MIRA INFORM REPORT

 

 

Report Date :           

07.01.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

ATICO  INTERNATIONAL  (ASIA)  LTD.

 

 

Registered Office :

16/F. - 19/F., Prince’s Building, 10 Chater Road, Central

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

03.11.2005

 

 

Com. Reg. No.:

36226103

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Toys and games, watches and clocks, household products, furniture, decorations and crafts, giftware and premiums, giftware, stationery, electric appliances, telecommunication equipment, consumer electronics, etc.

 

 

No. of Employees :

140.  (Including associates)

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

ATICO  INTERNATIONAL  (ASIA)  LTD.

 

 

Company ADDRESS

 

G/F. - 2/F., Hunghom Bay Centre, 22-24 Hung Hom Wan Street, Hunghom, Kowloon, Hong Kong.

PHONE:                        2369 6683

FAX:                 2739 7194

E-MAIL:                        aticohk@aticohk.com

wilson.chan@aticohk.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Wilson Chan

 

 

SUMMARY

 

Incorporated on:             3rd November, 2005.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$5,000,000.00

Issued:              HK$5,000,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Group Annual Turnover:  HK500~550 million.

 

Employees:                   140.  (Including associates)

 

Main Dealing Banker:     Hang Seng Bank Ltd., Hong Kong.

 

Banking Relation:           Good.

Company ADDRESS

 

Registered Office:-

16/F. - 19/F., Prince’s Building, 10 Chater Road, Central, Hong Kong.

 

Head Office & Showroom:-

G/F. - 2/F., Hunghom Bay Centre, 22-24 Hung Hom Wan Street, Hunghom, Kowloon, Hong Kong.

 

Branch Office & Showroom:-  (Houseware & Furniture Division)

Shop G27, G/F., Bauhinia Plaza, Site 11, Whampoa Garden, Hunghom Road, Hunghom, Kowloon, Hong Kong.

[Tel: 2303 2100;  Fax: 2334 5713]

 

Holding Company:-

Atico Investments Ltd., British Virgin Islands.

 

Ultimate Holding Company:-

Atico International USA Inc., USA.

 

Associated Companies:-

Atico Group of Companies

·         Atico Australia Pty. Ltd., Australia.

·         Atico Buying Services Ltd., Hong Kong.

·         Atico do Brasil Ltda., Brazil.

·         Atico Hong Kong (Holdings) Ltd., British Virgin Islands.

·         Atico Inspection Services Ltd., Hong Kong.

·         Atico International (China) Ltd., Hong Kong.

·         Atico International (H.K.) Ltd., Hong Kong.

·         Atico International (Holdings) Ltd., British Virgin Islands.

·         Atico International (Shenzhen) Co. Ltd., China.

·         Atico International Ltd., Hong Kong.  [Dormant]

·         Atico International Ltd., Thailand.

·         Atico International UK Ltd., UK.

·         Atico International USA Inc. Guangzhou Representative Office, China.

·         Atico International USA Inc. Shanghai Representative Office, China.

·         Atico International USA Inc. Shenzhen Representative Office, China.

·         Atico Italia Srl, Italy.

·         Atico Japan Ltd., Japan.

·         Atico Korea Ltd., Korea.

·         Atico Overseas (Holdings) Ltd., British Virgin Islands.

·         Atico Overseas Ltd. India Liaison Office, India.

·         Atico Overseas Ltd. Vietnam Representative Office, Vietnam.

·         Atico Overseas Ltd., Hong Kong.

·         Atico Slovenia Centrus d.o.o., Slovenia.

·         Atico Taiwan (Holdings) Ltd., Taiwan.

·         New Atico Trading Sdn. Bhd., Malaysia.

etc.

