MIRA INFORM REPORT
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Report No. : |
325819 |
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Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
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Name : |
KAPO'S TEXTILES COMPANY LIMITED |
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Registered Office : |
No. 2, 15/F., Wang Lung Industrial Building, 48-56 Wang Lung Street, Tsuen Wan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.11.1990 |
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Com. Reg. No.: |
292803 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in trading of blended fabric, cotton fabric and vegetable fibre and yarn, etc. from public files. But which is not confirmed by the subject. |
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No of Employees : |
Not Available |
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
|
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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
Contact
Points
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Company Name (in Chinese): |
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Company Name (in English): |
Kapo's Textiles Company Limited |
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Supplied Name: |
KAPOS TEXTILES COMPANY LTD |
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Trading Address: |
No. 2, 15/F., Wang Lung Industrial Building,
48-56 Wang Lung Street, Tsuen Wan, New Territories, Hong Kong |
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Supplied Address: |
No 2 15/F Wang Lung Ind Building 48-56 Wang Lung Street Tsuen Wan New
Terrotories |
Note: The exact name
and address are as above.
Credit
Summary
|
Credit Opinion: |
In view of the absence
of information about subject’s operation, caution should be exercised. |
Special
Note
We confirmed the name and address with relevant staff of subject, but he declined to disclose any further information including the operation information, and declined to transfer the telephone to other people.
According to the supplied name, we found subject is engaged in trading of blended fabric, cotton fabric and vegetable fibre and yarn, etc. from public files. But which is not confirmed by the subject.
We found subject’s registration information as follows for reference.
Company Identification Details
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Registered Name: |
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Registered Address: |
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Telephone Number: |
+852-2407-0778 |
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Fax Number: |
+852-2407-7478 |
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Date of Registration: |
1990-11-30 |
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Registered Number: |
292803 |
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Business Registration No.: |
14138271 |
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Paid-up Capital: |
HKD 2,000,000 (USD 258,000) = 2,000,000 Shares@ HKD 1 (As of 2015.6, 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: |
2014-11-30 |
Note: Subject declined to disclose the number of
staff and principle activities, and we cannot obtain the information from other
source, either.
History
Subject was incorporated on 1990-11-30 with the registered number 292803 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 (%) |
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|
Lau Po Kwong |
1,800,000 |
90% |
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Cheung Yuen Yee, Alice |
200,000 |
10% |
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Total |
2,000,000 |
100% |
Major
Shareholders’ Information:
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1 |
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Name: |
Lau Po Kwong |
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Address: |
Flat E, G/F., Block C3, Hong Lok Yuen, Tai
Po, New Territories, Hong Kong |
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2 |
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Name: |
Cheung Yuen Yee, Alice |
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Address: |
Rm. 2316, 23/F., Ching Ngai Court, Ya Ying
Chau St., Tsing Yi, New Territories, Hong Kong |
Management
Information
Core
Management
Detailed
Information of Directors:
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1 |
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Name: |
Lau Po Kwong |
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Address: |
Flat E, G/F., Block C 3, Hong Lok Yuen, Tai
Po, New Territories, Hong Kong |
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Position: |
Director |
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ID Number: |
E 731967(7) |
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2 |
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Name: |
Cheung Yuen Yee, Alice |
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Address: |
Room 2316, 23/F., Ching Ngai Court, Ya Ying
Chau Street, Tsing Yi, New Territories, Hong Kong |
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Position: |
Director & Secretary |
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ID Number: |
C 503261 (8) |
Operation
Information
Offices
& Factories
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|
Office |
|
Address: |
No. 2, 15/F.,
Wang Lung Industrial Building, 48-56 Wang Lung Street, Tsuen Wan, New
Territories, Hong Kong |
Premises
Information
Office address:
|
Address: |
Workshop No.2 on 15/F, Wang Lung Industrial Building,
No.11 Lung Tak Street, Tsuen Wan New Territories |
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Owners: |
Kapo's Textiles Company Limited |
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Memorial Number: |
TW1261109 |
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Date of Instrument: |
1998-12-29 |
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Date of Registration: |
1999-01-15 |
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Consideration Value: |
HKD 818,966 |
History
of Premises Owners’
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1 |
|
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Memorial No.: |
TW1452339 |
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Date of Instrument: |
2002-01-30 |
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Date of Registration: |
2002-02-25 |
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Nature: |
Mortgage to secure general banking
facilities |
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In Favor of: |
Dao Heng Bank Limited |
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Consideration: |
-- |
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2 |
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Memorial No.: |
TW1250815 |
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Date of Instrument: |
1998-11-27 |
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Date of Registration: |
1998-12-01 |
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Nature: |
Agreement for sale and purchase |
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In Favor of: |
Kapo's textiles company limited |
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Consideration: |
HKD 818,966 |
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3 |
|
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Memorial No.: |
TW912358 |
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Date of Instrument: |
1993-08-13 |
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Date of Registration: |
1993-09-02 |
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Nature: |
Agreement for sale & purchase |
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In Favor of: |
Ma Wang Leung Wong Yat Ping Ma Kwok Keung |
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Consideration: |
HKD 1,480,000 |
Operation
Information
From public files, we found subject is engaged in trading of blended fabric, cotton fabric and vegetable fibre and yarn, etc. But which is not confirmed by the subject.
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, and 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
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
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Name |
The Operator |
Attachment
We confirmed subject located at the supplied address as follows with the relevant staff of subject, but there is no name on the wall.
Wang Lung Industrial Building, 48-56 Wang Lung Street, Tsuen Wan, New Territories, Hong Kong
No. 2, 15/F., Wang Lung Industrial Building, 48-56 Wang Lung Street, Tsuen Wan, New Territories, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.93 |
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|
1 |
Rs. 98.26 |
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Euro |
1 |
Rs. 72.36 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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.