MIRA INFORM REPORT

 

 

Report Date :           

19.05.2012

 

IDENTIFICATION DETAILS

 

Name :

MATSUMOTO  INDUSTRIAL  LTD.

 

 

Registered Office :

Flat F, 19/F., Ho Lee Commercial Building, 38-44 D’Aguilar Street, Central

 

 

Country :

Hong Kong  

 

 

Date of Incorporation :

05.11.1991

 

 

Com. Reg. No.:

15246869

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Garments, piecegoods, buttons, buckles, zippers, fashion accessories, etc

 

 

No. of Employees :

5.  (Including associates)

 

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

 

MATSUMOTO  INDUSTRIAL  LTD.

 

 

Company ADDRESS

 

Flat F, 19/F., Ho Lee Commercial Building, 38-44 D’Aguilar Street, Central, Hong Kong.

PHONE:            2851 6992

FAX:                 2851 7170

E-MAIL:            bharat@matsumotoind.com.hk

 

 

MANAGEMENT

 

Managing Director:  Mr. Bharat Gohel

 

 

SUMMARY

 

Incorporated on:             5th November, 1991.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Annual Turnover:            HK$20~25 million.

 

Employees:                   5.  (Including associates)

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Flat F, 19/F., Ho Lee Commercial Building, 38-44 D’Aguilar Street, Central, Hong Kong.

 

Associated Companies:-  (Same address)

Capital World Corporation Ltd., Hong Kong.

Sonar (HK) Ltd., Hong Kong.

Sonar Trading Co., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

15246869

 

 

COMPANY FILE NUMBER

 

0331717

 

 

MANAGEMENT

 

Managing Director:  Mr. Bharat Gohel

 

 

CAPITAL

 

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

 

Issued Share Capital:     HK$10.00

 

 

SHAREHOLDERS

(As per registry dated 05-11-2011)

 

Name

 

No. of shares

Bharat GOHEL

 

9

Gohel Indulal Premanand

 

1

 

 

––

 

Total:

10

==

 

DIRECTORS

(As per registry dated 05-11-2011)

 

Name

(Nationality)

 

Address

Daphne Bontein DA ROSA GOHEL

Apartment 2C, Glamour Court, 39 Consort Rise, Pokfulam, Hong Kong.

 

Bharat GOHEL

Apartment 2C, Glamour Court, 39 Consort Rise, Pokfulam, Hong Kong.

 

 

SECRETARY

(As per registry dated 05-11-2011)

 

Bharat GOHEL

 

 

HISTORY

 

The subject was incorporated on 5th November, 1991 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Flat B, 18/F., Ho Lee Commercial Building, 38-44 D’Aguilar Street, Central, Hong Kong, moved to Flat F, 19/F. of the same building in June 2006.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Garments, piecegoods, buttons, buckles, zippers, fashion accessories, etc.

 

Employees:                   5.  (Including associates)

 

Commodities Imported:   China and other Asian countries.

 

Markets:                       India, other Asian countries, Middle East, Europe, North America, etc.

 

Annual Turnover:            HK$20~25 million.

 

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

 

Terms/Buying:          As per contracted.

 

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 & Loss:                Making a small profit every year.

 

Condition:                      Keeping in a normal condition.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      So far so good.

 

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, Matsumoto Industrial Ltd. is jointly owned by Mr. Bharat Gohel, holding 9 shares; and Mr. Gohel Indulal Premanand, holding 1 share.  Bharat Gohel is an Indian who has been in Hong Kong for a very long time.  He has got the right to reside in Hong Kong permanently.

The subject is trading in the following commodities:-

Product/Service

Produce/Service Remarks

Piecegoods – Vegetable Fibre

Denim – Cotton, Woven

 

Shirts (Men’s, Women’s and Children’s)

 

Haberdashery

Zipper

Button – Plastic

Button – Metal

Buckle – Plastic

Buckle – Metal

Padding and Pad

Lining and Inter-Lining

 

Fashion Accessories

Ribbon (Cut-Edge)

Lace and Trimming

 

Machinery – Textile and Garment

Sewing Machines and Parts – Household

 

Sewing machines from Japan, China (Importer and Exporter)

 

Most of the commodities are imported from China and Japan.  Prime markets are Asian countries, North America, Europe, the Middle East, etc.

The subject has got an affiliated company located at the same operating address known as Sonar (HK) Ltd. [Sonar].  Operated by Mrs. Ravi Sujanani, Sonar is also an Indian firm engaged in the same lines of business as the subject, more or less.

Sonar exports a large range of woven and knit fabrics from China that are suitable for garment factory mfg for Kids Garments.  At present Sonar is supplying to factory working with Disney.  The range of fabric include all types of cotton, cotton blended and polyester fabrics such as poplin, corduroy, jersey, fleece, pique, etc.  Sonar also supplies accessories for the ready made garment industry such as zippers, buttons (plastic and metal), rhinestones appliqué, Velcro tapes, ribbons, lace, thread, etc.

Besides trading in garment accessories, Sonar also trades in other commodities such as:-

·         Disposable medical products such as disposable and safety syringes, infusion sets;

·         Wing needle, blood bag, urine bags and other related products.

Sonar has been in direct contact with factories that has got ISO and CE certifications.  It is currently supplying to companies in Indonesia for such products.

The annual turnover of the subject and its associate ranges from HK$20 to 25 million.  Business is steady.

As the history of the subject is over twenty years and two months in Hong Kong, consider it good for normal business engagements.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.87

UK Pound

1

Rs.86.46

Euro

1

Rs.69.48

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

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.