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Report No. : |
308228 |
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Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
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Name : |
R-PAC HONG KONG LTD. |
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Registered Office : |
7/F., High Fashion Centre, 1-11 Kwai Hei Street, Kwai Chung, New Territories |
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Country : |
Hongkong |
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Date of Incorporation : |
24.03.1994 |
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Com. Reg. No.: |
18045383 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Branded Packaging and Trims. |
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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 |
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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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hongkong |
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 |
HONGKONG - 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 |
R-PAC HONG KONG LTD.
ADDRESS: 7/F., High Fashion Centre,
1-11 Kwai Hei Street, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2991 9888
FAX: 852-2991 9488
E-MAIL: info.hongkong@r-pac.com
Managing Director: Mr. Michael
Lawrence Teitelbaum
Incorporated on: 24th March, 1994.
Organization: Private Limited Company.
Issued Share Capital: HK$3.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 20.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
Registered Head
Office:-
7/F., High Fashion Centre, 1-11 Kwai Hei Street, Kwai Chung, New
Territories, Hong Kong.
Holding Company:-
r-pac International Holding Co. LLC, US.
Associated
Companies:-
PT r-pac Indonesia, Indonesia.
r-pac (Europe) Ltd., Luxembourg.
r-pac (Israel) Ltd., Israel.
r-pac (Japan) Ltd., Japan.
r-pac (Korea) Ltd., Korea.
r-pac (Middle East) Ltd., UAE.
r-pac (Pakistan) Ltd., Pakistan.
r-pac (Philippines) Ltd., Philippines.
r-pac (Shanghai) Ltd., China.
r-pac (Thailand) Ltd., Thailand.
r-pac Accessories (S) Pte. Ltd., Singapore.
r-pac Bangladesh Ltd., Bangladesh.
r-pac India Pvt. Ltd., India.
r-pac International Corporation, US.
r-pac Lnka Pvt. Ltd., Sri Lanka.
r-pac Packaging (Taiwan) Co. Ltd., Taiwan.
r-pac Texstil San. Ve Tic-Ltd., Turkey.
r-pac Vietnam Ltd., Vietnam.
18045383
0471612
Managing Director: Mr. Michael
Lawrence Teitelbaum
Contact Person: Mr. John Chan
HK$3.00
(As per registry
dated 24-03-2014)
|
Name |
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No. of shares |
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R-Pac International Holding Co., LLC 132 West 36th Street, 7/F., New York, NY 10018, U.S.A. |
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3 = |
(As per registry
dated 24-03-2014)
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Name (Nationality) |
Address |
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Michael Lawrence TEITELBAUM |
132 West 36thStreet, 7/F., New York, NY 10018, U.S.A. |
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Daniel TEITELBAUM |
822 Oliver Street, Woodmere, New York 11598, U.S.A. |
(As per registry
dated 24-03-2014)
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Name |
Address |
Co. No. |
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United Secretaries Ltd. |
Level 12, Hennessy Road, Wanchai, Hong Kong. |
0020217 |
The subject was incorporated on 24th March, 1994 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Chartsun Ltd.,
name changed to R.P.W. Hong Kong Ltd. on 31st May, 1994, and further changed to
the present style on 8th January, 2001.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer, Exporter
and Wholesaler.
Lines: Branded packaging
and trims, etc.
Employees: 20.
Commodities Imported: China, other
Asian countries, etc.
Markets: Asian countries,
Europe, North America, Australia, etc.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: As per contracted.
Issued Share
Capital: HK$3.00
Mortgage or Charge:-
Date of Security Over Deposits: 12-01-2009
Amount: (i)
all monies in any currency; (ii) interet on such monies; and (iii) all expenses
of the chargee in perfecting or enforcing the charge
Property: A
deposit with the chargee in the amount of HK$500,000 and all monies under
Deposit No. (047-412424), whatever currency it may subsequently be denominated
in, any renewal of such deposit and the interest thereon together with any
further monies in any deposit account with the chargee at any of its offices.
Mortgagee: The
Hongkong & 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 Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
R-pac Hong Kong
Ltd. is a wholly-owned subsidiary of r-pac International Holding Co., LLC which
is a US-based company.
The nominal ultimate holding company is r-pac International Corporation
[r‑pac / Group] which is also a US-based company.
r-pac is a leading global supplier of branded packaging and trims to
retailers, designers and merchants.
r-pac International was established in 1987. It is specialized in manufacturing printed packaging
and trims for the garment and accessory industry.
During the mid-1990’s, r-pac began building its unique global
infrastructure. Today, r-pac is
comprised of 23 worldwide manufacturing locations combined with 11 US sales
offices. Its corporate headquarters are
located in New York with regional International HQ offices in Hong Kong,
Singapore and Luxemburg.
r-pac’s diverse product lines include corrugated displays, shopping
bags, poly bags, labels (woven, printed and heat transfers), tapes (webbing and
elastic), tags, patches (leather, paper, embroidered and synthetic) stickers,
boxes (corrugated, gift, jewellery designer, shoe), foam inserts, blister
packs, header cards and PVC clamshell packaging. Its customer’s products include apparel,
catalogue, electronics, cosmetics, together with home and outdoor
merchandise. Its services include
graphic design, structural engineering, in-country support, global production,
global colour management and global quality assurance.
The followings are the subject’s services and products: POP / PDQ
Displays, Printed Paper Products, Security Labels & Tags, Woven Labels,
Worldwide Production, Packaging, Heat Transfers, Technical Design, Bar Codes
& UPCs, Corrugated Packaging, Packaging Materials, Gift / Designer Boxes,
Shoe Boxes, Printed Labels / Tapes, Buttons, Hangtags, Poly Bags, Style Guides,
Belts, Leather Patches, Synthetic Patches, Rubber Patches, Graphic Design,
Price Tickets, Logistics & Shipping, Colour Management, Structural
Engineering, etc.
The subject’s business is chiefly handled by Mr. Mr. John Chan who is a
Hongkongnese.
The history of the subject is about 21 years. It is fully supported by r-pac.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.05 |
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|
1 |
Rs.96.03 |
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Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.