|
Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOODRICH GLOBAL LTD. |
|
|
|
|
Registered Office : |
2/F., Beverly House, 93-107 Lockhart Road, Wanchai |
|
|
|
|
Country : |
Hong Kong |
|
|
|
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Date of Incorporation : |
10.09.1997 |
|
|
|
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Com. Reg. No.: |
21268112 |
|
|
|
|
Legal Form : |
Private Limited Company |
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|
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Line of Business : |
Importer, Wholesaler and Distributor of All kinds of wallcoverings,
carpets, flooring and fabrics. |
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|
|
|
No. of Employees : |
12 |
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 |
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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
|
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 |
GOODRICH GLOBAL
LTD.
2/F., Beverly House, 93-107 Lockhart Road, Wanchai, Hong Kong.
PHONE: 2668 5757
FAX: 2778 5757
E-MAIL: info_hongkong@goodrichglobal.com
Managing Director: Mr. Neo Poh
Hock, Alfred
Incorporated on: 10th September, 1997.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Wallpaper
and Carpet Trader.
Employees: 12.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
GOODRICH GLOBAL
LTD.
Registered Head
Office:-
2/F., Beverly House, 93-107 Lockhart Road, Wanchai, Hong Kong.
Showroom:-
25/F., Tiffan Tower, 199 Wanchai Road, Wanchai, Hong Kong.
[Tel: 2136 0577; Fax: 2136 0572]
Warehouse:-
Unison Industrial Building, 7 Sun Yip Street, Chai Wan Industrial City,
Chai Wan, Hong Kong.
[Tel: 2505 0272]
China Offices:- [Under the name of Goodrich Global Co. Ltd.]
Beijing
Office
Room 2706-2707, Dong Fang Rui Jing Tower 2, 16
Jianguomenwai Dajie, Chaoyang District, Beijing 100022, China.
Tel: (86-10) 6569 6891, 6569 6892
Fax: (86-10) 6569 6893
E-mail: info_beijing@goodrichglobal.com
Beijing Goodrich
Gallery
No. 3-18 Hua Teng Guo Ji Storefront
Dajiaoting Zhongie, Chaoyang District, Beijing 100021, China.
Tel: (86-10) 8777 8288 / 8771 8288
Fax: (86-10)
8795 1375
E-mail: gallery_beijing@goodrichglobal.com
Chongqing
Office
Room 2809, Block A, Paradise by the River, 19
Changbin Road, Yuzhong District, Chongqing 400011, China.
Tel: (86-23) 6303 3120
Fax: (86-23) 6303 3153
E-mail: info_chongqing@goodrichglobal.com
Guangzhou
Office
Room
202A, 2/F., West Tower, Guangzhou Construction Project Bidding Centre, 333 Tian
Run Street, Tianhe, Guangzhou 510635, Guangdong Province, China.
Tel: (86-20) 3824 0272
Fax: (86-20) 3821 6394
E-mail: info_guangzhou@goodrichglobal.com
Shanghai
Office
19/F., 899 Lingling Road, Cross Region Plaza, Xuhui District, Shanghai
200030, China.
Tel: (86-21) 6486 8877
Fax: (86-21) 6469 1116
E-mail: info_shanghai@goodrichglobal.com
Shenzhen
Office
Room
2802, Tower C, Perfect Garden, Shennan Middle Road, Futian, Shenzhen 518031,
China.
Tel: (86-755) 8287 9666
Fax: (86-755) 8287 9333
E-mail: info_shenzhen@goodrichglobal.com
Chengdu Office
Room
1604 & 1704, Block 2, Guo Jia Grace Garden, 5 Jinli Road East, Qingyang
Distict, Chengdu 610041, China.
Tel: (86-028) 6131 2018
Fax: (86-028) 8698 5002
Holding Company:-
Goodrich Global Holdings Pte. Ltd.
Goodrich Building, 8 Changi South Lane, #05-01, Singapore 486113.
[Tel: 65-6787 8787
Fax: 65-6788 7733
Email: info_singapore@goodrichglobal.com]
Associated
Companies:-
Goodrich Global (EM) Sdn. Bhd., Malaysia.
Goodrich Global (JB) Sdn. Bhd., Malaysia.
Goodrich Global (KL) Sdn. Bhd., Malaysia.
Goodrich Global Co. Ltd., China.
Goodrich Global Co. Ltd., Thailand.
Goodrich Global India Pvt. Ltd., India.
Goodrich Global Pte. Ltd., Singapore.
