MIRA INFORM REPORT
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Report Date : |
20.03.2012 |
IDENTIFICATION DETAILS
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Name : |
MEDIKE
HONG KONG LTD. |
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Registered Office : |
9/F., Lok Kui Industrial Building, 6-8 Hung To Road, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.05.2007 |
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Com. Reg. No.: |
37920356 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Manufacturer of Leather, synthetic paper labelling for textile and jeans, etc. |
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No. of Employees
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10 |
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 : |
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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
MEDIKE HONG KONG LTD.
9/F., Lok Kui Industrial Building, 6-8 Hung To Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 3426 8140
FAX: 3426 3844
E-MAIL: tom.or@medike.com
Managing Director: Mr. Kevin James Walters
Incorporated on: 9th May, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Manufacturer.
Employees: 10.
Main Dealing Banker: Bank of Montreal, Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head Office:-
9/F., Lok Kui Industrial Building, 6-8 Hung To Road, Kwun Tong, Kowloon, Hong Kong.
Associated Companies:-
Medike Leather Products Ltd., Canada.
Medike LLC, USA.
37920356
1131157
Managing Director: Mr. Kevin James Walters
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry
dated 09-05-2011)
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Name |
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No. of shares |
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Kevin James WALTERS |
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10,000 ===== |
(As per registry
dated 01-12-2011)
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Name (Nationality) |
Address |
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Kevin James WALTERS |
216 Main Street West, Markdale, Ontario N0C 1H0, Canada. |
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Jonathan Matthew HARRIS |
54 Curtis Crescent, King City, Ontario L7B 1C3, Canada. |
(As per registry
dated 09-05-2011)
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Name |
Address |
Co.
No. |
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Steed (Nominees) Ltd. |
Room 502, 5/F., Golden Gate Commercial Building, 136‑138 Austin Road, Kowloon, Hong Kong. |
0052644 |
The subject was incorporated on 9th May, 2007 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, Exporter and Manufacturer.
Lines: Leather, synthetic paper labelling for textile and jeans, etc.
Employees: 10.
Raw Materials: Imported from Canada, USA, etc.
Markets: Hong Kong, China, Asian countries, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Mortgage or Charge:-
Date of Security Agreement by Way of Fixed Charges and Floating Charge: 01-12-2011
Amount: To secure all monies in respect of banking facilities owing at any time plus interest and all
expenses.
Property: (1) Fixed Charge Assets: (a) all the fixed property and assets of the Company; (b) all the
Company’s stocks, shares, unit trusts, bonds, debentures, notes, warrants and other securities; (c) all the Company’s book and other debts, revenues and claims; and (d) the Company’s uncalled capital, goodwill and all patents, patent applications, trademarks, trademark applications, trade names, registered designs and copyrights.
(2) Floating Charge Assets: all the Company’s undertaking and all other property, assets and rights.
Mortgagee: Bank of Montreal, Canada and BDC Capital Inc., Canada.
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Bank of Montreal, Hong Kong Branch.
Standing: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Medike Hong Kong Ltd. is wholly owned by Mr. Kevin James Walters who is a Canadian. He is a Canada passport holder and does not have the right to reside in Hong Kong permanently. He and Mr. Jonathan Matthew Harris are the directors of the subject.
The subject is a leather, synthetic paper labelling for textile and jeans. It is a member of the Medike Group [Medike]. The Group’s products are manufactured in Hong Kong, the United States and Canada. The head office of the Group is located at 216 Main Street West, Markdale, Ontario N0C 1H0, Canada. Besides the subject, the Group has had its sales office in the United States and Canada.
Since 1984, Medike has been the leading direct manufacturer of leather, synthetic and specialty patches and trim for the apparel industry. It has a strong reputation for innovation and a high quality production. Medike has developed a reputation for reliability and quality by focusing on their area of expertise, and developing specific manufacturing skills. It controls the sampling, and complete product development with in-house artists, and in-house die making and screen making. Serving the apparel industry, Medike has made investments and resources to research new materials and manufacturing techniques to provide its customers with new options each season.
Medike’s products are the followings:-
· Denim backpatches
· Leather trim
· Belts
· Accessories and promotional items
The subject’s products are marketed in Hong Kong, China and exported to the other Asian countries, Europe, North America, etc.
The history of the subject in Hong Kong is over four years and ten months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.12 |
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UK Pound |
1 |
Rs.79.37 |
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Euro |
1 |
Rs.66.02 |
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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.