MIRA INFORM
REPORT
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Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
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Name : |
VEIT
HONG KONG LTD. |
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Registered Office : |
Unit 1115, 11/F., Grandtech Centre, 8 On |
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Country : |
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Date of Incorporation : |
14.07.1994 |
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Com. Reg. No.: |
18356833 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of ironing equipment, 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 : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
VEIT HONG KONG
LTD.
Company ADDRESS
Unit 1115, 11/F.,
Grandtech Centre, 8 On Ping Street, Shatin, New Territories,
PHONE: 2834 9986
FAX: 2836 0005
E-MAIL: info@veit.com.hk
MANAGEMENT
Managing Director: Ms. Yap Choon Lan
SUMMARY
Incorporated on: 14th July, 1994.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$2.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 8.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Unit 1115, 11/F., Grandtech Centre, 8 On Ping Street,
Shatin, New Territories,
Ultimate Holding
Company:-
VEIT
Holding Company:-
VEIT
Affiliated Companies:-
·
Brisay Maschinen
·
Nihon-VEIT Co., Ltd.,
·
PT VEIT
·
Ramsons VEIT (P) Ltd.,
·
VEIT (
·
VEIT Bangladesh Ltd.,
·
VEIT Brisay Pressing Equipment (
·
VEIT GmbH & Co.,
·
VEIT GmbH Betriebsstatte GTT,
·
VEIT
·
VEIT-Brisay
etc.
BUSINESS REGISTRATION NUMBER
18356833
COMPANY FILE NUMBER
0485210
MANAGEMENT
Managing Director: Ms. Yap Choon Lan
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$2.00
SHAREHOLDERS
(As
per registry dated 14-07-2010)
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Name |
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No. of shares |
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VEIT Asia Pte Ltd. 15 Beach Road, #03-07 Beach |
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1 |
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YAP Choon Lan |
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1 |
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–– |
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Total: |
2 = |
DIRECTORS
(As per registry dated 14-07-2010)
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Name (Nationality) |
Address |
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YAP Choon Lan |
Room B, 15/F., Block 1, Royal
Ascot, |
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VEIT Asia Pte Ltd. |
15 Beach Road, #03-07 Beach |
SECRETARY
(As per registry dated 14-07-2010)
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Name |
Address |
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Cyberwise Corporate Services Ltd. |
Room 1410, 14/F., Harbour Centre, |
782735 |
HISTORY
The subject was incorporated on 14th July, 1994 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: All kinds of ironing equipment, etc.
Employees: 8.
Commodities Imported:
Markets:
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$2.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd.,
Standing:
GENERAL
VEIT
Hong Kong Ltd. is equally owned by VEIT Asia Pte. Ltd., a Singapore-based firm,
and Ms.
The
subject and VEIT Asia Pte. Ltd. belong to the VEIT Group.
The VEIT Group is a worldwide leading manufacturer of ironing equipment, fusing machines, underpressing and final pressing machines as well as refinishing equipment for garments.
The
subject has set up a liaison office in
The subject is trading in the VEIT Group’s products.
The Group’s products include from ironing tables and steam generators to high-pressure steam irons; from fusing machines to hot and cold 3-dimensional form finishers; from tunnel systems to computer controlled robotic pressing machines. All of the Group’s products are designed to achieve the highest fusing and finishing quality with minimal processing times, and they’re known to be ‘top-quality, long-lasting and trouble-free products’.
The VEIT Group’s customers include well-known clothing
manufacturers, textile refinishers, textile care and dry-cleaning companies,
laundries and automotive interior suppliers.
The VEIT Group is specialized in fabric finishing (the ironing and pressing of fabrics), bonding of fabrics and other materials as well as electric steam generators and attachments. Furthermore, the Group offers a wide variety of services including informative seminars, hands on training and the planning and construction of steam, vacuum and compressed air facilities for all types of industries (garment manufacturing and refinishing, automotive, food services, etc.).
· The followings are some of the products of the VEIT Group:
· Trouser Top Press Timer Control
· Single Leg Press Timer Control
· Semi-Automatic Shirt Folding Station
· Pants Finisher
· Steam Generators
· Uniset Seam Opening Table
· Flat Top Suction
· Dress Board Suction
· Coolset Ironing Table
· Steam Iron, etc.
The Group is trading in the following three significant brand names: VEIT, BRISAY and Kannegiesser.
The VEIT Group has set up a wholly-owned
subsidiary in
The VEIT Group’s products are marketed in
more than 100 countries of the world.
The subject is fully supported by the VEIT Group.
As
the history of the subject is over sixteen years and eight months in
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.45.20 |
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1 |
Rs.73.17 |
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Euro |
1 |
Rs.61.88 |
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 |
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 |
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.