MIRA
INFORM REPORT
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Report Date : |
12.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ILLIES EAST ASIA LTD. |
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Registered Office : |
Unit 1602-1603, 16/F., Stelux House, 698 Prince Edward
Road East, San Po Kong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.02.1970 |
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Com. Reg. No.: |
4063513 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Machine Tools, Plastic and Rubber, Textiles, etc |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
ILLIES EAST ASIA
LTD.
ADDRESS
Unit 1602-1603, 16/F., Stelux House, 698 Prince Edward Road East, San Po Kong, Kowloon, Hong Kong.
PHONE: 2721 3533
FAX: 2351 5301
E-MAIL: hongkong-iea@illies.de
MANAGEMENT
Managing Director: Mr. Andre Roland Louis Piedavent
SUMMARY
Incorporated on: 3rd February, 1970.
Organization: Private Limited Company.
Capital: Nominal: HK$300,000.00
Issued: HK$300,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 12.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Unit 1602-1603, 16/F., Stelux House, 698 Prince Edward Road East, San Po Kong, Kowloon, Hong Kong.
Holding Company:-
HIC Hanseatische Investitionsgesellschaft mbH, Germany.
Ultimate Holding
Company:-
C. Illies & Co., Germany. [CIC]
Affiliated Companies:-
CIC Group of Companies
C. Illies & Co. Ltd., Japan.
C. Illies Trading (Shanghai) Co. Ltd., China.
CICO Engineering Co. Ltd., Hong Kong. (Same address)
Illies Engineering (Taipei) Ltd., Taiwan.
Illies Engineering India Pvt. Ltd., India.
Illies Graphik GmbH, Germany.
Illies Italia S.r.l., Italy.
Illies Service Center Ltd., Taiwan.
Illies Training & Service Center Ltd., South Korea.
Korea Illies Engineering Co. Ltd., South Korea.
P.T. Illies Engineering Indonesia, Indonesia.
etc.
BUSINESS REGISTRATION NUMBER
4063513
COMPANY FILE NUMBER
19473
MANAGEMENT
Group Managing Director: Dr. Frank Oberndorff
Managing Director: Mr. Andre Roland Louis Piedavent
CAPITAL
Nominal Share Capital: HK$300,000.00 (Divided into 30 shares of HK$10,000.00 each)
Issued Share Capital: HK$300,000.00
SHAREHOLDERS
(As per registry
dated 03-02-2008)
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Name |
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No. of shares |
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HIC Hanseatische Investitionsgesellschaft mbH Valentinskamp 18, Hamburg, Germany. |
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29 |
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Pacific Engineering GmbH Valentinskamp 18, 2000 Hamburg 36, Germany. |
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1 |
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–– |
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Total: |
30 == |
DIRECTORS
(As per registry
dated 03-02-2008)
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Name (Nationality) |
Address |
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Andre Roland Louis PIEDAVENT |
Suite No. 1119, Tower 1 & 2, Hong Kong Parkview, 88 Tai Tam Reservoir Road, Hong Kong. |
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Carl Michael ILLIES |
Eichenallee 14, 21521 Wohltorf, Germany. |
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Frank OBERNDORFF |
Tornquiststr. 31, 20259 Hamburg, Germany. |
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Septimus Ltd. |
4/F. & 5/F., Central Tower, 28 Queen’s Road Central, Hong Kong. |
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Tertius Ltd. |
4/F. & 5/F., Central Tower, 28 Queen’s Road Central, Hong Kong. |
SECRETARY
(As per registry
dated 03-02-2008)
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Name |
Address |
Co. No. |
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Stevensec Ltd. |
4/F. & 5/F., Central Tower, 28 Queen’s Road Central, Hong Kong. |
879348 |
HISTORY
The subject was incorporated on 3rd February, 1970 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Illies Engineering (H.K.) Ltd., name changed to the present style on 17th January, 1995.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Machine tools, plastic and rubber, textiles, etc.
Employees: 12.
Commodities Imported: Germany and other European countries.
Markets: Hong Kong, China, other Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL INFORMATION
Nominal Share Capital: HK$300,000.00 (Divided into 30 shares of HK$10,000.00 each)
Issued Share Capital: HK$300,000.00
Profit & Loss: Making a small profit every year.
Condition: Keeping in an active manner.
Facilities: Making rather active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Good.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
GENERAL
Illies East Asia Ltd. is a wholly-owned subsidiary of HIC Hanseatische Investitionsgesellschaft mbH, a Germany-based firm. The ultimate holding company is C. Illies & Co. [CIC], also a Germany-based firm.
The head office of CIC is in Hamburg, Germany. However, in April 2005, Mr. Andre Roland Louis Piedavent moved to Hong Kong and has been stationing in this region since then. Mr. Piedavent is one of the Chief Executive Officers of the CIC Group.
The subject has had an affiliated company CICO Engineering Co. Ltd. [CICO], a Hong Kong-registered firm, located at its operatiang address. CICO is also a subsidiary of the CIC Group.
CIC is an international trading company, established by German merchants in Japan in 1859. It is a privately owned company with more than 400 dedicated employees in the world.
CIC is a reliable partner to a wide range of innovative industries by offering technology, engineering and service solutions. Currently, CIC is trading in the following commodities and offering clients with the following technologies:-
Textile Products
Paper and Graphics
Machine Tools
Vacuum Technologies
Plastic and Rubber
Engineering Projects
CIC has set up an affiliated company in Shanghai known as C. Illies Trading (Shanghai) Co. Ltd., China. Besides the Shanghai firm, CIC has set up offices in Uzbekistan, Russia, Kazakhstan, Indonesia, India, Taiwan, the UAE, Vietnam, Japan, Italy, etc.
The subject’s history in Hong Kong is over 38 years and fully supported by the CIC Group. The annual sales turnover of the Group is very significant.
On the whole, consider the subject good for normal business engagements.
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.48.71 |
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UK Pound |
1 |
Rs.72.85 |
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Euro |
1 |
Rs.64.70 |
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%)