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MIRA INFORM REPORT
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Report No. : |
483810 |
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Report Date : |
02.01.2018 |
IDENTIFICATION DETAILS
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Name : |
PAXAR (CHINA) LIMITED |
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Registered Office : |
15/F. – 16/F., Octa Tower, 8 Lam Chak Street, Kowloon Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.07.1978 |
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Com. Reg. No.: |
05666077 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers & exporters of all kinds of cardboards, hang tags, heat-seal labels, leaflets, leather patches, PVC labels, paper tickets, paper/metallic/plastic stickers, posters, silk screen labels, synthetic leather patches, woven labels. |
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No. of Employees : |
50 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 continues to
link its currency closely to the US dollar, maintaining an arrangement
established in 1983.
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 9.4% of
total system deposits in Hong Kong by the end of 2015. 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. Mainland
visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million,
reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong
has also established itself as the premier stock market for Chinese firms
seeking to list abroad. In 2015, mainland Chinese companies constituted about
51% of the firms listed on the Hong Kong Stock Exchange and accounted for about
62.1% 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. 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.
Credit expansion and a tight housing supply have caused Hong Kong
property prices to rise rapidly; consumer prices increased 4.4% in 2014, but
slowed to 2.9% in 2015. Lower- and middle-income segments of the population are
increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most
evident in the banking and finance sector. Initiatives like the Hong
Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong
Shanghai Gold Connect are all important steps towards opening up the Mainland’s
capital markets and has reinforced Hong Kong’s leading role as China’s offshore
RMB market. Additional connect schemes from bonds to commodities and other
investment products are also under exploration by Hong Kong authorities.
|
Source
: CIA |
Company
name & address
PAXAR (CHINA) LIMITED
ADDRESS: 15/F. – 16/F., Octa
Tower, 8 Lam Chak Street, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 852-3146 8100,
2400,4000
FAX: 852-2705 1225,
2785 1255
MANAGEMENT
Managing Director: Ms. Margaret
Yu Wen-Kuei
SUMMARY
Incorporated on: 7th July, 1978.
Organization: Private Limited Company.
Issued Share Capital: HK$1,000,100.00
Business Category: Printing
of labels and packaging materials.
Group Net Sales: US$6,086.5 million (Year ended 31-12-2016)
Employees: 50.
Main Dealing Banker: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Name
PAXAR (CHINA) LIMITED
ADDRESS
Registered
Office:-
C/o Tricor Services Ltd.
Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong.
Operating Office:-
15/F. – 16/F., Octa Tower, 8 Lam Chak Street, Kowloon Bay, Kowloon,
Hong Kong.
Also Trading As:-
Paxar Far East – Europe Division, Hong Kong.
Holding Company:-
Paxar Far East Ltd., Hong Kong.
Intermediate
Holding Company:-
Paxar Corporation, US.
Ultimate Holding
Company:-
Avery Dennison Corporation
150 North Orange Grove Boulevard, Pasadena, CA 91103-3596, US. [Tel: 626-304-2000; Fax: 626-577-5264, 626-792-7312]
Associated/Affiliated
Companies:-
Avery Dennison Group of Companies
ADC Philippines Inc., Philippines.
Adespan S.R.L., Italy.
Adhipress (Hong Kong) Ltd., Hong Kong.
Adhipress Bangladesh Ltd., Bangladesh.
Avery Corporation, US.
Avery de Mexico SRL de CV, Mexico.
Avery Dennison (Asia) Holdings Ltd., Mauritius.
Avery Dennison (China) Co. Ltd., China.
Avery Dennison (Fuzhou) Converted Products Ltd., China.
Avery Dennison (Guangzhou) Co. Ltd., China.
Avery Dennison (Guangzhou) Converted Products Ltd., China.
Avery Dennison (Hong Kong) Ltd., Hong Kong.
Avery Dennison (India) Private Ltd., India.
Avery Dennison (Ireland) Ltd., Ireland.
Avery Dennison (Kenya) Private Ltd., Kenya.
Avery Dennison (Kunshan) Co. Ltd., China.
Avery Dennison (Malaysia) Sdn. Bhd., Malaysia.
