|
Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
Unit B, 25/F.
& Unit A, 26/F., |
|
|
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Country : |
|
|
|
|
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Date of Incorporation : |
16.08.1974 |
|
|
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Com. Reg. No.: |
04701591 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
Dyeing and
Printing Product Trader |
|
|
|
|
No. of Employees : |
22. (Including associate) |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source : CIA |
Unit B, 25/F. &
Unit A, 26/F., CDW Building, 388 Castle Peak Road, Tsuen Wan, New
Territories, Hong Kong.
PHONE: 2476
9779, 3796 4800
FAX: 2412
1562
E-MAIL: info@chinadye.com
marketing@chinadye.com
richard_cheng@chinadye.com
Managing
Director: Mrs. Wong Cha May Lung,
Madeline
Incorporated
on: 16th
August, 1974.
Organization: Private
Limited Company.
Capital: Nominal: HK$100,100.00
Issued: HK$100,100.00
Business Category: Dyeing and Printing Product Trader.
Employees: 22. (Including associate)
Main Dealing
Banker: Standard Chartered Bank
(Hong Kong) Ltd.,
Banking
Relation: Very Good.
Registered Head Office:-
Unit B, 25/F. &
Unit A, 26/F., CDW Building, 388 Castle Peak Road, Tsuen Wan, New Territories,
Hong Kong.
Dyeing Mill:-
Yuen Long
Industrial Estate,
Other Offices:
Immediate Holding Company:-
CDP Ltd.,
Ultimate Holding Company:-
CDW International
Ltd.,
Associated Companies:-
Advancetex
International Pty. Ltd.,
Akosombo Textiles
Ltd.,
Asia Television
Ltd.,
Castle Industries
Castle Industries
Ltd.,
CDP Textiles Ltd.,
British Virgin Islands/Hong Kong.
CDW Textile Testing
(
CDW Textiles Ltd.,
CDW Textiles Ltd.,
Cha Textiles Ltd.,
Connaught Trade
& Finance Ltd.,
Cosmo Hong Kong
Ltd.,
Cosmo Textile Co.
Ltd.,
Cosmopolitan
Textile Co. Ltd.,
Cosmostar Ltd.,
CTC Asia (Hong
Kong) Ltd.,
CTC
Dong Tai Mingly
Textiles Ltd.,
Fiber Innovation
Technology Inc.,
Filament Fiber
Technologies Inc.,
Funtua Textiles
Ltd.,
Fybagrate Ltd.,
Globe Tec Nonwovens
Inc.,
Hai Xin Textile Co.
Ltd.,
Haining Textile
Allied Industry Co. Ltd.,
Haining Xin Gao
Fibers Ltd.,
Haining Xin Hai Xin
Textile Co. Ltd.,
Haining Xin Neng
Fibers & Non-Wovens Ltd.,
Hangzhou Yimian
Ltd.,
Hanison
Construction Holdings Ltd., Cayman Islands/Hong Kong.
HDK Industries
Inc.,
HKR International
Ltd., Cayman Islands/Hong Kong.
Hong Kong
Industrial Services Ltd.,
Hongkong Hi-Tec
Enterprises Ltd.,
Jadestar Holding
Ltd.,
Keentex Co. Ltd.,
Ledatec Ltd.,
Manx Inc., US.
Mingly Corporation,
Cayman Islands/Hong Kong.
Mingly Textiles (
Mountain Star Ltd.,
P. T. Cosmo
Qualitex Textiles
Ltd.,
Rich Trade
International Ltd.,
Subliprint Far East
Ltd.,
United Nigeria
Textiles Plc,
Zamfara Textile
Industries Ltd.,
etc.
04701591
0039801
Managing
Director: Mrs. Wong Cha May Lung,
Madeline
Contact
Person: Mr. Cheng Kam On
Nominal Share
Capital: HK$100,100.00 (Divided into 100,100 shares of HK$1.00 each)
Issued Share
Capital: HK$100,100.00
(As per registry
dated 16-08-2012)
|
Name |
|
No. of shares |
|
CDP Ltd. |
|
100,100 ====== |
(As per registry
dated 16-08-2012)
|
Name (Nationality) |
Address |
|
INN Sou Yung,
Teddy |
Flat 2, 19/F., Block
B, Wilshire Tower, 200 Tin Hau Temple Road, North Point, Hong Kong. |
|
|
Flat D, 29/F.,
Block 3, Victoria Centre, |
|
WONG CHA May
Lung, Madeline |
Flat 2, 7/F.,
Block C, DB Plaza, |
|
WONG Chi Keung |
|
|
WONG Yue Shing |
Flat A, 7/F., |
(As per registry
dated 16-08-2012)
|
Name |
Address |
|
TONG Man Yi, Amy |
Room 3307, 33/F.,
King Yuet House, King Nga Court, Tai Po, New Territories, Hong Kong. |
The subject was
incorporated on 16th August, 1974 as a private limited liability company under
the Hong Kong Companies Ordinance.
