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Report No. : |
355440 |
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Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
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Name : |
BRAND I.D. HK LTD. |
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Registered Office : |
Flat A, 15/F., Yam Hop Hing Industrial Building, 40-44 Kwai Wing Road, Kwai Chung, New Territories |
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Country : |
Hong Kong
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Date of Incorporation : |
06.08.1999 |
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Com. Reg. No.: |
30289129 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Apparel Trims & Accessories. |
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No. of Employees : |
45 [Including Warehouse] |
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.
|
Source
: CIA |
BRAND I.D. HK LTD.
ADDRESS: Flat A, 15/F., Yam Hop Hing Industrial
Building, 40-44 Kwai Wing Road, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2410
0089, 2899 2955
E-MAIL: support@brandid.com
MANAGEMENT:
Managing Director: Mr. Colin Clay
Cormac
Incorporated on: 6th August, 1999.
Organization: Private Limited Company.
Issued Share Capital: HK$2.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 45. (Including warehouse)
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Very Good.
BRAND I.D. HK LTD.
Registered Head
Office:-
Flat A, 15/F., Yam Hop Hing Industrial Building, 40-44 Kwai Wing Road,
Kwai Chung, New Territories, Hong Kong.
Warehouse:-
Flat B & C, 15/F., Yam Hop Hing Industrial Building, 40-44 Kwai Wing
Road, Kwai Chung, New Territories, Hong Kong.
Associated
Companies:-
Brand I.D. China Office, China.
Brand I.D. India Private Ltd., India.
Brand I.D. LLC, USA.
30289129
0684663
Managing Director: Mr. Colin Clay
Cormac
HK$2.00
(As per registry dated 06-08-2015)
|
Name |
|
No. of shares |
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Colin Clay CORMAC |
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1 |
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Andrew Paul HOCKADAY |
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1 |
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– |
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Total: |
2 = |
(As per registry dated 06-08-2015)
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Name (Nationality) |
Address |
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Colin Clay CORMAC |
1027 White Sails Way, Corona Del Mar, CA 92625, USA. |
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Andrew Paul HOCKADAY |
1565 Caribbean Way, Laguna Beach, CA 92651, USA. |
(As per registry dated 06-08-2015)
|
Name |
Address |
Co. No. |
|
Heffer Management Services Ltd. |
Room 804, 8/F., Eastern Commercial Centre, 397 Hennessy Road, Hong
Kong. |
0105708 |
The subject was incorporated on 6th August, 1999 as a private limited
liability company under the Hong Kong Companies Ordinance.
It registered its Chinese name formally on 1st April, 2011.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Apparel
trims & accessories.
Employees: 45. (Including warehouse)
Commodities Imported: Europe,
China, other Asian countries.
Markets: Asian
countries, Europe, United States.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P.
Issued Share Capital: HK$2.00
Profit or Loss: Traded
at a small profitable angle.
Condition: Keeping in a satisfactory
manner.
Facilities: Making active
use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Good.
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Very Good.
Brand I.D. HK Ltd. is equally owned by Mr. Colin Clay Cormac and
Mr. Andrew Paul Hockaday while both of whom are American. The subject has just issued 2 ordinary shares
of HK$1.00 each while each of the shareholders holds a single share. The two shareholders are US passport holders
and do not have the right to reside in Hong Kong permanently. They are also directors of the subject. Their registered addresses are in CA of the
United States.
The subject is an associated company of Brand I.D. LLC [Brand I.D.]
which is a US-based firm.
The subject is trading in the same products as Brand I.D. Brand I.D. is trading in the following
categories:-
Brand I.D., founded in 1996, is widely recognized as a leading apparel
trim and accessory innovator. It
provides a vast assortment of uniquely styled trim, packaging and accessories
for major brands including:
Speedo, Calvin Klein, Guess, Nike, Nasty Gal, Under Armour, Quiksilver,
VF Corp., Kering, PPR, Prana, H U F, Nordstrom, Adidas, amazon, Columbia,
asics, FILSON, OBEY, Supreme, Puma.
With a wide range of products and advanced global production
capabilities, Brand I.D. is equipped to cost-effectively supply quality
designer trims and accessories to both global and regional brands.
Brand I.D. offers a wide range of globally consistent packaging,
zippers, trims and accessories available in the marketplace today. Claiming a diverse list of discerning customers
from the quick-turn denim manufacturers of Los Angeles to producers of woven
shirts in India, Brand I.D. offers the combination of cutting edge products and
progressive sustainable materials.
In addition to offering trim designs and materials, Brand I.D. stands
apart as the world’s technically advanced trim company. Its multi-million dollar, web-enabled,
automated trim management system is the backbone of its business.
Brand I.D. claims to be an advanced apparel and trim back‑end
software solution provider. This enables
it to produce valuable enterprise reporting data and provide its trading
partners with access to real‑time production, shipping and other relevant
supply chain information.
The headquarters of Brand I.D. are in the United States, so does its US
warehouse. It has had offices in Los
Angeles and in Orange County.
Brand I.D. has had its associated company and warehouse in China located
in Ningbo City, Zhejiang Province, China.
The China office is a main buying office.
Brand I.D. has had an associated company in India known as Brand I.D.
India Private Ltd. This company was
incorporated on 9th November, 2012.
Located in Chennai, India, Brand I.D. India is trading in the same
products as the subject. Its authorised
capital is Rs. 2,500,000.
The annual sales turnover of Brand I.D. is very significant. Business is profitable.
The subject has had a main customer in India known as Amazing Apparels
which is in New Delhi, India.
As the history of the subject is over 16 years and four months in Hong
Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.30 |
|
|
1 |
Rs.98.70 |
|
Euro |
1 |
Rs.72.33 |
|
HKD |
1 |
Rs.8.54 |
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 : |
TPT |
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 |
-- |
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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.