MIRA INFORM REPORT

 

 

Report Date :

28.11.2012

 

IDENTIFICATION DETAILS

 

Name :

PHILIPS  ELECTRONICS  HONG  KONG  LTD.

 

 

Registered Office :

5/F. and 6/F., Core Building 1, 1 Science Park East Avenue, Hong Kong Science Park, Shatin, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

27.08.1997

 

 

Com. Reg. No.:

21226728

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Manufacturing and marketing of “Philips” consumer electronic products, domestic appliances, semiconductors, components, medical systems, industrial electronics, communication systems and lighting products in Hong Kong and China

 

 

No. of Employees :

121,888.  (As at 31-12-2011)

 

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 :

Regular

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)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Hong Kong - ECONOMIC OVERVIEW

 

Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.

 

Source : CIA

 

 

Company name

 

PHILIPS  ELECTRONICS  HONG  KONG  LTD.

 

 

Company ADDRESS

 

5/F. and 6/F., Core Building 1, 1 Science Park East Avenue, Hong Kong Science Park, Shatin, New Territories, Hong Kong.

PHONE:            2821 5888

FAX:                 2861 3578

E-MAIL:            steve.chan@philips.com

 

 

MANAGEMENT

 

Managing Director:  Ms. TSE Sin Man

 

 

SUMMARY

 

Incorporated on:             27th August, 1997.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$6,000,000,000.00

Issued:              HK$4,621,980,000.00

 

Business Category:        Manufacturing and marketing of “Philips” industrial and consumer electronic products.

 

Group Turnover:             €22,579 million  (Year ended 31-12-2011)

 

Group Employees:         121,888.  (As at 31-12-2011)

 

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

 

Banking Relation:           Very good.

Company ADDRESS

 

Registered Head Office:-

5/F. and 6/F., Core Building 1, 1 Science Park East Avenue, Hong Kong Science Park, Shatin, New Territories, Hong Kong.

 

Showroom:-

27/F. - 29/F., Hopewell Centre, 17 Kennedy Road, Wanchai, Hong Kong.

 

R&D Centre:-

·         5/F., Philips Electronics Building, 5 Science Park East Avenue, Hong Kong Science Park, Shatin, New Territories, Hong Kong.

[Tel: 2489 3000;  Fax: 2418 6033]

·         G.P.O. Box 2108, Hong Kong.

 

Trading as:-

·         Business Group Philips Speaker Systems, Hong Kong.

·         Business Unit Portable Audio, Hong Kong.

·         International Purchasing Office, Hong Kong.

·         LCD Factory, Hong Kong.

·         Philips Consumer Lifestyle, Hong Kong.

·         Philips Design, Hong Kong.

·         Philips Digital Networks, Hong Kong.

·         Philips Electronics Hong Kong Ltd. - Light Factory, Hong Kong.

·         Philips Healthcare Greater China, Hong Kong.

·         Philips Healthcare Multi Country Region Asia Pacific, Hong Kong.

·         Philips Semiconductors Competence Centre Hong Kong, Hong Kong.

·         Philips Sound Solutions APAC, Hong Kong.

·         Power Components Asia Pacific, Hong Kong.

·         Power Management Asia Pacific, Hong Kong.

·         Respironics Hong Kong Trading, Hong Kong.

·         Semiconductors, Hong Kong.

 

Immediate Holding Company:-

·         Philips Electronics China B.V., Netherlands.

 

Ultimate Holding Company:-

·         Koninklijke Philips Electronics N.V., Netherlands.

[Also known as Royal Philips Electronics N.V.]

 

Affiliated Companies:-

Philips Group of Companies

·         210 East Tarrant Street Realty Co., USA.

·         Adac Capital LLC, USA.

·         Adac Iberia S.A., Spain.

·         Adac Laboratories Europe B.V., Netherlands.

·         Advance Transformer Co. S.A. de C.V., Mexico.

·         Advance Transformer Co., USA.

·         Advanced Technology Laboratories Argentina SA, Argentina.

·         Advanced Technology Laboratories Inc., USA.

·         Alkrode B.V., Netherlands.

·         Alltronics LLC, USA.

·         Alpha X-Ray Technologies Pvt. Ltd., India.

·         American Color & Chemical LLC, USA.

·         Apollo Light Systems Inc., USA.

·         Assembléon America Inc., USA.

·         Assembléon B.V., Netherlands.

·         Assembléon China B.V., Netherlands.

·         Assembléon Deutschland GmbH, Germany.

·         Assembleon Hong Kong Ltd., Hong Kong.

·         Assembléon Italia S.r.l., Italy.

·         Assembléon Mexicana S.A. de C.V., Mexico.

·         Assembléon Netherlands B.V., Netherlands.

·         Assembléon Philippines Inc., Philippines.

·         Assembleon Singapore Pte. Ltd, Singapore.

·         Assembleon Taiwan Ltd., Taiwan.

·         Assembleon Technology (Suzhou) Co. Ltd., China.

·         Assembléon UK Ltd., UK.

·         ATL International LLC, USA.

·         ATL Ultrasound Inc., USA.

·         Atlas Diagnostics International Inc., USA.

·         Avelingen Licht Holding B.V., Netherlands.

·         Avent Finance Ltd., UK.

·         Avent Group Ltd., UK.

·         Avent Holdings Ltd., UK.

·         Avent Ltd., UK.

·         Canlyte ULC, Canada.

·         Cannon Avent (Singapore) Pte. Ltd., Singapore.

·         Cannon Babysafe Ltd., UK.

·         Cardiac Evaluation Services Inc., USA.

·         Chicago Magnet Wire Corporation, USA.

·         Children’s Medical Ventures LLC, USA.

·         CIV Comércio e Importação Vitória Ltda., Brazil.

·         Componentes Eléctricos de Lámparas S.A. de C.V., Mexico.

·         Consort Investments B.V., Netherlands.

