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Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
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Name : |
BERGNER
(HK) LTD. |
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Registered Office : |
6/F., Manhattan Place, 23 Wang Tai Road, Kowloon Bay,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.03.2004 |
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Com. Reg. No.: |
34409018 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· subject is a buying office trading in stainless steel, home electric appliances, porcelain & glassware Importer, Exporter and Wholesaler of Cooking utensils,
knives, kettles, other kitchenware, electric appliances & medical devices |
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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 |
|
|
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 – 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 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
BERGNER (HK) LTD.
6/F., Manhattan Place, 23 Wang Tai Road, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 852-2810 9011, 3155 7037
FAX: 852-2810 9022, 2810 5133
E-MAIL: info@bergner.com.hk
Managing Director: Mr. Umesh Ramchandra Gupta
Incorporated on: 1st March, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$10,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 20.
Main Dealing Banker: DBS Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
6/F., Manhattan Place, 23 Wang Tai Road, Kowloon Bay, Kowloon, Hong Kong.
China Representative Offices:-
Guangzhou Representative
Office
Room 1707, Exchange Square, 268 Dongfeng Zhong Road, Guangzhou 510030,
Guangdong Province, China.
Tel: 86-20-8317 9617/8317 9561
Fax: 86-20-8317 9081
Chaozhou
Representative Office
Room 1601, Block 27, Lin Hai Ming Zhu Hua Yuan, Chao Zhou Road, Chaozhou
521000, Guangdong Province, China.
Tel: 86-0768-2803236/2803943
Fax: 86-0768-2803227
Associated Companies:-
Bergner (RUS) Ltd., Russia.
Bergner DOO, Serbia.
Bergner Europe GmbH, Germany.
Bergner Impex India Private Ltd., India.
Bergner Ukraine, Ukraine.
34409018
0885555
Chairman: Mr. Janek Davitashvili
Managing Director: Mr. Umesh Ramchandra Gupta
Contact Person: Mr. Geoffrey Ng
Nominal Share Capital: HK$10,000,000.00 (Divided into 100,000 shares of HK$100.00 each)
Issued Share Capital: HK$10,000,000.00
(As per registry
dated 01-03-2013)
|
Name |
|
No. of shares |
|
Janek DAVITASHVILI |
|
95,000 |
|
Umesh Ramchandra GUPTA |
|
5,000 |
|
|
|
––––––– |
|
|
Total: |
100,000 ====== |
(As per registry
dated 01-03-2013)
|
Name (Nationality) |
Address |
|
Janek DANVITASHVILI |
Flat B, 29/F., Tower 5, Bel-Air On The Peak, Island South, 68 Bel-Air Peak Avenue, Hong Kong. |
|
Umesh Ramchandra GUPTA |
Flat B, 20/F., Block 1, Scenic Garden, 9 Kotewall Road, Hong Kong. |
(As per registry
dated 01-03-2013)
|
Name |
Address |
Co.
No. |
|
Citizen’s Secretarial Services Ltd. |
14/F., Shanghai Industrial Investment Building, 48 Hennessy Road, Wanchai, Hong Kong. |
0032891 |
The subject was incorporated on 1st March, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 3203C-3206, 32/F., The Centrium, 60 Wyndham Street, Central, Hong Kong, moved to the present address with effect from 7th June, 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Cooking utensils, knives, kettles, other kitchenware, electric appliances & medical
devices
Brand Name: Bergner, Kaiserhoff, Avilla.
Employees: 20.
Commodities Imported: China, other Asian countries, etc.
Markets: Eastern Europe, South America, Australia, Scandinavia, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, D/P, O/A, etc.
Nominal Share Capital: HK$10,000,000.00 (Divided into 100,000 shares of HK$100.00 each)
Issued Share Capital: HK$10,000,000.00
Mortgage or Charge
(since 2009): (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
· DBS Bank (Hong Kong) Ltd., Hong Kong.
Bank
of India, Hong Kong Branch.
Bank
of Baroda, Hong Kong Branch.
Union
Bank of India, Hong Kong Branch.
Standing: Normal.
Having issued 100,000 ordinary shares of HK$100.00 each, Bergner (HK) Ltd. is jointly owned by Mr. Janek Davitashvili, holding 95% interests; and Mr. Umesh Ramchandra Gupta, holding 5%. They are also directors of the subject. The former is also the Chairman of the subject.
The subject is a buying office trading in stainless steel, home electric appliances, porcelain & glassware. It originated from Austria. The subject has been an established provider of kitchenware and various other household items for more than 10 years. It has gone from exclusively marketing to developing its own brands, which are carried by all major European retailers today.
Over the years, the subject has added many products to its portfolio and has earned a reputation as a “Can Do” company. It is an aggressive global consumer products company that designs, manufactures, and markets, nationally and internationally. It has strived to provide the “best consumer products” under recognized brands “BERGNER”. Its products also bears the following brand names: Kaiserhoff, Avilla.
