MIRA INFORM REPORT
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Report No. : |
305779 |
|
Report Date : |
05.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEW BOND TEXTILES LIMITED |
|
|
|
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Registered Office : |
Unit 1, 31/F No.1, Hung To Road, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.09.2008 |
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Com. Reg. No.: |
1276187 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Textiles |
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No. of Employee : |
About 60 employees (Group) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
No complaints |
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|
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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% of total system deposits in Hong Kong by the end of 2013. 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 34.9 million in 2012, 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 2012 mainland Chinese companies constituted about 46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% 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% in 2013. 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 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Contact
Points
|
Company Name (in English): |
New Bond Textiles Limited |
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Supplied Name: |
NEW BOND TEXTILES LIMITED |
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Trading Address: |
Unit 1, 31/F No.1, Hung To Road, Kwun Tong, Kowloon, Hong Kong |
|
Supplied Address: |
UNIT 1, 31/F NO.1, HUNG TO ROAD KWUN TONG,KOWLOON, HONG KONG |
Note: The exact name
and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit 1, 31/F No.1, Hung To Road, Kwun
Tong, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2334-6771/3188-8600 |
|
Fax Number: |
+852-2765-7469/3188-4180 |
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Date of Registration: |
2008-9-29 |
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Registered Number: |
1276187 |
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Business Registration No.: |
39856181 |
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Paid-up Capital: |
HKD 1,000,000 (USD 129,000) = 1,000,000
Shares @ HKD 1 (As of 2015.2, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
65134-cotton yarn (other than sewing thread),
containing less than 85% by weight of cotton, not for retail sale (kg) |
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Principal Activities: |
Trading of textiles, etc. |
|
Staff: |
About 60 employees (Group) |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-9-29 |
History
Subject was incorporated on 2008-9-29 with the
registered number 1276187 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Related Company
|
Name: |
Bondex International Textiles Limited |
|
Address: |
Unit 1, 31/F No.1, Hung To Road, Kwun Tong, Kowloon, Hong Kong |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Chu Siu Cheong |
500,000 |
50% |
|
Yih Kwe Sun |
500,000 |
50% |
|
Total |
1,000,000 |
100% |
Major Shareholder Information:
|
1 |
|
|
Name: |
Chu Siu Cheong |
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Address: |
Unit C, Level 16, Tower 17, Laguna Grande, 8
Laguna Verde Avenue, Phase 4, Laguna Verde, Hunghom, Kowloon, Hong Kong |
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2 |
|
|
Name: |
Yih Kwe Sun |
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Address: |
Unit A, 29/F., Tower 5, The Riverpark, No. 8
Che Kung Miu Road, Shatin, N.T. Hong Kong |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
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Name: |
Chu Siu Cheong |
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Address: |
Unit C, Level 16, Tower 17, Laguna Grande, 8
Laguna Verde Avenue, Phase 4, Laguna Verde, Hunghom, Kowloon, Hong Kong |
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Position: |
Director |
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ID Number: |
E603882(8) |
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2 |
|
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Name: |
Yih Kwe Sun |
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Address: |
Unit A, 29/F., Tower 5, The Riverpark, No. 8
Che Kung Miu Road, Shatin, N.T. Hong Kong |
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Position: |
Director |
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ID Number: |
D230059(2) |
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3 |
|
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Name: |
Smartlink Business Consultants limited |
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Address: |
Flat B, 14/F., Wah Hing Comm. Centre, 383
Shanghai Street, Yaumatei, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
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Registered Number: |
732276 |
Personnel Structure
|
Total Employees |
Operation
Information
|
|
Office |
|
Address: |
Unit 1, 31/F No.1, Hung To Road, Kwun Tong, Kowloon, Hong Kong |
Premises Information
The subject is located at Unit 1, 31/F No.1,
Hung To Road, Kwun Tong, Kowloon, Hong Kong. However, we cannot get any related registration
information for this address in the official authorities.