·         DCF International Ltd., USA.

·         Dixtal Biomédica Indústria e Comércio Ltda., Brazil.

·         Dixtal Medical Inc., USA.

·         Dixtal Tecnologia Indústria e Comércio Ltda., Brazil.

·         DLO Asia Ltd., Hong Kong.

·         Dynalite Europe Ltd., UK.

·         Dynalite Intelligent Light Pty. Ltd., Australia.

·         Dynalite South Africa (Pty.) Ltd., South Africa.

·         E & D GmbH, Germany.

·         EBT Technology Inc., Taiwan.

·         ECS Lighting Controls Ltd., UK.

·         Electrologica B.V., Netherlands.

·         Electronic Devices Ltd., Hong Kong.

·         Elektro Holding S.A., Luxembourg.

·         Elfe S.p.A., Italy.

·         Emergin Inc., USA.

·         Exenkaf Holding B.V., Netherlands.

·         Fábrica Austral de Productos Eléctricos SA, Argentina.

·         Fianara International B.V., Netherlands.

·         Framas Lightings Ltd., Hong Kong.

·         Gaggia GmbH, Germany.

·         Gaggia S.p.A., Italy.

·         Genlyte Canadian Holdings LLC, USA.

·         Genlyte Holding Canada B.V., Netherlands.

·         Genlyte Intangible Inc., USA.

·         Genlyte Thomas Group LLC, USA.

·         Genlyte Thomas Group Nova Scotia ULC, Canada.

·         Global Re N.V., Netherlands.

·         GT Mexican Holding Corporation, Panama.

·         GTG Intangible Holdings LLP, USA.

·         GTG International Acquisitions LP, Canada.

·         Hanover Lantern Inc., USA.

·         Hasrode B.V., Netherlands.

·         Helfont Produtos Elétricos Ltda., Brazil.

·         Hilvarenbeek Training Services B.V., Netherlands.

·         Hoffmeister-Leuchten Gesellschaft mbH, Austria.

·         HTCE General Partner B.V., Netherlands.

·         HTCE Site Management B.V., Netherlands.

·         IGC-Superpower LLC, USA.

·         Ilti Luce S.r.l., Italy.

·         Imaging Components Heerlen B.V., Netherlands.

·         Imel AG, Switzerland.

·         Inbraphil-Indústrias Brasileiras Philips Ltda., Brazil.

·         Industrias Venezolanas Philips S.A., Venezuela.

·         Industriegrundstücks-Verwaltungsgesellschaft mbH, Austria.

·         Industriële Ontwikkelings-Maatschappij B.V., Netherlands.

·         Internationaal Octrooibureau B.V., Netherlands.

·         Invivo Corporation, USA.

·         Invivo UK Ltd., UK.

·         JJI Lighting Group Inc., USA.

·         Kaerys S.A.S., France.

·         Larestine Ireland Ltd., Ireland.

·         Latin-American Holdings Corporation, Canada.

·         Les Distribution Saeco Canada Ltée., Canada.

·         Lifeline Systems Canada ULC, Canada.

·         Lifeline Systems Co., USA.

·         Lifeline Systems Holding B.V., Netherlands.

·         Lifeline Systems Inc., USA.

·         Lighthouse Consulting Group B.V., Netherlands.

·         Lighting de Colombia S.A., Colombia.

·         Lighting.com. Inc., USA.

·         Lightolier de Mexico S.A. de C.V., Mexico.

·         Ljusgruppen Aktiebolag, Sweden.

·         Lumec Holding ULC., Canada.

·         Lumisistemas de México S.A. de C.V., Mexico.

·         Manufacturers Services Poland Sp.z.o.o., Poland.

·         Marconi Medical Systems Netherlands B.V., Netherlands.

·         Massive AG, Switzerland.

·         Massive Asia Pacific Ltd., Hong Kong.

·         MASSIVE d.o.o., Croatia.

·         Massive Holding UK Ltd., UK.

·         MASSIVE Hungária Villamosipari Termelö Kft., Hungary.

·         Massive Ireland Ltd., Ireland.

·         Massive Lighting d.o.o., Serbia.

·         Massive Produktie Nederland B.V., Netherlands.

·         Massive Romania Impex S.R.L., Romania.

·         Matevu Import Export B.V., Netherlands.

·         Medith Oy, Finland.

·         Meditronics Healthcare Pvt. Ltd., India.

·         Melhk Ltd., Hong Kong.

·         Melmedical Co. Ltd., China.

·         Mepco/Centralab Inc., USA.

·         Mini-Mitter Co. Inc., USA.

·         MMD Singapore Pte. Ltd., Singapore.

·         Modular Lighting Nederland B.V., Netherlands.

·         MRI Devices Corporation, USA.

·         Mullard Ltd., UK.

·         NavPart II B.V., Netherlands.

·         Necesse B.V., Netherlands.

·         Neglin Lamp B.V., Netherlands.

·         New Oxford Aluminum LLC, USA.

·         Nihon Saeco K.K., Japan.

·         Noble Europe B.V., Netherlands.

·         Nolam 23 S.A.S., France.

·         Normed AS, Norway.

·         Optical Manufacturing and Holding Co. B.V., Netherlands.

·         P.T. Pesona Gemilang Raya, Indonesia.

·         P.T. Philips Indonesia, Indonesia.

·         P.T. Philips Industries Batam, Indonesia.

·         Paco Adviseurs voor Informatiesystemen B.V., Netherlands.

·         PCW Beheermaatschappij B.V., Netherlands.

·         PD Magnetics B.V., Netherlands.

·         PDO Professional Digital Optical Media B.V., Netherlands.

·         Pegaso S.r.l., Italy.

·         Penac World Sales Inc., Barbados.

·         Philips & LiteOn Digital Solutions Korea Ltd., Republic of Korea.

·         Philips & Lite-on Digital Solutions USA Inc., USA.

