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Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
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Name : |
COTSWOLD
INTERNATIONAL LTD. |
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Registered Office : |
4/F., Wing Wah Industrial Building, 137-143 Yeung Uk Road, Tsuen Wan,
New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.10.2004 |
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Com. Reg. No.: |
35046691 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Fabric Trader like Garments, fabrics, dyed yarns. |
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No. of Employees |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
COTSWOLD
INTERNATIONAL LTD.
ADDRESS:
4/F., Wing Wah Industrial
Building, 137-143 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong.
PHONE: 852-2242 9000
FAX: 852-1142 9022
E-MAIL: ed@cotswoldindustries.com
philip@cotswold.com.hk
Managing
Director: Mr. Li Bo Hang, Philip
Incorporated on: 27th October, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$5,460,000.00
Issued: HK$5,460,000.00
Business Category: Fabric Trader.
Employees: 20.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
COTSWOLD
INTERNATIONAL LTD.
ADDRESS:
Registered
Head Office:-
4/F., Wing Wah
Industrial Building, 137-143 Yeung Uk Road, Tsuen Wan, New Territories, Hong
Kong.
Holding
Company:-
Cotswold
Industries Inc., US.
Associated
Companies:-
Cotswold de Mexico
S. de R.L de C.V., Mexico.
Cotswold Textiles
Inc., US.
35046691
0929886
Managing Director: Mr. Li Bo Hang, Philip
Nominal Share
Capital: HK$5,460,000.00 (Divided into 5,460,000 shares of HK$1.00 each)
Issued Share
Capital: HK$5,460,000.00
(As
per registry dated 27-10-2013)
|
Name |
|
No.
of shares |
|
Cotswold Industries Inc. 10 East 40th
Street, New York, NY 10016, US. |
|
5,460,000 ======= |
(As
per registry dated 27-10-2013)
|
Name (Nationality) |
Address |
|
James
Wingfield McKINNON |
13 Redfield Street, Rye, N.Y. 10580, US. |
|
LI Bo
Hang, Philip |
Room G, 12/F., Tower 6, Manhattan Hill, 1
Po Lun Street, Lai Chi Kok, Kowloon, Hong Kong. |
(As
per registry dated 27-10-2013)
|
Name |
Address |
Co.
No. |
|
Ford
Secretaries Ltd. |
Room 1021, 10/F., Sun Hung Kai Centre, 30 Harbour Road, Wanchai,
Hong Kong. |
0039162 |
The
subject was incorporated on 27th October, 2004 as a private limited liability
company under the Hong Kong Companies Ordinance.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Fabric Trader.
Lines: Garments, fabrics, dyed yarns.
Employees: 20.
Commodities Imported: China, other Asian countries, etc.
Markets: Asian countries, Europe, US, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$5,460,000.00 (Divided into 5,460,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,460,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Cotsworld
International Ltd. is a wholly-owned subsidiary of Cotswold Industries, Inc.
[Cotswold] which is a US-based company.
The
directors of the subject are Mr. James Wingfield McKinnon and Mr. Li Bo Hang,
Philip. The latter is a Hong Kong
merchant and is currently the managing director of the subject.
The
subject is trading in non-woven textile products, apparels, knitted and woven
fabrics, dyed yarns, etc. Commodities
are sourced from China, the other Asian countries, etc. Prime markets are the United States, Europe,
Asian countries, etc. Business is rather
active.
Founded
in 1954, Cotswold is now under the third generation of a family business. It is a leader in developing and distributing
technical textiles and apparel fabrics.
Cotswold
offers woven products for coating, laminating, medical, and various commercial
applications; industrial fabrics for military, federal prison systems,
commercial wall covering, vinyl coating, and medical markets in the United
States and internationally; and various industrial fabrics and non‑woven
wipes for the telecommunications and clean-room industries. The company also provides pocketing fabrics
that are available in various poly/cotton and cotton blends, herringbones, box
weaves, diagonal lines, and specialty weaves; dress, casual, and stretch
waistbands; and cut-away, tear‑away, and wash-away embroideries.
In
addition, Cotswold offers fusible interlinings and synthetic blends; C-Fuse for
the fusing of belt loops; cotton and polyester blended fabrics for apparel,
military, home furnishings, and industrial applications; wovens and non‑wovens
for apparel; and wet laid and chemically bonded products for embroidery,
depilation, apparel, and geo-textile applications.
Cotswold
was founded in 1954 and is headquartered in New York, the United States
and with locations in Matthews, North Carolina, and Lomita, California.
Cotswold
also has had an associated company in Mexico.
The CEO of Cotswold is also James Wingfield McKinnon.
The
business of the subject is chiefly handled by Mr. Li Bo Hang, Philip. History in Hong Kong is over nine years.
The
subject is fully supported by Cotswold.
On
the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.99 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
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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.
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