Avery Dennison (Qingdao) Converted Products Ltd., China.
Avery Dennison (Suzhou) Co. Ltd., China.
Avery Dennison (Thailand) Ltd., Thailand.
Avery Dennison (Vietnam) Ltd., Vietnam.
Avery Dennison Australia Group Holdings Pty. Ltd., Australia.
Avery Dennison Australia International Holdings Pty. Ltd., Australia.
Avery Dennison Australia Pty. Ltd., Australia.
Avery Dennison Belgie BVBA, Belgium.
Avery Dennison Benelux BVBA, Belgium.
Avery Dennison Bulgaria EOOD, Bulgaria.
Avery Dennison BV, Netherlands.
Avery Dennison C.A., Venezuela.
Avery Dennison Canada Corporation, Canada.
Avery Dennison Central Europe GmbH, Germany.
Avery Dennison Chile S.A., Chile.
Avery Dennison Colombia S.A., Colombia.
Avery Dennison Commercial El Salvador Ltda. De C.V., El Salvador.
Avery Dennison Converted Products de Mexico S.A. de C.V., Mexico.
Avery Dennison Converted Products El Salvador S.A. de C.V., El Salvador.
Avery Dennison de Argentina S.A., Argentina.
Avery Dennison Deutschland GmbH, Germany.
Avery Dennison do Brasil Ltda., Brazil.
Avery Dennison Dominican Republic S.R.L., Dominican Republic.
Avery Dennison Egypt LLC, Egypt.
Avery Dennison Etiket Ticaret Ltd. Sirketi, Turkey.
Avery Dennison Europe GmbH, Switzerland.
Avery Dennison Europe Holding (Deutschland) GmbH & Co. KG, Germany.
Avery Dennison Finance Germany GmbH, Germany.
Avery Dennison G Holdings I LLC, US.
Avery Dennison G Holdings III LLC, US.
Avery Dennison G Investments 111 Ltd., Gibraltar.
Avery Dennison G Investments V Ltd., Gibraltar.
Avery Dennison Group Danmark ApS, Denmark.
Avery Dennison Group Singapore (Pte) Ltd., Singapore.
Avery Dennison Gulf FZCO, UAE.
Avery Dennison Holding & Finance The Netherlands BV, The
Netherlands.
Avery Dennison Holding GmbH, Germany.
Avery Dennison Holding Ltd., UK.
Avery Dennison Holding Luxembourg S.A.R.L., Luxembourg.
Avery Dennison Holdings LLC, US.
Avery Dennison Holdings New Zealand Ltd., New Zealand.
Avery Dennison Hong Kong B.V., Netherlands/Hong Kong.
Avery Dennison Hong Kong Holding I B.V., Netherlands.
Avery Dennison Iberica S.A., Spain.
Avery Dennison Innovations LLC, US.
Avery Dennison Intelligent Healthcare Solutions LLC, US.
Avery Dennison Investment Luxembourg II SARL, Luxembourg.
Avery Dennison Investments Luxembourg III SARL, Luxembourg.
Avery Dennison Investments Luxembourg IV SARL, Luxembourg.
Avery Dennison Investments Luxembourg S.A.R.L., Luxembourg.
Avery Dennison Investments Luxembourg V SCA, Luxembourg.
Avery Dennison Israel, Israel.
Avery Dennison Italia S.R.L., Italy.
Avery Dennison Japan K.K., Japan.
Avery Dennison Japan Materials Co. Ltd., Japan.
Avery Dennison Korea Ltd., South Korea.
Avery Dennison Labels Ltd., Hong Kong.
Avery Dennison Lanka (Private) Ltd., Sri Lanka.
Avery Dennison Luxembourg S.A.R.L., Luxembourg.
Avery Dennison Luxembourg Sales SARL, Luxembourg.
Avery Dennison Management GmbH, Germany.
Avery Dennison Management KGAA, Luxembourg.
Avery Dennison Management Luxembourg S.A.R.L., Luxembourg.
Avery Dennison Materials Europe B.V., Netherlands.
Avery Dennison Materials Europe GmbH, Switzerland.
