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Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHOW WIN INDUSTRIES LTD |
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|
|
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Registered Office : |
Flats D-E,
14/F., Block B, Marvel Industrial Building, 17-23 Kwai Fung Crescent, Kwai Chung,
New Territories |
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|
|
|
Country : |
Hong Kong |
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Date of Incorporation : |
24.02.1987 |
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Com. Reg. No.: |
10851699 |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Manufacturer and Exporter of all kinds of
cotton/TC/polyester knitted fabrics |
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No. of Employees : |
13 |
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 |
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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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SHOW WIN INDUSTRIES LTD.
Flats D-E, 14/F.,
Block B, Marvel Industrial Building, 17-23 Kwai Fung Crescent, Kwai Chung, New
Territories, Hong Kong.
PHONE: 2422 6008
FAX: 2420 3344
EMAIL: showwin@netvigator.com
Managing
Director: Mr. Chung Tai Ho, Patrick
Incorporated on : 24th February, 1987.
Organization : Private Limited Company.
Capital: Nominal : HK$3,000,000.00
Issued: HK$3,000,000.00
Business Category : Knitted Fabric Manufacturer.
Employees : 13.
Main Dealing Banker : Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation : Satisfactory.
SHOW WIN
INDUSTRIES LTD.
Registered
Head Office:-
Flats D-E, 14/F.,
Block B, Marvel Industrial Building, 17-23 Kwai Fung Crescent, Kwai Chung, New
Territories, Hong Kong.
China
Factory:-
Guangzhou
Tongguang Knitted Fabric Manufacture Co. Ltd.
No. 15 Industrial
District, Chebei, Dongpu Town, Tianhe District, Guangzhou, Guangdong Province,
China.
[Tel: (86) 20-8230
1088; Fax: (86) 20-8230 1788]
Associated
Companies:-
Dongguan Tongguang
Textile Co. Ltd., China.
Ease Industrial
Ltd., Hong Kong. [Dissolved]
Tung Fat Knitting
Factory Ltd., Hong Kong. (Same address)
10851699
0183624
Managing
Director: Mr. Chung Tai Ho, Patrick
Nominal Share Capital:
HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$3,000,000.00
(As per registry dated 24-02-2011)
|
Name |
|
No.
of shares |
|
CHUNG
Tai Ho, Patrick |
|
2,940,000 |
|
CHAK Yin King |
|
60,000 |
|
|
|
–––––––– |
|
|
Total: |
3,000,000 ======= |
(As per registry dated 24-02-2011)
|
Name (Nationality) |
Address |
|
CHUNG Tai Ho,
Patrick |
1/F., Block 2, Rosary Villas, 1-19 Lok Lam
Road, Shatin, New Territories, Hong Kong. |
|
CHAK Yin King |
1/F., Block 2, Rosary Villas, 1-19 Lok Lam
Road, Shatin, New Territories, Hong Kong. |
(As per registry dated 24-02-2011)
|
Name |
Address |
Co.
No. |
|
Hui
& Wong Secretaries Ltd. |
Unit 1617, 16/F., The Metropolis Tower, 10 Metropolis Drive,
Kowloon, Hong Kong. |
0105081 |
The
subject was incorporated on 24th February, 1987 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 : Manufacturer and Exporter.
Lines : All kinds of cotton/TC/polyester knitted fabrics (sportwear and underwear).
Employees : 13. (Hong Kong) 250. (China)
Raw Materials : Mainly sourced from Hong Kong, China, other Asian countries, etc.
Markets : China, Middle East, Southeast Asia, etc.
Terms/Sales : L/C or T/T.
Terms/Buying : Various terms.
Federation of Hong
Kong Industries, Hong Kong. [Member
No. A7938]
Nominal Share Capital : HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share Capital : HK$3,000,000.00
Mortgage or Charge : (See attachment)
Profit or Loss : Making a small profit.
Condition : Keeping in a normal condition.
Facilities : Making active use of general banking facilities.
Payment : Met on time.
Commercial Morality : Satisfactory.
