MIRA INFORM REPORT
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Report No. : |
324591 |
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Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
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Name : |
TALENT TEXTILES COMPANY LIMITED |
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Registered Office : |
7/F. Wing Ming Industrial Centre, 15 Cheung Yue Street, Lai Chi Kok,
Kowloon |
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Country : |
Hong Kong |
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|
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Date of Incorporation : |
16.05.2014 |
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Com. Reg. No.: |
2097737 |
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Legal Form : |
Private Limited Liability Company |
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Line of business : |
Subject is engaged in trading of textiles |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
Contact Points
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Company Name (in
Chinese): |
|
|
Company Name (in
English): |
TALENT TEXTILES
COMPANY LIMITED |
|
Supplied Name: |
TALENT TEXTILES
COMPANY LIMITED |
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Trading Address: |
7/F., Wing Ming
Industrial Centre, 15 Cheung Yue Street, Lai Chi Kok, Kowloon, Hong Kong |
|
Supplied
Address: |
No,7/F, WING
MING INDUSTRIAL CENTRE , NO15 CHEUNG YUE STREET, LAI CHI KOK, KOWLOON, HONG
KONG.- |
Note: The exact name and address are as above.
Company Identification Details
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Registered Name: |
|
|
Registered Address: |
7/F. Wing Ming Industrial Centre, 15 Cheung Yue Street, Lai Chi Kok,
Kowloon, Hong Kong |
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Telephone Number: |
+852-2310-2238 |
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Fax Number: |
+852-3580-8268 |
|
2014-5-16 |
|
|
Registered Number: |
2097737 |
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Business Registration
No.: |
63352478 |
|
Registered Capital: |
HKD 3,000,000 (USD 387,000) (As of 2015.1, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 3,000,000 (USD 387,000) = 3,000,000 Shares @ HKD 1 |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
65134-cotton yarn (other than sewing thread), containing less than 85%
by weight of cotton, not for retail sale (kg) |
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Principal Activities: |
Trading of textiles. |
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Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
-- |
Note: Subject declined to
disclose its staff number, and from other source we can’t obtain the
information, either.
History
Subject was incorporated on 2014-5-16 with the registered number 2097737 as
Private Limited Liability Company in Hong Kong.
Corporate Structure
Related Company
|
Name: |
Talent Weaving Dyeing & Printing Limited |
|
Address: |
7/F. Wing Ming Industrial Centre, 15 Cheung Yue Street, Lai Chi Kok,
Kowloon, Hong Kong |
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Date of Registration: |
2005-3-23 |
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Registered Number: |
958171 |
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Telephone Number: |
+852-2310-2238 |
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Fax Number: |
+852-3580-8268 |
|
|
|
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Name: |
Ming Yuen Holdings Limited |
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Address: |
7/F. Wing Ming Industrial Centre, 15 Cheung Yue Street, Lai Chi Kok,
Kowloon, Hong Kong |
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Date of Registration: |
2001-12-17 |
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Registered Number: |
779694 |
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Telephone Number: |
+852-2310-2238 |
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Fax Number: |
+852-3580-8268 |
Shareholders
|
Subscription
Shares |
Proportion of
Investment (%) |
|
|
Yiu Fung Kuen |
2,250,000 |
75% |
|
Chau, Kwai Cheong |
750,000 |
25% |
|
Total |
3,000,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Yiu Fung Kuen |
|
|
Address: |
1/F., No. 24 Boundary
Street, Kowloon, Hong Kong |
|
2 |
|
|
Name: |
Chau, Kwai Cheong |
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Address: |
1/F., No. 24 Boundary Street, Kowloon, Hong Kong |
Management Information
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Yiu Fung Kuen |
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Address: |
1/F., No. 24 Boundary Street, Kowloon, Hong Kong |
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Position: |
Director & Secretary |
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ID Number: |
C482486(3) |
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2 |
|
|
Name: |
Chau, Kwai Cheong |
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Address: |
1/F., No. 24 Boundary Street, Kowloon, Hong Kong |
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Position: |
Director |
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ID Number: |
K084414(4) |
Operation Information
|
|
Office |
|
Address: |
7/F., Wing Ming Industrial Centre, 15 Cheung Yue Street, Lai Chi Kok,
Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
7th Floor, Wing Ming Industrial Centre, No.15 Cheung Yue Street
Kowloon |
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Owners: |
Super Kind Investment Limited |
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Memorial Number: |
UB4752570 |
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Date of Instrument: |
1991-3-2 |
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Date of Registration: |
1991-3-27 |
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Consideration Value: |
USD 23,782,360.00 (PT.) |
Note: P.T. means part
of.
