MIRA INFORM REPORT
|
Report Date : |
09.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAX TRADE LIMITED |
|
|
|
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Registered Office : |
Unit A, 9/F., Fu |
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Country : |
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Date of Incorporation : |
07.12.1995 |
|
|
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Com. Reg. No.: |
19571868 |
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|
Legal Form : |
Private Limited Liability Company |
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|
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LINE OF BUSINESS : |
TRADING OF GARMENTS |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 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 |
Company name and address
|
Company Name (in Chinese): |
|
|
Company Name (in English): |
MAX TRADE LIMITED |
|
Supplied Name: |
MAX TRADE LIMITED |
|
Trading Address: |
9/F, Fu Hop Factory Building, 209-211 Wai Yip St., Kwun Tong, Hong Kong |
|
Supplied Address: |
9/F, FU HOP FACTORY BUILDING, 209-211 WAI YIP ST., KWUN TONG, HONG KONG |
Note: The exact name is as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
|
Telephone Number: |
+852-2759-2097 |
|
Fax Number: |
+852-2759-4817 |
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E-mail: |
|
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Date of Registration: |
1995-12-7 |
|
Registered Number: |
533254 |
|
Business Registration No.: |
19571868 |
|
Registered Capital: |
HKD 250,000 (USD 32,250) (As of 2014.12, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 250,000 (USD 32,250) = 250,000 Shares@ HKD 1 |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
84425 -- Women's or girls' skirts and divided skirts, knitted or crocheted (no.) |
|
Principal Activities: |
Trading of garments, etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-12-7 |
Notes: The subject declined to disclose the number of staff, and from other source we cannot obtain the information, either.
History
Subject was incorporated on 1995-12-7 with the registered number 533254 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Subject did not
register any subsidiaries or branches, from other source we can not obtain the
relevant information, either.
Shareholders
|
Subscription Shares |
Proportion of
Investment (%) |
|
|
Dhananjay Malhotra |
122,500 |
49% |
|
Mamta Malhotra |
127,500 |
51% |
|
Total |
250,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Dhananjay Malhotra |
|
Address: |
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
|
2 |
|
|
Name: |
Mamta Malhotra |
|
Address: |
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
Management Information
Core Management
Detailed Information
of Directors:
|
1 |
|
|
Name: |
Dhananjay Malhotra |
|
Address: |
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
|
Position: |
Director & Secretary |
|
ID Number: |
K929063(A) |
|
2 |
|
|
Name: |
Mamta Malhotra |
|
Address: |
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
|
Position: |
Director |
|
ID Number: |
P236006(7) |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
Premises Information
Office address:
|
Address: |
Flat A On 9th Floor Fu Hop Factory Building Nos.209 & 211 Wai Yip Street Kowloon |
|
Owners: |
Max Trade Limited |
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Memorial Number: |
06040101110519 Assignment |
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Date of Instrument: |
2006-3-8 |
|
Date of Registration: |
2006-4-1 |
|
Consideration Value: |
$2,010,000.00 |
History of Premises Owners’
|
1 |
|
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Memorial No.: |
13122300930115 |
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Date of Instrument: |
2013-2-7 |
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Date of Registration: |
2013-12-23 |
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Nature: |
Order No. UBCS/06-31/0013/10 By The Building Authority Under S. 24(1) of the Buildings Ord. With Plan |
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In Favor of: |
-- |
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Consideration: |
-- |
|
2 |
|
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Memorial No.: |
12051102770109 |
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Date of Instrument: |
2012-5-2 |
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Date of Registration: |
2012-5-11 |
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Nature: |
Mortgage |
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In Favor of: |
The Hongkong And Shanghai Banking Corporation Limited |
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Consideration: |
All Monies |
|
3 |
|
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Memorial No.: |
06022300420013 |
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Date of Instrument: |
2006-1-25 |
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Date of Registration: |
2006-2-23 |
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Nature: |
Provisional Agreement For Sale And Purchase |
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In Favor of: |
Max Trade Limited |
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Consideration: |
$2,010,000.00 |
Production Information
Subject is engaged in trading of garments, etc. without any production activities.
It is introduced that subject’s related company has a factory in Bangladesh for production, but we cannot obtain the detail information.
Purchase Information
It is introduced that subject’s products are mainly purchased from its related company in Bangladesh.
Sales Information
Subject is engaged in sale of garments, etc.
The major products of the subject include garments of women, men and children, etc.
It is introduced that subject’s sales regions include domestic market and abroad.
The major customers of the subject are garment shops and supermarkets, etc.
Settlements
Purchase
Domestic Purchase
Subject has little domestic purchase.
