|
Report Date : |
30.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
OTTO
INTERNATIONAL ( |
|
|
|
|
Registered Office : |
6/F., Alexandra House, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
25.01.1980 |
|
|
|
|
Com. Reg. No.: |
06600202 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer and Re-exporter, Mail Order Firm Textile products,
electronic products and other consumer products |
|
|
|
|
No. of Employees : |
50 |
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 : |
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 |
OTTO
INTERNATIONAL (HONG KONG)
LTD.
19/F. & 22/F.,
Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2303 7000, 2362 9773
FAX: 2330 8885, 2330 8773
E-MAIL: info@ottoint.com
Managing Director:
Mr. Michael Dumke
Incorporated on: 25th January, 1980.
Organization: Private Limited Company.
Capital: Nominal: HK$20,000,000.00
Issued: HK$20,000,000.00
Business Category: Importer and Re-exporter, Mail Order Firm.
Group Revenue: €11,403,913,000 (Year ended 28-02-2011)
Employees: 50.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
OTTO
INTERNATIONAL (HONG KONG)
LTD.
Registered
Office:-
6/F., Alexandra
House, 18 Chatham Road, Central, Hong Kong.
Head
Office:-
19/F. & 22/F.,
Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.
Holding
Company:-
OTTO International
GmbH, Germany.
Ultimate
Holding Company:-
OTTO (GmbH &
Co. KG), Germany.
Subsidiary/Associated
Companies:-
OTTO Group of Companies
“CROIX” Industrie-Administration GmbH, Germany.
3 Pagen Handelsgesellschaft mbH, Germany.
3 Pagen Immobilien GmbH, Germany.
3 Pagen Versand und Handelsgesellschaft mit beschränkter Haftung, Germany.
3 Pagen Vertriebsgesellschaft AG, Switzerland.
3 Suisses de re S.A., Luxembourg.
3 Suisses France SCS, France.
3 Suisses International S.A., France.
3 Suisses International Trade (Shanghai) Co. Ltd., China.
3 Suisses Voyages SNC, France.
3S Assurances SCS, France.
3SH SNC, France.
3SW SAS, France.
A. E. Allitt Ltd., UK.
AffordaCare Inc., USA.
Agency One Ltd., UK.
Alba Moda GmbH, Germany.
Amberville Consulting Ltd., Cyprus.
ambria GmbH, Germany.
Argus Inkasso GmbH, Germany.
Arianta SAS, France.
Arivo S.A., Switzerland.
ARTHUR Holding GmbH, Germany.
ASCQ Industrie-Administration G.m.b.H., Germany.
Aspirations (UK) Ltd., UK.
B.I.G. Baur-Immobilien-GmbH & Co. KG, Germany.
Balata Grundstücksverwaltungsgesellschaft mbh & co Vermietungs KG, Germany.
baumarkt direkt GmbH & Co. KG, Germany.
Baur Versand (GmbH & Co. KG), Germany.
Baur-Immobilien-Verwaltungs-GmbH, Germany.
Beaute Createurs Participations S.A., France.
Becquet SAS, France.
BFS Baur Fulfillment Solutions GmbH, Germany.
BIC Retail Enterprises Ltd., Cyprus.
bon prix Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
bon prix Handelsgesellschaft mbH, Germany.
bon prix retail AG, Switzerland.
bon prix retail GmbH, Germany.
Bon Prix S.r.l., Italy.
bon prix Sp. z.o.o., Poland.
BV Capital Fund III LP, USA.
BVB Beteiligungs-und Verwaltungs-GmbH, Germany.
BWR Reisebüro GmbH & Co. KG, Germany.
BWR Reisebüro Verwaltungsgesellschaft mbH, Germany.
California Service Bureau Inc., USA.
Camif Polska SARL, Poland.
Cemod-CZ s.r.o., Czech Republic.
Cemod-SK s.r.o., Slovakia.
Centurium Verwaltungs-GmbH, Germany.
Cidal SNC, France.
CITE Numerique SNC, France.
Civad SAS, France.
Cogedac SNC, France.
Cogemag SCS, France.
Collecto Inc., USA.
Commerce BtoB SAS, France.
