MIRA
INFORM REPORT
|
Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
KAKADO TRADING COMPANY LIMITED |
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Registered Office : |
Unit C, 23/F, |
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Country : |
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Date of Incorporation : |
11.06.1996 |
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Com. Reg. No.: |
552674 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of children’s apparel, children's accessories. |
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No of Employees : |
Not Available |
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 |
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Litigation : |
Exist |
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 has no tariffs on imported goods, and it levies excise duties on
only four commodities, whether imported or produced locally: 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, its continued reliance on foreign
trade and investment leaves it vulnerable to renewed global financial market
volatility or a slowdown in the global economy. 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 12% of
total system deposits in Hong Kong by the end of 2013. 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 total
trade 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. Credit expansion and tight
housing supply conditions have caused Hong Kong property prices to rise
rapidly; consumer prices increased by more than 4% in 2013. 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. In 2013, Hong Kong and China signed
new agreements under the Closer Economic Partnership Agreement, adopted in 2003
to forge closer ties between Hong Kong and the mainland. The new measures,
effective from January 2014, cover services and trade facilitation, and will
improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Contact Points
|
Company Name: |
KAKADO TRADING
COMPANY LIMITED |
|
Supplied Name: |
KAKADO TRADING COMPANY LTD |
|
Trading Address: |
Unit C, 23/F, Egl Tower, 83 Hung To Road, Kwun Tong, Kowloon, Hong Kong |
|
Supplied Address: |
FLAT-C, 23/FLOOR, EGL TOWER, 83 HUNG TO ROAD, KWUN TONG, KOWLOON, HONG KONG |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit C, 23/F, Egl Tower, 83 Hung To Road, Kwun Tong, Kowloon, Hong Kong |
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Telephone Number: |
+852-2345-3886 |
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Fax Number: |
+852- 2950-9430 |
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Date of Registration: |
1996-6-11 |
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Registered Number: |
552674 |
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Business Registration No.: |
19960778 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD 1 (As of 2014.12, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
84587-- Articles Of Apparel, Men's Or Boys', N.E.S., Not Knitted Or Crocheted (No.) |
|
Principal Activities: |
Trading of children’s apparel, children's accessories. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-6-11 |
Notes: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.
History
Subject was
incorporated on 1996-6-11 with the registered number 552674 as Private Limited Liability
Company in Hong Kong.
Corporate Structure
Parent Company
|
Name: |
Kanz Financial Holding Gmbh |
|
Address: |
Wilhelm-Schickard -Strass 7 72124 Pliezhausen Germany |
Shareholders
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Kanz Financial Holding Gmbh |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder Information:
|
Name: |
Kanz Financial Holding Gmbh |
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Address: |
Wilhelm-Schickard -Strass 7 72124 Pliezhausen Germany |
Management Information
Core Management
Detailed Information of Directors:
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1 |
|
|
Name: |
Altintas Kerim |
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Address: |
Mesa B1 Block, Giris:5, Daire:1, No: 19, Etap Atakent, Halkaili, Kucukcekmece/ Istanbui Turkey, Turkey |
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Position: |
Director |
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ID Number: |
U01297884 |
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2 |
|
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Name: |
Ng Shuk Fong, Karen |
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Address: |
Flat C, 6/F, Block 9, Laguna City, Chakwoling Road, Kwun Tong, Kowloon, Hong Kong |
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Position: |
Director |
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ID Number: |
E858232(0) |
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3 |
|
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Name: |
Topone Nominees Limited |
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Address: |
Flat A, 3/F, Hing Lee Building, 12-14 Shanghai Street, Jordan, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
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Registered Number: |
573571 |
Operation Information
Offices
& Factories
|
|
Office |
|
Address: |
Unit C, 23/F, Egl Tower, 83 Hung To Road, Kwun Tong, Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
Office C On 23rd Floor Egl Tower No.83 Hung To Road Kowloon |
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Owners: |
Eco Metal (Hong Kong) Limited |
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Memorial Number: |
07101102830211 |
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Date of Instrument: |
2007-9-13 |
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Date of Registration: |
2007-10-11 |
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Consideration Value: |
HKD 42,500,000.00 (PT.) |
History
of Premises Owners’
|
1 |
|
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Memorial No.: |
07101102830224 |
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Date of Instrument: |
2007-9-13 |
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Date of Registration: |
2007-10-11 |
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Nature: |
Mortgage |
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In Favor of: |
Industrial And Commercial Bank Of China (Asia) Limited |
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Consideration: |
All Moneys (PT.) |
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2 |
|
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Memorial No.: |
07091802260179 |
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Date of Instrument: |
2007-9-11 |
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Date of Registration: |
2007-9-18 |
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Nature: |
Agreement For Sub-Sale And Purchase |
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In Favor of: |
Eco Metal (Hong Kong) Limited |
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Consideration: |
HKD 42,500,000.00 (PT.) |
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3 |
|
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Memorial No.: |
07091802030474 |
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Date of Instrument: |
2007-9-3 |
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Date of Registration: |
2007-9-18 |
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Nature: |
Deed Of Mutual Covenant And Management Agreement With Plans |
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In Favor of: |
Winsor Billion Managemnt Limited (Manager) |
Note: (PT.) means “part of”。
Production
Information
·
The subject is a trader
of children’s apparel, children's accessories without any production
activities.
Purchase
Information
·
It is introduced that
subject purchases its products both at home and abroad.
