MIRA INFORM REPORT

 

 

Report No. :

324883

Report Date :

03.06.2015

 

IDENTIFICATION DETAILS

 

Name :

PCC ASIA LLC

 

 

Registered Office :

25th Floor, 9 Wing Hong St., Cheung Sha Wan

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

08.01.1998

 

 

Com. Reg. No.:

F0008822

 

 

Legal Form :

Foreign Company

 

 

Line of Business :

Manufacturing and sale of cloth.

 

 

No. of Employee :

About 100 Employees (Hong Kong)

 

 

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 :

Exist

 

 

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

 

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 40.7 million in 2013, 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 48.5% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9% 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. As of year-end 2014, the Democracy protests that began in late September probably will have some adverse effects on economic growth, particularly retail sales.

 

Source : CIA

 

 

Contact Points

 

Company Name:

PCC Asia LLC

Supplied Name:

PCC ASIA LLC

Trading Address:

25th Floor, 9 Wing Hong St., Cheung Sha Wan, Hong Kong

Supplied Address:

25TH FLOOR 9WING HONG STREET CHEUNG SHA WAN,KOWLOON HONG KONG

Note: The exact name and address are as above.

 

 

Special Note

 

We have arranged the visit for the supplied address, but the result has not been come back. We will updated the report when receive the photos.

 

We contact the subject and confirmed subject is located at the above trading address with the relevant staff.

 

 

Company Identification Details

 

Registered Name:

PCC Asia LLC

Principal Place of Business in Hong Kong

25th Floor, 9 Wing Hong St., Cheung Sha Wan, Hong Kong

Telephone Number:

+852-2786-0090

Fax Number:

+852-2742-6965

E-mail:

pcca@pccasia.com

Date of Registration:

1998-1-8

Registered Number:

F0008822

Business Registration No.:

21438298

Registered Capital:

N/A

Legal Form:

Foreign Company

Place of Origin:

The United States of America

SITC Code:

69350--Cloth (including endless bands), grill, netting and fencing, of iron or steel wire; expanded metal of iron or steel (kg)

Principal Activities:

Manufacturing and sale of cloth, etc.

Staff:

About 100 Employees (Hong Kong)

Listed at Stock Exchange:

No

Date of Last Annual Return:

2015-1-8

Notes: Subject did not submit annual return to the local registry, thus the information on Registered Capital and Date of Last Annual Return are not available.

 

History

 

Subject was incorporated on 1998-1-8 with the registered number F0008822 as Foreign Company in Hong Kong.

 

 

Corporate Structure

 

Subject did not register any subsidiaries or branches; from other source we could not obtain the relevant information, either.

 

 

Shareholders

 

Subject is not the company of Hong Kong, thus we cannot obtain the detail information of shareholders from local registry of Hong Kong.

 

 

Management Information

 

Core Management

 

Detailed Information:

1

Name:

Longo Pietro

Address:

Peter Longo, 6 Justin Court, Saddle River, New Jersey 07458, United States of America

Position:

Director

Passport Number:

431188155

Issuing Country:

USA

2

Name:

Tesser Scott

Address:

#110 Dyer Court, Norwood, New Jersey 07648, United States of America

Position:

Director

Passport Number:

421728721

Issuing Country:

USA

3

Name:

Matsuura Katsuhiko

Address:

Flat E, 11F, Tower 6, Banyan Garden, 863 Lai Chi Kok Rd., Lai Chi Kok, Kowloon, Hong Kong

Position:

Director

ID Number:

K 632400(2)

4

Name:

Noble Richard William

Address:

317 Stoughton Avenue, Cranford, NJ07016, United States of America

Position:

Director & Secretary

Passport Number:

473470495

Issuing Country:

USA

 

Personnel Structure

 

Total Employees

About 100 Employees (Hong Kong)

 

 

Operation Information

 

Offices & Factories

 

 

Office

Address:

25th Floor, 9 Wing Hong St., Cheung Sha Wan, Hong Kong

 

Production Information

 

Subject is engaged in manufacturing of cloth

It is introduced that subject has two factories in the Mainland of China for production.

