MIRA INFORM REPORT

 

 

Report Date :           

13.07.2011

 

IDENTIFICATION DETAILS

 

Name :

DEDON  ASIA  PACIFIC  LTD.

 

 

Registered Office :

Room 3203-3207, 32/F., 248 Queen’s Road East, Wanchai

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

21.02.2007

 

 

Com. Reg. No.:

37653852

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Outdoor furniture, 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

 

DEDON  ASIA  PACIFIC  LTD.

 

 

Company ADDRESS    

 

Room 3203-3207, 32/F., 248 Queen’s Road East, Wanchai, Hong Kong.

PHONE:            2529 7233

FAX:                 2529 7933

E-MAIL:            office@dedon.hk

 

 

MANAGEMENT

 

Managing Director:  Mr. Yeung Hoi Fung, Stefan

 

 

SUMMARY

 

Incorporated on:             21st February, 2007.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$1.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   20.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office & Showroom:-

Room 3203-3207, 32/F., 248 Queen’s Road East, Wanchai, Hong Kong.

 

Holding Company:-

Team Dedon GmbH, Germany.

 

Associated Companies:-

Dedon Benelux N.V., Belgium.

Dedon GmbH, Germany.

Dedon Inc., USA.

Dedon Manufacturing Inc., Philippines.

Dedon Spain S.L.U., Spain.

 

 

BUSINESS REGISTRATION NUMBER

 

37653852

 

 

COMPANY FILE NUMBER

 

1111109

 

 

MANAGEMENT

 

Managing Director:  Mr. Yeung Hoi Fung, Stefan

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$1.00

 

 

SHAREHOLDER  

(As per registry dated 21-02-2011)

 

Name

 

No. of share

Team Dedon GmbH

Zeppelinstrasse 22, 21337 Lueneburg, Germany.

 

1

=

 

 

DIRECTORS  

(As per registry dated 21-02-2011)

 

Name

(Nationality)

 

Address

Herve Jean-Paul LAMPERT

No. 84 2nd Street, Beverly Hill Lahug, Cebu City 6000, Philippines.

 

Ole Woller RAUBERG

Flat B, 23/F., Caroline Garden, 101 Caroline Hill Road, Causeway Bay, Hong Kong.

 

Jan Hendrik VAN DER HAGEN

C./Aragon 333, 08009 Barcelona, Spain.

 

YEUNG Hoi Fung

Flat C, 28/F., La Rossa A, Coastal Skyline, 12 Tung Chung Waterfront Road, Tung Chung, Lantau Island, Hong Kong.

 

 

SECRETARY

 

YEUNG Hoi Fung  (As per registry dated 21-02-2011)

 

 

HISTORY

 

The subject was incorporated on 21st February, 2007 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Dedon Ltd., name changed to the present style on 14th January, 2009.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Outdoor furniture, etc.

 

Employees:                   20.

 

Commodities Imported:   Philippines, etc.

 

Markets:                       Hong Kong, other Asian countries, Europe, North America, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

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$1.00

 

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., Hong Kong.

 

Standing:                      Normal.

 

 

GENERAL

 

Dedon Asia Pacific Ltd. is a wholly-owned subsidiary of Team Dedon GmbH which is a Germany-based firm.  The subject has become one of the key members of the Dedon Group [Dedon].

The subject is trading in all kinds of outdoor furniture which are manufactured from synthetic fibre.  The products bear the brand name “DEDON”.  Products are manufactured in Cebu, the Philippines.  Now, the manufacturing facilities in the Philippines have about 1,800 and having a floor area of 7,500 sq.m. which is in a site covers an area of 46,000 sq.m.

Being a manufacturer of exclusive outdoor furniture, Dedon is one of the world’s leading providers in the industry.  Dedon, which was founded in 1990 by the former professional soccer player Mr. Bobby Dekeyser, revolutionized the outdoor furniture market within a few years.  With over 3,000 employees, Dedon is now represented on more than 80 countries and opened showrooms worldwide.  The basis for Dedon’s success is a highly durable synthetic fiber, which is washable, extremely easy to care for, not affected by saltwater, sunlight, and high or low temperatures, and furthermore is ecologically degradable.

“DEDON” furniture is designed by international designers, produced based on German standards of quality, and is manufactured by hand.  Every piece of furniture embodies the combination of modern technology and centuries-old craftsmanship  By 2005, “DEDON” has had become a household name.

In Hong Kong, the business of the subject is administered by Mr. Ole Woller Rauberg and Mr. Yeung Hoi Fung.  The latter is a Hong Kong merchant.

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

 

COURT CASES:            None per our records.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.69

UK Pound

1

Rs.70.87

Euro

1

Rs.62.26

 

 

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.