|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
OTTO INTERNATIONAL (HONG KONG) LTD. |
|
|
|
|
Registered Office : |
19/F. & 22/F., Peninsula Square, 18 Sung On Street, Hunghom,
Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
25.01.1980 |
|
|
|
|
Com. Reg. No.: |
06600202 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Re-exporter, Mail Order Firm of Textile products,
electronic products and other consumer products |
|
|
|
|
No. of Employees |
50 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Hong Kong |
A1 |
A1 |
|
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
has no tariffs on imported goods, and it levies excise duties on only four
commodities, whether imported or produced locally: 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, its continued reliance on foreign trade and
investment leaves it vulnerable to renewed global financial market volatility
or a slowdown in the global economy. 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 12% of total system deposits in Hong
Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have caused Hong
Kong property prices to rise rapidly; consumer prices increased by more than 4%
in 2013. 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. In
2013, Hong Kong and China signed new agreements under the Closer Economic
Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong
and the mainland. The new measures, effective from January 2014, cover services
and trade facilitation, and will improve access to the mainland's service
sector for Hong Kong-based companies.
|
Source
: CIA |
OTTO
INTERNATIONAL (HONG KONG) LTD.
ADDRESS: 19/F. & 22/F., Peninsula
Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2303 7000, 2362 9773,
2773 3977
FAX: 852-2330 8885, 2330 8773
E-MAIL: info@ottoint.com
Managing Director: Mr.
Michael Dumke
Incorporated on: 25th
January, 1980.
Organization: Private
Limited Company.
Capital: Nominal: HK$20,000,000.00
Issued: HK$20,000,000.00
Business Category: Importer and Re-exporter, Mail Order Firm.
Group Revenue: €12,001.0
million (Year ended 28-02-2014)
Employees:
50.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Very
Good.
OTTO
INTERNATIONAL (HONG KONG) LTD.
ADDRESS
Registered
Office:-
6/F., Alexandra House, 18 Chater Road,
Central, Hong Kong.
Head
Office:-
19/F. & 22/F., Peninsula Square, 18 Sung
On Street, Hunghom, Kowloon, Hong Kong.
Holding
Company:-
OTTO International GmbH, Germany.
Ultimate
Holding Company:-
OTTO (GmbH & Co. KG), Germany.
Subsidiary/Associated
Companies:-
OTTO Group of
Companies
“CROIX” Industrie-Administration GmbH,
Germany.
3 Pagen Handelsgesellschaft mbH, Germany.
3 Pagen Immobilien GmbH, Germany.
3 Pagen Versand und Handelsgesellschaft mit
beschränkter Haftung, Germany.
3 Pagen Vertriebsgesellschaft AG,
Switzerland.
3 Suisses de re S.A., Luxembourg.
3 Suisses France SCS, France.
3 Suisses International S.A., France.
3 Suisses International Trade (Shanghai) Co.
Ltd., China.
3 Suisses Voyages SNC, France.
3S Assurances SCS, France.
3SH SNC, France.
3SW SAS, France.
A. E. Allitt Ltd., UK.
AffordaCare Inc., US.
Agency One Ltd., UK.
Alba Moda GmbH, Germany.
Amberville Consulting Ltd., Cyprus.
ambria GmbH, Germany.
Argus Inkasso GmbH, Germany.
Arianta SAS, France.
Arivo S.A., Switzerland.
ARTHUR Holding GmbH, Germany.
ASCQ Industrie-Administration G.m.b.H.,
Germany.
Aspirations (UK) Ltd., UK.
B.I.G. Baur-Immobilien-GmbH & Co. KG,
Germany.
Balata Grundstücksverwaltungsgesellschaft
mbh & co Vermietungs KG, Germany.
baumarkt direkt GmbH & Co. KG, Germany.
Baur Versand (GmbH & Co. KG), Germany.
Baur-Immobilien-Verwaltungs-GmbH, Germany.
Beaute Createurs Participations S.A.,
France.
Becquet SAS, France.
BFS Baur Fulfillment Solutions GmbH,
Germany.
BIC Retail Enterprises Ltd., Cyprus.
bon prix Beteiligungs-Verwaltungsgesellschaft
mbH, Germany.
bon prix Handelsgesellschaft mbH, Germany.
bon prix retail AG, Switzerland.
bon prix retail GmbH, Germany.
Bon Prix S.r.l., Italy.
bon prix Sp. z.o.o., Poland.
BV Capital Fund III LP, US.
BVB Beteiligungs-und Verwaltungs-GmbH,
Germany.
