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Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MGB METRO GROUP BUYING HK LTD. |
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Registered Office : |
20/F., Skyline Tower, 39 Wang Kwong Road, Kowloon Bay, Kowloon: |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.05.2003 |
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Com. Reg. No.: |
33696581 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
All kinds of merchandises. |
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No. of Employees : |
400. (Including associates) |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
MGB METRO
GROUP BUYING HK
LTD.
Address: 20/F., Skyline
Tower,
39 Wang Kwong
Road,Kowloon Bay, Kowloon, Hong Kong.
(Your enquiry given as:
METRO GROUP BUYING
and old address at:
9/F., South Tower, World Finance Centre,
17 Canton Road, Tsimshatsui, Kowloon, Hong Kong.)
PHONE: 2738 1388
FAX: 2735 2455
E-MAIL: mgbhongkong@metro-mgb.com.hk
supplychain@metro-mgb.com.hk
Managing Director: Mr. Michael
Ciesielski
Incorporated on: 14th May, 2003.
Organization: Private
Limited Company.
Capital: Nominal: HK$50,000,000.00
Issued: HK$50,000,000.00
Business Category: Buying Office.
Group Net Sales: 66,702 million (Year ended 31-12-2011)
Company Employees: 400. (Including associates)
Group Employees: 280,856. (As at 31-12-2011)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
Registered Office:-
Room 1401, 14/F., Hutchison House, 10 Harcourt Road, Hong Kong.
Head Office:-
20/F., Skyline Tower, 39 Wang Kwong Road, Kowloon Bay, Kowloon,
Hong Kong.
Holding Company:-
METRO AG
Schlόterstraίe 1, 40235 Dόesseldorf, Germany.
[Tel: 49-211-6886-0; Fax:
49-211-6886-2000]
Associated/Affiliated Companies:-
METRO Group of
Companies
Dalian Metro Warehouse Management Co. Ltd., China.
Dinea Gastronomie GmbH, Germany.
GALERIA Kaufhof GmbH, Germany.
INNOVATION S.A., Belgium.
Kaufhof Warenhaus AG & Co. KG, Germany.
Makro Autoservicio Mayorista S.A., Spain.
MAKRO Cash & Carry Belgium NV, Belgium.
MAKRO Cash & Carry CR s.r.o., Czech Republic.
Makro Cash & Carry Polska S.A., Poland.
Makro Cash & Carry UK Holding Ltd., UK.
Media Markt Saturn Holding Nederland B.V., Netherlands.
Media Markt Saturn S.A. Unipersonal, Spain.
Mediamarket S.p.A., Italy.
Media-Saturn Beteiligungsges mbH, Austria.
Media-Saturn-Holding GmbH, Germany.
MEM METRO Group Energy Production & Management GmbH, Germany.
Metro Cash & Carry Brunnthal GmbH, Germany.
METRO Cash & Carry Deutschland GmbH, Germany.
METRO Cash & Carry France S.A.S., France.
METRO Cash & Carry International GmbH, Germany.
METRO Cash & Carry International Holding GmbH, Austria.
METRO Cash & Carry International Holding GmbH, Germany.
METRO Cash & Carry OOO, Russia.
METRO Cash & Carry Romania SRL, Romania.
METRO Cash & Carry Ukraine Ltd., Ukraine.
METRO Distributie Nederland B.V., Netherlands.
Metro Grosmarket Bakirkφy Alisveris Hizmetleri Ticaret Ltd. Sirketi,
Turkey.
METRO Group Asset Management GmbH & Co. KG, Germany.
METRO Group Asset Management Services GmbH, Germany.
METRO Gro-
und Lebensmitteleinzelhandel Holding GmbH, Germany.
METRO Grohandelsgesellschaft
mbH, Germany.
METRO Italia Cash & Carry S.p.A., Italy.
METRO Jinjiang Cash & Carry Co. Ltd., China.
METRO Kaufhaus und Fachmarkt Holding GmbH, Germany.
METRO Kereskedelmi Kft., Hungary.
