MIRA INFORM REPORT

 

 

Report Date :           

10.01.2012

 

IDENTIFICATION DETAILS

 

Name :

HEMA  FAR  EAST  LTD.

 

 

Registered Office :

33/F., Saxon Tower, 7 Cheung Shun Street, Lai Chi Kok, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

19.07.1999

 

 

Com. Reg. No.:

30243707

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Buying Office of Garments, foodstuffs, bicycle equipment, gardening tools, office supplies, accessories, etc.

 

 

No. of Employees :

10

 

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

 

HEMA  FAR  EAST  LTD.

 

 

Company ADDRESS

 

33/F., Saxon Tower, 7 Cheung Shun Street, Lai Chi Kok, Kowloon, Hong Kong.

PHONE:            2245 5033,  2959 4500,  2959 4511

FAX:                 2245 5050

 

 

MANAGEMENT

 

Managing Director:  Mr. Wilhelmina Rolanda Van Den Heuvel-Hiddema

 

 

SUMMARY

 

Incorporated on:             19th July, 1999.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$150,000.00

Issued:              HK$50,000.00

 

Business Category:        Buying Office.

 

Employees:                   10.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

33/F., Saxon Tower, 7 Cheung Shun Street, Lai Chi Kok, Kowloon, Hong Kong.

 

Holding Company:-

·         HEMA B.V., The Netherlands.

 

Ultimate Holding Company:-

·         Lion Capital LLP, UK.

 

Associated Companies:-

·         HEMA Belgie BVBA, Belgium.

·         HEMA Deutschland GmbH, Germany.

·         HEMA France SAS, France.

 

 

BUSINESS REGISTRATION NUMBER 

 

30243707

 

 

COMPANY FILE NUMBER

 

0682664

 

 

MANAGEMENT

 

Managing Director:  Mr. Wilhelmina Rolanda Van Den Heuvel-Hiddema

 

 

CAPITAL

 

Nominal Share Capital: HK$150,000.00 (Divided into 100 “A” shares, 300 “B” shares, 300 “C” shares, 200 “D” shares, 100 “E” shares, 100 “F” shares, 100 “G” shares, 100 “H” shares, 100 “I” shares and 100 “J” shares of HK$100.00 each)

 

Issued Share Capital: HK$50,000.00

 

 

SHAREHOLDER

(As per registry dated 19-07-2011)

 

Name

 

No. of shares

 

 

“B”

“C”

HEMA B.V.

NDSM-straat 10, 1033 SB Amsterdam, The Netherlands.

 

250

===

250

===

 

 

DIRECTORS

(As per registry dated 10-10-2011)

 

Name

(Nationality)

 

Address

Charlotte Alida Maria HOOIJDONK

Valeriusstraat 6 II, 1071 MH Amsterdam, The Netherlands.

 

Aart Andries WALTER

Belle van Zuylenhof 9, 1277 CT Huizen, The Netherlands.

 

Wilhelmina Rolanda VAN DEN HEUVEL-HIDDEMA

House 47, Hing Keng Shek, Sai Kung, New Territories, Hong Kong.

 

Ronald Adriaan VAN ZETTEN

Amsteldijk Noord 107, 1183 TH Amstelveen, The Netherlands.

 

 

SECRETARY

(As per registry dated 19-07-2011)

 

Name

Address

Co. No.

PYCO Ltd.

16/F., Des Voeux Commercial Centre, 212-214 Des Voeux Road Central, Hong Kong.

1305362

 

 

HISTORY

 

The subject was incorporated on 19th July, 1999 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Vendex KBB East Ltd., name changed to the present style on 9th May, 2007.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

 

Activities:                      Buying Office.

 

Lines:                           Garments, foodstuffs, bicycle equipment, gardening tools, office supplies, accessories,

etc.

 

Employees:                   10.

 

Commodities Imported:   China, other Asian countries, etc.

 

Markets:                       Netherlands, other European countries, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital: HK$150,000.00 (Divided into 100 “A” shares, 300 “B” shares, 300 “C” shares, 200 “D”

shares, 100 “E” shares, 100 “F” shares, 100 “G” shares, 100 “H” shares, 100 “I” shares and 100 “J” shares of HK$100.00 each)

 

Issued Share Capital:     HK$50,000.00

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Normal.

GENERAL

 

Hema Far East Ltd. is wholly-owned by HEMA B.V. [HEMA] which is a Netherlands-based firm.  The subject is the buying office of HEMA in Hong Kong.  Business has been active.

The subject has four Dutch directors while Mr. Wilhelmina Rolanda Van Den Heuvel-Hiddema is residing in Hong Kong.  Now, the subject has set up a representative office in Shanghai, China.

HEMA (originally an acronym for Hollandsche Eenheidsprijzen Maatschappij Amsterdam, “Dutch Standard Prices Company Amsterdam”) is a Dutch dimestore chain.  It was part of the Maxeda company until June 2007, when it was bought by Lion Capital LLP.  The chain is characterized by relative low pricing of generic housewares, which are mostly made by and for the chain itself, often combined with original design.

The first HEMA opened in Amsterdam on 4 November 1926, set up by the Jewish owners of the luxury department store De Bijenkorf.  Originally, as a price-point retailer at prime locations in town centers, goods were sold using standard prices (hence its name), with everything having a Standard price of 10, 25 or 50 cents, and later also 75 and 100 cents.  The relative economic boom in the Netherlands in the period 1900-1930 benefited HEMA.

After World War II, this model could not be sustained and the standard pricing system was abandoned.  But a period of rapid expansion followed: now almost every town of any importance in the Netherlands has a HEMA.  Locations carry a wide variety of goods, including clothing, food, bicycle equipment, gardening tools, and office supplies.  As of 2010, standard pricing was reintroduced.

Now, HEMA is an international retail organisation with more than 550 stores in the Netherlands, Belgium, Luxemburg, France and Germany.  HEMA distinguishes itself from other retailers by selling its own brand.  In addition, HEMA develops its own assortment and likes to surprise customers with timely offers of products for daily use.

HEMA is a centrally managed company.  It consists of the Headquarters, the Bakery, the Distribution Centre and Sales.  In total, HEMA has approximately 10,000 employees — 80% women and 20% men.

The logistic heart of HEMA is located in Utrecht and has an area the size of 13 football fields.  This is where the international and national shipments arrive and from where the products are sent to the stores in time.  Approximately 250 million articles are processed annually.

As the history of the subject is over twelve years in Hong Kong, on the whole, consider it good for normal business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.73

UK Pound

1

Rs.81.34

Euro

1

Rs.67.01

 

 

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.