BWR Reisebüro GmbH & Co. KG, Germany.
BWR Reisebüro Verwaltungsgesellschaft mbH,
Germany.
California Service Bureau Inc., US.
Camif Polska SARL, Poland.
Cemod-CZ s.r.o., Czech Republic.
Cemod-SK s.r.o., Slovakia.
Centurium Verwaltungs-GmbH, Germany.
Cidal SNC, France.
CITE Numerique SNC, France.
Civad SAS, France.
Cogedac SNC, France.
Cogemag SCS, France.
Collecto Inc., US.
Commerce BtoB SAS, France.
Compania Internacional para la Financión de
la Distribución S.A., Spain.
Contactnet Ltd., UK.
Contentia France SAS, France.
Contentia S.A., Belgian.
CoXulto Marketing Solutions GmbH, Germany.
Crate and Barrel Canada Inc., Canada.
Crate and Barrel Holdings Inc., US.
Crate and Barrel International Sourcing
Ltd., Hong Kong.
creation L Handelsgesellschaft mbH, Germany.
Customerservicesnet Ltd., UK.
Direct Home Shopping Brands Ltd., UK.
direxi SAS, France.
Downland Debt Recovery Ltd., UK.
Eddie Bauer (UK) Ltd., UK.
Eddie Bauer International Ltd., Hong Kong.
Eddie Bauer Japan Inc., Japan.
Eddie Bauer Ltd., UK.
EDI Sourcing LLC, US.
Electinfo Ltd., UK.
EOS Aremas Belgium NV/SA, Belgium.
EOS Cyprus Ltd., Cyprus.
EOS Debita AG, Switzerland.
EOS Deutscher Inkasso-Dienst GbmH, Germany.
EOS Deutschland GmbH, Germany.
EOS Faktor Magyarorszag Zrt., Hungary.
EOS Field Services GmbH, Germany.
EOS Finance GmbH, Germany.
EOS Finance IFN SA, Romania.
EOS Finanzholding GmbH, Germany.
EOS Health Honorarmanagement
Aktiengesellschaft, Germany.
EOS Holding GmbH, Germany.
EOS Holdings (USA) Inc., US.
EOS Hong Kong Ltd., Hong Kong.
[Formerly known as EOS Solutions Asia Ltd.]
EOS Immobilienworkout GmbH, Germany.
EOS Information Services GmbH, Germany.
EOS International
Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
EOS Investment CEE GmbH, Germany.
EOS Investment GmbH, Germany.
EOS Investment Poland GmbH, Germany.
EOS IT Services GmbH, Germany.
EOS IT Services SRL, Romania.
EOS KSI Ceska Republika s.r.o., Czech
Republic.
EOS KSI Inkasso Deutschland GmbH, Germany.
EOS KSI Magyarorszag Inkasszó Kft., Hungary.
EOS KSI Polska Spolka z.o.o., Poland.
EOS KSI Romania S.R.L., Romania.
EOS KSI Slovensko s.r.o., Slovakia.
EOS KSI upravljanje terjatev d.o.o.,
Slovenia.
EOS Matrix DOO, Yugoslavia.
EOS Matrix OOD, Bulgaria.
EOS Matrix S.A., Greece.
EOS mercator inkasso GmbH, Germany.
EOS Nederland B.V., Netherlands.
EOS ÖID Inkasso-Dienst Gesellschaft m.b.H.,
Germany.
EOS Payment Solutions GmbH, Germany.
EOS Russia Holdings Ltd., Cyprus.
EOS Schweiz AG, Switzerland.
EOS Securitisation GmbH, Germany.
EOS Serviceline GmbH, Germany.
EOS SID Süddeutscher Inkasso-Dienst GmbH,
Germany.
EOS Solutions UK plc, UK.
EOS Spain S.L., Spain.
EOS Verbriefungsspezialgesellschaft mbH,
Germany.
EOS Verlegerinkasso GmbH, Germany.
Equipar SAS, France.
Erste Luxemburger
Forderungsankaufgesellschaft AG, Luxembourg.
Erste OTTO Vorrats-Verwaltungsgesellschaft
mbH, Germany.
Euromarket Designs Inc., US.
eVenture
Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
eVenture Fonds 1 GmbH & Co. KG, Germany.
Factory SAS, France.
Fashionworld GmbH, Germany.
FEGRO-Großhandelsmarkt GmbH & Co. KG,
Germany.
FEGRO-Markt Eschborn Verwaltungs GmbH,
Germany.
