|
Report Date : |
28.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
BEBE
LTD. |
|
|
|
|
Registered Office : |
Room 804-806, 8/F., 909 Cheung Sha Wan Road, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
14.01.2005 |
|
|
|
|
Com. Reg. No.: |
35265386 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Exporter of Men’s nightwears, jeans, khakis and cargo pants, suits, T-shirts and polo shirts, sports wears, shirts, vests, outwears; ladies’ nightwears, jeans, sweaters and cardigans, dresses-loungewears, sports wears, shirts and tops, outwears; and children’s garments |
|
|
|
|
No. of Employees : |
100. (Hong Kong) |
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 : |
Regular |
|
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 |
BEBE LTD.
Room 804-806, 8/F., 909 Cheung Sha Wan Road, Kowloon, Hong Kong.
PHONE: 2251 1000
FAX: 2376 2925, 2376 0580
Managing Director: Mr. Hassomal Bulchand Mohinani
Incorporated on: 14th January, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer and Exporter.
Group Turnover: US$200-220 million.
Group Employees: 100. (Hong Kong)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 804-806, 8/F., 909 Cheung Sha Wan Road, Kowloon, Hong Kong.
Associated/Affiliated
Companies:-
Mohinani Group of Companies
Angel Garment Ltd., Hong Kong.
Art Era Ltd., Hong Kong.
Bellanis Ltd., Hong Kong.
Effort BPO Ltd., India.
Euro Alliance Investments Ltd., Hong Kong.
Fun Republic Corporation, Philippines.
Imp Y Exp Melsons Chile Ltd., Chile.
Melbrook Zona Libre S.A., Panama.
Melco S.A., Panama.
Milton Star Trading, UAE.
Mulitex (Exports) Ltd.,
Hong Kong.
[Trading as Mulitex Industries
(BR No. 07133022-001)]
Mulitex (Exports) Ltd., Taiwan.
Mulitex Exports (Pvt) Ltd., India.
Mulitex Ltd., Hong Kong.
[Trading as Mulitex Industries
(BR No. 22166795-002)]
Mulitex USA Inc., USA.
Multistars Holdings Ltd., British West Indies.
Next Product Ltd., Hong Kong.
P.T. Mulitex (Gedung Mulitex), Indonesia.
Star Glory Ltd., Hong Kong.
Starry Fashions Ltd.,
Hong Kong.
etc.
35265386
0945623
Group Chief
Executive Officers: Mr. Harry
Hassomal Mohinani
Mr. Vijay Harish Mohinani
Managing Director: Mr. Hassomal Bulchand Mohinani
Nominal Share Capital: HK$10,000.00 (Divided into shares 10,000 of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry
dated 14-01-2012)
|
Name |
|
No. of shares |
|
Vijay Harish MOHINANI |
|
4,850 |
|
Harry Hassomal MOHINANI |
|
5,050 |
|
Hassomal Bulchand MOHINANI |
|
100 |
|
|
|
–––––– |
|
|
Total: |
10,000 ===== |
(As per registry
dated 14-01-2012)
|
Name (Nationality) |
Address |
|
Harry Hassomal MOHINANI |
House 12, Mount Beacon, 20 Cornwall Street, Kowloon, Hong Kong. |
|
Hassomal Bulchand MOHINANI |
Flat A, 15/F., Wing On Court,
24 Ho Man Tin Hill Road, Kowloon, Hong Kong. |
|
Vijay Harish MOHINANI |
Flat B, 4/F, Wing On Court, 24 Ho Man Tin Hill Road, Kowloon, Hong Kong. |
Vijay Harish MOHINANI (As per registry dated 14-01-2012)
The subject was incorporated on 14th January, 2005 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.
Activities: Importer and Exporter.
Lines: Men’s nightwears, jeans, khakis and cargo pants, suits, T-shirts and polo shirts, sports wears, shirts, vests, outwears; ladies’ nightwears, jeans, sweaters and cardigans, dresses-loungewears, sports wears, shirts and tops, outwears; and children’s garments.
