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Report No. : |
305688 |
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Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
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Name : |
IMC TOYS
HONG KONG LTD. |
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Formerly Known as : |
Imcadisa Hong Kong
Ltd |
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Registered Office : |
Room 805B-808B1, 8/F., Empire Centre, 68 Mody Road, Tsim Sha Tsui East, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.06.2000 |
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Com. Reg. No.: |
31103851 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds
of toys including electronic games & toys, musical products, wireless
remote control toys, plastic toys & walkie-talkie |
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No of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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% 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.
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Source
: CIA |
IMC TOYS
HONG KONG LTD.
Room 805B-808B1, 8/F., Empire Centre, 68 Mody Road, Tsim Sha Tsui East, Kowloon, Hong Kong.
PHONE: 852-3107 2020
FAX: 852-3107 0707
E-MAIL: info@imc-hk.net
Chief Executive Officer: Mr. Antonio Bellido Quesada
Incorporated on: 28th June, 2000.
Organization: Private Limited Company.
Issued Share Capital: HK$7,362,000.00
Business Category: Toy Trader.
Group Annual Turnover: Over HK$400 million.
Employees: 30.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 805B-808B1, 8/F., Empire Centre, 68 Mody Road, Tsim Sha Tsui East, Kowloon, Hong Kong.
China
Representative Office:-
IMC Toys HK China
15/F., Dongguan Railway Station, Lianjian (Customhouse) Building, 11th Kou An Avenue, Changping Town, Dongguan City, Guangdong Province, China.
Holding Company:-
IMC Toys Sociedad Anonima
Pare Llaurador 172, 08224 Terrassa, Barcelona, Spain.
[Tel: 34-93-788 8512; 34-93-788 8992
Fax: 34-93-788 6889; 34-93-733 2833
E-mail: info@imc.es]
Associated
Companies:
IMC Toys Group of Companies
IMC Dicasa IMM SL, Spain.
IMC Toys Deutschland GmbH, Germany.
IMC Toys France SASU, France.
IMC Toys Portugal Ltda., Portugal.
IMC Toys UK Ltd., UK.
IMC Toys2 SA, Spain.
Maxfriend Ltd., Hong Kong. (Same address)
etc.
31103851
722034
Chief Executive Officer: Mr. Antonio Bellido Quesada
Country Manager: Mr. Yin Steward
HK$7,362,000.00
(As per registry
dated 28-06-2014)
|
Name |
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No.
of shares |
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IMC Toys Sociedad Anonima Pare
Llaurador 172, 08224 Terrassa, Barcelona, Spain. |
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7,361,999 |
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Albert VENTURA MALLOFRE |
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1 |
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–––––––– |
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Total: |
7,362,000 ======= |
(As per registry
dated 28-06-2014)
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Name (Nationality) |
Address |
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Jose Angel SORIGUERA TARRES |
C/Enric Granados, 46 atic 1a,
08008 Barcelona, Spain. |
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Albert VENTURA MALLOFRE |
Rambla de Sabadell 29-31,
Sabadell, Barcelona 08202, Spain. |
(As per registry
dated 28-06-2014)
|
Name |
Address |
Co.
No. |
|
CA Corporate Services Ltd. |
Suite B, 11/F., Foo Cheong Building, 82-86 Wing Lok
Street, Sheung Wan, Hong Kong. |
0743488 |
The subject was incorporated on 28th June, 2000 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Imcadisa Hong Kong Ltd., name changed to the present style on 1st December, 2003.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Exporter.
Lines: All kinds of toys including electronic games & toys, musical products, wireless remote
control toys, plastic toys & walkie-talkie
Employees: 30.
Commodities Imported: Mainly sourced from China.
Markets: Spain, other European countries, Russia, Middle East, U.S.A., Mexico, etc.
Annual Turnover: Over HK$400 million.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, etc.
Issued Share Capital: HK$7,362,000.00
Profit or Loss: Traded at a profitable angle.
