MIRA INFORM REPORT

 

 

Report Date :           

31.03.2012

 

IDENTIFICATION DETAILS

 

Name :

KONRAD  WORLDWIDE  LTD.

 

 

Registered Office :

Unit 1506, 15/F., One Harbourfront, 18 Tak Fung Street, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

14.08.2006

 

 

Com. Reg. No.:

37107542

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer and Exporter of Garments, other textile products, furniture, electric appliances, etc.

 

 

No. of Employees :

15.  (Including affiliates)

 

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

 

KONRAD  WORLDWIDE  LTD.

 

 

Company ADDRESS

 

Unit 1506, 15/F., One Harbourfront, 18 Tak Fung Street, Hunghom, Kowloon, Hong Kong.

PHONE:            2954 2266,  2272 0701

FAX:                 2954 2890

E-MAIL:            peter.ho@ksphkg.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Wu Chi Jai, Johnico

 

 

SUMMARY

 

Incorporated on:             14th August, 2006.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10.00

 

Business Category:        Importer and Exporter.

 

Group Annual Turnover:  HK$350~400 million

 

Employees:                   15.  (Including affiliates)

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

COMPANY ADDRESS

 

Registered Head Office:-

Unit 1506, 15/F., One Harbourfront, 18 Tak Fung Street, Hunghom, Kowloon, Hong Kong.

 

Holding Company:-

The Bridge Holding Ltd., Hong Kong.  (Same address)

 

Associated/Affiliated Companies:-

Bridge Group of Companies

·         Canway Industries Ltd., China.

·         Canway Industries Ltd., Hong Kong.

·         Carlton Garments (Pvt) Ltd., Sri Lanka.

·         Continental Apparel (Pvt) Ltd., Sri Lanka.

·         CSV Ltd., Hong Kong.

·         East Asia Buying Services Ltd., Hong Kong.

·         Fabritex Exports (Pvt) Ltd., India.

·         Fillberg Ltd., Hong Kong.

·         Hoodvian Ltd., Hong Kong.

·         Koggala Garments (Pvt) Ltd., Sri Lanka.

·         KSP Ltd., Hong Kong.

·         Noveltrade International Ltd., Hong Kong.

·         Osprey Clothing (Pvt) Ltd., Sri Lanka.

·         Riviera Ltd., Israel.

·         T.S.I. Industries (Pvt) Ltd., India.

·         Wingreat Ltd., Hong Kong.

·         Wingreat Ltd., Sri Lanka.

·         Wingreat Ltd., Taiwan.

·         Wingreat Ltd., Vietnam.

·         Wingreat Shenzhen, China.

etc.

 

 

BUSINESS REGISTRATION NUMBER

 

37107542

 

 

COMPANY FILE NUMBER

 

1066997

 

 

MANAGEMENT

 

Chairman & Chief Executive Officer:  Mr. Mordechai Kafry

Managing Director:  Mr. Wu Chi Jai, Johnico

Contact Person:  Ms. Viola Chan

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$10.00

 

 

SHAREHOLDER

(As per registry dated 14-08-2011)

 

Name

 

No. of shares

The Bridge Holding Ltd., Hong Kong.

 

10

==

 

 

DIRECTORS  

(As per registry dated 14-08-2011)

 

Name

(Nationality)

 

Address

Mordechai KAFRY

1/F., May Tower II, 5 May Road, Hong Kong.

 

SO Tat Ming

Flat A8, 12/F., Nam Hung Mansion, 5 Belcher’s Street, Hong Kong.

 

WU Chi Kai, Johnico

Flat B, 18/F., Tower 10, Parc Royale, 8 Hin Tai Street, Shatin, New Territories, Hong Kong.

 

 

SECRETARY

(As per registry dated 14-08-2011)

 

Name

Address

Co. No.

Teamwork Secretarial Co. Ltd.

20/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central, Hong Kong.

0248117

 

HISTORY

 

The subject was incorporated on 14th August, 2006 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.

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           Garments, other textile products, furniture, electric appliances, etc.

 

Employees:                   15.  (Including affiliates)

 

Commodities Imported:   Sri Lanka, China, other Asian countries, etc.

 

Markets:                       Asian countries, Europe, North America, etc.

 

Group Annual Turnover:  HK$350~400 million

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, D/P, O/A, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10.00

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in an active condition.

 

Facilities:                      Making quite active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Normal.

 

GENERAL

 

Having issued 10 ordinary shares of HK$1.00 each, Konrad Worldwide Ltd. is a wholly owned subsidiary of The Bridge Holding Ltd. [Bridge] which is located at the same operating address as the subject.

The subject is trading in garments, other textile products, furniture, electric appliances, etc.  However, it seems that the subject’s main business line is garment trading.

We can reach nobody as per your given phone number 53-1463 0100 as its service country is unknown.

Bridge was founded in 1996 and its headquarters are located in Hong Kong.  The Bridge Group is headed by the Chairman of the Board and Chief Executive Officer Mr. Mordechai Kafry.  Kafry is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The main activities of the Group are:-

·         Manufacturing

·         Buying office

·         Retailing

·         Investment

The subject has had an associated company KSP Ltd. [KSP] located at its operating address.  The subject and KSP are engaged in the same lines of business.

Besides KSP, the subject has had an associated company Hoodvian Ltd. [Hoodvian] located at its operating office.  Hoodvian is the manufacturing arm of the Bridge Group with facilities in Sri Lanka, India and China.  Britannia Global Trading Group Ltd. is the sales office for Hoodvian in the United Kingdom.  Hoodvian is a garment manufacturer and trader.  It has had affiliated manufacturing facilities in Sri Lanka, India, and China.

In Sri Lanka only, the Bridge Group has about 4,000 employees.

The subject is fully supported by the Bridge Group.  The Group is trading in the following commodities:-

·         Jacket – Men (Excluding Ski-Jacket)

·         Jacket – Ladies (Excluding Ski-Jacket)

·         Blouses

·         Coats

·         Jeans

·         Dresses and skirts

·         Bridal gown

·         Evening and party dresses

·         Shirts

·         Trousers and slacks

·         Cardigan , sweater and pullover

·         Tee and sweat shirts

·         Household products – glass

·         Household products – metal

·         Household products – plastic

·         Household products – wooden

·         Furniture – Chinese style

·         Furniture – Western style

·         Furniture – outdoor

Most of the products are exported to North America and Europe.

The annual sales turnover of the Bridge Group ranges from HK$350 to 400 million.  Making a small profit every year.

The contact person of the subject is Ms. Viola Chan.  The history of the subject in Hong Kong is over five years and seven months.

On the whole, consider the subject good for normal business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.16

UK Pound

1

Rs.81.72

Euro

1

Rs.68.34

 

 

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.