Production
Information
Subject is a trader of textiles,
etc. without any production activities.
It is introduced that subject has
corporate factories in the Mainland of China, but we cannot obtain the detail
information.
Purchase Information
Subject’s products are mainly purchased at domestic market.
Sales Information
Subject is engaged in sale of textiles
Subject‘s main products are clothing textiles,
such as yarn-dyed cotton and linen dyed and so on.
It is introduced that subject also provides
offer spinning, weaving, dyeing, printing and yarn dyed fabrics to some of the
world's famous brands like H&M, Victoria's Secret, Gap Inc.,
Polo Ralph Lauren and G-Star Raw, etc.
Subject’s main sales regions are domestic
market, Singapore Southeast Asia and North America, etc.
Settlements
Purchase
Domestic Purchase
|
Products |
Textiles, |
|
Payment Terms |
T/T, Cash, |
Import
Subject has little import.
Domestic Markets
|
Product |
Textiles, |
|
Selling Terms |
T/T, Cash, |
Export
|
Product |
Textiles |
|
Selling Terms |
L/C, T/T |
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
|
Name: |
Standard Chartered Bank (Hong Kong) Limited |
Public
Mortgage Record
|
1 |
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Company Name: |
New Bond Textiles Limited |
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Instrument of Creating Mortgage: |
Security over deposit in respect of
obligations of the depositor |
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Date of Creating Mortgage: |
2011-1-13 |
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Amount Secured: |
All monies and liabilities, present or future,
actual or contingent, which are now or shall at any time or times hereafter
be or become due, owing, payable or incurred to the Chargee by the Borrower
on any account whatsoever including without limitation actual or contingent
liabilities arising from any loans, the negotiation, discounting, acceptance,
endorsement, or collection by the Chargee of bills of exchange or from the
issue or establishment by the Chargee of bonds, guarantees, indemnities,
letters of credit and documentary credits, whether issued or established at
the date of this security or at any future time, in favour of any third party
or parties and liabilities arising directly or indirectly out of foreign
exchange facilities afforded by the Chargee to the Borrower or out of foreign
exchange transactions carried out by the Chargee or its agents on behalf of
the Borrower (whether solely or jointly with any other person, firm or
company and in whatsoever style, name or form, and whether as principal,
surety or otherwise) and including interest thereon to the date of payment at
such rates and upon such terms as may from time to time be payable by the
Borrower and all interest, commission, costs, banking and other charges and
expenses (including legal and other professional fees) in reasonable amounts
which the Chargee may reasonably incur in enforcing or obtaining payment of
the moneys due or liabilities owing to the Chargee from the Borrower, either
alone or in conjunction as aforesaid, or attempting so to do, to the intent
that the Chargee shall be afforded a full, complete and unlimited indemnity
in respect thereof to the extent as permitted by the applicable law. |
|
Name of Mortgagee: |
Industrial and Commercial Bank of China
(Asia) Limited |
|
Address of Mortgagee: |
33r Floor, ICBC Tower, 3 Garden
Road, Central, Hong Kong. |
|
Description of Property Mortgaged: |
By way of first fixed charge to the Chargee
the account No. 861600036312 (the “Account”) and all deposits from time to
time therein (the “Deposits”) which expression includes all and every deposit
and any currency into which such sums may from time to time be converted, any
renewal or substitution of such deposits and all interest payable thereon
(whether such deposits are maintained by the Chargee in the same account or
credited to another existing account or an account opened for the purpose)
and all the right, title, benefit and interest whatsoever, present and
future, of the Borrower together with all deposit receipts in respect thereof
(it being understood and agreed that the Deposits may from time to time
hereafter be represented or evidenced by instruments of different dates and
numbers), free from any lien, charge or encumbrance of any kind, to
the intent that such charge shall operate as a continuing security over the
Deposits to the Chargee until all such moneys, obligations and liabilities