Compania Internacional para la Financión de la Distribución S.A., Spain.
Contactnet Ltd., UK.
Contentia France SAS, France.
Contentia S.A., Belgian.
CoXulto Marketing Solutions GmbH, Germany.
Crate and Barrel Canada Inc., Canada.
Crate and Barrel Holdings Inc., USA.
Crate and Barrel International Sourcing Ltd., Hong Kong.
creation L Handelsgesellschaft mbH, Germany.
Customerservicesnet Ltd., UK.
Direct Home Shopping Brands Ltd., UK.
direxi SAS, France.
Downland Debt Recovery Ltd., UK.
Eddie Bauer (UK) Ltd., UK.
Eddie Bauer International Ltd., Hong Kong.
Eddie Bauer Japan Inc., Japan.
Eddie Bauer Ltd., UK.
EDI Sourcing LLC, USA.
Electinfo Ltd., UK.
EOS Aremas Belgium NV/SA, Belgium.
EOS Cyprus Ltd., Cyprus.
EOS Debita AG, Switzerland.
EOS Deutscher Inkasso-Dienst GbmH, Germany.
EOS Deutschland GmbH, Germany.
EOS Faktor Magyarorszag Zrt., Hungary.
EOS Field Services GmbH, Germany.
EOS Finance GmbH, Germany.
EOS Finance IFN SA, Romania.
EOS Finanzholding GmbH, Germany.
EOS Health Honorarmanagement Aktiengesellschaft, Germany.
EOS Holding GmbH, Germany.
EOS Holdings (USA) Inc., USA.
EOS Hong Kong Ltd., Hong Kong.
[Formerly known as EOS Solutions Asia Ltd.]
EOS Immobilienworkout GmbH, Germany.
EOS Information Services GmbH, Germany.
EOS International Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
EOS Investment CEE GmbH, Germany.
EOS Investment GmbH, Germany.
EOS Investment Poland GmbH, Germany.
EOS IT Services GmbH, Germany.
EOS IT Services SRL, Romania.
EOS KSI Ceska Republika s.r.o., Czech Republic.
EOS KSI Inkasso Deutschland GmbH, Germany.
EOS KSI Magyarorszag Inkasszó Kft., Hungary.
EOS KSI Polska Spolka z.o.o., Poland.
EOS KSI Romania S.R.L., Romania.
EOS KSI Slovensko s.r.o., Slovakia.
EOS KSI upravljanje terjatev d.o.o., Slovenia.
EOS Matrix DOO, Yugoslavia.
EOS Matrix OOD, Bulgaria.
EOS Matrix S.A., Greece.
EOS mercator inkasso GmbH, Germany.
EOS Nederland B.V., Netherlands.
EOS ÖID Inkasso-Dienst Gesellschaft m.b.H., Germany.
EOS Payment Solutions GmbH, Germany.
EOS Russia Holdings Ltd., Cyprus.
EOS Schweiz AG, Switzerland.
EOS Securitisation GmbH, Germany.
EOS Serviceline GmbH, Germany.
EOS SID Süddeutscher Inkasso-Dienst GmbH, Germany.
EOS Solutions UK plc, UK.
EOS Spain S.L., Spain.
EOS Verbriefungsspezialgesellschaft mbH, Germany.
EOS Verlegerinkasso GmbH, Germany.
Equipar SAS, France.
Erste Luxemburger Forderungsankaufgesellschaft AG, Luxembourg.
Erste OTTO Vorrats-Verwaltungsgesellschaft mbH, Germany.
Euromarket Designs Inc., USA.
eVenture Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
eVenture Fonds 1 GmbH & Co. KG, Germany.
Factory SAS, France.
Fashionworld GmbH, Germany.
FEGRO-Großhandelsmarkt GmbH & Co. KG, Germany.
FEGRO-Markt Eschborn Verwaltungs GmbH, Germany.
Frankfurter Inkasso Gesellschaft mit beschränkter Haftung, Germany.
Frankonia Handels GmbH & Co. KG, Germany.
Frankonia Verwaltungs GmbH, Germany.
Freemans Grattan Holdings Ltd., UK.
Freemans Home Shopping Ltd, Ireland.
