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Report Date : |
09.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MATSUMOTO INDUSTRIAL LTD |
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Registered Office : |
Flat F, 19/F., Ho Lee Commercial Building, 38-44 D’Aguilar Street,
Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.11.1991 |
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|
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Com. Reg. No.: |
15246869 |
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Legal Form : |
Private Limited Company |
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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 |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
MATSUMOTO INDUSTRIAL LTD.
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
Managing
Director: Mr. Bharat Gohel
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.
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.
15246869
0331717
Managing
Director: Mr. Bharat Gohel
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10.00
(As
per registry dated 05-11-2012)
|
Name |
|
No.
of shares |
|
Bharat
GOHEL |
|
9 |
|
Gohel Indulal Premanand |
|
1 |
|
|
|
–– |
|
|
Total: |
10 == |
(As
per registry dated 05-11-2012)
|
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. |
Bharat GOHEL (As per registry dated 05-11-2012)
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.
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.
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: Operation is conducted on a
profitable basis.
Condition: Business remains normal.
Facilities: Is making use of general banking
facilities.
Payment: So far good in manner.
Commercial
Morality: Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
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 owned and operated by the Gohel family. It is trading in the following commodities:-
|
Product/Service |
Produce/Service
Remarks |
|
Piecegoods – Vegetable Fibre Denim – Cotton,
Woven Lace & Trimming |
|
|
Shirts (Men’s, Women’s and Children’s) Other kinds of garments |
|
|
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, Japan, other Asian countries,
etc. 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.
The
Gohel family is rather wealthy in Hong Kong.
On
the whole, as the history of the subject is over twenty-one years and three
months in Hong Kong, consider it good for normal business engagements.
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.40 |
|
UK Pound |
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.