Trade Marks: “AVIS”, “AMERICAN EXCHANGE”, “BLACK STALLION”, “BLUEWAVE”, “COHIBA”, “COASTAL NAVIGATOR”, “DISENO”, “ERNEST & JOHN”, “FUN REPUBLIC”, “LARIDAS”, “MISCHIEF”, “PARADISE”, “PROXY”, “PULSE”, “SUPER T’S”, “VIBE”, etc.
Employees: 100. (Hong Kong)
Materials/Commodities: Imports raw materials from Europe and finished products from China.
Markets: Worldwide countries.
Group Turnover: US$200-220 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: On various terms.
Nominal Share Capital: HK$10,000.00 (Divided into shares 10,000 of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Making a profit every year.
Condition: Business is active and normal.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Having issued 10,000 ordinary shares of HK$1,000.00, Bebe Ltd. is jointly owned by Mr. Vijay Harish Mohinani, holding 48.5% interests; Mr. Harry Hassomal Mohinani, holding 50.5%; and Mr. Hassomal Bulchand Mohinani, 1.0%. They are also directors of the subject.
The
subject is operated by the Mohinani family who has been in Hong Kong for a very
long time. The Mohinanis are Indian. The
Mohinani family has set up a Mohinani Group of companies. The Group has had the following main
companies:-
Mulitex Ltd. [Mulitex]
Star Glory Ltd.
Angel Garment Ltd.
Starry Fashions Ltd.
Next Product Ltd.
Bebe
Ltd.
The last one is the subject. The subject is a professional garment subsidiary company of Mohinani Group; keeping pace with the international fashion trend and introducing unique clothing culture.
The subject has had a main associated company Mulitex located at its operating address. Mulitex is an Indian company also owned by the Mohinani family. It has been engaged in garment trading for over 35 years. According to Mulitex, it has set up offices in China (Guangzhou and Shanghai), Taiwan, the Philippines, India, Chile, Panama and the United States. All these offices are responsible for products and raw materials sourcing as well as finished products marketing. As far as product sources are concerned, Mulitex has developed strong links with manufacturing facilities in such countries and regions like Thailand, Macau, Bangladesh, Russia, Malaysia, South Korea, Brunei, Mongolia, Sri Lanka, Cambodia, South Africa, Madagascar, Egypt, Mauritius, Pakistan, etc.
Mulitex is specialised in a wide range of knitted garments like interlock T‑shirts, mesh vests, pique polo and single jersey T-shirts and also a variety of woven garments like denim jeans, shirts, twill trousers, madras checks shirts in various designs. Its forte is in sports wear and casual wear catering for all age groups of men, ladies and children and it also has collections of fine suits for men and loungewear for women.
Currently, Mulitex has got over a hundred brands registered world-wide. Its significant brands handled include the followings: “AVIS”, “AMERICAN EXCHANGE”, “BLACK STALLION”, “BLUEWAVE”, “COHIBA”, “COASTAL NAVIGATOR”, “DISENO”, “ERNEST & JOHN”, “FUN REPUBLIC”, “LARIDAS”, “MISCHIEF”, “PARADISE”, “PROXY”, “PULSE”, “SUPER T’S”, “VIBE”, etc.
The annual sales of the Group in South America, Mexico and West Indies account for 56%; Europe account for 20%; the United States and Canada, 17%; the Middle East, 3%; and others, 4%.
Two of Mulitex’s chief executive officers, Mr. Harry Hassomal Mohinani and Mr. Vijay Harish Mohinani, are also the shareholders of Bellanis Ltd. and the subject. The subject carries the same commodities as Mulitex. Bellanis Ltd. is also a Hong Kong-registered firm and a garment trader.
On the whole, in view of the background and parentage of the subject, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.68 |
|
UK Pound |
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.69.38 |
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.