MIRA INFORM
REPORT
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Report Date : |
24.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ANDRE
HK BUYING OFFICE
LTD. |
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Registered Office : |
Room 603-607, 6/F., Wharf T&T Centre, Harbour City, 7 Canton Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.09.1989 |
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Com. Reg. No.: |
13322356 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Exporter and Buying Office of all kinds of footwear, handbags, ladies’ underwear and garments |
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 : |
No Complaints |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
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
ANDRE HK BUYING
OFFICE LTD.
Company ADDRESS
Room 603-607, 6/F., Wharf T&T Centre, Harbour City, 7 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2735 8656, 2730 6998
FAX: 2735 8672, 2375 9643, 2730 9870
EMAIL: lucille@ahkbo.com.hk
MANAGEMENT
Executive Director: Ms. Antoine Marie Francois Etienne Metzger
SUMMARY
Incorporated on: 8th September, 1989.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$500,000.00
Business Category: Exporter and Buying Office.
Employees: 38. (Office staff)
Main Dealing Banker: Natixis, Hong Kong Branch.
Banking Relation: Good.
Company ADDRESS
Registered Head
Office:-
Room 603-607, 6/F., Wharf T&T Centre, Harbour City, 7 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
Holding Company:-
Vivarte S.A. [Formerly known as Groupe André S.A.]
28 avenue de Flandre, 75919 Paris, France.
[Tel: 33-1-44-72-30-01; Fax: 33-1-40-05-09-37]
Subsidiary/Associated
Companies:-
· André Ceska SRO, Czech Republic.
· Andre International B.V., The Netherlands.
· André International BV, Belgium.
· André Polska Sp.z.o.o., Poland.
· Europeenne de Negoce Andre S.A.S., France.
· La Halle Hungaria, Hungary.
etc.
BUSINESS REGISTRATION NUMBER
13322356
COMPANY FILE NUMBER
0262712
MANAGEMENT
Executive Director: Ms. Antoine Marie Francois Etienne Metzger
Contact Person: Mr. Christophe Guillot
CAPITAL
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital: HK$500,000.00
SHAREHOLDER
(As per registry
dated 08-09-2010)
|
Name |
|
No. of shares |
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Vivarte S.A. 28 avenue de Flandre, 75919 Paris, France. |
|
500,000 ====== |
DIRECTORS
(As per registry
dated 08-09-2010)
|
Name (Nationality) |
Address |
|
Claude BUFFARD |
37, rue du Colisee, 75008 Paris, France. |
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Antoine Marie Francois Etienne METZGER |
81 Rue Du Mal Foch, La Madeleine, France. |
SECRETARY
(As per registry
dated 08-09-2010)
|
Name |
Address |
Co.
No. |
|
Wiseman Secretarial & Management Services Ltd. |
22/F., Tai Yau Building, 181 Johnson Road, Wanchai, Hong Kong. |
0040224 |
HISTORY
The subject was incorporated on 8th September, 1989 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Kaninford Ltd., name changed to the present style on 25th May, 1990.
Formerly the subject was located at Room 1129-1130, 11/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in October 1995.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Exporter and Buying Office.
Lines: All kinds of footwear, handbags, ladies’ underwear and garments.
Employees: 38. (Office staff)
Commodities Handled: Bought in Hong Kong and also imported from China and other Asian countries.
Markets: France and other European countries.
Terms/Sales: L/C, T/T and D/P.
Terms/Buying: L/C, T/T, O/A, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital: HK$500,000.00
Mortgage or
Charge:-
Date of A Charge Over Cash Deposit: 22-04-1997
Amount: To secure all moneys, obligations and liabilities
Property: All cash in the deposit dated 22-04-1997 in the amount US$2.5 million and
interests
Mortgagee: Crédit Lyonnais, Hong Kong Branch. [Merged into Calyon]
Profit or Loss: Business is profitable.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Good.
Bankers:-
· Natixis, Hong Kong Branch.
· Calyon, Hong Kong Branch.
· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
GENERAL
Andre HK Buying Office Ltd. is a wholly-owned subsidiary of Vivarte S.A. (formerly known as Groupe André S.A. [Groupe André]). Groupe André was a French group founded in 1860 in Paris.
The subject is a buying office for Vivarte S.A. to purchase footwear, handbags, lingerie and underwear, garments and other textile products in the Great China region. Business has been active and good. Commodities are chiefly exported to France and the other European countries. Currently the subject has developed close business ties with overseas buyers, suppliers, fabric manufacturers, etc. The subject has about 38 persons in Hong Kong.
The principal activity of Vivarte
S.A. is to manufacture and retail footwear, ready-to-wear clothing and
accessories. It also produces sports,
work and safety footwear and clothing and household products. French footwear brands carried include “La Halle aux Chaussures”, “Chaussland”, “Andre”, “Orcade”, “Minelli” and “Besson”. Clothing brands include “Caroll”, “Kookai”, “Creeks” and “Liberto”. Retail outlets include “La Halle aux Vetements”, “Megal 1”, “Vetland” and “Spot”.
The following firms are the subsidiaries of Vivarte S.A.:-
Accessoire
Anaïs
Anbil Future
André
André Ceska SRO (Czech Republic)
André International BV (Belgium)
André Polska (Poland)
Caroll International
Chaussures Cendry S.A.
Compagnie Européenne de la Chaussure
Compagnie Internationale de la Chaussure
Compagnie Internationale du Textile
Compagnie Vosgienne de la Chaussure
Creeks
Europeenne de Negoce Andre S.A.S.
Finançière Agora
Financière de Gergovie
Gamma Automation
GD 5
Kookaï
La Halle Hungaria (Hungary)
La Halle Vêtements
Minelli
Mod 2000
Naf Naf S.A.
Societe d’Exploitation Pinet
Super Sport
Tro Trapos
Vivarte S.A. was a listed firm in Paris, France. It is a giant in European shoes and clothes. Being one of the Europe’s leading manufacturers and sellers of footwear and apparel, it operates some 4,400 stores in France and about 10 in other countries in Europe, including Germany, Italy, and Spain, under about 20 different banners. Its discount footwear and apparel stores are operated under the La Halle aux Chaussures, Chaussland, and Besson Chaussures names. Other stores are operated under the Caroll, Kookai, La Halle, Naf Naf, Super Sport, and Fosco names. Vivarte S.A. is owned by the UK-based private equity firm Charterhouse Capital Partners, which acquired the company from PAI Partners in 2007.
Vivarte S.A. has over 22,000 employees in total worldwide. Annual sales turnover ranges from US$2.1 to 2.3 billion.
The subject is fully supported by Vivarte S.A.
On the whole, in view of the subject’s background and parentage, consider it good for normal business engagements.
COURT CASES: None per our.
Bottom of Form
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.06 |
|
UK Pound |
1 |
Rs.79.15 |
|
Euro |
1 |
Rs.69.03 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.