|
Report Date : |
10.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
COCA-COLA FAR EAST LTD. |
|
|
|
|
Registered Office : |
18/F., Lincoln House, Taikoo Place, 979 King’s Road, Quarry Bay |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
19.10.1979 |
|
|
|
|
Com. Reg. No.: |
06323218 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Producing and Marketing of all kinds of Coca-Cola soft drinks. |
|
|
|
|
No. of Employees : |
150. (Including affiliates) |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
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 30, 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 |
COCA-COLA FAR
EAST LTD.
ADDRESS: 18/F., Lincoln House, Taikoo
Place, 979 King’s Road, Quarry Bay, Hong Kong.
PHONE: 2599 1333
FAX: 2506 1425
E-MAIL: apang@apac.ko.com
President (Pacific Group): Mr. Glenn
German Jordan Schoenbohm
Incorporated on: 19th
October, 1979.
Organization: Private
Limited Company.
Capital: Nominal: US$250,000.00
Issued: US$5,000.00
Business Category: Non-alcoholic beverages producing and marketing.
Group Net Operating Revenues: US$46,542 million (Year ended 31-12-2011)
Employees:
150. (Including affiliates)
Main Dealing Banker: Deutsche Bank AG, Hong Kong Branch.
Banking Relation: Good.
Registered Head Office:-
18/F., Lincoln House, Taikoo Place, 979 King’s Road, Quarry Bay,
Hong Kong.
G.P.O. Box 916, Hong Kong.
China Factories:-
Anhui (Hefei), Beijing, Chongqing, Fujian (Xiamen), Gansu (Lanzhou),
Guangdong (Dongguan, Guangzhou, Huizhou, Zhanjiang and Zhuhai), Guangxi Zizhiqu
(Nanning), Heilongjiang (Harbin), Henan (Zhengzhou), Hubei (Wuhan), Hunan
(Changsha), Jiangsu (Nanjing), Jilin (Changchun), Liaoning (Dalian and
Shenyang), Shaanxi (Xi’an), Shandong (Qingdao), Shanghai, Shanxi (Taiyuan),
Sichuan (Chengdu), Tianjin, Yunnan (Kunming), Zhejiang (Hangzhou), etc.
Holding Company:-
The Coca-Cola Export Corporation, USA.
Ultimate Holding Company:-
The Coca-Cola Company, USA.
Sister & Affiliated Companies:-
Coca-Cola Group of Companies
ACCBC Holding Company, Georgia.
Atlantic Industries, Cayman Islands.
Atlantic Manufacturing, Cayman Islands.
Barlan Inc., USA.
BCI Coca-Cola Bottling Co. of Los Angeles, USA.
Beverage Partners Worldwide (Pacific) Ltd., Hong Kong.
Caribbean Refrescos Inc., USA.
CCHBC Grouping Inc., USA.
Coca-Cola (Japan) Co. Ltd., Japan.
Coca-Cola Beverages (Shanghai) Ltd., China.
Coca-Cola Bottlers Manufacturing Holdings Ltd., Hong Kong.
Coca-Cola Bottlers Philippines Inc., Philippines.
Coca-Cola China Industries Ltd., China.
Coca-Cola China Ltd., Hong Kong.
Coca-Cola de Chile S.A., Chile.
Coca-Cola Erfrischungsgetranke AG, Germany.
Coca-Cola GmbH, Germany.
Coca-Cola Holdings (Asia) Ltd., Hong Kong.
Coca-Cola Holdings (Overseas) Ltd., USA.
Coca-Cola India Private Ltd., India.
Coca-Cola Industrias Ltda., Brazil.
Coca-Cola Industrias Ltda., Costa Rica.
Coca-Cola Midi SAS, France.
Coca-Cola Overseas Parent Ltd., USA.
Coca-Cola Refreshments Canada Co., Canada.
Coca-Cola Refreshments USA Inc., USA.
Coca-Cola Reinsurance Services Ltd., Ireland.
Coca-Cola Servicios de Venezuela C.A., Venezuela.
Coca-Cola South Asia (India) Holdings Ltd., Hong Kong.
COFCO Coca-Cola Beverages Ltd., Hong Kong.
Conco Ltd., Cayman Islands.
Corporacion Inca Kola Peru S.R.L., Peru.
Dulux CBAI 2003 BV, The Netherlands.
Energy Brands Inc., USA.
European Refreshments, Ireland.
Great Plains Coca-Cola Bottling Co., USA.
Hindustan Coca-Cola Beverages Pvt. Ltd., India.
Hindustan Coca-Cola Holdings Pvt. Ltd., India.
Hindustan Coca-Cola Overseas Holdings Pte. Ltd., Singapore.
Luxembourg CB 2002 S.a.r.l., Luxembourg.
Norsa Refrigerantes S.A., Brazil.
Odwalla Inc., USA.
Open Joint Stock Co. Nidan Juices, Russian Federation.