Import
|
Products |
Garments, etc. |
|
Payment Terms |
Interior Settlement, L/C, T/T, etc. |
Domestic Markets
|
Product |
Garments, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Garments, etc. |
|
Selling Terms |
L/C, T/T, 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 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: |
2012-3-17 |
|
Court Name: |
Small Claim Tribunal |
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Court No.: |
004127/12 |
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Claimant: |
Grand Power Express International Ltd |
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Defendant: |
Max Trade Ltd c/o |
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Reason: |
Service Charge |
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Amount(HKD): |
-- |
|
2 |
|
|
Date: |
2011-3-14 |
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Court Name: |
Magistrates' Courts |
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Court No.: |
ESS39523 |
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Claimant: |
ESS39523/2010 |
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Defendant: |
Max Trade Ltd |
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Reason: |
Failing to furnish Profits Tax Return |
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Amount(HKD): |
-- |
|
3 |
|
|
Date: |
2008-10-3 |
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Court Name: |
District Court Tax Claim |
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Court No.: |
8006 |
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Claimant: |
Commissioner of Inland Revenue |
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Defendant: |
Max Trade Ltd |
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Reason: |
Tax |
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Amount(HKD): |
183,641.00 |
|
4 |
|
|
Date: |
2008-9-22 |
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Court Name: |
District Court Miscellaneous Proceedings |
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Court No.: |
4132 |
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Claimant: |
Geodis Wilson Hong Kong Ltd |
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Defendant: |
Max Trade Ltd |
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Reason: |
Freight Charges |
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Amount(HKD): |
556,614.27 |
|
5 |
|
|
Date: |
2008-09-19 |
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Court Name: |
District Court Civil Action |
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Court No.: |
4076 |
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Claimant: |
Ken Hill Freight
Services Ltd |
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Defendant: |
Dhananjay Malhotra (D1) |
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Reason: |
Freight Charges |
|
Amount(HKD): |
12,079.73 |
|
6 |
|
|
Date: |
2006-9-4 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
040918/06 |
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Claimant: |
Lion Button (Asia) Co. Ltd |
|
Defendant: |
Max Trade Ltd. |
|
Reason: |
Miscellaneous |
|
Amount(HKD): |
-- |
|
7 |
|
|
Date: |
2005-10-13 |
|
Court Name: |
Small Claim Tribunal |
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Court No.: |
051626 |
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Claimant: |
Asia Telecom Ltd |
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Defendant: |
Max Trade Ltd |
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Reason: |
|
|
Amount(HKD): |
-- |
|
8 |
|
|
Date: |
2003-5-23 |
|
Court Name: |
District Court Civil Action |
|
Court No.: |
2953 |
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Claimant: |
DFDS Transport (HK) Ltd |
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Defendant: |
Max Trade Ltd |
|
Reason: |
Dishonored Cheque |
|
Amount(HKD): |
96,342.65 |
|
9 |
|
|
Date: |
2002-7-22 |
|
Court Name: |
District Court Civil Action |
|
Court No.: |
4527 |
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Claimant: |
Meitat Hong Button Co Ltd |
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Defendant: |
Max Trade Ltd Unit E, 17/F Lever Tech Centre 69-71 King Yip St. Kwun Tong, Kln |
|
Reason: |
Good Sold & Delivered |
|
Amount(HKD): |
48,032.00 |
Mortgage Record
|
Company Name: |
Max Trade Limited |
|
Instrument of Creating Mortgage: |
Mortgage |
|
Date of Creating Mortgage: |
2012-8-31 |
|
Amount Secured: |
All moneys |
|
Name of Mortgagee: |
DBS Bank (Hong Kong) Limited |
|
Address of Mortgagee: |
11th Floor, The Center, 99 Queen’s Road Central, Hong Kong |
|
Description of Property Mortgaged: |
5/343rd parts or shares of and in Kwun Tong Inland Lot No. 160 (workshop Unit 2 on 12th Floor, Hung To Industrial Building, No. 80 Hung to Road, Kowloon) |
Special Note
Interview Details
|
Name |
Mr. Dhananjay |
|
Department: |
Sales Department |
Industry Information
84425 -- Women's or girls' skirts and divided skirts, knitted or crocheted (no.)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
4 |
56 |
1,225 |
188 |
|
Bangladesh |
16,063 |
246 |
95,048 |
1,974 |
|
The Mainland of China |
1,363,559 |
37,852 |
5,526,624 |
162,187 |
|
Germany |
785 |
1,152 |
13,484 |
3,288 |
|
Spain |
10,659 |
655 |
51,456 |
4,046 |
|
Indonesia |
9,714 |
339 |
23,552 |
933 |
|
Italy |
22,515 |
6,731 |
92,245 |
41,195 |
|
Japan |
5,007 |
863 |
17,708 |
3,405 |
|
South Korea |
8,014 |
448 |
32,348 |
2,720 |
|
Vietnam |
10,595 |
556 |
32,967 |
2,217 |
|
Exports |
||||
|
United Arab Emirates |
6 |
17 |
29 |
86 |
|
Canada |
12 |
30 |
23 |
35 |
|
The Mainland of China |
17 |
2 |
112 |
16 |
|
UK |
57 |
19 |
57 |
19 |
|
Italy |
-- |
-- |
642 |
315 |
|
Japan |
74 |
62 |
415 |
245 |
|
South Korea |
46 |
87 |
476 |
263 |
|
Netherlands |
137 |
63 |
174 |
87 |
|
USA |
547 |
183 |
1,437 |
420 |
External Trade Information:
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
Address: Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong
Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong
9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
|
1 |
Rs.96.37 |
|
Euro |
1 |
Rs.76.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
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.