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Report No. : |
308127 |
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Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
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Name : |
CHARMTEX INTERNATIONAL LIMITED |
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Registered Office : |
23/F Flat 2316 New Tech Plaza, 34 Tai Yau Street, San Po Kong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.03.2009 |
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Com. Reg. No.: |
1322220 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employee : |
Not Available NOTE: It is to be noted that
the company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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% 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.
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Source
: CIA |
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Company Name (in
English): |
CHARMTEX INTERNATIONAL LIMITED |
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Supplied Name: |
CHARMTEX INTERNATIONAL
LIMITED |
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Supplied
Address: |
UNIT 16,23/F.NEW
TECH PLAZA,34 TAI YAU STREET,SAN PO KONG,KOWLOON,HONGKONG |
Since the on site visit to the supplied address has not returned yet, we cannot confirm subject whether at this location or not.
According to the supplied name and address, we can not find any operation information or valid contact information of subject.
We found subject’s registration information as follows for reference.
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Registered Name: |
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Registered Address: |
23/F Flat 2316 New Tech Plaza, 34 Tai Yau
Street, San Po Kong, Kowloon, Hong Kong |
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Date of Registration: |
2009-3-23 |
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Registered Number: |
1322220 |
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Business Registration No.: |
50442612 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD 1 (As of 2015.02, 1 HKD = 0.129 USD) |
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Legal Form: |
Private Limited Liability Company |
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Principal Activities: |
N/A |
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Staff: |
N/A |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-3-23 |
Notes: Since we didn’t
contact subject successfully, the principal activities and staff number are not
available from any sources.
Subject was incorporated on 2009-3-23 with the registered number 1322220 as Private Limited Liability Company in Hong Kong.
Subject did not register any subsidiaries or
branches, from other source we can not obtain the relevant information, either.
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Subscription
Shares |
Proportion of
Investment (%) |
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Mao Dai |
10,000 |
100% |
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Total |
10,000 |
100% |
Major Shareholder
Information:
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Name: |
Mao Dai |
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Address: |
20/F, Jinfeng Mansion, No. 281 Zhonghe Zhong Road, Zhngzhou, China |
Core Management
Detailed
Information of Directors:
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1 |
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Name: |
Mao Dai |
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Address: |
20/F, Jinfeng Mansion, No. 281 Zhonghe Zhong Road, Zhngzhou, China |
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Position: |
Director |
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ID Number: |
M139326(5) |
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2 |
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Name: |
Zhu Wenning |
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Address: |
20/F, Jinfeng Mansion, No. 281 Zhonghe Zhong Road, Zhngzhou, China |
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Position: |
Director |
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ID Number: |
330102196011260011 |
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3 |
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Name: |
Lam Yuk Fung |
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Address: |
23/F Flat 2316 New Tech Plaza, 34 Tai Yau Street, San Po Kong, Kowloon,
Hong Kong |
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Position: |
Secretary |
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ID Number: |
D318252(6) |
Offices & Factories
Since we cannot confirm subject’s current address, we can’t provide the
premise information.
Operation Information
Since we failed to contact with the subject, the operation information is
not available from any sources.
Since we didn’t contact subject successfully, the settlement information
is not available from any sources.
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.
Since we didn’t contact subject successfully, the financial information
is not available from any sources.
Since we didn’t contact
subject successfully, the bank information is not available from any sources.