It is introduced that subject can provide custom services for customers.

 

Purchase Information

 

The raw materials for production are mainly purchased in the Mainland of China.

 

Sales Information

 

Subject is engaged in sale of cloth

The major products sold by the subject are clothing lining, printing lining, figured lining

The major sales regions of the subject are domestic market, India, Vietnam, Southeast Asia

It is introduced that subject’s group has offices in the Mainland of China, USA

Subject’s major customers are manufacturers of garments

 

Trademarks

 

1

Trade Mark No.:

300095544

Status:

Registered

Mark:

Precision Interlining

image

Mark Type:

Ordinary

Owner's Name, Address:

PCC ASIA LLC
UNIT 2501-2503, 25/F., BILLION PLAZA, 8 CHEUNG YUE STREET,
CHEUNG SHA WAN, KOWLOON,
HONG KONG.

Owner's Address
for Service:

S.W. WONG & ASSOCIATES
16TH FLOOR, WINCOME CENTRE,
39 DES VOEUX ROAD CENTRAL,
CENTRAL, HONG KONG.

Class No.:

24

Specification:

Class 24
interlining.

Date of Filing:
(D-M-Y)

17-10-2003

Date of Publication of
Application of Acceptance for
Registration:
(D-M-Y)

16-01-2004

Date of Registration:
(D-M-Y)

17-10-2003

Actual Date of
Registration:
(D-M-Y)

27-04-2004

Expiry date:
(D-M-Y)

16-10-2023

Date of entry:

27-04-2004

Matters:

Registration

2

Trade Mark No.:

2003B14928

Status:

Registered

Mark:

PCC


 

Mark Type:

Ordinary

Owner's Name, Address:

PCC ASIA LLC
25th Floor, 9 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong.
HONG KONG

Owner's Address
for Service:

S.W.WONG & ASSOCIATES
16/F., Wincome Centre, 39 Des Voeux Road Central, Central, Hong Kong.
HONG KONG

Agent's Address:

16/F., Wincome Centre, 39 Des Voeux Road Central, Central, Hong Kong.
HONG KONG

Class No.:

24

Specification:

Class 24
interlining.

Disclaimer /
Limitation /
Condition /
Others：

Registration of this Trade Mark shall give no right to the exclusive use of the letter "P".

Date of Filing:
(D-M-Y)

18-02-2003

Date of Registration:
(D-M-Y)

18-02-2003

Actual Date of
Registration:
(D-M-Y)

08-12-2003

Expiry date:
(D-M-Y)

18-02-2020

Date of entry:

08-12-2003

Matters:

Registration

3

Trade Mark No.:

2003B14927

Status:

Registered

Mark:

PCC

 

 

Mark Type:

Ordinary

Owner's Name, Address:

PCC ASIA LLC
25th Floor, 9 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong.
HONG KONG

Owner's Address
for Service:

S.W.WONG & ASSOCIATES
16/F., Wincome Centre, 39 Des Voeux Road Central, Central, Hong Kong.
HONG KONG

Agent's Address:

16/F., Wincome Centre, 39 Des Voeux Road Central, Central, Hong Kong.
HONG KONG

Class No.:

24

Specification:

Class 24
interlining.

Disclaimer /
Limitation /Condition

Others：

Registration of this Trade Mark shall give no right to the exclusive use of the letter "P".

Date of Filing:
(D-M-Y)

18-02-2003

Date of Registration:
(D-M-Y)

18-02-2003

Actual Date of
Registration:
(D-M-Y)

08-12-2003

Expiry date:
(D-M-Y)

18-02-2020

Date of entry:

08-12-2003

Matters:

Registration

4

Trade Mark No.:

2003B14847

Status:

Registered

Mark:

PCC

 

Mark Type:

Ordinary

Owner's Name, Address:

PCC ASIA LLC
25th Floor, 9 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong.
HONG KONG

Owner's Address
for Service:

S.W.WONG & ASSOCIATES
16/F., Wincome Centre, 39 Des Voeux Road Central, Central, Hong Kong.
HONG KONG

Agent's Address:

16/F., Wincome Centre, 39 Des Voeux Road Central, Central, Hong Kong.
HONG KONG

Class No.:

24

Specification:

Class 24
interlining.

