MIRA INFORM REPORT
|
Report Date : |
23.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
LINMARK (HK) LIMITED |
|
|
|
|
Registered Office : |
1123, Kowloonbay International Trade & Exhibition
Centre, 1 Trademart Drive, Kowloon Bay, Kowloon |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.04.2014 (Consolidated) |
|
|
|
|
Date of Incorporation : |
22.03.1999 |
|
|
|
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Com. Reg. No.: |
670350 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
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Line of Business : |
· engaged in Investment Holding, Procurement Agent and trading of merchandise · Subject products ranges include Garments, Fashion Accessories, Labels, Furniture, Cosmetics, Homeware, Ceramics, Consumer Electronic Products & Labels. |
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|
|
|
No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to part
any information from the company management.] |
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 |
|
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) |
|
Hong Kong |
a1 |
a1 |
|
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 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 (in Chinese): |
林麥(香港)有限公司 |
|
Company Name (in English): |
Linmark (HK) Limited |
|
Supplied Name: |
LINMARK (HK) LIMITED |
|
Trading Address: |
1123, Kowloonbay International Trade &
Exhibition Centre, 1 Trademart Drive, Kowloon Bay, Kowloon, Hong Kong |
|
Supplied Address: |
1123, KITEC, 1 TRADEMART DRIVE, KOWLOON BAY, KOWLOON HONG KONG |
Note: The exact
name and address are as above.
Credit Summary
|
Credit Opinion: |
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
1123, Kowloonbay International Trade & Exhibition
Centre, 1 Trademart Drive, Kowloon Bay, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2753-7373 |
|
Fax Number: |
+852-2721-6554 |
|
Date of Registration: |
1999-3-22 |
|
Registered Number: |
670350 |
|
Business Registration No.: |
30016150 |
|
Paid-up Capital: |
HKD 2 (USD 0.258) = 2 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: |
engaged in Investment Holding, Procurement Agent and trading of merchandise |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-3-22 |
Notes: Subject declined to disclose its staff number; from other source we
cannot obtain the relevant information, either.
History
Subject was incorporated on 1999-3-22 with the registered number 670350 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
2000-5-26 |
Linmark (HK) Limited |
|
林麥(香港)有限公司 |
|
|
1999-3-22 |
Linmark (HK) Limited |
Corporate Structure
Ultimate Parent
Company
|
Name: |
Linmark Group Limited |
|
Address: |
1101-1108 Hong Kong Int. Trade & Exhibt.
Trademart Drive, Kowloon Bay |
|
Tel: |
+852-2-7537373 |
|
Fax: |
+852-2-7216554 |
|
Listed at Stock Exchange: |
Yes; stock symbol: HKG:0915 |
|
Description: |
Linmark Group Limited is an investment
holding company. The Company and its subsidiaries are engaged in the sales of
merchandise and the provision of procurement and value-added services. |
Major Related
Companies
|
1.
Benchmark Profits
Limited 2. International Laboratory Services Limited 3. ISO International (Holdings) Limited\ 4. Linmark Agency (BVI) Limited 5. Linmark Agency (Hong Kong) Limited 6. Linmark Development (BVI) Limited 7. Linmark Holdings Limited 8. Linmark International (Bangladesh) Ltd. 9. Linmark International (Hong Kong) Limited 10.
Linmark Merchandise Consultancy (Shenzhen)
Limited |
Notes: It is introduced that subject’s group has many members covering
all over the world, we offered the 10 members as subject’s major related
companies for references.
Shareholders
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Linmark Westman Investments Limited |
1 |
50% |
|
Sign Express Limited |
1 |
50% |
|
Total |
2 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Linmark Westman Investments Limited |
|
Address: |
P. O. Box 957, Offshore Incorporations Centre,
Road Town, Tortola, British Virgin Islands |
|
2 |
|
|
Name: |
Sign Express Limited |
|
Address: |
1179, Kowloonbay International Trade &
Exhibition Centre, 1 Trademart Drive, Kowloon Bay, Kowloon, Hong Kong |
|
Date of Registration: |
1997-10-17 |
|
Registered Number: |
626671 |
|
Business Registration No.: |
21367639 |
Management Information
Core Management
Detailed
Information of Directors:
|
Name: |
Wang Lu Yen |
|
Address: |
Flat C, 32/F, Block 2, Estoril Court, No. 55
Garden Road Hong Kong |
|
Position: |
|
|
ID Number: |
P152541(0) |
|
2 |
|
|
Name: |
Khoo Kim Cheng |
|
Address: |
Flat B, 4th Floor, St. Louis
Mansion, No. 20 Macdonel Road, Mid-Level Hong Kong |
|
Position: |
Director |
|
ID Number: |
K781240(A) |
|
3 |
|
|
Name: |
Wong Hing Lin, Dennis |
|
Address: |
Flat C, 12/F, Block 2, Elegant Terrace, 36
Conduit Road Mid Levels Hong Kong |
|
Position: |
Director |
|
ID Number: |
D750001(8) |
|
4 |
|
|
Name: |
Sign Express Limited |
|
Address: |
1179, Kowloonbay International Trade & Exhibition
Centre, 1 Trademart Drive, Kowloon Bay, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
626671 |
Operation Information
Offices &
Factories
|
|
Office |
|
Address: |
1123, Kowloonbay
International Trade & Exhibition Centre, 1 Trademart Drive, Kowloon Bay,
Kowloon, Hong Kong |
Premises
Information
According to subject’s current trading address, we did not find any
premises information from local land registry; from other source we can not
obtain any relevant information, either.
