MIRA
INFORM REPORT
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Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
OMNEON ASIA PACIFIC LTD. |
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Registered Office : |
Room 1801, 18/F., Aon Insurance Tower, 3 Lockhart Road,
Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.07.2004 |
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Com. Reg. No.: |
34772194 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Video and Computer Network Products, etc. |
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME OF THE COMPANY
OMNEON ASIA PACIFIC
LTD.
ADDRESS
Room 1801, 18/F., Aon Insurance Tower, 3 Lockhart Road, Wanchai, Hong Kong.
PHONE: 2866 6216
FAX: 2866 6201
E-MAIL: info@omneon.com
MANAGEMENT
Managing Director: Mr. Daniel John Marshall
SUMMARY
Incorporated on: 28th July, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Importer, Exporter and Wholesaler.
Group Revenue: US$81,859,000 (Year ended 31-12-2007)
Employees: 5.
Main Dealing Banker: Bank of America N.A., Hong Kong Branch.
Banking Relation: Satisfactory.
ADDRESS
Registered Office:-
Room 2804, 28/F., China Resources Building, 26 Harbour Road, Wanchai, Hong Kong.
Head Office:-
Room 1801, 18/F., Aon Insurance Tower, 3 Lockhart Road, Wanchai, Hong Kong.
Holding Company:-
Omneon Inc. [Formerly known as Omneon Video Networks Inc.]
1237 E. Arques Avenue, Sunnyvale, CA 94085-4701, United States.
[Tel: 408.585.5000; Fax: 408.585.5099]
Affiliated
Companies:-
Castify Holdings Ltd., UK.
Omneon Singapore Pte. Ltd., Singapore.
Omneon U.K. Ltd., UK.
Omneon Video Networks K.K., Japan.
BUSINESS REGISTRATION NUMBER
34772194
COMPANY FILE NUMBER
914309
MANAGEMENT
Managing Director: Mr. Daniel John Marshall
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
SHAREHOLDER
(As per registry
dated 28-07-2008)
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Name |
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No. of shares |
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Omneon Video Networks Inc. [Now known as Omneon Inc.] 1237 E. Arques Avenue, Sunnyvale, CA 94085-4701, United States. |
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100 === |
DIRECTOR
(As per registry
dated 05-08-2008)
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Name (Nationality) |
Address |
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Daniel John MARSHALL |
14270 Old Wood Road, Saratoga, CA 95070, USA. |
SECRETARY
(As per registry
dated 28-07-2008)
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Name |
Address |
Co. No. |
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KT First Secretary Ltd. |
Room 2804, 28/F., China
Resources Building, |
681483 |
HISTORY
The subject was incorporated on 28th July, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Video and computer network products, etc.
Employees: 5.
Commodities Imported: US, Europe, etc.
Markets: Hong Kong, China, other Asian countries, etc.
Group Revenue: US$12,216,000 (Year ended 31-12-2003)
US$30,528,000 (Year ended 31-12-2004)
US$51,358,000 (Year ended 31-12-2005)
US$78,688,000 (Year ended 31-12-2006)
US$81,859,000 (Year ended 31-12-2007)
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Group Net Income/(Loss): (US$7,021,000) (Year ended 31-12-2003)
US$ 27,000 (Year ended 31-12-2004)
US$4,141,000 (Year ended 31-12-2005)
US$5,542,000 (Year ended 31-12-2006)
(US$2,100,000) (Year ended 31-12-2007)
Profit & Loss: The Group suffered from losses in 2006 and 2007.
Condition: Business is normal.
Facilities: Making fairly active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Banker: Bank of America N.A., Hong Kong Branch.
Standing: Normal.
GENERAL
Omneon Asia Pacific Ltd. is a wholly owned subsidiary of Omneon Inc. [Omneon] (formerly known as Omneon Video Networks Inc.) which is a US‑based firm.
The subject is engaged in distributing Omneon’s products in Hong Kong, China and other Asian countries.
Established in 1998, Omneon is a company that draws upon a wealth of video and computer network experience for its core personnel — people with extensive knowledge in television broadcast design, engineering and production. Based on a clear understanding of how media, storage and facility operations interrelate, Omneon’s products are designed specifically as a video server infrastructure for companies that produce and distribute audio and video content for television and the Internet. Omneon’s Media Server System provides the most cost-effective and scalable video server infrastructure for the professional television industry, where customers are implementing new revenue streams and channels for digital applications.
Omneon’s server system supports an impressive array of third-party applications for control and transmission, media management, archiving, and collaborative production. This scalable and format independent system allows media to be shared among many users and applications. Users can easily ingest content, view content, move content between storage and the associated applications, and play-out content manually or under automation control. As a modular system designed with a scalable, distributed architecture, users have maximum flexibility in their ability to scale channels, bandwidth and storage capacity in small or large increments as desired. Users can simultaneously utilize both real-time (isochronous) and non-real-time processes (asynchronous) in one unified system. Omneon’s product development is driven by customer need. The system increases broadcasters’ operational efficiency by streamlining workflow. The Omneon Media Server System, based on the new MCP 2101 MediaDirector, allows entire facilities to operate from a common storage pool — at an unprecedented price-performance ratio.
Currently, Omneon has set up offices in the United States, the United Kingdom, Singapore, Japan, etc.
Omneon is preparing to be listed in the United States, however, the listing schedule is still pending. This may be due to the world financial crisis and the Group suffered from a loss in 2007.
On the whole, in view of the subject’s parentage and background, consider it good for normal business engagements.
REMARKS
Brief information of director:-
Mr. Daniel John MARSHALL, Senior Vice President of Worldwide Sales, is an entrepreneur in his own right and comes to Omneon from StorageWay, a recognized leader in the storage service provider market where he was the co-founder and vice president of sales.
Marshall now heads up Omneon’s worldwide sales operations. He brings extensive experience to the sales, service and distribution network for the entire line of integrated networking and storage products. He specializes in capitalizing on Omneon’s strength within the broadcast market, while helping the company emerge as a leader of storage products for applications extending into non-broadcast market segments such as media and entertainment and enterprise video.
With over 16 years of executive-level experience in the hardware and software storage markets, he has built aggressive and successful international sales organizations. His experience capitalizes on building and managing multi-million dollar sales teams with products and services offered to traditional open systems and client/server markets.
Marshall’s background includes executive-level positions where he established a worldwide base of OEMs, system integrators, distribution partners and a high-performance application engineering staff while increasing new accounts and consistently exceeding sales quotas. The companies included MTI Corporation, Network Power and Light (a division of Mylex Corporation), as well as Mylex Corporation, Kalok Corporation and Storage Dimensions. He has a BS in Business Administration and Economics from San Jose State University, San Jose, California.
Court Cases: None per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.22 |
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UK Pound |
1 |
Rs.75.03 |
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Euro |
1 |
Rs.63.14 |
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%)