MIRA
INFORM REPORT
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Report Date : |
13.02.2012 |
IDENTIFICATION DETAILS
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Name : |
LIDL HONG KONG LTD. |
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Registered Office : |
Unit 2901-2913, 29/F., Millennium City 2, 378 Kwun Tong Road, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.02.2006 |
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Com. Reg. No.: |
36488288 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Foodstuffs, general merchandise, etc. |
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No. of Employees : |
40 |
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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 and address
LIDL HONG
KONG LTD.
ADDRESS: Unit 2901-2913, 29/F., Millennium
City 2, 378 Kwun Tong Road, Kowloon, Hong Kong.
PHONE: 3628 4800
FAX: 3628 4802
MANAGEMENT
Managing Director: Mr. Volker
Harald Herbert Glaeske
SUMMARY
Incorporated on: 28th
February, 2006.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,500,000.00
Issued: HK$10,500,000.00
Business Category: Foodstuff Trader.
Employees:
40.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Unit 2901-2913, 29/F., Millennium City 2, 378 Kwun Tong Road, Kowloon,
Hong Kong.
Holding Company:-
ERF Beteiligungs GmbH, Germany.
Ultimate Holding Company:-
Lidl Stiftung & Co. KG, Germany.
Associated Companies:-
Lidl Group of Companies
Lidl & Cie, Portugal.
Lidl Asia Pacific Sourcing Ltd., Hong Kong.
Lidl Austria GmbH, Austria.
Lidl Belgium GmbH & Co. KG, Belgium.
Lidl Cyprus GmbH, Cyrpus.
Lidl d.o.o. k.d., Slovenia.
Lidl Danmark K/S, Denmark.
Lidl Dienstleistung GmbH & Co. KG, Germany.
Lidl France, France.
Lidl Hrvatska doo k.d., Croatia.
Lidl Ireland GmbH, Ireland.
Lidl Italia S.r.l., Italy.
Lidl Magyarország Kereskedelmi Bt., Hungary.
Lidl Malta Ltd., Malta.
Lidl Nederland GmbH, the Netherlands.
Lidl North Ireland GmbH, Ireland.
Lidl Polska Sklepy Spozywcze Sp. z o.o. Sp. k., Poland.
Lidl Schweiz GmbH, Switzerland.
Lidl Slovenská republika v.o.s., Slovakia.
Lidl Suomi KY, Finland.
Lidl Supermercados S.A.U., Spain.
Lidl Sverige KB, Sweden.
Lidl UK Ltd., UK.
etc.
BUSINESS REGISTRATION NUMBER
36488288
COMPANY FILE NUMBER
1027052
MANAGEMENT
Managing Director: Mr. Volker
Harald Herbert Glaeske
CAPITAL
Nominal Share Capital: HK$10,500,000.00 (Divided into 10,500,000 shares
of HK$1.00 each)
Issued Share Capital: HK$10,500,000.00
SHAREHOLDER
(As per registry dated 28-02-2011)
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Name |
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No. of shares |
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ERF Beteiligungs GmbH Max-Eyth-Str. 13, D-74638 Waldenburg, Germany. |
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10,500,000 ======== |
DIRECTORS
(As per registry dated 31-03-2011)
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Name (Nationality) |
Address |
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Volker Harald Herbert GLAESKE |
Flat B, 21/F., Block 1, CentreStage, |
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Maarten-Jan KOSTER |
Koning Albertlaan 140, 9000 Gent, Belgium. |
SECRETARY
(As per registry dated 28-02-2011)
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Name |
Address |
Co. No. |
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Tricor Corporate Secretary Ltd. |
Level 28, Three Pacific Place, 1 Queen’s Road East, Wanchai, Hong
Kong. |
0714799 |
HISTORY
The subject was incorporated on 28th February, 2006 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
and Exporter.
Lines: Foodstuffs,
general merchandise, etc.
Employees: 40.
Commodities Imported: China and other Asian countries, etc.
Markets: Germany
and other European countries.
Terms/Sales:
As per contracted.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,500,000.00 (Divided into 10,500,000
shares of HK$1.00 each)
Issued Share Capital: HK$10,500,000.00
Profit or Loss: Making a small profit in the past years.
Condition: Business
is rather active.
Facilities: Making
active use of general banking facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
GENERAL
Incorporated in February 2006, Lidl Hong Kong Ltd. is a wholly-owned
subsidiary of ERF Beteiligungs GmbH which is a Germany-based firm.