·
It is introduced that
subject imports some products from its related factories in Turkey, Bangladesh
and etc.
Sales Information
·
The subject is mainly
engaged in sales of children’s apparel, children's accessories
·
Subject is also operating
as a purchasing company for its group named “Kanz
Financial Holding Kids Fashion Group”.
·
Subject’s major products
include children’s apparels, strollers, baby car chairs, playpens.
·
Subject’s selling
territory is mainly in Europe.
·
Subject’s major customers
are distributors and members of its group.
·
Subject is selling the
products with the brand of its group named “Kanz”.
Settlements
Purchase
1. Domestic Purchase
|
Products |
Children’s apparel, children's accessories |
|
Payment Terms |
Cash, T/T and etc |
2. Import
|
Products |
Children’s apparel, children's accessories |
|
Payment Terms |
L/C, T/T and etc |
Sales
1. Domestic Markets
The subject didn’t has sales in domestic market.
2. Export
|
Product |
Children’s apparel, children's accessories |
|
Selling Terms |
L/C, T/T and etc |
Financial Information
The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff Ms. Chan rejected to disclose the financial information, from other sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Public
|
Date: |
2003-12-03 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
23776 |
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Claimant: |
Hung Cheong Plastic Ltd |
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Defendant: |
Kakado Trading Co Ltd |
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Reason: |
Good Sold & Delivered |
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2 |
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Date: |
2003-10-08 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
23776 |
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Claimant: |
Hung Cheong Plastic Ltd |
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Defendant: |
Kakado Trading Co Ltd |
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Reason: |
Good Sold & Delivered |
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3 |
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Date: |
2003-07-08 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
23776 |
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Claimant: |
Hung Cheong Plastic Ltd |
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Defendant: |
Kakado Trading Co Ltd |
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Reason: |
Good Sold & Delivered |
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4 |
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Date: |
2003-06-02 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
23776 |
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Claimant: |
Hung Cheong Plastic Ltd |
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Defendant: |
Kakado Trading Co Ltd |
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Reason: |
Good Sold & Delivered |
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5 |
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Date: |
2003-04-24 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
23776 |
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Claimant: |
Hung Cheong Plastic Ltd |
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Defendant: |
Kakado Trading Co Ltd |
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Reason: |
Good Sold & Delivered |
Mortgage Record
|
Company Name: |
Kakado Trading Company Limited (“the company”) |
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Instrument of Creating Mortgage: |
Deposit deed |
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Date of Creating Mortgage: |
2012-3-27 |
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Amount Secured: |
All moneys now or at any time in the future owing by the Company (the "Principal(s)”) (whether alone or jointly with any other person(s)) to Citibank or any Affiliate) under any banking, derivative, foreign exchange, trade, margin, guarantee or other facility or facilities or any account and all other liabilities (whether actual or contingent, present or future, as principal or surety or in some other capacity) (the “Facility or “Facilities”)，including, any and all the obligations of the Company and the Principal(s) under any Facility I Facilities pre-existing prior to the date of execution of this Deed (the “Obligations”). |
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Name of Mortgagee: |
Citibank, N. A. |
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Address of Mortgagee: |
21/F, Tower 1 & 2, The Gateway, Harbor City, Tsimshatsui, Kowloon, Hong Kong |
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Description of Property Mortgaged: |
By way of a first fixed charge and as a continuing security for the Obligations, the Company charges and assigns absolutely all its rights, title to and interest in the Accounts and all Deposits from time to time in the Accounts and/or comprising the Accounts maintained with Citibank, N.A., any branch and/or Citibank (Hong Kong) Limited. |
Special Note
Interview Details
|
Name |
Ms. Chan |
Industry Information
84587-- Articles Of Apparel, Men's Or Boys', N.E.S., Not Knitted Or Crocheted (No.)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Australia |
26 |
12 |
273 |
65 |
|
Belgium |
195 |
37 |
307 |
52 |
|
Switzerland |
56 |
136 |
404 |
887 |
|
Germany |
45 |
45 |
393 |
878 |
|
Spanish |
555 |
86 |
1,831 |
325 |
|
France |
80 |
62 |
1,002 |
722 |
|
Britain |
924 |
330 |
3,314 |
1,295 |
|
Italy |
752 |
902 |
3,626 |
4,008 |
|
Korea |
34 |
3 |
242 |
275 |
|
The Mainland of China |
192,038 |
11,315 |
733,322 |
43,102 |
|
Exports |
||||
|
France |
1 |
1 |
1 |
1 |
|
Macau |
-- |
-- |
47 |
36 |
|
-- |
-- |
183 |
142 |
|
|
USA |
15 |
3 |
171 |
161 |
|
The Mainland of China |
48 |
116 |
1,059 |
1,781 |
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.
Attachment
Unit C, 23/F, Egl Tower, 83 Hung To Road, Kwun Tong, Kowloon, Hong Kong
Unit C, 23/F, Egl Tower, 83 Hung To Road, Kwun Tong, Kowloon, Hong Kong
Unit C, 23/F, Egl Tower, 83 Hung To Road, Kwun Tong, Kowloon, Hong Kong
Unit C, 23/F, Egl Tower, 83 Hung To Road, Kwun Tong, Kowloon, Hong Kong
Unit C, 23/F, Egl Tower, 83 Hung To Road, Kwun Tong, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
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|
Report Prepared
by : |
SMN |
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.