|
Report Date : |
09.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
LIDL HONG KONG
LTD |
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|
|
Registered Office : |
25/F., Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.02.2006 |
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Com. Reg. No.: |
36488288 |
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|
|
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Legal Form : |
Private Limited
Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Garments, textile products, electric products, mobile phones, baby products, other general merchandise, etc. |
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No. of Employees : |
40. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong
Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese
companies constituted about 46.6% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 57.4% 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,
and less than 2% in 2012. Credit expansion and tight housing supply conditions
caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in
2012. 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 |
LIDL HONG
KONG LTD.
ADDRESS: 25/F., Miramar Tower, 132 Nathan
Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2545 0821
FAX: 2851 3912
Managing
Director: Mr. Volker Harald Herbert
Glaeske
Incorporated
on: 28th
February, 2006.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,500,000.00
Issued: HK$10,500,000.00
Business
Category: Importer, Exporter and
Wholesaler.
Employees: 40.
Main Dealing
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Registered
Head Office:-
25/F., Miramar
Tower, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
ERF Beteiligungs
GmbH, Germany.
Ultimate Holding Company
Lidl Stiftung
& Co. KG, Germany.
Lidl Group of
Companies
Lidl & Cie,
Portugal.
Lidl Asia Pacific
Sourcing Ltd., Hong Kong. (Different
address)
Lidl Austria GmbH,
Austria.
Lidl Belgium GmbH
& Co. KG, Belgium.
Lidl Cyprus GmbH,
Cyrpus.
Lidl d.o.o. k.d.,
Slovenia.
Lidl Danmark K/S,
Denmark.
Lidl
Dienstleistung GmbH & Co. KG, Germany.
Lidl France,
France.
Lidl Hrvatska doo
k.d., Croatia.
Lidl Ireland GmbH,
Ireland.
Lidl Italia
S.r.l., Italy.
Lidl Magyarország
Kereskedelmi Bt., Hungary.
Lidl Malta Ltd., Malta.
Lidl Nederland
GmbH, the Netherlands.
Lidl North Ireland
GmbH, Ireland.
Lidl Polska Sklepy
Spozywcze Sp. z o.o. Sp. k., Poland.
Lidl Schweiz GmbH,
Switzerland.
Lidl Slovenská
republika v.o.s., Slovakia.
Lidl Suomi KY,
Finland.
Lidl Supermercados
S.A.U., Spain.
Lidl Sverige KB,
Sweden.
Lidl UK Ltd., UK.
etc.
36488288
1027052
Managing
Director: Mr. Volker Harald Herbert
Glaeske
Nominal Share Capital:
HK$10,500,000.00 (Divided into 10,500,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,500,000.00
(As
per registry dated 28-02-2013)
|
Name |
|
No.
of shares |
|
ERF Beteiligungs GmbH Berliner Chaussee 13, D-16559 Liebenwalde-Kreuzbruch, Germany. |
|
10,500,000 ======== |
(As
per registry dated 28-02-2013)
|
Name (Nationality) |
Address |
|
Volker
Harald Herbert GLAESKE |
Flat B, 21/F., Block 1, CentreStage, 108-110
Hollywood Road, Central, Hong Kong. |
|
Maarten-Jan
KOSTER |
G/F., 81 Seabee Lane, Headland Village,
Discovery Bay, Lantau Island, Hong Kong. |
|
Kurt Walter
SCHILLI |
Flat C, 25/F., Honor Villa, 75 Caine Road,
Hong Kong. |
(As
per registry dated 28-02-2013)
|
Name |
Address |
Co.
No. |
|
Tricor Corporate Secretary Ltd. |
Level 28, Three Pacific Place, 1 Queen’s Road East, Wanchai, Hong
Kong. |
0714799 |
The
subject was incorporated on 28th February, 2006 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly
the subject was located at Unit 2901-2913, 29/F., Millennium City 2, 378
Kwun Tong Road, Kowloon, Hong Kong, moved to the present address in December
2012.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Garments,
textile products, electric products, mobile phones, baby products,
other
general merchandise, etc.
Employees: 40.
Commodities
Imported: China and other
Asian countries, etc.
Markets: Germany and other European
countries.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, etc.
Nominal Share
Capital: HK$10,500,000.00 (Divided
into 10,500,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,500,000.00
Profit or Loss:
Making a small profit in
the past years.
Condition: Business is rather active.
Facilities: Making active use of general
banking facilities.
Payment: Met trade
commitments as contracted.
Commercial
Morality: Satisfactory.
Banker: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Incorporated
in February 2006, Lidl Hong Kong Ltd. is a wholly-owned subsidiary of ERF
Beteiligungs GmbH which is a Germany-based firm.
At
the very beginning, the shares held by ERF Beteiligungs GmbH were held by
Fortra Overseas Services Inc. which is a BVI-registered firm. On 28th March, 2006, Fortra Overseas Services
Inc. transferred all its shares to ERF Beteiligungs GmbH which is the current
sole shareholder.
The
current director of the subject Mr. Volker Harald Herbert Glaeske is a Hong
Kong ID Card holder. He has been in Hong
Kong for a very long time. However, a
new director was appointed in late 2012.
The
subject has had an associated company Lidl Asia Pacific Sourcing Ltd. which is
located at a different address in Hong Kong.
The
subject is the buying office of the Lidl Group [Lidl] in Hong Kong. Lidl is a chain of supermarkets which is a
part of the Schwarz Group.
