MIRA INFORM REPORT
|
Report No. : |
319845 |
|
Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
KEYWIN TRADING LIMITED |
|
|
|
|
Registered Office : |
Unit No. 3-5, 25/F., Arion Commercial Centre, No. 2-12 Queen's Road West |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
02.11.1979 |
|
|
|
|
Com. Reg. No.: |
74808 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of Apparel Fabric. |
|
|
|
|
No. of Employees : |
About 6 |
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 – 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 (in Chinese): |
|
|
Company Name (in English): |
KEYWIN TRADING LIMITED |
|
Supplied Name: |
KEYWIN TRADING LIMITED |
|
Trading Address: |
Unit 3-5, 25/F Arion Commercial Centre 2-12 Queen's Road West, Hong
Kong |
|
Supplied Address: |
Unit 3-5, 25/F, Arion Commercial Centre No 2-12 Queens Road West
Central H K |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit No. 3-5, 25/F., Arion Commercial
Centre, No. 2-12 Queen's Road West, Hong Kong |
|
Telephone Number: |
+852-2541-4366 /2541-4368 |
|
Fax Number: |
+852-2854-0484 |
|
Date of Registration: |
1979-11-2 |
|
Registered Number: |
74808 |
|
Business Registration No.: |
06319211 |
|
Paid-up Capital: |
HKD 950,000 (USD 122,550) = 9,500 Shares @
HKD 100 (As of 2015.5, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
65133--Cotton yarn (other than sewing
thread), containing 85% or more by weight of cotton, not for retail sale (kg) |
|
Principal Activities: |
Trading of apparel fabric, etc. |
|
Staff: |
About 6 peoples |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-11-2 |
Note: Subject declined
to disclose its staff number; we obtained the relevant information from public
files.
History
Subject was incorporated on 1979-11-2 with the
registered number 74808 as Private Limited Liability Company in Hong Kong.
Corporate Structure
It is introduced that
subject has offices in India and Pakistan, but the
relevant staff declined to disclose its detail information, and from other source we
can’t obtain the information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Nizami Khadija Dilara |
9 |
0.09% |
|
Farooq Saeed |
3,421 |
36.01% |
|
Saeed M. Aslam |
1,500 |
15.79% |
|
M. Tariq Saeed |
2,500 |
26.32% |
|
Mohammad Jawed Saeed |
2,070 |
21.79% |
|
Total |
9,500 |
100% |
Major Shareholder Information:
|
1 |
|
|
Name: |
Nizami Khadija Dilara |
|
Address: |
134B, Block 18, Gulshan-E-lqbal Karachi,
Pakistan |
|
2 |
|
|
Name: |
Farooq Saeed |
|
Address: |
4/F., Block 38, Baguio Villa, 550 Victoria
Road, Pokfulam, Hong Kong |
|
Name: |
Saeed M. Aslam |
|
Address: |
8/F., Block 35, Baguio Villa, 550 Victoria
Road, Pokfulam, Hong Kong |
|
4 |
|
|
Name: |
M. Tariq Saeed |
|
Address: |
Flat A, 4/F., Block 21, Upper Baguio Villa,
Pokfulam Hong Kong |
|
5 |
|
|
Name: |
Mohammad Jawed Saeed |
|
Address: |
8/F., Block 35, Baguio Villa, 550 Victoria
Road, Pokfulam, Hong Kong |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Mohammad Jawed Saeed |
|
Address: |
8/F., Block 35, Baguio Villa, 550 Victoria
Road, Pokfulam, Hong Kong |
|
Position: |
Director |
|
ID Number: |
XD522179(5) |
|
2 |
|
|
Name: |
Farooq Saeed |
|
Address: |
4/F., Block 38, Baguio Villa, 550 Victoria
Road, Pokfulam, Hong Kong |
|
Position: |
Director |
|
ID Number: |
XD695889(9) |
|
3 |
|
|
Name: |
M. Tariq Saeed |
|
Address: |
Flat A, 4/F., Block 21, Upper Baguio Villa,
Pokfulam Hong Kong |
|
Position: |
Director & Secretary |
|
ID Number: |
K241447(3) |
|
4 |
|
|
Name: |
Saeed M. Aslam |
|
Address: |