Date of Filing:
(D-M-Y)

18-02-2003

Date of Registration:
(D-M-Y)

18-02-2003

Actual Date of
Registration:
(D-M-Y)

04-12-2003

Expiry date:
(D-M-Y)

18-02-2020

Date of entry:

04-12-2003

Matters:

Registration

5

Application No.:

303407607

Status:

Application Received

Mark:

PCC PCC PRECISION INTERLINING

 

 

Mark Type:

Ordinary

Applicant's Name,
Address:

PCC Asia LLC
25th Floor, 9 Wing Hong Street,
Cheung Sha Wan, Kowloon,
HONG KONG

Applicant's Address
for Service:

S.W.WONG & ASSOCIATES
16/F, Wincome Centre, 39 Des Voeux Road Central, Central, HONG KONG

Agent's Address:

16/F, Wincome Centre, 39 Des Voeux Road Central, Central, Hong Kong

Class No.:

24

Specification:

Class 24
Interlinings

6

Application No.:

302987038

Status:

Examined - First examination report issued

Mark:

Soft n Cool




 

Mark Type:

Ordinary

Applicant's Name,
Address:

PCC Asia LLC
25th Floor, 9 Wing Hong Street,
Cheung Sha Wan, Kowloon,
HONG KONG

Applicant's Address
for Service:

S.W.WONG & ASSOCIATES
16/F, Wincome Centre,
39 Des Voeux Road Central, Central,
HONG KONG

Agent's Address:

16/F, Wincome Centre,
39 Des Voeux Road Central, Central,
Hong Kong

Class No.:

24

Specification:

Class 24
Beddings of textile goods, pillowcases and bedding related accessories (bed linen)

Date of Filing:
(D-M-Y)

07-05-2014

7

 

Application No.:

302677834

Status:

Application Refused

Mark:

BedBugBanisher

 

Mark Type:

Ordinary

Applicant's Name,
Address:

PCC Asia LLC
25th Floor, 9 Wing Hong Street,
Cheung Sha Wan, Kowloon,
HONG KONG

Applicant's Address
for Service:

S.W.WONG & ASSOCIATES
16/F, Wincome Centre,
39 Des Voeux Road Central, Central,
HONG KONG

Agent's Address:

16/F, Wincome Centre,
39 Des Voeux Road Central, Central,
Hong Kong

Class No.:

24

Specification:

Class 24
Textiles and textile goods, not included in other classes; bed covers; table covers

Date of Filing:
(D-M-Y)

19-07-2013

8

Application No.:

302677807

Status:

Application Refused

Mark:

SecureZZZip

 

Mark Type:

Ordinary

Applicant's Name,
Address:

PCC Asia LLC
25th Floor, 9 Wing Hong Street,
Cheung Sha Wan, Kowloon,
HONG KONG

Applicant's Address
for Service:

S.W.WONG & ASSOCIATES
16/F, Wincome Centre,
39 Des Voeux Road Central, Central,
HONG KONG

Agent's Address:

16/F, Wincome Centre,
39 Des Voeux Road Central, Central,
Hong Kong

Class No.:

24

Specification:

Class 24
Textiles and textile goods, not included in other classes; bed covers; table covers

Date of Filing:
(D-M-Y)

19-07-2013

9

Application No.:

302677780

Status:

Application Refused

Mark:

SecureZZZip With BedBugBanisher Technology


Mark Type:

Ordinary

Mark Description:

The applicant claims the colours of yellow, brown and black as elements of the trade mark.

