MIRA INFORM
REPORT
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Report Date : |
24.04.2012 |
IDENTIFICATION DETAILS
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Name : |
WORLD CAT LIMITED |
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Formerly Known As : |
Perm Success Co.
Ltd. |
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Registered Office : |
Unit 77-87, 8/F., Hong Kong Int’l Trade & Exhibition
Centre, 1 Trademart Drive, Wang Cshin Street, Kowloon Bay, Kowloon |
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Country : |
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Date of Incorporation : |
21.06.1989 |
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Com. Reg. No.: |
13112359 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Buying Office; Sourcing and Marketing of all kinds of “PUMA”, “ETONIC” and “TRETORN” brands sporting goods and textile goods especially golf shoes, jogging shoes and soccer shoes, etc. |
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No. of Employees
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70 |
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 : |
No Complaints |
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Litigation : |
Exists |
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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
WORLD CAT
LTD.
Unit 77-87, 8/F., Hong Kong Int’l Trade & Exhibition Centre, 1 Trademart Drive, Wang Chin Street, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 2736 7898, 2737 4399
FAX: 2736 1782, 2375 0365
Executive Director: Mr. Juergen Michael Mahn
Incorporated on: 21st June, 1989.
Organization: Private Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$5,000,000.00
Business Category: Buying Office; Sourcing and Marketing.
Group Sales: € 3,009.0 million (Year ended 31-12-2011)
Employees: 70.
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Good.
Registered Head
Office:-
· Unit 77-87, 8/F., Hong Kong Int’l Trade & Exhibition Centre, 1 Trademart Drive, Wang Chin Street, Kowloon Bay, Kowloon, Hong Kong.
· P.O. Box 98380, Hong Kong.
Immediate Holding
Company:-
Puma S.E., Germany.
[Formerly known as Puma AG Rudolf Dassler Sport]
Intermediate
Holding Company:
Sapardis S.E., France.
Ultimate Holding
Company:
PPR S.A., France.
Associated
Companies:-
PUMA Group of Companies
2Expressions Merchandise Svenska AB, Sweden.
Austria Puma Dassler Ges. m.b.H., Austria.
Brandon AB, Sweden.
Brandon AS, Norway.
Brandon Company AB, Sweden.
Brandon Germany GmbH, Germany.
Brandon Logistics AB, Sweden.
Brandon Merchandising UK Ltd., UK.
Brandon Oy, Finland.
Brandon Services AB, Sweden.
Brandon Stockholm AB, Sweden.
Cobra Golf Inc., USA.
Development Services Ltd., Hong Kong.
Distribuidora Deportiva Puma Tacna S.A.C., Peru.
Distruibuidora Deportiva Puma S.A.C., Peru.
Dobo Cat Ltd., Hong Kong.
Dobo Logic BV, Netherlands.
Dobo NexTH BV, Netherlands.
Dobotex Austria GmbH, Austria.
Dobotex BV, Netherlands.
Dobotex China Ltd., China.
Dobotex Deutschland GmbH, Germany.
Dobotex France SAS, France.
Dobotex International BV, Netherlands.
Dobotex Italia S.r.l., Italy.
Dobotex Korea Ltd., Korea.
Dobotex Ltd., Hong Kong.
Dobotex Spain S.L., Spain.
Dobotex Switzerland AG, Switzerland.
Dobotex UK Ltd., UK.
Guangzhou World Cat Information Consulting Services Co. Ltd., China.
Hunt Sport AB, Sweden.
Importaciones RDS S.A. de C.V., Mexico.
Janed LLC, USA.
Kalola Pty Ltd., Australia.
Liberty China Holding Ltd., British Virgin Islands.
Mount Puma AG (Schweiz), Switzerland.
Premier Flug GmbH & Co. KG, Germany.
Puma Asia Pacific Ltd., Hong Kong.
Puma Australia Pty. Ltd., Australia.
Puma Avanti GmbH, Germany.
Puma Baltic UAB, Lithuania.
Puma Benelux B.V., Netherlands.
Puma Blue Sea Ltd., Malta.
Puma Bulgaria EOOD, Bulgaria.
Puma Canada Inc., Canada.
Puma CHILE S.A., Chile.
Puma China Ltd., China.
Puma Cyprus Ltd., Cyprus.
Puma Czech Republic s.r.o., Czech Republic.
Puma Denmark A/S, Denmark.
Puma Estonia, Estonia.
Puma Finland Oy, Finland.
Puma France SAS, France.
Puma Hellas S.A., Greece.
Puma Hong Kong Ltd., Hong Kong. [Business name: Puma]
Puma Hungary Kft., Hungary.
Puma India Retail Pvt. Ltd., India.
Puma Italia S.r.l., Italy.
