MIRA INFORM REPORT
|
Report No. : |
317486 |
|
Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
NILORN EAST ASIA LIMITED |
|
|
|
|
Formerly Known As : |
· NILORN-CALMON FAR EAST LIMITED · LUCKY CYBER LIMITED |
|
|
|
|
Registered Office : |
Unit 1701, Westley Square, 48 Hoi Yuen Road, Kwun Tong, Kowloon |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
02.08.2000 |
|
|
|
|
Com. Reg. No.: |
31220990 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
LINE OF BUSINESS : |
TRADING OF GARMENT ACCESSORIES. |
|
|
|
|
No. of Employees : |
Not Available |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 40.7 million
in 2013, 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 48.5% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9%
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. As of year-end 2014, the Democracy
protests that began in late September probably will have some adverse effects
on economic growth, particularly retail sales.
|
Source
: CIA |
Contact
Points
|
Company Name (in English): |
Nilorn East Asia Limited |
|
Supplied Name: |
NILORN EAST LIMITED. |
|
Trading Address: |
Unit 1701, Westley Square, 48 Hoi Yuen Road,
Kwun Tong, Kowloon, Hong Kong |
|
Supplied Address: |
Rm1701,17/F, Westley Square, 48 Hoi Yuen Road, KWUN TONG, KOWLOON,
HONG KONG. |
Note: The exact name
and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit 1701, Westley
Square, 48 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2-371-2218 |
|
Fax Number: |
+852-2-371-2629 |
|
E-mail: |
|
|
Date of Registration: |
2000-8-2 |
|
Registered Number: |
726251 |
|
Business Registration No.: |
31220990 |
|
Paid-up Capital: |
HKD 2 (USD 0.258) = 2 Shares@ HKD 1 (As of 2015.04, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
65621--Labels, badges and similar articles
of textile materials, woven, in the piece, in strips or cut to shape or size,
not embroidered (kg) |
|
Principal Activities: |
Trading of garment accessories. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-8-2 |
Notes: Subject declined
to disclose its staff number; from other source we cannot obtain the relevant
information, either.
History
Subject was incorporated on 2000-8-2 with the
registered number 726251 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
2006-12-22 |
Nilorn East Asia Limited |
|
2000-9-8 |
Nilorn-Calmon Far East Limited |
|
2000-8-2 |
Lucky Cyber Limited |
Corporate
Structure
Major Related Companies
|
NILORN BANGLADESH LTD Millennium Castle (11th & 12th Floors) House # 47, Road # 27, Block -A, Banani, Dhaka-1213, BANGLADESH T: +880 288 35 912, +88 02 88 18 418-20 F: +880 288 35 913 NILORN BELGIUM NV Brusselsesteenweg 525, 9090 Melle, BELGIUM T: +32 9 210 40 90 F: +32 53 82 77 82 Lixi (Shanghai) Trading Co., ltd (Liberal
Translation) RM 701, No. 288 Chengjiaqiao Road, Minhang
District, Shanghai, CHINA T: +86-21-55348268 F: +86-21-64019750 NILORN DENMARK A/S Vestergade 48, 5000 Odense C, DENMARK T: +45 70 23 16 23 F: +45 66 13 48 31 NILORN UK LTD Acre Park, Dalton Lane, Keighley, West Yorkshire, BD21 4JH, ENGLAND T: +44 1535 673 500 F: +44 1535 673 519 NILÖRN AB Alingsåsvägen 6, Box 499, 501 13 Borås, SWEDEN T: +46 33 700 88 00 F: +46 33 700 88 48 NILORN GERMANY GMBH Itterpark 7, 40724 Hilden, Germany T: +49 2103 908 16-0 F: +49 2103 908 16-99 NILORN INDIA PVT. LTD 6233, 3rd Floor, Block no. 6, Dev Nagar, Karol Bagh, New Delhi - 110005, INDIA T: +91 11 2575 2675 F: +91 11 2576 0230 NILORN BELGIUM NV Brusselsesteenweg 525, 9090 Melle, BELGIUM T: +32 9 210 40 90 F: +32 53 82 77 82 NILÖRN AB Alingsåsvägen 6, Box 499, 501 13 Borås, SWEDEN T: +46 33 700 88 00 F: +46 33 700 88 48 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Bilorngruppe N Ab |
2 |
100% |
|
Total |
2 |
100% |
Major Shareholder Information:
|
Name: |
Bilorngruppe N Ab |
|
Address: |
Alingsasvagen 6, Box 499, 503 13 Boras,
Sweden |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Af Wetterstedt Claes Anders Gustaf |
|
Address: |
Centigatan 5, S 507 43 Boras Sweden |
|
Position: |
Director |
|
Passport Number: |
63016046 |
|
Issuing Country: |
Sweden |
|
2 |
|
|
Name: |
Hoppe Andrew Peter Layall |
|
Address: |
Bay Horse Barn Cottage, Ravens View, Blleers
Road, Suttion-In-Craven, Keighley, Bd20 7ly, United Kingdom |
|
Position: |
Director |
|
Passport Number: |
505446717 |
|
Issuing Country: |
United Kingdom |
|
3 |
|
|
Name: |
Magnusson Krister Carl Magunus |
|
Address: |
Bondovagen 4, 435 39 Molnlycke Sweden |
|
Position: |
Director |
|
Passport Number: |
81671417 |
|
Issuing Country: |
Sweden |
|
4 |
|
|
Name: |
Fidelity Financial Consulting Limited |
|
Address: |
Suite D, 6/F, Ho Lee Commercial Building,
38-44 D’Aguilar Street, Central, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
736663 |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Unit 1701, Westley Square, 48 Hoi Yuen Road,
Kwun Tong, Kowloon, Hong Kong |
Premises
Information
Office address:
|
Address: |
Unit 1 On 17/F (Together With Air-Conditioning Platform(S) No(S). 17-1,17-2,17-5c) Westley Square No.48 Hoi Yuen Road Kowloon |
|
Owners: |
Century Profit Limited |
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
UB7728474 |
|
Date of Instrument: |
1999-3-17 |
|
Date of Registration: |
1999-4-10 |
|
Nature: |
Deed Of Mutual Covenant And Management
Agreement |
|
In Favor of: |
Sino Estates Management Limited "The
Manager" |
|
2 |
|
|
Memorial No.: |
UB7687916 |
|
Date of Instrument: |
1999-2-11 |
|
Date of Registration: |
1999-2-20 |
|
Nature: |
Certificate Of Compliance |
|
3 |
|
|
Memorial No.: |
UB7687915 |
|
Date of Instrument: |
1998-12-1 |
|
Date of Registration: |
1999-2-20 |
|
Nature: |
Occupation Permit No.Nk39/98 |
Production
Information
The subject is a trader of garment accessories
and etc without any production activities.