Applicant's Name,
Address:

PCC Asia LLC
25th Floor, 9 Wing Hong Street,
Cheung Sha Wan, Kowloon,
HONG KONG

Applicant's Address
for Service:

S.W.WONG & ASSOCIATES
16/F, Wincome Centre,
39 Des Voeux Road Central, Central,
HONG KONG

Agent's Address:

16/F, Wincome Centre,
39 Des Voeux Road Central, Central,
Hong Kong

Class No.:

24

Specification:

Class 24
Textiles and textile goods, not included in other classes; bed covers; table covers

Date of Filing:
(D-M-Y)

19-07-2013

 

 

Settlements

 

Purchase

 

Domestic Purchase

Products

Raw materials

Payment Terms

T/T, Cash

 

Import

 

Subject has little import.

 

Sales

 

Domestic Markets

Product

Cloth

Selling Terms

T/T, Cash

 

Export

Product

Cloth

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

 

Civil Litigation

 

Date

Court Name

Court No.

Claimant/Applicant

Answering/Respondent

Nature

2015-02-24

District Court Civil Action

755

PCC ASIA LLC 
c/o 
25/F, 
9 Wing Hong Street, 
Cheung Sha Wan, Kln 
c/o 
Winnie Leung & Co 
(a firm) 
(DCCJ)

LONGWAY TRANSPORTATION LTD (D1) 
CHEN JIAN HUA (D2) 
c/o 
Flat A207, 1/F, 
Cheong Wah Factory Building, 
39-41 Sheung Heung Road, 
To Kwa Wan, Kln (D1) 
c/o 
Flat 1602, 
Hiu Kwai House, 
Kwai Chung Estate, 
Kwai Chung, NT (D2)

TORT 

2014-01-18

District Court ECC

95

Lam Wai Fung
c/o
Flat C, 6/F,
Manniny Theatre Building,
57 Yuk Wah Crescent,
Tsz Wan Shan, Kln
c/o
Au Yeung, Cheng, Ho & Tin
(a firm)
(DCEC)
(Applicant)

PCC Asia LLC
c/o
(1) 25/F,
9 Wing Hong Street,
Cheung Sha Wan, Kln
(2) Authorized representative,
Hogan Lovells, 11/F,
One Pacific Place,
88 Queensway, HK
*=Employees' Compensation Case
(Respondent)

*
#

2010-12-01

Small Claim Tribunal

048772/10

Katsuhiko Matsuura 
t/a 
PCC Asia LLC 
(SCTC048772/10)

Leong Kuan Pio 
t/a 
Signdesign Production Company

Compensation

2008-08-05

District Court Personal Injury Case

595

CHAN CHI HAU DANNY
DCPI 595/2008

PCC ASIA LLC
c/o
(1) Units 2501-2503,
Billion Plaza,
8 Cheung Yue Street,
Cheung Sha Wan, Kln
(2) 23/F,
Cheung Kong Centre,
No.2 Queen's Road,
Central, HK
*=Checklist Review Notice

*

2008-04-10

Small Claim Tribunal

054978/07

Zeta Logistics Far East Ltd.
(SCTC054978/07)

PCC Asia LLC

Service Charge

2007-11-20

Small Claim Tribunal

054978/07

Zeta Logistics Far East Ltd.
(SCTC054978/07)

PCC Asia LLC

SERVICE CHARGE

2006-06-26

High Court Commercial Action

234


CHAN CHI HAU 
DANNY
(LBTC) 
(Parties)

PCC ASIA LLC 
(LBTC) 
(Parties)

Not Stated

2006-06-21

High Court Commercial Action

234

CHAN CHI HAU 
DANNY
(LBTC) 
(Parties)

PCC ASIA LLC 
(LBTC) 
(Parties)

Not Stated

2006-04-01

High Court Commercial Action

234

CHAN CHI HAU 
DANNY
(LBTC) 
(Parties)

PCC ASIA LLC 
(LBTC) 
(Parties)

