MIRA INFORM REPORT
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Report Date : |
24.03.2012 |
IDENTIFICATION DETAILS
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Name : |
IDS
FASHIONS HONG KONG
LTD. |
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Formerly Known As : |
IDS Sourcing HK |
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Registered Office : |
c/o Sky Trend Corporate Services Ltd., Room 1215-1216, 12/F., Houston Centre, 63 Mody Road, Tsimshatsui East, Kowloon, Hong Kong. |
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Country : |
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Date of Incorporation : |
04.10.2006 |
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Com. Reg. No.: |
37221536 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of garments, etc. |
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No. of Employees
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Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in Hong Kong |
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Payment
Behaviour : |
Unknown |
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Litigation : |
---- |
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) |
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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 |
IDS FASHIONS HONG
KONG LTD.
c/o Sky Trend Corporate Services Ltd.
Room 1215-1216, 12/F., Houston Centre, 63 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.
PHONE: 2567 3297
FAX: 2567 3552
Managing Director: Mr. Mohd. Idris Shakur
Incorporated on: 4th October, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$2,000.00
Business Category: Garment Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
c/o Sky Trend Corporate Services Ltd.
Room 1215-1216, 12/F., Houston Centre, 63 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.
Associated
Companies:-
IDS Group of Companies
4 You Clothing Ltd., Bangladesh.
Fashion 2000 Ltd., Bangladesh.
Fashion Forum Ltd., Bangladesh.
Fashion Washing Ltd., Bangladesh.
37221536
1078248
Managing Director: Mr. Mohd. Idris Shakur
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000.00
(As per registry dated
04-10-2011)
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Name |
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No.
of shares |
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Mohd.
Idris SHAKUR |
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1,500 |
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Prakash Satyanarayan SINGH |
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500 |
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––––– |
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Total: |
2,000 ==== |
(As per registry
dated 04-10-2011)
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Name (Nationality) |
Address |
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Prakash
Satyanarayan SINGH |
301-302, Abhijit, Kores Nakshatra, Vartak
Nagar, Thane (W), Maharashtra, India. |
|
Mohd. Idris
SHAKUR |
House 56, Road 7A, Dhanmondi, Dhaka,
Bangladesh. |
(As per registry
dated 04-10-2011)
|
Name |
Address |
Co.
No. |
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Sky
Trend Corporate Services Ltd. |
Room 1215-1216, 12/F., Houston Centre, 63 Mody Road, Tsimshatsui
East, Kowloon, Hong Kong. |
1255765 |
The
subject was incorporated on 4th October, 2006 as a private limited liability company
under the Hong Kong Companies Ordinance.
Originally
the subject was registered under the name of IDS Sourcing HK Ltd., name changed
to the present style on 10th August, 2009.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer and Exporter.
Lines: All kinds of garments, etc.
Employees: Nil.
Commodities Imported: Bangladesh, China, other Asian countries, etc.
Markets: Europe, etc.
Terms/Sales: As per contracted.
Terms/Buying: Prepayment, L/C, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000.00
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business is not active in Hong Kong.
Facilities: Making fairly active use of general banking facilities.
Payment: Unknown
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having
issued 2,000 ordinary shares of HK$1.00 each, IDS Fashions Hong Kong Ltd.
is jointly owned by Mr. Mohd. Idris Shakur, holding 75% interests; and Mr.
Prakash Satyanarayan Singh, holding 25%.
They are also directors of the subject.
The former is a Bangladesh passport holder and currently residing in
Bangladesh while the latter is an India passport holder and currently residing
in India.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Room
1215-1216, 12/F., Houston Centre, 63 Mody Road, Tsimshatsui East, Kowloon, Hong
Kong known as Sky Trend Corporate Services Ltd. which is handling its
correspondences and documents. This firm
is also the corporate secretary of the subject.
The
subject has no employees in Hong Kong.
The
subject is a garment trader. It is a
member of the IDS Group which is in Bangladesh.
IDS
Group is one of the leading woven apparel manufacturing group of companies
located at Mirpur, Dhaka City. It has
three independent production units producing all type of woven garments like
men’s shirt, ladies blouse, ladies dresses, denim jeans, shorts and trousers,
over alls, short alls, rompers, skirts and children wears.
The
Group was set up in 1999. It is a well
reputed, fast growing 100% export oriented woven garments manufacturer group in
Ashulia, Bangladesh. The Group has a
total of approximately 6,200 employees engaged in production and management. Monthly production capacity of the Group
ranges from 850,000 to 1,000,000 units of garments. The Group sources its fabrics and accessories
in Bangladesh as well as in China, India, South Korea, Taiwan and Hong
Kong. 100% of its products are exported
to Europe. Mr. Mohd. Idris Shakur is the
managing director of the IDS Group.
It
is likely that IDS Group deals with foreign parties under the name of the
subject and let foreign firms correspond with the subject’s registered address
in Hong Kong. The Bangladesh firm also
exports commodities to foreign markets under the name of the subject and its
registered address in Hong Kong.
The
subject’s history in Hong Kong is over five years and five months.
On
the whole, consider it good for normal business engagements on secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.50.91 |
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UK Pound |
1 |
Rs.80.77 |
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Euro |
1 |
Rs.67.40 |
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.