Freemans International Ltd., UK.
Freemans Mail Order Ltd., UK.
Freemans of London Ltd., UK.
Freemans plc, UK.
Gesellschaft für Forderungsservice Hamburg-Fürth GmbH, Germany.
Glances Ltd., UK.
Grattan (Leicester) Ltd., UK.
Grattan Home Shopping Ltd., UK.
Grattan International Ltd., UK.
Grattan Logistics Ltd., UK.
Grattan plc, UK.
GroupTechnologyPartner-Dresden GmbH, Germany.
Gutes aus Klöstern Vertriebs-GmbH, Germany.
H.I.S. Textil GmbH, Germany.
Hanseatic Versicherungs-Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
Hanseatic Versicherungsdienst GmbH Versicherungsvermittlung, Germany.
Hansecontrol Asia Ltd., Hong Kong.
Hansecontrol Dongguan Technology Consulting Services Ltd., China.
HCTS Hansecontrol Certification and Testing Services Ltd., Hong Kong.
Heinrich Heine Beteiligungs GmbH, Germany.
Heinrich Heine GmbH, Germany.
Heinrich Heine Grundstücks-Beteiligungs GmbH & Co. KG, Germany.
Heinrich Heine Handelsgesellschaft AG, Switzerland.
Hermes Einrichtungs Service GmbH & Co. KG, Germany.
Hermes Europe GmbH, Germany.
Hermes European Logistics Ltd., UK.
Hermes Fulfilment GmbH, Germany.
Hermes General Service Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
Hermes General Service UK Ltd., UK.
Hermes Logistik GmbH, Austria.
Hermes Logistik Gruppe Deutschland GmbH, Germany.
Hermes Porta A Porta S.P.A., Italy.
Hermes Technischer Kundendienst GmbH, Germany.
Hermes Touristik GmbH & Co. KG, Germany.
Hermes Transport Logistics GmbH, Germany.
Hermes-NexTec GmbH, Germany.
Hoit, Winston, & Carter Inc., USA.
Hopes Mail Order Ltd., UK.
Hypermarche Bon Prix SARL, France.
I.V.K. Industrie-Versicherungskontor GmbH & Co. KG Assekuranz-Vermittlung, Germany.
ID3SI S.A., France.
Inkpool GmbH & Co. KG, Germany.
Inkpool Verwaltungsgesellschaft mbH, Germany.
JM Bruneau Espana S.A., Spain.
JM Bruneau GmbH, Germany.
JM. Bruneau Belgium S.A., Belgium.
JM. Bruneau SNC, France.
Josef Witt Beteiligungs-Verwaltungsgesellschaft International mbH, Germany.
Josef Witt GmbH, Germany.
Jungstil Handelsgesellschaft mbH, Germany.
K.M. Vertriebsgesellschaft GmbH, Germany.
Kaleidoscope Ltd., UK.
Kitaro Textilhandel GmbH, Germany.
Kommanditgesellschaft AM Grundstücks-Verwaltungs GmbH & Co., Germany.
Kommanditgesellschaft EOS Holding GmbH & Co, Germany.
Kommanditgesellschaft OTTO Austria Grundstücksverwaltungs GmbH & Co., Germany.
Kommanditgesellschaft Schwab Grundstücks-Verwaltungs GmbH & Co., Germany.
Kommanditgesellschaft SSU Grundstücks-Verwaltungs GmbH & Co., Germany.
Kommanditgesellschaft Travel Overland Flugreisen GmbH & Co., Germany.
Konrad Kleinlein GmbH, Germany.
Küche & Co GmbH, Germany.
Lascana Handelsgesellschaft mbH, Germany.
Learoyd & Calverley Ltd., UK.
Limango Dis Ticaret ve Sanal Magazacilik Hizmetleri Ltd. Sirketi, Turkey.
Limango GmbH, Germany.
Limena Enterprises Ltd., Cyprus.
LLC EOS, Russia.
Look Again Ltd., UK.
M.K.J. Textilhandel GmbH, Germany.
Magazin Handelsgesellschaft für Einrichtungsbedarf mbH, Germany.
