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Report No. : |
354055 |
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Report Date : |
16.12.2015 |
IDENTIFICATION DETAILS
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Name : |
INTEGRA TRIM LTD. |
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Registered Office : |
9/F, 38 Hung To Road, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.12.2007 |
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Com. Reg. No.: |
38827967 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Label Manufacturer and Trader of Woven Labels, Printed Labels, Hang Tags,
Silicone Labels, and Leather Labels. |
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No. of Employee : |
95. (Including associates) 2,000. (Group) |
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
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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 |
The subject is not located at your “1 Queen’s Road Central” where is the
headquarters of The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
INTEGRA TRIM
LTD.
ADDRESS: 9/F., 38 Hung To Road, Kwun
Tong, Kowloon, Hong Kong.
PHONE: 852-2757 5212
FAX: 852-2796 9128
E-MAIL: jointak@jointak.com.hk
MANAGEMENT:
Managing Director: Mr. Lau Man
Yuen, William
Incorporated on: 28th December, 2007.
Organization: Private Limited Company.
Issued Share Capital: HK$100,000.00
Business Category: Label
Manufacturer and Trader.
Employees: 95. (Including associates)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
9/F., 38 Hung To Road, Kwun Tong, Kowloon, Hong Kong.
China Associated Branches:-
Shanghai Branch [Operated by Jointak Labels Co. Ltd.]
Suite 6A05-6A07 & 6K30-6K32, Shanghai Mart, 2299 Yanan Road West, Shanghai
200336, China.
Tel: 86-21-6236 0238
Fax: 86-21-6236 0523
Email: shanghai@jointak.com
Guangzhou Branch [Operated by Jointak Labels Co. Ltd.]
Room 1025B, Taojin Garden Commercial Centre, 98-100 Hengfu Road, Yuexiu
District, Guangzhou City, Guangdong Province, China.
Tel: 86-20-8349 6815
Fax: 86-20-8349 6816
Email: guangzhou@jointak.com
Dongguan Branch [Operated by Dongguan Jointak Industrial Co.
Ltd.]
Chuk Tong Chum Hau Industrial District, Fenggang Town, Dongguan City, Guangdong
Province, China.
Tel: 86-0769-8755 5571
Fax: 86-0769-8755 5567
Email: dongguan@jointak.com
China Factory:-
Dongguan Gangde Garment Accessories Co. Ltd.
Fenggang Town, Dongguan City, Guangdong Province, China.
[Tel 86-0769-8755 5571
Fax: 86-0769-8755 5567
E-mail: dongguan@jointak.com]
Associated Factories:-
Waitak Labels Factory Ltd.
Unit 1, G/F., Block 5, Nan Fung Industrial City, 18 Tin Hau Road,
Tuen Mun, New Territories, Hong Kong.
Label Tech International Trims Ltd.
6/F., 38 Hung To Road, Kwun Tong, Kowloon, Hong Kong.
Great Printing Co. Ltd.
5/F., 38 Hung To Road, Kwun Tong, Kowloon, Hong Kong.
Holding Company:-
HYH Enterprise Ltd., British Virgin Islands.
Associated Companies:-
Dongguan Gangde Garment Accessories Co. Ltd., China.
Dongguan Jointak Industrial Co. Ltd., China.
Empire River Ltd., Hong Kong.
Great Printing Co. Ltd., Hong Kong.
Jointak Group Ltd., Hong Kong.
Jointak Labels Co. Ltd., Hong Kong.
Label Tech International Trims Ltd., Hong Kong.
Waitak Labels Factory Ltd., Hong Kong.
38827967
1198792
Managing Director: Mr. Lau Man
Yuen, William
HK$100,000.00
(As per registry dated 28-12-2014)
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Name |
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No. of shares |
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HYH Enterprise Ltd. P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola,
British Virgin Islands. |
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100,000 ====== |
(As per registry dated 28-12-2014)
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Name (Nationality) |
Address |
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LAU Man Yuen |
9/F., 38 Hung To Road, Kwun Tong, Kowloon, Hong Kong. |
(As per registry dated 28-12-2014)
|
Name |
Address |
Co. No. |
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Chan & Fung Secretarial Services Ltd. |
13/F., Harbour Commercial Building, |
0258336 |
The subject was incorporated on 28th December, 2007 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: Label
Manufacturer and Trader.
Lines: Woven
labels, printed labels, hang tags, silicone labels, and leather labels.
Employees: 95. (Including associates)
2,000. (Group)
Raw Materials: Imports raw materials from
European countries, Taiwan and finished products from Dongguan, Guangdong
Province, China.
Markets: UK,
Australia, US, Asian countries.
Terms/Sales: L/C,
T/T
Terms/Buying: As per
contracted.
Issued Share Capital: HK$100,000.00
Profit or Loss: Made
profits in the past years.
Condition: Keeping
in an active state.
Facilities: Making
active use of general banking facilities.
Payment: No complaints
Commercial Morality: Good.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Very Good.
Having issued 100,000 ordinary shares of HK$1.00 each, Integra Trim Ltd.
is wholly-owned by HYH Enterprise Ltd. which is a BVI-registered company. The director of the subject is Mr. Lau Man
Yuen, William.
The subject is an associated company of Jointak Labels Co. Ltd.
[Jointak] which is also located at the same address.
The managing director of Jointak is Mr. Lau Tak Wai while Lau Man Yuen
is his son.
The subject belongs to the Jointak Group Ltd. [Jointak Group]. The subject and the Group are engaged in the
same lines of business.
The subject is a manufacturer and supplier of garment trim and packaging
items for the apparel industry. The followings
are its products:
Jointak Group is one of the well-known garment accessory manufacturers
in the Hong Kong and China region. It
offer customers with woven and printed brand labels, badges, care labels,
branded and promotional hangtags, special labels, barcodes and packaging
related products.
After establishing its business in 1984, the Group’s business has
expanded substantially to more than 2,000 staff members, 1,000 machines and a
total factory floor area exceeding 50,000 square meters in Hong Kong and China.
The subject is using such materials as silicon, rubber, PVC, real and PU
leather, polyester, cotton and paper.
The Group has set up factories in Hong Kong and Dongguan City, Guangdong
Province, China.
Finished products are exported to the United States, the United Kingdom,
Australia. as well as marketed in China.
The subject’s raw materials such as yarns, ribbons are imported from the
United Kingdom, Taiwan and acquired from the suppliers in China.
At present, the subject has set up three associated branches in China,
one in Shanghai, one in Guangzhou while the third in Dongguan. The Dongguan branch is in the same address as
its Dongguan factory which is known as Dongguan Gangde Garment Accessories Co.
Ltd.
In Hong Kong, the subject has got three affiliated factories, namely,
Waitak Labels Factory Ltd., Label Tech International Trims Ltd. and Great
Printing Co. Ltd.
The Group owns the whole factory building located at 38 Hung To Road,
Kwun Tong, Kowloon, Hong Kong.
The annual sales turnover of the Group is very significant.
On the whole, having a history of about eight years in Hong Kong, the
subject is considered good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.67.04 |
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|
1 |
Rs.101.67 |
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Euro |
1 |
Rs.73.93 |
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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 : |
TRU |
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.