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Report Date : |
28.10.2013 |
IDENTIFICATION DETAILS
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Name : |
LA COMMERCIALE LTD. |
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Registered Office : |
Room 2503, 25/F., Bank of |
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Country : |
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Date of Incorporation : |
01.11.2002 |
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Com. Reg. No.: |
33106908 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Grey fabrics, yarns. |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRAs 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 March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
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 levies
excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong Kong by the end of 2012,
an increase of 59% from the previous 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 34.9
million in 2012, 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 2012 mainland Chinese companies constituted about
46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for
about 57.4% 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, and less than 2% in 2012.
Credit expansion and tight housing supply conditions caused Hong Kong property
prices to rise rapidly and inflation to rise 4.1% in 2012. 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 |
LA COMMERCIALE
LTD.
Room 2503, 25/F., Bank of America Tower, 12 Harcourt Road, Central,
Hong Kong.
(Formerly located at:
Room 2201, 22/F., Chekiang First Bank Centre, 1 Duddell Street, Central,
Hong Kong.)
PHONE: 852-2526 8551
FAX: 852-2526 8559
E-MAIL: ndali@lacom.ch
Chairman: Mr. Niklaus Dali
Incorporated on: 1st
November, 2002.
Organization: Private
Limited Company.
Capital: Nominal: US$180,000.00
Issued: US$180,000.00
Business Category: Fabric and Yarn Trader.
Employees:
6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
LA COMMERCIALE
LTD.
Registered
Office:-
Room 2503, 25/F., Bank of America Tower, 12 Harcourt Road, Central,
Hong Kong.
Holding Company:-
La Commerciale S.A.
Rue de Richermont 25, Case Postale 2593, CH-1211 Geneve 2, Switzerland.
Affiliated
Company:-
Commence Secretaries Ltd., Hong Kong.
(Same address)
33106908
0820132
Chairman: Mr. Niklaus Dali
Contact Person: Ms. Oliva
Rempillo
Nominal Share Capital: US$180,000.00 (Divided into 180,000 shares of
US$1.00 each)
Issued Share Capital: US$180,000.00
(As per registry dated 01-11-2012)
|
Name |
|
No. of shares |
|
Niklaus DALI |
|
100,980 |
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La Commerciale S.A. Rue de Richermont 25, Case Postale 2593, CH-1211 Geneve 2,
Switzerland. |
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79,020 |
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Total: |
180,000 ====== |
(As per registry dated 01-11-2012)
|
Name (Nationality) |
Address |
|
Niklaus DALI |
Flat D, 32/F., Block 2, The Grand Panorama, 10 Robinson Road, Hong
Kong. |
|
Erik David EPHRATI |
1 Clos Belmont, 1208 Geneva, Switzerland. |
(As per registry dated 01-11-2012)
|
Name |
Address |
Co. No. |
|
Commence Secretaries Ltd. |
Room 2503, 25/F., Bank of America Tower, 12 Harcourt Road,
Central, Hong Kong. |
0084095 |
The subject was incorporated on 1st November, 2002 as a private limited
liability company under the Hong Kong Companies Ordinance.
Initially the subject was located at 16/F., Cheung Kong Centre, 2
Queens Road Central, Hong Kong, moved to Room 2201, 22/F., Chekiang First Bank
Centre, 1 Duddell Street, Central, Hong Kong in early 2004 and further moved to
the present address in December 2005.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer and Exporter.
Lines: Grey
fabrics, yarns.
Employees: 6.
Commodities Imported: Imported from China, India, South Korea, Taiwan, etc.
Markets: World-wide
countries.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: As
per contracted.
Nominal Share Capital: US$180,000.00 (Divided into 180,000 shares of
US$1.00 each)
Issued Share Capital: US$180,000.00
Alternation of Capital:-
|
01-11-2002 |
paid up |
US$ 26.00 |
|
18-12-2002 |
paid up |
US$ 149,974.00 |
|
17-12-2003 |
paid up |
US$ 30,000.00 |
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|
|
|
|
Total: |
paid up |
US$ 180,000.00 ============ |
Increase of Nominal Capital:-
|
From |
US$128,205.00 |
to |
US$150,000.00 |
on |
18-12-2002 |
|
From |
US$150,000.00 |
to |
US$180,000.00 |
on |
17-12-2003 |
Profit or Loss: Traded at a small profitable angle.
Condition: Keeping
in a rather active state.
Facilities: Making
active use of general banking facilities.
Payment:
Met trade commitments
on time.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
La Commerciale Ltd. is a private limited company owned by La Commerciale
S.A. [La Commerciale] which is a Switzerland-based firm.
Having issued 180,000 ordinary shares of HK$1.00 each, La Commerciale
Ltd. is jointly owned by La Commerciale, holding 43.9% interests, and Niklaus
DALI, holding 56.1%.
The subject shares the same office with Commence Secretaries Ltd., a
Hong Kong-registered secretarial firm but having different phone
numbers. The subject and the secretarial
firm have different staff members.
Niklaus Dali is a Switzerland passport holder. Now, he is also a Hong Kong ID Card holder
and has got the right to reside in Hong Kong permanently. Currently he is residing in Hong Kong and
acting as the Managing Director of the subject.
The subject, acting as a buying agent, is engaged in the same lines of
business and handles the same commodities as La Commerciale.
The subject is trading in the following commodities: Calico - Cotton,
Woven; Chambray - Cotton Woven; Cambric - Cotton, Woven; Fabric - Cotton ,
Knitted; Calico - Cotton Blended, Woven; Chambray - Cotton Blended, Woven;
Cambric - Cotton Blended, Woven; Fabric - Blended, Knitted, Yarn, etc.
According to the subject, its products are exported to Eastern Europe,
Scandinavia, Southeast Asia, Western Europe, etc.
La Commerciale is a world-wide trading company for the supply of grey
fabrics and yarns to the textile industry.
It helps its clients source grey fabrics, yarns and other textile
products. Its clients have to open
letter of credit directly to the suppliers.
The subject is the Hong Kong office of La Commerciale. Besides the subject, La Commerciale is
present world-wide with offices in Geneva, Jakarta, Seoul and Shanghai, and has
got a warehouse in Antwerp.
La Commerciale handles fabrics and yarns. Most of the fabrics are woven and knitted
greige and bleached. The fibres of the
fabrics are of the followings: cotton, viscose, polyester/cotton,
polyester/viscose, viscose/cotton, rayon/flax, cotton/linen, polyester,
etc. Widths from 38 to 126. Origins are Asian countries, the Middle East,
Africa, Latin America and Eastern Europe.
La Commerciale handles yarns which include the following type: ring
spun, open end, POY and PTY, covered, core spun, etc. Raw materials of the yarns are cotton (carded
and combed), polyester/cotton, polyester (spun and filament),
polyester/viscose, acrylic/cotton, acrylic, and spandex. Origins are also Asian countries, the Middle
East, Africa, Latin America and Eastern Europe.
According to La Commerciale, China is a large fabric supplier while
India is a large yarn supplier.
The business of the subject is active.
Regular suppliers and foreign customers have been maintained.
The contact person Ms. Oliva Rempillo is also the secretary of the
subject.
The history of the subject in Hong Kong is about eleven years.
On the whole, in view of the subjects background, parentage and
history, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.63 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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
SCs 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.