MIRA INFORM REPORT
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Report Date : |
26.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SRITRIMS (FAR EAST) LIMITED |
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Registered Office : |
Room 302, 3rd Floor, |
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Country : |
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Date of Incorporation : |
13.04.2005 |
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Com. Reg. No.: |
963175 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Garment Accessories. |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 |
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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 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: |
Sritrims (Far
East) Limited |
|
Supplied Name: |
SRITRIMS(FAR
EAST)LTD |
|
Trading Address: |
Room 302, 3rd Floor,
Leader Commercial Building, 54-56,Hillwood Road, Tsim Sha Tsui, Hong Kong |
|
Supplied
Address: |
ROOM-302,3RD
FLOOR,LEADER COMMERCIAL BUILDING,54-56,HILLWOOD ROAD,TSIM SHA TSUI, HONG KONG |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Room 302, 3rd Floor, Leader Commercial Building, 54-56,Hillwood Road,
Tsim Sha Tsui, Hong Kong |
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Telephone Number: |
+852-9607-3253/2730-2001 |
|
Fax Number: |
+852-3014-9274 |
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Date of Registration: |
2005-4-13 |
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Registered Number: |
963175 |
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Business Registration No.: |
35525584 |
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Paid-up Capital: |
HKD 500,000 (USD 64,500) = 500,000 Shares@ HKD 1 (As of 2014.12, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
84619--Other clothing accessories and parts, not for babies, not
knitted or crocheted (kg) |
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Principal Activities: |
Trading of garment accessories, etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-4-13 |
Notes: Subject declined
to disclose the number of staff and from other source we cannot obtain the
information, either. The supplied telephone number (+852-2994-8552) is a vacant
number.
History
Subject was incorporated on 2005-4-13 with the registered number 963175
as Private Limited Liability Company in
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 (%) |
|
|
Nishantha Pradeep Wijetunga Delgoda |
500,000 |
100% |
|
Total |
500,000 |
100% |
Major Shareholder
Information:
|
Name: |
Nishantha Pradeep Wijetunga Delgoda |
|
Address: |
Room 302, 3rd
Floor, Leader Commercial Building, 54-56,Hillwood Road, Tsim Sha Tsui, Hong
Kong |
Management Information
Core Management
Detailed Information
of Directors:
|
1 |
|
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Name: |
Nishantha Pradeep Wijetunga Delgoda |
|
Address: |
Room 302, 3rd
Floor, Leader Commercial Building, 54-56,Hillwood Road, Tsim Sha Tsui, Hong
Kong |
|
Position: |
Director |
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ID Number: |
P134069(0) |
|
2 |
|
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Name: |
Sunlight Accountancy & Secretarial Limited |
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Address: |
18F, Bel Trade Commercial Building, 1-3 Burrows Street, Wan Chai, Hong
Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
446464 |
Operation Information
Offices
& Factories
|
|
Office |
|
Address: |
Room 302, 3rd Floor,
Leader Commercial Building, 54-56,Hillwood Road, Tsim Sha Tsui, Hong Kong |
Premises
Information
Office address:
|
Address: |
Office No.2 On 3rd Floor The Leader Commercial Building Nos.54 & 56
Hillwood Road Kowloon |
|
Owners: |
Huge Pine Enterprise Limited |
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Memorial Number: |
12110101030073 Assignment |
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Date of Instrument: |
2012-10-3 |
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Date of Registration: |
2012-11-1 |
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Consideration Value: |
$3,530,000.00 |
History
of Premises Owners’
|
1 |
|
|
Memorial No.: |
12082101130040 |
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Date of Instrument: |
2012-7-31 |
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Date of Registration: |
2012-8-21 |
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Nature: |
Agreement For Sale And Purchase |
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In Favor of: |
Huge Pine Enterprise Limited |
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Consideration: |
$3,530,000.00 |
|
2 |
|
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Memorial No.: |
10062902220056 |
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Date of Instrument: |
2010-6-2 |
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Date of Registration: |
2010-6-29 |
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Nature: |
Agreement For Sale And Purchase |
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In Favor of: |
Automatic Treasures Company Limited |
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Consideration: |
$2,250,000.00 |
|
3 |
|
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Memorial No.: |
UB9432790 |
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Date of Instrument: |
2004-12-17 |
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Date of Registration: |
2005-1-3 |
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Nature: |
Agreement For Sale And Purchase |
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In Favor of: |
Chu Chi Keung |
|
Consideration: |
$1,020,000.00 |
Production
Information
l Subject is engaged in trading of garment accessories, without any
production activities.
Purchase
Information
l Subject’s products are both purchased from the Mainland of China and
abroad.
Sales
Information
l Subject is engaged in sale of garment accessories,
l The main products of the subject are buttons, zippers, belts, stoppers,
rivets, cufflinks, laces, scarves,
l The sales regions of the subject are domestic market and abroad.
l Subject’s main customers are manufacturers of garments,
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Garment accessories, |
|
Payment Terms |
T/T, Cash, |
2.
Import
|
Products |
Garment accessories, |
|
Payment Terms |
L/C, T/T, |
1.
