MIRA INFORM REPORT

 

 

Report No. :

325956

Report Date :

18.06.2015

 

IDENTIFICATION DETAILS

 

Name :

CITI-TEX TRADING IMPORT & EXPORT CO LTD

 

 

Registered Office :

55 St 286 Olympic, Khan Chamkarmorn, Phnom Penh

 

 

Country :

Cambodia

 

 

Date of Incorporation :

07.11.2002

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Subject is trader of textiles & raw material

 

 

No. of Employee :

23

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Cambodia

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CAMBODIA - ECONOMIC OVERVIEW

 

Since 2004, garments, construction, agriculture, and tourism have driven Cambodia's growth. GDP climbed at least 7% per year between 2011 and 2014. The garment industry currently employs about 500,000 people and accounts for some 70% of Cambodia's total exports. In 2005, exploitable oil deposits were found beneath Cambodia's territorial waters, representing a potential revenue stream for the government, if commercial extraction becomes feasible. Mining also is attracting some investor interest and the government has touted opportunities for mining bauxite, gold, iron and gems. The tourism industry has continued to grow rapidly with foreign arrivals exceeding 2 million per year since 2007 and reaching over 3 million visitors in 2012. Cambodia, nevertheless, remains one of the poorest countries in Asia and long-term economic development remains a daunting challenge, inhibited by endemic corruption, limited educational opportunities, high income inequality, and poor job prospects. Approximately 4 million people live on less than $1.25 per day, and 37% of Cambodian children under the age of 5 suffer from chronic malnutrition. More than 50% of the population is less than 25 years old. The population lacks education and productive skills, particularly in the impoverished countryside, which also lacks basic infrastructure. The Cambodian Government is working with bilateral and multilateral donors, including the Asian Development Bank, the World Bank and IMF, to address the country's many pressing needs; more than 50% of the government budget comes from donor assistance. A major economic challenge for Cambodia over the next decade will be fashioning an economic environment in which the private sector can create enough jobs to handle Cambodia's demographic imbalance. Worker unrest over labor conditions and the minimum monthly wage will prove challenging.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

Organization Name

:

CITI-TEX TRADING IMPORT & EXPORT CO LTD

Address

:

55 St 286 Olympic, Khan Chamkarmorn, Phnom Penh

Country

:

Cambodia

Phone (S)

:

[+855] 23-218417

Facsimile

:

[+855] 23-218417

Email

:

darasam1@yahoo.com

Primary Business Activity

:

Trader

Key Industry

:

Textiles & Raw Material

 

Key Facts

 

Registered Legal Address

:

55 St 286 Olympic, Khan Chamkarmorn, Phnom Penh

Operational Address

:

55 St 286 Olympic, Khan Chamkarmorn, Phnom Penh

Issuing Authority

:

Ministry of Commerce - Commercial Registry

License Number

:

6016/02P

License Status

:

License exists - Normal.

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Company Limited

Legal Form - Abbreviation

:

CO LTD

Operational Status of Business

:

Normal

Date of Registration

:

7 Nov, 2002

Employees

:

23

Capital

:

US$ 4,992

 

Report Details

 

 

Country

:

Cambodia

Business Entity Name

:

CITI-TEX TRADING IMPORT & EXPORT CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Textiles & Raw Material

Office Contact Details

Operating Address

:

55 St 286 Olympic, Khan Chamkarmorn, Phnom Penh

Tel

:

[+855] 23-218417

Mobile

:

[+855]-12205905

 

:

[+855]-12928172

Fax

:

[+855] 23-218417

Email

:

darasam1@yahoo.com

 

 

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Te-Chi Heang

Nationality

:

Cambodian

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mrs. Te-Sou Heang

Cambodian

Vice Chairman

-

2

Mr. Chihout Te

Cambodian

Manager

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI02357940

Name

:

Mrs. Te-Sou Heang

 

 

 

Management Details - 2

Personal Unique Identifier

:

MI03864002

Name

:

Mr. Chihout Te

 

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI02357939

Name

:

Mr. Te-Chi Heang

 

2

 

 

Personal Unique Identifier

:

MI02357940

Name

:

Mrs. Te-Sou Heang

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Reference checking for the purpose of establishing CITI-TEX TRADING IMPORT & EXPORT CO LTD's reputation within the respective industry failed to reveal any adverse information.

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

DEBT

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

CIVIL LITIGATION

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

PERFORMANCE DEFAULTS

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

 

CAPITAL (Currency: KHR - Cambodia Riel)

 

Authorized Capital

:

20,000,000

 

SHAREHOLDERS

 

Total number of shareholders

:

2

Total number of shares

:

1,000

 

Currency

:

KHR - Cambodia Riel

 

No.

Shareholders

Country

Shares

Number

Amount (KHR)

%

1

Mr. Te-Chi Heang

Cambodia

500

n/a

50.00

2

Mrs. Te-Sou Heang

Cambodia

500

n/a

50.00

Total

1,000

n/a

100.00

 

 

 

 

PAYMENT INFORMATION

 

 

DOMESTIC SALES & PURCHASES

 

Annual Sales Analysis

Percentage

Domestic Sales

80%

International Sales (Export)

20%

 

Annual Purchases Analysis

Percentage

Local Purchases

70%

Imports

30%

 

 

PAYMENT TERMS

 

Selling

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

Export

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Received at time of transaction

 

Purchasing

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Na

 

 

FINANCIAL INFORMATION

 

 

FINANCIAL STATEMENT - DETAILED

 

Based on the corporate laws of Cambodia, legal entities which are a Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 KHR
Cambodia Riel

=

0.000250 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Primary Products

Products / Materials / Services Description

Activity

Floor mats

Trading

Textile products

Trading

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Fabricated textile products, nspf

2399

Trading

Textile goods, nspf

2299

Trading

 

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Carpets & other textile floor coverings, knotted

5701

Trading

Textile products etc. for specific tech uses

5911

Trading

 

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of CITI-TEX TRADING IMPORT & EXPORT CO LTD is Trading - Finished products.

Key products include :

Floor mats

Textile products

 

 

 

Supplementary Business

 

In addition to the core business, CITI-TEX TRADING IMPORT & EXPORT CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

 

 

 

 

OFFICE & FACILITIES

 

The following information relates to the Business Entity's office as listed above:

 

Name

:

CITI-TEX TRADING IMPORT & EXPORT CO LTD - KHAN CHAMKARMORN, PHNOM PENH

Primary Use

:

Office & Administration facilities

Type of Location

:

Commercial

Address

:

55 St 286 Olympic, Khan Chamkarmorn, Phnom Penh

Country

:

Cambodia

Ownership of Property

:

Rented / Leased

Status

:

Operational

 

 

 

 

 

NOTES & COMMENTS

 

Na

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.11

UK Pound

1

Rs.100.32

Euro

1

Rs.72.17

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ASH

 

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.