MIRA INFORM REPORT
|
Report No. : |
353185 |
|
Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
CLOSE TO CLOTHES (ASIA PACIFIC) LIMITED |
|
|
|
|
Registered Office : |
12/F, Arion Commercial Centre, Suite 1206, 2
Queen’S Road, West, Shueng Wan |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
31.08.2010 |
|
|
|
|
Com. Reg. No.: |
52880793 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of Labels. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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) |
|
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 12.5% 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 |
Contact Points
|
Company Name: |
Close To Clothes (Asia Pacific) Limited |
|
Supplied Name: |
CLOSE TO CLOTHES ASIA PACIFIC LIMITED |
|
Trading Address: |
12/F, Arion Commercial Centre, Suite 1206, 2
Queen’S Road, West, Shueng Wan, Hong Kong |
|
Supplied Address: |
12/F, Arion Commercial Centre, Suite 1206, 2 Queen's Road West, Sheung
Wan, Hong Kong |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
12/F, Arion
Commercial Centre, Suite 1206, 2 Queen’S Road, West, Shueng Wan, Hong Kong |
|
Telephone Number: |
+852-3621-0388 |
|
Fax Number: |
+852-2758-5199 |
|
Date of Registration: |
2010-8-31 |
|
Registered Number: |
1499467 |
|
Business Registration No.: |
52880793 |
|
Paid-up Capital: |
HKD1,000 (USD 129) = 1,000 Shares@ HKD 1 (As of 2015.12, 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 labels. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-8-31 |
Notes: Subject declined
to disclose its staff number; from other source we cannot obtain the relevant information,
either.
History
Subject was incorporated on 2010-8-31 with the
registered number 1499467 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Parent Company
|
Name: |
Close To Clothes |
|
Address: |
5 Rue De La Banque, 2 Galerie Vivenne, 75002
Paris, France |
|
Tel: |
+33 (0)1 42 96 00 92 |
|
Fax: |
+33 (0)1 49 27 01 56 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Close To Clothes |
1,000 |
100% |
|
Total |
1,000 |
100% |
Major Shareholder Information:
|
Name: |
Close To Clothes |
|
Address: |
5 Rue De La Banque, 2 Galerie Vivenne, 75002
Paris, France |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Ayache Jeremy |
|
Address: |
Co Cabinet Bailly, 4 Rue Saint-Joseph,
75002, Paris, France |
|
Position: |
Director |
|
Passport Number: |
06BA51539 |
|
Issuing Country: |
France |
|
2 |
|
|
Name: |
CJ Group Corporate Services Limited |
|
Address: |
2/F, Shui Yee Factory Building, 15 Ash
Street, Tai Kok Tsui, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
1481813 |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
12/F, Arion Commercial Centre, Suite 1206, 2
Queen’S Road, West, Shueng Wan, Hong Kong |
Premises Information
Office address:
|
Address: |
Office Unit No.6 On 12/F Arion Commercial Centre Nos.2-12 Queen's Road West Hong Kong |
|
Owners: |
Han Ting Group Hong Kong Limited |
|
Memorial Number: |
12070600310188 Certified Copy Certificate Of Change Of Name |
|
Date of Instrument: |
2009-11-25 |
|
Date of Registration: |
2012-6-7 |
Production Information
The subject is a trader of labels and etc
without any production activities.
It is introduced that subject’s group has
factory in France for production.
Purchase Information
It is introduced that subject imports its
products mainly from the factory of its group in France.
Sales Information
The subject is mainly engaged in sales of
labels and etc.
Subject’s major products include paper label,
fabric label, leather label and etc.
Subject’s selling territory includes Asia
Pacific region and etc.
Subject’s major customers are manufacturers of
apparels, bags, and related accessories, etc.
Settlements
Purchase
Domestic Purchase
It is introduced that subject has little
domestic purchases.
Import
|
Products |
Labels and etc. |
|
Payment Terms |
L/C, T/T and etc |
Sales
Domestic Markets
|
Product |
Labels and etc. |
|
Selling Terms |
Cash, T/T and etc |
Export
|
Product |
Labels 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 Mr. Law
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
No mortgage of the subject were found.
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 |
Mr. Law |
|
Department: |
Sales Department |
|
E-mail: |
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
|
|
2015.06 |
2015.01~2015.06 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
2 |
1 |
154 |
8 |
|
Germany |
634 |
330 |
7,996 |
5,807 |
|
5,963 |
1,296 |
32,132 |
6,231 |
|
|
Australia |
30 |
23 |
45 |
37 |
|
Italy |
9,741 |
4,476 |
53,250 |
30,633 |
|
Malaysia |
1,240 |
249 |
21,933 |
3,590 |
|
Taiwan |
2,319 |
820 |
19,617 |
5,733 |
|
Chile |
5,093 |
3,404 |
39,465 |
25,447 |
|
The Mainland of China |
293,492 |
61,080 |
2,015,175 |
463,485 |
|
Exports |
||||
|
United Arab Emirates |
58 |
35 |
494 |
285 |
|
Britain |
1,486 |
532 |
9,452 |
3,451 |
|
Indonesia |
2,383 |
1,493 |
19,201 |
8,602 |
|
India |
2,321 |
1,101 |
18,088 |
8,261 |
|
Italy |
132 |
125 |
1,591 |
968 |
|
Cambodia |
1,526 |
822 |
14,721 |
6,973 |
|
Pakistan |
2,956 |
923 |
14,897 |
4,842 |
|
Vietnam |
6,682 |
3,269 |
60,165 |
27,540 |
|
39,291 |
3,893 |
249,067 |
25,965 |
|
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 |
|
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 |
|
2015.01 |
348,886 |
4,468 |
307,403 |
311,871 |
+2.8 |
-37,015 |
|
2015.02 |
264,220 |
2,919 |
225,418 |
228,337 |
+7.2 |
-35,884 |
|
2015.03 |
342,319 |
4,013 |
292,100 |
296,113 |
-1.8 |
-46,206 |
|
2015.04 |
331,108 |
4,202 |
287,742 |
291,944 |
+2.2 |
-39,164 |
|
2015.05 |
331,940 |
4,258 |
287,571 |
291,830 |
-4.6 |
-40,110 |
|
2015.06 |
345,302 |
4,158 |
295,361 |
299,518 |
-3.1 |
-45,783 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
We made an on-site visit to the supplied address, and confirmed the subject
was on this location. However, the subject did not have its own name plate on
the wall.
12/F, Arion Commercial Centre, Suite 1206, 2
Queen’S Road, West, Shueng Wan, Hong Kong
%20LIMITED%20-%20353185%2009-Dec-2015_files/image012.jpg)
12/F, Arion Commercial Centre, Suite 1206, 2
Queen’S Road, West, Shueng Wan, Hong Kong
%20LIMITED%20-%20353185%2009-Dec-2015_files/image013.jpg)
12/F, Arion Commercial Centre, Suite 1206, 2
Queen’S Road, West, Shueng Wan, Hong Kong
%20LIMITED%20-%20353185%2009-Dec-2015_files/image014.jpg)
12/F, Arion Commercial Centre, Suite 1206, 2
Queen’S Road, West, Shueng Wan, Hong Kong
%20LIMITED%20-%20353185%2009-Dec-2015_files/image015.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.80 |
|
|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.72.52 |
|
HKD |
1 |
Rs.8.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.