Not Stated

2006-02-07

High Court Commercial Action

234

CHAN CHI HAU 
DANNY
(LBTC) 
(Parties) 

c/o 
Room 1803 
Pak Fung House 
Fung Tak Estate 
Diamond Hill 
Kowloon

PCC ASIA LLC 
(LBTC) 
(Parties) 
c/o 
(1) Unit 2501-2503 Billion Plaza 
8 Cheung Yue Street Cheung Sha 
Wan Kowloon 
(2) authorized representative: 
Lovells 23/F Cheung Kong Centre 
No 2 Queen's Rd Central HK

Not Stated

2005-04-25

District Court Personal Injury Case

216

Chan Chi Hau 
Danny 
Room 1803 
Pak Fung House 
Fung Tak Estate 
Diamond Hill 
Kowloon 
(DCPI)

PCC Asia LLC 
(1) Unit 2501-2503 Billion Plaza 
8 Cheung Yue Street Cheung Sha 
Wan Kowloon 
(2) authorized representative 
Lovells 23/F Cheung Kong Centre 
No 2 Queen's Rd Central HK

Damage

2005-02-02

District Court Civil Action

509

PCC Asia LLC 
Rooms 2501-2503 
Brilliam Plaza, 
8 Cheung Yue 
Street, 
Sheung Sha Wan, 
Kln 
Matsuura Katsuhiko 
Flat A, 43/F, 
Tower 1, 
Central Park, 
18 Hoi Ting Road, 
Kln

Terry Parking Ltd 
Ground Floor, Kent Place, 
8 Yen Chow Street, 
Shamshuipo, Kln

Damage

 

Mortgage Record

 

1

Company Name:

PCCAsia LLC (the “Pledgor”)

Instrument of Creating Mortgage:

PCC Asia Domestic Factoring Agreement (the “Agreement”)

Date of Creating Mortgage:

2009-6-16

Amount Secured:

The Obligations (existing and future indebtedness and obligations to the Lender, whether absolute or contingent, whether arising under the Agreement, the Loan Agreement, any of the other Loan Documents, or any other agreement or arrangement between the Lender, by operation of law or otherwise, and specifically including, without limitation, all "Obligations”)

Name of Mortgagee:

The CIT Group/Commercial Services, Inc. (the “Lender”)

Address of Mortgagee:

11 West 42nd Street New York, New York 10036

2

Company Name:

PCC Asia LLC (the “Pledgor”)

Instrument of Creating Mortgage:

Second Amended and Restated Export Factoring Agreement

Date of Creating Mortgage:

2009-6-5

Amount Secured:

The Obligations (as defined in the Agreement).

By Section 12.2 of the Agreement, the Pledgor acknowledged, confirmed and agreed that (i) to the extent that the Obligations (as defined in the Agreement) purported to be secured under the First Restated Agreement or the Agreement are Obligations (as defined in the Original Agreement) which are secured under the Original Agreement, such Obligations (as defined in the Original Agreement) shall be treated as continuing to be secured under the Original Agreement, and (ii) to the extent that any Obligations (as defined in the Agreement) secured under the First Restated Agreement or the Agreement are not secured as a part of the Obligations (as defined in the Original Agreement) under the Original Agreement, such Obligations (as defined in the Agreement) shall be secured under the Agreement.

Name of Mortgagee:

The CIT Group/Commercial Services, Inc. (the “Lender”)

Address of Mortgagee:

11 West 42nd Street New York, New York 10036

Description of Property Mortgaged:

The attached Schedule refers to covenants by, and restrictions on, the Pledgor which protect and further define the charges created by the Agreement and which must be read as part of those charges.

3

Company Name:

PCC Asia LLC (the “Pledgor”)

Instrument of Creating Mortgage:

Amended and Restated Security Agreement (the “Agreement”)

Date of Creating Mortgage:

2009-6-5

Amount Secured:

The Secured Obligations.