METRO Property Management (Beijing) Co. Ltd., China.
Metro Property Management (Changsha) Co. Ltd., China.
Metro Property Management (Chengdu Qingyang) Co. Ltd., China.
Metro Property Management (Dongguan) Co. Ltd., China.
METRO Property Management (Harbin) Co. Ltd., China.
METRO Property Management (Nanchang Qingshanhu) Co. Ltd., China.
Metro Property Management (Nantong) Co. Ltd., China.
METRO Property Management (Shenyang) Co. Ltd., China.
Metro Property Management (Suzhou) Co. Ltd., China.
METRO Property Management (Tianjin Hongqiao) Co. Ltd., China.
Metro Property Management (Wuhan) Co. Ltd., China.
METRO Property Management (Xiamen) Co. Ltd., China.
METRO Property Management (Xian) Co. Ltd., China.
Metro Property Management (Zhengzhou) Co. Ltd., China.
METRO Warehouse Management (Chongqing) Co. Ltd., China.
Metro Warehouse Management (Hangzhou) Co. Ltd., China.
Metro Warehouse Management (Wuhan) Co. Ltd., China.
MFM METRO Group Facility Management GmbH, Germany.
MGA METRO Group Advertising GmbH, Germany.
MGB METRO Group Buying GmbH, Germany.
MGB METRO Group Buying International GmbH, Germany.
MGB METRO Group Buying West GmbH, Germany.
MGC METRO Group Clearing GmbH, Germany.
MGE Warenhandelsgesellschaft mbH, Germany.
MGI METRO Group Information Technology GmbH, Germany.
MGL METRO Group Logistics GmbH, Germany.
MGL METRO Group Logistics Warehousing Beteiligungs GmbH, Germany.
MGL METRO Group Logistics Warehousing GmbH, Germany.
MGP METRO Group Account Processing GmbH, Germany.
MGS METRO Group Solutions GmbH, Germany.
MGT METRO Group Travel Services GmbH, Germany.
MIAG Commanditaire Vennootschap, Netherlands.
MIB METRO Group Insurance Broker GmbH, Germany.
MIP METRO Group Intellectual Property GmbH & Co. KG, Germany.
MTT METRO Group Textiles Transport GmbH, Germany.
Qingdao Metro Warehouse Management Co. Ltd., China.
Real Holding GmbH, Germany.
real- SB-Warenhaus GmbH, Germany.
real- Sp. z.o.o.i Spσlka spσlka komandytowa, Poland.
Zweite real- SB-Warenhaus GmbH, Germany.
etc.
33696581
0847259
Managing Director & CEO: Mr.
Michael Ciesielski
Nominal Share Capital: HK$50,000,000.00 (Divided into 500,000 shares of
HK$100.00 each)
Issued Share Capital: HK$50,000,000.00
(As per registry dated 14-05-2012)
|
Name |
|
No. of shares |
|
METRO AG Schlόterstraίe 1, 40235 Dόesseldorf, Germany. |
|
500,000 ====== |
(As per registry dated 08-11-2012)
|
Name (Nationality) |
Address |
|
Gieseke HENNIING |
40219 Dόssekdorf, Fόrstenwall 66, Germany. |
|
Storck THOMAS ROBERT |
Am Rheinblick 12, 40668 Meerbusch, Germany. |
|
Joerg-Friedrich KRAMER |
Tippheideweg 19, 41379 Bruggen-Born, Germany. |
|
Thomas BURKHALTER |
Flat A, 65/F., La Rossa A, Coastal Skyline, 12 Tung Chung Waterfront Road,
Tung Chung, Lantau Island, Hong Kong. |
|
Diego BEVILACQUE |
Rheinallee 148, 40545 Dusseldorf, Germany. |
|
Michael CIESIELSKI |
Flat C, 15/F., Tower B, La Rossa, Coastal Skyline, 12 Tung Chung
Waterfront Road, Tung Chung, Lantau Island, Hong Kong. |
|
Stefan LOEWE |
Flat C, 56/F., Block 3, Coastal Skyline, 12 Tung Chung Waterfront
Road, Tung Chung, Lantau Island, New Territories, Hong Kong. |
|
Dirk JUNG |
Flat A, 26/F, Tower 1, 68 Bel-Air Peak Avenue, Bel‑Air on the Peak,
Island South (Phase 4), Pokfulam, Hong Kong. |
|
Olaf Giinter KOCH |
Berta-Semter Strass 11, 74379 Ingersheim, Germany. |
(As per registry dated 14-05-2012)
|
Name |
Address |
Co. No. |
|
B. & McK. Nominees Ltd. |
Room 1401, 14/F., Hutchison House, 10 Harcourt Road, Hong Kong. |
0054552 |
The subject was incorporated on 14th May, 2003 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at 9/F., South Tower, World Finance
Centre, 17 Canton Road, Tsimshatsui, Kowloon, Hong Kong, has moved to the
present address in recent months.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Buying
Office.