Pacific Refreshments Pte. Ltd., Singapore.
Recofarma Industria do Amazonas Ltda., Brazil.
Refrescos Guararapes Ltda., Brazil.
SA Coca-Cola Services NV, Belgium.
Servicios Integrados de Administracion y Alta Gerencia S.A. de C.V.,
Mexico.
Servicios y Productos Para Bebidas Refrescantes S.R.L., Argentina.
Soira Investments Ltd., British Virgin Islands.
Swire Beverages Holdings Ltd., Hong Kong.
Swire Beverages Ltd., Hong Kong.
Swire Coca-Cola HK Ltd., Hong Kong.
Swire Coca-Cola Taiwan Ltd., Taiwan.
The Inmex Corporation, USA.
etc.
06323218
0074234
President (Pacific Group): Mr.
Glenn German Jordan Schoenbohm
Nominal Share Capital: US$250,000.00 (Divided into 250,000 shares of
US$1.00 each)
Issued Share Capital: US$5,000.00
(As per registry dated 19-10-2011)
|
Name |
Occupation |
No. of shares |
|
The Coca-Cola Export Corporation One Coca-Cola Plaza, NW Atlanta, Georgia 30313, USA. |
Corporation |
5,000 ==== |
(As per registry dated 24-02-2012)
|
Name (Nationality) |
Address |
|
Glenn German JORDAN SCHOENBOHM |
675 West Paces Ferry #10, Atlanta, GA 30327-2641, USA. |
|
Anthony Alexis QUAN-HIN |
1609 Johnson Road NE, Atlanta, GA 30306, USA. |
|
LEE Yueh Fang |
No. 161, The Emerald, Lane 2888, Hu Nan Road, Pudong New District,
Shanghai 201315, China. |
(As per registry dated 19-10-2011)
|
Name |
Address |
|
PANG Suet Kwan |
18/F., Lincoln House, Taikoo Place, 979 King’s Road, Quarry Bay,
Hong Kong. |
The subject was incorporated on 19th October, 1979 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at 38/F., Shell Tower, Times Square,
1 Matheson Street, Causeway Bay, Hong Kong, moved to the present
address in December 2006.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Producing
and Marketing.
Lines: All
kinds of Coca-Cola soft drinks.
Brands Carried:-
|
Brand Owned |
Product |
|
Bing Lu |
Soft Drink |
|
Coca-Cola |
Soft Drink |
|
Coke Light |
Soft Drink |
|
Fanta |
Soft Drink |
|
Lemon Coke Light |
Soft Drink |
|
Minute Maid |
Fruit Cordial and Juice |
|
Modern Tea Workshop |
Tea – Bottled |
|
NesCafe |
Coffee |
|
Nestea |
Tea – Bottled |
|
Powerade |
Soft Drink |
|
Qoo |
Soft Drink |
|
Sensation |
Water |
|
Smart |
Soft Drink |
|
Sprite |
Soft Drink |
|
Sprite Icy Mint |
Soft Drink |
|
Sprite on Fire |
Soft Drink |
|
Tian Yu Di water |
Water |
|
Vanilla Coke |
Soft Drink |
|
Yang Guang (Hi-C) |
Fruit Cordial and Juice |
Employees: 150. (Including affiliates)
Commodities Imported: Mainly imported from US.
Markets: Hong
Kong, China, Macau and China.
Group Net Operating Revenues:-
US$28,857
million (Year ended 31-12-2007)
US$31,944
million (Year ended 31-12-2008)
US$30,990
million (Year ended 31-12-2009)
US$35,119
million (Year ended 31-12-2010)
US$46,542
million (Year ended 31-12-2011)
Terms/Sales:
As per contracted.
Terms/Buying: As
per contracted.
Nominal Share Capital: US$250,000.00 (Divided into 250,000 shares of
US$1.00 each)
Issued Share Capital: US$5,000.00
Group Net Income: US$ 5,981
million (Year ended 31-12-2007)
US$ 5,807 million
(Year ended 31-12-2008)
US$ 6,824 million
(Year ended 31-12-2009)
US$11,809
million (Year ended 31-12-2010)
US$ 8,572 million
(Year ended 31-12-2011)
Profit or Loss: Business is profitable.
Condition:
Keeping in an
active and good manner.
Facilities: Making active use of general banking
facilities.
Payment:
Reliable and
prompt.
Commercial Morality: Very
good.
Banker:
Deutsche
Bank AG, Hong Kong Branch.
Standing:
Very good.
Coca-Cola Far East Ltd. is a wholly-owned subsidiary of The Coca-Cola
Export Corporation, a US-based firm which is owned by The Coca-Cola Company
[Coca-Cola], also a US-registered company.
The subject is the division office for business operation in Asia and
the Asia Pacific Region besides China, Hong Kong, Taiwan and Macau. The business of China, Hong Kong, Taiwan and
Macau is handled by Coca-Cola China Ltd. which is also located at the heading
address.