Goodrich Global Trading LLC, UAE.
P.T. Griya Interindo Abadi, Indonesia.
P.T. Mitra Goodrich Indonesia, Indonesia.
21268112
0623484
Deputy Chairman: Mr. Gay Soon
Watt, Thomas
Managing Director: Mr. Neo Poh
Hock, Alfred
General Manager: Mr. Brian Mok
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
(As per registry dated
10-09-2012)
|
Name |
|
No. of shares |
|
Goodrich Global Holdings Pte. Ltd. Goodrich Building, 8 Changi South Lane, #05-01, Singapore 486113. |
|
1,000,000 ======= |
(As per registry dated 10-09-2012)
|
Name (Nationality) |
Address |
|
GAY Soon Watt (Singaporean) |
8 Siglap Plain, Singapore 455997. |
|
NEO Poh Hock (Singaporean) |
Flat D, 15/F., Block 12, Serene Court, 12 Serene Avenue, Phase 9,
Discovery Bay, Lantau Island, Hong Kong. |
(As per registry dated 10-09-2012)
|
Name |
Address |
Co. No. |
|
TMF Secretarial Services Ltd. |
36/F., Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong
Kong. |
0776802 |
The subject was incorporated on 10th September, 1997 as a private
limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Arctic Circle
Ltd., name changed to Goodrich Wallcoverings & Carpets Ltd. on 24th
December, 1997, and further to the present style on 25th February, 2004.
Formerly the subject’s office was located at 16/F., 128 Lockhart Road,
Wanchai, Hong Kong, moved to 2/F., De Fenwick, 8-12 Fenwick Street & 42-50
Lockhart Road, Wanchai, Hong Kong with effect from 1st March, 2007. It also set up a showroom at this address in
the same month and year. In May 2009,
the subject’s office was moved to 1/F., Tak Lee Commercial Building, 113-117
Wan Chai Road, Wanchai, Hong Kong, and further to the present address in July
2011, while its showroom remains located at 2/F., De Fenwick.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer, Wholesaler and
Distributor.
Lines: All kinds of wallcoverings, carpets, flooring
and fabrics.
Employees: 12.
Commodities Imported: Imported
from Europe, Southeast Asia, etc.
Markets: Hong Kong, China, Southeast Asia,
etc.
Terms/Sales: As per contracted.
Terms/Buying: On various terms.
Nominal Share Capital: HK$1,000,000.00
(Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Indebtedness: HK$3,650,000 (Total amount outstanding on all
mortgages and charges as per last Annual Return dated 10-09-2012)
Mortgage or Charge: (See attachment)
Profit or Loss: Business is profitable.
Condition: Keeping in an active condition.
Facilities: Making active use of general banking
facilities.
Payment: Met
trade commitments on time.
Commercial Morality: Good.
Bankers:-
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
DBS Bank (Hong Kong) Ltd.,
Hong Kong.
Standing: Good.
Formerly known as Goodrich Wallcoverings & Carpets Ltd., Goodrich
Global Ltd. is a wholly-owned subsidiary of Goodrich Global Holdings Pte. Ltd.
[Goodrich] which is a Singapore-incorporated and based firm.
The subject moved to the present address in July 2011.
Goodrich is distributing the following products:-
·
Wallcoverings;
·
Carpets, Carpet Tiles, Rugs, Broadloom Carpets;
·
Laminate Flooring; &
·
Coordinated Fabrics for furnishing.
The subject is engaged in the same lines of business as Goodrich. Prime markets are China, Hong Kong, Singapore
and Indonesia. The subject has set up
China offices in Beijing, Chongqing, Guangzhou, Shanghai, Shenzhen SEZ, Chengdu
and Hangzhou.
The subject is also the Hong Kong agent for Silk Dynasty Inc. which is
specialized in manufacturing of hand crafted wallcoverings. Silk Dynasty Inc. is a US-based firm with facilities
headquartered in Mountain View, California, the United States.
Goodrich started business in 1983 as a supplier of interior
wallcoverings. Very soon it became a
leading interior wallcovering company in Singapore. In 1985, it began to expand its business to
other Asian countries.
In late 2001, Goodrich began providing their customers, dealers and
sales representatives with a new service so that they can access to their
application system using an SMS (short message service) technology.
Goodrich earned its recognition when it was selected as one of the best
50 privately held companies in Singapore in 1998, 2001 and 2002. “Enterprise 50 Awards” is an annual event
organised by Accenture and The Business Times with the support of the Economic
Development Board of Singapore.
