MIRA INFORM REPORT

 

 

Report Date :

29.08.2011

 

IDENTIFICATION DETAILS

 

Name :

ILLIES  EAST  ASIA  LTD.

 

 

Formerly Known As :

Illies Engineering (H.K.) Ltd.,

 

 

Registered Office :

Unit 1602-1603, 16/F., Stelux House, 698 Prince Edward Road East, San Po Kong, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

03.02.1970

 

 

Com. Reg. No.:

04063513

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Machine tools, plastic and rubber, textiles, etc

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

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:  Dr. Frank Oberndorff

 

 

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:                   14.

 

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:-

C. Illies & Co. Handelsgesellschaft mbH, Germany.

 

Ultimate Holding Company:-

C. Illies & Co., Germany.

 

Associated/Affiliated Companies:-

Illies Group of Companies

C. Illies & Co. Ltd., Japan.  [Also known as K.K. Irisu]

C. Illies & Co., Kazakhstan.

C. Illies & Co., Russia.

C. Illies & Co., UAE.

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

 

04063513

 

 

COMPANY FILE NUMBER

 

0019473

 

 

MANAGEMENT

 

Managing Director:  Dr. Frank Oberndorff

 

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 03-02-2011)

 

Name

 

No. of shares

C. Illies & Co. Handelsgesellschaft mbH

Valentinskamp 18, 20354 Hamburg, Germany.

 

29

Pacific Engineering GmbH

Valentinskamp 18, 2000 Hamburg 36, Germany.

 

1

 

 

––

 

Total:

30

==

 

 

DIRECTORS  

(As per registry dated 03-02-2011)

 

Name

(Nationality)

 

Address

Carl Michael ILLIES

Eichenallee 14, 21521 Wohltorf, Germany.

 

Frank OBERNDORFF

Tornquiststr. 31, 20259 Hamburg, Germany.

 

Niels PLATE

CL57, 1 Castle Hill Broadway, Jiahe, Baiyun District, Guangzhou 510440, Guangdong Province, China.

 

Michael Harry Emil SPATZ

Ochiai House 8B, 5-18-6 Denenchofu, Tokyo 145-0071, Japan.

 

Septimus Ltd.

4/F. & 5/F., Central Tower, 28 Queen’s Road Central, Hong Kong.

 

Tertius Ltd.

4/F. & 5/F., Central Tower, 28 Queen’s Road Central, Hong Kong.

 

 

SECRETARY 

(As per registry dated 03-02-2011)

 

Name

Address

Co. No.

Stevensec Ltd.

4/F. & 5/F., Central Tower, 28 Queen’s Road Central, Hong Kong.

0879348

 

 

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:                   14.

 

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:                      Met on time.

 

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 C. Illies & Co. Handelsgesellschaft mbH, a Germany-based firm.  The ultimate holding company C. Illies & Co. [Illies] is also a Germany-based firm.

 

The head office of Illies is in Hamburg, Germany.  However, in April 2005, Mr. Andre Roland Louis Piedavent, the old managing director of the subject, moved to Hong Kong and has been stationing in this region since then. 

 

Mr. Piedavent was one of the Chief Executive Officers of the Illies Group.  Now, he has retired.

 

The subject has had an affiliated company CICO Engineering Co. Ltd. [CICO], a Hong Kong-registered firm, located at its operating address.  CICO is also a subsidiary of the Illies Group.

 

Illies 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.

 

Illies is a reliable partner to a wide range of innovative industries by offering technology, engineering and service solutions.  The followings are the expertise of the Group:-

 

  • Establishing long-term presence and sophisticated infrastructure in dynamic economies
  • Comprehensive and qualified marketing of technical investment goods and maintaining related after sales capabilities
  • Sourcing and procurement of machinery components, modules and semi-finished products from China
  • Being an intercultural mediator for its business partners
  • Minimising risks of international trade in complex industrial projects
  • Consulting regarding market building and international marketing

 

Currently, Illies is trading in the following commodities and offering clients with the following products or technologies:-

 

  • Textile Products
  • Paper and Graphics
  • Machine Tools
  • Vacuum Technologies
  • Plastic and Rubber
  • Engineering Projects

 

Illies has set up an affiliated company in Shanghai known as C. Illies Trading (Shanghai) Co. Ltd. [Illies Shanghai], China.  Now, Illies Shanghai has set up branch offices in Guangzhou, Beijing, Chengdu, Qingdao, Harbin, Xiamen.  Illies Shanghai Guangzhou office is administered by one of the directors of the subject Niels Plate who is a Germany-passport holder.  Most of the time, he is stationing in Guangzhou.

 

Besides the Shanghai firm, Illies has set up offices in Germany, Uzbekistan, Russia, Kazakhstan, Indonesia, India, Taiwan, the UAE, Vietnam, South Korea, Japan, Italy, etc.

 

The Group’s associated company in India is known as Illies Engineering India Pvt. Ltd.  This firm is in Mumbai, India.

 

The Illies Group has got a main associated company Illies Graphik GmbH [Illies Graphik] in Hamburg, Germany.  For more than 25 years, Illies Graphik is the exclusive importer for RYOBI offset printing machines.  For sales partners and customers Illies Graphik serves as the manufacturer in Germany.  The European Technik-Center of Ryobi is also located in Hamburg at Illies Graphik.

 

The subject’s history in Hong Kong is over forty-one years and six months.  It is fully supported by the Illies Group.  The annual sales turnover of the Group is very significant.

 

On the whole, consider the subject good for normal business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.19

Euro

1

Rs.66.47

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.