MIRA INFORM REPORT
|
Report No. : |
352584 |
|
Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAX TRADE LIMITED |
|
|
|
|
Registered Office : |
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun
Tong |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
07.12.1995 |
|
|
|
|
Com. Reg. No.: |
533254 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of garment, garment accessories |
|
|
|
|
No. of Employee : |
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) |
|
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 |
Contact
Points
|
Company Name (in
Chinese): |
|
|
Company Name (in
English): |
|
|
Supplied Name: |
MAX TRADE
LIMITED |
|
Trading Address: |
Unit A, 9/F., Fu
Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
|
Supplied
Address: |
UNIT A, 9/F, FU HOP
FACTORY BUILDING, 209-211 WAR YIP ST., KWUN TONG, HONG KONG |
Note: The exact
name and address are as above.
Company
Identification Details
|
MAX TRADE
LIMITED |
|
|
Registered Address: |
Unit A, 9/F., Fu
Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
|
Telephone Number: |
+852-2759-2097 |
|
Fax Number: |
+852-2759-4817 |
|
E-mail: |
|
|
Date of Registration: |
1995-12-7 |
|
Registered Number: |
533254 |
|
Business Registration No.: |
19571868 |
|
Registered Capital: |
HKD 250,000 (USD 32,250) (As of 2015.12, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 250,000 (USD 32,250) = 250,000 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 garment, garment accessories. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-12-7 |
Notes: The subject declined to disclose the number of staff, and from other source
we cannot obtain the information, either.
History
Subject was incorporated on 1995-12-7 with the registered number 533254
as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not introduce whether it has any subsidiaries
or branches, from other source we can not obtain the relevant information,
either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Dhananjay Malhotra |
122,500 |
49% |
|
Mamta Malhotra |
127,500 |
51% |
|
Total |
250,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Dhananjay Malhotra |
|
Address: |
Unit A, 9/F., Fu
Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
|
2 |
|
|
Name: |
Mamta Malhotra |
|
Address: |
Unit A, 9/F., Fu
Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
Management
Information
Core
Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Dhananjay Malhotra |
|
Address: |
Unit A, 9/F., Fu
Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
|
Position: |
Director & Secretary |
|
ID Number: |
K929063(A) |
|
2 |
|
|
Name: |
Mamta Malhotra |
|
Address: |
Unit A, 9/F., Fu
Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong |
|
Position: |
Director |
|
ID Number: |
P236006(7) |
Operation
Information
Offices
& Factories
|
|
Office |
|
Address: |
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai
Yip Street, Kwun Tong, Hong Kong |
Premises
Information
Office address:
|
Address: |
Flat A On 9th Floor Fu Hop Factory Building Nos.209 & 211 Wai Yip Street Kowloon |
|
Owners: |
Max Trade Limited |
|
Memorial Number: |
06040101110519 Assignment |
|
Date of Instrument: |
2006-3-8 |
|
Date of Registration: |
2006-4-1 |
|
Consideration Value: |
HKD 2,010,000.00 |
History
of Premises Owners’
|
1 |
|
|
Memorial No.: |
13122300930115 |
|
Date of Instrument: |
2013-2-7 |
|
Date of Registration: |
2013-12-23 |
|
Nature: |
Order No. UBCS/06-31/0013/10 By The Building Authority Under S. 24(1)
of the Buildings Ord. With Plan |
|
2 |
|
|
Memorial No.: |
12051102770109 |
|
Date of Instrument: |
2012-5-2 |
|
Date of Registration: |
2012-5-11 |
|
Nature: |
Mortgage |
|
In Favor of: |
The Hongkong And Shanghai Banking Corporation Limited |
|
Consideration: |
All Monies |
|
3 |
|
|
Memorial No.: |
06022300420013 |
|
Date of Instrument: |
2006-1-25 |
|
Date of Registration: |
2006-2-23 |
|
Nature: |
Provisional Agreement For Sale And Purchase |
|
In Favor of: |
Max Trade Limited |
|
Consideration: |
HKD 2,010,000.00 |
Production
Information
l The subject is a trader of garment and garment accessories and etc.
l It is introduced that subject’s has a related factory in Bangladesh for
production, but we cannot obtain the detail information.
Purchase
Information
l Subject purchases its products both at home and abroad.
l It is introduced that subject’s some products are purchased from its
related factory in Bangladesh.
Sales
Information
l Subject is mainly engaged in sales of garment and garment accessories and
etc.
l Subject’s major products include garment accessories (such as zippers,
buckles, stoppers, webbings, laces, ribbons, fancy embellishments, labels,
tags, thread, interlinings, etc), garments for women, men and children, etc.
l Subject’s selling territory includes Asia, Europe, America and etc.
l Subject’s main customers are designers and manufacturers of garment, garment
shops and supermarkets, etc.
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Garment and garment accessories and etc. |
|
Payment Terms |
Cash, T/T and etc. |
2.
