MIRA INFORM REPORT
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Report No. : |
306530 |
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Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL GLORY BUTTON MANUFACTORY LIMITED |
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|
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Registered Office : |
Unit G, 6/F, Mai Luen Industrial Building,
23-31 Kung Yip Street, Kwai Chung, N. T |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.09.2014 |
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Com. Reg. No.: |
2150830 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Engaged in Manufacturing & sales of Garment Accessories including Metal Jeans Button, Metal Snap Button, Metal Rivet, Metal Eyelet, Metal Hook & Bar, Fancy Plastic Button & Plastic Garment Trims. |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 |
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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% 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
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Company Name (in Chinese): |
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|
Company Name (in English): |
Global Glory Button Manufactory Limited |
|
Supplied Name: |
GLOBAL GLORY BUTTON MANUFACTORY LTD |
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Trading Address: |
Unit G, 6/F, Mai Luen Industrial Building,
23-31 Kung Yip Street, Kwai Chung, N. T. Hong Kong |
|
Supplied Address: |
UNIT G, 6/F., MAI LUEN IND. BLDG. NOS. 23-31,KUNG YIP ST., KWAI CHUNG N.T.,
HK. HONG KONG |
Note: The exact
name and address are as above.
Credit Summary
|
Credit Opinion: |
Since the
subject is a newly established company, the future development remains to be
seen. At this stage credits require securities. |
Company Identification Details
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Registered Address: |
Unit G, 6/F, Mai Luen Industrial Building, 23-31 Kung Yip Street, Kwai
Chung, N. T. Hong Kong |
|
Telephone Number: |
+852-2743-5222/ 2743-5444 |
|
2014-9-30 |
|
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Registered Number: |
2150830 |
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Business Registration No.: |
63886227 |
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Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2015.02, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290)= 1,290 Shares@ HKD 1 |
|
Legal Form: |
Private Limited Liability Company |
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SITC Code: |
89983--Press-Fasteners, Snap-Fasteners and
Press-Studs and Parts Therefor; Buttons (KG) |
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Principal Activities: |
Engaged in Manufacturing & sales of Garment Accessories including Metal Jeans Button,
Metal Snap Button, Metal Rivet, Metal Eyelet, Metal Hook & Bar, Fancy
Plastic Button & Plastic Garment Trims. |
|
Staff: |
N/A |
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Listed at Stock Exchange: |
No |
Notes: Subject declined to disclose its staff number; from other source we
cannot obtain the relevant information, either.
History
Subject was incorporated on 2014-9-30 with the registered number 2150830 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Related Companies
|
1 |
|
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Name: |
Global Glory International Ltd. |
|
Address: |
Flat No. 5A, House No. 335, Road No. 5
(East), D.O.H.S. Baridhara, Dhaka-1212, Bangladesh. |
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Tel: |
+88-02-8415950 |
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Fax: |
+88-02-8415950 |
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2 |
|
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Name: |
Global Glory Garment Accessories Co.,
Limited |
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Address: |
Unit G, 6/F, Mai Luen Industrial Building,
23-31 Kung Yip Street, Kwai Chung, N. T. Hong Kong |
|
Date of Registration: |
2006-5-25 |
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Registered Number: |
1047807 |
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Telephone Number: |
+852-2743-5222/ 2743-5444 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Sze To Shing Lit |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder
Information:
|
Name: |
Sze To Shing Lit |
|
Address: |
Flat A, 15/F, Block 3, Stage 2, Glee Path,
Mei Foo Sun Chuen, Kowloon Hong Kong |
Management Information
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Sze To Shing Lit |
|
Address: |
Flat A, 15/F, Block 3, Stage 2, Glee Path, Mei
Foo Sun Chuen, Kowloon Hong Kong |
|
Position: |
Director |
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ID Number: |
D396421(4) |
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2 |
|
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Name: |
Prime Business Service Limited |
|
Address: |
Flat 27, 1/F, Fook Tin Building, 38 Wai Chi
Street, Kowloon, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
1007224 |
Operation Information
Offices &
Factories
|
|
Office |
|
Address: |
Unit G, 6/F, Mai
Luen Industrial Building, 23-31 Kung Yip Street, Kwai Chung, N. T. Hong Kong |
Premises
Information
Office address:
|
Address: |
Unit G On 6th Floor Mai Luen Industrial Building Nos.23-31 Kung Yip Street Kwai Chung New Territories |
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Owners: |
Global Glory Garment Accessories Co. Limited |
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Memorial Number: |
08082802470174 Assignment |
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Date of Instrument: |
2008-7-31 |
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Date of Registration: |
2008-8-28 |
History of
Premises Owners’
|
1 |
|
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Memorial No.: |
08082802470182 |
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Date of Instrument: |
2008-7-31 |
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Date of Registration: |
2008-8-28 |
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Nature: |
Mortgage |
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In Favor of: |
The Hongkong And Shanghai
Banking Corporation Limited |
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Consideration: |
For Consideration See Memorial |
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2 |
|
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Memorial No.: |
08071000180168 |
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Date of Instrument: |
2008-6-26 |
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Date of Registration: |
2008-10-7 |
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Nature: |
Agreement For Sale And Purchase |
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In Favor of: |
Global Glory Garment Accessories
Co. Limited |
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Consideration: |
HKD 1,250,000.00 |
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3 |
|
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Memorial No.: |
08092302170217 |
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Date of Instrument: |
2008-7-31 |
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Date of Registration: |
2008-9-23 |
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Nature: |
Partial Release |
Production
Information
l The subject is a manufacturer of garment accessories
l Subject has a factory in Dongguan City, Guangdong Province, the mainland
of China for production. However, the subject declined to introduce details of
the factory fir us, we cannot find relevant information
Purchase
Information
l It is introduced that subject purchases its raw materials both at home
and abroad.
