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Report Date : |
27.07.2012 |
IDENTIFICATION DETAILS
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Name : |
MEI
YEDERSOME LTD. |
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Formerly Known As : |
Mei Group Hong Kong
Ltd |
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Registered Office : |
Flat E, 9/F., Yeung Yiu Chung (No. 8) Industrial Building,
20 Wang Hoi Road, Kowloon Bay, Kowloon |
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Country : |
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Date of Incorporation : |
04.04.2003 |
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Com. Reg. No.: |
33912296 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Outdoor furniture, household textiles, sundry products, etc. |
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No. of Employees : |
18 |
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 : |
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 – March 31st, 2012
|
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 |
MEI YEDERSOME LTD.
Flat E, 9/F., Yeung Yiu Chung (No. 8) Industrial Building, 20 Wang Hoi Road, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 2735 6788; 3118 1689
FAX: 2753 6795; 3118 1696
E-MAIL: hko@meiyedersome.com
Managing Director: Mr. Johan Mikael Otterberg
Incorporated on: 4th April, 2003.
Organization: Private Limited Company.
Capital: Nominal: HK$7,750,000.00
Issued: HK$7,750,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$300-330 million.
Employees: 18.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Flat E, 9/F., Yeung Yiu Chung (No. 8) Industrial Building, 20 Wang Hoi Road, Kowloon Bay, Kowloon, Hong Kong.
China
Representative Office:
Shanghai.
Holding Company:-
East Import I Hoor AB, Sweden.
Ultimate Holding
Company:-
Bergendahl & Sons AB, Sweden.
Associated/Affiliated
Companies:-
Bergendahl & Sons AB Group of Companies
33912296
0844856
Managing Director: Mr. Johan Mikael Otterberg
Nominal Share Capital: HK$7,750,000.00 (Divided into 7,750,000 shares of HK$1.00 each)
Issued Share Capital: HK$7,750,000.00
(As per registry
dated 04-04-2012)
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Name |
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No. of shares |
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East Import I Hoor AB Bruksgatan 243 35 Hoor, Sweden. |
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7,750,000 ======= |
(As per registry
dated 04-04-2012)
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Name (Nationality) |
Address |
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Kirsten Helbo CALLINGGARD |
Sköneviksvägen 13, 37291 Ronneby, Sweden. |
(As per registry
dated 04-04-2012)
|
Name |
Address |
Co.
No. |
|
Artwell Consultancy Ltd. |
Room 801, 8/F., Chinahem Johnston Plaza, 178‑186 Johnston Road, Wanchai, Hong Kong. |
0374615 |
The subject was incorporated on 4th April, 2003 as a private limited liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Mei Group Hong Kong Ltd., name changed to the present style on 29th August, 2003.
Formerly the subject was located at Flat 10, 7/F., Kinetic Industrial Centre, 7 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong, moved to the present address in November 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Outdoor furniture, household textiles, sundry products, etc.
Employees: 18.
Commodities Imported: China, India, other Asian countries, etc.
Markets: Sweden, other European countries, Asian countries, etc.
Annual Turnover: HK$300-330 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, etc.
Swedish Chamber of Commerce in Hong Kong, Hong Kong.
Nominal Share Capital: HK$7,750,000.00 (Divided into 7,750,000 shares of HK$1.00 each)
Issued Share Capital: HK$7,750,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Good.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Very Good.
Mei Yedersome Ltd. is a wholly-owned subsidiary of East Import I Hoor AB [East Import] which is a Sweden-based firm. In turn, East Import is a subsidiary of Bergendahl & Sons AB, Sweden.
The subject is a member of Swedish Chamber of Commerce in Hong Kong. It is the sourcing and purchasing arm of East Import, a Swedish trading company, part of the Bergendahl & Sons AB Group. Since the mid of the 1970’s, the subject has been trading in the following commodities:-
Office Stationery, Woven Goods, Carpets and Tapestries, Electronic and Information Products, Textile Raw Materials and Fabrics, Tools, Machinery and Equipment, Furniture, Home Electric Appliances, Home Textiles, Gifts, Utensils, Kitchenware and Tableware, Ceramics, Sports and Tourism Leisure Products, Iron Ore Products, Toys, Hardware, Small Vehicles and Spare Parts, Health Products and Medical Devices, Carved Jade Jewellery and Bone, etc.
It also has been an active link between the Asian suppliers and the Scandinavian market, within the Group as well as through direct customers.
Based in Hong Kong with 18 people, the subject is operating through a custom-made online purchasing system, carrying out around 3,000 orders and inspections all over Asia, achieving a yearly turnover of HK$300 to 330 million.
In recent years, the subject has set up a representative office in Shanghai, China. This office is responsible for the Group’s purchasing activities in the Mainland China.
Bergendahl & Sons AB Group is owned by the Bergendahl family. Today Bergendahls is a very long-term investor in entrepreneurial-oriented businesses and business areas in the retail sector. The principal idea is to combine entrepreneurship with a business model based on clear rules of play in the form of values, management philosophy and corporate governance. The Group’s operations are in three business areas: Food, Fashion and Home Deco.
The subject is fully supported by the Group ultimately. History in Hong Kong is over nine years.
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 |
|
US Dollar |
1 |
Rs.55.95 |
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UK Pound |
1 |
Rs.86.56 |
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Euro |
1 |
Rs.67.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.