Domestic Markets
|
Product |
Garment accessories, |
|
Selling Terms |
T/T, Cash, |
2.
Export
|
Product |
Garment accessories, |
|
Selling Terms |
L/C, T/T, |
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
Mortgage
Record
|
1 |
|
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Company Name: |
Sritrims (Far East) Limited (“the Customer”) |
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Instrument of Creating Mortgage: |
Security Over Deposits With The Bank (Limited Company - Under Seal) |
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Date of Creating Mortgage: |
2007-11-1 |
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Amount Secured: |
To secure “all monies”, in respect of banking facilities owing at any
time plus interest and all expenses. |
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Name of Mortgagee: |
The Hongkong and Shanghai Banking Corporation Limited |
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Address of Mortgagee: |
No.1 Queen’s Road Central, Hong Kong |
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Description of Property Mortgaged: |
Initially HKD500,000.- and all monies whether now or hereafter standing
to the credit of the Company’s deposit with the Bank under deposit number
047-899711 and whatever currency it may subsequently be denominated in, any
renewal of such deposit & the interest thereon together with any further
moneys in any deposit account with the Bank at any of its offices. |
|
2 |
|
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Company Name: |
Sritrims (Far East) Limited (“the Assignor”) |
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Instrument of Creating Mortgage: |
Assignment of Life Insurance |
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Date of Creating Mortgage: |
2010-9-8 |
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Amount Secured: |
“Secured Monies” means (i) all and any monies and liabilities in any
currency whenever and however incurred , owing by the Assignor to the Bank at
any branch or office at any time, whether separately or jointly with any
other person, actually or contingently, whether presently or in future in any
capacity (whether as principal or surety), including amounts payable by the
Assignor under this Deed; (ii) interest on such monies (both before and after
any demand or judgment), to the date on which the Bank receives payment, at
the rates payable by the Assignor or which would have been payable but for
any circumstance which restricts payment, and (iii) all monies paid by the
Bank in respect of the Policy pursuant to the terms of this Deed; and (iv)
all expenses of the Bank in perfecting or enforcing this Deed on a full
indemnity basis. |
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Name of Mortgagee: |
The Hongkong and Shanghai Banking Corporation Limited |
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Address of Mortgagee: |
No.1 Queen’s Road Central, Hong Kong |
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Description of Property Mortgaged: |
Property Charged (i) all the Assignor’s claims, options, privileges, right, title,
interest and benefit in and under the Insurance; and (ii) all the Assignor’s
claims and rights (whether on a restitutionary basis or otherwise) against
the issuer of the Policy (whether directly or indirectly) upon the terms
herein set out as a continuing security for the due and punctual payment of
the Secured Monies. The Assignor will not. unless the Bank otherwise agrees in writing,
create or attempt or agree to create or permit to arise or exist any charge,
mortgage, pledge, lien or other security interest or encumbrance whatsoever
over all or any part of the Insurance or any interest therein or otherwise
assign，deal with or
dispose of all or any part of the Insurance (except under or pursuant to this
Deed). |
Lawsuits
Up to now, no present or latent litigation of the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Special Note
Interview Details
|
Department: |
Sales Department |
Industry Information
84619--Other clothing accessories and parts, not
for babies, not knitted or crocheted (kg)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Austria |
34 |
26 |
96 |
78 |
|
Switzerland |
258 |
735 |
1,590 |
4,191 |
|
The Mainland of China |
228,027 |
23,484 |
1,103,756 |
145,346 |
|
Germany |
158 |
94 |
460 |
413 |
|
France |
76 |
141 |
701 |
877 |
|
USA |
153 |
118 |
778 |
777 |
|
Italy |
1,020 |
2,256 |
6,094 |
9,758 |
|
Japan |
1,675 |
659 |
10,734 |
3,774 |
|
Exports |
||||
|
The Mainland of China |
1,779 |
247 |
7,928 |
939 |
|
Indonesia |
4,323 |
518 |
16,889 |
1,869 |
|
India |
1,069 |
153 |
2,229 |
315 |
|
Italy |
35 |
7 |
35 |
7 |
|
Singapore |
-- |
-- |
3 |
7 |
|
USA |
1,130 |
170 |
2,296 |
361 |
|
Vietnam |
5,842 |
729 |
31,646 |
3,613 |
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: Room 302, 3rd Floor, Leader Commercial
Building, 54-56, Hillwood Road, Tsim Sha Tsui, Hong Kong
Leader Commercial Building, 54-56, Hillwood Road, Tsim Sha Tsui, Hong
Kong
%20LIMITED%20-%20299581%2026-Dec-2014_files/image008.jpg)
3rd Floor, Leader Commercial Building, 54-56, Hillwood Road, Tsim Sha
Tsui, Hong Kong
%20LIMITED%20-%20299581%2026-Dec-2014_files/image003.jpg)
Room 302, 3rd Floor, Leader Commercial Building, 54-56, Hillwood Road,
Tsim Sha Tsui, Hong Kong
%20LIMITED%20-%20299581%2026-Dec-2014_files/image004.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.46 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.77.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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.