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Report Date : |
22.02.2012 |
IDENTIFICATION DETAILS
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Name : |
AX 21 (HONG KONG) LTD. |
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Registered Office : |
3/F., One Island East, 18 Westlands Road, Quarry Bay |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.01.1995 |
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Com. Reg. No.: |
18803628 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Wholesaler, Re-exporter and Retailer of all kinds of fashions. |
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No. of Employees : |
140. (Including associates and shops in Hong
Kong) |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
AX 21
(HONG KONG) LTD.
(Business name: AX ARMANI EXCHANGE)
Address:
3/F., One Island East,
18 Westlands Road,
Quarry Bay, Hong Kong.
PHONE: 2629 6269, 2629 6388
FAX: 2956 3630
Managing Director: Mr. Fu Wei
Cheng, William
Incorporated on: 3rd
January, 1995.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$500,000.00
Business Category: Fashion Trader.
Employees:
140. (Including associates and shops in Hong Kong)
Main Dealing Banker: BNP Paribas, Hong Kong Branch.
Banking Relation: Good.
Registered Head Office:-
3/F., One Island East, 18 Westlands Road, Quarry Bay, Hong Kong.
Retailing Shops:- [Under the name
of AX Armani Exchange]
Shop C, G/F., Entertainment Building, 30 Queens Road Central, Hong
Kong. [Tel: 2521 8422]
Shop 428-429, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong. [Tel: 2506 1688]
Shop 1063A, IFC Mall, 1 Harbour View Street,
Central, Hong Kong. [Tel:
2234 7262]
Shop 239, Cityplaza, Taikoo Shing Road,
Taikoo Shing, Hong Kong. [Tel:
2967 6632]
Shop 6, 7 & 20, G/F. & Shop F4,
1/F., Fashion Walk, 11-19 Great George Street, Causeway Bay, Hong Kong. [Tel:
2881 8200]
Shop 101, Pacific Place, Queensway, Hong
Kong. [Tel:
2537 6632]
Shop G36-37, G/F. & Shop B1038-1048,
B1/F., Miramar Shopping Centre, 132 Nathan Road, Tsimshatsui, Kowloon, Hong
Kong. [Tel:
2730 6165]
Shop 1049, 1st Level, Elements, 1 Austin
Road West, Kowloon, Hong Kong. [Tel:
2196 8272]
G/F., Imperial Building, 54A-66 Canton Road,
Tsimshatsui, Kowloon, Hong Kong. [Tel:
2730 9682]
Shop L107-108, Level One, Langham Place, 8
Argyle Street, Mongkok, Kowloon, Hong Kong.[Tel: 3514 4202]
UG-10, Festival Walk, 80 Tat Chee Avenue,
Kowloon Tong, Kowloon, Hong Kong.[Tel: 2265 8233]
Shop 301, New Town Plaza, Shatin, New
Territories, Hong Kong. [Tel:
2681 0883]
Holding Company:-
AX 21 Holdings Pte. Ltd., Singapore.
Sister Companies:-
AX 21 (Taiwan) Pte. Ltd., Taiwan.
AX 21 Singapore Pte. Ltd., Singapore.
Associated Companies:-
Albery Ltd., Hong Kong.
[Business name: AX Armani Exchange under BR No. 30331699]
CK Retail 21 (Hong Kong) Ltd., Hong Kong.
Club 21 (Hong Kong) Ltd., Hong Kong.
Club 21 (Thailand) Co. Ltd., Thailand.
Club 21 Enterprises (Hong Kong) Ltd., Hong Kong.
Club 21 Pte. Ltd., Singapore.
Club 21 Retail (Hong Kong) Ltd., Hong Kong.
Club 21 Retail Holdings Pte. Ltd., Singapore.
Club 21 Retail Malaysia Sdn. Bhd., Malaysia.
Como Holdings (UK) Ltd., UK.
Kuo Oil Ltd., Hong Kong.
Mogems (Hong Kong) Ltd., Hong Kong.
Oval Enterprises Ltd., Hong Kong.
[Winding up]
18803628
0502010
Managing Director: Mr. Fu Wei
Cheng, William
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$500,000.00
(As per registry dated 03-01-2012)
|
Name |
|
No. of shares |
|
AX 21 Holdings Pte. Ltd. 215 Henderson Road, #01-09 Henderson Industrial Park, Singapore
159554. |
|
499,999 |
|
ONG Beng Huat |
|
1 |
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Total: |
500,000 ====== |
(As per registry dated 03-01-2012)
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Name (Nationality) |
Address |
|
FU Wei Cheng, William |
47 Thomson Green, Singapore 574923. |
|
ONG Beng Huat |
Unit 3903, 39/F., Block C, Imperial Court, 62G Conduit Road, Hong
Kong. |
ONG Beng Huat (As per registry
dated 03-01-2012)
The subject was incorporated on 3rd January, 1995 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Club 21 (Hong
Kong) Ltd., name changed to the present style on 13th August, 1997.