Mortgage Record
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1 |
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Company Name: |
Charmtex
International Limited |
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Instrument of Creating Mortgage: |
Charge on Cash Deposit(s) to secure Liabilities of the Depositor(s)
("Charge") |
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Date of Creating Mortgage: |
2013-10-2 |
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Amount Secured: |
All sums of money and liabilities whether actual or contingent, as at the
date of the Charge or in the future owing or incurred to the Bank on any
account whatsoever by the Company whether as principal or surety and whether
from the Company solely or from the Company jointly with any other person or
persons or from any firm in which the Company may be a partner and in
whatever style, name or form, and including (without limitation): (i) the amount of (01) any
loans, acceptances or other credits or advances made to or for the
accommodation or at the request of the Company, (02) any notes or bills,
made, accepted, endorsed, discounted or paid by the Bank, (03) any liability
under guarantees, indemnities, foreign exchange contracts (spot, forward or
otherwise), documentary or other credits or any other instruments whatsoever
assumed or given or entered into by the Bank for or at the request of the
Company and (04) any liability under all hire purchase agreements and
financial, equipment, motor vehicle and other leases entered into between the
Bank and the Company; and (ii) (01) interest to the
date of payment (notwithstanding any demand, judgment, death, dissolution,
insolvency or other incapacity of the Company or any other person) at such
rates and upon such terms as may from time to time be payable, (02) all
commissions, discounts, fees and other charges payable to the Bank and (03)
all sums, disbursements and other expenses paid or incurred by the Bank, in
relation to the Bank's provision of banking or credit facilities or other
financial accommodation (including, without limitation, pursuant to hire
purchase agreements and financial, equipment, motor vehicle and other leases)
to the Company, the implementation of the provisions of, or exercise of
rights under, the Charge or the perfection or enforcement (or attempted perfection
or enforcement) of the security or any other guarantees or encumbrances for
any indebtedness of the Company to the Bank， including all
reasonable legal costs and all other costs and expenses and any exchange
control premiums, penalties or expenditure on a full indemnity basis
(collectively "Liabilities”). |
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Name of Mortgagee: |
DBS Bank (Hong Kong) Limited (“Bank”) |
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Address of Mortgagee: |
11th Floor, The Center, 99 Queen’s Road Central, Hong Kong |
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Description of Property Mortgaged: |
Description of Property Mortgaged or Charged (1) By wav of first fixed
charge and agreement to charge : the Deposit and all right, title and interest of the Company
whatsoever, present and future, thereto and therein, together with any
certificates of deposit or other instruments or securities evidencing title,
or otherwise relating, thereto and any account to which the same is credited
(Clause 3 of the Charge). (2) By wav of set-off: any sum standing to the credit of any one or more of the accounts of the
Company with the Bank (whether current, deposit, loan or of any other nature
whatsoever and whether subject to notice or not and whether such sum or sums
is/are unmatured deposits and including, without limitation, the account to
which the Deposit is credited) wheresoever situate (Clause 5.5 of the
Charge). |
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2 |
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Company Name: |
Charmtex
International Limited |
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Instrument of Creating Mortgage: |
Deed of indemnity, charge over deposit(s) and set-off (the “Deed”) |
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Date of Creating Mortgage: |
2010-2-2 |
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Amount Secured: |
All moneys in respect of general banking facilities of whatever nature
and in whatever currency or currencies to any extent Bank of China (Hong
Kong) Limited (the “Bank”) shall think fit granted or to be granted to
Charmtex International Limited on such terms, conditions, manner and form and
for so long as the Bank may at its sole discretion think fit together with
interest accrued thereon. |
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Name of Mortgagee: |
BANK OF CHINA (HON(/^ KONG) LIMITED, a banking corporation incorporated
under the laws of Hong Kong, (the “Bank”） |
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Address of Mortgagee: |
I4lh Floor，Bank of China
Tower, No. I Garden Road, Hong Kong |
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Description of Property Mortgaged: |
By way of first fixed charge All the Company’s estate, right, title, claim, benefit and interest to
and in the Deposit(s) (as hereinafter defined) and all interest from time to
time payable thereon and together with all title deeds or documents relating
thereto. |
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 |
Due to the long holiday for Chinese New Year, we suffered
some difficulties in taking pictures in Hongkong. We will update the report
with pictures very soon after the Lantern Festival.
Since the on site visit to the supplied address has not returned yet, we
cannot confirm subject whether at this location or not.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.04 |
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|
1 |
Rs.96.02 |
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Euro |
1 |
Rs.70.42 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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 |
-- |
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.