MIRA
INFORM REPORT
|
Report Date : |
31.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRISTAR FASHION LIMITED |
|
|
|
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Registered Office : |
7/F, |
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|
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Country : |
|
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|
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Date of Incorporation : |
22.02.2012 |
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|
|
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Com. Reg. No.: |
59441039 |
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|
|
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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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|
|
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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 |
|
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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 |
Company name and address
|
Company Name: |
Tristar Fashion Limited |
|
Supplied Name: |
TRISTAR FASHION LTD |
|
Trading Address: |
7/F, Dragon Industrial Building, 93 King Lam Street, Kowloon, Hong Kong |
|
Supplied Address: |
7/F, DRAGON INDUSTRIAL BUILDING , 93 KING LAM STREET, KOWLOON, HONGKONG |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
7/F, Dragon Industrial Building, 93 King Lam Street, Kowloon, Hong Kong |
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Telephone Number: |
+852-2786-7788 |
|
Fax Number: |
+852-3544-7850 |
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Date of Registration: |
2012-2-22 |
|
Registered Number: |
1708694 |
|
Business Registration No.: |
59441039 |
|
Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2014.12, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD 1 |
|
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 garments, etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-2-22 |
Notes: Subject declined to disclose the number of staff, and from other source we cannot obtain the information, either.
History
Subject was incorporated on 2012-2-22 with the registered number 1708694 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Parent Company
|
Name: |
Top Grade International Enterprise Limited |
|
Address: |
7/F, Dragon Industrial Building, 93 King Lam Street, Kowloon, Hong Kong |
|
Date of Registration: |
1995-3-30 |
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Registered Number: |
510037 |
|
Business Registration No.: |
19057127 |
Group Offices
|
1 |
|
|
Name: |
Bangladesh Office |
|
Address: |
House #16, 2nd, 4th & 5th Floors, Road #4, Sector #3, Uttara, Dhaka – 1230 Bangladesh |
|
Tel: |
+88-2-891-5343, 893-1543, 791-3401 |
|
Fax: |
+88-2-791-3692 |
|
2 |
|
|
Name: |
Vietnam Office |
|
Address: |
Minh Thu Building, (2nd Floor), C40-C41, Bis Nguyen Van Qua, P. Dong Hung Thuan, Q-12 - Hcm, Vietnam |
|
Tel: |
+88-2-891-5343, 893-1543, 791-3401 |
|
Fax: |
+88-2-791-3692 |
Shareholders
|
Subscription Shares |
Proportion of
Investment (%) |
|
|
Top Grade International Enterprise Limited |
5,100 |
51% |
|
Hirth Christain |
4,900 |
49% |
|
Total |
10,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Top Grade International Enterprise Limited |
|
Address: |
7/F, Dragon Industrial Building, 93 King Lam Street, Kowloon, Hong Kong |
|
2 |
|
|
Name: |
Hirth Christain |
|
Address: |
37 Pan Long Wan, Clearwater Bay, Sai Kung, NT, Hong Kong |
Management Information
Core Management
Detailed Information
of Directors:
|
1 |
|
|
Name: |
Lui Wing Har |
|
Address: |
Blcok 5, 48F, Flat B, Aqua Marine, 8 Sharn Shing Rd., Cheung Sha Wan, Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
G101870(0) |
|
2 |
|
|
Name: |
Hebestreit Thomas Hans |
|
Address: |
House 17, The Riviera, 10 Pik Sha Rd., Clear Water Bay, Sai Kung, NT, Hong Kong |
|
Position: |
Director |
|
ID Number: |
P924999(4) |
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4 |
|
|
Name: |
Hirth Christian |
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Address: |
37 Pan Long Wan, Clearwater Bay, Sai Kung, NT, Hong Kong |
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Position: |
Director |
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ID Number: |
P253260(7) |
|
3 |
|
|
Name: |
SecEasy Consultants Limited |
|
Address: |
Unit 2302, 23F, 113 Argyle St., Mongkok, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
1293064 |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
7/F, Dragon Industrial Building, 93 King Lam Street, Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
7/F, Dragon Industrial Building, 93 King Lam Street, Kowloon, Hong Kong |
|
Owners: |
Fine Harvest Investment Limited |
|
Memorial Number: |
09110902840583 ASSIGNMENT |
|
Date of Instrument: |
2009-10-14 |
|
Date of Registration: |
2009-11-9 |
|
Consideration Value: |
$56,500,000.00 (PT.) |
History of Premises Owners’
|
1 |
|
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Memorial No.: |
13051602480021 |
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Date of Instrument: |
2013-3-8 |
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Date of Registration: |
2013-5-16 |
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Nature: |
Deed Of Confirmatory Release |
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In Favor of: |
-- |
|
2 |
|
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Memorial No.: |
09110902840593 |
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Date of Instrument: |
2009-10-14 |
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Date of Registration: |
2009-11-9 |
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Nature: |
Mortgage |
|
In Favor of: |
The Hongkong And Shanghai
Banking Corporation Limited |
|
Consideration: |
For Consideration See Memorial
(PT.) |
|
3 |
|
|
Memorial No.: |
09091702590360 |
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Date of Instrument: |
2009-9-4 |
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Date of Registration: |
2009-9-17 |
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Nature: |
Agreement For Sale And Purchase |
|
In Favor of: |
Fine Harvest Investment Limited |
|
Consideration: |
$56,500,000.00 (PT.) |
Note: PT. means of part of.
Production Information
Subject is engaged in trading of garments, etc. without any production activities.
Purchase Information
Subject’s products are both purchased at home and abroad.
Sales Information
Subject is engaged in sale of garments, etc.
The major products of the subject are sweaters, T-shirts, Blouses, Shirts, Jeans, Casual pants, Jackets, Sleepwear, baby products, etc.
Subject’s sales regions include domestic market, Singapore, India, Southeast Asia, Europe, America, etc.
The major customers of the subject are shops and dealers of garments.
Settlements
Purchase
Domestic Purchase
|
Products |
Garments, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Garments, etc. |
|
Payment Terms |
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
Mortgage Record
No mortgage record was found.
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 |
|
High Court Construction & Arbitration Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special Note
Interview Details
|
Name |
Mr. Hirth |
|
Department: |
Sales Department |
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
Address: 7/F, Dragon Industrial Building, 93 King Lam Street, Kowloon, Hong Kong
Dragon Industrial Building, 93 King Lam Street, Kowloon, Hong Kong
7/F, Dragon Industrial Building, 93 King Lam Street, Kowloon, Hong Kong
7/F, Dragon Industrial Building, 93 King Lam Street, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.75 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.77.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.