MIRA INFORM REPORT

 

 

Report Date :           

25.02.2012

 

IDENTIFICATION DETAILS

 

Name :

RAINBOW  LEGEND  (HONG  KONG)  LTD.

 

 

Registered Office :

c/o Gee Kay Systems & Accounting Ltd., Room 1308, 13/F., CEO Tower, 77 Wing Hong Street, Cheung Sha Wan, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

22.02.2005

 

 

Com. Reg. No.:

35362039

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is a garment, fabric, and textile product trader

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Small Company 

 

 

Payment Behaviour :

Unknown

 

 

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

 

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

 

Company name

 

RAINBOW  LEGEND  (HONG  KONG)  LTD.

 

 

Company ADDRESS

 

Registered Office:-

c/o Gee Kay Systems & Accounting Ltd.

Room 1308, 13/F., CEO Tower, 77 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong.

[Tel: 2744 2685;  Fax: 3544 8091]

 

Holding Company:-

Global Textile Solution S.A., Belgium.

 

 

BUSINESS REGISTRATION NUMBER

 

35362039

 

 

COMPANY FILE NUMBER

 

0952571

 

 

DATE OF INCORPORATION

 

22nd February, 2005.

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10,000.00

 

 

SHAREHOLDER  

(As per registry dated 22-02-2011)

 

Name

 

No. of shares

Global Textile Solution S.A.

Rue De La Grande Couture, 2, 7522 Marquain, Belgium.

 

10,000

=====

 

 

DIRECTOR    

(As per registry dated 22-02-2011)

 

Name

Address

Global Textile Solution S.A.

Rue De La Grande Couture, 2, 7522 Marquain, Belgium.

 

 

SECRETARY 

(As per registry dated 22-02-2011)

 

Name

Address

Co. No.

Gee Kay Systems & Accounting Ltd.

Unit 710, 7/F., Block B, Alexandra Industrial Building, 1064 Tung Chau West Street, Lai Chi Kok, Kowloon, Hong Kong.

0680643

 

 

MORTGAGE OR CHARGE

 

Date of Deed of Charge on receivables and invoices (floating charge):  27‑09‑2010

 

Amount:            The total amount of all credit facilities

 

Property:           All receivables and invoices which the chargor has or will have on account of his debtors,

moreover by virtue of deliveries of goods and services and by virtue of all other commercial activities, which he proceeds, included all claims on the government and proceeds due under insurance policies

 

Mortgagee:        Dexia Bank, Belgium.

 

 

GENERAL

 

Rainbow Legend (Hong Kong) Ltd. was incorporated on 22nd February, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 1308, 13/F., CEO Tower, 77 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong known as Gee Kay Systems & Accounting Ltd. [Gee Kay] which is handling its correspondences and documents.  Gee Kay is also the corporate secretary of the subject.  Formerly Gee Kay was located at Unit 710, 7/F., Block B, Alexandra Industrial Building, 1064 Tung Chau West Street, Lai Chi Kok, Kowloon, Hong Kong, moved to the present address with effect from 18th August, 2011, so did the subject.

The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each which are wholly-owned by Global Textile Solution S.A. [GTS] which is a Belgium-based firm.  GTS is also the only director of the subject.

GTS is a garment, fabric, and textile product trader.  It has been banking with Dexia Bank which is in Brussels, Belgium.  GTS sources its commodities in Hong Kong, from China and other Asian countries, etc.

It is likely that GTS deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  GTS also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The history of the subject in Hong Kong is over seven years.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.07

UK Pound

1

Rs.77.19

Euro

1

Rs.65.57

 

 

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

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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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.