The
subject is trading in the following products:-
Suits
& Jackets - Men’s, Children’s Wear, Blouses, Coats, Denim Garments, Dresses
& Skirts, Evening & Party Dresses, Shirts, Knitwear, Cardigan , Sweater
& Pullover, Tee & Sweat Shirts, Underwear - Women’s, Nightwear &
Pyjamas, Sportswear, Fashion Accessories, Footwear, Games & Toys -
Electronic, Clock - Analogue, AC, Cameras & Photographic Equipment,
Bathroom Mat, Babies’ Wear, Baby Bed/Cot, Office Equipment, Healthcare Product
- Electrical, Audio-Visual Products, Computer & Peripherals, Electrical
Appliances, Lighting Products, Lamps, Lamp - Ceiling, AC, Lamp - Desk, AC, Lamp
- Wall, AC, Chandelier, Halogen Lamp, Tiffany Lamp, Outdoor Lamp, Lamp - Floor,
Spotlight, Bulbs, Lamp Parts, Lamp Shade - Others, Ballast, Light Dimmer,
Lighting Equipment - Commercial, Stage Light, Telecom Products, Mobile Phone
& Mobile Phone Equipment (Mobile Devices & Accessories), Mobile Phone
(smart phones), Security Products, Solar Lamp, Testing Instrument For
Electrical/Electronic Product, Console Game, Electronic Gadgets,
Electronic/Electrical Components & Accessories, Imitation/Costume
Jewellery, Reading Glasses, Sunglasses, Quilt, Table Cloth & Napkin -
Embroidered, Table Cloth & Napkin - Non-Embroidered, Placemat - Fabric,
Coaster - Fabric, Tea Towel, Huck Towel, Toilet Seat Cover - Fabric, Towel -
Kitchen, Curtain - Shower, Christmas Light, Quality Management Services,
Lighting Design, Trade/Industrial Title Publishing, Quality/Laboratory Testing
Services, Electronics Technology, Testing & Certification, Multimedia
Products, Digital Products, Crystal Lights, Green Lighting, LED Lighting,
Tablet PC, etc.
Employing
about 40 employees, the subject currently is still looking for “competitive
suppliers” from worldwide countries.
Lidl’s
full name is Lidl Stiftung & Co. KG.
It belongs to the holding company Schwarz, which also owns the store
chains Handelshof and Kaufland.
Lidl
is expanding strongly throughout Europe and beyond its borders. Currently it has 10,000 stores in more than
25 countries in Europe.
Lidl
is a German discount chain which is now one of the most successful discounters
in Germany. It has launched its
international private label fair trade line, Fairglobe, in the Netherlands and
Sweden. The range consists of the six
products: bananas, coffee, tea, juice, chocolate bars and cane sugar.
Lidl
is present in the following countries: Germany, Austria, Belgium, Bulgaria,
Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary,
Ireland, Italy, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romaina,
Solvakia, Slovenia, Norway (withdrawal in 2008), Spain, Sweden, Switzerland,
the United Kingdom, etc.
Lidl
was founded in the 1930’s by a member of the Schwarz family, then called
Schwarz Lebensmittel-Sortimentsgrosshandlung.
In the 1970’s, the first Lidl stores of today’s incarnation opened.
In
1930, Josef Schwarz became a partner in Südfrüchte Grosshandel Lidl & Co.,
a fruit wholesaler, and he developed the company into a general food
wholesaler. In 1977, under his son
Dieter Schwarz, Lidl & Schwarz began to focus on discount markets, larger
supermarkets, and cash and carry wholesale markets. The first Lidl discount store was opened in
1973, copying the Aldi (Lidl’s main competitor) concept. In 1977, the Lidl chain comprised 30 discount
stores. Dieter Schwarz’s problem was
that he could not just start using the Lidl name. As Schwarz Markt (Black Market) did not seem
as a good idea, he bought the right to use the Lidl name from Ludwig for 1,000
marks.
Now,
Lidl is in almost all European countries.
Its stores commonly carry about 800 different items mostly under Lidl’s
own brand.
Having
its headquarters in Neckarsulm, Germany, Lidl’s business is active.
The
Schwarz Group ranks as the fifth largest retailer in the world after Walmart,
Carrefour, Tesco and Metro AG. The
German-based retailer has experienced rapid growth across Europe for years but
future expansion is likely to be more of a challenge. For instance, sales growth in Germany was
flat in 2009 despite the addition of 80 new stores. The Schwarz Group, parent of hard discount
format Lidl, Kaufland hypermarket and Handelshof supermarket, operates numerous
stores throughout Europe.
The
Schwarz Group has moved into Bulgaria in 2010 by acquiring Plus discount stores
from Tengelmann. Now, the German
retailer has a presence in 24 countries.
Lidl is likely to enter North America in 2012.
The
turnover of Schwarz, the 5th largest retailer in the world, amounted to US$82.4
billion in 2011. The top executive is
Mr. Klaus Gehrig.
Since
establishing in the United Kingdom in 1994, Lidl has grown consistently and
today has more than 580 stores throughout the United Kingdom. While it is still a small player in the
United Kingdom market with a grocery market share of less than 5%, its
importance along with that of continental no-frills competitor Aldi is growing.
The
Schwarz Group’s Lidl discount store division operated approximately 9,800 stores
in 26 European markets, contributing sales of EUR 45.4 billion (£35.4 billion).
In
Germany, Schwarz Group’s speed of expansion has slowed down remarkably –
previously it focused on expanding and gaining market share. The group is now focusing on qualitative
improvements and generally higher demands in terms of footfall and
profitability for new store sites.
Lidl,
with its focus on virtually all Western and most central European markets, is
investing in the roll-out of in-store bakeries in larger and more modern
shops. The initiative is seen as a means
of attracting shoppers looking out for fresh products.
The
subject has got an associated company Lidl Asia Pacific Sourcing Ltd. which is
a Hong Kong-registered company.
The
subject is fully supported by Lidl.
Business is active in Hong Kong.
History is over seven years.
On
the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.99 |
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 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.