|
Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
HEMA
FAR EAST LTD |
|
|
|
|
Formerly Known as: |
Vendex KBB Far East
Ltd. |
|
|
|
|
Registered Office : |
33/F., Saxon Tower, 7 Cheung Shun Street, Lai Chi Kok, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
19.07.1999 |
|
|
|
|
Com. Reg. No.: |
30243707 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Trader of Garments, textile products, foodstuffs, beverages, bicycle equipment, gardening tools, office supplies, electronic products, accessories, etc. |
|
|
|
|
No. of Employees : |
12 |
RATING & COMMENTS
|
MIRAs 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 June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
HEMA FAR EAST LTD.
33/F., Saxon Tower, 7 Cheung Shun Street, Lai Chi Kok, Kowloon, Hong Kong.
PHONE: 2245 5033, 2959 4500, 2959 4511
FAX: 2245 5050
E-MAIL: elaine.ng@vkfe.com
Managing Director: Mr. Wilhelmina Rolanda Van Den Heuvel-Hiddema
Incorporated on: 19th July, 1999.
Organization: Private Limited Company.
Capital: Nominal: HK$150,000.00
Issued: HK$50,000.00
Business Category: Buying Office.
Employees: 12.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
33/F., Saxon Tower, 7 Cheung Shun Street, Lai Chi Kok, Kowloon, Hong Kong.
Holding Company:-
HEMA B.V., The Netherlands.
Ultimate Holding
Company:-
Lion Capital LLP, UK.
Associated
Companies:-
· HEMA Belgie BVBA, Belgium.
· HEMA Deutschland GmbH, Germany.
· HEMA France SAS, France.
30243707
0682664
Managing Director: Mr. Wilhelmina Rolanda Van Den Heuvel-Hiddema
Nominal Share Capital: HK$150,000.00 (Divided into 100 A shares, 300 B shares, 300 C shares, 200 D shares, 100 E shares, 100 F shares, 100 G shares, 100 H shares, 100 I shares and 100 J shares of HK$100.00 each)
Issued Share Capital: HK$50,000.00
(As per registry
dated 19-07-2012)
|
Name |
|
No.
of shares |
|
|
|
|
B |
C |
|
HEMA B.V. NDSM-straat 10, 1033 SB Amsterdam, The Netherlands. |
|
250 === |
250 === |
(As per registry
dated 13-11-2012)
|
Name (Nationality) |
Address |
|
Aart Andries
WALTER |
Belle van Zuylenhof 9, 1277 CT
Huizen, The Netherlands. |
|
Wilhelmina Rolanda VAN DEN HEUVEL-HIDDEMA |
Block 5, Colour by the River,
No. 500 Nam Wai, DD214, Lot 999, Sai Kung, New Territories, Hong Kong. |
|
Ronald Adriaan VAN ZETTEN |
Amsteldijk Noord 107, 1183 TH
Amstelveen, The Netherlands. |
(As per registry
dated 19-07-2012)
|
Name |
Address |
Co.
No. |
|
PYCO Ltd. |
16/F., Des Voeux Commercial Centre, 212-214 Des Voeux Road
Central, Hong Kong. |
1305362 |
The subject was incorporated on 19th July, 1999 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Vendex KBB Far East Ltd., name changed to the present style on 9th May, 2007.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Buying Office.
Lines: Garments, foodstuffs, bicycle equipment, gardening tools, office supplies, accessories,
etc.
Employees: 12.
Commodities Imported: China, other Asian countries, etc.
Markets: Netherlands, other European countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$150,000.00 (Divided into 100 A shares, 300 B shares, 300 C shares, 200 D
shares, 100 E shares, 100 F shares, 100 G shares, 100 H shares, 100 I shares and 100 J shares of HK$100.00 each)
Issued Share Capital: HK$50,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Royal Bank of Scotland PLC, United Kingdom.
Standing: Good.
Hema Far East Ltd. is wholly-owned by HEMA B.V. [HEMA] which is a Netherlands-based firm. The subject is the buying office of HEMA in Hong Kong. Business has been active.
The subject has three Dutch directors while Mr. Wilhelmina Rolanda Van Den Heuvel-Hiddema is residing in Hong Kong.
Contact person Ms. Charlotte Alida Maria Hooijdonk was one of the directors of the subject.
Now, the subject has set up a representative office in Shanghai, China.
The subject is
trading in the following commodities:-
Garments, textile products, foodstuffs, beverages, bicycle equipment, gardening tools, office supplies, electronic products, accessories, etc.
HEMA (originally an acronym for Hollandsche Eenheidsprijzen Maatschappij Amsterdam, Dutch Standard Prices Company Amsterdam) is a Dutch dime store chain. It was part of the Maxeda company until June 2007, when it was bought by Lion Capital LLP. The chain is characterized by relative low pricing of generic housewares, which are mostly made by and for the chain itself, often combined with original design.
The first HEMA opened in Amsterdam on 4th November 1926, set up by the Jewish owners of the luxury department store De Bijenkorf. Originally, as a price-point retailer at prime locations in town centres, goods were sold using standard prices (hence its name), with everything having a Standard price of 10, 25 or 50 cents, and later also 75 and 100 cents. The relative economic boom in the Netherlands in the period 1900-1930 benefited HEMA.
After World War II, this model could not be sustained and the standard pricing system was abandoned. But a period of rapid expansion followed: now almost every town of any importance in the Netherlands has a HEMA. Locations carry a wide variety of goods, including clothing, food, bicycle equipment, gardening tools, and office supplies. As of 2010, standard pricing was reintroduced.
Now, HEMA is an international retail organisation with more than 550 stores in the Netherlands, Belgium, Luxemburg, France and Germany. HEMA distinguishes itself from other retailers by selling its own brand. In addition, HEMA develops its own assortment and likes to surprise customers with timely offers of products for daily use.
HEMA is a famous dutch retail company which was established in 1926. It promos the idea of good qulity with low price for all the articles for daily using. For years, the brand awearness in the Nertherands is 100%.
HEMA is a centrally managed company. It consists of the Headquarters, the Bakery, the Distribution Centre and Sales. In total, HEMA has approximately 10,000 employees 80% women and 20% men.
The logistic heart of HEMA is located in Utrecht and has an area the size of 13 football fields. This is where the international and national shipments arrive and from where the products are sent to the stores in time. Approximately 250 million articles are processed annually.
The subject is fully supported by HEMA.
As the history of the subject is over thirteen years in Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.83.70 |
|
Euro |
1 |
Rs.71.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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
SCs 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.