Operation
Information
l The subject is mainly engaged in investment holding, procurement agent
and trading of merchandise
l Subject’s major products include garments, fashion accessories, labels,
furniture, cosmetics, homeware, ceramics, consumer electronic products &
labels.
l It is introduced that subject provide the services about investment
holding, purchasing, solutions for supply chain management.
l Subject’s selling territory includes USA, Canada, Europe, South Africa,
Asia and Australia.
l Subject’s major customers are chain supermarket, wholesalers, chain
supermarkets, department stores, members of its group and etc.
Trademark
|
1 |
|
|
Trade Mark No.: |
302521043 |
|
Status: |
Registered |
|
Mark: |
ABSENCE OF COLOR
|
|
Mark Type: |
Ordinary |
|
Owner's Name, Address: |
Linmark (HK) Limited |
|
Owner's Address |
BAKER &
McKENZIE |
|
Agent's Address: |
14TH FLOOR,
HUTCHISON HOUSE, |
|
Class No.: |
25 |
|
Specification: |
|
|
Date of Filing: |
08-02-2013 |
|
Date of
Publication of |
23-08-2013 |
|
Date of
Registration: |
08-02-2013 |
|
Actual Date of |
29-11-2013 |
|
Expiry date: |
07-02-2023 |
|
Historical
Details: |
|
|
Date of entry |
Matters |
|
29-11-2013 |
REGISTRATION |
|
2 |
|
|
Trade Mark No.: |
302521052 |
|
Status: |
Registered |
|
Mark: |
AOC
|
|
Mark Type: |
Ordinary |
|
Owner's Name,
Address: |
Linmark (HK)
Limited |
|
Owner's Address |
BAKER &
McKENZIE |
|
Agent's Address: |
14TH FLOOR,
HUTCHISON HOUSE, |
|
Class No.: |
25 |
|
Specification: |
Class 25 |
|
Date of Filing: |
08-02-2013 |
|
Date of
Publication of |
23-08-2013 |
|
Date of
Registration: |
08-02-2013 |
|
Actual Date of |
29-11-2013 |
|
Expiry date: |
07-02-2023 |
|
Historical
Details: |
|
|
Date of entry |
Matters |
|
29-11-2013 |
REGISTRATION |
%20LIMITED%20%20-%20299442%2023-Dec-2014_files/image016.jpg){kind=small}
%20LIMITED%20%20-%20299442%2023-Dec-2014_files/image017.jpg)
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Merchandise, etc |
|
Payment Terms |
Cash, T/T and etc |
2.
Import
|
Products |
Merchandise, etc |
|
Payment Terms |
L/C, T/T and etc |
Sales
1.
Domestic Markets
|
Product |
Merchandise, etc |
|
Selling Terms |
Cash, T/T and etc |
2.
Export
|
Product |
Merchandise, etc |
|
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.
We found the consolidated financial information of subject’s parent company (Linmark Group Limited) from public files for reference.
Balance Sheet
Unit: USD/000
|
Consolidated |
2014-4-30 |
2013-4-30 |
|
Total
non-current assets |
26,895 |
27,488 |
|
Total
current assets |
23,820 |
33,937 |
|
Total
current liabilities |
16,993 |
17,700 |
|
NET
CURRENT ASSETS |
6,827 |
16,237 |
|
Total
non-current liabilities |
1,005 |
979 |
|
NET
ASSETS |
32,717 |
42,746 |
Profit and Loss Account
Unit: USD/000
|
Consolidated |
2013-5-1~2014-4-30 |
2012-5-1~2013-4-30 |
|
REVENUE
|
103,397 |
110,047 |
|
Gross
profit |
26,970 |
27,588 |
|
PROFIT
BEFORE TAX |
4,855 |
4,929 |
Bankers
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Public
|
2007-05-31 |
|
|
Court Name: |
Labour Tribunal |
|
Court No.: |
LBTC2451 |
|
Claimant: |
(LAM CHOI YUK) (LBTC2451/2007) (Parties) |
|
Defendant: |
LINMARK (HK) LIMITED (LBTC) (Parties) |
|
Reason: |
Not Stated |
Mortgage Record
No mortgage record of subject was found.
Special Note
Interview
Details
|
Name |
The Operator |
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 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
1123, Kowloonbay International Trade & Exhibition Centre, 1 Trademart
Drive, Kowloon Bay, Kowloon, Hong Kong
%20LIMITED%20%20-%20299442%2023-Dec-2014_files/image018.jpg)
1123, Kowloonbay International Trade & Exhibition Centre, 1 Trademart
Drive, Kowloon Bay, Kowloon, Hong Kong
%20LIMITED%20%20-%20299442%2023-Dec-2014_files/image019.jpg)
1123, Kowloonbay International Trade & Exhibition Centre, 1 Trademart
Drive, Kowloon Bay, Kowloon, Hong Kong
%20LIMITED%20%20-%20299442%2023-Dec-2014_files/image020.jpg)
1123, Kowloonbay International Trade & Exhibition Centre, 1 Trademart
Drive, Kowloon Bay, Kowloon, Hong Kong
%20LIMITED%20%20-%20299442%2023-Dec-2014_files/image021.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.18 |
|
UK Pound |
1 |
Rs.98.85 |
|
Euro |
1 |
Rs.77.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.