At the very beginning, the shares held by ERF Beteiligungs GmbH were
held by Fortra Overseas Services Inc. which is a BVI-registered firm. On 28th March, 2006, Fortra Overseas
Services Inc. transferred all its shares to ERF Beteiligungs GmbH which is the
current sole shareholder.
The current director of the subject Mr. Volker Harald Herbert Glaeske is
a Hong Kong ID Card holder. He has been
in Hong Kong for a very long time.
The subject is the buying office of the Lidl Group in Hong Kong. Lidl is a chain of supermarkets which is a
part of the Schwarz Group.
Besides foodstuffs, the subject is also trading in the following commodities:
arts and crafts, auto parts and accessories, bags, cases and boxes,
construction and decoration, consumer electronics, footwear, textile products,
furniture and furnishing, lights and lighting, office supplies, sporting goods
and recreational products, etc.
Employing about 40 employees, the subject currently is still looking for
“competitive suppliers” from worldwide countries.
Lidl’s full name is Lidl Stiftung & Co. KG. It belongs to the holding company Schwarz,
which also owns the store chains Handelshof and Kaufland.
Lidl is expanding strongly throughout Europe and beyond its
borders. Currently it has 10,000 stores
in more than 25 countries in Europe.
Lidl is a German discount chain which is now one of the most successful
discounters in Germany. It has launched
its international private label fair trade line, Fairglobe, in the Netherlands
and Sweden. The range consists of the
six products: bananas, coffee, tea, juice, chocolate bars and cane sugar.
Lidl is present in the following countries: Germany, Austria, Belgium,
Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece,
Hungary, Ireland, Italy, Luxembourg, Malta, the Netherlands, Poland, Portugal,
Romaina, Solvakia, Slovenia, Norway (withdrawal in 2008), Spain, Sweden,
Switzerland, the United Kingdom, etc.
Lidl was founded in the 1930’s by a member of the Schwarz family, then
called Schwarz Lebensmittel-Sortimentsgrosshandlung. In the 1970’s, the first Lidl stores of
today’s incarnation opened.
In 1930, Josef Schwarz became a partner in Südfrüchte Grosshandel Lidl
& Co., a fruit wholesaler, and he developed the company into a general food
wholesaler. In 1977, under his son
Dieter Schwarz, Lidl & Schwarz began to focus on discount markets, larger
supermarkets, and cash and carry wholesale markets. The first Lidl discount store was opened in
1973, copying the Aldi (Lidl’s main competitor) concept. In 1977, the Lidl chain comprised 30 discount
stores. Dieter Schwarz’s problem was
that he could not just start using the Lidl name. As Schwarz Markt (Black Market) did not seem
as a good idea, he bought the right to use the Lidl name from Ludwig for 1,000
marks.
Now, Lidl is in almost all European countries. Its stores commonly carry about 800 different
items mostly under Lidl’s own brand.
Having its headquarters in Neckarsulm, Germany, Lidl’s business is
active.
The Schwarz Group ranks as the fifth largest retailer in the world after
Walmart, Carrefour, Tesco and Metro AG.
The German-based retailer has experienced rapid growth across Europe for
years but future expansion is likely to be more of a challenge. For instance, sales growth in Germany was
flat in 2009 despite the addition of 80 new stores. The Schwarz Group, parent of hard discount
format Lidl, Kaufland hypermarket and Handelshof supermarket, operates more
than 9,902 stores throughout Europe.
The Schwarz Group has moved into Bulgaria in 2010 by acquiring Plus
discount stores from Tengelmann. Now,
the German retailer has a presence in 24 countries. Lidl is likely to enter North America in
2012.
The turnover of Schwarz, the 4th largest retailer in the world, amounted
to US$82.4 billion in 2011. The top
executive is Mr. Klaus Gehrig.
Since establishing in the United Kingdom in 1994, Lidl has grown
consistently and today has more than 580 stores throughout the United
Kingdom. While it is still a small
player in the United Kingdom market with a grocery market share of less than
5%, its importance along with that of continental no-frills competitor Aldi is
growing.
The subject has got an associated company Lidl Asia Pacific Sourcing
Ltd. which is a Hong Kong-registered company.
The subject is fully supported by Lidl.
Business is active in Hong Kong.
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.64 |
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|
1 |
Rs.78.35 |
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Euro |
1 |
Rs.65.79 |
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.