MIRA INFORM REPORT

 

 

Report No. :

335569

Report Date :

11.08.2015

 

IDENTIFICATION DETAILS

 

Name :

DI ROMA FASHION SPECIALIST LTD.

 

 

Registered Office :

Room 2204, 22/F., Melbourne Plaza, 33 Queen’s Road Central

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

21.08.1981

 

 

Com. Reg. No.:

07495175

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer and Wholesaler of All kinds of fashions.

 

 

No. of Employee :

6.

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 12.5% of total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.

 

Source : CIA

 

 

 

Company name and address

 

DI ROMA FASHION SPECIALIST LTD.

 

 

ADDRESS:       Room 2204, 22/F., Melbourne Plaza, 33 Queen’s Road Central, Hong Kong.

 

PHONE:            852-2522 5818,  2526 6524

 

FAX:                 852-2522 5010,  2845 1757

 

E-MAIL:            diroma@netvigator.com

 

 

MANAGEMENT

 

Managing Directress:  Ms. Chin Po Man, Ivy

 

 

SUMMARY

 

Incorporated on:            21st August, 1981.

 

Organization:                  Private Limited Company.

 

Issued Share Capital:     HK$10,000.00

 

Business Category:       Fashion Trader.

 

Employees:                  6.

 

Main Dealing Banker:     Standard Chartered Bank, Hong Kong Branch.

 

Banking Relation:          Satisfactory.

 

 

ADDRESS

 

Registered Head Office:-

Room 2204, 22/F., Melbourne Plaza, 33 Queen’s Road Central, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

07495175

 

 

COMPANY FILE NUMBER

 

0101902

 

 

MANAGEMENT

 

Managing Directress:  Ms. Chin Po Man, Ivy

 

 

ISSUED SHARE CAPITAL

 

HK$10,000.00

 

 

SHAREHOLDERS

 

(As per registry dated 21-08-2014)

Name

Occupation

No. of shares

CHIN Po Man, Ivy

Merchant

9,990

KAR Shi Ping, Alexander

Merchant

10

 

 

––––––

 

Total:

10,000

=====

 

 

DIRECTORS

 

(As per registry dated 21-08-2014)

Name

(Nationality)

 

Address

CHIN Po Man, Ivy

            (British)

15A, Manhattan Tower, 63 Repulse Bay Road, Hong Kong.

 

KAR Shi Ping, Alexander

            (British)

15A, Manhattan Tower, 63 Repulse Bay Road, Hong Kong.

 

SECRETARY

 

KAR Shi Ping, Alexander  (As per registry dated 21-08-2014)

 

 

HISTORY

 

The subject was incorporated on 21st August, 1981 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.

 

 

OPERATIONS

 

Activities:                      Importer and Wholesaler.

 

Lines:                           All kinds of fashions.

 

Employees:                  6.

 

Commodities Imported: Mainly imported from Italy, France and other European countries.

 

Market:                         Hong Kong, other Asian countries

 

Terms/Sales:                 COD or as per contracted.

 

Terms/Buying:                L/C, T/T, D/P, O/A

 

 

FINANCIAL INFORMATION

 

Issued Share Capital: HK$10,000.00

 

Mortgage or Charge:-

Date of Mortgage:  04-11-1999

Amount:            To secure for the discharge of the Obligations

Property:          By way of set-off:  The Company authorises the Lender to apply any credit balance to which the Company is at any time beneficially entitled on any account at any office of the Lender in Hong Kong and elsewhere and set-off any liabilities of the Lender to the Company or Beauty Hope Industrial Ltd. which are due or to become due in or towards satisfaction of all or any of the Obligations

Mortgagee:       Standard Chartered Bank, Hong Kong Branch.

 

Profit or Loss:               Making a small profitable every year.

 

Condition:                     Keeping in an active state.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Standard Chartered Bank, Hong Kong Branch.

 

Standing:                      Normal.

 

 

GENERAL

 

Di Roma Fashion Specialist Ltd. is a private limited company principally owned by Ms. Ivy Chin Po Man.  Her husband Mr. Kar Shi-Ping is a minor shareholder.

 

Being Hong Kong merchants, both are also directors of the subject.

 

The subject is a fashion trader.  It trades in ladies’ wear, children’s wear as well as skin care products.

Commodities, claimed to be high-end, are imported from Italy, France and the other European countries.  Italy is one of its main supplying countries.  Imported commodities are wholesaled in Hong Kong, China and Macau, and re-exported to the other Asian countries.  Main buyers are boutiques and retail outlets. 

 

Business has been active and profitable.

 

Ms. Chin always travels to Europe to acquire fashions with the latest styles and designs.

 

The subject’s business is jointly managed by Ms. Chin & Mr. Alexander Kar Shi-Ping.

 

Incorporated in August 1981, the subject has developed long term business ties with a number of local buyers and foreign suppliers.  It also has maintained a number of regular customers.

 

 

The business of the subject is active.  History in Hong Kong is about 34 years.

 

On the whole, in view of the subject’s history, consider it good for normal business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.76

UK Pound

1

Rs.98.76

Euro

1

Rs.69.88

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

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