MIRA INFORM REPORT
|
Report No. : |
304638 |
|
Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
D & G INDUSTRIAL COMPANY LIMITED |
|
|
|
|
Registered Office : |
Unit E, 20/F, Ford Glory Plaza, 37-39 Wing Hong Street, Cheung Sha Wan |
|
|
|
|
Country : |
Hong Kong |
|
|
|
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Date of Incorporation : |
04.08.1994 |
|
|
|
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Com. Reg. No.: |
18448868 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
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Line of Business : |
engaged in Trading of Garment Accessories including Jeans Button, Jeans Rivets, Snap Fasteners, Pronged Snap Fasteners, Sew-On Buttons, Eyelets, Metal Plates, Dress Hooks, Metal Buckles & Plastic Snap Buttons |
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|
|
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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
|
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 : |
Exists |
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 |
Contact Points
|
Company Name (in Chinese): |
|
|
Company Name (in English): |
D & G Industrial Company Limited |
|
Supplied Name: |
D & G INDUSTRIAL CO., LTD. |
|
Trading Address: |
Unit E, 20/F, Ford
Glory Plaza, 37-39 Wing Hong Street, Cheung Sha Wan, Hong Kong |
|
Supplied Address: |
ROOM: 1007-1012, 10/F, STERLING CENTRE, 11 CHEUNG YUE STREET, CHEUNG
SHA WAN, KO HONG KONG |
Note: The supplied address is the former address,
and the exact name and address are as above.
Credit Summary
|
Credit Opinion: |
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit E, 20/F,
Ford Glory Plaza, 37-39 Wing Hong Street, Cheung Sha Wan, Hong Kong |
|
Telephone Number: |
+852-2410-9928 |
|
Fax Number: |
+852-2410-0439 |
|
E-mail: |
|
|
Date of Registration: |
1994-8-4 |
|
Registered Number: |
487344 |
|
Business Registration No.: |
18448868 |
|
Paid-up Capital: |
HKD 500,000 (USD 64,500) = 500,000 Shares@ HKD 1 (As of 2015.01, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
89983--Press-Fasteners, Snap-Fasteners and
Press-Studs and Parts Therefor; Buttons (KG) |
|
Principal Activities: |
engaged in
Trading of Garment Accessories including Jeans Button, Jeans Rivets, Snap
Fasteners, Pronged Snap Fasteners, Sew-On Buttons, Eyelets, Metal Plates,
Dress Hooks, Metal Buckles & Plastic Snap Buttons |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-8-4 |
Notes: Subject declined to disclose its staff number; from other source we
cannot obtain the relevant information, either.
History
Subject was incorporated on 1994-8-4 with the registered number 487344 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Parent Company
|
Name: |
D&G (Holding) Limited |
|
Address: |
Unit E, 20/F, Ford Glory Plaza, 37-39 Wing
Hong Street, Cheung Sha Wan, Hong Kong |
|
Date of Registration: |
2008-9-16 |
|
Registered Number: |
1272917 |
|
Business Registration No.: |
39807514 |
|
Telephone Number: |
+852-2410-9928 |
|
Fax Number: |
+852-2410-0439 |
|
E-mail: |
Major Related
Companies
|
1.
D&G Button Products
Ltd. Baima Zhenxing Industrial Zone, Nan Cheng, Dongguan, Guangdong, China.
523080 Tel: (86-769) 2298 1888 Fax: (86-769) 2298 1881 E-mail: factory@dngbuttons.com.cn
2. D&G Garment Accessories (Nantong) Co., Ltd. 66, Western Blvd, Hai-an Industrial Zone, Nantong City, Jiangsu, China.
226600 Tel: (86-513) 8875 6666 Fax: (86-513) 8875 3666 E-mail: nantong@dngbuttons.com.cn
3. D&G BUTTON PRODUCTS (INDIA) PVT., LTD. Insignya Tower, EN-1, 1st Floor, Sector-V, Salt Lake City, Kolkata,
India. 700091 Tel: (91-33) 2210 7790 Fax: (91-33) 2210 9328 E-mail: kamal@dngbuttons.com
/ kritika@dngbuttons.com |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
D&G (Holding) Limited |
500,000 |
100% |
|
Total |
500,000 |
100% |
Major Shareholder
Information:
|
Name: |
D&G (Holding) Limited |
|
Address: |
Unit E, 20/F, Ford Glory Plaza, 37-39 Wing
Hong Street, Cheung Sha Wan, Hong Kong |
Management Information
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Lai Ha Sang |
|
Address: |
Flat B, 23/F Block 7 Phase 3, Belvedere Garden,
Tsuen Wan, New Territories Hong Kong |
|
Position: |
Director |
|
ID Number: |
D475020(A) |
|
2 |
|
|
Name: |
Wong Pui Chu |
|
Address: |
29/F Flat G, Tower 1 The Apex, 33 Wo Yi Hop
Rd, Kwai Chung NT Hong Kong |
|
Position: |
Director |
|
ID Number: |
C440728(6) |
|
3 |
|
|
Name: |
Chen Yi Kwan |
|
Address: |
Flat C, 17/F, Block 6, Phase 2, Belvedere
Garden, Tsuen Wan, New Territories Hong Kong |
|
Position: |
Secretary/Director |
|
ID Number: |
Z307107(4) |
Operation Information
Offices &
Factories
|
|
Office |
|
Address: |
Unit E, 20/F,
Ford Glory Plaza, 37-39 Wing Hong Street, Cheung Sha Wan, Hong Kong |
Premises
Information
Office address:
|
Address: |
Workshop E On 20th Floor Ford Glory Plaza No.37 Wing Hong Street Kowloon |
|
Owners: |
World Victoria Limited (Tenant in common (1/2)) D & G Property Investment Limited
(Tenant in common (1/2)) |
|
Memorial Number: |
10072601170057 Assignment With Plan |
|
Date of Instrument: |
2010-6-30 |
|
Date of Registration: |
2010-7-26 |
|
Consideration Value: |
HKD 10,900,000.00 |
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
13012200200167 |
|
Date of Instrument: |
2012-12-27 |
|
Date of Registration: |
2013-1-22 |
|
Nature: |
Rental Assignment |
|
In Favor of: |
|
|
2 |
|
|
Memorial No.: |
13012200200150 |
|
Date of Instrument: |
2012-12-27 |
|
Date of Registration: |
2013-1-22 |
|
Nature: |
Legal Charge/Mortgage |
|
In Favor of: |
Citibank, N.A. |
|
Consideration: |
All Moneys |
|
3 |
|
|
Memorial No.: |
10072102370163 |
|
Date of Instrument: |
2010-6-30 |
|
Date of Registration: |
2010-7-21 |
|
Nature: |
Sub-Deed Of Mutual Covenant With
Plan |
Production
Information
l The subject is a trader of garment accessories without any production
activities.
