MIRA INFORM REPORT

 

 

Report Date :

17.04.2012

 

IDENTIFICATION DETAILS

 

Name :

CITIMEX  TEXTILES  LTD.

 

 

Registered Office :

Unit 4607, 46/F., Metroplaza Tower II, 223 Hing Fong Road, Kwai Chung, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

02.02.2007

 

 

Com. Reg. No.:

37628837

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of garments for men and boys, etc.

 

 

No. of Employees :

15

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 and address

 

CITIMEX  TEXTILES  LTD.

 

 

ADDRESS:       Unit 4607, 46/F., Metroplaza Tower II, 223 Hing Fong Road, Kwai Chung, New Territories, Hong Kong.

 

PHONE:                        2613 7780,  2613 7700

 

FAX:                 2612 2799

 

 

MANAGEMENT

 

Managing Director:  Mr. So Siu Fat, Godfrey

 

 

SUMMARY

 

Incorporated on:              2nd February, 2007.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$200,000.00

Issued:              HK$200,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   15.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Good.

ADDRESS

 

Registered Head Office:-

Unit 4607, 46/F., Metroplaza Tower II, 223 Hing Fong Road, Kwai Chung, New Territories, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

37628837

 

 

COMPANY FILE NUMBER

 

1107344

 

 

MANAGEMENT

 

Managing Director:  Mr. So Siu Fat, Godfrey

Contact Person:  Ms. Alice Cheung

 

 

CAPITAL

 

Nominal Share Capital: HK$200,000.00 (Divided into 200,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$200,000.00

 

 

SHAREHOLDER

(As per registry dated 02-02-2012)

 

Name

 

No. of shares

SO Siu Fat, Godfrey

 

200,000

======

 

 

DIRECTOR

(As per registry dated 02-02-2012)

 

Name

(Nationality)

 

Address

SO Siu Fat, Godfrey

Room 2415, 24/F., Ka Yiu House, Ka Shing Court, Fanling, New Territories, Hong Kong.

 

 

SECRETARY

(As per registry dated 02-02-2012)

 

Name

Address

Co. No.

Sharles Secretary Ltd.

Room 1904, 19/F., Kai Tak Commercial Building, 161 Connaught Road Central, Hong Kong.

0785145

 

 

HISTORY

 

The subject was incorporated on 2nd February, 2007 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 garments for men and boys, etc.

 

Employees:                   15.

 

Commodities Imported:   China, other Asian countries, etc.

 

Markets:                       Japan, other Asian countries, Western Europe, North America, Eastern Europe, etc.

 

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

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$200,000.00 (Divided into 200,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$200,000.00

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making rather 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 200,000 ordinary shares of HK$1.00 each, Citimex Textiles Ltd. is wholly owned by Mr. So Siu Fat, Godfrey who is a Hong Kong merchant.  He is also the only director of the subject.

The subject is a garment trader.  It is trading in all kinds of garments for men and boys.  Its products include denim and working clothes for men and boys.  Products are chiefly sourced from the suppliers in China.  Prime markets are Japan, other Asian countries, Western Europe, North America, Eastern Europe, etc.  Business is rather active.

The subject’s business is chiefly handled by Mr. So Siu Fat, Godfrey.  Contact person Ms. Alice Cheung is one of the employees of the subject.

As the history of the subject is over five years and two months in Hong Kong, on the whole, consider it good for normal business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.66

UK Pound

1

Rs.81.79

Euro

1

Rs.67.18

 

 

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.