Puma Japan KK, Japan.
Puma Korea Ltd., Korea.
Puma Ljubljana, trgovina, d.o.o, Slovenia.
Puma Malta Ltd., Malta.
Puma Mexico Sport S.A. de C.V., Mexico.
Puma Middle East FZ LLC, UAE.
Puma Mostro GmbH, Germany.
Puma New Zealand Ltd., New Zealand.
Puma Nordic AB, Sweden.
Puma North America, USA.
Puma Norway AS, Norway.
Puma Polska Spolka z.o.o., Poland.
Puma Portugal Artigos Desportivos Lda., Portugal.
Puma Premier Ltd., UK.
Puma Racing Ltd., Malta.
Puma Retail AG, Switzerland.
Puma Schweiz AG, Switzerland.
Puma Serbia DOO, Sebia.
Puma Servicios SPA, Chile.
Puma Slovakia s.r.o., Slovakia.
Puma Speedcat SAS, France.
Puma Spor Giyim Sananyi ve Ticaret A.S., Turkey.
Puma Sport Hrvatska d.o.o., Croatia.
Puma Sport Romania S.r.l., Romania.
Puma Sports Distributors (Pty) Ltd., South Africa.
Puma Sports Goods Sdn. Bhd., Malaysia.
Puma Sports India Pvt. Ltd., India.
Puma Sports LA S.A., Uruguay.
Puma Sports Ltda., Brazil.
Puma Sports S.A., South Africa.
Puma Sports Singapore Pte. Ltd., Singapore.
Puma Sports Spain S.L., Spain.
Puma Sprint GmbH, Germany.
Puma Suede Holding Inc., USA.
Puma Taiwan Sports Ltd., Taiwan.
Puma UAE LLC, UAE.
Puma Ukraine Ltd., Ukraine.
Puma United Kingdom Ltd., UK.
Puma Vertrieb GmbH, Germany.
Puma Wheat Accessories Ltd., USA.
Puma-Rus GmbH, Russia.
SC Communication Inc., USA.
Servicios Profesionales RDS S.A. de C.V., Mexico.
Tretorn AB, Sweden.
Tretorn Finland Oy, Finland.
Tretorn Norway AS, Norway.
Tretorn R&D Ltd., Ireland.
Tretorn Sweden AB, Sweden.
Unisol S.A., Argentina.
White Diamond Australia Pty. Ltd., Australia.
White Diamond Properties Ltd., Australia.
Wilderness Holdings Ltd., Botswana.
World Cat Sourcing India Ltd., India.
World Cat Vietnam Co. Ltd., Vietnam.
etc.
13112359
0255704
Executive Director: Mr. Juergen Michael Mahn
Director & Chief Financial Officer: Mr. Hauke Otten
Nominal Share Capital: HK$5,000,000.00 (Divided into 500,000 shares of HK$10.00 each)
Issued Share Capital: HK$5,000,000.00
(As per registry
dated 21-06-2011)
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Name |
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No. of shares |
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Puma AG Rudolf Dassler Sport [Now known as Puma S.E.] Wuersburger Strasse 13, 91074 Herzogenaurach, Germany. |
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499,999 |
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Abacus (Nominees) Ltd., Hong Kong. |
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1 |
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––––––– |
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Total: |
500,000 ====== |
(As per registry
dated 28-02-2012)
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Name (Nationality) |
Address |
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Juergen Michael MAHN |
Unit 77-87, 8/F., Hong Kong
Int’l Trade & Exhibition Centre, 1 Trademart Drive, Wang Chin Street,
Kowloon Bay, Kowloon, Hong Kong. |
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Reiner Heinrich HENGSTMANN |
Unit 77-87, 8/F., Hong Kong Int’l Trade & Exhibition Centre, 1 Trademart Drive, Wang Chin Street, Kowloon Bay, Kowloon, Hong Kong. |
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Hauke OTTEN |
Unit 77-87, 8/F., Hong Kong Int’l Trade & Exhibition Centre, 1 Trademart Drive, Wang Chin Street, Kowloon Bay, Kowloon, Hong Kong. |
(As per registry
dated 21-06-2011)
|
Name |
Address |
Co.
No. |
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ASEC Secretarial Ltd. |
21/F., Tai Yau Building, 181 Johnston Road, Wanchai, Hong Kong. |
0545976 |
The subject was incorporated on 21st June, 1989 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Perm Success Co. Ltd., name changed to the present style on 3rd November, 1989.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Buying Office; Sourcing and Marketing.
Lines: All kinds of “PUMA”, “ETONIC” and “TRETORN” brands sporting goods and textile goods
especially golf shoes, jogging shoes and soccer shoes, etc.
Office Space: 651 sq.m.