·         Philips & Neusoft Medical Systems Co. Ltd., China.

·         Philips & Yaming Lighting Co. Ltd., China.

·         Philips Accounting Services Ltd., Ireland.

·         Philips Advanced Metrology Systems Inc., USA.

·         Philips Aerospace B.V., Netherlands.

·         Philips AG, Switzerland.

·         Philips Aktiebolag, Sweden.

·         Philips Antillana N.V., Netherlands Antilles.

·         Philips Apeldoorn B.V., Netherlands.

·         Philips Appliances Ltd., Canada.

·         Philips Argentina SA, Argentina.

·         Philips Austria GmbH, Austria.

·         Philips Automotive Lighting Hubei Co. Ltd., China.

·         Philips Baltic SIA, Latvia.

·         Philips Bangladesh Ltd., People’s Republic of Bangladesh.

·         Philips Bulgaria EOOD, Bulgaria.

·         Philips Business Electronics International B.V., Netherlands.

·         Philips Canada Ltd., Canada.

·         Philips Caribbean Panamá Inc., Panama.

·         Philips Ceská republika s.r.o., Czech Republic.

·         Philips Chilena S.A., Chile.

·         Philips Colombiana de Comercialización S.A., Colombia.

·         Philips Communication Systems B.V., Netherlands.

·         Philips Components B.V., Netherlands.

·         Philips Components International B.V., Netherlands.

·         Philips Components Ltd., UK.

·         Philips Consumer Communications B.V., Netherlands.

·         Philips Consumer Communications International B.V., Netherlands.

·         Philips Consumer Communications UK Ltd., UK.

·         Philips Consumer Electronic Services B.V., Netherlands.

·         Philips Consumer Electronics Export B.V., Netherlands.

·         Philips Consumer Lifestyle B.V., Netherlands.

·         Philips Consumer Lifestyle International B.V., Netherlands.

·         Philips Consumer Lighting (Ningbo) Co. Ltd., China.

·         Philips Consumer Lighting (Shenzhen) Co. Ltd., China.

·         Philips Consumer Luminaires Denmark A/S, Denmark.

·         Philips Consumer Luminaires Estonia OU, Estonia.

·         Philips Consumer Luminaires Norway AS, Norway.

·         Philips Consumer Luminaires Sweden AB, Sweden.

·         Philips Consumer Luminaires The Netherlands B.V., Netherlands.

·         Philips Consumer Luminaires UK Ltd., UK.

·         Philips Consumer Relations B.V., Netherlands.

·         Philips Crypto B.V., Netherlands.

·         Philips CSI Inc., USA.

·         Philips da Amazônia Indústria Eletrônica Ltda., Brazil.

·         Philips Danmark A/S, Denmark.

·         Philips DAP Suzhou Holding B.V., Netherlands.

·         Philips DAP Zhuhai Holding B.V., Netherlands.

·         Philips del Paraguay S.A., Paraguay.

·         Philips Design Ltd., UK.

·         Philips Deutschland GmbH, Germany.

·         Philips Digital Networks B.V., Netherlands.

·         Philips Digital Video Systems (Breda) B.V., Netherlands.

·         Philips do Brasil Ltda., Brazil.

·         Philips Domestic Appliances & Personal Care Co. of Suzhou Ltd., China.

·         Philips Domestic Appliances & Personal Care Co. of Zhuhai SEZ Ltd., China.

·         Philips Domestic Appliances and Personal Care International B.V, Netherlands.

·         Philips Dominicana S.A., Dominican Republic.

·         Philips Electrical Co. of Pakistan (Private) Ltd., Pakistan.

·         Philips Electrical Industries of Pakistan Ltd., Pakistan.

·         Philips Electronic Equipment Ltd., Canada.

·         Philips Electronic Supplies (Malaysia) Sdn. Bhd., Malaysia.

·         Philips Electronics & Lighting Inc., Philippines.

·         Philips Electronics (Israel) Ltd., Israel.

·         Philips Electronics (Shenzhen) Co. Ltd., China.

·         Philips Electronics (Thailand) Ltd., Thailand.

·         Philips Electronics Asia Pacific Pte. Ltd., Singapore.

·         Philips Electronics Australia Ltd., Australia.

·         Philips Electronics Employment Services B.V., Netherlands.

·         Philips Electronics India Ltd., India.

·         Philips Electronics Industries (Taiwan) Ltd., Taiwan.

·         Philips Electronics Ireland Ltd., Ireland.

·         Philips Electronics Japan Ltd., Japan.

·         Philips Electronics Korea Ltd., Republic of Korea.

·         Philips Electronics Ltd., Canada.

·         Philips Electronics Malaysia Sdn. Bhd., Malaysia.

·         Philips Electronics Middle East & Africa B.V., Netherlands.

·         Philips Electronics Nederland B.V., Netherlands.

·         Philips Electronics North America Corporation, USA.

·         Philips Electronics Realty Corporation, USA.

·         Philips Electronics Representative Offices B.V., Netherlands.

·         Philips Electronics Singapore Pte. Ltd, Singapore.

·         Philips Electronics Technology (Shanghai) Co. Ltd., China.

·         Philips Electronics Technology Shanghai Holding B.V., Netherlands.

·         Philips Electronics Trading & Services (Shanghai) Co. Ltd, China.

·         Philips Electronics UK Ltd., UK.

·         Philips Electronics Vietnam Ltd., Vietnam.

·         Philips Eletrônica da Amazônia Ltda., Brazil.

·         Philips Eletrônica do Nordeste S.A., Brazil.

·         Philips Emergency Lighting LLC, USA.

·         Philips Employee Share Plan Pty. Ltd., Australia.

·         Philips Enabling Technologies Group B.V., Netherlands.

·         Philips Enabling Technologies Group Nederland B.V., Netherlands.

·         Philips Export B.V., Netherlands.

