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Report Date : |
02.03.2013 |
IDENTIFICATION DETAILS
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Name : |
HI FASHION CO LTD |
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Registered Office : |
Phum Bunlar Saet Sangkat Khmuonh, Khan Russey Keo, Phnom Penh 12103 |
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Country : |
Cambodia |
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Date of Incorporation : |
07.09.2009 |
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Legal Form : |
Company Limited |
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Line of Business : |
Manufacturer of Garments & Accessories |
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No. of Employees : |
546 |
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 : |
-- |
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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Cambodia |
C1 |
C1 |
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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 |
CAMBODIA - ECONOMIC OVERVIEW
Since 2004, garments, construction, agriculture, and tourism have driven Cambodia's growth. GDP climbed more than 6% per year between 2010 and 2012. The garment industry currently employs more than 335,000 people and accounts for more than 75% of Cambodia's total exports. In 2005, exploitable oil deposits were found beneath Cambodia's territorial waters, representing a potential revenue stream for the government, if commercial extraction becomes feasible. Mining also is attracting some investor interest and the government has touted opportunities for mining bauxite, gold, iron and gems. The tourism industry has continued to grow rapidly with foreign arrivals exceeding 2 million per year since 2007. Cambodia, nevertheless, remains one of the poorest countries in Asia and long-term economic development remains a daunting challenge, inhibited by endemic corruption, limited educational opportunities, high income inequality, and poor job prospects. Approximately 4 million people live on less than $1.25 per day and 37% of Cambodian children under the age of 5 suffer from chronic malnutrition. More than 50% of the population is less than 25 years old. The population lacks education and productive skills, particularly in the impoverished countryside, which also lacks basic infrastructure. The Cambodian government is working with bilateral and multilateral donors, including the World Bank and IMF, to address the country's many pressing needs; more than 50% of the government budget comes from donor assistance. The major economic challenge for Cambodia over the next decade will be fashioning an economic environment in which the private sector can create enough jobs to handle Cambodia's demographic imbalance.
Source : CIA
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Company Details |
|
Organization Name |
: |
HI FASHION CO LTD |
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Address |
: |
Phum Bunlar Saet Sangkat Khmuonh, Khan Russey Keo, Phnom Penh 12103 |
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Country |
: |
Cambodia |
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Phone (S) |
: |
[+855] 23-369191 |
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Facsimile |
: |
[+855] 23-369191 |
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Email |
: |
hengvrak001@yahoo.com |
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Primary Business Activity |
: |
Manufacturer |
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Key Industry |
: |
Garments & Accessories |
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Key Facts |
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Registered Legal Address |
: |
Phum Bunlar Saet Sangkat Khmuonh, Khan Russey Keo, Phnom Penh 12103 |
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Operational Address |
: |
Phum Bunlar Saet Sangkat Khmuonh, Khan Russey Keo, Phnom Penh 12103 |
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Issuing Authority |
: |
Ministry of Commerce - Commercial Registry - National |
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License Number |
: |
1432/09E |
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License Status |
: |
License exists - Normal. |
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Legal Form - Category |
: |
Private Company with Limited Liability |
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Legal Form |
: |
Company Limited |
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Legal Form - Abbreviation |
: |
CO LTD |
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Operational Status of Business |
: |
Normal |
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Date of Registration |
: |
7 Sep, 2009 |
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Employees |
: |
546 |
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Capital |
: |
US$ 5,000 |
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Report Details |
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COMPANY DIRECTORS |
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NEGA-SCAN - ADVERSE DATA MONITORING |
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CAPITAL (Currency: KHR - Cambodia Riel) |
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SHAREHOLDERS |
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Supplementary Business |
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In addition to the core business, HI FASHION CO LTD also is engaged in
the following areas of business:
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DOMESTIC SALES & PURCHASES |
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PAYMENT TERMS |
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Selling |
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Purchasing |
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N/a
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FINANCIAL STATEMENT - DETAILED |
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Based on the corporate laws of Cambodia, legal entities which are
Private Company with Limited Liability are not required to make public
disclosure of their annual financials. Therefore no financials are available
for this entity. |
N/a
Primary Products
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Products / Materials / Services Description |
Activity |
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Blouses |
Manufacturing, Exporting |
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Garments
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Manufacturing, Exporting |
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Jackets |
Manufacturing, Exporting |
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Knitwear |
Manufacturing, Exporting |
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Pants |
Manufacturing, Exporting |
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SIC PRODUCT CLASSIFICATION & ACTIVITY |
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HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY |
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DETAILED PRODUCT CLASSIFICATION & ACTIVITY |
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CORE BUSINESS DESCRIPTION |
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Core Business |
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The primary business focus of HI FASHION CO LTD is Manufacturing -
Finished products.
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REPUTATION |
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Reference checking for the purpose of establishing the HI FASHION CO LTD's
reputation within the respective industry failed to reveal any adverse
information. |
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INTERNATIONAL TRADE - Activity & Markets |
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OFFICE & FACILITIES |
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N/a
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.48 |
|
|
1 |
Rs.82.72 |
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Euro |
1 |
Rs.71.27 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.