Condition: Keeping in an active manner.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Good.
Bankers:-
· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
· CITIC Ka Wah Bank Ltd., Hong Kong.
· Citibank, N.A., Hong Kong.
Standing: Very Good.
Incorporated in June 2000, IMC Toys Hong Kong Ltd. [IMCHK] is a wholly-owned subsidiary of IMC Toys Sociedad Anonima [IMC] which is a Spain-based firm.
IMCHK is a toy trader. It has a showroom covering an area of 300 sq.m. in Hong Kong.
IMC was established near Barcelona in 1981 and manufactures a wide range of toys under its own brand name, as well as products under licence such as Harry Potter, Star Wars, Barbie, Toy Story, Batman, Superman, Bob the Builder and Power Rangers. Its main markets are Asian countries, Europe, the Middle East and the Americas. Around 60% of IMC’s toys have telecom components such as walkie-talkies and radios; the rest are musical products including keyboards, guitars, sing-along cassette players and a range of walkman items. IMC also owns the licence to manufacture James Bond 007 items for the US market.
Its headquarters is located in Terrassa, Barcelona Province in Spain and its management and control offices are located in Hong Kong and China. Today, IMC creates, designs and makes its own products in China, exporting them to many different countries over the world. Besides its own creations, IMC is in charge of the design of different products to sell under Licenses of well-known brands.
To maximize the use of the most advanced technology, IMC uses the production facilities of about 7 sub-contracted factories on an Original Equipment Manufacturing (OEM) basis, located in Dongguan, Guangdong Province, China.
IMCHK was set up in Hong Kong to manage and strengthen its relationship with its manufacturing partners in China. IMCHK is responsible for supervising the companies manufacturing operations in China, as well as managing all international sales. In addition, IMCHK also set up a representative office in Dongguan to facilitate its management. The Hong Kong team works closely with the team of engineers and quality controllers based in Dongguan office to monitor the production lines and carry out quality inspections.
In Spain, IMC is one of the top ten toy companies. In 2006, it ranked the 6th in the top ten companies.
IMC currently has its own subsidiaries in the United Kingdom, France and Portugal. Besides, IMC also has developed a distribution networks in the Russia, the Middle East and Eastern Europe. Overall business is active.
All the directors of the subject are Spanish.
The Chief Executive Officer of IMC, Mr. Antonio Bellido Quesada, has devoted himself to the toys business since 1968. In fact, he is the Director and Founder of the first toys chain store established in Catalonia, Spain. In 1980, he founded IMCADISA which is known today as IMC, as an import company which adapt products from Asia. With the time IMC got experience and all the necessary knowledge to start manufacturing its own products.
The history of IMCHK is over fourteen years and seven months in Hong Kong. Annual sales turnover is significant.
Fully supported by IMC, IMCHK is considered good for normal business engagements.
|
Date |
Particulars |
Amount |
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24-02-2010 |
Instrument: Charge On Cash Deposit Property: The Chargor, as beneficial owner, charges and agrees to charge to the Bank by way of first fixed charge: (a) the Chargor’s entire right, title and interest in and to the Deposit; and (b) all rights and benefits accruing to or arising in connection with the Deposit Mortgagee: CITIC Ka Wah Bank Ltd., Hong Kong. [Now known as CITIC Bank International
Ltd.] |
All or any money and liabilities |
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15-08-2013 |
Instrument: Deposit Deed Property: By way of a first fixed charge and as a continuing security for the Obligations, the Company charges and assigns absolutely all its rights, title to and interest in the Accounts and all Deposits from time to time in the Accounts and/or comprising the Accounts maintained with Citibank N.A., any branch and/or Citibank (Hong Kong) Ltd. Mortgagee: Citibank N.A., Hong Kong Branch. |
All moneys |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.87 |
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UK Pound |
1 |
Rs.94.07 |
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Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.