·         Philips Extreme UV GmbH, Germany.

·         Philips GmbH, Germany.

·         Philips Healthcare (Suzhou) Co. Ltd., China.

·         Philips Healthcare Informatics Inc., USA.

·         Philips Healthcare Informatics Ltd., UK.

·         Philips Hearing Technologies B.V., Netherlands.

·         Philips Hengdian Lighting (HK) Holding Ltd., Hong Kong.

·         Philips High Tech Plastics B.V., Netherlands.

·         Philips Holding México S.A. de C.V., Mexico.

·         Philips Holding USA Inc., USA.

·         Philips Holdings Ltd., UK.

·         Philips Hong Kong Ltd., Hong Kong.

·         Philips Ibérica S.A., Spain.

·         Philips Imaging Systems China Holding B.V., Netherlands.

·         Philips Impex Ltd., UK.

·         Philips Industrial Development Inc., Philippines.

·         Philips Industrial Electronics Nederland B.V., Netherlands.

·         Philips Industriepark Rothe Erde GmbH, Germany.

·         Philips Intellectual Property & Standards GmbH, Germany.

·         Philips Interactive Media Benelux B.V., Netherlands.

·         Philips International B.V., Netherlands.

·         Philips International Finance S.A., Luxembourg.

·         Philips Lamps and Luminaires Ltd., UK.

·         Philips Lighting B.V., Netherlands.

·         Philips Lighting Bielsko Sp.z.o.o., Poland.

·          Philips Lighting Electronics (Shanghai) Co. Ltd., China.

·         Philips Lighting Electronics (Xiamen) Co. Ltd., China.

·         Philips Lighting Electronics Co., USA.

·         Philips Lighting Electronics México S.A. de C.V., Mexico.

·         Philips Lighting Electronics Shanghai Holding B.V., Netherlands.

·         Philips Lighting Holding B.V., Netherlands.

·         Philips Lighting Ltd., UK.

·         Philips Lighting Luminaires (Shanghai) Co. Ltd., China.

·         Philips Lighting Malaysia Sdn. Bhd., Malaysia.

·         Philips Lighting Poland S.A., Poland.

·         Philips Lübeckertordamm 5 Dritte Verwaltungs-GmbH, Germany.

·         Philips Lübeckertordamm 5 Fünfte Verwaltungs-GmbH, Germany.

·         Philips Lübeckertordamm 5 Vierte Verwaltungs-GmbH, Germany.

·         Philips LumiLeds Holding B.V., Netherlands.

·         Philips Lumileds Lighting Co. (Holding) B.V., Netherlands.

·         Philips Lumileds Lighting Co. B.V., Netherlands.

·         Philips LumiLeds Lighting Co. LLC, USA.

·         Philips LumiLeds Lighting Co. Sdn. Bhd., Malaysia.

·         Philips Magyarország Kereskedelmi Kft., Hungary.

·         Philips Malaysia Sdn. Bhd., Malaysia.

·         Philips Marketing Services Inc., USA.

·         Philips Media B.V., Netherlands.

·         Philips Media Systems B.V., Netherlands.

·         Philips Medical Customer Support (Pty.) Ltd., South Africa.

·         Philips Medical Financial Services Inc., USA.

·         Philips Medical Refurbished Systems B.V., Netherlands.

·         Philips Medical Systems (Cleveland) Inc., USA.

·         Philips Medical Systems (East Africa) Ltd., Kenya.

·         Philips Medical Systems (PMMS Sales) Corporation, USA.

·         Philips Medical Systems (Proprietary) Ltd., South Africa.

·         Philips Medical Systems DMC GmbH, Germany.

·         Philips Medical Systems Export Inc., USA.

·         Philips Medical Systems Holding B.V., Netherlands.

·         Philips Medical Systems International B.V., Netherlands.

·         Philips Medical Systems LLC, Russian Federation.

·         Philips Medical Systems Ltda., Brazil.

·         Philips Medical Systems MR Inc., USA.

·         Philips Medical Systems Nederland B.V., Netherlands.

·         Philips Medical Systems Puerto Rico Inc., Puerto Rico.

·         Philips Medical Systems s.r.o., Slovakia.

·         Philips Medical Systems Technologies Ltd., Israel.

·         Philips Medical Systems UK Ltd., UK.

·         Philips Medizin Systeme Böblingen GmbH, Germany.

·         Philips Medizin Systeme Hofheim-Wallau GmbH, Germany.

·         Philips Medizinische Systeme Gesellschaft mbH, Austria.

·         Philips Mexicana S.A. de C.V., Mexico.

·         Philips MPEG Inc., USA.

·         Philips Nederland B.V., Netherlands.

·         Philips Nederland Financieringsmaatschappij B.V., Netherlands.

·         Philips New Zealand Ltd., New Zealand.

·         Philips Norge AS, Norway.

·         Philips Oral Healthcare Inc., USA.

·         Philips Outdoor Lighting Romania S.R.L., Romania.

·         Philips Overseas Holdings Corporation, Canada.

·         Philips Oy, Finland.

·         Philips Participations B.V., Netherlands.

·         Philips Patient Monitoring Systems China Holding B.V., Netherlands.

·         Philips Pension Trustees Ltd., UK.

·         Philips Peruana S.A., Peru.

·         Philips PMF International B.V., Netherlands.

·         Philips PMF Nederland B.V., Netherlands.

·         Philips Polska Sp.z.o.o., Poland.

·         Philips Portuguesa S.A., Portugal.

·         Philips Projects B.V., Netherlands.

·         Philips Radio Communication Systems Ireland Ltd., Ireland.

·         Philips Real Estate Investment Management B.V., Netherlands.

·         Philips Romania S.R.L., Romania.

·         Philips S Ventures LP Inc., USA.

·         Philips SC Unterstützungskasse GmbH, Germany.

·         Philips Semiconductor Manufacturing Inc., USA.