BUSINESS REGISTRATION NUMBER

 

36226103

 

 

COMPANY FILE NUMBER

 

1005344

 

 

MANAGEMENT

 

Managing Director:         Mr. Wilson Chan

Contact Persons:           Mr. Lee Cheuk Man, Alan (Head Office & Showroom)

Mr. George Ward           (Head Office & Showroom)

Mr. Bruce Lu                 (Houseware & Furniture Division)

Mr. Eddie Ng                 (Houseware & Furniture Division)

 

 

CAPITAL

 

Nominal Share Capital:   HK$5,000,000.00 (Divided into 100 shares of HK$50,000.00 each)

 

Issued Share Capital:     HK$5,000,000.00

 

 

SHAREHOLDER

(As per registry dated 03-11-2011)

 

Name

 

No. of shares

Atico Investments Ltd.

P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands.

 

100

===

 

 

DIRECTORS  

(As per registry dated 03-11-2011)

 

Name

(Nationality)

 

Address

Steve Allan FELKOWITZ

3901 E, Lake Estates Dr., Davie, FL 33328, USA.

 

Wilson CHAN

G/F. - 2/F., Whampoa House, Hunghom Bay Centre, 22‑24 Hung Hom Wan Street, Hunghom, Kowloon, Hong Kong.

 

LEE Cheuk Man

1/F., Hunghom Bay Centre, 22-24 Hung Hom Wan Street, Hunghom, Kowloon, Hong Kong.

 

LIU Yin Chi

4F, No. 12, Alley 4, Lane 65, Section 3, Chongqing South Road, Lin 26, Yingpu Li, Zhongzheng District, Taipei, Taiwan.

 

KAO Ping Hung

5F, No. 370, Jihe Road, Lin 26, Fujia Li, Shilin District, Taipei, Taiwan.

 

 

SECRETARY

(As per registry dated 03-11-2011)

 

Name

Address

Co. No.

Sekots Secretarial Services Ltd.

16/F - 19/F., Prince’s Building, 10 Chater Road, Central, Hong Kong.

0028739

 

 

HISTORY

 

The subject was incorporated on 3rd November, 2005 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, Exporter and Wholesaler.

 

Lines:                           Toys and games, watches and clocks, household products, furniture, decorations and

crafts, giftware and premiums, giftware, stationery, electric appliances, telecommunication equipment, consumer electronics, etc.

 

Head Office & Showroom Area:  40,000 sq.ft. in Hong Kong.

 

Employees:                   140.  (Including associates)

 

Commodities Imported:   China and other Asian countries.

 

Markets:                       US, Europe, Central & South America, Australia, etc.

 

Group Annual Turnover:  HK500~550 million.

 

Terms/Sales:                 Various terms.

 

Terms/Buying:               As per contracted.

 

 

MEMBERSHIP

 

The Hong Kong General Chamber of Commerce, Hong Kong.
[Membership No. HKA0163]

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$5,000,000.00 (Divided into 100 shares of HK$50,000.00 each)

 

Issued Share Capital:     HK$5,000,000.00

 

Mortgage or Charge:       (See attachment)

 

Profit or Loss:                Making a profit every year.

 

Condition:                      Keeping in a very active state.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      So far so good.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

·         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

·         Hang Seng Bank Ltd., Hong Kong.

·         China Construction Bank (Asia) Corporation Ltd., Hong Kong.

·         Wells Fargo Bank N.A., Hong Kong Branch.

Standing:  Good.

 

 

GENERAL

 

Atico International (Asia) Ltd. is a wholly-owned subsidiary of Atico Investments Ltd. which is a BVI-registered firm.  The ultimate holding company of the subject is Atico International USA Inc. [Atico], a US-based firm.  Atico is headquartered in Fort Lauderdale, Florida, the United States.

The subject’s main office and showroom is located at G/F. - 2/F., Hunghom Bay Centre, 22-24 Hung Hom Wan Street, Hunghom, Kowloon, Hong Kong.  Its Houseware & Furniture Division, branch office and showroom are located at Shop G27, G/F., Bauhinia Plaza, Site 11, Whampoa Garden, Hunghom Road, Hunghom, Kowloon, Hong Kong.

The subject has got a main associated company Atico Buying Services Ltd. [ABS] located at its operating address.  The subject and ABS are engaged in the same lines of business, more or less.

The subject provides worldwide retailers, distributors and wholesalers with comprehensive product development and sourcing services.