Import
|
Products |
Garment and garment accessories and etc. |
|
Payment Terms |
L/C, T/T and etc. |
Sales
1.
Domestic Markets
|
Product |
Garment and garment accessories and etc. |
|
Selling Terms |
Cash, T/T and etc. |
2.
Export
|
Product |
Garment and garment accessories 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. Nishan 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
|
Date: |
2012-3-17 |
|
Court Name: |
Small Claim Tribunal |
|
Court No.: |
004127/12 |
|
Claimant: |
Grand Power Express
International Ltd |
|
Defendant: |
Max Trade Ltd c/o |
|
Reason: |
Service Charge |
|
Amount(HKD): |
-- |
|
2 |
|
|
Date: |
2011-3-14 |
|
Court Name: |
Magistrates' Courts |
|
Court No.: |
ESS39523 |
|
Claimant: |
ESS39523/2010 |
|
Defendant: |
Max Trade Ltd |
|
Reason: |
Failing to furnish
Profits Tax Return |
|
Amount(HKD): |
-- |
|
3 |
|
|
Date: |
2008-10-3 |
|
Court Name: |
District Court Tax
Claim |
|
Court No.: |
8006 |
|
Claimant: |
Commissioner
of Inland Revenue |
|
Defendant: |
Max Trade Ltd |
|
Reason: |
Tax |
|
Amount(HKD): |
183,641.00 |
|
4 |
|
|
Date: |
2008-9-22 |
|
Court Name: |
District Court Civil
Action |
|
Court No.: |
4132 |
|
Claimant: |
Geodis Wilson Hong Kong
Ltd |
|
Defendant: |
Max Trade Ltd |
|
Reason: |
Freight Charges |
|
Amount(HKD): |
556,614.27 |
|
5 |
|
|
Date: |
2008-09-19 |
|
Court Name: |
District Court Civil
Action |
|
Court No.: |
4076 |
|
Claimant: |
Ken Hill Freight
Services Ltd |
|
Defendant: |
Dhananjay Malhotra (D1) |
|
Reason: |
Freight Charges |
|
Amount(HKD): |
12,079.73 |
|
6 |
|
|
Date: |
2006-9-4 |
|
Court Name: |
Small Claim Tribunal |
|
Court No.: |
040918/06 |
|
Claimant: |
Lion Button (Asia) Co.
Ltd |
|
Defendant: |
Max Trade Ltd. |
|
Reason: |
Miscellaneous |
|
Amount(HKD): |
-- |
|
7 |
|
|
Date: |
2005-10-13 |
|
Court Name: |
Small Claim Tribunal |
|
Court No.: |
051626 |
|
Claimant: |
Asia Telecom Ltd |
|
Defendant: |
Max Trade Ltd |
|
Reason: |
|
|
Amount(HKD): |
-- |
|
8 |
|
|
Date: |
2003-5-23 |
|
Court Name: |
District Court Civil
Action |
|
Court No.: |
2953 |
|
Claimant: |
DFDS Transport (HK)
Ltd |
|
Defendant: |
Max Trade Ltd |
|
Reason: |
Dishonored Cheque |
|
Amount(HKD): |
96,342.65 |
|
9 |
|
|
Date: |
2002-7-22 |
|
Court Name: |
District Court Civil
Action |
|
Court No.: |
4527 |
|
Claimant: |
Meitat Hong
Button Co Ltd |
|
Defendant: |
Max Trade Ltd Unit E, 17/F Lever Tech
Centre 69-71 King Yip St. Kwun Tong, Kln |
|
Reason: |
Good Sold &
Delivered |
|
Amount(HKD): |
48,032.00 |
Mortgage
Record
|
Company Name: |
Max Trade Limited |
|
Instrument of Creating Mortgage: |
Mortgage |
|
Date of Creating Mortgage: |
2012-8-31 |
|
Amount Secured: |
All moneys |
|
Name of Mortgagee: |
DBS Bank (Hong Kong) Limited |
|
Address of Mortgagee: |
11th Floor, The Center, 99 Queen’s Road Central, Hong Kong |
|
Description of Property Mortgaged: |
5/343rd parts or shares of and in Kwun Tong Inland Lot No.
160 (workshop Unit 2 on 12th Floor, Hung To Industrial Building,
No. 80 Hung to Road, Kowloon) |
Special
Note
Interview Details
|
Name |
Mr. Nishan |
|
E-mail: |
Industry
Information
84619--Other clothing accessories and parts,
not for babies, not knitted or crocheted (kg)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
|
|
|
|
|
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
Unit A, 9/F., Fu Hop
Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong
Unit A, 9/F., Fu
Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong
Unit A, 9/F., Fu
Hop Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong
Unit A, 9/F., Fu Hop
Factory Building, 209-211 Wai Yip Street, Kwun Tong, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.80 |
|
UK Pound |
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.72.52 |
|
HKD |
1 |
Rs. |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.