Avery Dennison Materials France SARL, France.
Avery Dennison Materials GmbH, Germany.
Avery Dennison Materials Ireland Ltd., Ireland.
Avery Dennison Materials Nederland BV, Netherlands.
Avery Dennison Materials New Zealand Ltd., New Zealand.
Avery Dennison Materials Pty. Ltd., Australia.
Avery Dennison Materials Rom SRL, Romania.
Avery Dennison Materials Russia LLC, Russia.
Avery Dennison Materials Sales France S.A.S., France.
Avery Dennison Materials Sales Germany GmbH, Germany.
Avery Dennison Materials Sdn. Bhd., Malaysia.
Avery Dennison Materials U.K. Ltd., UK.
Avery Dennison Materials Ukraine LLC, Ukraine.
Avery Dennison Mauritius Ltd., Mauritius.
Avery Dennison Morocco SARL, Morocco.
Avery Dennison Netherlands Investment 0 BV, Netherlands.
Avery Dennison Netherlands Investment I BV, Netherlands.
Avery Dennison Netherlands Investment II B. V., Netherlands.
Avery Dennison Netherlands Investment III BV, Netherlands.
Avery Dennison Netherlands Investment IX BV, Netherlands.
Avery Dennison Netherlands Investment North America BV, Netherlands.
Avery Dennison Netherlands Investment VI BV, Netherlands.
Avery Dennison Netherlands Investment VII B.V., Netherlands.
Avery Dennison Netherlands Investment VIII Cooperatief U.A.,
Netherlands.
Avery Dennison Netherlands Investment X B V, Netherlands.
Avery Dennison Netherlands Investment XI Cooperatief U.A., Netherlands.
Avery Dennison Netherlands Investment XII BV, Netherlands.
Avery Dennison Netherlands Investment XIII BV, Netherlands.
Avery Dennison Netherlands Investment XIV BV, Netherlands.
Avery Dennison Netherlands Investment XV BV, Netherlands.
Avery Dennison Nordic ApS, Denmark.
Avery Dennison NTP A.S., Norway.
Avery Dennison Office Accessories U.K. Ltd., UK.
Avery Dennison Office Products (Pty) Ltd., South Africa.
Avery Dennison Office Products Company, US.
Avery Dennison Office Products Holdings Company, US.
Avery Dennison Office Products Manufacturing U.K. Ltd., UK.
Avery Dennison Overseas Corporation, US.
Avery Dennison Pension Trustee Ltd., UK.
Avery Dennison Peru S.R.L., Peru.
Avery Dennison Polska Sp.zo.o, Poland.
Avery Dennison Praha Spol. SRO, Czech Republic.
Avery Dennison R.I.S. France S.A.S., France.
Avery Dennison R.I.S. Iberia S.L., Spain.
Avery Dennison R.I.S. Italia S.R.L., Italy.
Avery Dennison R.I.S. Polska Sp.zo.o, Poland.
Avery Dennison RBIS (Cambodia) Trading Co. Ltd., Cambodia.
Avery Dennison RBIS Pty. Ltd., Australia.
Avery Dennison RBIS Singapore Pte. Ltd., Singapore.
Avery Dennison Retail Information Services (Pty) Ltd., South Africa.
Avery Dennison Retail Information Services Colombia S.A., Colombia.
Avery Dennison Retail Information Services De Mexico S.A. de C.V.,
Mexico.
Avery Dennison Retail Information Services Dominican Republic S.A.,
Dominican Republic.
Avery Dennison Retail Information Services El Salvador S.A. de C.V., El
Salvador.
Avery Dennison Retail Information Services Guatemala S.A., Guatemala.
Avery Dennison Retail Information Services Honduras S.de R.L., Honduras.
Avery Dennison Retail Information Services LLC, US.
Avery Dennison Retail Information Services Peru SAC, Peru.
Avery Dennison Retail Information Services UK Ltd., UK.
Avery Dennison RFID Company, US.
Avery Dennison RIS Korea Ltd., Korea.
Avery Dennison RIS Taiwan Ltd., Taiwan.
Avery Dennison RIS Vietnam Co. Ltd., Vietnam.
