MIRA
INFORM REPORT
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Report Date : |
05.09.2007 |
IDENTIFICATION DETAILS
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Name : |
MGB METRO GROUP BUYING HK LTD |
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Registered Office : |
9FL |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
May 14, 2003 |
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Com. Reg. No.: |
847259 |
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Legal Form : |
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Line of Business : |
Importer and exporter of general merchandise. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Up To US$ 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
MGB METRO GROUP BUYING HK LTD
9FL
TEL : 852 27381388
FAX : 852 27352455
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY 14, 2003
REGISTRATION NO. :
847259
CHIEF EXECUTIVE :
MR. BERND RALF HANEMANN (CHAIRMAN)
STAFF STRENGTH :
50
CAPITAL :
US$ 6,393,862
BUSINESS LINE :
TRADER
TURNOVER :
EUR 59,882,000,000
(GROUP) (AS OF DEC. 31, 2006)
EQUITIES :
EUR 6,047,000,000
(GROUP) (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.79385 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M – million
HKD –
*Company Registration*
===================
License number : 847259
Date issued : 14 May,
2003
Issuing authority : Companies Registry
Legal form : Limited
Liability Company
Type of license : Corporate
License number : 33696531-001
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Registrar*
========
ASIA INFORMATION ASSOCIATES LTD (formerly known as BAKER & MCKENZIE
CONSULTANTS LTD)
*Capital Details*
=============
Authorized capital : HKD 50,000,000.00 divided into 500,000 shares of
HKD 100.00/-each, fully paid
*Office & Facilities*
===============
Other Contact Details
-----------------------------
Tel nos. : 27381304/27384145 or
4146
Fax no. : 29575305
Email :
supplychain@metro-mgb.com.nk
Website :
www.metro-link.com
*Corporate & Organization Structure*
============================
Medium sized company
Operated and managed by an experienced team of professionals.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
===================
Any of the following directors can sign on behalf of the company with
seal affixed:
- Mr. Bernd Ralf Hanemann
- Mr. Thomas Burkhalter
Website : www.metro-mgb.com The design is
professional and the content is well organized. At present it is in both
Deutsch and English versions.
E-mail : hongkong@metro-mgb.com
For the past two years there is no record of litigation.
*Major Shareholders*
===================
Total number of shareholders
: 2
Total number of ordinary shares :
500,000
Shareholders' Name No. of
Ordinary Shares Amount of Shares
(HKD) % of Shares
-------------------------- ------------------------------- ---------------------------------- ----------------
MGB METRO GROUP BUYING GMBH
499,996
49,999,600.00
100.00
MGE WARENHANDELSGESELLSCHAFT
VERWALTUNGS MBH & CO KG 4
400.00 0.00
*Director's Details*
===============
Jurgen Pahl
Passport no. :
5042152669
Address : Kollenkamp 21
Bernhard Otto Schmidt
Passport no. :
1333042204
Address :
Gnadenbergweg 3
Manfred Leufgen
Passport no. :
5041991788
Address : Ruestermark 5,
*Corporate Secretary*
=================
B & MCK NOMINEES LTD
Address : 1401 Hutchison House
*COMPANY MANAGEMENT*
==========================
Name Nationality
Job Description Dept. / Division
Mr. Thomas Burkhalter
Mr. Bernd Ralf Hanemann
*Key Personnel*
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Bernd Ralf Hanemann
HK ID :
K315735(0)
Founder : Co- founder
Address : House A2
Burnside Villa
Previous address : Flat B, 1Fl Regent Palisades Block 3,
(changed on 24 June, 2007)
Work experience : More than 5 years
Responsibilities : Handles daily
operation of the firm includes all financials and legal matters.
Thomas Burkhalter
HK ID :
P816637(8)
Addresses : Rm
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Importer and exporter of general merchandise.
2. Act as procurement agent for merchandise of the Metro Group.
Products : Buying trip services
Clocks
Clothing accessories
Durable goods
Electrical appliance
*Payment Terms*
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Sales
--------
Local : Cash or Credit
Export : Letter of Credit (L/C)
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
*Quality Certification*
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Type of certification : EC type-examination certificate
Issuing authority : TUV Rheinland
Date of certification : 9
December, 2005
Approved number : BG60013351
Other details :
Certified product : Tabletop Patioheater
(Liquid Gas Equipment)
Fulfilled standard : Richtlinic 90/396/EWC
EN 419-1:1999
EN 461/A1:2004
Note : This is to certify that
the product that complies with the requirements of the Gas Appliances
Directive. This certificate does not imply assessment of the production of the
product and does not permit the used of a TUV Rheinland mark of
conformity.
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
*(Subsidiaries , Joint-ventures & Affiliates)
=================================
Company Name : METRO CASH & CARRY
Address : Metro-Strasse 1
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
*Subsidiaries, Joint-ventures & Affiliates*
=================================
Maintains offices in the following locations :
1.
Telephone no : 21-2207 6016 or
6096
E-mail address:
eva.liu@metro-mgb.com.cn/angela.wu@metro-mgb.com.cn
2.
Telephone no : 91 11
26840740
E-mail address:
lokesh.kumar@metro-mgb.co.in/neeraj.mittal@metro-mgb.co.in
3.
Telephone no : 886 2 27252187
E-mail address:
abel.tseng@metro-mgb.com.tw/queenie.kao@metro-mgb.com.tw
4.