Employees: 70. (Office staff)
Commodities
Imported:-
Golf shoes – China, Indonesia and Taiwan.
Jogging shoes – China, Indonesia and Taiwan.
Soccer shoes – China, Indonesia and Taiwan.
Markets: Germany, US and UK, other European countries, etc.
Group Sales: €2,447.3 million (Year ended 31-12-2009)
€2,706.4 million (Year ended 31-12-2010)
€3,009.0 million (Year ended 31-12-2011)
Terms/Sales: L/C or on collection.
Terms/Buying: On various terms.
Nominal Share Capital: HK$5,000,000.00 (Divided into 500,000 shares of HK$10.00 each)
Issued Share Capital: HK$5,000,000.00
Group Net Earnings: € 79.6 million (Year ended 31-12-2009)
€202.2 million (Year ended 31-12-2010)
€230.1 million (Year ended 31-12-2011)
Profit or Loss: Traded at a profitable angle.
Condition: Keeping in an active and good manner.
Facilities: Making active use of general banking facilities.
Payment: Reliable.
Commercial Morality: Good.
Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Sound.
World Cat Ltd. is a wholly owned subsidiary of Puma S.E. (formerly known as Puma AG Rudolf Dassler Sport) [PUMA] which is a Germany-based firm.
The subject is a garment trader. It is PUMA’s own procurement organization and is responsible for purchasing for all PUMA, Tretorn and Cobra products. As the procurement agent of PUMA, the subject is responsible for guaranteeing and ensuring the entire product-procurement process for its brands. This includes selecting suitable suppliers, negotiating delivery and payment terms and supporting the PUMA Sales organization in placing orders, making changes to orders and cancelling orders with manufacturers.
In addition, the subject is responsible for supervising and supporting all production activities – including strict quality inspections – of its suppliers. This ensures a continually high level of product quality and compliance with environmental and social standards concerning production. Suppliers’ compliance with these requirements is coordinated and monitored by PUMA.Safe, a division of the subject, to ensure PUMA’s high standards are followed throughout the entire supply chain.
The subject has outsourced the entire product-procurement process to independent suppliers, most of which have been business partners for many years. In return, these suppliers manage several independent local production sites. In order to optimize workflows, these suppliers have been integrated as strategic partners into the “Strategic Supplier Concept”, which involves intensive relationship management, regular performance evaluations and strategic coordination.
PUMA is one of the world’s leading sportlifestyle companies that designs and develops footwear, apparel and accessories. It is committed to working in ways that contribute to the world by supporting Creativity, Sustainability and Peace.
PUMA starts in Sport and ends in Fashion. Its Sport Performance and Lifestyle labels include categories such as Football, Running, Motorsports, Golf and Sailing. Sport Fashion features collaborations with renowned designer labels such as “Alexander McQueen”, “Mihara Yasuhiro” and “Sergio Rossi”.
The PUMA Group owns the brands “PUMA”, “Cobra Golf” and “Tretorn”. PUMA, which was founded in 1948, distributes its products in more than 120 countries, employs more than 11,000 people worldwide and has headquarters in Herzogenaurach/Germany, Boston, London and Hong Kong.
In the financial year 2011, currency-adjusted consolidated sales rose by 12.1% to €3,009.0 million (2010: €2,706.4 million). In the reporting currency, the Euro, consolidated sales were 11.2% higher than in the previous year. Management thus achieved its sales target, reaching the milestone of €3.0 billion in consolidated sales for the first time. The change in the group of consolidated companies in the reporting year had no material impact on sales.
In the Footwear segment, currency-adjusted sales rose by 9.9% to €1,539.5 million, or 51.2% of consolidated sales (previous year: 52.6%).
In the Apparel segment, currency-adjusted sales rose by 9.9% to €1,035.6 million, or 34.4% of consolidated sales (previous year: 34.8%).
In the Accessories segment, currency-adjusted sales jumped by 27.3% to €433.9 million, primarily due to the full-year effect of the Cobra Golf acquisition in April 2010. As a result, Accessories accounted for 14.4% of consolidated sales, up from 12.6% in the previous year.
Operating income (EBIT) increased sharply from €306.8 million the previous year to €333.2 million in 2011 (an increase of 8.6%). At Group level, net earnings jumped 13.8% to €230.1 million (2010: €202.2 million).
The subject is fully supported by PUMA. History in Hong Kong is over twenty-two years and nine months.
On the whole, consider the subject good for normal business engagements.
REMARKS:
Court case record:-
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Action
Date |
Case
No. |
Plaintiff |
Defendant |
Cause |
Amount |
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Feb. 2007 |
H325 |
Mandarin Overseas Ltd. |
World Cat Ltd. |
Order |
Not stated |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.23 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.68.84 |
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.