Avery Dennison S.A. de C.V., Mexico.
Avery Dennison S.R.L., Romania.
Avery Dennison Scandinavia AB, Sweden.
Avery Dennison Scandinavia ApS, Denmark.
Avery Dennison Schweiz AG, Switzerland.
Avery Dennison Security Printing Europe ApS, Denmark.
Avery Dennison Shared Services Inc., US.
Avery Dennison Singapore (Pte) Ltd., Singapore.
Avery Dennison Singapore Investments B.V., Netherlands.
Avery Dennison South Africa (Proprietary) Ltd., South Africa.
Avery Dennison Systemes D’Etiquetage France S.A.S., France.
Avery Dennison Tekstil Urunleri Sanayi Ve Ticaret Ltd. Sirketi, Turkey.
Avery Dennison Treasury Management BV, Netherlands.
Avery Dennison U.K. II Ltd., UK.
Avery Dennison U.K. Ltd., UK.
Avery Dennison Vermogensverwaltungs GmbH & Co. KG, Germany.
Avery Dennison Zweckform Office Products Manufacturing GmbH, Germany.
Avery Graphic Systems Inc., US.
Avery Holding S.A.S., France.
Avery LLC, US.
Avery Office Products Puerto Rico LLC, Puerto Rico.
Avery Pacific LLC, US.
Avery Properties Pty. Ltd., Australia.
Best Courage International Ltd., British Virgin Islands.
Createro GmbH, Germany.
Dennison International Company, US.
Dennison Manufacturing Company, US.
Euston Financial Ltd., British Virgin Islands.
Evergreen Holding SARL, Luxembourgh.
Evergreen Holdings V LLC, US.
Infodragon Management Ltd., British Virgin Islands.
Ink Mill Corp., US.
JAC Asia Pacific Sdn. Bhd., Malaysia.
JAC Caribe C.S.Z., Dominican Republic.
JAC do Brasil Locacao De Equipamentos Industriais Ltda., Brazil.
JAC New Zealand Ltd., New Zealand.
Jackstadt France S.N.C., France.
Jackstadt South Africa (Pty) Ltd., South Africa.
Jintex Ltd., Channel Islands.
L&E Americas Servicios S. A. de C.V., Mexico.
Mactac (Shanghai) Trading Co. Ltd., China.
Mactac Asia-Pacific Self-Adhesive Products Pte. Ltd., Singapore.
Mactac Coordination Center SPRL, Belgium.
Mactac Deutschland GmbH, Germany.
Mactac Europe SPRL, Belgium.
Mactac France SARL, France.
Mactac Polska Sp.z.o.o., Poland.
Mactac Scandinavia A.B., Sweden.
Mactac U.K. Holdings Ltd., UK.
Markstar International Ltd., Hong Kong.
Modern Mark International Ltd., Hong Kong.
Monarch Marking Systems Holdings Ltd., UK.
Multi-Fix BVBV, Belgium.
Naperville Global Ltd., British Virgin Islands.
New Wales Finance Ltd., British Virgin Islands.
Ningbo Avery Dennison Shenzhou Embellishment Co. Ltd., China.
P.T. Pacific Label Indonesia, Indonesia.
P.T. Paxar Indonesia, Indonesia.
Paxar (Thailand) Ltd., Thailand.
Paxar B.V., Netherlands.
Paxar Bangladesh Ltd., Bangladesh.
Paxar Canada Corporation, Canada.
Paxar Corporation (Malaysia) Sdn. Bhd., Malaysia.
Paxar de El Salvador S.A. de C.V., El salvador.
Paxar de Guatemala S.A., Guatemala.
Paxar de Mexico S.A. de C.V., Mexico.
Paxar de Nicaragua. S.A., Nicaragua.
Paxar do Brasil Ltda., Brazil.
Paxar Korea Ltd., South Korea.
Paxar Packaging (Guangzhou) Ltd., China.
Paxar Pakistan (Pvt) Ltd., Pakistan.
PT Avery Dennison Indonesia, Indonesia.
PT Avery Dennison Packaging Indonesia, Indonesia.