Goodrich is also the first company in Singapore which has got ISO 9002
certification. It got the certification
in July 1996.
In the “Singapore SME 500 Ranking” (by DP Information Network and Ernst
& Young), Goodrich ranked the 218th for Year 2000/01, the 182nd for
2001/02, the 168th for 2002/03 and the 172nd for 2003/04. It also has got SQC (Singapore Quality
Control) Award.
In the years ahead, the Group will emphasize on regional expansion and
product integration.
In August 2003, Goodrich’s Chairman Mr. Chan Chong Beng was awarded the
“Top 11 Entrepreneur of the Year 2003”.
This is a ‘Rotary-ASME Award’.
In 2004, Goodrich was selected as one of the distinctive top six brand
winners at the “Singapore Promising Brand Award” for its significant brand
name.
In October 2005, Goodrich still won the “Singapore Promising Brand
Award”. In the same year, Goodrich got
the Singapore Distinctive Brand Award for the second year. In 2005, it ranked the 40th in the Enterprise
50 Awards in Singapore.
Goodrich set up the Guangzhou office in the early 2000’s. In 2006, Goodrich set up Semarang Gallery of
Indonesia and set up the Shanghai and Chongqing galleries.
Goodrich has participated exhibitions and fairs held in China in order
to penetrate the market further. It has
been taking part in the furniture exhibition held in Shanghai New Expo Centre,
China since 2005.
Currently, Goodrich operates 18 regional offices in seven countries:
Singapore, China, Hong Kong, Malaysia, Thailand, Indonesia, and the United Arab
Emirates [UAE]. The Dubai office in the
UAE started operation in 2007. It is
serving the clients in the Middle East.
In 2007, Goodrich re‑launched gallery in Singapore; moved the
gallery in Bangkok to a larger premises in Thailand; established a gallery in
Hong Kong; established a gallery and an office in Kota Kinabalu which is in
East Malaysia.
Besides in Hong Kong, Singapore, the UAE and China, Goodrich’s offices,
distributors, agents are in Malaysia (Johor Bahru, Kota Kinabalu, Kuching),
Indonesia (Jakarta, Malang, Semarang, Surabays), and Thailand (Bangkok). Businesses of the offices have been active.
In 2008, Goodrich set up a representative office in India and a new
gallery in Senopati, Jakarta, Indonesia.
The headquarters of the Goodrich Group are in Singapore which is located
at Goodrich Building, 8 Changi South Lane, #05-01 Singapore 486113.
The annual consolidate sales turnover of the Goodrich Group is very
significant, ranges from S$50 to 55 million.
Business is profitable. Most of
its revenues come from Singapore, Indonesia and Malaysia.
The Chairman of Goodrich is Mr. Chan Chong Beng, Deputy Chairman is Mr.
Thomas Gay, Chief Executive Officer is Mr. Lo Yong Poo, Group Executive
Director is Mr. Cheah Sin Hean, Managing Director is Ms. Judy Goh.
Mr. Alfred Neo Poh Hock is the Managing Director of the subject and all
the China offices.
In Hong Kong, the subject’s business is handled by Mr. Brian Mok who is
the General Manager.
Having a history of over fifteen years and six months, the subject is
fully supported by Goodrich.
On the whole, in view of the subject’s parentage and background,
consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
02-07-2009 |
Instrument: Security Over Deposits with the Bank
(Fixed Depsoits) Limited Company – Under Seal Property: A deposit with chargee in the amount of HK$150,000.00 under Deposit
A/C No. 500-127253 (0002) Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
Amount secured – (i) all monies in any currency owing by the Company
to the chargee at any time, actually or contingently, in any capacity, alone
or jointly with any other person; (ii) interest on such monies, to the date
on which the chargee receives payment, at the rates payable by the Company or
which would have been payable but for any circumstance which restricts
payment and (iii) all expenses of the chargee in perfecting or enforcing the
charge and recovering any indebtedness of the Depositor |
|
31-08-2010 |
Instrument: Security Over Deposits with the Bank
(Limited Company – Under Seal) Property: Initially HK$3,500,000.00 or equivalent and all monies whether now or
hereafter standing to the credit of the Company’s deposit with the Bank under
deposit number 500-127253-838 and whatever currency it may subsequently be
denominated in, any renewal of such deposit and the interest thereon together
with any further moneys in any deposit account with the Bank at any of its
offices Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
To secure all monies in respect of banking facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.