MIRA INFORM REPORT
|
Report No. : |
304637 |
|
Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
LARA FASHION LIMITED |
|
|
|
|
Registered Office : |
10 Floor, North Tower, World Finance Center, Harbour City, 19 Canton Road, Kowloon, |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
10.09.2008 |
|
|
|
|
Com. Reg. No.: |
39792470 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of apparel |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
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 |
|
Payment Behaviour : |
No complaints |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Company
name and address
|
Company Name: |
LARA FASHION
LIMITED |
|
Supplied Name: |
LARA FASHIONS
LIMITED |
|
Trading Address: |
10 Floor, North Tower, World Finance Center, Harbour City, 19 Canton Road, Kowloon, Hong Kong |
|
Supplied Address: |
10 FLOOR, NORTH TOWER, WORLD FINANCE CENTER, HARBOUR CITY, 19 CANTON ROAD, KOW HONG KONG |
Note: The exact name and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered
Address: |
10 Floor, North Tower, World
Finance Center, Harbour City, 19 Canton Road, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2270-8500/2270-8470 |
|
Fax Number: |
+852-2271-8937 |
|
Date of
Registration: |
2008-9-10 |
|
Registered Number: |
1271791 |
|
Business Registration
No.: |
39792470 |
|
Paid-up Capital: |
HKD 10,000
(USD1,290 ) = 10,000 Shares@ HKD 1 As of 2015.1, 1
HKD = 0.129 USD) |
|
Legal Form: |
Private Limited
Liability Company |
|
SITC Code: |
84587-- Articles Of
Apparel, Men's Or Boys', N.E.S., Not Knitted Or Crocheted (No.) |
|
Principal
Activities: |
Trading of
apparel, etc. |
|
Staff: |
N/A |
|
Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
2014-9-10 |
Notes: Subject declined to disclose the number of staff, and from other source
we cannot obtain the information, either.
History
Subject was
incorporated on 2008-9-10 with the registered number 1271791 as Private Limited
Liability Company in Hong Kong.
Corporate
Structure
Parent Company
|
Name: |
Newry Limited |
|
Address: |
10 Floor, North Tower, World Finance Center, Harbour City,
19 Canton Road, Kowloon, Hong Kong |
|
Tel: |
+852-2270-8500 |
|
Fax: |
+852-2271-8937 |
|
Principal
Activities: |
Sale of garments
of women, men and kids, etc. |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Newry Limited |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder Information:
|
Name: |
Newry Limited |
|
Address: |
10 Floor, North Tower, World Finance Center, Harbour City,
19 Canton Road, Kowloon, Hong Kong |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Makhija Vijay
Manohar |
|
Address: |
Flat C, 34F, Block
2, Estoril Court, 55 Garden Rd., Hong Kong |
|
Position: |
Director |
|
ID Number: |
XG386873(0) |
|
2 |
|
|
Name: |
Makhija Sanjay
Manohar |
|
Address: |
Flat B, 33F, No.
3, Garden Terrace, 8A Old Peak Rd., Hong Kong |
|
Position: |
Director &
Secretary |
|
ID Number: |
XG386874(9) |
Operation
Information
Offices & Factories
|
|
Office |
|
Address: |
10 Floor, North Tower, World Finance Center, Harbour City,
19 Canton Road, Kowloon, Hong Kong |
Premises Information
The subject is
located at 10 Floor, North Tower, World Finance Center, Harbour City, 19
Canton Road, Kowloon, Hong Kong.
However, we cannot get any related registration information for this address in
the official authorities.
Production Information
Subject is engaged in
trading of apparel, etc. without any production activities, etc.
It is introduced
that subject has corporate factory in the Mainland of China for production, but
we cannot obtain the detail information.
Purchase Information
It is introduced
that subject’s products are mainly purchased in the Mainland of China.
Sales Information
Subject is a trader
of apparel, etc.
The major products
of the subject are tops, bottoms, outerwear, travel gear, headwear, footwear,
etc.
Subject’s apparel is
for women, men and kids, etc.
The sales regions of
the subject are domestic market and abroad.
Subject’s major
customers are garment shops, supermarkets, shopping malls, etc.
Settlements
Purchase
Domestic Purchase
|
Products |
Apparel, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
Subject has little import.
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
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.
|
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 |
Ms. He |
|
Position: |
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 |
||
|
|
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: 10 F, North Tower, World Finance Center, Harbour City, 19 Canton Road, Kowloon, Hong Kong
North Tower, World Finance Center, Harbour City, 19 Canton
Road, Kowloon, Hong Kong
10 F, North Tower, World Finance Center, Harbour City, 19
Canton Road, Kowloon, Hong Kong
10 F, North Tower, World Finance Center, Harbour City, 19
Canton Road, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIS |
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.