|
Report No. : |
355670 |
|
Report Date : |
28.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
S. OLIVER ASIA LTD. |
|
|
|
|
Registered Office : |
27/F., OCTA Tower, 8 Lam Chak Street, Kowloon Bay, Kowloon |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
09.10.2002 |
|
|
|
|
Com. Reg. No.: |
33038402 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of All kinds of Fashion Labels. |
|
|
|
|
No. of Employees : |
30 |
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 : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
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 12.5% 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 |
S. OLIVER ASIA LTD.
ADDRESS: 27/F., OCTA Tower, 8
Lam Chak Street, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 852-2173 2100
MANAGEMENT:
Managing Director: Mr. Juergen
Michael Mahn
Incorporated on: 9th October, 2002.
Organization: Private Limited Company.
Issued Share Capital: HK$100,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 30.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory,
S. OLIVER ASIA LTD.
Registered Head
Office:-
27/F., OCTA Tower, 8 Lam Chak Street, Kowloon Bay, Kowloon,
Hong Kong.
Holding Company:-
Texlog GmbH, Germany.
Associated
Companies:-
Comma GmbH, Germany.
Liebeskind Berlin GmbH, Germany.
s. Oliver Bernd Freier GmbH & Co. KG, Germany.
s. Oliver Bernd Freier SARL, Luxembourg.
s. Oliver Overseas Ltd., Hong Kong. (Same address)
Yau Kam Asia Ltd., Hong Kong. (Same address)
33038402
0817182
Managing Director: Mr. Juergen
Michael Mahn
HK$100,000.00
(As per registry dated 09-10-2015)
|
Name |
|
No. of shares |
|
Texlog GmbH s. Oliver StraBe 1, 97228 Rottendorf, Germany. |
|
100,000 ====== |
(As per registry dated 09-10-2015)
|
Name (Nationality) |
Address |
|
Christine Renate SCHUMM |
Keesburgstr. 36, 97074 Wurzburg, Germany. |
|
Juergen Michael MAHN |
G/F., House No. 251, Sheung Sze Wan, Clear Water Bay Road, Hong Kong. |
|
Adam Thomas George WARNETT |
Broennerstrasse 23, 60313 Frankfurt, Germany. |
|
Bernd Otto Richard FREIER |
s. Oliver-StraBe 1, 97228 Rottendorf, Germany. |
|
Susanne HECKELSBERGER |
Kauzenhecke 28, 70597 Stuttgart, Germany. |
|
Andreas BAUR |
Steinbachtal 6, 97082 Wurzburg, Germany. |
|
Armin FICHTEL |
Mozartstr. 20, 41061 Monchengladbach, Germany. |
|
YUEN Lai Ming, Stella |
Flat B, 12/F., Block 10, Villa Athena, Ma On Shan, New Territories,
Hong Kong. |
(As per registry dated 09-10-2015)
|
Name |
Address |
Co. No. |
|
Taigun Ltd. |
Flat B, 7/F., Shing Hing Commercial Building, |
0037444 |
The subject was incorporated on 9th October, 2002 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Far East City
Ltd., name changed to S.O.T. Asia Ltd. on 19th May, 2003 and further to the
present style on 15th October, 2005.
Apart from these, neither material change nor amendment has been ever traced
and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of fashion labels.
Employees: 30.
Commodities Imported: China, other
Asian countries, Europe.
Markets: Asian
countries, Europe, North America, Central & South America.
Terms/Sales: L/C, T/T.
Terms/Buying: L/C, T/T, D/P.
Issued Share Capital: HK$100,000.00
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: No Complaints.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Good.
s. Oliver Asia Ltd. is a wholly-owned subsidiary of Texlog GmbH which is
a Germany-based company.
The subject belongs to the s.Oliver Group.
From a single retail store to one of the largest international fashion
and lifestyle companies, the Group has become from a small brand named “Sir
Oliver” to a large brand family comprising the labels s.Oliver, s.Oliver DENIM,
s.Oliver PREMIUM, TRIANGLE, comma and LIEBESKIND Berlin.
Since 1969 s.Oliver has grown from year to year.
The production facilities of the Group are mainly located in Asia,
Western and Western Europe. About 25 to
30% of its products are exported to worldwide countries.
Its international markets include the following countries:
Armenia, Belgium, Bulgaria, Denmark, Finland, France, Greece, Hungary, India,
Indonesia, Italy, Canada, Kazakhstan, Croatia, Latvia, Lebanon, Lithuania,
Mongolia, The Netherlands, Northern Ireland, Austria, Russia, Switzerland,
Slovakia, Slovenia, Spain, Czech Republic, Belarus, United Arab Emirates,
Ukraine, Uzbekistan, Estonia.
The following products are carried by the Group:
Shoes, Socks, Eyewear, Time, Jewel, Bed, Bath, Fragrances, Umbrellas,
Garden, Baby Products.
The s.Oliver Group, which was founded by Bernd Freier in 1969, grew into
one of Europe’s leading fashion companies within just a few decades. In 2014, the group achieved a brand turnover
of EUR 1.62 billion and employed about 7,600 people all over the world. In addition to the above-mentioned brands,
the company’s portfolio also includes comma and Liebeskind Berlin.
s.Oliver has joined the “Partnership for Sustainable Textiles”, an
initiation by the Federal Ministry for Economic Cooperation and
Development. It was founded in October
2014 at the initiative of the German Development Minister Dr. Gerd Müller in
order to permanently improve social and ecological conditions in supplier
countries.
The subject is fully supported by its parent company. History in Hong Kong is over thirteen years
and two months.
On the whole, consider the subject good for normal business engagements.
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.8.54 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
AMR |
|
|
|
|
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 |
|
|
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.