MIRA INFORM REPORT
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Report Date : |
20.09.2011 |
IDENTIFICATION DETAILS
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Name : |
B&S TEXTILES CO.
LTD. |
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Registered Office : |
c/o Hong Kong Daiyan Registrations Ltd., Room 1613, 16/F.,Tai Yau Building, 181 Johnston Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.05.2010 |
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Com. Reg. No.: |
52251803 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of all kinds of chemical fibres, fabrics, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
New Company |
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Payment
Behaviour : |
---- |
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Litigation : |
---- |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
a2 |
2a |
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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
B&S TEXTILES
CO. LTD.
Company ADDRESS
c/o Hong Kong Daiyan Registrations Ltd.
Room 1613, 16/F.,Tai Yau Building, 181 Johnston Road, Wanchai, Hong Kong.
PHONE: 3645 8129
FAX: 3645 8092
MANAGEMENT
Managing Director: Ms. Yang Xinzhen
SUMMARY
Incorporated on: 13th May, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Chemical Fibre Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
c/o Hong Kong Daiyan Registrations Ltd.
Room 1613, 16/F.,Tai Yau Building, 181 Johnston Road, Wanchai, Hong Kong.
Affiliated Company:-
Hangzhou Tenlong Textile Co. Ltd.
Xiaoshan Dangshan Chemical Fibre Fabrics Factory, 311245 Hangzhou, Zhejiang Province, China.
[Tel: 86-571-8252 5898; Fax: 86-571-8252 5898]
BUSINESS REGISTRATION NUMBER
52251803
COMPANY FILE NUMBER
1455702
MANAGEMENT
Managing Director: Ms. Yang Xinzhen
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDER
(As per registry
dated 13-05-2011)
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Name |
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No. of shares |
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YANG Xinzhen |
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10,000 ===== |
DIRECTOR
(As per registry
dated 13-05-2011
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Name (Nationality) |
Address |
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YANG Xinzhen |
Room 1613, 16/F.,Tai Yau Building, 181 Johnston Road, Wanchai, Hong Kong. |
SECRETARY
(As per registry
dated 13-05-2011)
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Name |
Address |
Co.
No. |
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OYX International Enterprises Consultancy Ltd. |
Room 1613, 16/F.,Tai Yau Building, 181 Johnston Road, Wanchai, Hong Kong. |
1386560 |
HISTORY
The subject was incorporated on 13th May, 2010 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 chemical fibres, fabrics, etc.
Employees: Nil.
Commodities Imported: India, other Asian countries, etc.
Markets: China, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business is not active in Hong Kong.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, B&S Textiles Co. Ltd. is wholly owned by Ms. Yang Xinzhen who is a China businesswoman. She is a China ID holder and does not have the right to reside in Hong Kong permanently. She is also the only director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 1613, 16/F.,Tai Yau Building, 181 Johnston Road, Wanchai, Hong Kong known as Hong Kong Daiyan Registrations Ltd. which is handling its correspondences and documents. The associated company of Hong Kong Daiyan Registrations Ltd. OYX International Enterprises Consultancy Ltd. is the corporate secretary of the subject. The subject has no employees in Hong Kong.
The subject is an affiliated company of Hangzhou Tenlong Textile Co. Ltd. [Tenlong] which is a China-based firm. Tenlong was founded at 1978. It covers an area of more than 53,000 sq.m.. It is engaged in producing middle to high-end textile materials. The annual output of Tenlong is about RMB100 million Yuan. Currently, Tenlong has about 400 employees and has been equipped with units of thread-splicing machine, model: 310G as well as 150 units of various looms, such as model Wanshida, Xinlong, etc. Tenlong’s main products are terylene cloth, cotton cloth, resiliocloth as well as chemical fibre cloth, etc. It sells its products both in domestic and foreign markets. Ms. Yang Xinzhen seemed to be the CEO of Tenlong.
It is likely that Tenlong deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. Tenlong also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not active and under development.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.79 |
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UK Pound |
1 |
Rs.75.06 |
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Euro |
1 |
Rs.65.35 |
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.