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Report Date : |
28.06.2012 |
IDENTIFICATION DETAILS
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Name : |
BLACK PEONY (HK) LTD. |
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Registered Office : |
Unit E, 23/F., Tower A, Billion Centre, 1 Wang Kwong Road,
Kowloon Bay, Kowloon |
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Country : |
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Date of Incorporation : |
18.08.2004 |
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Com. Reg. No.: |
34833077 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Textile Product Trader like, Garments, Textile Products, etc. |
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No. of Employees : |
12 |
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 : |
Good |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
BLACK
PEONY (HK) LTD.
Unit
E, 23/F., Tower A, Billion Centre, 1 Wang Kwong Road, Kowloon Bay, Kowloon,
Hong Kong.
PHONE: 2390 3313
FAX: 2787 5058
E-MAIL: mail@blackpeony.com.hk
Managing
Director: Ms. Chan Lai Yu
Incorporated on: 18th August, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$5,000,000.00
Business Category: Textile Product Trader.
Group Turnover: RMB3,362,636,703.80 Yuan (Year ended 31-12-2011)
Employees: 12.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
BLACK PEONY
(HK) LTD.
Registered Head Office:-
Unit
E, 23/F., Tower A, Billion Centre, 1 Wang Kwong Road, Kowloon Bay,
Kowloon, Hong Kong.
Holding Company:-
Black
Peony (Group) Co. Ltd., China.
Associated Companies:-
Changzhou
Black Peony Properties Ltd., China.
Changzhou
New Hope Agriculatural Investment Development Co Ltd., China.
Changzhou
Rong Yuan Garments Co. Ltd., China.
Changzhou
Dade Textile Co. Ltd., China.
etc.
34833077
0917538
Managing
Director: Ms. Chan Lai Yu
Nominal
Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued
Share Capital: HK$5,000,000.00
(As per registry dated 18-08-2011)
|
Name |
|
No. of shares |
|
CHAN Chi Ngok |
|
250,000 |
|
CHAN Lai Yu |
|
250,000 |
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Black Peony (Group) Co. Ltd. No. 47 Qingyang Road North, Changzhou Jiangsu, China, P.C.
2136001 |
|
4,500,000 |
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|
|
––––––––– |
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Total: |
5,000,000 ======== |
(As per registry dated 18-08-2011)
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Name (Nationality) |
Address |
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CHAN
Lai Yu |
Flat G, 33/F., Tower 2,
Caribbean Coast, Tung Chung, New Territories, Hong Kong. |
|
MA
Guoping |
Unit 401, Block 204, Xixinqiao
Third Village, Zhonglau District, Changzhou City, Jiangsu Province, China. |
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LU
Qing |
Room 602, F Unit, Block 7,
Yikang Garden, Tianning District, Changzhou City, Jiangsu Province, China. |
|
GE
Ya Fang |
No. 47 He Ping Road South, Changzhou,
Jiangsu, China. |
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CHAN
Chi Ngok |
Unit D, 23/F., Tower 2,
Caribbean Coast, 2 Kin Tung Road, Tung Chung, New Territories, Hong Kong. |
(As per registry dated 18-08-2011)
|
Name |
Address |
Co. No. |
|
Confiance Accounting & Secretarial Services Ltd. |
12/F., Goodfit Commercial Building, 7 Fleming Road,
Wanchai, Hong Kong. |
0403017 |
The subject was incorporated on 18th August, 2004 as a private
limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1605-1606, 16/F.,
Enterprise Square Two, 3 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong,
moved to the present address with effect from 6th January, 2012.
Apart from these, neither material change nor amendment has been
ever traced and noted.
Activities: Textile Product Trader.
Lines: Garments, Textile Products, etc.
Employees: 12.
Commodities Imported: China, Europe, other Asian countries, etc.
Markets: Asian countries, Europe, North America, Central & South America, etc.
Group Turnover:-
RMB2,395,537,161.59 Yuan (Year ended 31-12-2009)
RMB2,700,908,116.20 Yuan (Year ended 31-12-2010)
RMB3,362,636,703.80 Yuan (Year ended 31-12-2011)
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
Mortgage or Charge: (See attachment)
Group Profit Attributable to Shareholders:-
RMB364,559,271.46 Yuan (year ended 31-12-2009)
RMB393,938,597.26 Yuan (year ended 31-12-2010)
RMB253,444,585.68 Yuan (year ended 31-12-2011)
Group profit or loss: Group business is profitable.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Hang Seng Bank Ltd., Hong Kong.