Magazin Versandhandelsgesellschaft mbH, Germany.
Manufactum Brot & Butter GmbH, Germany.
Manufactum Gastronomie GmbH, Germany.
Manufactum GmbH & Co. KG, Germany.
Martinter SAS, France.
Meadowbrook LLC, USA.
Media Handelsgesellschaft mbH, Germany.
Melcosa Vietnam Ltd., Hong Kong.
Menos-Grundstücksholding GmbH, Germany.
Mercator Finance Luxembourg AG, Luxembourg.
Mezzo SAS, France.
mirapodo GmbH, Germany.
Mondial Relay SAS, France.
MTI Verwaltungs GmbH, Germany.
MTRU Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
myToys.de GmbH, Germany.
Northside Insurance Co. Ltd., Guernsey.
NR Immobilien Service GmbH, Germany.
octobo GmbH, Germany.
Office Planet GmbH, Germany.
OI (Singapore) Pte. Ltd., Singapore.
OKO Inkasso-Auskünfte GmbH & Co KG, Austria.
Oli Ltd., UK.
OOO Business Service, Russia.
OOO Direct Catalogue Service, Russia.
OOO Dostavka Service, Russia.
OOO OTTO Group Business Development, Russia.
OOO PostService, Russia.
OOO Promopost, Russia.
Orga System SAS, France.
OTTO Austria Grundstücksverwaltungs GmbH, Germany.
OTTO B.V., Netherlands.
OTTO Central Europe Kft., Hungary.
OTTO Designhouse GmbH, Germany.
OTTO Finance Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
OTTO Finance Cyprus Ltd., Cyprus.
OTTO Finance Luxembourg AG, Luxembourg.
OTTO Finanzplus GmbH Versicherungsvermittlung, Germany.
OTTO Freizeit und Touristik GmbH, Germany.
OTTO International (USA) LLC, USA.
OTTO International Holdings (USA) Corporation, USA.
OTTO Japan Inc., Japan.
OTTO Office (BE) S.A., Belgium .
OTTO Office (CZ) s.r.o., Czech Republic.
OTTO Office (SK) s.r.o., Slovakia.
OTTO Office Beteiligungsverwaltungs-GmbH, Germany.
OTTO Office France, France.
OTTO Office GmbH & Co KG, Germany.
OTTO Operativ Beteiligungs- und Verwaltungsgesellschaft mbH, Germany.
OTTO Personal Systeme GmbH, Germany.
OTTO/Agn International Ltd., Hong Kong.
OTTO-Asia Beteiligungs-Verwaltungs GmbH, Germany.
OTTO-Cheer Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
OTTO-Europe Beteiligungs-Verwaltungs GmbH, Germany.
OVC Venture Capital GmbH, Germany.
Pace Financial Services Inc, USA.
Parcelnet Ltd., UK.
Provista Siebenhundertdreiundsiebzigste Verwaltungsgesellschaft mbH, Germany.
Prüfinstitut Hansecontrol GmbH, Germany.
Quelle GmbH, Germany.
Rainbow Home Shopping Ltd., UK.
Rainbow Versandhandelsgesellschaft mbH, Germany.
RatePAY GmbH, Germany.
Receivable Resources Inc., USA.
Reiseland GmbH, Germany.
Reiseland GmbH & Co. KG, Germany.
Reiseland Meißner OHG, Germany.
Reiseland Reisebüro GmbH, Germany.
Reiseland Weise OHG, Germany.
Resolve Debt Management Ltd., UK.
S.C.I. Oise Picardie, France.
S.K.L. Ltd., UK.
Saint Brice S.A., Belgium.
Schwab Grundstücks-Verwaltungs GmbH, Germany.
Schwab Versand GmbH, Germany.
Scoops (Bradford) Ltd., UK.
Scotcade Ltd., UK.
Scotmail Ltd., UK.
Senior & Cie SAS, France.
Sensible Shopping Ltd., UK.
Servicenet Ltd., UK.
shopping 24 Gesellschaft für multimediale Anwendungen mbH, Germany.
Sieh an! Handelsgesellschaft mbH, Germany.
Société Civile Epinoy, France.
Software Partner Obermain GmbH, Germany.
