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Report Date : |
10.03.2012 |
IDENTIFICATION DETAILS
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Name : |
GOLD STAR TEXTILES LTD. |
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Registered Office : |
Room 3208, 32/F., Cable TV Tower, 9 Hoi Shing Road, Tsuen Wan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.05. 2002 |
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Com. Reg. No.: |
32659447 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of fabrics, etc. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRAs 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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 |
GOLD STAR
TEXTILES LTD.
ADDRESS: Room 3208, 32/F., Cable TV
Tower, 9 Hoi Shing Road, Tsuen Wan, New Territories, Hong Kong.
PHONE: 2413 9101
FAX: 2413 4647
E-MAIL: goldstar@gstextile.com
gsgoldstar@gstextile.com
Managing Director: Mr. Wong Po
Chung
Incorporated on: 17th
May, 2002.
Organization: Private
Limited Company.
Capital: Nominal: HK$100,000.00
Issued: HK$100,000.00
Business Category: Fabric Trader.
Annual Turnover: HK$8~10
million.
Employees: 5.
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Room 3208, 32/F., Cable TV Tower, 9 Hoi Shing Road, Tsuen Wan,
New Territories, Hong Kong.
Associated Companies:-
Golden Sealine Textile Accessory Co. Ltd., China.
Hopewell Textile (H.K.) Ltd., Hong Kong.
(Same address)
32659447
0798561
Managing Director: Mr. Wong Po
Chung
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100,000.00
(As per registry dated 17-05-2011)
|
Name |
|
No. of shares |
|
WONG Po Chung |
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55,000 |
|
CHAN Wai Kin |
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45,000 |
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Total: |
100,000 ====== |
(As per registry dated 17-05-2011)
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Name (Nationality) |
Address |
|
CHAN Wai Kin |
Room 3208, 32/F., Cable TV Tower, 9 Hoi Shing Road, Tsuen Wan, New
Territories, Hong Kong. |
|
WONG Po Chung |
Room 2905, 29/F., Wang Chi House, Wang Fook Court, Tai Po, New
Territories, Hong Kong. |
CHAN Wai Kin (As per registry
dated 17-05-2011)
The subject was incorporated on 17th May, 2002 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: Importer
and Exporter.
Lines: All
kinds of fabrics, etc.
Employees: 5.
Commodities Imported: China, other Asian countries, etc.
Markets: Africa,
China, Japan, Korea, Taiwan, Southeast Asia, North America, Western Europe,
etc.
Annual Turnover: HK$8~10 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
normal manner.
Facilities:
Making rather
active use of general banking facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Hang Seng Bank Ltd., Hong Kong.
Bank of Communications Co. Ltd.,
Hong Kong Branch.
Standing:
Normal.
Having issued 100,000 ordinary shares of HK$1.00 each, Gold Star
Textiles Ltd. is jointly owned by Mr. Wong Po Chung, holding 55% interests; and
Mr. Chan Wai Kin, holding 45%. They
are also directors of the subject.
The subject is a fabric trader.
It has got an associated company Hopewell Textile (H.K.) Ltd.
[Hopewell], a Hong Kong-registered firm located at its operating address. Incorporated on 17th April, 1984, Hopewell is
trading in the type of products as the subject.
The subject is trading in the following commodities:-
·
Fabric Cotton
·
Knitted (Circular knitted/combed cotton, OEM)
·
Fabric Blended
·
Knitted (Poly-cotton/viscos-cotton/cotton-lycra,
OEM)
Products are sourced from China and other Asian countries. Prime markets are Africa, China, Japan, Korea,
Taiwan, Southeast Asia, North America, Western Europe, etc. Business is normal.
The annual sales turnover of the subject ranges from HK$8 to 10
million. Making a small profit every
year. The subject operates from a
self-owned office located its registered address.
As the history of the subject is over nine years and nine months in
Hong Kong, on the whole, consider it good for normal business engagements.
Property information of
the company:-
Property Location: Unit 8 on 32/F., Cable TV Tower, 9 Hoi
Shing Road, Tsuen Wan, New Territories, Hong Kong.
Owner: Gold Star Textiles Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
27-06-2003 |
- |
Bank of Communications, Hong Kong Branch. [Now known as Bank of Communications Co.
Ltd.] |
Mortgage to secure general banking facilities |
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Date |
Particulars |
Amount |
|
27-06-2003 |
Instrument: Mortgage Property: 200/177,500th parts or shares of and in Tsuen Wan Town Lot No. 218
(Unit 8 on 32/F. of Cable TV Tower, 9 Hoi Shing Road, Tsuen Wan, New
Territories, Hong Kong.) Mortgagee: Bank of Communications, Hong Kong
Branch. [Now known as Bank of
Communications Co. Ltd.] |
To secure general banking facilities |
|
03-04-2004 |
Instrument: Deed of Indemnity, Charge Over Deposit
and Set-Off Property: By way of Fixed Charge to the Bank all the Companys estate, right, title,
claim, benefit and interest to and in the Deposit (Account No.
027-554-2-003440-4, 027-554-0-002636-8, 027‑554-1-014352-9 and
027-554-9-202065-7) and all interest from time to time payable thereon and
together with all title deeds and documents relating thereto Mortgagee: Bank of Communications, Hong Kong
Branch. [Now known as Bank of
Communications Co. Ltd.] |
All actions, suits, proceedings, claims, demands, losses, damages,
costs, fees, expenses and/or liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.02 |
|
|
1 |
Rs.79.01 |
|
Euro |
1 |
Rs.66.18 |
RATING EXPLANATIONS
|
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 |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SCs 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.