Frankfurter Inkasso Gesellschaft mit
beschränkter Haftung, Germany.
Frankonia Handels GmbH & Co. KG,
Germany.
Frankonia Verwaltungs GmbH, Germany.
Freemans Grattan Holdings Ltd., UK.
Freemans Home Shopping Ltd, Ireland.
Freemans International Ltd., UK.
Freemans Mail Order Ltd., UK.
Freemans of London Ltd., UK.
Freemans plc, UK.
Gesellschaft für Forderungsservice Hamburg-Fürth
GmbH, Germany.
Glances Ltd., UK.
Grattan (Leicester) Ltd., UK.
Grattan Home Shopping Ltd., UK.
Grattan International Ltd., UK.
Grattan Logistics Ltd., UK.
Grattan plc, UK.
GroupTechnologyPartner-Dresden GmbH,
Germany.
Gutes aus Klöstern Vertriebs-GmbH, Germany.
H.I.S. Textil GmbH, Germany.
Hanseatic
Versicherungs-Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
Hanseatic Versicherungsdienst GmbH
Versicherungsvermittlung, Germany.
Hansecontrol Asia Ltd., Hong Kong.
Hansecontrol Dongguan Technology Consulting
Services Ltd., China.
HCTS Hansecontrol Certification and Testing
Services Ltd., Hong Kong.
Heinrich Heine Beteiligungs GmbH, Germany.
Heinrich Heine GmbH, Germany.
Heinrich Heine Grundstücks-Beteiligungs GmbH
& Co. KG, Germany.
Heinrich Heine Handelsgesellschaft AG,
Switzerland.
Hermes Einrichtungs Service GmbH & Co.
KG, Germany.
Hermes Europe GmbH, Germany.
Hermes European Logistics Ltd., UK.
Hermes Fulfilment GmbH, Germany.
Hermes General Service Beteiligungs-Verwaltungsgesellschaft
mbH, Germany.
Hermes General Service UK Ltd., UK.
Hermes Logistik GmbH, Austria.
Hermes Logistik Gruppe Deutschland GmbH,
Germany.
Hermes Porta A Porta S.P.A., Italy.
Hermes Technischer Kundendienst GmbH,
Germany.
Hermes Touristik GmbH & Co. KG, Germany.
Hermes Transport Logistics GmbH, Germany.
Hermes-NexTec GmbH, Germany.
Hoit. Winston & Carter Inc., US.
Hopes Mail Order Ltd., UK.
Hypermarche Bon Prix SARL, France.
I.V.K. Industrie-Versicherungskontor GmbH
& Co. KG Assekuranz-Vermittlung, Germany.
ID3SI S.A., France.
Inkpool GmbH & Co. KG, Germany.
Inkpool Verwaltungsgesellschaft mbH,
Germany.
JM Bruneau Espana S.A., Spain.
JM Bruneau GmbH, Germany.
JM. Bruneau Belgium S.A., Belgium.
JM. Bruneau SNC, France.
Josef Witt Beteiligungs-Verwaltungsgesellschaft
International mbH, Germany.
Josef Witt GmbH, Germany.
Jungstil Handelsgesellschaft mbH, Germany.
K.M. Vertriebsgesellschaft GmbH, Germany.
Kaleidoscope Ltd., UK.
Kitaro Textilhandel GmbH, Germany.
Kommanditgesellschaft AM
Grundstücks-Verwaltungs GmbH & Co., Germany.
Kommanditgesellschaft EOS Holding GmbH &
Co, Germany.
Kommanditgesellschaft OTTO Austria
Grundstücksverwaltungs GmbH & Co., Germany.
Kommanditgesellschaft Schwab
Grundstücks-Verwaltungs GmbH & Co., Germany.
Kommanditgesellschaft SSU
Grundstücks-Verwaltungs GmbH & Co., Germany.
Kommanditgesellschaft Travel Overland
Flugreisen GmbH & Co., Germany.
Konrad Kleinlein GmbH, Germany.
Küche & Co GmbH, Germany.
Lascana Handelsgesellschaft mbH, Germany.
Learoyd & Calverley Ltd., UK.
Limango Dis Ticaret ve Sanal Magazacilik
Hizmetleri Ltd. Sirketi, Turkey.
Limango GmbH, Germany.
Limena Enterprises Ltd., Cyprus.
LLC EOS, Russia.
Look Again Ltd., UK.
M.K.J. Textilhandel GmbH, Germany.
Magazin Handelsgesellschaft für Einrichtungsbedarf
mbH, Germany.
