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Report Date : |
07.03.2013 |
IDENTIFICATION DETAILS
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Name : |
RIPLEY HONG KONG LTD. |
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Registered Office : |
7/F., Kings Tower, 111 King Lam Street, Cheung Sha Wan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.07.2006. |
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Com. Reg. No.: |
37005027 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Apparels, shoes & accessories, fashion accessories, luggage, bags & cases, etc. |
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No. of Employees : |
20. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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
RIPLEY HONG
KONG LTD.
ADDRESS: 7/F., Kings Tower, 111 King
Lam Street, Cheung Sha Wan, Kowloon, Hong Kong.
PHONE: 2153 7510, 3579 8101
FAX: 3579 2265
Managing Director: Mr. Felipe De Tezanos
Pinto De La Fuente
Incorporated on: 27th
July, 2006.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$9,840,426.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
20.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
7/F., Kings Tower, 111 King Lam Street, Cheung Sha Wan, Kowloon, Hong
Kong.
Holding Company:-
Comercial Eccsa Sociedad Anonima, Chile.
Ultimate Holding Company:-
Ripley Corp. S.A, Chile.
37005027
1062757
Managing Director: Mr. Felipe De
Tezanos Pinto De La Fuente
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$9,840,426.00
(As per registry dated 27-07-2012)
|
Name |
|
No. of shares |
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Comercial Eccsa Sociedad Anonima Huerfanos No. 1052, PISO 4/F., Santiago, Region Metropolitana, Chile. |
|
9,830,586 |
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Ripley Retail Limitada. Huerfanos No. 1052, PISO 4/F., Santiago, Region Metropolitana, Chile. |
|
9,840 |
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|
|
–––––––– |
|
|
Total: |
9,840,426 ======= |
(As per registry dated 27-07-2012)
|
Name (Nationality) |
Address |
|
Felipe DE TEZANOS PINTO DE LA FUENTE |
Flat A, 1/F., Block 32, Coastline Villa, 32 Discovery Bay Road,
Peninsula Village, Discovery Bay, Lantau, New Territories, Hong Kong. |
(As per registry dated 27-07-2012)
|
Name |
Address |
Co. No. |
|
Edtoma Secretarial Services Ltd. |
Suite 1201, 12/F., Tower 2, The Gateway, 25 Canton Road,
Tsimshatsui, Kowloon, Hong Kong. |
0534483 |
The subject was incorporated on 27th July, 2006 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Apparels,
shoes & accessories, fashion accessories, luggage, bags & cases, etc.
Employees: 20.
Commodities Imported: China, other Asian countries, etc.
Markets: South
America, Europe, etc.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000
shares of HK$1.00 each)
Issued Share Capital: HK$9,840,426.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities:
Making rather
active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
Ripley Hong Kong Ltd. is a subsidiary company of Comercial Eccsa
Sociedad Anonima which is a Chile-based firm.
The ultimate holding company of the subject Ripley Corp. S.A [Ripley] is
a Chile-based firm.
The only director of the subject Mr. Felipe De Tezanos Pinto De La
Fuente is a Chile-passport holder. He
does not have the right to reside in Hong Kong permanently. However, he is residing in Hong Kong
currently.
The subject is trading in the following commodities:-
Apparels, shoes & accessories, fashion accessories, luggage, bags
& cases, etc.
Today, Ripley Corp. is one of the largest retail companies in Chile and
Peru, with revenues of US$2,303 million and an EBITDA by December 2011 of
US$199 million.
The main business of Ripley is retail sales of apparels, accessories and
home products through different formats of department stores, accompanied by a
strong financial business through direct loans to its clients using “Ripley
Credit Card”.
Ripley also manages Ripley Bank in Chile and participates in the
ownership of shopping malls. It is a
retailer model centered on the client and focused on giving the best solutions
to the consumer needs.
Ripley Corp currently operates 58 stores in Chile and Peru, with a total
selling space of over 395 thousand square meters and more than 1,5 million
credit cards with debt. For its part,
Banco Ripley has 48 branches in Chile and 16 branches in Peru.
In January 2012, Ripley announced the beginning of operations in Colombia,
opening its first store in the first quarter of 2013.
The director of the subject Felipe De Tezanos Pinto De La Fuente took
part in the SAFSA member conference on 27th March, 2012.
More and more leading international fashion apparel brands and retailers
are finding Southeast Asia a preferred sourcing alternative to China. Many of
these companies have joined SAFSA and participated in the annual SAFSA Global
Forum to explore establishing long-term partnership with SAFSA virtual vertical
factory (VVF) suppliers of quality garments.
The subject is fully supported by Ripley Corp. History in Hong Kong is over six years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.71 |
|
|
1 |
Rs.82.79 |
|
Euro |
1 |
Rs.71.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<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.