MIRA INFORM REPORT
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Report Date : |
08.02.2012 |
IDENTIFICATION DETAILS
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Name : |
KSP
LTD. |
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Formerly Known As : |
Well Express Ltd |
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Registered Office : |
Unit 1506, 15/F., One Harbourfront, 18 Tak Fung Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.08.1992 |
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Com. Reg. No.: |
16436382 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Garments, other textile products, furniture, electric appliances, etc. |
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No. of Employees
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15 (Including affiliates) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
KSP LTD.
Company ADDRESS
Unit 1506, 15/F., One Harbourfront, 18 Tak Fung Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2954 2266, 2272 0701
FAX: 2954 2890
E-MAIL: peter.ho@ksphkg.com
MANAGEMENT
Managing Director: Mr. Wu Chi Jai, Johnico
SUMMARY
Incorporated on: 18th August, 1992.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1,000.00
Business Category: Importer and Exporter.
Group Annual Turnover: HK$350~400 million
Employees: 15. (Including affiliates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Unit 1506, 15/F., One Harbourfront, 18 Tak Fung Street, Hunghom, Kowloon, Hong Kong.
Holding Company:-
The Bridge Holding Ltd., Hong Kong. (Same address)
Associated/Affiliated
Companies:-
Bridge Group of Companies
· Canway Industries Ltd., China.
· Canway Industries Ltd., Hong Kong.
· Carlton Garments (Pvt) Ltd., Sri Lanka.
· Continental Apparel (Pvt) Ltd., Sri Lanka.
· CSV Ltd., Hong Kong.
· East Asia Buying Services Ltd., Hong Kong.
· Fabritex Exports (Pvt) Ltd., India.
· Fillberg Ltd., Hong Kong.
· Hoodvian Ltd., Hong Kong.
· Koggala Garments (Pvt) Ltd., Sri Lanka.
· Noveltrade International Ltd., Hong Kong.
· Osprey Clothing (Pvt) Ltd., Sri Lanka.
· Riviera Ltd., Israel.
· T.S.I. Industries (Pvt) Ltd., India.
· Wingreat Ltd., Hong Kong.
· Wingreat Ltd., Sri Lanka.
· Wingreat Ltd., Taiwan.
· Wingreat Ltd., Vietnam.
· Wingreat Shenzhen, China.
etc.
BUSINESS REGISTRATION NUMBER
16436382
COMPANY FILE NUMBER
0374695
MANAGEMENT
Group Chairman & Chief Executive Officer: Mr. Mordechai Kafry
Managing Director: Mr. Wu Chi Jai, Johnico
Contact Person: Ms. Viola Chan
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000.00
SHAREHOLDERS
(As per registry
dated 18-08-2011)
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Name |
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No. of shares |
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The Bridge Holding Ltd., Hong Kong. |
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600 |
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Multihulls Trading Ltd., Hong Kong. |
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400 |
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––––– |
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Total: |
1,000 ==== |
DIRECTORS
(As per registry
dated 18-08-2011)
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Name (Nationality) |
Address |
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Mordechai KAFRY |
1/F., May Tower II, 5 May Road, Hong Kong. |
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WU Chi Kai, Johnico |
Flat B, 18/F., Tower 10, Parc Royale, 8 Hin Tai Street, Shatin, New Territories, Hong Kong. |
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Malik Devapriya SAMARAWICKRAMA |
50/24 Bullers Lane, Colombo, Sri Lanka. |
SECRETARY
(As per registry
dated 18-08-2011)
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Name |
Address |
Co.
No. |
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Pink Camillia Co. Ltd. |
23/F., Wing On House, 71 Des Voeux Road Central, Hong Kong. |
0105033 |
HISTORY
The subject was incorporated on 18th August, 1992 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Well Express Ltd., name changed to the present style on 21st June, 1996.
The subject moved to the present address in August 2003.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: Garments, other textile products, furniture, electric appliances, etc.
Employees: 15. (Including associates)
Commodities Imported: Sri Lanka, China, other Asian countries, etc.
Markets: Asian countries, Europe, North America, etc.
Group Annual Turnover: HK$350~400 million
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, D/P, O/A, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000.00
Mortgage or
Charge:-
Date of Security Over Deposits: 30-07-2004
Amount: (i) all monies in any currency owing by the Company to the chargee at any time, actually or
contingently, in any capacity, alone or jointly with any other person, (ii) interest on such monies, to the date on which the chargee receives payment, at the rates payable by the Company or which would have been payable but for any circumstance which restricts payment and (iii) all expenses of the chargee in perfecting or enforcing the charge
Property: A deposit with chargee in the amount of US$400,000 and “all monies” under Deposit A/C No.
012-544599, whatever currency it may subsequently be denominated in, any renewal of such deposit and the interest thereon together with any further monies in any deposit account with the chargee at any of its offices
Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active condition.
Facilities: Making quite 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 1,000 ordinary shares of HK$1.00 each, KSP Ltd. is jointly owned by The Bridge Holding Ltd. [Bridge], holding 60% interests; and Multihulls Trading Ltd., holding 40%.
The subject is trading in garments, other textile products, furniture, electric appliances, etc. It seems that the subject’s main business is garment trading.
Bridge was founded in 1996 and its headquarters are located in Hong Kong. The Bridge Group is headed by the Chairman of the Board and Chief Executive Officer – Mr. Mordechai Kafry.
The main activities of the Group are:-
· Manufacturing
· Buying Office
· Retailing
· Investment
The subject has had an associated company Hoodvian Ltd. [Hoodvian] located at its operating office. Hoodvian is the manufacturing arm of the Bridge Group with facilities in Sri Lanka, India and China. Britannia Global Trading Group Ltd. is the sales office for Hoodvian in the United Kingdom. Hoodvian is a garment manufacturer and trader. It has had affiliated manufacturing facilities in Sri Lanka, India, and China.
In Sri Lanka only, the Bridge Group has about 4,000 employees.
The subject is fully supported by the Bridge Group. The Group is trading in the following commodities:-
· Jacket – Men (Excluding Ski-Jacket)
· Jacket – Ladies (Excluding Ski-Jacket)
· Blouses
· Coats
· Jeans
· Dresses and Skirts
· Bridal Gown
· Evening and Party Dresses
· Shirts
· Trousers and Slacks
· Cardigan , Sweater and Pullover
· Tee and Sweat Shirts
· Household Products – Glass
· Household Products – Metal
· Household Products – Plastic
· Household Products – Wooden
· Furniture – Chinese Style
· Furniture – Western Style
· Furniture – Outdoor
The annual sales turnover of the Bridge Group ranges from HK$350 to 400 million. Making a small profit every year.
The contact person of the subject is Ms. Viola Chan. The history of the subject in Hong Kong is over nineteen years and five months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.92 |
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UK Pound |
1 |
Rs.77.31 |
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Euro |
1 |
Rs.64.12 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.