MIRA INFORM REPORT

Report Date :

09.08.2012

IDENTIFICATION DETAILS

Name :	INTERNATIONAL TEXTILE PROCUREMENT SERVICES LTD.

Registered Office :	5/F., Block B, Eldex Industrial Building, 21 Ma Tau Wai Road, Hung Hom, Kowloon

Country :	Hong Kong

Date of Incorporation :	04.05.1998

Com. Reg. No.:	22181610

Legal Form :	Private Limited Company

Line of Business :	Textile Product and Garment Trader of All kinds of garments and textile products, etc.

No. of Employees :	12

RATING & COMMENTS

MIRA’s Rating :

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Hong Kong

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

COMPANY NAME

INTERNATIONAL TEXTILE PROCUREMENT SERVICES LTD.

ADDRESS

5/F., Block B, Eldex Industrial Building, 21 Ma Tau Wai Road, Hung Hom, Kowloon, Hong Kong.

PHONE: 2356 4140

FAX: 2333 9310

E-MAIL: shirley.yip@pfhongkong.com

MANAGEMENT

Managing Director: Ms. Au Pui Mei

SUMMARY

Incorporated on: 4th May, 1998.

Organization: Private Limited Company.

Capital: Nominal: US$10,000.00

Issued: US$10,000.00

Business Category: Textile Product and Garment Trader.

Employees: 12.

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

Banking Relation: Satisfactory.

COMPANY NAME

INTERNATIONAL TEXTILE PROCUREMENT SERVICES LTD.

ADDRESS

Registered Head Office:-

5/F., Block B, Eldex Industrial Building, 21 Ma Tau Wai Road, Hung Hom, Kowloon, Hong Kong.

Holding Company:-

Polyconcept Hong Kong Ltd., Hong Kong.

Associated Companies:-

ADM Promotions BV, Netherlands.

ADM Promotions Far East Ltd., Hong Kong.

ADM Promotions SA de CV, Mexico.

ADM Promotions USA LLC, USA.

ADM Spain SL, Spain.

Bullet Line LLC, USA.

Flame 2000 S.R.L., Italy.

Greenland Watch Ltd., Hong Kong.

International Textile Procurement Services Bangladesh Ltd.,

Bangladesh.

Intermed Asia Ltd., Hong Kong.

Leedsworld Inc, USA.

PF Concept Clipper AS, Norway.

PF Concept SA, France.

PF Concept Scandinavia AB, Sweden

PF Concept Spain SA, Spain.

PF Concept UK Ltd., UK.

Poly Concept Holding SA, France.

Poly concept trading (Shanghai) Co. Ltd., China.

Polyconcept Holding BV, Netherlands.

Polyflame Europe SA, France.

Timeplanner Calendars Inc., USA.

Trimark Sportswear Canada Inc., Canada.

BUSINESS REGISTRATION NUMBER

22181610

COMPANY FILE NUMBER

0643764

MANAGEMENT

Managing Director: Ms. Au Pui Mei

Representative: Ms. Shirley Yip

CAPITAL

Nominal Share Capital: US$10,000.00 (Divided into 5,100 Ordinary A shares and 4,900 Ordinary B shares of US$1 each)

Issued Share Capital: US$10,000.00

SHAREHOLDERS

(As per registry dated 04-05-2012)

Name		No. of shares
		Ordinary A	Ordinary B
Polyconcept Hong Kong Ltd., Hong Kong.		5,100	2,400
EDO Corporation. Omar Hodge Building Wickhams CAY1, P.O. Box 362, Road Town, Tortola, British Virgin Islands.		-	2,500
		––––––	–––––
	Total:	5,100 =====	4,900 ====

DIRECTORS

(As per registry dated 30-06-2012)

Name (Nationality)	Address
LUO Meng	Room 402, No. 8, Lane 900 Mao Tai Road, Changning District, Shanghai 200336, China.
AU Pui Mei	Flat G, 4/F., Block 2, Kornhill Garden, 1112 King’s Road, Quarry Bay, Hong Kong.
Nicolas VILLEMONTEIX	A1808 Hui Jin Plaza, 988 Zhao Jia Bang Road, Shanghai 200030, China.
Amara AMATYAKUL	537 Friendship Village, On-Nuj 46, Sukhumvit 77 Nongbon, Praves, Bangkok 10250, Thailand.

SECRETARY

(As per registry dated 04-05-2012)

Name	Address	Co. No.
Tricor Strath Ltd.	Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong.	0004873

HISTORY

The subject was incorporated on 4th May, 1998 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Phoenix Star International Ltd., name changed to the present style on 17th April, 2000.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Textile Product and Garment Trader.

Lines: All kinds of garments and textile products, etc.

Employees: 12.

Commodities Imported: China, Thailand, other Asian countries, etc.

Markets: Asian countries, Europe, North America, etc.

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

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

FINANCIAL INFORMATION

Nominal Share Capital: US$10,000.00 (Divided into 5,100 Ordinary A shares and 4,900 Ordinary B shares of US$1 each)

Issued Share Capital: US$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.

GENERAL

International Textile Procurement Services Ltd. is a subsidiary company of Polyconcept Hong Kong Ltd. [Polyconcept] which is a Hong Kong-based firm located at the same operating address.

Polyconcept is a multinational company headquartered in France and the Netherlands. The Group is specialised in creation, sourcing and distribution of lifestyle gifts, home decoration products, garments, etc.

The subject is trading in the same commodities as Polyconcept. It is also engaged in sourcing, developing and manufacturing apparels and other related products for the entire group. The Group is trading in the following commodities:-

Ashtrays, Backpacks, Barbecue Tools, Bottle Openers, Calculators, Casual Wear, Ceramic/Porcelain, Computer Carrying Bags, Desk Sets & Accessories, Digital Clocks, Electronic Gifts & Premium, Flash Memory Cards, Glassware of Catering, Hats & Caps, Keychains, Lighters, Magnets, Outdoor & Sporting Items, Promotional Gifts, Articles, Sewing Kits, Shopping Bags, Sports Time Clocks, Stopwatches, Electronic (with Alarm), Sweater, Travel Goods, Umbrellas, Vacuum Flasks, Watches, etc.

Some of the commodities bear the brand names of CASE LOGIC, MARKSMAN, ORIENT TAPRESS, etc. Products are exported to the following countries:-

Belgium, France, Germany, Iran, Israel, Italy, Japan, the Netherlands, Poland, Qatar, Russia, Saudi Arabia, Spain, Sweden, the United Kingdom, the United States, etc.

The business of apparels accounts for about 20% of the Group’s revenues.

Polyconcept is one of the world’s largest promotional product suppliers with sales of over EUR 650 million. Polyconcept employs approximately 3,000 staff in 35 offices on four continents selling to over 100 countries around the globe. Its main offices are in the United States, the Netherlands, France and China apart from Hong Kong.

The subject is fully supported by Polyconcept.

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.15
UK Pound	1	Rs.86.00
Euro	1	Rs.68.31

INFORMATION DETAILS

Report Prepared by :

SDA

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.