MIRA INFORM REPORT
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Report Date : |
30.09.2011 |
IDENTIFICATION DETAILS
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Name : |
HEDY
LTD. |
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Registered Office : |
Flat C & D, 5/F., Leroy Plaza, 15 Cheung Shun Street, Cheung Sha Wan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.07.1987 |
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Com. Reg. No.: |
11384558 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of fabrics, etc. |
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 : |
Exists |
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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
HEDY LTD.
Company ADDRESS
Flat C & D, 5/F., Leroy Plaza, 15 Cheung Shun Street, Cheung Sha Wan, Kowloon, Hong Kong.
PHONE: 2420 3038, 2741 6886
FAX: 2420 4215, 2785 4433
MANAGEMENT
Managing Director: Mr. Lui Pui On
SUMMARY
Incorporated on: 21st July, 1987.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$100,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$235~240 million.
Employees: 25. (Including associate in Hong Kong)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Flat C & D, 5/F., Leroy Plaza, 15 Cheung Shun Street, Cheung Sha Wan, Kowloon, Hong Kong.
Associated
Company:-
Hintco Trading Ltd., Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
11384558
COMPANY FILE NUMBER
0193799
MANAGEMENT
Managing Director: Mr. Lui Pui On
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 100,000 shares of HK$10.00 each)
Issued Share Capital: HK$100,000.00
SHAREHOLDER
(As per registry
dated 21-07-2011)
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Name |
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No. of share |
|
LUI Pui On |
|
100,000 ====== |
DIRECTOR
(As per registry
dated 21-07-2011)
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Name (Nationality) |
Address |
|
LUI Pui On |
Flat C, 5/F., Leroy Plaza, 15 Cheung Shun Street, Cheung Sha Wan, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 21-07-2011)
|
Name |
Address |
Co.
No. |
|
Tricor Secretaries Ltd. |
Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong. |
0014900 |
HISTORY
The subject was incorporated on 21st July, 1987 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, Exporter and Wholesaler.
Lines: All kinds of fabrics, etc.
Employees: 25. (Including associate in Hong Kong)25. (Hong Kong)
Commodities Imported: India, Europe, Japan, etc.
Markets: China, other Asian countries, etc.
Annual Turnover: HK$235~240 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
MEMBERSHIP
The Hong Kong General
Chamber of Commerce, Hong Kong.
[Membership No. HKH0318]
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 100,000 shares of HK$10.00 each)
Issued Share Capital: HK$100,000.00
Indebtedness: HK$18,453,743.47
(Total amount outstanding on all mortgages and charges as per last Annual Return dated 21-07-2011)
Mortgage or Charge
(since 2009): (See attachment)
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.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 100,000 ordinary shares of HK$10.00 each, Hedy Ltd. is wholly owned by Mr. Lui Pui On who is a Hong Kong merchant. He is also the only director of the subject.
The subject has got an associated company Hintco Trading Ltd. [Hintco] located at its operating address. Hintco and the subject are engaged in the same lines of business, more or less. Hintco was incorporated in Hong Kong on 15th August, 1995. It is also managed by Lui Pui On.
The subject is a piecegoods trader. It is trading in the following commodities:-
·
Yarn-Dyed Item
The subject has a special team handling yarn dyed item. Monthly production capacity ranges from
800,000 to 1,000,000 yards.
·
Linen Fabric
The subject produces difference weights of pure linen and linen blended woven
fabric like linen/rayon, linen/cotton, etc.
·
Ramie Fabric
The subject produces different kinds and weights of pure ramie and ramie mixed
fabric, like ramie/cotton ramie, etc.
·
Corduroy/Velveteen Fabric
Products are different wale/weights of corduroy fabrics including 100% cotton
corduroy, cotton/rayon corduroy, CVC corduroy and T/C corduroy fabric, special
weave of corduroy such as check corduroy, twill effect corduroy. In addition, the factory is able to make
spandex/corduroy fabrics for its customers in different wale and construction.
The subject has had a factory located in Foshan City, Guangdong Province, China. This factory is a dyeing, weaving, and finishing mill employing about 1,000 workers. The value of the fixed assets of this factory is over RMB100 million Yuan.
The factory has been equipped with 48 air jet looms, 80 shuttleless looms, pin dyed, corn dyed, sizing machines, fabric preparation equipment, air jet, pre‑compressor, etc.
Besides, the subject has set up a mill in Jiangsu Province, China which is engaged in dyeing and weaving of different kinds of corduroy fabrics.
Products are exported to Japan, North America, Southeast Asia, Western Europe, etc. The annual sales turnover of the subject and Hintco ranges from HK$235 to 240 million. Making a small profit every year.
As the history of the subject is over twenty-four years and two months in Hong Kong, on the whole, consider it good for normal business engagements.
REMARKS:
Court case record:-
|
Date |
Plaintiff |
Defendant |
Cause |
Amount |
|
Nov. 1992 |
Ford Tune Textiles Ltd. |
Hedy Ltd. |
Goods Sold and Delivered |
HK$198,163 |
MORTGAGE OR CHARGE
(Since 2009)
|
Date |
Particulars |
Amount |
|
10-08-2009 |
Instrument: Security Over Deposits with the Bank (Limited Company – Under Seal) Property: A deposit with chargee in the amount of HK$4,800,000.00 under Deposit A/C No. 596‑059824, whatever currency it may subsequently be denominated in, any renewal of such deposit and the interest thereon together with any further monies in any deposit account with the chargee at any of its offices Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Amount secured – (i) all monies in any currency owing by the Company to the chargee at any time, actually or contingently, in any capacity, alone or jointly with any other person; (ii) interest on such monies, to the date on which the chargee receives payment, at the rates payable by the Company or which would have been payable but for any circumstance which restricts payment and (iii) all expenses of the chargee in perfecting or enforcing the charge |
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16-03-2010 |
Instrument: Assignment of Life Insurance Property: (i) all the Assignor’s claims, options, privileges, right, title, interest and benefit in and under the Insurance; and (ii) all the Assignor’s claims and rights the issuer of the Policy (No. 28001737) Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Secured Indebtedness |
|
16-03-2010 |
Instrument: Assignment of Life Insurance Property: (i) all the Assignor’s claims, options, privileges, right, title, interest and benefit in and under the Insurance; and (ii) all the Assignor’s claims and rights the issuer of the Policy (No. 28001954) Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Secured Indebtedness |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.93 |
|
UK Pound |
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.65 |
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.