MIRA INFORM REPORT
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Report Date : |
22.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ASIA
TODAY LTD. |
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Registered Office : |
Suite 2501-2502, 25/F., Tower 2, Nina Tower, 8 Yeung Uk Road, Tsuen Wan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
25.08.2004 |
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Com. Reg. No.: |
34853926 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Garments and textile products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
ASIA TODAY
LTD.
Company ADDRESS
Suite 2501-2502, 25/F., Tower 2, Nina Tower, 8 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong.
PHONE: 2169 3533, 2169 3077
FAX: 2169 3933, 2169 3433
E-MAIL: mandy@asiatoday.com.hk
MANAGEMENT
Managing Director: Mr. Rainer Schulz
SUMMARY
Incorporated on: 25th August, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$30,000,000.00
Issued: HK$30,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 18.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
COMPANY ADDRESS
Registered Head Office:-
Suite 2501-2502, 25/F., Tower 2, Nina Tower, 8 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong.
Holding Company:-
Holdas Nominees Ltd., Hong Kong.
Affiliated Company:-
United Fashion Brands Ltd., Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
34853926
COMPANY FILE NUMBER
0918874
MANAGEMENT
Managing Director: Mr. Rainer Schulz
CAPITAL
Nominal Share Capital: HK$30,000,000.00 (Divided into 30,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$30,000,000.00
SHAREHOLDER
(As per registry
dated 25-08-2011)
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Name |
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No. of share |
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Holdas Nominees Ltd., Hong Kong. |
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30,000,000 ======== |
DIRECTORS
(As per registry
dated 25-08-2011)
|
Name (Nationality) |
Address |
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Rainer SCHULZ |
49 Kadoorie Avenue, Kowloon, Hong Kong. |
|
Silke SCHULZ |
49 Kadoorie Avenue, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 25-08-2011)
|
Name |
Address |
Co.
No. |
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Benta Nominees Ltd. |
20/F., Tung Wai Commercial Building, |
0042671 |
HISTORY
The subject was incorporated on 25th August, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 6510, 65/F., The Center, 99 Queen’s Road Central, Hong Kong, moved to the present address with effect from 1st December, 2008.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Garments and textile products.
Employees: 18.
Commodities Imported: Imported from China, etc.
Markets: India, North America, Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
FINANCIAL INFORMATION
Nominal Share Capital: HK$30,000,000.00 (Divided into 30,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$30,000,000.00
Alternation of
Capital:-
|
25-08-2004 |
paid up |
HK$ 1.00 |
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02-11-2005 |
paid up |
HK$ 29,999,999.00 |
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–––––––––––––––– |
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Total: |
paid up |
HK$ 30,000,000.00 ============== |
Increase of
Nominal Capital:-
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From |
HK$1,000.00 |
to |
HK$30,000,000.00 |
on |
02-11-2005 |
Profit & Loss: Making a small profit.
Condition: Keeping in an active condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Asia Today Ltd. is a wholly-owned subsidiary of Holdas Nominees Ltd. [Holdas] which is a Hong Kong registered firm. Formerly the subject had just issued 1 ordinary share of HK$1.00, increased to 30,000,000 ordinary shares of HK$1.00 each on 2nd November, 2005. Now, all the issued shares have been allotted to Holdas which is the present holding company. This firm is located at the operating address of Benta Nominees Ltd. which is the secretary of the subject.
Operating from a rented office, the subject was located at the 65th floor of The Center and now it has moved to Nina Tower with effect from early December 2008.
The subject was controlled by an Indian Mr. Mahesh Sham Sujanani who had been in Hong Kong for a very long time. Now, he has retired. Another Indian Mr. Rainer Schulz is one of the directors of the subject. He also has been in Hong Kong for a very long time. Currently, he is managing the subject. In fact the subject is operated by the Schulz family.
The subject is a garment trader. It is trading in the following commodities:-
· Garments (Men’s, Women’s and Children’s) — Fleece Garments, Trousers and Slacks, Dresses and Skirts, Denim Garments, Blouses, Suits and Jackets (Women’s), Jacket (Ladies excluding Ski-Jacket)
· Knitwear — Tee and Sweat Shirts, Knitted Garments, Cardigan, Sweater and Pullover
· Underwear and Nightwear — Nightwear and Pyjamas, Underwear (Women’s)
· Sportswear — Sports Gloves, Winter Sports Apparel, Water Sports Apparel, Sport Suits
· Footwear — Sport Shoes, Slippers, Slippers (Textile and PVC), Sandals (Wooden, PVC and Cork), Rubber and Textile Footwear, PVC and Plastic Footwear, Leather Shoes and Boots
· Machinery and Equipment — Shoe Making Machinery and Equipment, etc.
Commodities are chiefly sourced from China and other Asian countries. Most of the products are exported to India, North America, Africa, the Middle East, etc. Business is rather active.
According to the subject, it has set up an office in Southern China responsible for sourcing commodities from local suppliers. The office is employing over 30 persons.
The subject’s business is still expanding and improving.
The subject has got an affiliated company United Fashion Brands Ltd. [UFB] located at its operating address. Incorporated on 7th December, 2006, UFB is an international young ladies retail fashion chain group with over 150 stores in Europe. The subject in fact a buying office for its associated shops in Europe.
The history of the subject in Hong Kong is over seven years and a month.
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.50.07 |
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UK Pound |
1 |
Rs.79.16 |
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Euro |
1 |
Rs.69.04 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.