History of Premises Owners’
|
1 |
|
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Memorial No.: |
08042501380025 |
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Date of Instrument: |
2008-3-27 |
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Date of Registration: |
2008-4-25 |
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Nature: |
Rent Assignment |
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In Favor of: |
Industrial And Commercial Bank Of China (Asia) Limited |
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Consideration: |
-- |
|
2 |
|
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Memorial No.: |
08042501380010 |
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Date of Instrument: |
2008-3-27 |
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Date of Registration: |
2008-4-25 |
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Nature: |
Mortgage |
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In Favor of: |
Industrial And Commercial Bank Of China (Asia) Limited |
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Consideration: |
All Moneys (PT.) |
|
3 |
|
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Memorial No.: |
UB6250139 |
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Date of Instrument: |
1995-3-21 |
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Date of Registration: |
1995-3-29 |
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Nature: |
Tenancy agreement for 1 year from 18.3.95 to 17.3.96 Remarks: with 1 year's option for rent and deposit see memorial |
|
In Favor of: |
Boutique Cosmos (H.K.) Limited |
|
Consideration: |
- (PT.) |
Note: P.T. means part
of.
Production Information
Subject is a trader of textiles, etc without any production capacity.
It is introduced that subject has a related factory in Zhang Jia Gang
City, Jiangsu Province, the mainland of China.
Purchase Information
Subject’s products are mainly purchased from domestic market.
It is introduced that subject purchases some products from its related
factory in Zhang Jia Gang City, Jiangsu Province, the mainland of China.
Sales Information
Subject is engaged in sale of textiles, etc.
Subject‘s main products are textiles for clothing, such as yarn-dyed
cotton and linen dyed and so on.
It is introduced that subject’s main customers are garment
manufacturers, etc.
Subject’s main sale regions are domestic market, Southeast Asia,
Singapore and North America, etc.
Settlements
Purchase
Domestic Purchase
|
Products |
Textiles |
|
Payment Terms |
Cash, T/T |
Import
Subject has little import.
Domestic Markets
|
Product |
Textiles |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Textiles |
|
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
Mortgage Record
No mortgage record of subject was found.
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 |
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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
|
Department: |
Sales Department |
Industry Information
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
The Mainland of
China |
3,633,723 |
189,964 |
16,483,634 |
808,595 |
|
India |
23 280 |
707 |
82,732 |
2,762 |
|
Korea |
36,858 |
1,108 |
687,887 |
22,132 |
|
Taiwan |
293,320 |
7,651 |
4,415,713 |
101,385 |
|
Exports |
||||
|
The Mainland of
China |
4,422,781 |
231,556 |
23,891,823 |
1,049,462 |
|
Cambodia |
33,208 |
1,489 |
68,990 |
2,816 |
|
Romania |
6,668 |
296 |
13,980 |
596 |
|
Taiwan |
6,221 |
235 |
56,274 |
1,349 |
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
Wing Ming Industrial Centre, 15 Cheung Yue Street, Lai Chi Kok, Kowloon,
Hong Kong
1/F., Wing Ming Industrial Centre, 15 Cheung Yue Street, Lai Chi Kok,
Kowloon, Hong Kong
7/F. Wing Ming Industrial Centre , 15 Cheung
Yue Street, Lai Chi Kok, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.99.67 |
|
Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.