Standing: Good.
Black Peony (HK) Ltd. is a 90% subsidiary of Black Peony (Group)
Co. Ltd. [Black Peony Group/Group] which is a China-based firm.
Black Peony Group is a listed firm in Shanghai, China,
The subject is a garment and textile product trader. It is specialized in jeans.
The Group was founded in 1940.
It has been engaged in jean manufacturing since 1980s, which has been
one of the earliest manufacturers in China.
In succeeding to the original business of jean, clothes and
yarn-dyed-fabrics, the Group initiated a brand new business, city function
development in February 2009 after significant assets reorganization.
The Group now owns RMB6.5 billion Yuan in gross assets, RMB3.3
billion Yuan in net assets and more than 4,000 employees. Besides, the Group’s shares were traded in
Shanghai Securities Exchange in June 2002.
The code of the share is 600510.
Textile is the main basic industry of Black Peony. The Group is able to produce yarns, fabrics,
and clothes. The annual capacity is 60
million meters, 8 million units of clothes and 21,000 tons of yarns. The Group has been authenticated by ISO9001
quality management system, ISO14001 environment system, SA8000 social
responsibility management system and Oeko-Tex Standard 100 zoological textile.
Besides, the Group has been honoured as China Famous Brand, and
Black Peony Jean has been evaluated as China famous product, and it is the
first exported enterprise that the State Quality Quarantine Bureau has approved
it to be “inspection-free”. Its products
have been exported to the United States, Japan, Russia, Hong Kong, Australia,
etc., other more than 50 countries and regions of the world.
For the year ended 31st December, 2011, the turnover of the Group
was RMB3,362.6 million Yuan (2010: RMB2,700.9 million Yuan). Group profit attributable to shareholders
amounted to RMB253.4 million Yuan (2010: RMB3,94.0 million Yuan).
According to the Group, in FY 2011, the total assets of the
subject amounted to RMB124.6 million Yuan, net assets amounted to RMB17.4
million Yuan, net profit was RMB5.7 million Yuan.
The subject is fully supported by the Group. Its business in Hong Kong is chiefly handled
by Ms. Chan Lai Yu.
As the history of the subject is over seven years in Hong Kong, on
the whole, consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
21-04-2010 |
Instrument: Security Over Deposit in respec
Obligations of the Depositor Property: By way of first fixed charge
to the Chargee the account No. 861530033838 and all deposits form time to
time therein which expression includes all and every deposit and any currency Mortgagee: The Industrial & Commercial Bank of
China, Hong Kong Branch. |
All monies and liabilities |
|
25-03-2011 |
Instrument: Mortgage Property: All Those 212 equal undivided
33,578th parts or shares of and in New Kowloon Inland Lot No. 6204 (All Those
Units 5 and 6 on the 16/F., and Parking Space No. P30 on the 3/F., Enterprise
Square Two, No. 3 Sheung Yuet Street, Kowloon, Hong Kong). Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
All sums form time to time advanced by the Lender to the
Company |
|
25-03-2011 |
Instrument: Mortgage Property: All Those 8 equal undivided
70,000 parts or shares of and in The Remaining Porting of New Kowloon Inland
Lot No. 5925 (All Those Car Parking Spaces No. P46 and P47 on the 1/F.,
Billion Centre, No. 1 Wang Kwong Road, Kowloon, Hong Kong). Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
All sums from time to time advanced by the Lender to the
Company |
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25-03-2011 |
Instrument: Mortgage Property: All Those 645 equal undivided 70,000
parts or shares of and in The Remaining Portion of New Kowloon Inland Lot No.
5925 (All Those unit Knows as Unit E on the 23/F., of Tower A and Office E on
the 23/F. of Tower B, Billion Centre, No. 1 Wang Kwong Road, Kowloon, Hong
Kong). Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
All sums from time to time advanced by the Lender to the
Company |
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30-11-2011 |
Instrument: Charge Over Deposits/Securities Property: The Chargor Charges by way of first
fixed charge to the Bank all the right, title and interest of the Chargor in
and to the Charged Assets Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
All monies in any currency by the Company to Hang Seng
Bank Ltd. at any time, actually or contingently. in any capacity, alone or
jointly with any other person. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.57.21 |
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|
1 |
Rs.89.42 |
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Euro |
1 |
Rs.71.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
-- |
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.