Bankers:-
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
DBS Bank (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Show
Win Industries Ltd., incorporated on 24th February, 1987, is chiefly owned by
Mr. Chung Tai Ho, Patrick, holding 98% interest. The other 2% is owned by Ms. Chak Yin
King. Seemed to be a couple, both of
Chung and Chak are directors of the subject.
Chung was one of the directors of Ease Industrial Ltd., a Hong Kong-registered
firm which has ceased business.
The
subject is engaged in manufacturing and exporting cotton/TC/polyester knitted
fabrics (for sportswear and underwear).
It has had two main factories in China, namely, Guangzhou Tongguang
Knitted Fabric Manufacture Co. Ltd. [Guangzhou Tongguang] and Dongguan
Tongguang Textile Co. Ltd. [DTTCL]. The
former is in Guangzhou City while the latter is in Dongguan City, Guangdong
Province, China.
Established
in 2000, DTTCL is engaged in manufacturing all kinds of knitted fabrics. It has about 140 employees.
Including
the employees of Guangzhou Tongguang, there are about 250 employees in China.
Most
of the subject’s products are marketed in China, exported to the Middle East,
Southeast Asia, etc. Business is rather
active.
According
to the subject, its annual sales turnover is over HK$400 million which we
consider too large.
As
the history of the subject is about 25 years in Hong Kong, on the whole,
consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
22-08-1987 |
Instrument: Legal
Charge Property: 71/6,611th parts or shares of and in Kwai
Chung Town Lot No. 337 (Factory Unit D-H on 14/F. of Block B of Marvel Industrial
Building, 17-23 Kwai Fung Crescent, Kwai Chung, New Territories, Hong Kong.) Mortgagee: Standard
Chartered Bank, Hong Kong Branch.
[Business transferred to Standard Chartered Bank (Hong Kong)
Ltd.] |
To secure general banking facilities granted to Tung Fat Knitting
Factory Ltd. |
|
12-12-1990 |
Instrument: Deed
of Variation Property: 71/6,611th parts
or shares of and in Kwai Chung Town Lot No. 337 (Factory Unit D-H on 14/F. of
Block B of Marvel Industrial Building, 17-23 Kwai Fung Crescent, Kwai Chung,
New Territories, Hong Kong.) Mortgagee: Standard
Chartered Bank, Hong Kong Branch.
[Business transferred to Standard Chartered Bank (Hong Kong)
Ltd.] |
To secure general banking facilities granted to Tung Fat Knitting
Factory Ltd. |
|
14-12-1992 |
Instrument: Legal
Charge Property: 84/3,100th parts
or shares of and in Sha Tin Town Lot No. 180 (1/F. of Block No. 2 and Car
Parking Space No. 7 & 8 of Rosary Villas, 1-19 Lok Lam Road, Shatin, New
Territories, Hong Kong.) Mortgagee: Standard
Chartered Bank, Hong Kong Branch.
[Business transferred to Standard Chartered Bank (Hong Kong)
Ltd.] |
To secure the due and punctual payment of the Secured Indebtedness |
|
10-07-2006 |
Instrument: Charge
on Cash Deposit to secure Liabilities of the Depositor Property: 1) By way of first fixed charge
and agreement to charge: the Deposit and all right, title and interest of the
Company 2) By way of set-off: any sum standing to the
credit of any one or more of the accounts of the Company with the Bank Mortgagee: DBS
Bank (Hong Kong) Ltd., Hong Kong. |
All sums of money and liabilities |
|
21-04-2010 |
Instrument: Mortgage Property: 11/569th parts or shares of and in New
Kowloon Inland Lot No. 5096 (Unit A on 9/F. of Chiap King Industrial
Building, 714 Prince Edward Road East & 114 King Fuk Street, Kowloon,
Hong Kong.) Mortgagee: DBS
Bank (Hong Kong) Ltd., Hong Kong. |
All monies |
|
31-08-2010 |
Instrument: Security
Agreement over Bank Account Property: By way of a first fixed charge all of the
Chargor’s rights in respect of any amount standing to the credit of the
Account Mortgagee: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure the payment and satisfaction |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.64.83 |
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.