Lines: All
kinds of merchandises.
Company Employees: 400. (Including associates)
Group Employees: 280,856. (As at 31-12-2011)
Commodities Imported: Imported from China, Japan and other Asian countries.
Markets: Germany
and other European countries.
Group Net Sales: 64,210 million
(Year ended 31-12-2007)
67,955
million (Year ended 31-12-2008)
65,529
million (Year ended 31-12-2009)
67,258
million (Year ended 31-12-2010)
66,702
million (Year ended 31-12-2011)
46,665
million (9 months ended 30-09-2011)
47,380
million (9 months ended 30-09-2012)
Terms/Sales:
As per contracted.
Terms/Buying: Various terms.
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKM0502]
German Chamber of Commerce, Hong Kong.
Nominal Share Capital: HK$50,000,000.00
(Divided into 500,000 shares of HK$100.00 each)
Issued Share Capital: HK$50,000,000.00
Alternation of Capital:-
|
14-05-2003 |
paid up |
HK$ 200.00 |
|
04-06-2003 |
paid up |
HK$ 9,800.00 |
|
17-11-2003 |
paid up |
HK$49,990,000.00 |
|
|
|
|
|
Total: |
paid up |
HK$50,000,000.00 ============== |
Increase of Nominal Capital:-
|
From |
HK$10,000.00 |
to |
HK$50,000,000.00 |
on |
03-11-2003 |
Group Net Profit/(Loss) Attributable to
Shareholders:-
825 million
(Year ended 31-12-2007)
401 million
(Year ended 31-12-2008)
383 million
(Year ended 31-12-2009)
850 million
(Year ended 31-12-2010)
631 million
(Year ended 31-12-2011)
227 million (9 months ended 30-09-2011)
( 26
million) (9 months ended 30-09-2012)
Group Net Worth: 6,498 million (As
at 31-12-2007)
6,061 million (As at 31-12-2008)
5,992 million (As at 31-12-2009)
6,460 million (As at 31-12-2010)
6,437 million (As at 31-12-2011)
Profit & Loss: Making a small profit every year.
Condition: Keeping
in an active and satisfactory condition.
Facilities: Making
active use of general banking facilities.
Payment: Met as contracted.
Commercial Morality: Satisfactory.
Banker:
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Good.
MGB METRO Group Buying HK Ltd. [MetroHK], incorporated in May 2003, was a
wholly-owned subsidiary of MGB METRO Group Buying GmbH which is a Germany-based
firm. On 20th October, 2008, MGB METRO
Group Buying GmbH transferred all its shares to MGB METRO Group Buying
International GmbH [MGBI], also a Germany-based firm, which is in turn
100%-owned by METRO AG, a Germany-based firm.
Now MetroHK is directly under the control of METRO AG.
MetroHK is METRO AGs global sourcing headquarters in Hong Kong and its
business covers all markets outside the European Union.
METRO AGs Hong Kong operation, under the name of Gemex Trading Ltd.
[Gemex], was integrated into the Group and has signed under the name of MetroHK
since 1st November, 2003.
