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Report No. : |
355656 |
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Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SILVER BIRCHES FAR EAST LTD. |
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Registered Office : |
Unit 1, & 5, 4/F., Block B, Po Yip Building, 62-70 Texaco Road, Tsuen Wan, New Territories |
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Country : |
Hong Kong
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Date of Incorporation : |
06.09.2000 |
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Com. Reg. No.: |
31215882 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Manufacturer and Exporter of All kinds of Woven Labels. |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
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 |
SILVER BIRCHES FAR EAST LTD.
ADDRESS: Unit 1, & 5, 4/F., Block B, Po Yip
Building, 62-70 Texaco Road, Tsuen Wan, New Territories, Hong Kong.
PHONE: 852-2361 1326
FAX: 852-2361 6151
E-MAIL: sales@silverbirches.com.hk
MANAGEMENT:
Managing Director: Mr.
Christopher James Harris
Incorporated on: 6th September, 2000.
Organization: Private Limited
Company.
Issued Share Capital: HK$1,000.00
Business Category: Importer,
Manufacturer and Exporter.
Employees: 15.
Main Dealing Banker: Standard
Chartered Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
SILVER BIRCHES FAR
EAST LTD.
Registered Head
Office:-
Unit 1, & 5, 4/F., Block B, Po Yip Building, 62-70 Texaco Road,
Tsuen Wan, New Territories, Hong Kong.
Associated
Companies:
Silver Birches Label Co. Ltd., UK.
Silver Birches Ltd., US.
31215882
0730336
Managing Director: Mr.
Christopher James Harris
HK$1,000.00
(As per registry dated 06-09-2015)
|
Name |
|
No. of shares |
|
|
|
|
Ordinary A |
Ordinary B |
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Clive Bradington HARRIS |
|
600 |
- |
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Ann Elizabeth HARRIS |
|
300 |
- |
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Christopher James HARRIS |
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- |
100 |
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|
–––– |
––– |
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Total: |
900 === |
100 === |
(As per registry dated 06-09-2015)
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Name (Nationality) |
Address |
|
Christopher James HARRIS |
House 3, (Wong Palace), Ho Chung New Village, Lot 433, DD 244,
Nam Pin Wai Road, Sai Kung, New Territories, Hong Kong. |
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Ann Elizabeth HARRIS |
Riverside House, Station Road, Borrowash, Derbyshire DE72 3LJ, UK. |
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Clive Bradington HARRIS |
Riverside House, Station Road, Borrowash, Derbyshire DE72 3LJ, UK. |
(As per registry dated 06-09-2015)
|
Name |
Address |
Co. No. |
|
Ample Talent Consultants Ltd. |
Unit A, 8/F., CKK Commercial Centre, 289 Hennessy Road, Wanchai,
Hong Kong. |
0620120 |
The subject was incorporated on 6th September, 2000 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Harbour Fiesta
Ltd. which was changed to the present style on 1st November, 2000.
Long time ago, the subject was located at ‘Unit 504, 5/F., Yee Kuk
Industrial Centre, 555 Yee Kuk Street, Cheung Sha Wan, Kowloon, Hong
Kong’. It moved to the present address
in December 2005.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Manufacturer and Exporter.
Lines: All
kinds of woven labels.
Employees: 15.
Materials/Commodities: Imported
from UK, other European countries, Asian countries.
Markets: Europe,
North America, Southeast Asia.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T.
Issued Share Capital: HK$1,000.00
Mortgage or charge:-
Date of Mortgage: 04-05-2010
Amount: All
moneys in respect of general banking facilities and interest thereon
Property: 1,014/4,415,570th
parts or shares of and in Kowloon Inland Lot No. 11090 (Flat
C on 23/F. of
Tower 9 of Park Avenue, 18 Hoi Ting Road, Kowloon, Hong Kong.)
Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a
satisfactory manner.
Facilities: Making rather
active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
Standard Chartered
Bank, Hong Kong Branch.
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Having issued 1,000 ordinary shares of HK$1.00 each, Silver Birches Far East
Ltd. is a private limited company jointly owned by Mr. Clive Bradington Harris,
holding 60% stake, Ms. Ann Elizabeth Harris, holding 30%, Mr. Christopher
James Harris, 10%. The former two is a
British couple residing in England.
The managing director of the subject Christopher James Harris is
residing in Hong Kong. He belongs to the
Harris family.
The subject is a woven label manufacturer. Most of the labels are for garments. All the products are manufactured on OEM
basis. The subject is responsible for
labels designing and samples making. The
followings are the main products of the subject:
Woven Label, Hang Tag & Printed Label for Garment (Printed fabric
label), Packaging Materials – Misc. (Garment related packaging.
With facilities at key locations throughout the world, the subject is a
manufacturer of printed products to the retail industry.
It focuses on consistent timely production at competitive prices,
offering manufacturers and retailers with solutions which suit their needs.
As an approved supplier to leading retail outlets in Europe and North
America, the subject has had a number of regular customers, namely, Disney,
Laura Ashley.
The subject’s head office is in the United Kingdom while its associated
company is in New Delhi, India.
The subject is responsible for the supplying to manufacturers in Asia
and Turkey.
Mr. and Mrs. Harris are responsible for the business of the Head Office
in Nottingham, the United Kingdom.
The subject’s business is chiefly handled and administered by Mr.
Christopher James Harris who is a Hong Kong ID holder.
The subject is fully supported by its head office in the United Kingdom.
On the whole, having a history of over fifteen years, the subject is
considered good for normal credit requirements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
HKD |
1 |
Rs.8.51 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.