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Report No. : |
352579 |
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Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
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Name : |
KWAN TAT
INDUSTRIAL LTD. |
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Registered Office : |
Room 1108, 11/F., Shatin Galleria, 18-24 Shan Mei Street, Fotan,
Shatin, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.12.1995 |
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Com. Reg. No.: |
19551561 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer & exporter of all kinds of screen printed, embossed,
embroidered and flocked labels, patches, hangtags and badges for the garment
industry, from textile fabrics, paper and rubber. |
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No. of Employee : |
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.
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Source
: CIA |
KWAN
TAT INDUSTRIAL LTD.
Room 1108, 11/F., Shatin
Galleria, 18-24 Shan Mei Street, Fotan, Shatin, New Territories, Hong Kong.
PHONE: 852-2695 0178, 3142 1111
FAX: 852-2602 5316
E-MAIL: info@kwantatgroup.com
Managing
Director: Mr. Wong Hon Chiu, Eric
Incorporated
on: 19th
December, 1995.
Organization: Private
Limited Company.
Issued Share
Capital: HK$3,000,000.00
Business Category:
Manufacturer of Hang Tag & Printed Label for Garment.
Employees: 20.
(Hong Kong)
Main Dealing
Banker: Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
Banking
Relation: Satisfactory.
China Factory:-
Dongguan Kunhui
Color Printing Co. Ltd.
Mingzhu Central
Road, Shui Nan Industrial District, Shijie Town, Dongguan City, Guangdong
Province, China.
Associated/Affiliated Companies:-
Kwan Tat Group of
Companies
Candle Corp. Ltd.,
Hong Kong.
Fortune Hall
International Ltd., Hong Kong.
[Dissolved]
KT Investment
Consultants Ltd., Hong Kong. [Dissolved]
KT Trinitron Media
Ltd., Hong Kong. [Dissolved]
Kwan Tat
(Shanghai) Ltd., Hong Kong. [Dissolved]
Kwan Tat Holding
Ltd., Hong Kong.
Kwan Tat
International Ltd., Hong Kong.
Kwan Tat
Investment Ltd., Hong Kong. (Dissolved)
Kwan Tat Labels
Printing Co. Ltd., Hong Kong.
[Dissolved]
Kwan Tat Screen
Printing Co. Ltd., Hong Kong.
[Dissolved]
Kwan Tat Vietnam
Industry Co. Ltd., Vietnam.
Lion Printing Co.
Ltd., Thailand.
PKT Kwan Tat
(Thailand) Co., Thailand.
Quintet
Manufactory Ltd., Hong Kong. [Dissolved]
Royal Shining
Ltd., Hong Kong.
V. Tick Industrial
Co. Ltd., Hong Kong. [Dissolved]
19551561
0533902
Managing
Director: Mr. Wong Hon Chiu, Eric
HK$3,000,000.00
(As
per registry dated 19-12-2014)
|
Name |
|
No.
of shares |
|
WONG
Hon Chiu |
|
2,250,000 |
|
WONG Hon Shuen |
|
750,000 |
|
|
|
–––––––– |
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Total: |
3,000,000 ======= |
(As
per registry dated 19-12-2014)
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Name (Nationality) |
Address |
|
WONG Hon Shuen |
Flat 7, 8/F., Block C, Tsui Lun House, Siu
Lun Court, Tuen Mun, New Territories, Hong Kong. |
|
WONG Hon Chiu |
Flat E, 32/F., Block 2, Royal Ascot, 1
Tsun King Road, Shatin, New Territories, Hong Kong. |
(As
per registry dated 19-12-2014)
|
Name |
Address |
Co.
No. |
|
Fit-Feet
Secretarial Co. Ltd. |
18/F., S.B. Commercial Building, 478 Nathan Road, Kowloon,
Hong Kong. |
0129773 |
The
subject was incorporated on 19th December, 1995 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: Manufacturer & Exporter.
Lines: All kinds of screen
printed, embossed, embroidered and flocked labels, patches, hangtags and badges
for the garment industry, from textile fabrics, paper and rubber.
Employees: 20.
(Hong Kong)
Over 2,500. (Worldwide)
Commodities
Imported: Bought materials from local
suppliers through various sources.
Markets: China, Europe, North America,
Japan, Korea, Taiwan, and Australia, etc.
Terms/Sales: COD
or as per contracted.
Terms/Buying: L/C,
T/T, O/A, etc.
Malaysian Knitting
Manufacturers Association, Malaysia.
Issued Share
Capital: HK$3,000,000.00
Mortgage or
Charge: (See
attachment)
Profit or Loss:
Operation is profitable.
Condition: Keeping in a steady manner.
Facilities: Making active use of general banking
facilities.
Payment: So
far so good.
Commercial
Morality: Satisfactory.
Bankers:-
Standard Chartered
Bank (Hong Kong) Ltd., Hong Kong.
Industrial & Commercial
Bank of China (Asia) Ltd., Hong Kong.
Standing: Normal.
Kwan
Tat Industrial Ltd. [KTIL] was incorporated in Hong Kong on 19th December,
1995. With a nominal and issued capital
of HK$3 million, the company is jointly owned by Mr. Wong Hon Chiu, holding 75%
stake, and Mr. Wong Hon Shuen, holding 25%.
KTIL
is engaged in the design, manufacture and export of various kinds of screen
printed, embossed, embroidered and flocked labels, patches, hangtags and badges
for the garment industry, from textile fabrics, paper and rubber.
Since
its incorporation, KTIL has been supplying quality labels, handtags, badges and
patches to major garment manufacturers, based upon conventional manufacturing
processes and techniques. It has
developed its own skills and technology in flocking, thermal transfer and
silicon-injections. Its heat transfer
papers are multi-coloured, reflective, glittering and shinning. Most of all, they can apply to all kinds of
materials, nylon, spandex, lycra, leather and synthetic leather and even
elastic textures.
Presently,
it has 3 wholly-owned factories in Dongguan City with a total area of about
200,000 sq.ft. and a total workforce of over 1,200. KTIL becomes the leader in the industry who
can supply a wide range of labels, badges and hangtags in the garment industry.
The
factory of KTIL in Dongguan City is known as Dongguan Kunhui Color Printing Co.
Ltd.
Besides,
KTIL has set up facilities and offices in Hong Kong, China, Thailand and
Vietnam.
The
Group has employed about 2,500 workers worldwide serving the world’s renowned
brands such as Adidas-Salomon, A/X, DKNY, Diesel, Disney, Esprit, Tommy
Hilfiger, Giordano, Polo Ralph Lauren, Puma, Levi’s, Liz Claiborne, Nautica,
Nike, Kickers, QuickSilver, Speedo, Spider, Texwood, FILA, Mexx, Ecko, Urban
Stone, Debenhams, etc.
Every
year, KTIL invests about HK$3 million in its R&D department in order to
keep abreast with the times and the demand of worldwide customers.
The
business of KTIL is maintained in a steady manner. No derogatory information about it has been
found. History in Hong Kong is about 20
years. On the whole, consider it good
for normal business engagements.
Property
information of affiliate:-
Property Location:
Flat E on 32/F. of Block 2, Royal Ascot, No. 1 Tsun King Road, Shatin, New
Territories, Hong Kong.
Owner: Royal Shining Ltd.
Date of
Purchase: 28-07-2000
Purchased
Price: HK$8,150,000
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
24-04-2006 |
- |
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong. |
Mortgage |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
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Euro |
1 |
Rs.73.05 |
|
HKD |
1 |
Rs. 8.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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.