Magazin Versandhandelsgesellschaft mbH,
Germany.
Manufactum Brot & Butter GmbH, Germany.
Manufactum Gastronomie GmbH, Germany.
Manufactum GmbH & Co. KG, Germany.
Martinter SAS, France.
Meadowbrook LLC, US.
Media Handelsgesellschaft mbH, Germany.
Melcosa Vietnam Ltd., Hong Kong.
Menos-Grundstücksholding GmbH, Germany.
Mercator Finance Luxembourg AG, Luxembourg.
Mezzo SAS, France.
mirapodo GmbH, Germany.
Mondial Relay SAS, France.
MTI Verwaltungs GmbH, Germany.
MTRU Beteiligungs-Verwaltungsgesellschaft
mbH, Germany.
myToys.de GmbH, Germany.
Northside Insurance Co. Ltd., Guernsey.
NR Immobilien Service GmbH, Germany.
octobo GmbH, Germany.
Office Planet GmbH, Germany.
OI (Singapore) Pte. Ltd., Singapore.
OKO Inkasso-Auskünfte GmbH & Co KG,
Austria.
Oli Ltd., UK.
OOO Business Service, Russia.
OOO Direct Catalogue Service, Russia.
OOO Dostavka Service, Russia.
OOO OTTO Group Business Development, Russia.
OOO PostService, Russia.
OOO Promopost, Russia.
Orga System SAS, France.
OTTO Austria Grundstücksverwaltungs GmbH,
Germany.
OTTO B.V., Netherlands.
OTTO Central Europe Kft., Hungary.
OTTO Designhouse GmbH, Germany.
OTTO Finance
Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
OTTO Finance Cyprus Ltd., Cyprus.
OTTO Finance Luxembourg AG, Luxembourg.
OTTO Finanzplus GmbH
Versicherungsvermittlung, Germany.
OTTO Freizeit und Touristik GmbH, Germany.
OTTO International (USA) LLC, US.
OTTO International Holdings (USA)
Corporation, US.
OTTO Japan Inc., Japan.
OTTO Office (BE) S.A., Belgium .
OTTO Office (CZ) s.r.o., Czech Republic.
OTTO Office (SK) s.r.o., Slovakia.
OTTO Office Beteiligungsverwaltungs-GmbH,
Germany.
OTTO Office France, France.
OTTO Office GmbH & Co KG, Germany.
OTTO Operativ Beteiligungs- und Verwaltungsgesellschaft
mbH, Germany.
OTTO Personal Systeme GmbH, Germany.
OTTO/Agn International Ltd., Hong Kong.
OTTO-Asia Beteiligungs-Verwaltungs GmbH,
Germany.
OTTO-Cheer
Beteiligungs-Verwaltungsgesellschaft mbH, Germany.
OTTO-Europe Beteiligungs-Verwaltungs GmbH,
Germany.
OVC Venture Capital GmbH, Germany.
Pace Financial Services Inc, US.
Parcelnet Ltd., UK.
Provista Siebenhundertdreiundsiebzigste
Verwaltungsgesellschaft mbH, Germany.
Prüfinstitut Hansecontrol GmbH, Germany.
Quelle GmbH, Germany.
Rainbow Home Shopping Ltd., UK.
Rainbow Versandhandelsgesellschaft mbH,
Germany.
RatePAY GmbH, Germany.
Receivable Resources Inc., US.
Reiseland GmbH, Germany.
Reiseland GmbH & Co. KG, Germany.
Reiseland Meißner OHG, Germany.
Reiseland Reisebüro GmbH, Germany.
Reiseland Weise OHG, Germany.
Resolve Debt Management Ltd., UK.
S.C.I. Oise Picardie, France.
S.K.L. Ltd., UK.
Saint Brice S.A., Belgium.
Schwab Grundstücks-Verwaltungs GmbH,
Germany.
Schwab Versand GmbH, Germany.
Scoops (Bradford) Ltd., UK.
Scotcade Ltd., UK.
Scotmail Ltd., UK.
Senior & Cie SAS, France.
Sensible Shopping Ltd., UK.
Servicenet Ltd., UK.
shopping 24 Gesellschaft für multimediale
Anwendungen mbH, Germany.
Sieh an! Handelsgesellschaft mbH, Germany.
Société Civile Epinoy, France.
Software Partner Obermain GmbH, Germany.
Soparsuis S.C. a capital variable, France.
SportScheck GmbH, Germany.
Streets of London (Fashion) Ltd., UK.