Formerly the subject was located at Suite 02-07, 23A/F., Tower 1, The
Gateway, 25 Canton Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present
address with effect from 8th September, 2008.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Wholesaler, Re-exporter and Retailer.
Lines: All
kinds of fashions.
Brand Names: DONNA
KARAN, DKNY, etc.
Employees: 140. (Including associates and shops in Hong Kong)
Commodities Imported: Imported from Europe, USA, etc.
Markets: Hong
Kong, China, Korea, Taiwan, etc.
Terms/Sales:
As per contracted.
Terms/Buying: L/C
and T/T.
Hong Kong Retail Management Association
Ltd., Hong Kong.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$500,000.00
Profit or Loss: Making a small profit every year.
Condition: Business
is rather active.
Facilities: Rather
actively using general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker:
BNP Paribas,
Hong Kong Branch.
Standing:
Normal.
AX 21 (Hong Kong) Ltd. is a wholly-owned subsidiary of AX 21 Holdings Pte.
Ltd. which is a Singapore-based firm.
The subject is importing, wholesaling, re-exporting and retailing
fashions bearing significant brand names such as DONNA KARAN, DKNY and A/X ARMANI
EXCHANGE. Fashions are wholesaled and retailed in
Hong Kong and re‑exported to South Korea, Southeast Asia, etc.
Currently, the subject has about twelve retailing shops in Hong Kong.
The subject has had another associated company known as Club 21 Pte.
Ltd. [Club 21] in Singapore. Club 21 is
engaged in wholesaling, distributing and sourcing branded fashions. It is also engaged in retailing. It focuses on luxury retail from fashion to
accessories, homewares, and technology.
Club 21 operates in Australia, China, Hong Kong, Indonesia,
Malaysia, Singapore, Taiwan, Thailand, the United Kingdom, and the United
States. Club 21 is based in
Singapore. It operates as a subsidiary
of Holdings (UK) Ltd. This firm is a
member of the Como Group.
The subjects Managing Director Mr. William Fu is also the director of
Club 21 Retail (Hong Kong) Ltd. [formerly known as HPL-21 (Hong Kong)
Ltd.] which is operating DKNY boutique and DKNY Cafe. The holding company of Club 21 Retail (Hong
Kong) Ltd. is Club 21 Retail Holdings Pte. Ltd. [Club 21 Retail] (formerly
known as HPL-21 Holdings Pte. Ltd.), a Singapore-based firm.
Club 21 Retail is a well-established Singapore firm set up in 1972
engaged in entertainment and recreational business, which has expanded into
apparel retailing in Hong Kong and North Asia. Club 21 Retail has been marketing the
following brand names in Asia: Armani Colleczioni, Armani Exchange,
Armani Jeans, AX Armani Exchange, Balenciaga, Betula,
Blackjack, CK - Mens, CK Calvin Klein, Club 21
Collectibles, Club 21 Gallery, Club 21 Ladies, Club
21 Men, D&G, Diesel, DKNY Kids, DKNY,
Dolce & Gabbana, Donna Karan, Emporio Armani,
Giorgio Armani, Ishop, Issey Miyake, Jil Sander,
Kids 21, Marc By Marc Jacobs, Marina Rinaldi, Marni,
Max & Co. Max Mara, Mulberry, Paul Smith, Pomellato,
Twelve 21, etc. The products of
these brands are chiefly marketed in Hong Kong, Taiwan, China, Japan,
South Korea, the Philippines and the USA.
In December 1995, Joyce Boutique Ltd. lost the exclusive distribution
rights for the USA-based Donna Karan Co.s fashion while Club 21 Retail has
successfully got the right since then.
Now, besides retailing DKNY jeans and kids garments, DKNY
also retails Donna Karans products.
Mr. William Fu is also the director of Kuo Oil Ltd., a Hong Kong-based
firm, which is a subsidiary of Kuo International Pte. Ltd. [KIPL], also a
Singapore-based firm. KIPL is closely
related to Pertamina Oil of Indonesia, an oil company owned by the Indonesian Government.
Mr. William Fu and Mr. Ong Beng Huat are concurrently operating Club 21
(Hong Kong) Ltd. which is also engaged in fashions trading. Club 21 (Hong Kong) Ltd. is located at
the same office as Club 21 Retail (Hong Kong) Ltd.
AX 21 Holdings Pte. Ltd. is also a garment wholesaling and retailing
firm in Singapore. Its subsidiary in
Singapore is AX 21 Singapore Pte. Ltd.
This firm ranked the 350th in 2004/2005 in Singapores 500
small-to-medium enterprises. AX 21
Holdings Pte. Ltd. has got a subsidiary in Taiwan known as AX 21 (Taiwan) Pte.
Ltd. which is also a garment trading firm.
Business of this firm is active.
The subjects business is active.
Annual sales turnover is significant.
Supported by its holding company in Singapore.
The total employees of Club 21 are over 3,800 throughout the world.
On the whole, in view of the subjects background and parentage,
consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
|
|
1 |
Rs.77.80 |
|
Euro |
1 |
Rs.65.17 |
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 |
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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 |
|
<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 SCs 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.