Originally the
subject was registered under the name of Rosenheath Ltd., name changed to the
present style on 9th October, 1987.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Dyeing and Printing Product Trader.
Lines: Great
varieties of viscose rayon, cotton, ramie, linen, polyester and their blends in
numerous, finishing such as microsand, Teflon, easy care, raised and brushed.
Employees: 22.
(Including associate)
Markets:
Terms/Sales: L/C,
T/T or D/P.
Terms/Buying: As per contracted.
Federation of
Hong Kong
Productivity Council,
Nominal Share
Capital: HK$100,100.00 (Divided into 100,100 shares of HK$1.00 each)
Issued Share
Capital: HK$100,100.00
Alternation of
Capital:-
|
16-08-1974 |
paid up |
HK$ 2.00 |
|
15-05-1978 |
paid up |
HK$ 2,498.00 |
|
27-12-1985 |
paid up |
HK$ 7,500.00 |
|
05-12-2000 |
paid up |
HK$ 90,000.00 |
|
30-07-2003 |
paid up |
HK$ 100.00 |
|
|
|
––––––––––––– |
|
Total: |
paid up |
HK$ 100,100.00 ============ |
Increases of
Nominal Capital:-
|
From |
HK$ 10,000.00 |
to |
HK$100,000.00 |
on |
24-11-2000 |
|
From |
HK$100,000.00 |
to |
HK$100,100.00 |
on |
15-07-2003 |
Indebtedness: HK$19,238,785.08 (Total amount outstanding on all mortgages
and charges as per last Annual Return dated 16-08-2012)
Mortgage or
Charge: (See
attachment)
Profit or Loss: Operation is profitable.
Condition: Keeping
in an active state.
Facilities: Making
rather active use of general banking facilities.
Payment: Met
as required.
Commercial
Morality: Good.
Bankers:-
Standard Chartered
Bank (Hong Kong) Ltd.,
The Hongkong &
Shanghai Banking Corp. Ltd.,
Shanghai Commercial
Bank Ltd.,
Standing: Very
Good.
China Dyeing
Holdings Ltd. is a wholly-owned subsidiary of CDP Ltd. which is a
BVI-registered firm.
The associate of
the subject China Dyeing Works Ltd. [CDW], established in Hong Kong in 1949,
has grown to become one of Asia’s leading dyeing and printing fabric
suppliers. The subject is one of the
main operating companies of CDW.
With the
headquarters in Hong Kong, the subject has now extended its presence to the
In 1993, the
subject’s 48,000 sq.m. Yuen Long factory was opened. It was based on the most up-to-date
technology and included the largest floor area ever constructed in
The subject
established
The subject
provides customers with bleaching, dyeing, mercerising, finishing of woven
fabrics. It is able to get the
‘Certificate of Hong Kong Origin -- CEPA’.
Its main products
are the followings:-
Cotton, polyester/cotton,
linen, cotton/ silk, rayon, lycra, T400, and their blended, lurex, tencel,
compact yarn, bamboo, coolmax, warmtex, plain weave, twill, satin, dobby,
velvet, corduroy, moleskin, stretch, yarn dye, seersucker, apparel fabrics and
bed linen, etc.
The following firms
are some of the subject’s main customers:-
Calvin Klein,
Banana Republic, J. Crew, JCPenney, Jones New York, Gerry Weber, Van Heusen,
Vans, EXPRESS, Wrangler, Calvin Klein Jeans, Lee, Timberland, Tommy Hilfiger,
Perry Ellis, Polo Ralph Lauren, Esprit, SAMOON, Your M&S, L.L.Bean,
Gymboree, We Fit Your Life, Limited Too, Nautica, Ann Taylor, Abercrombie &
Fitch, Liz Claiborne Inc., etc.
Now, the subject
has set up associated companies in
The subject is in
fact a part of The Cha Textiles Group.
