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Report No. : |
355667 |
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Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
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Name : |
RUDHOLM & HAAK (H.K.) LTD. |
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|
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Registered Office : |
25/F.,
Tower B, Regent Centre, 70 Ta Chuen Ping Street, Kwai Chung, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.01.2000 |
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Com. Reg. No.: |
30661953 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, wholesaler and re-exporter of all
kinds of clothing accessories such as thread, interlining, fabrics, button,
zipper |
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No. of Employee : |
25 |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
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 12.5% of total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
RUDHOLM &
HAAK (H.K.) LTD.
ADDRESS: 25/F., Tower B, Regent Centre, 70 Ta
Chuen Ping Street, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2426 1782
FAX: 852-2426 2782
E-MAIL: florenceyip@rudholm.com.hk
MANAGEMENT:
Group Managing Director: Mr. Borje Jonas Haglund
Incorporated on: 24th
January, 2000.
Organization:
Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Trading in clothing accessories.
Employees:
25.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: New
account.
Registered Head Office:-
Unit 1109, Tower A, Regent Centre, 63 Wo Yi
Hop Road, Kwai Chung, New Territories, Hong Kong.
Headquarters:-
Rudholm & Haak AB
Box 1103, SE 501, 11 borås, Besöksadress
Företagsgatan 34, Sweden.
[Tel: 033-231110; Fax: 033-257788]
Holding Company:-
Rudholm Group Holding AB
Box 1103, SE 501, 11 borås, Besöksadress
Företagsgatan 34, Sweden.
Associated Companies:-
Jonvoll I Boras AB, Sweden.
Rudholm & Haak (Pvt.) Ltd., Sri Lanka.
Rudholm & Haak (Shanghai) Ltd., China.
Rudholm & Haak India Pvt. Ltd., India.
Rudholm & Haak Vietnam Ltd., Vietnam.
Rudholm Bangladesh Ltd., Bangladesh.
Rudholm Eesti AS, Estonia.
Rudholm Tekstil Aksesuarl San Tic Ltd.
Sti., Turkey.
Rudholm UAB, Lithuania.
Rudholm UK Ltd., UK.
Rudholm USA LLC, US.
30661953
0702134
Group Managing Director: Mr. Borje Jonas Haglund
Secretary:
Ms. Yip Hiu Tung
Contact Person: Ms. Carmen Chui
HK$10,000.00
(As per registry dated 24-01-2015)
|
Name |
Occupation |
No. of shares |
|
Rudholm Group Holding AB Box 1103, SE 501, 11 borås,
Besöksadress Företagsgatan 34, Sweden. |
Corporation |
9,900 |
|
Borje Jonas HAGLUND |
Merchant |
100 |
|
|
|
–––––– |
|
|
Total: |
10,000 ===== |
(As per registry dated 24-01-2015)
|
Name (Nationality) |
Address |
|
Borje Jonas HAGLUND |
Hybergsv. 14, 507 32 Bramhult, Sweden. |
|
Rolf Jonas Valdemar WOLLIN |
Skyttegatan 10, 504 57 Boras, Sweden. |
(As per registry dated 24-01-2015)
|
Name |
Address |
|
YIP Hiu Tung |
Unit 2502-06, 25/F., Tower B, Regent Centre,
70 Ta Chuen Ping Street, Kwai Chung, New Territories, Hong Kong. |
HISTORY:
The subject was incorporated on 24th January,
2000 as a private limited liability company under the Hong Kong Companies
Ordinance.
Formerly the subject was located at ‘Unit 1109,
11/F., Tower A, Regent Centre, 63 Wo Yi Hop Road, Kwai Chung,
New Territories, Hong Kong’.
It moved to the present address in September 2015.
Apart from these, neither material change nor
amendment has been ever traced and noted.
Activities: Importer,
Wholesaler and Re-exporter.
Lines: All
kinds of clothing accessories such as thread, interlining, fabrics, button,
zipper.
Brand Names: FUFNER,
MADERA, AMANN, SALMI.
Employees: 25.
Commodities Imported: China, other Asian countries.
Main Market:
Europe, North America, Southeast
Asia
Terms/Sales:
As per contracted.
Terms/Buying:
Various terms.
Issued Share Capital: HK$10,000.00
Profit & Loss: Making a small profit every year.
Condition:
Business is
normal.
Facilities:
Making active
use of general banking facilities.
Payment:
No
complaints
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Good.
Rudholm & Haak (H.K.) Ltd. is a private
limited company which is wholly-owned by Rudholm Group Holding AB, a
Sweden-based company.
The subject belongs to the Rudholm Group.
The subject is dealing in clothing
accessories such as thread, interlining, fabrics, button, zipper.
The Rudholm Group has been producing garment
accessories for the fashion & workwear industry since 1951, evolving from a
family business to a global company with offices all around the world.
The Group is a recognised leader in garment
enhancement, bringing commitment and expertise to its extensive range of high
quality products.
The Group produces a large range of garment
accessories from: Labels, Badges, Buttons, Rivets, Snaps, Zippers, Hang Tags,
Tapes, Variable Data Labels. Products
are marketed throughout the world.
The Rudholm Group is now able to directly
support customers with their barcode & washcare variable data requirements,
which is coordinated by its global network of offices using the ‘goldengate
platform’.
Now, the Group has set up association
companies in the following countries: Bangladesh, China, Denmark, Estonia,
Finland, Germany, India, Lithuania, Sri Lanka, Sweden, Turkey, Ukraine, the
United Kingdom, the United States, Vietnam.
The Group Managing Director Mr. Borje Jonas
Haglund who is Swedish. The subject’s
business is handled by Ms. Carmen Chui.
The subject is fully supported by The Rudholm
Group, history in Hong Kong is about 16 years.
On the whole, the subject is considered good
for normal credit requirements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
HKD |
1 |
Rs.8.52 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
|
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 |
|
<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.