The subject is responsible for sourcing the following commodities in the Asia Pacific region:-

·         Toys and Games — Soft Toys, Dolls, Battery Operated Toys

·         Electronic Games and Toys — Electronic Pet

·         Computer Peripherals such as Software, USBs, Memory Cards, Electronic Devices and Products

·         Watches and Clocks — Watches, Clocks

·         Non-Electrical Household Products — Tableware – Porcelain / Ceramic / Stone

·         Furniture — Outdoor, Western Style, Upholstered

·         Decorations and Crafts — Rattanware / Bambooware / Strawware / Wickerwork, Flowers and Plants, Artificial

·         Giftware and Premiums — Jewellery Boxes, Giftware

·         Stationery and Office Equipment — Writing Equipment, Stationery

·         Audio-Visual Products — Audio Equipment, General Electric Appliances

·         Telecom Products — Telephone and Telephone Equipment (Excluding Mobile Phone)

·         Consumer Electronics (Miscellaneous) — Electronic Gadgets, Calculators

·         Video Games — Video Game Accessories, Handheld Video Game

·         Festival Items and Party Favours — Christmas Decorations

Commodities are chiefly re-exported to the United States.  Other markets include Europe, Central & South America, Australia, etc.  Business is active.

The US-based Atico is a full service sourcing and product development company that provides retailers, wholesalers and distributors with the insight and worldwide relationships to build an import program.

Founded in 1975, Atico is the largest US-based, global sourcing and product development supply chain management company.  Backed by more than 1,000 trained and experienced professionals from around the world,  Atico has built exceptional strong relationships with leading manufacturers, distributors, wholesalers and retailers.

Atico is able to offer clients with the following services:-

·         Product Sourcing

·         Product Development

·         Other Related Logistic Services

Clients rely on Atico to develop and procure a vast selection of innovative products, as well as to create programs that will lower their cost and increase their profits in a wide range of hardlines, fashion apparel and food/confectionery, etc.

Many buyers from all retail channels rely on Atico’s comprehensive services, which include turnkey buy plans, colour and trend analysis, regulatory, logistical, art and design support.  Being a top merchandiser, Atico sources the world, to offer a wide range of products as required by customers.

Besides the subject, Atico has set up affiliated companies or subsidiaries in China, Japan, South Korea, Taiwan, Vietnam, Malaysia, Thailand, India, Italy, the United Kingdom, Brazil, Australia, Slovenia, and the United States.  Atico has had three representative offices in China which are respectively in Guangzhou, Shenzhen Special Economic Zone and Shanghai.

In order to penetrate the China market further and increase its sourcing activities, Atico has set up Atico International (Shenzhen) Co. Ltd. in Shenzhen Special Economic Zone, China.  This firm is working with the subject closely.

Atico offers retailers, wholesalers, OEM manufacturers and distributors more than 350,000 products — from over 40 categories and 100’s of sub-categories — sourced from around the world.

Atico’s product design and development teams identify emerging trends and technology for product adaptation throughout its Hardlines, Softlines and Food/Confectionery Divisions.

The annual sales turnover of the subject (including associates) ranges from HK$500 to 550 million, making good profits in most of the past years.

The contact persons of the subject are Mr. Alan Lee and Mr. George Ward while the contact persons of Houseware & Furniture Division are Mr. Bruce Lu and Mr. Eddie Ng.

The subject is fully supported by Atico.  History in Hong Kong is over six years and two months.

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

 

MORTGAGE OR CHARGE

 

Date

Particulars

Amount

15-03-2006

Instrument:      Security Assignment (Export Letters of Credit)

Property:

In consideration of the Bank’s making or agreeing to make available or continuing advances or otherwise giving time, credit, banking facilities or other accommodation

Mortgagee:      Wells Fargo Bank N.A., Hong Kong Branch.

All amounts

26-11-2007

Instrument:      Security Assignment (for limited company)

Property:

1)   Security

2)   Negative Covenants

3)   Definitions and Interpretations

Mortgagee:      Wells Fargo Bank N.A., Hong Kong Branch.

Secured Liabilities

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.78

UK Pound

1

Rs.81.79

Euro

1

Rs.67.46

 

 

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.