Systain Consulting GmbH, Germany.
Texplant Corporation Ltd., UK.
Textile Du Glategnies S.A., Belgium.
The Book Fashion Ltd., UK.
Together Ltd., UK.
Trokers S.A., France.
True North AR India Pvt. Ltd., India.
True North AR LLC, US.
TT-Service und Beteiligungs-Verwaltungs
GmbH, Germany.
Twenty1 ApS, Denmark.
Unito Beteiligungs GmbH, Austria.
Unito Versand & Dienstleistungen GmbH,
Austria.
VAD Holding S.A., France.
Venta Catalogo S.A., Spain.
Venus Fashion Inc., US.
Verwaltung I.V.K.
Industrie-Versicherungskontor GmbH Assekuranz-Vermittlung, Germany.
Verwaltungsgesellschaft baumarkt direkt mbH,
Germany.
Verwaltungsgesellschaft Baur Versand mbH,
Germany.
Verwaltungsgesellschaft Hermes Einrichtungs
Service mbH, Germany.
Verwaltungsgesellschaft Hermes Touristik
mbH, Germany.
Verwaltungsgesellschaft Manufactum mbH,
Germany.
Verwaltungsgesellschaft OTTO Office GmbH,
Germany.
Verwaltungsgesellschaft Reiseland mbH,
Germany.
Verwaltungsgesellschaft Travel Overland
Flugreisen mbH, Germany.
VPC Portugal Vendas Por Correspondencia
Lda., Portugal.
WCF Finetrading GmbH, Germany.
Witt (UK) Ltd., UK.
WW Witt-Weiden Grundstücks-Verwaltungs GmbH
& Co KG, Germany.
XPL SAS, France.
xplosion interactive GmbH, Germany.
You & Yours Ltd., UK.
YourSchoolUniform.com Ltd, UK.
Zahnärztekasse AG, Switzerland.
ZAO Mail Order Service, Russia.
Zweite Hermes TranStore Service GmbH & Co.
KG, Germany.
Zweite Hermes TranStore Service
Verwaltungsgesellschaft mbH, Germany. etc.
06600202
0077803
Managing Director: Mr.
Michael Dumke
Contact Person: Mr.
Gaelmann Diethard
Nominal Share Capital: HK$20,000,000.00 (Divided into 20,000,000
shares of HK$1.00 each)
Issued Share Capital: HK$20,000,000.00
(As per registry dated 25-01-2014)
|
Name |
|
No.
of shares |
|
OTTO International GmbH Wandsbeker Strasse 3-7, 22172 Hamburg,
Germany. |
|
20,000,000 ======== |
(As per registry dated 01-02-2014)
|
Name (Nationality) |
Address |
|
Paul Wilhelmus NIJHOF |
Raalterweg 29, 7451 KZ Holten,
Netherlands. |
|
Hanjo Kurt SCHNEIDER |
Volksdorfer Weg 173a, 22393 Hamburg,
Germany. |
|
Hans-Joachim MUNDT |
Wellingsbuttler Weg 97, 22391 Hamburg,
Germany. |
|
Michael DUMKE |
33 Tai Tam Road, The Manhattan 5J, Tai
Tam, Hong Kong. |
(As per registry dated 25-01-2014)
|
Name |
Address |
Co.
No. |
|
Consec Services Ltd. |
6/F., Alexandra House, 18 Chater Road,
Central, Hong Kong. |
0024925 |
The subject was incorporated on 25th
January, 1980 as a private limited liability company under the Hong Kong
Companies Ordinance.
Originally the subject was registered under
the name of Blaydon Investment Ltd., name changed to OTTO Versand International
Ltd. on 14th September, 1984, and further to the present style on 11th June,
1991.
Formerly the subject was located at Room
930, 9/F., Ocean Centre, Harbour City, 5 Canton Road, Tsimshatsui, Kowloon,
Hong Kong, moved to the present address in November 2003.
Apart from these, neither material change
nor amendment has been ever traced and noted.
Activities: Importer
and Re-exporter, Mail Order Firm.
Lines: Textile
products, electronic products and other consumer products.
Trade Mark: OTTO.
Office Area:
30,000 sq.ft. in
Hong Kong.
Employees: 50.
Commodities Imported: Mainly imported from Europe and Asia Pacific region.
Markets: Worldwide.
Group Revenue: €10,132.0 million
(Year ended 28-02-2010)
€11,403.9
million (Year ended 28-02-2011)
€11,596.6
million (Year ended 29-02-2012)
€11,784.2
million (Year ended 28-02-2013)
€12,001.0
million (Year ended 28-02-2014)
Terms/Sales:
As per contracted.