have been paid or discharged. The Borrower has undertaken with the Chargee
that the Borrower shall not mortgage, charge, pledge, or otherwise encumber
or assign, transfer or otherwise deal with or grant or suffer to arise any
third party rights over or against the whole or any part of the Account or
the Deposits or purport so to do, except in the favour of the Chargee. |
|
2 |
|
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Company Name: |
New Bond Textiles Limited (“the company”) |
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Instrument of Creating Mortgage: |
Charge Over Deposits-CD1(11) (“the Charge”) |
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Date of Creating Mortgage: |
2011-6-30 |
|
Amount Secured: |
To secure the payment or discharge of all moneys,
obligations and liabilities, whether actual or contingent at the date of the
Charge or at any time after the date thereof, due, owing or incurred by the
Company to Standard Chartered Bank (Hong Kong) Limited ("Bank” which
expression includes its successors and assigns) or to any other company in
the Standard Chartered Group being Standard Chartered Bank (including all its
branches) ("SCB") and the parent and any subsidiary or associated
company of SCB (SCB, the Bank and each such parent, subsidiary and associated
company of SCB, each an "SCB” Group Company") anywhere, whether
alone or jointly, and whether as principal or as surety, including all
principal moneys, interest at such rates as may from time to time be payable
by the Company (or which would have been so payable but for the liquidation,
bankruptcy, death or other incapacity of the Company), fees, commission,
discount and other charges and all expenses including legal costs on a full
indemnity basis incurred in connection with the enforcement or preservation
of the rights of the SCB Group Companies against the Company or under the
Charge. |
|
Name of Mortgagee: |
Standard Chartered Bank (Hong Kong) Limited
(hereinafter called “the Bank” which expression shall include its successors
and assigns) (as trustee for itself and each SCB Group Company (as defined
below) to which any moneys and/or obligations and/or liabilities secured by
the Charge are owed from time to time) |
|
Address of Mortgagee: |
4-4A Des Voeux Road, Central, Hong Kong |
|
Description of Property Mortgaged: |
by fixed Charge: all the Company’s rights in
respect of the following (collectively “Deposits”) (i) the
sum(s) deposited by the Company or for its benefit in the account(s) or as
evidenced by deposit instrument(s) or other evidence of indebtedness
specified in the schedule below, including renewals of such sums; and (ii) all
other sums in any currency from time to time standing to the credit of the
Company or the credit of any other person for the Company’s benefit, on any
account in the Company's sole or joint names maintained with the Bank or any
other SCB Group Company including renewals of such sums, and all interest
from time to time accruing or payable on the sums specified in (i) and (ii)
above; By assignment: all Deposits held with any
SCB Group Company A |
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 |
|
High Court Commercial Action: |
Clear |
|
High Court Construction &
Arbitration Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Name |
Mr. Wang |
|
Department: |
Sales Department |
Industry
Information
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
The Mainland of China |
3,633,723 |
189,964 |
16,483,634 |
808,595 |
|
India |
23 280 |
707 |
82,732 |
2,762 |
|
Korea |
36,858 |
1,108 |
687,887 |
22,132 |
|
Taiwan |
293,320 |
7,651 |
4,415,713 |
101,385 |
|
Exports |
||||
|
The Mainland of China |
4,422,781 |
231,556 |
23,891,823 |
1,049,462 |
|
Cambodia |
33,208 |
1,489 |
68,990 |
2,816 |
|
Romania |
6,668 |
296 |
13,980 |
596 |
|
Taiwan |
6,221 |
235 |
56,274 |
1,349 |
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 |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
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 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
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 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
No.1, Hung To Road, Kwun Tong, Kowloon, Hong Kong
31/F No.1, Hung To Road, Kwun Tong, Kowloon, Hong Kong
Unit 1, 31/F No.1, Hung To Road, Kwun Tong, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.68 |
|
|
1 |
Rs.93.53 |
|
Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
Report Prepared
by : |
ANK |
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.