RVL Americas S de R.L. de C.V., Mexico.
RVL Central America S.A., Guatemala.
RVL Packaging Far East Ltd., Hong Kong.
RVL Service S. de R.L. de C.V., Mexico.
Security Printing Division Inc., US.
Skillfield Investments Ltd., British Virgin Islands.
Suzhou Feng Yi Heng Ye Dye Co. Ltd., China.
Tiger Eight Group Ltd., British Virgin Islands.
Worldwide Risk Insurance Inc., US.
BUSINESS
REGISTRATION NUMBER
05666077
COMPANY
FILE NUMBER
0061829
MANAGEMENT
Managing Director: Ms. Margaret
Yu Wen-Kuei
ISSUED
SHARE CAPITAL
HK$1,000,100.00 (100 fully paid ordinary shares and 1,000,000 fully paid
non‑voting shares)
SHAREHOLDERS
(As per registry dated 07-07-2016)
|
Name |
|
No. of shares |
|
|
|
|
Non-voting |
Ordinary |
|
Paxar Far East Ltd., Hong Kong. |
|
1,000,000 |
99 |
|
Avery Corp. 207 Goode Avenue, Glendale, CA 91203, U.S. |
|
- |
1 |
|
|
|
–––––––– |
––– |
|
|
Total: |
1,000,000 |
100 |
|
|
|
======= |
=== |
DIRECTORS
(As per registry dated 07-07-2016)
|
Name (Nationality) |
Address |
|
Rishi PARDAL |
No. 91, 15/F., Tower 17, Hong Kong Parkview, 88 Tam Tai Reservoir
Road, Hong Kong. |
|
YU Wen Kuei, Margaret |
85A, 15/F., Tak Fung Building, 85-91 Lai Chi Kok Road, Kowloon, Hong
Kong. |
SECRETARY
(As per registry dated 07-07-2016)
|
Name |
Address |
Co. No. |
|
Tricor Strath Ltd. |
Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong. |
0004873 |
HISTORY
The subject was incorporated on 7th July, 1978 as a private limited
liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Edmond Labels Ltd., name
changed to Edmond Labels & Packaging Ltd. on 23rd April, 1991, changed to
Ferguson Asia Ltd. on 15th October, 1991.
Subsequently, the present style was adopted on 8th December, 2004.
The subject moved to ‘8/F. & 10/F., Paxar Building, 210-212 Choi
Hung Road, San Po Kong, Kowloon, Hong Kong’ from ‘Block B, 10/F., Piazza
Industrial Building, 133 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong’ in June
2000. It moved to ‘32/F., Skyline Tower,
39 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong’ in January 2008 and
further to the present address in September 2013.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Manufacturers
& Exporters.
Lines: All
kinds of cardboards, hang tags, heat-seal labels, leaflets, leather patches,
PVC labels,
paper tickets, paper/metallic/plastic
stickers, posters, silk screen labels, synthetic leather patches, woven labels.
Employees: 50.
Materials/Commodities: Mainly
imports raw materials from Southeast Asia and Europe and finish productes from
its affiliated
factory in the PRC.
Markets: Worldwide.
Group Net Sales: US$5,863.5
million (Year ended 29-12-2012)
US$6,140.0 million (Year ended 31-12-2013)
US$6,330.3 million (Year ended 03-01-2015)
US$5,966.9 million (Year ended 31-12-2015)
US$6,086.5 million (Year ended 31-12-2016)
Terms/Sales: Various terms.
Terms/Buying: As per contracted.
MEMBERSHIP
The Hong Kong General Chamber of Commerce, Hong Kong.
The Chinese Manufacturers’ Association of Hong Kong, Hong Kong.
FINANCIAL
INFORMATION
Issued Share Capital: HK$1,000,100.00
(100 fully paid ordinary shares and 1,000,000 fully paid non voting
shares)
Group Net Income: US$217.3
million (Year ended 29-12-2012)
US$213.2 million (Year ended 31-12-2013)
US$245.1 million (Year ended 03-01-2015)
US$274.3 million (Year ended 31-12-2015)
US$320.7 million (Year ended 31-12-2016)
Profit or Loss: Group business is profitable.