It is trading in
the following commodities:-
· Advertising Premium;
Ashtrays
and Smokers’ Accessories;
Bar
Accessories;
Consumer
Electronics (Misc.);
Cookware,
Cutlery & Flatware;
Household
Products - Glass;
Household
Products - Metal;
Household
Products - Misc;
Household
Products - Plastic;
Household
Products - Silicon;
Household
Products - Wooden;
Kitchen
Utensils - Metal;
Kitchen
Utensils - Misc;
Kitchen
Utensils - Plastic;
Kitchen
Utensils - Wooden;
Tableware
- Glass;
Tableware
- Metal;
Tableware
- Misc;
Tableware
- Plastic;
Tableware
- Porcelain/Ceramic/Stone;
Tableware
- Wooden;
Toiletries
& Personal Care Products; &
Vacuum
Flasks.
Bergner began in 1995, when Austrian based young businessman, currently the chairman of Bergner, became one of the leading players on the markets of kitchenware products in Western and Eastern Europe. In the year of 2004, guided by the latest trends and industry dynamic of kitchenware products, Bergner moved to Hong Kong.
According to the subject, it has had corporate offices in various locations of Asia use basis for solid buying structure that includes advanced R&D department, efficient QC system, in-house design team and market analysis department, in charge of cooperation with strategic partners in Austria, Hungary, Poland, Czech and Slovak Republics, Bulgaria, Serbia and Montenegro, Russia, Ukraine, Brazil, India, Australia and other countries.
Bergner currently has had manufacturing facilities in China, Italy and Thailand. In recent years, Bergner India has been trying to set up a manufacturing unit in Gujara, India. It is planning to establish the facility at Dahej near Bharuch. The decision to open facility in India is driven by high growth potential for kitchenware in the country. The location for the proposed facility offers several potential benefits to the company, least among which is the fact that it is easier to ship products to the European market from Bharuch.
Bergner’s products are currently produced by firms in South India. Bergner offers four brands in India currently, including Kaiserhoff, the company’s largest selling brand.
The subject’s business is steady as regular suppliers and customers have been maintained in Eastern Europe and South America.
Mr. Michaely Michael is the Executive Vice President.
The subject’s contact person Mr. Geoffrey Ng is a Hongkongnese.
The history of the subject in Hong Kong is over nine years.
On the whole, consider it good for normal business engagements.
(Since 2009)
|
Date |
Particulars |
Amount |
|
18-08-2009 |
Instrument: Memorandum Property: Distinctive 91210300003292 05-08-2009 US$1,365,618.20 05-11-2009 Mortgagee: Bank of Baroda, Hong Kong Branch. |
Loan or credit or other facilities |
|
31-08-2010 |
Instrument: Memorandum Property: Distinctive 91210300004272 05-08-2010 US$1,906,225.08 05-11-2010 Mortgagee: Bank of Baroda, Hong Kong Branch. |
Loan or credit or other facilities |
|
15-11-2010 |
Instrument: Letter of Set-off and Appropriation Property: Deal No. Date Amount Due Date 165602 03-09-2010 US$339,082.73 03-12-2010 Mortgagee: Bank of India, Hong Kong Branch. |
Advances and other banking facilities |
|
08-03-2011 |
Instrument: Charge on Deposit Property: A sum of US$1,285,000 currently represented or evidenced by a certificate of deposit dated 07-03-2011 bearing number 000013010000603 Mortgagee: Union Bank of India, Hong Kong Branch. |
All moneys |
|
05-09-2011 |
Instrument: Undertaking Relating To Deposits Property: Receipt
No.: FD 104 Mortgagee: Canara Bank, Hong Kong Branch. |
Liabilities |
|
17-10-2011 |
Instrument: Letter of Set-off and Appropriation Property: Deal No. Date Amount Due Date 171931 09-08-2011 US$778,193.73 09-11-2011 173257 17.10.2011 US$1,150,000.00 09-11-2011 Mortgagee: Bank of India, Hong Kong Branch. |
Advances and other banking facilities |
|
28-09-2012 |
Instrument: Charge on Deposit Property: A sum of US$5,050,001 currently represented or evidenced by a certificate of deposit dated 28-09-2012 bearing number 0000130010000853 Mortgagee: Union Bank of India, Hong Kong Branch. |
All moneys |
|
10-01-2013 |
Instrument: Letter of Set-Off & Appropriation Property: Deal No. Date Amount Due Date 181690 10-01-2013 US$485,000.00 10-01-2014 Mortgagee: Bank of India, Hong Kong Branch. |
Advances and other banking facilities granted to the company from time to time |
|
30-09-2013 |
Instrument: Undertaking Relating to Deposits Property: Rate
of Maturity FD 114 27-09-2013 702,000 0.63% 18-09-2014 Mortgagee: Canara Bank, Hong Kong Branch. |
All and any liabilities, sole or joint, actual or contingent, quantified or not, now or hereafter owing or incurred to the Bank by the depositor or the Third Party |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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.