Purchase
Information
It is introduced that subject purchases its
products both at home and abroad.
Sales Information
The subject is mainly engaged in sales of
garment accessories and etc.
Subject’s major products are woven labels,
textile labels, hang tags, embossed labels, packaging, trims, care labels,
variable data/ris, security & anti-counterfeit and etc.
Subject’s selling territory includes Asia,
Europe, America and etc.
Subject’s major customers are manufacturers of
garment and etc.
Settlements
PURCHASE
Domestic Purchase
|
Products |
Garment accessories and etc. |
|
Payment Terms |
Cash, T/T and etc |
Import
|
Products |
Garment accessories and etc. |
|
Payment Terms |
L/C, T/T and etc |
SALES
Domestic Markets
|
Product |
Garment accessories and etc. |
|
Selling Terms |
Cash, T/T and etc |
Export
|
Product |
Garment accessories and etc. |
|
Selling Terms |
L/C, T/T and 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 Ms. Ng 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
|
Company Name: |
Nilorn East Asia Limited |
|
Instrument of Creating Mortgage: |
SECURITY OVER DEPOSITS WITH THE BANK
(Liinited Companv - Under Hand) |
|
Date of Creating Mortgage: |
2007-9-5 |
|
Amount Secured: |
To secure 'all monies’ in respect of banking
facilities owing at any time plus interest and all expenses. |
|
Name and Address of Mortgagee: |
The Hongkong and Shanghai Banking
Corporation Limited whose head office is situated at No.l Queen’s Road Central,
Hong Kong. |
|
Description of Property Mortgaged: |
Initially HKD 60,000.- and all monies
whether now or hereafter standing to the credit of the Company’s deposit with
the Bank under deposit number 500-775408-838 and whatever currency it may
subsequaitly be denominated in, any renewal of such deposit & the
interest thereon together with any further moneys in any deposit account with
the Bank at any of its offices. |
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 |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Name |
Ms. Ng |
Industry
Information
65621--Labels, badges and similar articles of textile materials, woven,
in the piece, in strips or cut to shape or size, not embroidered (kg)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Australia |
34 |
12 |
627 |
290 |
|
Belgium |
73 |
24 |
1,868 |
1,060 |
|
Canada |
109 |
11 |
6,308 |
840 |
|
Switzerland |
73 |
43 |
2,129 |
1,028 |
|
The Mainland of China |
326,543 |
78,498 |
4,136,354 |
686,547 |
|
Germany |
1,138 |
966 |
1,138 |
18,268 |
|
India |
1,075 |
353 |
14,729 |
4,744 |
|
Italy |
10,214 |
6,522 |
72,007 |
65,387 |
|
Exports |
||||
|
United Arab Emirates |
54 |
11 |
759 |
337 |
|
Australia |
132 |
45 |
2,193 |
708 |
|
Bulgaria |
48 |
18 |
734 |
201 |
|
Canada |
685 |
254 |
254 |
2,514 |
|
Switzerland |
131 |
45 |
393 |
130 |
|
The Mainland of China |
38,731 |
4,329 |
562,661 |
59,687 |
|
Germany |
140 |
109 |
4,226 |
1,688 |
|
Denmark |
838 |
216 |
18,740 |
4,036 |
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 |
|
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 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
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 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Unit 1701, Westley Square, 48 Hoi Yuen Road,
Kwun Tong, Kowloon, Hong Kong
Unit 1701, Westley Square, 48 Hoi Yuen Road,
Kwun Tong, Kowloon, Hong Kong
Unit 1701, Westley Square, 48 Hoi Yuen Road,
Kwun Tong, Kowloon, Hong Kong
Unit 1701, Westley Square, 48 Hoi Yuen Road,
Kwun Tong, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.92 |
|
|
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.