Soparsuis S.C. a capital variable, France.
SportScheck GmbH, Germany.
Streets of London (Fashion) Ltd., UK.
Systain Consulting GmbH, Germany.
Texplant Corporation Ltd., UK.
Textile Du Glategnies S.A., Belgium.
The Book Fashion Ltd., UK.
Together Ltd., UK.
Trokers S.A., France.
True North AR India Pvt. Ltd., India.
True North AR LLC, USA.
TT-Service und Beteiligungs-Verwaltungs GmbH, Germany.
Twenty1 ApS, Denmark.
Unito Beteiligungs GmbH, Austria.
Unito Versand & Dienstleistungen GmbH, Austria.
VAD Holding S.A., France.
Venta Catalogo S.A., Spain.
Venus Fashion Inc., USA.
Verwaltung I.V.K. Industrie-Versicherungskontor GmbH Assekuranz-Vermittlung, Germany.
Verwaltungsgesellschaft baumarkt direkt mbH, Germany.
Verwaltungsgesellschaft Baur Versand mbH, Germany.
Verwaltungsgesellschaft Hermes Einrichtungs Service mbH, Germany.
Verwaltungsgesellschaft Hermes Touristik mbH, Germany.
Verwaltungsgesellschaft Manufactum mbH, Germany.
Verwaltungsgesellschaft OTTO Office GmbH, Germany.
Verwaltungsgesellschaft Reiseland mbH, Germany.
Verwaltungsgesellschaft Travel Overland Flugreisen mbH, Germany.
VPC Portugal Vendas Por Correspondencia Lda., Portugal.
WCF Finetrading GmbH, Germany.
Witt (UK) Ltd., UK.
WW Witt-Weiden Grundstücks-Verwaltungs GmbH & Co KG, Germany.
XPL SAS, France.
xplosion interactive GmbH, Germany.
You & Yours Ltd., UK.
YourSchoolUniform.com Ltd, UK.
Zahnärztekasse AG, Switzerland.
ZAO Mail Order Service, Russia.
Zweite Hermes TranStore Service GmbH & Co. KG, Germany.
Zweite Hermes TranStore Service Verwaltungsgesellschaft mbH, Germany.
etc.
06600202
0077803
Managing
Director: Mr. Michael Dumke
Contact
Person: Mr. Gaelmann Diethard
Nominal Share
Capital: HK$20,000,000.00 (Divided into 20,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$20,000,000.00
(As per registry dated 25-01-2012
|
Name |
|
No.
of shares |
|
OTTO International GmbH Wandsbeker
Strasse 3-7, 22172 Hamburg, Germany. |
|
20,000,000 ======== |
(As per registry dated 25-01-2012)
|
Name (Nationality) |
Address |
|
Jurgen Norbert
SCHULTE-LAGGENBECK |
Wandsbeker Strasse 3-7, 22172 Hamburg,
Germany. |
|
Dr. Michael
HELLER |
Fichtenkamp 33, 22393 Hamburg, Germany. |
|
Hanjo Kurt
SCHNEIDER |
Volksdorfer Weg 173a, 22393 Hamburg,
Germany. |
|
Hans-Joachim
MUNDT |
Wellingsbuttler Weg 97, 22391 Hamburg,
Germany. |
|
Michael DUMKE |
Flat J, 5/F., The Manhattan, 33 Tai Tam
Road, Tai Tam, Hong Kong. |
(As per registry dated 25-01-2012)
|
Name |
Address |
Co.
No. |
|
Consec
Services Ltd. |
6/F., Alexandra House, 18 Chatham Road, Central, Hong Kong. |
0024925 |
The
subject was incorporated on 25th January, 1980 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally
the subject was registered under the name of Blaydon Investment Ltd., name
changed to OTTO Versand International Ltd. on 14th September, 1984, and further
to the present style on 11th June, 1991.
Formerly
the subject was located at Room 930, 9/F., Ocean Centre, Harbour City, 5 Canton
Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in November
2003.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer and Re-exporter, Mail Order Firm.
Lines: Textile products, electronic products and other consumer products.
Trade Mark: OTTO.