Telephone no : 90 212 410 55
11
E-mail address:
supplychain@metro-mgb.com.tr
PAYMENT RATING : 3 OBTAINED SCORES : 60
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for
MODERATE amounts depending on individual judgement experience.
*Bank Details*
=============
Bank Name : DEUTSCHE BANK AG
Branch : Central,
Branch Address : 45Fl
SWIFT Code : This bank does not have a SWIFT Code
Bank Name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch : Central,
Branch Address : Basement Level HSBC Main Bldg 1 Queen's Rd
SWIFT Code : HSBCHKHH
Consolidated Balance Sheet of METRO AG
Currency : EUR
Denomination : In millions
31 December, 2006 31
December, 2005
------------------------ -------------------------
Assets
Non-current assets
18,978
17,580
Goodwill 4,379 4,154
Other intangible assets
478
433
Tangible assets 12,087 11,037
Investment properties
136
228
Financial assets 139 136
Other receivables and assets
535
482
Deferred tax assets 1,224 1,110
Current assets
13,170
11,187
Inventories 6,640 6,246
Trade receivables
481
367
Financial assets 21 13
Other receivables and assets
2,852
2,200
Entitlements to income tax refunds
279
253
Cash and cash equivalents
2,732
1,767
Non-current assets held for sale 165 341
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32,148 28,767
Equity and Liabilities
Equity
6,047
5,313
Capital stock
835
835
Additional paid-in capital
2,544
2,551
Reserves retained from earnings
2,451
1,721
Minority interests
217
206
Non-current liabilities
8,869
8,408
Provisions for pensions and similar commitments 1,023 995
Other provisions 506 447
Financial liabilities
6,279
6,046
Other liabilities 599 433
Deferred tax liabilities
462
487
Current liabilities
17,232
15,046
Trade payables
12,416
10,952
Provisions 719 288
Financial liabilities
1,740
1,590
Other liabilities
2,029
1,967
Income tax liabilities
304 249
Liabilities related to non-current assets held for sale 24 -
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32,148
28,767
Consolidated Income Statement of METRO AG
Currency : EUR
Denomination : In millions
31
December, 2006 31 December, 2005
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Net sales 59,882 55,722
Cost of sales
(47,390)
(44,086)
Gross profit on sales 12,492 11,636
Other operating income
1,895
1,149
Selling expenses (11,098) (9,885)
General administrative expenses
(1,252)
(1,094)
Other operating expenses
(54)
(68)
Earnings before interest and taxes (EBIT) 1,983 1,738
Result from associated companies
0
58
Other investment result
14
16
Interest income
158
143
Interest expenses
(624)
(614)
Other financial result
3
17
Net financial income (449) (380)
Earnings before taxes (EBT)
1,534
1,358
Income taxes (484) (740)
Income from continuing operations 1,050 618
Income from discontinued operations after taxes 143 31
Net profit for the period
1,193
649
Allocable to minorities
137 118
From continuing operations
(137)
(117)
From discontinued operations
(-)
(1)
Allocable to stockholders of METRO AG 1,056 531
From continuing operations
(913)
(501)
From discontinued operations (143) (30)
Earnings per share in
3.23
1.63
From continuing operations
(2.79)
(1.54)
From discontinued operations
(0.44)
(0.09)
*Financial Ratio*
==============
Consolidated Financial Ratios of METRO AG
31
December, 2006 31 December, 2005
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Growth %
Year-on-Year Growth
N/A
7.47
Profitability
Profit Margin(%)
12.22
19.73
Return on Assets(%)
2.26
3.71
Leverage
Total Debt Equity (Times)
5.41
5.32
Current Debt Equity (Times)
2.83
2.85
Long Term Debt to Equity
1.58
1.47
Total Asset To Total Equity 5.41 5.32
Asset Management
Total Assets Turnover(Times)
1.94
1.86
Fixed Assets Turnover(Times) 3.17 3.16
Liquidity
Current Ratio
0.74
0.76
SC is considered medium-sized in its line with fairly good background. A
credit line up to USD 600,000 would appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Service 4783 Packing
& Crating
Service 8741 Management
Services
Service 9300 Finance,
Taxation, & Monetary
Trading 2300 Apparel/Other
Textile Products
Trading 2389 Apparel
and accessories
Trading 2519 Household
furniture, NEC
Trading 2678 Stationery
products
Trading 3100 Leather
and Leather Products
Trading 3171 Women's
handbags and purses
Trading 3172 Personal
goods, of leather, except handbags and purses
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Service 9854 Packing
& crating
Service 9874 Management
services
Service 9878 Business
development/consulting
Trading 4200 Articles
of leather, saddlery & harness, travel goods, handbags, articles of gut
Trading 4202 Travel
goods, handbags, wallets, jewelry cases etc
Trading 4205 Articles
of leather
Trading 4817 Envelopes,
postcards etc & boxes etc of stationery
Trading 6100 Articles
of apparel & clothing accessories-knitted or crocheted
Trading 6114 Garments
knitted or crocheted
Trading 6117 Made-up
clothing access parts etc. knit etc
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Service Offer
management
Service Infrastructure
Service Quality
assurance
Service Pack and label
services
Service Purchasing
agents
Trader Garments
Trader Durable
goods
Trader Non-durable
goods
Trader Clothing
accessories
Trader Footwear
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)