Terms/Buying: Various
terms.
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKO0039]
Nominal Share Capital: HK$20,000,000.00 (Divided into
20,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$20,000,000.00
Group Net Profit: €211.0 million
(Year ended 28-02-2010)
€181.1
million (Year ended 28-02-2011)
€ 22.9 million
(Year ended 29-02-2012)
€145.5 million (Year ended 28-02-2013) [restated]
€179.3
million (Year ended 28-02-2014)
Profit or Loss: Business is profitable.
Condition: Keeping
in a satisfactory state.
Facilities: Making
active use of general banking facilities.
Payment:
Met
as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing:
Very
Good.
OTTO International (Hong Kong) Ltd. is a
private limited company wholly‑owned by OTTO International GmbH [OTTO
International] which is a Germany-based firm.
In turn, the holding company of OTTO International is OTTO (GmbH &
Co. KG) [OTTO Group].
The subject is the management and service
and finance holding arm in the Asia Pacific for OTTO International buying
offices and associated companies.
Currently, the subject is handling the following commodities: audio
products (general), audio tapes, video tapes, cameras, games/premiums, electronic
toys, consumer electronics, etc.
The OTTO Group’s activities are structured
into three business segments – Multichannel Retail, Financial Services, and
Services. OTTO Group is now one of the
leading internationally active trading and services groups, comprising about
123 companies. In FY 13/14, the Group
had 54,257 employees in 19 countries.
The OTTO Group is a global network in which
the separate activities of retail sales, financial services, other services and
wholesale trading are optimally coordinated in the interest of better serving
our customers. Today’s OTTO Group
encompasses a large number of companies operating in the major economic zones
of the world. All these companies are
linked by the common activity of trading and related services, in their
different product lines, target groups and distribution channels. The main ingredient of the self-image of all
the OTTO Group companies is a joint passion for success. This self-image is reflected in the corporate
vision of OTTO Group.
The Group has three segments:
The Multichannel Retail segment is
the core of the Group’s business. It
comprises the Otto Group’s domestic and foreign companies that offer their
products via the three distribution channels of e-commerce, catalogue business,
and over-the-counter retail. The product
range includes fashion, shoes and lifestyle products, furniture and home
accessories, toys and also consumer electronics, sports and leisure products. Online business has become the most important
sales channel for the Group.
In Europe, the Otto Group is the largest
online fashion and lifestyle retailer and the second largest online retailer in
the end-consumer business (B2C) worldwide.
The Financial Services segment
comprises the Otto Group’s offers of international financial services such as
receivables, information and liquidity management as well as payment
services. The internationally active EOS
Group has a major influence on this segment and, with its numerous companies,
offers a broad portfolio of retail-related services with an emphasis on receivables
management.
The Services segment comprises the Otto
Group’s logistics and sourcing companies.
They render their services both to the Otto Group’s Multichannel Retail
segment and also to customers outside the Group. The companies under the Hermes umbrella brand
offer all services along the logistics value chain – from procurement, through
quality testing, transport, warehousing up to delivery to private and business
customers – and thus characterise the image of the segment.
OTTO Group is a significant mail order firm
of the world. It sells products ranging
from clothing to appliances to sporting goods.
OTTO Group also owns a majority stake in the Crate & Barrel housewares
chain, and it owns travel agencies in Germany.
OTTO Group controls Actebis Holding, which distributes computers in
Europe. OTTO Group does about 90% of its
business in Europe, Japan, and the United States. The family of chairman Michael Otto owns the
majority of OTTO Group and separately controls US catalogue company Spiegel.
Otto Group consolidated sales revenues
increased by €216.8 million (+1.6 %) from €11,784.2 million to €12,001.0
million in the 2013/14 financial year.
Expectations of the business development of
the Otto Group depend in no small part on the further development of the world
economy and the financial sector environment.
The outlook for economic conditions not only in Germany as the Group’s
main sales market but also the remaining Euro area countries as well as the US,
as further key sales markets, is set to have a supporting effect on the
development of the Otto Group in the forecast period of 2014/15. However, in the developing countries that are
significant for the Group, such as Russia and Brazil, slackening growth and the
noticeable headwind from the financial markets are burdening development.
The subject is fully supported by its
holding company and ultimate holding company.
History in Hong Kong is over thirty-four years.
On the whole, in view of the parentage of the
subject, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
UK Pound |
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SDA |
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.