Being METRO AGs sourcing headquarters, MetroHK is responsible for all
buying activities from Asia and non-European Union countries.
METRO AG has set up regional offices in strategically important
countries which report directly to MetroHK.
MetroHK now has around 400 employees worldwide. MetroHK has set up representative offices in
China, India, Bangladesh, Vietnam and Turkey.
It has moved to a new office in recent months which is located in 20/F.,
Skyline Tower, 39 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong.
MetroHK is trading in the following commodities: clothing (knitted,
woven, leather and fur skins, accessories); headgear; footwear; watches and
clocks; pearls, precious and semi-precious stones; jewellery, imitation
jewellery; travel goods and handbags; fish and seafood, fresh or preserved;
vegetables, fruits and nuts; processed food, biscuits and confectionery;
furniture, bedding, mattresses, cushions, carpets and floor coverings;
non-electrical household articles, tableware, kitchenware and utensils;
electrical household articles; electronic household articles, audio and video
equipment, radios; lighting fixtures and fittings; gift and premiums; Christmas
decorations, artificial flowers and plants; toys, pens, games; sporting goods;
hides, skins and leather products; plastic products; ceramic products; wood
products; glass and glassware; rubber products; miscellaneous light industrial
products; paper and paperboard, articles of paper, stationery; optical and
photographic instruments and apparatus; electrical machinery, apparatus and
parts; mechanical machinery, apparatus and parts; office machines and computer
equipment and parts; heating and cooling equipment and parts; electronic
devices, parts and accessories; telecommunications, audio and video equipment
and parts; cosmetics, toiletries, perfumery, etc.
MetroHKs business activities are the followings:-
The METRO Group is headed by METRO AG, which is based in Dόsseldorf and
acts as a strategic management holding company.
METRO AG is one of the worldwide largest trading groups.
The METRO Group was created in 1996 by the merger of leading trade and
retail companies. The Group is composed
of high-performing, independent individual companies and businesses. Its operative business is handled by four
sales divisions. Since its public
listing in November 2005, the Praktiker sales division has no longer been a
part of the METRO Group portfolio.
Cross-divisional services such as logistics, information technology and
the procurement of advertising media are bundled in cross-divisional service
companies.
The Group is one of the most important international retailing
companies:-Some 180 nations are working at over 2,200 outlets in 32 countries
in Europe, Africa and Asia. The
portfolio of its strong sales brands offers a wide range of services for
private and commercial customers:-
Today, the METRO Group is the third largest retailer worldwide. It employs about 280,856 staff in more than
30 countries and regions as at the end of 2011, nearly one half of whom work
outside Germany.
METRO Group established a new Group structure in conjunction with Shape
2012 during the FY 2009. METRO AG
continues to be headed by METRO AG based in Dusseldorf. As a strategic management holding company,
METRO AG manages, among other things, the Group-wide Finance, Controlling and
Compliance functions.
In FY 2011, the METRO Group generated net sales of 66,702 million,
decreased by 0.8% as compared with 67,258 million in FY 2010. Group net profit for the year was 979
million, decreased by 14.0% as compared with 1,139 million in FY 2010.
For the 9 months ended 30th September, 2012, the sales of the Group
amounted to 47,380 million, grew by 1.5% as compared with that of 46,665
million in the same period of FY 2011; the Group made a loss in the
period. Its loss attributable to
shareholder was 26 million, as compared with a profit attributable to
shareholder of 227 million in the same period of previous year.
Global economic developments were extremely weak from January to
September 2012. Many countries,
especially in Western Europe, were in or on the verge of recession. Even Germany was unable to escape the effects
of the European debt crisis any longer after its dynamic growth in the past two
years.
From January to September 2012, the Group had 40 new stores opened and
14 closed respectively sold. 12 openings and 4 disposals/closures took place in
the third quarter. In addition, 30
stores were disposed of in the United Kingdom due to the sale of Makro UK.
On the whole, in view of the background and parentage of MetroHK,
consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.