Sales Information
l The subject is mainly engaged in sales of garment accessories
l Subject’s major products are metal jeans button, metal snap button, metal
rivet, metal eyelet, metal hook & bar, fancy plastic button & plastic
garment trims.
l Subject’s selling territory includes Asia, Europe, America
l Subject’s major customers are manufacturers and designers of garment
l Subject can provide OEM services.
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
Cash, T/T |
2.
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T |
Sales
1.
Domestic Markets
|
Product |
Raw materials |
|
Selling Terms |
Cash, T/T |
2.
Export
|
Product |
Raw materials |
|
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
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Public
Mortgage Record
No mortgage records of subject were found.
Lawsuits
Up to now, no present
or latent litigation of the subject has been found.
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High Court Action: |
Clear |
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High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration
Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Special Note
Interview
Details
|
Department: |
Sales Department |
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E-mail: |
Industry Information
89983--Press-Fasteners, Snap-Fasteners and Press-Studs and Parts
Therefor; Buttons (KG)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
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Quantity |
Value |
Value |
|
|
Imports |
||||
|
Argentina |
479 |
86 |
1,199 |
199 |
|
Germany |
19,420 |
4,634 |
166,755 |
32,104 |
|
Britain |
1,042 |
265 |
2,515 |
1,146 |
|
India |
3,191 |
788 |
17,555 |
2,550 |
|
Canada |
17,281 |
910 |
78,210 |
4,157 |
|
Italy |
18,145 |
8,832 |
63,414 |
35,348 |
|
Japan |
51,759 |
10,570 |
165,214 |
36,598 |
|
Korea |
1,726 |
765 |
11,997 |
5,638 |
|
Malaysia |
1,543 |
212 |
6,019 |
926 |
|
USA |
11,418 |
2,733 |
60,141 |
11,695 |
|
The Mainland of China |
1,342,050 |
110,944 |
7,217,518 |
539,770 |
|
Exports |
||||
|
Bangladesh |
79,800 |
7,108 |
268,807 |
31,054 |
|
Sri Lanka
|
1,511 |
295 |
4,880 |
701 |
|
Britain |
|
|
|
|
|
India |
2,360 |
663 |
7,402 |
2,915 |
|
Mexico |
972 |
111 |
1,638 |
576 |
|
Italy |
14 |
7 |
3,122 |
423 |
|
Thailand |
1,218 |
437 |
5,474 |
2,840 |
|
Turkey |
1,351 |
244 |
8,183 |
1,945 |
|
Vietnam |
2,441 |
536 |
7,408 |
1,773 |
|
USA |
1,121 |
152 |
6,169 |
872 |
|
The Mainland of China |
36,805 |
2,975 |
154,871 |
12,545 |
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
Unit G, 6/F, Mai Luen Industrial Building, 23-31 Kung Yip Street, Kwai Chung, N. T. Hong Kong
Unit G, 6/F, Mai Luen Industrial Building, 23-31 Kung Yip Street, Kwai Chung,
N. T. Hong Kong
Unit G, 6/F, Mai Luen Industrial Building, 23-31 Kung Yip Street, Kwai
Chung, N. T. Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
UK Pound |
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
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Report Prepared
by : |
MNL |
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.