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Report Date : |
13.10.2014 |
IDENTIFICATION DETAILS
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Name : |
TOM TAILOR
SOURCING LTD. |
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Registered Office : |
Unit A, 7/F., Tong Yuen Factory Building, 505 Castle Peak Road, Lai Chi Kok, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
21.12.2011 |
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Com. Reg. No.: |
59281281 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Trader of all kinds of fashions. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 |
HONGKONG - 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 |
TOM TAILOR
SOURCING LTD.
ADDRESS: Unit A, 7/F., Tong Yuen Factory Building, 505 Castle Peak Road, Lai Chi Kok, Kowloon, Hong Kong.
Note: Please be advised that there is no such a company known as TT Sourcing Ltd. registered with the Companies Registry of Hong Kong.
PHONE: 852-3628 3521
E-MAIL: hr@tom-tailor.com.hk
Managing Director: Mr. Chirikandth Rajesh Madhavan Kadala
Incorporated on: 21st December, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$500,000.00
Business Category: Fashion Trader.
Employees: 10.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit A, 7/F., Tong Yuen Factory Building, 505 Castle Peak Road, Lai Chi Kok, Kowloon, Hong Kong.
Tom Tailor GmbH, Germany.
Ameya (BD) Pvt. Ltd., India.
Asmara America Inc., US.
Asmara Apparel India Pvt. Ltd., India.
Asmara Bangladesh Pvt. Ltd., Bangladesh.
Asmara Canada, Canada.
Asmara Europe GmbH, Germany.
Asmara Far East Ltd., China.
Asmara Home Products India Pvt. Ltd., India.
Asmara Home Products, Vietnam.
Asmara International Ltd., Hong Kong.
Asmara International Ltd., Turkey.
Asmara UK, UK.
Hangzhou Asmara Trading Ltd., China.
P.T. Ameya Livingstyle Indonesia, Indonesia.
P.T. Asmara Home Products Indonesia, Indonesia.
Sahana Creations India Pvt. Ltd., India.
Trendelephant GmbH, Germany.
etc.
59281281
1692802
Managing Director: Mr. Chirikandth Rajesh Madhavan Kadala
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital: HK$500,000.00
(As per registry
dated 21-12-2013)
|
Name |
|
No. of shares |
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Tom Tailor GmbH Garstedter Weg 14, 22453 Hamburg, Germany. |
|
255,000 |
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Asmara International Ltd., Hong Kong. |
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245,000 |
|
|
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‑‑‑‑‑‑‑‑‑‑‑ |
|
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Total: |
500,000 ====== |
(As per registry
dated 21-12-2013)
|
Name (Nationality) |
Address |
|
Chirikandth Rajesh Madhavan KADALA |
Flat C, 36/F., Tower 1, The Belcher’s, 89 Pok Fu Lam Road, Hong Kong. |
|
Jakob Stellan Gunnar ROJENS |
House 02, Valais I Gallen Boulevard, 28 Kwu Tung Road, Kwu Tung, New Territories, Hong Kong. |
|
Dieter HOLZER |
Albertshofen 12, 88212 Ravensburg, Germany. |
(As per registry
dated 21-12-2013)
|
Name |
Address |
Co. No. |
|
Arten Ltd. |
Unit 803, 8/F., Shanghai Industrial Investment Building, 48‑62 Hennessy Road, Wanchai, Hong Kong. |
0668986 |
The subject was incorporated on 21st December, 2011 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: Fashion Trader.
Lines: All kinds of fashions
Employees: 10.
Commodities Imported: China, other Asian countries, etc.
Markets: Germany, other European countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital: HK$500,000.00
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly 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: Normal.
Having issued 500,000
ordinary shares of HK$1.00 each, Tom Tailor Sourcing Ltd. is jointly owned by
Tom Tailor GmbH [TTG], a Germany company holding 51% interests, and Asmara
International Ltd. [AIL], a Hong Kong-registered company holding 49%. It is a member of Asmara Group.
The subject is a joint
venture between the Germany company and the Hong Kong company.
TTG has been partnering
with AIL for a very long time. AIL is a
member of the Asmara Group of companies.
TTG is a German fashion retailer
and the subject is engaged in sourcing all kinds of fashions in the Asia
Pacific region.
Dieter Holzer, one of the
directors of the subject, is also the CEO of TTG.
Now, the subject has become
a member of Germany public company Tom Tailor Group.
Now, the subject has had
associated companies or associated purchasing offices in Indonesia, China,
India, Bangladesh, Vietnam, Cambodia and Pakistan.
Asmara Group is trading in
the following commodities: all kinds of home products, garments, fashion accessories,
trims, fashion jewellery, etc.
Established in 2000 in
Indonesia, Asmara has grown into a global sourcing organisation in the areas of
apparel as well as home products.
The beginning of Asmara was
small, it just had an office with four persons in the city of Bogor in
Indonesia (about 50 km south of Jakarta, the capital). Over the following years, offices were opened
in India, Bangladesh, Hong Kong, China, Vietnam, Turkey, Sri Lanka and
Pakistan. The original product line of
apparel was further expanded to include accessories as well as home products.
Today, with about more than
700 professionals located in nine different offices worldwide, Asmara is
working in close coordination to offer its customers a wide sourcing platform
to cover their broad requirements in different products and at different price
points.
The subject is fully
supported by its two holding companies.
History in Hong Kong is just over two years and nine months.
On the whole, consider the
subject good for normal business engagements in small credit amounts as its
history in short.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.98.62 |
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Euro |
1 |
Rs.77.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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 |
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-- |
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.