8/F., Block 35, Baguio Villa, 550 Victoria
Road, Pokfulam, Hong Kong |
|
Position: |
Director |
|
ID Number: |
XD646671(6) |
Personnel Structure
|
Total Employees |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Unit 3-5, 25/F Arion Commercial Centre 2-12 Queen's Road West, Hong
Kong |
Premises Information
Office address:
|
Address: |
Office Unit No.3 On 25/F Arion Commercial
Centre Nos.2-12 Queen's Road West Hong Kong |
|
Owners: |
CML Far East Limited |
|
Memorial Number: |
06080800550045 Assignment |
|
Date of Instrument: |
2006-7-14 |
|
Date of Registration: |
2006-8-8 |
|
Consideration Value: |
HKD 8,600,000.00 (PT.) |
History of Premises Owners’
|
1 |
|
|
Memorial No.: |
13082201670124 |
|
Date of Instrument: |
2013-8-16 |
|
Date of Registration: |
2013-8-22 |
|
Nature: |
Mortgage |
|
In Favor of: |
DBS Bank (Hong Kong) Limited |
|
Consideration: |
All Money (PT.) |
|
2 |
|
|
Memorial No.: |
06021500800036 |
|
Date of Instrument: |
2006-2-3 Remark: See assignment Mem. No.
06080800550045 |
|
Date of Registration: |
2006-2-15 |
|
Nature: |
Agreement for Sale and Purchase |
|
In Favor of: |
CML Far East Limited |
|
Consideration: |
HKD 8,600,000.00 (PT.) |
|
3 |
|
|
Memorial No.: |
UB8912124 |
|
Date of Instrument: |
2002-11-29 |
|
Date of Registration: |
2003-4-15 |
|
Nature: |
Agreement for sale and purchase (previously
regd. by M/N 8826913) Remarks:(Sale Completed) |
|
In Favor of: |
Wu Poon Tak Hubert 1/2 Ng Poon On 1/2 (Tenants in Common) |
|
Consideration: |
HKD 3,600,000.00 (PT.) |
Note: (PT.) means part of.
Production Information
Subject is a trader of apparel fabric, etc. without
any production activities.
Purchase Information
Subject’s products are purchased from both
home and abroad, such as Pakistan and India, Indonesia
and Far East etc.
It is introduced that
subject has offices in India and Pakistan, but the
relevant staff declined to disclose its detail information, and from other source
we can’t obtain the information, either.
Sales Information
Subject is engaged in sale of apparel fabric.
The major products sold by the subject are cotton
yarn, raw cotton, fabric, cow leather, sheepskin and finished leather.
Subject’s major sales regions include Mainland
China, Eastern Europe, Japan, Korea, Middle East, North America, Taiwan.
Subject’s major types of customers are manufacturers of garments, retailers of textile and so on.
Settlements
Purchase
Domestic Purchase
|
Products |
Cotton yarn |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Cotton yarn |
|
Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Cotton yarn |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Cotton yarn |
|
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
|
1 |
|
|
Name: |
Citibank, N.A. |
|
2 |
|
|
Name: |
HBZ Finance Limited |
|
Name: |
Habib Finance International Limited |
Public
Mortgage Record
|
1 |
|
|
Company Name: |
Keywin Trading Limited (the “Company”) |
|
Instrument of Creating Mortgage: |
Deposit Deed |
|
Date of Creating Mortgage: |
2010-5-10 |
|
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, N.A. or any Affiliate) under any banking, derivative,
foreign exchange, trade, margin, guarantee or other facility or facilities or
any account and ail other liabilities (whether actual or contingent, present
or future, as principal or surety or in some other capacity) (collectively,
the "Facilities"), including, any and all the obligations of the
Company and the Principal(s) under any Facilities pre-existing prior to the
date of execution of this Deed (the “Obligations”) “Affiliate” any affiliate(s) which Citibank,