Office Area: 30,000 sq.ft. in Hong Kong.
Employees: 50.
Commodities Imported: Mainly imported from Europe and Asia Pacific region.
Markets: Worldwide.
Group Revenue: €10,132,044,000 (Year ended 28-02-2010)
€11,403,913,000 (Year ended 28-02-2011)
Terms/Sales: As per contracted.
Terms/Buying: On various terms.
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKO0039]
Nominal Share Capital: HK$20,000,000.00 (Divided into 20,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$20,000,000.00
Group Net Profit: €210,982,000 (Year ended 28-02-2010)
€181,126,000 (Year ended 28-02-2011)
Profit or Loss: Traded at a profitable angle.
Condition: Keeping in a satisfactory state.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
OTTO
International (Hong Kong) Ltd. is a private limited company wholly‑owned
by OTTO International GmbH [OTTO International] which is a Germany-based firm. In turn, the holding company of OTTO
International is OTTO (GmbH & Co. KG) [OTTO Group].
The
subject is the management and service and finance holding arm in the Asia
Pacific for OTTO International buying offices and associated companies. Currently, the subject is handling the
following commodities: audio products (general), audio tapes, video tapes,
cameras, games/premiums, electronic toys, consumer electronics, etc.
The
OTTO Group’s activities are structured into three business segments –
Multichannel Retail, Financial Services, and Services. OTTO Group is now one of the leading
internationally active trading and services groups, comprising about 123
companies and approximately 55,000 employees in 19 countries. The OTTO Group is a global network in which
the separate activities of retail sales, financial services, other services and
wholesale trading are optimally coordinated in the interest of better serving
our customers. Today’s OTTO Group
encompasses a large number of companies operating in the major economic zones
of the world. All these companies are
linked by the common activity of trading and related services, in their
different product lines, target groups and distribution channels. The main ingredient of the self-image of all
the OTTO Group companies is a joint passion for success. This self-image is reflected in the corporate
vision of OTTO Group.
·
Retail Trade
The OTTO Group operates in Europe, North America and Asia. The traditional core business of mail-order
sales has long been complemented by retail store sales and e-commerce
activities. OTTO’s multichannel
distribution strategy is a key contributing factor to the Group’s dominant
market position. After Amazon, OTTO is
the world’s second-largest Internet retailer.
And OTTO continues to develop innovative new ways to shop, such as
m-commerce and TV shopping.
·
Finance
The financial services offered by the financial institutions of the OTTO Group
are aimed primarily at consumers. As an example,
Hanseatic Bank provides tailored financial services, including credit and
deposit products, to this target group.
Moreover , OTTO’s EOS Group is among the leading European providers of
financial services. And the 3-Suisses
subsidiary Cofidis offers tailored financial services in six countries of
Europe.
·
Services
The ability to deliver packages to consumers everywhere under optimal
conditions is a core competence of the OTTO Group. In this business, the Hermes Logistics Group
has grown into one of Germany’s leading package delivery services for consumer
households Another core competence
consists of travel-related services. The
Group’s activities in this area are advantageously consolidated under the
holding company OTTO Freizeit und Touristik [OFT].
OTTO
Group is a significant mail order firm of the world. It sells products ranging from clothing to
appliances to sporting goods. OTTO Group
also owns a majority stake in the Crate & Barrel housewares chain, and it
owns travel agencies in Germany. OTTO
Group controls Actebis Holding, which distributes computers in Europe. OTTO Group does about 90% of its business in
Europe, Japan, and the United States.
The family of chairman Michael Otto owns the majority of OTTO Group and
separately controls US catalogue company Spiegel.
In
FY 2010/11, the sales of the Group amounted to €11,403.9 million, grew by 12.6%
as compared with €10,132.0 million in FY 2009/10. Group profit for the year was €181.1 million,
decreased by 14.2% as compared with €211.0 million in FY 2009/10.
The
subject is fully supported by its holding company and ultimate holding
company. History in Hong Kong is over
thirty-two years.
On
the whole, in view of the parentage of the subject, consider it good for normal
business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.14 |
|
|
1 |
Rs.81.41 |
|
Euro |
1 |
Rs.68.22 |
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.