·         Philips Semiconductors Inc., USA.

·         Philips Singapore Pte. Ltd., Singapore.

·         Philips Slovakia s.r.o., Slovakia.

·         Philips Slovenija trgovina d.o.o., Slovenia.

·         Philips Solid-State Lighting Solutions Inc., USA.

·         Philips South Africa (Proprietary) Ltd., South Africa.

·         Philips Taiwan Ltd., Taiwan.

·         Philips Technologie GmbH, Germany.

·         Philips Technologie Lübeckertordamm 5 Erste Verwaltungs-GmbH, Germany.

·         Philips Telecommunicatie en Data Systemen Nederland B.V., Netherlands.

·         Philips Telecommunication & Data Systems Ltd., Australia.

·         Philips Trading House B.V., Netherlands.

·         Philips Trans-America Holdings Corporation, Canada.

·         Philips Trustee Co. Ltd., UK.

·         Philips Tunisienne d’Eclairage S.A., Tunisia.

·         Philips U.K. Ltd., UK.

·         Philips Ultrasound Inc., USA.

·         Philips UQE Holding Co. Inc., USA.

·         Philips Uruguay S.A., Uruguay.

·         Philips Venture Capital Fund B.V., Netherlands.

·         Philips Ventures II Inc., USA.

·         Philips Ventures Inc., USA.

·         Philips Warehouse & Services B.V., Netherlands.

·         Picker International del Caribe Inc., USA.

·         PLDS Germany GmbH, Germany.

·         PLDS Netherlands B.V., Netherlands.

·         Productos de Consumo Electrónico Philips S.A. de C.V., Mexico.

·         Profile Pharma Ltd., UK.

·         Project Realty LLC, USA.

·         Pro-Tech Services Inc., USA.

·         Pye (Electronic Products) Ltd., UK.

·         Pyecam Co. Ltd., UK.

·         Raytel Cardiac Services Inc., USA.

·         Raytel Imaging Network Inc., USA.

·         Raytel USA Inc., USA.

·         Reality Leuchten GmbH, Germany.

·         Remediation Services Inc., USA.

·         Respironics (HK) Ltd., Hong Kong.

·         Respironics (Ireland) Ltd., Ireland.

·         Respironics (UK) Ltd., UK.

·         Respironics Australia Holdings Pty. Ltd., Australia.

·         Respironics Australia Pty. Ltd., Australia.

·         Respironics Bermuda Ltd., USA.

·         Respironics California Inc., USA.

·         Respironics Charitable Foundation, USA.

·         Respironics Colorado Inc., USA.

·         Respironics Deutschland GmbH & Co. KG, Germany.

·         Respironics Deutschland Verwaltungsgesellschaft mbH, Germany.

·         Respironics do Brasil Representação de Produtos Médicos Ltda., Brazil.

·         Respironics Holding France B.V., Netherlands.

·         Respironics Holding Japan B.V., Netherlands.

·         Respironics Holding Switzerland B.V., Netherlands.

·         Respironics Holding UK B.V., Netherlands.

·         Respironics Inc., USA.

·         Respironics International Global Enterprises Inc., USA.

·         Respironics International Inc., USA.

·         Respironics Italy S.r.l., Italy.

·         Respironics Ltd., UK.

·         Respironics Medical Products (Shenzhen) Ltd., China.

·         Respironics Netherlands B.V., Netherlands.

·         Respironics New Jersey Inc., USA.

·         Respironics Novametrix LLC, USA.

·         Respironics Respiratory Drug Delivery (UK) Ltd., UK.

·         Respironics Sweden AB, Sweden.

·         Respironics Switzerland GmbH, Switzerland.

·         Respironics Technotrend Ltd., Hong Kong.

·         Respironics UK Holding Co. Ltd., UK.

·         RI Assurance Inc., USA.

·         RI Finance Inc., USA.

·         RI Licensing Inc., USA.

·         RI Trading LLC, USA.

·         RIC Investments LLC, USA.

·         Saeco AG, Switzerland.

·         Saeco Argentina SA, Argentina.

·         Saeco Australia & NZ Ltd., New Zealand.

·         Saeco Australia Pty. Ltd., Australia.

·         Saeco Austria AG, Austria.

·         Saeco B.C. Ltd., Canada.

·         Saeco Card GmbH, Germany.

·         Saeco Centroamerica SA, Costa Rica.

·         Saeco Do Brasil Comercio De Equipamentos Ltda., Brazil.

·         Saeco GmbH, Germany.

·         Saeco Hong Kong Ltd., Hong Kong.

·         Saeco Iberica S.A., Spain.

·         Saeco International Group (Australia) Pty. Ltd., Australia.

·         Saeco International Group S.p.A., Italy.

·         Saeco IPR Ltd., Ireland.

·         Saeco Ontario Ltée., Canada.

·         Saeco Polska Sp.z.o.o., Poland.

·         Saeco South Australia Pty. Ltd., Australia.

·         Saeco Strategic Services Ltd., Ireland.

·         Saeco UK Ltd., UK.

·         Saeco USA Ltd., USA.

·         Saeco Vending S.p.A., Italy.

·         Saeco West Ltd., Canada.

·         Samou GmbH, Germany.

·         Scientific Medical Systems International Inc., USA.

·         Shakespeare Composite Structures LLC, USA.

·         Shapeways B.V., Netherlands.

·         Shenzhen Goldway Industrial Inc., China.

·         Side-Lite LLC, USA.

·         Siera Electronics B.V., Netherlands.

·         Sigma Manufacturing Ltd., Hong Kong.

·         Silicon B203 Ltd., Ireland.

·         Silicon Manufacturing Itzehoe SMI GmbH, Germany.

·         Smit Röntgen B.V., Netherlands.

·         Sogeco Romania S.r.l., Romania.

·         Sonoma Lighting Ltd., UK.

·         Spiropharma A/S, Denmark.

