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Report Date : |
26.11.2012 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL TEXTILE PROCUREMENT SERVICES LTD. |
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Formerly Known As : |
Phoenix Star International Ltd |
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Registered Office : |
5/F., Block B, Eldex Industrial Building, 21 Ma Tau Wai Road, Hung
Hom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.05.1998 |
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Com. Reg. No.: |
22181610 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Textile Product and Garment Trader of All kinds of garments and
textile products, etc. |
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No. of Employees : |
12 employees |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Hong Kong - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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Source : CIA |
INTERNATIONAL TEXTILE PROCUREMENT SERVICES LTD.
5/F., Block B, Eldex Industrial Building, 21 Ma Tau Wai Road, Hung Hom,
Kowloon, Hong Kong.
PHONE: 2356 4140
FAX: 2333 9310
E-MAIL: shirley.yip@pfhongkong.com
Managing Director: Ms. Au Pui Mei
Incorporated on: 4th May, 1998.
Organization: Private Limited Company.
Capital: Nominal: US$10,000.00
Issued: US$10,000.00
Business Category: Textile
Product and Garment Trader.
Employees: 12.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
5/F., Block B, Eldex Industrial Building, 21 Ma Tau Wai Road,
Hung Hom, Kowloon, Hong Kong.
Holding Company:-
Polyconcept Hong Kong Ltd., Hong Kong.
Associated
Companies:-
ADM Promotions BV, Netherlands.
ADM Promotions Far East Ltd., Hong Kong.
ADM Promotions SA de CV, Mexico.
ADM Promotions USA LLC, USA.
ADM Spain SL, Spain.
Bullet Line LLC, USA.
Flame 2000 S.R.L., Italy.
Greenland Watch Ltd., Hong Kong.
International Textile Procurement Services Bangladesh Ltd.,
Bangladesh.
Intermed Asia Ltd., Hong Kong.
Leedsworld Inc, USA.
PF Concept Clipper AS, Norway.
PF Concept SA, France.
PF Concept Scandinavia AB, Sweden
PF Concept Spain SA, Spain.
PF Concept UK Ltd., UK.
Poly Concept Holding SA, France.
Poly concept trading (Shanghai) Co. Ltd., China.
Polyconcept Holding BV, Netherlands.
Polyflame Europe SA, France.
Timeplanner Calendars Inc., USA.
Trimark Sportswear Canada Inc., Canada.
22181610
0643764
Managing Director: Ms. Au Pui Mei
Representative: Ms. Shirley Yip
Nominal Share Capital: US$10,000.00 (Divided into 5,100 Ordinary A
shares and 4,900 Ordinary B shares of US$1 each)
Issued Share Capital: US$10,000.00
(As per registry dated 04-05-2012)
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Name |
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No. of shares |
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Ordinary A |
Ordinary B |
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Polyconcept Hong Kong Ltd., Hong Kong. |
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5,100 |
2,400 |
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EDO Corporation. Omar Hodge Building Wickhams CAY1, P.O. Box 362, Road Town, Tortola,
British Virgin Islands. |
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- |
2,500 |
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–––––– |
––––– |
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Total: |
5,100 ===== |
4,900 ==== |
(As per registry dated 30-06-2012)
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Name (Nationality) |
Address |
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LUO Meng |
Room 402, No. 8, Lane 900 Mao Tai Road, Changning District, Shanghai
200336, China. |
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AU Pui Mei |
Flat G, 4/F., Block 2, Kornhill Garden, 1112 King’s Road, Quarry Bay,
Hong Kong. |
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Nicolas VILLEMONTEIX |
A1808 Hui Jin Plaza, 988 Zhao Jia Bang Road, Shanghai 200030, China. |
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Amara AMATYAKUL |
537 Friendship Village, On-Nuj 46, Sukhumvit 77 Nongbon, Praves,
Bangkok 10250, Thailand. |
(As per registry dated 04-05-2012)
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Name |
Address |
Co. No. |
|
Tricor Strath Ltd. |
Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong. |
0004873 |
The subject was incorporated on 4th May, 1998 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Phoenix Star
International Ltd., name changed to the present style on 17th April, 2000.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Textile
Product and Garment Trader.
Lines: All
kinds of garments and textile products, etc.
Employees: 12.
Commodities Imported: China,
Thailand, other Asian countries, etc.
Markets: Asian
countries, Europe, North America, etc.
Terms/Sales: L/C
or as per contracted.
Terms/Buying: L/C, D/P, etc.
Nominal Share Capital: US$10,000.00 (Divided into 5,100 Ordinary A
shares and 4,900 Ordinary B shares of US$1 each)
Issued Share Capital: US$10,000.00
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: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
International Textile Procurement Services Ltd. is a subsidiary company
of Polyconcept Hong Kong Ltd. [Polyconcept] which is a Hong Kong-based firm
located at the same operating address.
Polyconcept is a multinational company headquartered in France and the
Netherlands. The Group is specialised in
creation, sourcing and distribution of lifestyle gifts, home decoration
products, garments, etc.
The subject is trading in the same commodities as Polyconcept. It is also engaged in sourcing, developing
and manufacturing apparels and other related products for the entire
group. The Group is trading in the
following commodities:-
Ashtrays, Backpacks, Barbecue Tools, Bottle Openers, Calculators, Casual
Wear, Ceramic/Porcelain, Computer Carrying Bags, Desk Sets & Accessories,
Digital Clocks, Electronic Gifts & Premium, Flash Memory Cards, Glassware
of Catering, Hats & Caps, Keychains, Lighters, Magnets, Outdoor &
Sporting Items, Promotional Gifts, Articles, Sewing Kits, Shopping Bags, Sports
Time Clocks, Stopwatches, Electronic (with Alarm), Sweater, Travel Goods,
Umbrellas, Vacuum Flasks, Watches, etc.
Some of the commodities bear the brand names of CASE LOGIC, MARKSMAN,
ORIENT TAPRESS, etc.
Products are exported to the following countries:-
Belgium, France, Germany, Iran, Israel, Italy, Japan, the Netherlands,
Poland, Qatar, Russia, Saudi Arabia, Spain, Sweden, the United Kingdom, the
United States, etc.
The business of apparels accounts for about 20% of the Group’s revenues.
Polyconcept is one of the world’s largest promotional product suppliers
with sales of over EUR 650 million.
Polyconcept employs approximately 3,000 staff in 35 offices on four
continents selling to over 100 countries around the globe. Its main offices are in the United States,
the Netherlands, France and China apart from Hong Kong.
The subject is fully supported by Polyconcept.
As the history of the subject is over fourteen years in Hong Kong, on
the whole, consider it 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.55.34 |
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UK Pound |
1 |
Rs.88.30 |
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Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.