The Group principally is engaged in traditional woven textile business
and non-woven industrial products. To
keep abreast with the latest technology, the Group has expanded into synthetic
fibre and yarn, digital printing, thermoplastic polyurethane chips, spandex
filament and tape production. It has
consequently built a global network with operations in
Group growth has
primarily been internal, but punctuated by occasional acquisitions, joint
ventures and investments in areas where existing manufacturing capacity,
management or trademarks would improve and hasten Group entry into a given
market. Certain companies are publicly
listed while most operate collectively as privately-held members of the Cha
Group.
The Group has
established a unique reservoir of skill and technology, with a depth of
experienced management unmatched anywhere in the world. Over the past few decades, it has upgraded,
made major reinvestments in machinery and efficiency initiatives, created
management development and staff training programs and developed new products
and markets.
The Cha Textiles
Group can be categorized into several divisions:-
CDW International;
Cha Group in
Cha Group in
Cha Technologies.
The subject is
fully supported by The Cha Textiles Group.
Annual sales turnover is significant.
The Group has over
300 employees in
The history of the
subject in
On the whole,
consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
19-12-1991 |
Instrument: Mortgage
of Shares Property: 1) By way of first legal mortgage, the
Shares 2) By way of assignment, all the
Mortgagor’s right, title, interest and benefit in and to the Assigned Monies Mortgagee: Standard
Chartered Bank, Hong Kong Branch.
[Business transferred to Standard Chartered Bank ( |
To secure the due
and punctual payment of the Secured Indebtedness |
|
09-01-1996 |
Instrument: Charge
Over Equipment Property: a) By way of first fixed charge the
Equipment b) By way of assignment the benefit of
all policy or policies of insurance effected or to be effected in respect of
the Equipment Mortgagee: Standard
Chartered Bank, Hong Kong Branch.
[Business transferred to Standard Chartered Bank ( |
To secure the due
and punctual payment of the Secured Indebtedness |
|
16-12-1996 |
Instrument: Insurance
Assignment Property: Subsection 2 of
Section E of Yuen Long Town Lot No. 313, Yuen Long, New Territories, Hong
Kong. Mortgagee: Standard
Chartered Bank, Hong Kong Branch [Business transferred to Standard
Chartered Bank ( |
To secure the due
and punctual payment of the Secured Indebtedness |
|
16-12-1996 |
Instrument: Legal
Charge and Debenture Property: Subsection 2 of
Section E of Yuen Long Town Lot No. 313, Yuen Long, New Territories, Hong
Kong. Mortgagee: Standard
Chartered Bank, Hong Kong Branch [Business transferred to Standard
Chartered Bank ( |
To secure the due
and punctual payment of the Secured Indebtedness and the due and punctual
observance and performance by the Borrower of all other obligations of the
Borrower contained in the Loan Agreement dated 16-12-1996 to make available
to the Borrower a loan facility of up to HK$172,000,000 |
|
21-02-1997 |
Instrument: Subordination
Deed Property: a) the Subordinated Indebtedness owing
to each of the Subordinated Lenders b) the Subordinated Lenders shall not
claim, request, demand, sue for, take or receive any money or other property c) if any monies or other property are
received in respect of the Subordinated Indebtedness by or on behalf of the
Subordinated Lenders d) if any Charge is created as security
for the Subordinated Indebtedness Mortgagee: CDW
International Ltd., Cayman Islands as agent for Subliprint Holdings Ltd.,
British Virgin Islands. |
All monies,
obligations and liabilities of the Loan agreement dated 16-12-1996 to make
available to the Borrower a loan facility of up to HK$172,000,000 |
|
27-11-2000 |
Instrument: Assignment
of DC Proceeds re export bills restricted to other banks for
negotiation/payment Property: By way of
assignment or agreement to assign in each case as beneficial owner: All monies in any currency representing
proceeds payable or to be paid to the Customer under the Documentary Credits,
all the Customer’s right, title and interest in the said Documentary Credits
and the benefit of all powers and remedies for enforcing the Documentary
Credits Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., |
All loans or
other advances made or to be made by the Bank to the Customer against documents
submitted under a Documentary Credit, all monies and liabilities in any
currency owing by the Customer to the Bank at any time, whether separately or
jointly, actually or contingently, present or future, interest on all loans
and advances and such monies and all expenses of the Bank in perfecting or
enforcing the Assignment |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.08 |
|
|
1 |
Rs.89.53 |
|
Euro |
1 |
Rs.72.77 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.