MIRA INFORM REPORT
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Report No. : |
353186 |
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Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
DORLET CHINA LIMITED |
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|
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Registered Office : |
Flat C, 4/F, Hop Hing Industrial
Building, No. 704 Castle Peak Road, Cheung Sha Wan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
26.04.2006 |
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Com. Reg. No.: |
36683818 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Clothing Accessories. |
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No. of Employees : |
About 5 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
Contact Points
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Company Name (in English): |
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|
Supplied Name: |
Dorlet China Ltd., |
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Trading Address: |
Flat C, 4/F, Hop Hing Industrial Building,
No. 704 Castle Peak Road, Cheung Sha Wan, Kowloon, Hong Kong |
|
Supplied Address: |
Flat C, 4/F Hop Hing Ind. Building, 704,
Castle Peak Road, Cheung Sha Wan, Kowloon, HongKong. |
Note: The exact name and address are as above.
Company Identification Details
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Registered Name: |
|
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Registered Address: |
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Telephone Number: |
+852-2836-3438 |
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Fax Number: |
+852-2836-3418 |
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Date of Registration: |
2006-4-26 |
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Registered Number: |
1040782 |
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Business Registration No.: |
36683818 |
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Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2015.12, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares @ HKD
1 |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
84619--Other clothing accessories and parts,
not for babies, not knitted or crocheted (kg) |
|
Principal Activities: |
Trading of clothing accessories |
|
Staff: |
About 5 employees |
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Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-4-26 |
Note: Subject
declined to disclose its staff number; we obtained the relevant
information from public files.
History
Subject was incorporated on 2006-4-26 with the
registered number 1040782 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
2006-6-1 |
Dorlet China Limited |
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|
|
|
2006-4-26 |
Dorlet China Limited |
Corporate Structure
Subject did not register
any subsidiaries or branches, from other source we can not obtain the relevant information,
either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
VBT Participation |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder Information:
|
Name: |
VBT Participation |
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Address: |
Z.I. 9 Avenue de 1'Epinette-BP41, 77102
Meaux Cedex, France |
Management Information
Core Management
Detailed Information of Directors:
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1 |
|
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Name: |
Greuzat Jean-Francois |
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Address: |
Z.I 9 Avenue de I’epinette-BP41, 77102 Meaux
Cedex France |
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Position: |
Director |
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Passport Number: |
04FI52853 |
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Issuing Country: |
France |
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2 |
|
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Name: |
Greuzat Thibault |
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Address: |
20 Avenue Anatole France 2 Eme Etage Droite
94220 Charenton Le Pont |
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Position: |
Director |
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Passport Number: |
03VH23003 |
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Issuing Country: |
France |
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3 |
|
|
Name: |
Harris Secretaries Limited |
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Address: |
8/F., Hong Kong Trade Central, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
31138 |
Personnel Structure
|
Total Employees |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Flat C, 4/F, Hop Hing Industrial Building,
No. 704 Castle Peak Road, Cheung Sha Wan, Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
Workshop C On 4th Floor And A, Portion Of
The Flat Roof Thereof, Hop Hing Industrial Building, No.704 Castle Peak Road
Kowloon |
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Owners: |
Giacomo Hugo Company Limited |
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Memorial Number: |
UB3492287 |
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Date of Instrument: |
1987-8-22 |
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Date of Registration: |
1987-9-15 |
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Consideration Value: |
HKD 1,720,000.00 |
Production Information
Subject is a trader of clothing
accessories without any production activities.
Purchase Information
It is introduced that subject’s products are mostly purchased
from cooperative factories in Mainland China.
Sales Information
Subject is engaged in sale of clothing
accessories.
Subject’s products are all kinds of buttons, etc.
Subject’s sales regions mainly focus on North America and
Western Europe, etc.
Subject’s major types of customers are manufacturers of
garment, retailers of clothing accessories, etc.
One of subject’s customers is Warehouse Jeans De Mexico S.A. De C
Settlements
Purchase
Domestic Purchase
|
Products |
Clothing accessories |
|
Payment Terms |
T/T, Cash, etc. |
Import
Subject has little import.
Domestic Markets
|
Product |
Clothing accessories |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Clothing accessories |
|
Selling Terms |
L/C, T/T, 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 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 record of subject was 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 |
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High Court Commercial Action: |
Clear |
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High Court Construction &
Arbitration Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Special Note
Interview Details
|
Name |
Ms. Yan |
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Department: |
Sales Department |
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Email: |
Industry Information
84619--Other clothing accessories and parts,
not for babies, not knitted or crocheted (kg)
Unit: HKD/000
|
|
2015.06 |
2015.01~2015.06 |
||
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|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
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United Arab Emirates |
|
|
|
|
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Netherlands |
202 |
89 |
206 |
90 |
|
1,441 |
2,615 |
6,976 |
13,777 |
|
|
Korea |
4,563 |
559 |
7,235 |
1,464 |
|
America |
2,834 |
3,549 |
4,233 |
4,542 |
|
Spain |
186 |
47 |
9,080 |
1,601 |
|
Germany |
349 |
127 |
1,172 |
1,097 |
|
Vietnam |
869 |
152 |
1,748 |
452 |
|
Japan |
780 |
374 |
4,210 |
1,265 |
|
Taiwan |
269 |
50 |
2,762 |
865 |
|
The Mainland of China |
119,219 |
18,522 |
838,547 |
123,837 |
|
Exports |
||||
|
United Arab Emirates |
|
|
|
|
|
Indonesia |
1,902 |
221 |
9,416 |
1,035 |
|
992 |
154 |
3,953 |
624 |
|
|
Egypt |
848 |
187 |
848 |
187 |
|
Cambodia |
162 |
24 |
987 |
174 |
|
Sri Lanka |
384 |
47 |
2,547 |
293 |
|
Morocco |
330 |
98 |
330 |
98 |
|
America |
1,187 |
269 |
2,930 |
681 |
|
Vietnam |
3,065
|
390 |
19,562 |
2,346 |
|
The Mainland of China |
850 |
53 |
7,416 |
671 |
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
Hop Hing Industrial Building, No. 704 Castle
Peak Road, Cheung Sha Wan, Kowloon, Hong Kong
Hop Hing Industrial Building, No. 704 Castle
Peak Road, Cheung Sha Wan, Kowloon, Hong Kong
Hop Hing Industrial Building, No. 704 Castle
Peak Road, Cheung Sha Wan, Kowloon, Hong Kong
Flat C, 4/F, Hop Hing Industrial Building, No.
704 Castle Peak Road, Cheung Sha Wan, Kowloon, Hong Kong
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 |
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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.