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Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL DELTON FABRICS LTD. |
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Registered Office : |
8/F., Block B, Hoplite Industrial Centre, |
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Country : |
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Date of Incorporation : |
03.04.1990 |
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Com. Reg. No.: |
13532701 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and Exporters of all kinds of fabrics, coated fabrics, cotton,
nylon/cotton fibres, microfibres |
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No of Employees : |
25 (Including associates) |
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 : |
Slow but correct |
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Litigation : |
Exist |
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 01, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
INTERNATIONAL DELTON FABRICS LTD.
ADDRESS: 8/F., Block B, Hoplite
Industrial Centre, 3-5 Wang Tai Road, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 852-2331
3008, 2345 6235
FAX: 852-2331 3018
E-MAIL: export@delton.com.hk
wenzel@delton.com.hk
info@delton.com.hk
Managing Director: Mr. Marcus
Wenzel
Incorporated on: 3rd April, 1990.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$500,000.00
Business Category: Fabric
Importer and Exporter.
Employees: 25. (Including associates)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
INTERNATIONAL DELTON FABRICS LTD.
ADDRESS:
Registered Head Office:-
8/F., Block B, Hoplite Industrial Centre, 3-5 Wang Tai Road, Kowloon Bay,
Kowloon, Hong Kong.
Holding Company:-
International Delton Ltd., Hong Kong.
[Formerly known as Northern Capital Ltd.]
Associated Companies:-
East China Textiles Ltd., Hong Kong.
International Delton Consult Ltd., Hong Kong.
International Delton Europe Ltd., Hong Kong.
International Delton Real Estate Ltd., Hong Kong.
Silicon Ltd., Hong Kong.
[Dissolved]
That’s It Ltd., Hong Kong.
That’s It Retail Ltd., Hong Kong.
[Dissolved]
13532701
0274919
Managing Director: Mr. Marcus
Wenzel
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 03-04-2014)
|
Name |
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No. of shares |
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International Delton Ltd., Hong Kong. [Formerly known as Northern Capital Ltd.] |
|
470,000 |
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Thomas Zwicky |
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30,000 |
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|
––––––– |
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Total: |
500,000 ====== |
(As per registry dated 03-04-2014)
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Name (Nationality) |
Address |
|
Marcus Wenzel |
Unit 1-7, 8/F., Block B, Hoplite Industrial Centre, 3-5 Wang Tai Road,
Kowloon Bay, Kowloon, Hong Kong. |
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Int’l Delton Europe Ltd. |
8/F., Block B, Hoplite Industrial Centre, 3-5 Wang Tai Road, Kowloon Bay,
Kowloon, Hong Kong. |
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Int’l Delton Ltd. |
8/F., Block B, Hoplite Industrial Centre, 3-5 Wang Tai Road, Kowloon
Bay, Kowloon, Hong Kong. |
(As per registry dated 03-04-2014)
|
Name |
Address |
Co. No. |
|
Northern Capital Ltd. |
8/F., Block B, Hoplite Industrial Centre, 3-5 Wang Tai Road, Kowloon
Bay, Kowloon, Hong Kong. |
0420648 |
The subject was incorporated on 3rd April, 1990 as a private limited liability
company under the Hong Kong Companies Ordinance.
The subject was formerly located at Block B, 3/F., Gee Hing Chang
Industrial Building, 16 Cheung Yue Street, Cheung Sha Wan, Kowloon, Hong
Kong. Moved to Units 20-23, 5/F.,
International Plaza, 20 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong
in March 1995; and further to the present location in May 2000.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importers
and Exporters.
Lines: All
kinds of fabrics, coated fabrics, cotton, nylon/cotton fibres, microfibres
Employees: 25. (Including associates)
Commodities Handled: Mainly
imported from South Korea, India, Europe, etc.
Markets: Hong
Kong, China, Asia and Europe.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
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: Making
a small profit every year.
Condition: Keeping in a normal
condition.
Facilities: Making rather active use of
general banking facilities.
Payment: Delay payment experienced in the past.
Commercial Morality: Fairly satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Moderate.
International Delton Fabrics Ltd., incorporated in April 1990, is
jointly owned by International Delton Ltd. [IDL], holding 94% interests, and
Mr. Thomas Zwicky, holding 6%. IDL is
located at the same address.
The directors of the subject are Mr. Marcus Wenzel and IDL.
The subject is one of the members of International Delton Group which
was founded in 1983. International
Delton is a textile agency for European producers.
The subject is a providing outdoor materials such as jacket and trousers
materials with European management in Hong Kong. It is one of the largest material offerers of
fashionable outdoor materials.
The subject is trading in the following commodities:
Piecegoods - Vegetable Fibre (Woven for outerwear from Taiwan, South
Korea, Indonesia, China),
Piecegoods - Blended (Woven for outerwear from Taiwan, South Korea,
Indonesia, China),
Piecegoods - Synthetic (Woven include rayon/nylon/poly/microfibre from
Taiwan, South Korea, Indonesia, China), etc.
The subject’s products bear the brand name Delton. The trade mark Delton has been registered with the Trade Marks Registry, Intellectual
Property Department, the Government of the Hong Kong SAR. The filing date was 25th September, 2010
while the expiry date is 24th September, 2019.
The prime markets of the subject are Australasia, Eastern Europe, Japan,
South Korea, Southeast Asia, Taiwan, Other Asian Countries, Western Europe
North America, etc. Today the subject is
actively distributing its fashion fabrics in more than 30 countries and 5
continents. Its total annual capacity is
15 million yards with a total annual turnover of over HK$30 million.
The associated production facilities of the subject are in China, Taiwan
and South Korea.
The subject’s products have been bought by many major international
brands in the United States, Italy, France, Germany or Scandinavia who are
producing their garments in Asia. The
well-known brands include Polo Ralph Lauren, Coach, Tommy Hilfiger, Scotch
& Soda, Gaastra, etc.
There were some litigation filed with Hong Kong court against the group
for delay payments in the past.
As the history of the subject is over 24 years and four months in Hong Kong,
on the whole, consider it good for normal business engagements.
Court case of the
group:-
|
Date |
Plaintiff |
Defendant |
Cause |
Amount |
|
July 1992 |
Gee Chang Property Management Ltd. |
International Delton Fabrics Ltd. |
Possession |
Not stated |
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Jan. 1993 |
Chong Chi Shing, Santi |
International Delton Fabrics Ltd. and International Delton Co. Ltd. |
An order |
Not stated |
|
Jan. 1997 |
Fung Wah Textiles Ltd. |
International Delton Fabrics Ltd. |
Amount due |
HK$ 1,248,801 |
Property information of affiliate:-
Property Location: Flat
No. 504 on 3/F., Grosvenor House, 114-120 MacDonnell Road, Hong Kong.
Owner: Nrjetics
Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
07-02-2002 |
- |
Standard Chartered Bank, Hong Kong Branch. [Now known as Standard Chartered Bank (HK)
Ltd.] |
Legal charge to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.61 |
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UK Pound |
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
SMN |
RATING EXPLANATIONS
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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 |
-- |
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.