l It is introduced that subject’s related companies has factories in
Dongguan City, Guangdong Province and Nantong City, Jiangsu Province, the
mainland of China for production.
Purchase
Information
l It is introduced that subject purchases its products mainly from its
related companies’ factories in Dongguan City, Guangdong Province and Nantong
City, Jiangsu Province, the mainland of China.
Sales Information
l The subject is mainly engaged in sales of garment accessories
l Subject’s major products are jeans button, jeans rivets, snap fasteners,
pronged snap fasteners, sew-on buttons, eyelets, metal plates, dress hooks,
metal buckles & plastic snap buttons
l Subject’s main selling territory includes Asia, Europe, America and etc.
l Subject’s major customers are manufacturers of garments, bags and etc.
l Subject’s products are applied into jeans, handbags and etc.
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Garment accessories and etc. |
|
Payment Terms |
Cash, T/T and etc |
2.
Import
The subject has little import.
Sales
1.
Domestic Markets
|
Product |
Garment accessories and etc. |
|
Selling Terms |
Cash, T/T and etc |
2.
Export
|
Product |
Garment accessories and etc. |
|
Selling Terms |
L/C, T/T and 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 Mr.Ng 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: |
2009-06-13 |
|
Court Name: |
District Court Civil Action |
|
Court No.: |
2814 |
|
Claimant: |
New Million International Ltd c/o 30/F, Comweb Plaza, 12 Cheung Yue Street, Cheung Sha Wan, Kln c/o Ho & Wong (a firm) |
|
Defendant: |
D & G Industrial Co Ltd c/o 2/F, Units 1 & 2, Charm Centre, 700 Castle Peak Road, Kln |
|
Reason: |
Lardlord and tenant |
|
2 |
|
|
Date: |
2005-09-14 |
|
Court Name: |
Small Claim Tribunal |
|
Court No.: |
072972 |
|
Claimant: |
Far East Button & Belt Mfg. Fty. Ltd |
|
Defendant: |
D & G Industrial Co. Ltd. |
|
Reason: |
Good Sold & Delivered |
|
3 |
|
|
Date: |
2005-04-02 |
|
Court Name: |
Small Claim Tribunal |
|
Court No.: |
008339 |
|
Claimant: |
Meiying Fan |
|
Defendant: |
D & G Industrial Co. Ltd. |
|
Reason: |
RENT |
Mortgage Record
|
Company Name: |
D & G Industrial Company Limited |
|
Instrument of Creating Mortgage: |
Deposit deed |
|
Date of Creating Mortgage: |
2011-2-11 |
|
Amount Secured: |
All moneys now or at any time in the future owing
by the Company (the “Principal(s)”) (whether alone or jointly with any other
person(s)) to Citibank or any Affiliate) under any banking, derivative,
foreign exchange, trade, margin, guarantee or other facility or facilities or
any account and all other liabilities (whether actual or contingent, present
or future, as principal or surety or in some other capacity) {the “Facility”
or “Facilities”), including, any and all the obligations of the Company and
the Principal(s) under any Facility/ Facilities pre-existing prior to the
date of execution of this Deed |
|
Name of Mortgagee: |
Citibank, N. A. |
|
Address of Mortgagee: |
21/F, Tower 1 & 2，The Gateway, Harbour City, Tsimshatsui, Kowloon, Hong Kong |
|
Description of Property Mortgaged: |
By way of a first fixed charge and as a
continuing security for the Obligations, the Company charges and assigns
absolutely all its rights, title to and interest in the Accounts and all
Deposits from time to time in the Accounts and/or comprising the Accounts
maintained with Citibank, N.A., any branch and/or Citibank (Hong Kong)
Limited. |
Special Note
Interview
Details
|
Name |
Mr. Ng |
|
Department: |
Sales Department |
Industry Information
89983--Press-Fasteners, Snap-Fasteners and
Press-Studs and Parts Therefor; Buttons (KG)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
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 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
Unit E, 20/F, Ford Glory Plaza, 37-39 Wing Hong Street, Cheung Sha Wan,
Hong Kong
Unit E, 20/F, Ford Glory Plaza, 37-39 Wing Hong Street, Cheung Sha Wan,
Hong Kong
Unit E, 20/F, Ford Glory Plaza, 37-39 Wing Hong Street, Cheung Sha Wan,
Hong Kong
Unit E, 20/F, Ford Glory Plaza, 37-39 Wing Hong Street, Cheung Sha Wan,
Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
UK Pound |
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.