·         Splendor Gloeilampenfabrieken B.V., Netherlands.

·         Sportlite Inc., USA.

·         Strand Lighting Asia Ltd., Hong Kong.

·         Strand Lighting Europe Ltd., UK.

·         Strand Lighting Inc., USA.

·         Super Club International B.V., Netherlands.

·         Super Club Nederland B.V., Netherlands.

·         Superclub Retail Nederland B.V., Netherlands.

·         SuperLight Trading Ltd., Hong Kong.

·         SuperPower Inc., USA.

·         Tecna S.r.l., Italy.

·         Teletrol Systems Inc., USA.

·         The Addison Co. Inc., USA.

·         The Bodine Group Holding Co., USA.

·         The Genlyte Group Inc., USA.

·         The Irish Development Co. Ltd., Ireland.

·         Thomas Lighting de Mexico S.A. de C.V., Mexico.

·         Tijm Holding B.V., Netherlands.

·         Tineney Ireland Ltd., Ireland.

·         TIR Technology LP, USA.

·         Translite Ltd., UK.

·         Translite Sonoma LLC, USA.

·         Trio Leuchten GmbH, Germany.

·         Türk Philips Ticaret Anonim Sirketi, Turkey.

·         U.S. Philips Corporation, USA.

·         USS Manufacturing Inc., Canada.

·         Van der Heem B.V., Netherlands.

·         VISICU Inc., USA.

·         VMI Indústria e Comércio Ltda., Brazil.

·         W.J. Addison Ltd., Canada.

·         Wegot Investment Ltd., Hong Kong.

·         Western Biomedical Technologies Ltd., Ireland.

·         Witt Biomedical Corporation, USA.

·         WMGD Pty. Ltd., Australia.

·         Yort Inc., USA.

·         Zymed Puerto Rico Inc., USA., etc.

 

 

BUSINESS REGISTRATION NUMBER

 

21226728

 

 

COMPANY FILE NUMBER

 

0621912

MANAGEMENT

 

Chief Executive Officer:  Mr. Wiebo Jan Vaartjes

Managing Director:                     Ms. Tse Sin Man

 

 

CAPITAL

 

Nominal Share Capital:   HK$6,000,000,000.00 (Divided into 600,000,000 shares of HK$10.00 each)

 

Issued Share Capital:     HK$4,621,980,000.00

 

 

SHAREHOLDERS

(As per registry dated 27-08-2011)

 

Name

 

No. of shares

Philips Electronics China B.V.

High Tech Campus 60, Eindhoven, Netherlands.

 

267,698,000

Koninklijke Philips Electronics N.V.

High Tech Campus 60, Eindhoven, Netherlands.

 

194,500,000

 

 

––––––––––

 

Total:

462,198,000

=========

 

 

DIRECTORS

(As per registry dated 30-01-2012)

 

Name

(Nationality)

 

Address

Wiebo Jan VAARTJES

House 130, The Portofino, 132 Pak To Avenue, Clearwater Bay, New Territories, Hong Kong.

 

LAI Keet Yee

Room 1102, No. 18, Lane 688, Huang Jin Cheng Dao, Changning District, Shanghai, China.

 

TSE Sin Man

35A, Tower 2, The Harbourside, 1 Austin Road West, Tsimshatsui, Kowloon, Hong Kong.

 

 

SECRETARY 

(As per registry dated 27-08-2011)

 

Name

Address

LEONG Sut Leng, Irene

5/F., Core Building No. 1, Phase One, Hong Kong Science Park, Pak Shek Kok, New Territories, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 27th August, 1997 as a private limited liability company under the Hong Kong Companies Ordinance.

It was originally registered under the name of Philips Consumer Communications Hong Kong Ltd., name changed to Philips Electronics Hong Kong Ltd. on 3rd December, 1999.

The subject changed its name to Philips Electronics Hong Kong Ltd. with aim to take over all the business activities that run by Philips Hong Kong Ltd., a company incorporated in Hong Kong on 29th December, 1948.

Formerly the subject’s registered address was located at Level 5-7, Three Pacific Place, 1 Queen’s Road East, Wanchai, Hong Kong, moved to the present address in October 2010.

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

 

 

OPERATIONS

 

Activities:          Manufacturing and marketing of “Philips” consumer electronic products, domestic appliances, semiconductors, components, medical systems, industrial electronics, communication systems and lighting products in Hong Kong and China.

 

Lines:-

 

Audio Equipment
Digital compact cassettes [DCC], digital loudspeakers systems, mini CD systems, midi systems, loudspeakers, CD players, clock radios, portable radios, world receivers, personal radios, radio cassette recorders, CD soundmachines, CD compo, headphone cassette players, headphone CD players, hearing instrument.

 

Video Equipment
Colour TVs, laser disc combination players, video cassette recorders, portable LCD CTV/VCRs.

 

Car Stereo
Car vision, car CD players, tuner-cassette combinations, amplifiers, speakers.

Information Products
Compact disc interactive [CD-I], telephone, fax machines, CD ROM, laser drive, CD recordable, personal computer-hardware/laptop/ software/peripherals, floppy disks, monitors, dictation systems, language learning systems.

 

Domestic Appliances and Personal Care Products
Menshavers, ladyshave, hair care products, health care products, food preparation products, table top cooking products, coffee makers, vacuum cleaners, irons, air cleaners, fans, heaters, dehumidifiers, timer products.

 

Telecommunications Equipment
Wired equipment – PABX systems, modems, multiplexers and networks, private and public transmission systems (including optical fibre).  Non-wired radio comm. products – microwave and rural telephony projects, private mobile radio systems, public trunked radios, cellular phones, pagers, etc.

 

Industrial Electronics
All kinds of lighting, recording, semiconductor, testing, ultra-sonic and measuring equipment (meters, multimeters), transformers, medical equipment.

