MIRA INFORM REPORT

 

 

Report Date :           

16.11.2011

 

IDENTIFICATION DETAILS

 

Name :

COLOUR APPAREL CO.  LTD.

 

 

Registered Office :

11-12/F., Winful Industrial Building, 15-17 Tai Yip Street, Kwun Tong, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

27.08.2005

 

 

Com. Reg. No.:

35965241

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer and Exporter of all kinds of knitted and woven textile garments such as casual wears, T-shirts, jeanswear, jumper, Polo shirt, pullover, sweat shirt, dress, jacket, shirt and skirt, etc.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear


 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

COLOUR  APPAREL  CO.  LTD.

 

 

Company ADDRESS

 

11-12/F., Winful Industrial Building, 15-17 Tai Yip Street, Kwun Tong, Kowloon, Hong Kong.

PHONE:            2751 1182

FAX:                 2757 8705

 

 

MANAGEMENT

 

Executive Director:  Mr. Lo Kin Man, Terece

 

 

SUMMARY

 

Incorporated on:             27th August, 2005.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$15,000.00

Issued:              HK$15,000.00

 

Business Category:        Garment Trader.

 

Employees:                   40.

 

Main Dealing Banker:     CITIC Ka Wah Bank Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

 

Company ADDRESS

 

Registered Head Office:-

11-12/F., Winful Industrial Building, 15-17 Tai Yip Street, Kwun Tong, Kowloon, Hong Kong.

 

Knitting, Shipping & Accounting Department:-

9/F., & 12/F., Winful Industrial Building, 15-17 Tai Yip Street, Kwun Tong, Kowloon, Hong Kong.

 

China Factory:-

Diao Pu Town, Taizhou City, Jiangsu Province, China.

 

Overseas Factories:-

Cambodia & Myanmar.

 

Overseas Offices:-

China (Shanghai & Shenzhen), Myanmar, Vietnam, Cambodia & the Philippines.

 

Associated Companies:-

·         Target East, Hong Kong.

·         Eastern Link, Hong Kong.

·         Truetime Industries Ltd., Hong Kong.

·         Pada Industrial (Far East) Co. Ltd., Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

35965241

 

 

COMPANY FILE NUMBER

 

0992421

 

 

MANAGEMENT

 

Executive Director:         Mr. Lo Kin Man, Terece

 

 

CAPITAL

 

Nominal Share Capital:               HK$15,000.00 (Divided into 15,000 shares of HK$1.00 each)

 

Issued Share Capital:                 HK$15,000.00

 

SHAREHOLDERS

(As per registry dated 27-08-2011)

 

Name

 

No. of shares

PAK Kwan Ho

 

7,500

LO Kin Man

 

7,500

 

 

––––––

 

Total:

15,000

=====

 

 

DIRECTORS  

(As per registry dated 27-08-2011)

 

Name

(Nationality)

 

Address

LO Kin Man

Flat C, 15/F., Heng Fa Villa, Chai Wan, Hong Kong.

 

PAK Kwan Ho

30 San Diego Avenue, Royal Palms, Yuen Long, New Territories, Hong Kong.

 

 

SECRETARY

(As per registry dated 27-08-2011)

 

PAK Kwan Ho 

 

 

HISTORY

 

The subject was incorporated on 27th August, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           All kinds of knitted and woven textile garments such as casual wears, T-shirts,

jeanswear, jumper, Polo shirt, pullover, sweat shirt, dress, jacket, shirt and skirt, etc.

 

Employees:                   40.

 

Commodities Imported:   Imports raw materials from European countries, some of the Asian countries and finished products from China.

 

Markets:                       US, Europe, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               As per contracted.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$15,000.00 (Divided into 15,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$15,000.00

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

·         CITIC Ka Wah Bank Ltd., Hong Kong.

·         Wing Hang Bank Ltd., Hong Kong.

·         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

·         Dah Sing Bank Ltd., Hong Kong.

·         Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.

 

Standing:  Normal.

 

GENERAL

 

Having issued 15,000 ordinary shares of HK$1.00 each, Colour Apparel Co. Ltd. is equally owned by Mr. Pak Kwan Ho and Mr. Lo Kin Man.  Lo and Pak are also directors of the subject.

The subject has had an associated company Pada Industrial (Far East) Co. Ltd. [Pada] located at its operating address.

The subject and Pada are engaged in the same lines of business.  Pada is also equally owned by Lo and Pak.  They are also directors of this firm.

Pada, established in 1987, is one of the leading garment manufacturers specialized in children’s, ladies’ and young men’s knitted and woven garments in Asia.

The subject is a member of the Pada Group.

Pada has gained great reputation from its customers in the past 24 years.  Currently the Pada Group includes the following factories:

Knitted Garment Factories:

·         Colour Apparel (Vietnam) Garment Co. Ltd.

·         Colour Apparel Garment (Cambodia)Co. Ltd.

·         Sinomax (Huaibei) Garment Co. Ltd.

·         New Orient (Cambodia) Garment Co. Ltd.

Woven Garment Factories:

·         Kbal Koah Garment Co. Ltd.

·         Top World Garment (Cambodia)Ltd.

·         Pada Garment(Taizhou) Co. Ltd.

Washing Factorise:

·         Myanmar Pada Laundry

·         Kbal Koah Wash Processing & Garment Factory

·         Taizhou Pada Washing Factory Co. Ltd.

·         Ben Nghe Garment and Laundry Co. Ltd.

Branch Office & Sample Room:

·         Wan Da (Taizhou) Garment Co. Ltd. (Shanghai Office)

·         Pada Industrial (Far East) Co. Ltd. (Shanghai Branch Office)

·         Zong Meng Garment Co. Ltd.

·         Pada Clothing Design Shenzhen Co. Ltd.

The Group’s products cover all kinds of children’s wear, as well as ladies’ and men’s wear.  It is keen to expend its product range to all other kind of garment items.  It is carrying the following products:

Knit Top/Bottoms, Co-ordinate set, Jumper, Polo Shirt, Pullover, Sweat Shirt, Woven Top/Bottoms, Denim Jeans, Dress, Jacket, Shirt, Skirt, etc.

Products are exported to worldwide countries.  Business is active.  Annual sales turnover is significant.

The history of the subject in Hong Kong is over six years and two months.  The subject is fully supported by the Pada Group.

On the whole, consider the subject good for normal business engagements.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.56

UK Pound

1

Rs.80.30

Euro

1

Rs.68.79

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.