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Report No. : |
353184 |
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Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
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Name : |
A-TEX ASIA LTD. |
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Registered Office : |
Unit B, 8/F., Roxy Industrial Centre, 58-66 Tai Lin Pai Road, Kwai Chung, New Territories |
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Country : |
Hong Kong
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Date of Incorporation : |
12.04.2000 |
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Com. Reg. No.: |
30850869 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Woven Label, Zipper, Hang Tag. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
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 |
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 |
A-TEX ASIA LTD.
ADDRESS: Unit B, 8/F., Roxy Industrial
Centre, 58-66 Tai Lin Pai Road, Kwai Chung, New
Territories, Hong Kong.
PHONE: 852-2866
4828
FAX: 852-2865
5428
E-MAIL: poul@a-tex.com
Managing Director: Ms. Kong Shui Yau, Miranda
Incorporated on: 12th April, 2000.
Organization: Private Limited Company.
Issued Share Capital: HK$2.00
Business Category: Textile
Product Trader.
Employees: 20.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
Registered Head
Office:-
Unit B, 8/F., Roxy Industrial Centre, 58-66 Tai Lin Pai Road, Kwai
Chung, New Territories, Hong Kong.
Holding Company:-
A-Tex A/S, Denmark.
Associated
Companies:-
A-Tex (India) Pvt. Ltd., India.
A-Tex Branding Ltd., United Kingdom.
A-Tex Design (India) Pvt. Ltd., India. (Striking Off)
A-Tex Germany GmbH, Germany.
A-Tex International Ltd., Bangladesh.
A-Tex International Trading (Shanghai) Co. Ltd., China.
A-Tex Netherlands B.V., Netherlands.
A-Tex S.R.L., Italy.
A-Tex Sweden AB, Sweden.
A-Tex Tekstil Tic. Ltd. ti., Turkey.
A-Tex Trading (Dongguan) Co. Ltd., China.
A-Tex US Inc., USA.
30850869
0712387
Managing Director: Ms. Kong Shui
Yau, Miranda
HK$2.00
(As per registry dated 12-04-2015)
|
Name |
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No. of shares |
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A-Tex A/S Rosenholmvg 1-5, DK-7400 Herning, Denmark. |
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2 = |
(As per registry dated 27-08-2015)
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Name (Nationality) |
Address |
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WAN Chuk Kwan |
Flat B, 26/F., Tower 5, Manhattan Hill, 1 Po Lun Street, Kowloon, Hong
Kong. |
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KONG Shui Yau, Miranda |
House 10, King’s park Hill, 10 King’s Park Hill Road, Kowloon, Hong
Kong. |
|
Florian Rolf MARQUIS |
21 Leonie Hill, #07-01 Singapore 239223. |
(As per registry dated 27-08-2015)
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Name |
Address |
Co. No. |
|
Vistra Secretaries Ltd. |
Suite 5501, 55/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. |
1297335 |
The subject was incorporated on 12th April, 2000 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at 26/F., Ryoden Industrial Centre,
26-38 Ta Chuen Ping Street, Kwai Chung, New Territories,
Hong Kong, moved to the present address in July 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter.
Lines: Woven
label, zipper, hang tag.
Employees: 20.
Commodities Imported: Europe,
China and other Asian countries.
Markets: Southeast
Asia, Denmark and other European countries.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, D/P.
Danish Chamber of Commerce Hong Kong, Hong Kong.
Issued Share Capital: HK$2.00
Indebtedness: HK$17,969,960.16 (Total
amount outstanding on all mortgages and charges as
per last Annual
Return dated 12-04-2015)
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a
satisfactory manner.
Facilities: Making active
use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hong Kong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Good.
Having issued 2 ordinary shares of HK$1.00 each, A-Tex Asia Ltd.
formerly was equally owned by A-Tex A/S [A-Tex], a Denmark-based firm, and
Mr. Bent Fogh Povlsen, a Danish merchant.
Now, the latter has transferred his single share to A-Tex which is the
current shareholder.
All the directors of the subject were newly appointed on 28th August,
2015.
A-Tex was established in 1991 by Bent Povlsen. Now, it has logistic offices in 6
countries. It has got subsidiaries in
Turkey, India, Bangladesh, China, Denmark, besides the subject in Hong Kong.
A-Tex has set up sales offices in Denmark, Germany, Italy, the United
Kingdom, the Netherlands, Sweden and the United States.
A-Tex is a leading company in Denmark, supplying various kinds of
accessories for the garment industry.
However, it is specialised on labelling and hangtags. The subject is a buying office in Hong Kong.
Currently, the subject is manufacturing and trading in the following
commodities and offering clients with the following services:-
|
Product/Service |
Product/Service
Remarks |
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Clothing Accessories |
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Labels for Garment |
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Hang Tag and Printed Label For Garment |
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Woven Label |
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Haberdashery |
Garment Accessories |
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Zipper |
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Giftware and Premiums |
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Souvenirs and Premiums |
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Advertising Premium |
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The subsidiary of A-Tex in India is known as A-Tex Design (India) Pvt.
Ltd.
A-Tex has got a number of clients such as Hugo Boss, Lee, Levis, Toyota,
Puma, Dkny, O’Neil, Tommy Hilfiger.
A-Tex has a factory in Dongguan City, Guangdong Province, China known as
A-Tex Trading (Dongguan) Co. Ltd. [Dongguan A-Tex]. Dongguan A-Tex is engaged in manufacturing
trimmings for the textile industry. It
is manufacturing labels, hangtags and stickers.
Besides, the associated company of A-Tex in Shanghai, China is known as
A-Tex International Trading (Shanghai) Co. Ltd. [Shanghai A-Tex]. Currently, Shanghai A-Tex has about 40
employees.
At present, A-Tex Group has about 300 employees worldwide.
The principal markets of the subject are Europe and Southeast Asia.
The business of A-Tex is rather active and profitable.
The subject is fully supported by A-Tex.
History in Hong Kong is over fifteen years and five months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
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|
1 |
Rs.99.61 |
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Euro |
1 |
Rs.70.67 |
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HKD |
1 |
Rs.8.64 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.