 

Parts and Components
Cables, cords, capacitors, computer parts, connectors, diodes, LCD displays, PC boards, semiconductors, speakers, switches, transistors, CRTs.

 

Trade Mark:                   “PHILIPS” brand.

 

Group Employees:         121,888.  (As at 31-12-2011)

 

Commodities Imported:   Bought from “Philips” worldwide network.

 

Markets:                       Worldwide.

 

Group Turnover:-

FY

Whole Group

Lighting Sector

Year ended 31-12-2007

€20,751 million

--

Year ended 31-12-2008

€21,682 million

--

Year ended 31-12-2009

€20,092 million

€6,546 million

Year ended 31-12-2010

€22,287 million

€7,552 million

Year ended 31-12-2011

€22,579 million

€7,638 million

 

Terms/Sales:     As per contracted.

 

Terms/Buying:  On various terms.

 

GOVERNMENT CONTRACTS AWARDED SINCE 1990:

Date

GN No.

Particulars

Amount

26-05-2000

GN3335

Supply and Installation of Radiography and Fluoroscopy System

HK$5,800,000

30-06-2000

GN4212

Supply and Installation of Digital Cardiac Angiographic System to Hospital Authority

HK$12,145,000

27-07-2001

GN4645

Supply, Installation, Commissioning and Maintenance of a Private Automatic Branch Exchange System for Public Health Laboratory Centre

HK$792,446

26-10-2001

GN6719

Supply and installation of radiographic unit, tomographic, intravenous urology

HK$1,736,840

26-10-2001

GN6719

Supply and installation of patient monitoring system, patient documentation and image viewing workstation

HK$1,500,000

30-11-2001

GN7520

Upgrading of physiologic monitoring system and clinical information system

HK$2,265,500

28-12-2001

GN8109

Supply and installation of physiologic monitoring system with telemetry capability

HK$1,849,565

25-01-2002

GN636

Supply and installation of radiographic/fluoroscopic multipurpose X‑ray system

HK$8,995,000

25-01-2002

GN637

Supply of Lamp Fluorescent (HAQ 46/2001)

HK$1,087,975

22-02-2002

GN1199

Upgrading of patient monitoring system

HK$1,600,000

28-03-2002

GN1976

Supply and installation of patient monitoring network system

HK$1,800,000

31-05-2002

GN3323

Licence of the Advertising Area on the Rooftop of Immigration Tower, 7 Gloucester Road, Wanchai, Hong Kong
[01-07-2002 to 30-06-2002]

HK$17,658,000

28-06-2002

GN3994

Supply, Delivery, Installation, Commissioning and Maintenance of a Private Automatic Branch Exchange System for Tuen Mun Government Offices

HK$578,562

29-11-2002

GN7859

Supply and installation of patient monitoring network system and network obstetrical surveillance and archiving system

HK$5,416,515

29-08-2003

GN5962

Supply and installation of physiologic monitoring system

HK$2,000,000

26-08-2005

GN4257

Supply of general radiography system, computed radiography system and picture archiving and communication system

HK$1,885,000

26-08-2005

GN4259

A licence of the advertising area on the Rooftop of Immigration Tower, 7 Gloucester Road, Wanchai, Hong Kong
[01-07-2005 to 30-06-2008]

Monthly licence fee of HK$420,833

23-02-2007

GN1429

Supply of Lamp Fluorescent
[Tender Ref: HAQ 20060073]

HK$198,550

31-08-2007

GN5726

Supply and installation of general X-ray machine with computed radiography system, picture archiving and communication system and radiology information system

HK$4,743,469

28-09-2007

GN6399

Supply and installation of computed radiography system

HK$3,950,000 F.I.S. / Hong Kong including delivery, installation, on-site testing, commissioning, training and 12 months warranty

27-06-2008

GN4431

A licence of the advertising area on portion of the rooftop of Immigration Tower, 7 Gloucester Road, Wanchai, Hong Kong
[01-07-2008 to 30-06-2011]

Monthly licence fee of HK$550,000 (exclusive of rates and any other outgoings whatsoever)

29-07-2011

GN5034

A licence of the advertising area on portion of the rooftop of Immigration Tower, 7 Gloucester Road, Wanchai, Hong Kong
[01-07-2011 to 30-06-2014]

Monthly licence fee of HK$655,000 (exclusive of rates and any other outgoings whatsoever)

 

 

MEMBERSHIP    

 

·         Hong Kong Electrical Appliances Manufacturers Association, Hong Kong.

·         The Chinese General Chamber of Commerce, Hong Kong.

·         The Hong Kong Electronic Industries Association Ltd., Hong Kong.

·         The Hong Kong General Chamber of Commerce, Hong Kong. [Membership No. HKP0056]

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$6,000,000,000.00 (Divided into 600,000,000 shares of HK$10.00 each)

 

Issued Share Capital:     HK$4,621,980,000.00

 

Group Net Income/(Loss):           €4,880 million  (Year ended 31-12-2007)

(€    92 million)  (Year ended 31-12-2008)

€   424 million  (Year ended 31-12-2009)

€1,452 million  (Year ended 31-12-2010)

(€1,291 million) (Year ended 31-12-2011)

 

Profit or Loss:                Group made a loss in 2011.

 

Condition:                      Keeping in an active and good condition.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Promptly met as contracted.

 

Commercial Morality:     Good.

 

Bankers:-

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

·         Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.

·         ABN AMRO Bank N.V., Hong Kong Branch.

·         Citibank N.A., Hong Kong Branch.

etc.

 

Standing:                       Sound.

 

 

GENERAL

 

Philips Electronics Hong Kong Ltd. was previously known as Philips Consumer Communications Hong Kong Ltd. when it was incorporated in Hong Kong on 27th August, 1997.  It was due to the group’s restructure, the subject changed name to the present one on 3rd December, 1999 in order to take over all the business of Philips Hong Kong Ltd.