By Section 1(c) of the Agreement, the Pledgor acknowledged, confirmed and agreed that (i) to the extent that the Secured Obligations purported to be secured under the Agreement are (1) Obligations (as defined in the Equipment Security Agreement) which are secured under the Equipment Security Agreement and/or (2) Liabilities (as defined in the Inventory and Accounts Security Agreement) which are secured under the Inventory and Accounts Security Agreement, such Obligations (as defined in the Equipment Security Agreement) and/or Liabilities (as defined in the Inventory and Accounts Security Agreement) shall be treated as continuing to be secured under the Equipment Security Agreement and/or the Inventory and Accounts Security Agreement (as the case may be), and (ii) to the extent that any Secured Obligations secured under the Agreement are not secured as a part of (1) the Obligations (as defined in the Equipment Security Agreement) under the Equipment Security Agreement or (2) the Liabilities (as defined in the Inventory and Accounts Security Agreement) under the Inventory and Accounts Security Agreement, such Secured Obligations shall be secured under the Agreement.

Name of Mortgagee:

The CIT Group/Commercial Services, Inc. (the “Lender”)

Address of Mortgagee:

11 West 42nd Street New York, New York 10036

Description of Property Mortgaged:

The attached Schedule refers to covenants by, and restrictions on, the Pledgor which protect and further define the charges created by the Agreement and which must be read as part of those charges.

4

Company Name:

PCC Asia LLC (the “Pledgor”)

Instrument of Creating Mortgage:

Stock Pledge Agreement (the “Agreement”)

Date of Creating Mortgage:

2009-6-5

Amount Secured:

The Obligations (as defined in the Agreement).

"Obligations” shall mean all payment and performance duties, liabilities, and obligations of the Borrowers or either or both of them to the Lender, whether now existing or hereafter created, incurred, or arising, and whether direct or indirect, absolute or contingent, primary or secondary, due or to become due including, without limitation, all liabilities now existing or at any time or times hereafter owing to the Lender under the Loan Agreement, the Notes, the Borrower Guaranty Agreements or the other Loan Documents.

Name of Mortgagee:

The CIT Group/Commercial Services, Inc. (the “Lender”)

Address of Mortgagee:

11 West 42nd Street New York, New York 10036

Description of Property Mortgaged:

The attached Schedule refers to covenants by, and restrictions on, the Pledgor which protect and further define the charges created by the Agreement and which must be read as part of those charges.

 

 

Special Note

 

Interview Details

Name

Ms. Lao

Position:

Manager

Department:

Sales Department

 

 

Industry Information

 

69350--Cloth (including endless bands), grill, netting and fencing, of iron or steel wire; expanded metal of iron or steel (kg)

Unit: HKD/000

 

2014.12

2014.01~2014.12

 

Quantity

Value

Quantity

Value

Imports

The Mainland of China

1,465,508

10,035

14,949,458

101,009

Germany

995

128

20,572

4,596

Japan

790

1,333

11,040

11,969

South Korea

18,768

162

61,262

595

Malaysia

142

82

2,068

1,157

Exports

The Mainland of China

308,165

3,892

1,099,355

29,930

Japan

145

16

1,716

96

Malaysia

145

37

1,273

417

Singapore

372

120

1,520

1,434

USA

110

23

53,951

1,011

 

 

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

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

2014

4,219,046

55,283

3,617,468

3,672,751

+3.2

-546,295

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

2014.07

368,293

5,120

321,040

326,160

+6.8

-42,132

2014.08

358,750

5,289

321,937

327,225

+6.4

-31,525

2014.09

382,355

4,153

327,833

331,986

+4.5

-50,369

2014.10

381,569

4,392

327,335

331,727

+2.7

-49,842

2014.11

378,946

4,701

322,082

326,783

+0.4

-52,163

2014.12

372,007

4,050

308,705

312,755

+0.6

-59,253

 

*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.83

UK Pound

1

Rs.97.10

Euro

1

Rs.69.74

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.