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Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
HOODVIAN LTD. |
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Registered Office : |
Unit 1506, 15/F., One Harbourfront, 18 Tak Fung Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
31.03.1989 |
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Com. Reg. No.: |
12634283 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of All kinds of garments. |
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No. of Employees : |
15 |
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 |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
HOODVIAN
LTD.
ADDRESS: Unit 1506, 15/F., One Harbourfront, 18
Tak Fung Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2954 2266
FAX: 852-2954 2890
Managing Director: Mr.
Wu Chi Kai, Johnico
Incorporated on: 31st
March, 1989.
Organization: Private
Limited Company.
Paid Up Capital: HK$2,340,000.00
Business Category: Garment Trader.
Employees:
15.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
HOODVIAN
LTD.
Registered
Head Office:-
Unit 1506, 15/F., One Harbourfront, 18 Tak
Fung Street, Hunghom, Kowloon, Hong Kong.
Holding
Company:-
The Bridge Holding Ltd., Hong Kong.
Associated/Affiliated
Companies:-
Bridge Group of
Companies
Addwood Ltd., Hong Kong. (Same address)
Canway Industries Ltd., China.
Carlton Garments (Pvt) Ltd., Sri Lanka.
Continental Apparels (Pvt) Ltd., Sri Lanka.
CSV Ltd., Hong Kong.
East Asia Buying Services Ltd., Hong Kong.
Fabritex Exports (Pvt) Ltd., India.
Fillberg Ltd., Hong Kong.
K. S. P. Ltd., Sri Lanka.
Koggala Garments (Pvt) Ltd., Sri Lanka.
KSP Global (HK) Ltd., Hong Kong.
KSP Ltd., Hong Kong.
Maxtel Ltd., Hong Kong. (Same address)
Noveltrade International Ltd., Hong Kong.
Osprey Clothing (Pvt) Ltd., Sri Lanka.
Riviera Ltd., Israel.
T.S.I. Industries (Pvt) Ltd., India.
VC Collection Ltd., Hong Kong.
Wingreat Ltd., Hong Kong.
Wingreat Ltd., Sri Lanka.
Wingreat Ltd., Taiwan.
Wingreat Ltd., Vietnam.
Wingreat Shenzhen, China.
etc.
12634283
0247373
Managing Director: Mr. Wu Chi Kai, Johnico
HK$2,340,000.00
(As per registry dated 15-07-2014)
|
Name |
|
No.
of shares |
|
The Bridge Holding Ltd., Hong Kong. |
|
1,287,000 |
|
Multihulls Trading Ltd., Hong Kong. |
|
1,053,000 |
|
|
|
‑‑‑‑‑‑‑‑‑‑‑‑‑ |
|
|
Total: |
2,340,000 ======= |
(As per registry dated 31-03-2014)
|
Name (Nationality) |
Address |
|
WU Chi Kai Johnico |
Flat B, 18/F., Tower 10, Parc Royale, 8 Hin
Tai Street, Shatin, New Territories. |
|
Mordechai KAFRY |
1/F., May Tower II, 5 May Road, Hong Kong. |
|
Malik Devapriya SAMARAWICKRAMA |
50/24 Bullers Lane, Colombo 7, Sri Lanka. |
(As per registry dated 31-03-2014)
|
Name |
Address |
Co.
No. |
|
Teamwork Secretarial Co. Ltd. |
11/F., Hong Kong Trade Centre, 161-167 Des
Voeux Road Central, Hong Kong. |
0248117 |
The subject was incorporated on 31st March,
1989 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: Garment
Trader.
Lines: All
kinds of garments.
Employees: 15.
Commodities Imported: Europe, Sri Lanka, other Asian countries, etc.
Markets: China,
North America, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P,
etc.
Paid Up Capital: HK$2,340,000.00
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.
Having issued 160 ordinary shares of HK$1.00
each, Hoodvian Ltd. is jointly owned by two Hong Kong-registered companies,
namely, The Bridge Holding Ltd., holding 55% interests; Multihulls Trading
Ltd., holding 45%.
The subject is a garment trader. It is trading in the following commodities:
Knitted Garments (OEM), Dress & Skirt - Knitted (OEM), Trousers & Pants
- Knitted (OEM), Coat - Knitted (OEM), Jacket - Knitted (OEM), Knitted Garment
- Cut & Sewn (OEM), Pyjamas (OEM), etc.
The subject’s factory is in Sri Lanka known
as Koggala Garments (Pvt) Ltd. It also
has had other manufacturing facilities in India and China.
Most of the products are sourced from Sri
Lanka. Prime markets are China, Europe,
North America, other Asian countries, etc.
One of its significant customers is Levi Strauss & Co.
The subject is one of the members of Bridge
Group of Companies. It is the
manufacturing arm of the Bridge Group.
It has associated companies in Israel,
India, Sri Lanka, Taiwan, Vietnam, China, etc.
The subject’s business is chiefly handled by
Mr. Wu Chi Kai, Johnico and Mr. Mordechai Kafry.
The history of the subject in Hong Kong is
over 25 years and six months.
On the whole, consider the subject good for
normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.32 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SDA |
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 |
|
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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 |
|
|
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.