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Report Date : |
27.04.2012 |
IDENTIFICATION DETAILS
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Name : |
LC DESIGNS HK CO.
LTD. |
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Formerly Known As : |
London
Clock/Dulwich Designs H.K. Ltd |
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Registered Office : |
Unit 1002, 10/F, |
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Country : |
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Date of Incorporation : |
16.08.1999 |
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Com. Reg. No.: |
30305076 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Watches, clocks, premiums, novelties, etc. |
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No. of Employees : |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Usually Correct |
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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 – 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 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LC DESIGNS
HK CO. LTD.
Unit 1002, 10/F, Edward Wong Tower, 910 Cheung Sha Wan Road, Kowloon, Hong Kong.
PHONE: 2744 8861
FAX: 2744 8991
E-MAIL: sales@lcdesigns.com.hk
General Manager: Mr. Pandora Tsang
Incorporated on: 16th August, 1999.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit 1002, 10/F, Edward Wong Tower, 910 Cheung Sha Wan Road, Kowloon, Hong Kong.
Holding Company:-
The London Clock Holding Co. Ltd., UK.
30305076
0685460
General Manager: Mr. Pandora Tsang
Nominal Share Capital: HK$10,000.00 (Divided into 100 shares of HK$100.00 each)
Issued Share Capital: HK$10,000.00
(As per registry
dated 16-08-2011)
|
Name |
|
No. of shares |
|
The London Clock Holding Co. Ltd. London House, Sheldon Way, Larkfield, Aylesford, Kent ME20 6SE, UK. |
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99 |
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Kevin Brian PESTELL |
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1 |
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––– |
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Total: |
100 === |
(As per registry
dated 16-08-2011)
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Name (Nationality) |
Address |
|
Alan Gordon PESTELL |
London House, Sheldon Way, Larkfield, Aylesford, Kent ME20 6SE, UK. |
|
Kevin Brian PESTELL |
London House, Sheldon Way, Larkfield, Aylesford, Kent ME20 6SE, UK. |
|
Raymond CARR |
London House, Sheldon Way, Larkfield, Aylesford, Kent ME20 6SE, UK. |
(As per registry dated
16-08-2011)
|
Name |
Address |
Co.
No. |
|
Company Formations Far East Ltd. |
Room 1202, 12/F., Golden Star Building, 20 Lockhart Road, Hong Kong. |
0013907 |
The subject was incorporated on 16th August, 1999 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of London Clock/Dulwich Designs H.K. Ltd., name changed to the present style on 3rd September, 2004.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Watches, clocks, premiums, novelties, etc.
Employees: 6.
Commodities Imported: China, other Asian countries, Europe, etc.
Markets: Asian countries, Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 100 shares of HK$100.00 each)
Issued Share Capital: HK$10,000.00
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.
Having issued 100 ordinary shares of HK$100.00 each, LC Designs HK Co. Ltd. is a subsidiary company of The London Clock Holding Co. Ltd. which is a UK-based firm.
The
subject is an exporter and manufacturer in the gift and premiums industry. It has been promoting the clocks and jewellery boxes for its parent company. It now also offers a complete home lifestyle
range like wall arts, mirrors, picture frames, storage boxes and other
contemporary decorative accessories, etc.
The subject carries the following products: album, candle holder, cosmetic bag, cufflinks, decoration product,
desk top stationery, keychain, leather bag, letter opener, metal giftware,
mirror, mirror case, notebook, original design, original design – giftware,
original design – watch and clock, paper product, photoframe,
silver giftware, tableware, travel accessory, travel goods and bag, and wine accessory.
Also engaged in OEM and ODM orders, the subject is currently supplying retail solutions to department stores, and has built up good relationships with famous brands.
The subject produces a wide variety of products under six different brands: London Clock Company, Dulwich Designs, Boutique, Vicci and most recently Stackers and Button It.
The subject’s business is rather active. It has been a family business operated by the Pestells.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities. For instance, it is going to take part in “Hong Kong Gifts & Premium Fair 2012” which will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 27th to 30th April, 2012.
As
the history of the subject is over twelve years and eight 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.52.57 |
|
UK Pound |
1 |
Rs.85.03 |
|
Euro |
1 |
Rs.69.56 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.