The subject works closely with Swire Coca-Cola HK Ltd., which is a local
licensed bottler and is responsible for the production, sales, marketing of
Coca-Cola products in Hong Kong.
The Coca-Cola system’s product range in China includes “Bing Lu”,
“Coca‑Cola”, “Coke Light”, “Fanta”, “Lemon Coke
Light”, “Minute Maid”, “Modern Tea Workshop”, “NesCafe”,
“Nestea”, “Powerade”, “Qoo”, “Sensation”, “Smart”,
“Sprite”, “Sprite Icy Mint”, “Sprite on Fire”, “Tian Yu Di
water”, “Vanilla Coke” and “Yang Guang (Hi-C)”.
Swire Coca-Cola Taiwan Ltd. is the first of Coca-Cola’s plants in the
Greater China Region to obtain ISO 14000 certification.
The ultimate holding company, Coca-Cola, was incorporated in September
1919 under the laws of the State of Delaware, the United States, and succeeded
to the business of a Georgia corporation with the same name that had been
organized in 1892.
Coca-Cola is the largest manufacturer, distributor and marketer of non‑alcoholic
beverage concentrates and syrups in the world.
Finished beverage products bearing our trademarks, sold in the United
States since 1886, are now sold in more than 200 countries. Along with “Coca-Cola”, which is
recognized as the world’s most valuable brand, Coca-Cola markets four of the
world’s top five non-alcoholic sparkling brands, including “Diet Coke”,
“Fanta” and “Sprite”.
Coca-Cola manufactures beverage concentrates and syrups, which it sells
to bottling and canning operations, fountain wholesalers and some fountain
retailers, as well as finished beverages, which it sells primarily to
distributors. Coca-Cola owns or licenses
nearly 500 brands, including diet and light beverages, waters, enhanced waters,
juices and juice drinks, teas, coffees, and energy and sports drinks. In addition, Coca-Cola has ownership
interests in numerous beverage joint ventures, bottling and canning operations,
although most of these operations are independently owned and managed.
On 2nd October, 2010, Coca-Cola acquired the North American business of
Coca-Cola Enterprises Inc. [CCE], one of its major bottlers, consisting of
CCE’s production, sales and distribution operations in the United States,
Canada, the British Virgin Islands, the United States Virgin Islands and the
Cayman Islands, and a substantial majority of CCE’s corporate segment. CCE shareowners other than Coca-Cola
exchanged their CCE common stock for common stock in a new entity named
Coca-Cola Enterprises Inc. [New CCE], which after the closing of the
transaction continued to hold the European operations that had been held by CCE
prior to the acquisition.
For the year ended 31st December, 2011, the net operating revenues of the
Coca-Cola Group amounted to US$46,542 million (2010: US$35,119 million), while
its net income for the year was US$8,572 million (2010: US$11,809 million).
Coca-Cola now also produces and distributes “sparkling beverages” which
means nonalcoholic ready-to-drink beverages with carbonation, including
carbonated energy drinks and carbonated waters and flavored waters.
The Coca-Cola system sold approximately 26.7 billion, 25.5 billion and
24.4 billion unit cases of its products in 2011, 2010 and 2009, respectively.
Sparkling beverages represented approximately 75%, 76% and 77% of its
worldwide unit case volume for 2011, 2010 and 2009 respectively. Trademark “Coca-Cola” Beverages
accounted for approximately 49%, 50% and 51% of its worldwide unit case volume
for 2011, 2010 and 2009 respectively.
The subject is fully supported by Coca-Cola.
On the whole, in view of the parentage of the subject, consider it good
for normal business engagements.
Brief information of
the principal director:-
Mr. Glenn German JORDAN SCHOENBOHM, 55, is President of the Pacific
Group. Mr. Jordan joined Coca-Cola in
1978 as a field representative for Coca-Cola de Colombia where, for several
years, he held various positions, including Region Manager from 1985 to 1989. Mr. Jordan served as Marketing
Operations Manager, Pacific Group from 1989 to 1990 and as Vice President of
Coca-Cola International and Executive Assistant to the Pacific Group President
from 1990 to 1991. Mr. Jordan
served as Senior Vice President, Marketing and Operations, for the Brazil
Division from 1991 to 1995; as President of the River Plate Division, which
comprised Argentina, Uruguay and Paraguay, from 1995 to 2000; and as President
of the South Latin America Division, comprising Argentina, Bolivia, Chile,
Ecuador, Paraguay, Peru and Uruguay, from 2000 to 2003. In February 2003, Mr. Jordan was appointed
Executive Vice President and Director of Operations for the Latin America Group
and served in that capacity until February 2006. Mr. Jordan was appointed President of
the East, South Asia and Pacific Rim Group in February 2006. The East, South Asia and Pacific Rim Group
was reconfigured and renamed the Pacific Group, effective 1st January,
2007.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.02 |
|
|
1 |
Rs.79.01 |
|
Euro |
1 |
Rs.66.18 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.