MIRA INFORM REPORT
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Report Date : |
29.05.2013 |
IDENTIFICATION DETAILS
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Name : |
BLACK & DECKER MACAO COMMERCIAL OFFSHORE LTD |
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Registered Office : |
C 15fl Edificio Comercial Nam Tung 517 Avenida Da Praia Grande |
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Country : |
Macau |
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Date of Incorporation : |
11.03.2002 |
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Com. Reg. No.: |
SO 15333 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Trading of Fastening systems, Hardware, Home improvement products, Powertools accessories. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Macau |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
MACAU - ECONOMIC OVERVIEW
Since opening up its locally-controlled casino industry to
foreign competition in 2001, Macau has attracted tens of billions of dollars in
foreign investment, transforming the territory into one of the world's largest
gaming centers. Macau's gaming and tourism businesses were fueled by China's
decision to relax travel restrictions on Chinese citizens wishing to visit
Macau. By 2006, Macau's gaming revenue surpassed that of the Las Vegas strip,
and gaming-related taxes accounted for more than 70% of total government
revenue. Macau's economy slowed dramatically in 2009 as a result of the global
economic slowdown, but strong growth resumed in 2010-11, largely on the back of
tourism from mainland China and the gaming sectors. In 2012, this city of
582,000 hosted nearly 28 million visitors. Almost 60% came from mainland China.
Macau's traditional manufacturing industry has slowed greatly since the
termination of the Multi-Fiber Agreement in 2005. China is Macau's second
largest goods export market, behind Hong Kong, and followed by the United
States. In 2012, exports were less than US$1 billion, while gaming receipts
were US$38 billion, a 13.5% increase over 2011. Macau's economy expanded by 10%
in 2012; although impressive, it was a slower growth rate than in previous
years. Macau continues to face the challenges of managing its growing casino
industry, money-laundering, and the need to diversify the economy away from
heavy dependence on gaming revenues. Macau's currency, the pataca, is closely
tied to the Hong Kong dollar, which is also freely accepted in the territory.
Source
: CIA
Company name and address
BLACK
& DECKER MACAO COMMERCIAL OFFSHORE LTD
C 15FL EDIFICIO COMERCIAL NAM TUNG
517 AVENIDA DA PRAIA GRANDE, MACAU
TEL: 853-28780633 FAX: 853-28780635
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 11, 2002
REGISTRATION NO. :
SO 15333
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MR. DARREN GREGORY PRATT (DIRECTOR)
STAFF STRENGTH :
20
PAID-UP CAPITAL :
MOP 100,000
BUSINESS LINE :
TRADER
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
MOP 7.9964 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
MOP- Macau Patacas
Name in Local Language : 百得澳門離岸商業服務有限公司
Trading Name / DBA: BLACK & DECKER COMERCIAL OFFSHORE DE MACAU LTDA
Issuing Authority: Conservatoria dos Registos Comercial e de Bens Moveis
(Commercial Registry Office)
Primary Industry: Hardware & Tools
*CAPITAL (Currency: MOP)
=====================
Authorized Capital: 100,000
* OFFICE & FACILITIES *
=====================
Name: BLACK & DECKER MACAO COMMERCIAL OFFSHORE LTD - MACAU
Building Size: 1,000 Square meters
Address: C 15Fl Edificio Comercial Nam Tung 517 Avenida Da Praia Grande,
Macau
Status: Operational
*REPUTATION *
=============
Reference checking for the purpose of establishing the BLACK &
DECKER MACAO COMMERCIAL OFFSHORE LTD's reputation within the respective
industry failed to reveal any adverse information.
http://www.blackanddecker.com The design is professional and the content is
well organized. At present it is in English version.
E-mail: grace.kwok@bdk.com
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: 1
Total number of shares: N/A
Currency: MOP - Macau Patacas
Shares
No. Shareholders Country Amount
(MOP) %
1 BLACK
& DECKER LUXEMBOURG SARL Luxembourg 100,000
100.00
Total
100,000 100.00
*COMPANY DIRECTORS*
=====================
1
Name: Mr. Darren Gregory Pratt
Nationality: American
Registered Address: 6710 Canongate Rd, Baltimore, Maryland 21239
Country of Residence: USA
2
Name: Mr. Graig Argyle Douglas
Nationality: American
3
Name: Mr. Michael Dennehy Prado
Nationality: American
4
Name: Mr. Sethumadavan Dharapuram Srinivasan
Nationality: Indian
CORE BUSINESS DESCRIPTION
-Core Business
The primary business focus of BLACK & DECKER MACAO COMMERCIAL
OFFSHORE LTD is Trading - General products.
-Key products include:
Home improvement products
Power tools
Powertools accessories
Fastening systems
Hardware
-Supplementary Business
In addition to the core business, BLACK & DECKER MACAO COMMERCIAL OFFSHORE
LTD also is engaged in the following areas of business:
1. Exporting
Exporting -
Finished products
2. Importing
Importing -
Finished products
Primary Products
Products / Materials / Services Description Activity
Fastening systems Trading
Hardware Trading
Home improvement products Trading
Power tools Trading
Powertools accessories Trading
DOMESTIC SALES & PURCHASES
Annual Sales Analysis Percentage
Domestic Sales 70%
International Sales (Export) 30%
Annual Purchases Analysis Percentage
Local Purchases 80%
Imports 20%
PAYMENT TERMS
-Selling
Type Terms
Local Cash on
delivery (C.O.D)
Credit - Unsecured
30~120 days
Export Letter of
Credit (At-sight)
Telegraphic Transfer
(T/T) - Received at time of transaction
-Purchasing
Type Terms
Local Cash on
delivery (C.O.D)
Credit - Unsecured
30~120 days
Import Letter of
Credit (At-sight)
Telegraphic
Transfer (T/T) - Executed at time of transaction
INTERNATIONAL TRADE - Activity & Markets
Country / Region Estimated
level of importance Trading
Activity
Asia / Pacific Medium
Importing,
Exporting
Europe Medium
Importing,
Exporting
North America Medium Importing,
Exporting
China Medium
Importing
USA Medium
Exporting
SIC PRODUCT CLASSIFICATION & ACTIVITY
Product/Service Description Code
Activity
Hand and edge tools, except machine tools and hand saws 3423 Trading
Hardware 5072
Trading
Power driven hand tools, and parts, nspf 3546 Trading
Special dies, tools, jigs, and fixtures 3544
Trading
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Product/Service Description Code
Activity
Electromechanical tools, working in hand; parts 8508 Trading
Handtools nesoi; blow torches etc; anvils etc 8205 Trading
Hardware, fixtures, castors etc & parts, base metal 8302 Trading
Interchange tools for hand- or machine-tools, bmpt 8207 Trading
Pneumatic tools, hand-directed 8467195090
Trading
Tools for working in the hand, pneumatic etc, parts 8467 Trading
Direct Parent: BLACK & DECKER LUXEMBOURG SARL
Legal Form Category: Private Company with Limited Liability
Country: Luxembourg
Operational Address: 46A Ave J F Kennedy Luxembourg 1855
Primary Business Activity: Trader
Indirect Parent: BLACK & DECKER CORP, THE
Legal Form Category: Public Listed Company
Country: USA
Operational Address: 701 East Joppa Rd Towson Maryland 21286
Primary Business Activity: Manufacturer
Based on the corporate laws of Macao, legal entities which are Private
Company with Limited Liability are not required to make public disclosure of
their annual financials. Therefore no financials are available for this entity.
SC is considered small-sized in its line with a development history of
11 years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.74 |
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|
1 |
Rs.84.17 |
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Euro |
1 |
Rs.72.02 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.