N.A. and the Company agree from time to time to treat as an "Affiliate”
under the Deposit 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., Hong Kong Branch and/or Citibank (Hong Kong) Limited. |
|
2 |
|
|
Company Name: |
Keywin Trading LTD |
|
Instrument of Creating Mortgage: |
2009-1-5 |
|
Date of Creating Mortgage: |
Lien & Set-off Agreement |
|
Amount Secured: |
Loans, credit financial accommodation and
facilities granted to Keywin Trading LTD. From time to time by HBZ Finance
Limited |
|
Name of Mortgagee: |
|
|
Address of Mortgagee: |
Room 1701-5, 17/R, Wing On House 71 Des
Voeux Road Central Hong Kong |
|
Description of Property Mortgaged: |
Fixed Deposits of the company set out below
and extensions or renewals thereof In whole or in part Fixed Deposit Receipt No.: DFN1010017 Value Date: 05.01.2009 Principal Amount: USD 22,594.35 Maturity Date: 06.04.2009 Fixed Deposit Receipt No.: DFN1010018 Value Date: 05.01.2009 Principal Amount: USD 220,271.54 Maturity Date: 06.04.2009 Fixed deposit(s) as per section 6B in the
name of Keywin Trading Ltd. Any extensions or renewal thereof in part by
new fixed deposit receipt(s) bearing different receipt(s) number |
|
3 |
|
|
Company Name: |
Keywin Trading Limited |
|
Instrument of Creating Mortgage: |
Letter
of Lien |
|
Date of Creating Mortgage: |
2008-10-4 |
|
Amount Secured: |
Credit facilities |
|
Name of Mortgagee: |
|
|
Address of Mortgagee: |
9/F V. Heun Building 138 Queen’s Road Central
Hong Kong |
|
Description of Property Mortgaged: |
Fixed Deposit Receipt No. FDR001174/3607
Dated 4.10.2008 for USD 22,237,35 with Habib Finance International Limited |
|
4 |
|
|
Company Name: |
|
|
Instrument of Creating Mortgage: |
Letter of Lien |
|
Date of Creating Mortgage: |
2008-11-4 |
|
Amount Secured: |
Credit facilities |
|
Name of Mortgagee: |
Habib Finance International Limited |
|
Address of Mortgagee: |
9/F V. Heun Building 138 Queen’s Road Central
Hong Kong |
|
Description of Property Mortgaged: |
Fixed Deposit Receipt No. FDR001175/3609
Dated 4.11.2008 for HKD 250,945.21 with Habib Finance International Limited |
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. Xu |
|
Department: |
Sales Department |
|
Email: |
Industry Information
65133--Cotton yarn (other than sewing thread),
containing 85% or more by weight of cotton, not for retail sale (kg)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
99 |
31 |
99 |
31 |
|
|
Germany |
394 |
90 |
854 |
200 |
|
Spain |
472 |
56 |
7,184 |
505 |
|
Indonesia |
504,432 |
16,744 |
1,957,582 |
62,518 |
|
India |
2,617,530 |
69,485 |
17,928,596 |
464,346 |
|
Korea |
775,627 |
22,647 |
3,652,941 |
106,090 |
|
Pakistan |
3,530,537 |
82,429 |
19,116,208 |
447,021 |
|
Taiwan |
205,292 |
4,746 |
1,418,901 |
30,963 |
|
The Mainland of China |
12,374,779 |
399,414 |
68,323,843 |
2,245,376 |
|
Exports |
||||
|
Bangladesh |
464,832 |
16,592 |
2,783,725 |
106,326 |
|
Indonesia |
166,738 |
6,333 |
833,125 |
34,165 |
|
India |
16 |
2 |
5,146 |
395 |
|
Japan |
544 |
65 |
1,009 |
92 |
|
Cambodia |
306,377 |
12,853 |
1,326,098 |
61,037 |
|
Korea |
64,441 |
2,773 |
240,739 |
9,682 |
|
The Mainland of China |
18,313,402 |
582,535 |
106,443,729 |
3,351,046 |
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.
Attachment
Arion Commercial Centre 2-12 Queen' Road West, Hong Kong
Arion Commercial Centre 2-12 Queen' Road West,
Hong Kong
Unit 3-5, 25/F Arion Commercial Centre 2-12
Queen' Road West, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.