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Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MICRO-PAK LTD. |
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Registered Office : |
Suite 2504-2505, 25/F., Tower 6, The Gateway Harbour City, 9 Canton
Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.07.1998 |
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Com. Reg. No.: |
21859971 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Micro-Pak® Enhanced Packaging Stickers
and Micro-Pak PE® Sheets. |
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No of Employees : |
8 |
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 |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
MICRO-PAK LTD.
ADDRESS: Suite 2504-2505, 25/F., Tower
6, The Gateway Harbour City, 9 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2956
2991
FAX: 852-2956
0790
E-MAIL: info@micropakltd.com
Managing Director: Mr. Martin Berman
Incorporated on: 20th July, 1998.
Organization: Private Limited Company.
Paid Up Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 8.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
MICRO-PAK LTD.
Registered Head
Office:-
Suite 2504-2505, 25/F., Tower 6, The Gateway Harbour City, 9 Canton
Road, Tsimshatsui, Kowloon, Hong Kong.
Holding Company:-
Micro-Pak Worldwide GmbH, Switzerland.
Associated
Companies:-
Micro-Pak Europe, BV, Netherlands.
Micro-Pak Trading (Shenzhen) Ltd., China.
Micro-Pak USA Inc., US.
21859971
0650248
Managing Director: Mr. Martin
Berman
HK$10,000.00
(As per registry dated 20-07-2014)
|
Name |
|
No. of shares |
|
Micro-Pak Worldwide GmbH Poststrasse 17, 9001 St. Gallen, Switzerland. |
|
10,000 ===== |
(As per registry dated 20-07-2014)
|
Name (Nationality) |
Address |
|
Jessica Jeanette BERMAN |
Flat A, 24/F., Villa Veneto, 3 Kotewall Road, Hong Kong. |
|
Else Mavis BERMAN |
Flat A, 24/F., Villa Veneto, 3 Kotewall Road, Hong Kong. |
|
Jacob Charles BERMAN |
Flat A, 24/F., Villa Veneto, 3 Kotewall Road, Hong Kong. |
|
Martin BERMAN |
Flat A, 24/F., Villa Veneto, 3 Kotewall Road, Hong Kong. |
Martin BERMAN (As per registry
dated 20-07-2014)
The subject was incorporated on 20th July, 1998 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Micro-Pak®
Enhanced Packaging Stickers and Micro-Pak PE® Sheets.
Trade Mark: Micro-Pak®
Employees: 8.
Commodities Imported: China,
Europe, etc.
Markets: Asian
countries, North America, Europe, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Paid Up Capital: HK$10,000.00
Mortgage or Charge:-
Date of Security Over Deposits with the Bank (Limited Company – Under
Seal): 05-03-2001
Amount: To secure
general banking facilities
Property: HK$100,000 and
any further sums hereafter standing to the credit of the Co’s A/C No.:
491-243077
Mortgagee: The
Hong Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
manner.
Facilities: Making rather active use of
general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hong Kong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
Micro-Pak Ltd. is a wholly-owned subsidiary of Micro-Pak Worldwide GmbH
which is a Switzerland based company.
The subject is the worldwide exclusive distributor of Micro-Pak®
Enhanced Packaging Stickers and Micro-Pak PE® Sheets.
Micro-Pak® Enhanced Packaging is superior to all alternative methods for
keeping products clean and fresh.
The subject was founded in 1998 and is now a leading supplier of
packaging material for the shoe, apparel, bag and accessories industries. Micro-Pak® products are extremely effective
while still being safe for workers and consumers and since the start of the
subject.
Micro-Pak® Stickers have gone into more than two billion pair of shoes,
garments, bags and accessories.
Micro-Pak® products follow the restricted substance policies of major
retailers and brands in both the US and Europe.
In addition to offering a safe and effective products, the subject is
the only company in this field to offer extensive technical support to the
factories including seminars on mold prevention as well as on-site factory
analysis. The subject has a well experienced
technical team with decades of production experience and can provide advice and
support from its China office or through its international network of
distributors.
Micro-Pak® products are produced in specialized, exclusive manufacturing
facilities under strict quality control procedures. Micro-Pak® products are distributed by the
subject as well as through its international network of authorized
distributors.
Now, the subject’s authorized distributors are in the United States, the
Netherlands, China, Taiwan, Vietnam, Indonesia, India, Pakistan, Mexico,
Bangladesh, South America, North Africa, Italy, Portugal, Romania, South Korea.
The business of the subject is handled by the Berman family. The family members are Hong Kong ID holders
and have got the right to reside in Hong Kong permanently.
As the history of the subject is over 16 years and three months in Hong
Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.23 |
|
|
1 |
Rs.98.53 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.