MIRA
INFORM REPORT
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Report No. : |
307689 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLORY ON INTERNATIONAL LIMITED |
|
|
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Registered Office : |
1803, 18F, New Treasure Centre, |
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Country : |
Hongkong |
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Date of Incorporation : |
11.01.2002 |
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Com. Reg. No.: |
32555792 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
· Subject is engaged Sale of Apparel. The mainly products of the subject are jacket, lady suits,
blouses, sweaters, T shirts, night gown. |
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No. of Employees : |
About 8 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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) |
|
Hongkong |
A1 |
A1 |
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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 |
HONGKONG - 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 English): |
Glory On International Limited |
|
Supplied Name: |
GLORY ON INTERNATIONAL LIMITED |
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Trading Address: |
1803, 18F, New Treasure Centre, 10 Ng Fong
St., San Po Kong, Kowloon, Hong Kong |
|
Supplied Address: |
1803 18/F NEW TREASURE CENTRE 10 NG FONG STREET SAN PO KONG KOWLOON,
HONG KONG |
Note: The exact name
and address are as above. It seems that the supplied website www.capeunionmartgroup.co.za
belongs to another company.
Company
Identification Details
|
Registered Name: |
|
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Registered Address: |
1803, 18F, New
Treasure Centre, 10 Ng Fong St., San Po Kong, Kowloon, Hong Kong |
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Telephone Number: |
+852-2334-2148 |
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Fax Number: |
+852-2356-2178 |
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Date of Registration: |
2002-1-11 |
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Registered Number: |
782168 |
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Business Registration No.: |
32555792 |
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Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2015.2, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 2 (USD 0.258) = 2 Shares@ HKD 1 |
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Legal Form: |
Private Limited Liability Company |
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SITC Code: |
84587-- Articles Of Apparel, Men's Or Boys',
N.E.S., Not Knitted Or Crocheted (No.) |
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Principal Activities: |
Trading of apparel. |
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Staff: |
About 8 Employees |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-1-11 |
History
Subject was incorporated on 2002-1-11 with the
registered number 782168 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Subject did not register
any subsidiaries or branches, from other source we can not obtain the relevant
information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Lau Wai Fat |
1 |
50% |
|
Lam Ching |
1 |
50% |
|
Total |
2 |
100% |
Major Shareholder Information:
|
1 |
|
|
Name: |
Lau Wai Fat |
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Address: |
Unit D, 9F, Kadoorie Hill, 211 Prince Edward
Rd. West, Kowloon, Hong Kong |
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2 |
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Name: |
Lam Ching |
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Address: |
Unit D, 9F, Kadoorie Hill, 211 Prince Edward
Rd. West, Kowloon, Hong Kong |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
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Name: |
Lau Wai Fat |
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Address: |
Unit D, 9F, Kadoorie Hill, 211 Prince Edward
Rd. West, Kowloon, Hong Kong |
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Position: |
Director & Secretary |
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ID Number: |
G511409(7) |
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2 |
|
|
Name: |
Lam Ching |
|
Address: |
Unit D, 9F, Kadoorie Hill, 211 Prince Edward
Rd. West, Kowloon, Hong Kong |
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Position: |
Director |
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ID Number: |
G515393(9) |
Personnel
Structure
|
Total Employees |
Operation Information
Offices &
Factories
|
|
Office |
|
Address: |
1803, 18F, New Treasure Centre, 10 Ng Fong
St., San Po Kong, Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
Room No.03 On 18th Floor New Treasure Centre
No.10 NG Fong Street Kowloon |
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Owners: |
Haskins Investments Limited |
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Memorial Number: |
UB5528217 |
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Date of Instrument: |
1992-12-11 |
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Date of Registration: |
1993-1-7 |
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Consideration Value: |
HKD 177,000,000.00 |
History of
Premises Owners’
|
1 |
|
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Memorial No.: |
11051802630083 |
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Date of Instrument: |
2011-5-5 |
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Date of Registration: |
2011-5-18 |
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Nature: |
Supplemental Deed Relating To A Deed Of Release
Dated 16.12.2010 |
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In Favor of: |
-- |
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Consideration: |
All Moneys |
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2 |
|
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Memorial No.: |
06011100980126 |
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Date of Instrument: |
2005-12-16 |
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Date of Registration: |
2006-1-11 |
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Nature: |
Assignment Of Proceeds |
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In Favor of: |
Sumitomo Mitsui Banking Corporation |
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Consideration: |
All Moneys (PT.) |
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3 |
|
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Memorial No.: |
UB7464020 |
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Date of Instrument: |
1998-3-27 |
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Date of Registration: |
1998-4-24 |
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Nature: |
Tenancy Agreement With Plans For 2 Yrs. From
4.3.1998 TO 3.3.2000 |
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In Favor of: |
Lau Kwok Wah Trading As United Asia
Enterprise |
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Consideration: |
-- |
Production
Information
· Subject is engaged in trading of apparel, etc. without any production activities.