The subject’s capital was increased for several times.  Now in total, it has issued 462,198,000 ordinary shares of HK$10.00 each.

The subject was formerly 100% owned by a Netherlands-based firm Philips Consumer Communications B.V., changed to a wholly owned subsidiary of Philips Electronics China B.V., also a Netherlands-registered company, on 1st July, 2000.  The subject now is a member of the Philips Electronics China Group which is a member of the Philips Group.  The subject’s ultimate holding company is Koninklijke Philips Electronics N.V. [Philips] (or known as Royal Philips Electronics N.V.), also a Netherlands-based firm.  Its shares have been listed on the Amsterdam Stock Exchange Euronext Amsterdam since 1913, and have been traded in the United States since 1962, and also have been listed on the New York Stock Exchange since 1987.

Founded in 1891 in Eindhoven, the Netherlands, by Mr. Gerard Philips, Philips is one of the world’s biggest electronics companies.  The activities of the Philips Group are organized into 4 operating product divisions:-

1.       Healthcare

2.       Consumer Lifestyle

3.       Lighting

4.       Group Management Services

The history of Philips in Hong Kong dates back to 1948, when Hong Kong became the temporary headquarter of Philips (China) Ltd.  It was then named Philips Industries (Far East) Ltd. and was managed by Mr. F. Walterscheld, with the assistance of only two staff members.

In 1959, Philips’ business expanded to Burma, Taiwan, South Korea, Vietnam and Cambodia.

In 1965, Philips’ business expanded even further.  Philips has been responsible for the marketing of all its products locally since 1st January, 1971.  Philips provides a direct link with the Philips organization in Europe.  Philips is operating a bulb factory in Tsuen Wan, New Territories, Hong Kong, which was established in 1974.  Products were primarily provided for local torch and flashlight manufacturing factories and subsequently exported to Europe, the Middle East and South East Asia.

On 8th July, 1988, Philips China Hong Kong Ltd. was further renamed Philips Hong Kong Ltd.  In August 1997, another new entity Philips Electronics Hong Kong Ltd. was set up to take over the activities of Philips Hong Kong Ltd. formally in FY 1999/2000.

Now, Philips has developed well in China and has set up Philips China Hong Kong Group which now has several joint ventures in China.

In recent years, the subject has leased five floors comprising a total area of some 75,000 sq.ft. at Three Pacific Place, Wanchai, Hong Kong, where it consolidates its offices which were in North Point and Wanchai.

The subject has got ISO 14001 certification.

In June 2004, Hong Kong Science and Technology Parks Corporation [HKSTP] and the subject signed a lease agreement for facilities at the Science Park.  The new location is now housing several of the subject’s business units including Consumer Electronics – Mobile Infotainment and business creation activities for Personal Infotainment and mobile phones, Home Entertainment Networks, Mobile Display Systems and Philips Design which were formerly located at different offices.  The facility at Science Park has become the worldwide headquarters for Philips Mobile Infotainment and also the regional headquarters for Philips Design, one of the largest design studios in the world.  The lease covers approximately 83,000 sq.ft. of space in Building 7 at the Hong Kong Science Park.  Philips is the biggest European tenant of Science Park with 400 employees.

From its location at the Science Park, Philips is conducting research and development activities in applied technologies for electronics products and components.  Philips is also utilising the facility for business creation including market research, product creation and supply operations.

Philips of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world’s biggest electronics companies and Europe’s largest.  It is a global leader in colour television sets, lighting, electric shavers, medical diagnostic imaging and patient monitoring, and one-chip TV products.  Its employees in more than 150 countries are active in the areas of lighting, consumer electronics, domestic appliances, semiconductors, and medical systems.

Philips Lighting is the global market leader, with recognized expertise in the development, manufacturing and application of innovative lighting solutions. The Group has pioneered many of the key breakthroughs in lighting over the past 100 years, laying the basis for our current position.

Indoors, the Group offers specialized lighting solutions for homes, shops, offices, schools, hotels, factories and hospitals.  Outdoors, it provides lighting for public spaces, residential areas and sports arenas.  The Group also helps to make roads and streets safer for traffic and other road users (car lights and street lighting).  In addition, the Group addresses the desire for light-inspired experiences through architectural projects.  The Group also offers specific applications of lighting in specialized areas, such as horticulture, refrigeration lighting and signage, as well as heating, air and water purification, and healthcare.

Currently, the Group is operating the following sectors: Healthcare, Consumer Lifestyle, Lighting, and Group Management & Services.

In 2009, the Group saw continued deterioration of its markets.  Despite these challenging economic conditions, the Group acted quickly and decisively to further accelerate restructuring programs and implement cost-saving measures, while still investing in acquisitions, marketing, and research and development, and continuing to focus on cash flow.

Group sales amounted to €22,579 million in 2011, a 1.3% increase as compared with 2010 which was €22,287 million.

The Group recorded a net loss of €1,291 million in 2011 as compared with a net income of €1,452 million in 2010.

The Group sold its remaining stake in LG Display and Pace Micro Technology, generating €704 million cash proceeds and a gain of €117 million.  The economic downturn resulted in a €48 million non-cash impairment charge for NXP.  However, following the recovery of the TPV Technology share price in 2009, the accumulated non-cash impairment charge recognized in 2008 was reversed by an amount of €55 million.

As at 31st December, 2011, the Group employed 121,888 employees (2010: 116,165).

The subject is fully supported by the Philips Group.

On the whole, in view of the background and parentage of the subject, consider it good for normal business engagements.

REMARKS:

 

Property information of the Philips Group:-

Property Location

Owner

Date of Purchase

Purchased
Price

Philips Industrial Building,
24-28 Kung Yip Street, Kwai Chung, New Territories, Hong Kong.

P & M Properties Ltd.

31-10-1978

HK$18,289,477

 

(No mortgage record registered against the property)

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.89.34

Euro

1

Rs.72.35

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.