MIRA INFORM REPORT

 

 

Report Date :           

28.01.2012

 

IDENTIFICATION DETAILS

 

Name :

COLVETA  (HK)  LTD.

 

 

Formerly Known As :

Colveta HK Ltd

 

 

Registered Office :

Room 1516-1519, 15/F., Ocean Centre, 5 Canton Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

26.02.1985

 

 

Com. Reg. No.:

09521611

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer, Importer and Exporter of Long and short skirts, blouses, men’s and ladies’ overcoats, shirts, and other garments

 

 

No. of Employees :

15

 

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

 

 

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 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

 

COLVETA  (HK)  LTD.

 

 

Company ADDRESS

 

Room 1516-1519, 15/F., Ocean Centre, 5 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2730 5866

FAX:                 2730 3516

E-MAIL:            colveta@colveta.com.hk

 

 

MANAGEMENT

 

Managing Director:  Ms. Kam Suet Mei, May

 

 

SUMMARY

 

Incorporated on:             26th February, 1985.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$450,000.00

Issued:              HK$450,000.00

 

Business Category:        Manufacturer, Importer and Exporter.

 

Annual Turnover:            HK$120~150 million.

 

Employees:                   15.

 

Main Dealing Banker:     ING Bank N.V., Hong Kong Branch.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 1516-1519, 15/F., Ocean Centre, 5 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

 

Holding Company:-

Colveta AG, Switzerland.

 

Associated Companies:-

Colveta (India) Ltd., India.

Colveta-Modas e Confecções Lda., Portugal.

 

 

BUSINESS REGISTRATION NUMBER

 

09521611

 

 

COMPANY FILE NUMBER

 

0147612

 

 

MANAGEMENT

 

Managing Director:  Ms. Kam Suet Mei

 

 

CAPITAL

 

Nominal Share Capital:   HK$450,000.00 (Divided into 450,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$450,000.00

 

 

SHAREHOLDERS

(As per registry dated 26-02-2011)

 

Name

 

No. of shares

Colveta AG

Winkelriedstrasse 47, P.O. Box 2546, CH-6002 Lucerne, Switzerland.

 

449,999

Alfred ELZAS

 

1

 

 

–––––––

 

Total:

450,000

======

 

 

DIRECTORS  

(As per registry dated 18-05-2011)

 

Name

(Nationality)

 

Address

KAM Suet Mei

Flat E, 4/F., Tower 25, Parc Oasis, 34 Grandeur Road, Kowloon, Hong Kong.

 

Lascombe Ltd.

Suite 2211, 22/F., Tower 2, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong.

 

 

SECRETARY

(As per registry dated 26-02-2011)

 

Name

Address

Co. No.

B C S Ltd.

8/F., Gloucester Tower, The Landmark, 15 Queen’s Road Central, Hong Kong.

0377050

 

 

HISTORY

 

The subject was incorporated on 26th February, 1985 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Collerion Ltd., name changed to Colveta HK Ltd. on 20th June 1985; and further changed to the present style on 14th July, 1987.

Formerly the subject was located at Room 803, 8/F., Ocean Centre, 5 Canton Road, Tsimshatsui, Kowloon, Hong Kong, moved to Room 1517-1519, 15/F. of the same building in October 2002.  The subject increased more floor space by occupying Room 1516 in September 2009.

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

 

OPERATIONS

 

Activities:                      Manufacturer, Importer and Exporter.

 

Lines:                           Long and short skirts, blouses, men’s and ladies’ overcoats, shirts, and other garments.

 

Employees:                   15.

 

Raw Materials:-

Raw materials – Europe, India, etc.

Finished products – China.

 

Markets:                       Switzerland and other European countries.

 

Annual Turnover:            HK$120~150 million.

 

Terms/Sales:                 As per contracted.

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$450,000.00 (Divided into 450,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$450,000.00

 

Profit or Loss:                Made profits in the past years.

 

Condition:                      Business is active and steady.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

Banker:                         ING Bank N.V., Hong Kong Branch.

 

Standing:                      Normal.

 

 

GENERAL

 

Colveta (HK) Ltd. is a wholly-owned subsidiary of Colveta AG [Colveta] which is a Switzerland-based firm.

Formerly known as Colveta HK Ltd., the subject is a garment trader.  It is trading in the following products:-

·         Suits and Jackets – Men’s (From China)

·         Suits and Jackets – Women’s (From China)

·         Blouses (From China)

·         Dresses and Skirts (From China)

·         Shirts (From China)

·         Trousers (From China)

·         Slacks (From China)

The subject carries the following main brands: “DIDI”, “SPS”, “VET”, etc.  Products are manufactured by its affiliated factories in Guangdong Province, China or sourced from other contractors.  Most of the garments are exported to Switzerland and other European countries.  Business is active and steady.

Colveta is a garment distributor in Switzerland.  The subject’s former director Mr. Francisco Manuel Freitas De Azevedo Miranda, a Portuguese merchant, is also the owner of Colveta.  Besides Switzerland, the subject also exports some of the garments to the Netherlands.

The main functions of the subject are raw materials sourcing, products marketing, payments settling for its affiliated factories in China.

Colveta is a rather significant garment distributor in Switzerland.  The subject has made rather good profits in some of the past years.

In the past years, the subject had certain amount of capitals deposited in ING Bank N.V., Hong Kong Branch for acquiring banking facilities.

The director of the subject Ms. Kam Suet Mei, May is a Hong Kong businesswoman.  The annual sales turnover of the subject ranges from HK$120 to 150 million.  Making a small profit every year.

The history of the subject is about twenty-seven 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.49.65

UK Pound

1

Rs.77.80

Euro

1

Rs.65.05

 

 

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.