Purchase Information
· It is introduced that subject’s products are both purchased at home and abroad.
Sales Information
· Subject is engaged in sale of apparel, etc.
The
mainly products of the subject are jacket, lady suits, blouses, sweaters, T
shirts, night gown, etc.
It
is introduced that subject’s sales regions include domestic market and abroad
like North America, etc.
Subject’s
major customers are apparel shops, supermarkets, dealers of garments, etc.
Settlements
PURCHASE
Domestic Purchase
|
Products |
Apparel, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Apparel, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Domestic Markets
|
Product |
Apparel, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Apparel, etc. |
|
Selling Terms |
L/C, T/T, etc. |
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
|
Date: |
2014-6-16 |
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Court Name: |
High Court Commercial Action |
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Court No.: |
179 |
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Claimant: |
Glory On Investment Ltd (LDPD) (Applicant) |
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Defendant: |
Not Stated
|
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Reason: |
Interlocutory Application filed on 13.6.2014 |
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2 |
|
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Date: |
2014-2-18 |
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Court Name: |
High Court Commercial Action |
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Court No.: |
182 |
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Claimant: |
Glory On Investment Ltd (LDPD) (Applicant) |
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Defendant: |
Hearing |
Mortgage Record
No mortgage record of the subject was 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
|
Name: |
Ms. Liu |
|
Department: |
Sales Department |
Industry Information
84587-- Articles Of
Apparel, Men's Or Boys', N.E.S., Not Knitted Or Crocheted (No.)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
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Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Australia |
26 |
12 |
273 |
65 |
|
Belgium |
195 |
37 |
307 |
52 |
|
Switzerland |
56 |
136 |
404 |
887 |
|
Germany |
45 |
45 |
393 |
878 |
|
Spanish |
555 |
86 |
1,831 |
325 |
|
France |
80 |
62 |
1,002 |
722 |
|
Britain |
924 |
330 |
3,314 |
1,295 |
|
Italy |
752 |
902 |
3,626 |
4,008 |
|
Korea |
34 |
3 |
242 |
275 |
|
The Mainland of China |
192,038 |
11,315 |
733,322 |
43,102 |
|
Exports |
||||
|
France |
1 |
1 |
1 |
1 |
|
Macau |
-- |
-- |
47 |
36 |
|
-- |
-- |
183 |
142 |
|
|
USA |
15 |
3 |
171 |
161 |
|
The Mainland of China |
48 |
116 |
1,059 |
1,781 |
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
Address: 1803, 18F, New Treasure Centre, 10 Ng
Fong St., San Po Kong, Kowloon, Hong Kong
New Treasure Centre, 10 Ng Fong St., San Po
Kong, Kowloon, Hong Kong
18F, New Treasure Centre, 10 Ng Fong St., San
Po Kong, Kowloon, Hong Kong
1803, 18F, New Treasure Centre, 10 Ng Fong
St., San Po Kong, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.