Condition: Keeping in an active and
satisfactory manner.
Facilities: Supported by holding
company.
Payment: No Complaints.
Commercial Morality: Very good.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Good.
GENERAL
Paxar (China) Limited, trading as Paxar Far East – Europe Division, is
engaged in printing of labels and packaging materials.
The subject formerly was a wholly-owned subsidiary of Ferguson
International PLC [Ferguson], the United Kingdom. On 9th March, 1999, it became a wholly-owned
subsidiary of Paxar Far East Ltd., a Hong Kong-registered company which was in
turn a subsidiary of Paxar Corporation [Paxar], a listed company in the United
States. However, Paxar was acquired by
Avery Dennison Corporation [Company/Avery Dennison], a publicly listed company
in the United States.
Now, the subject is still a wholly-owned subsidiary of Paxar Far East
Ltd. and its intermediate holding is still Paxar.
The subject is a marketing office of the products for the Avery Dennison
Group.
The subject has had an associated company in Hong Kong known as Avery
Dennison (Hong Kong) Ltd. located at a different address.
Avery Dennison was incorporated in 1977 in the state of Delaware as
Avery International Corporation [Avery], the successor corporation to a
California corporation of the same name that had been incorporated in
1946. In 1990, Avery merged one of its
subsidiaries into Dennison Manufacturing Company [Dennison], as a result of
which Dennison became a wholly-owned subsidiary of Avery and in connection with
which Avery’s name was changed to Avery Dennison.
Avery Dennison’s businesses include the production of pressure-sensitive
materials, office and consumer products and a variety of tickets, tags, labels
and other converted products. Some
pressure-sensitive materials are sold to label printers and converters that
“convert” the materials into labels and other products through embossing,
printing, stamping and die-cutting. Some
are sold by it in converted form as printable media, tapes and reflective
sheeting. Avery Dennison also
manufactures and sells a variety of office and consumer products, other
converted products and items not involving pressure-sensitive components, such
as binders, organizing systems, markers, fasteners, business forms, as well as
tickets, tags, radio-frequency identification [RFID] inlays and labels, and
imprinting equipment and related services for retail and apparel manufacturers.
Now Avery Dennison is a global leader in labelling and packaging
materials and solutions. With operations
in more than 50 countries and 30,000 employees worldwide, Avery Dennison serves
customers with insights and innovations that help make brands more inspiring
and the world more intelligent.
Avery Dennison Corporation (NYSE: AVY) is a Fortune 500® company which
is based in Pasadena, California, the United States.
Avery Dennison’s businesses include the production of pressure-sensitive
materials, office and consumer products and a variety of tickets, tags, labels
and other converted products.
Avery Dennison Group’s new reporting segments are the following:
The Label and Graphic Materials segment includes Label and Packaging
Materials, Graphics Solutions, and Reflective Solutions (all previously
reported in Pressure-sensitive Materials).
The Industrial and Healthcare Materials segment includes Performance
Tapes (previously reported in Pressure-sensitive Materials), Fasteners
Solutions (previously reported in Retail Branding and Information Solutions),
and Vancive Medical Technologies (previously reported as a standalone segment).
Retail Branding and Information Solutions now includes tickets, tags,
and labels for apparel, radio-frequency identification, and Printer Solutions.
The Group’s products are classified into the following categories:-
Cable Ties (Nylon);
Elastic “Staple™” Systems;
Hand Labellers and Labels;
Plastic Staple Attacher; &
Tag Attaching Fasteners.
In 2016 (year ended 31st December, 2016), the net sales of the Group was
US$6,086.5 million (2015: US$5,966.9 million), increased by 2.0%. Group net income was US$320.7 million, grew
by 16.9% as compared with US$274.3 million in 2015. Overall business is good.
As of late 2016, the Group operated approximately 180 manufacturing and
distribution facilities worldwide and had operations in over 50 countries.
The subject is fully supported by the Avery Dennison Group. History in Hong Kong is over 23 years and
four months.
The subject is fully supported by the Avery Dennison Group. History in Hong Kong is over thirty-nine
years.
On the whole, in view of the parentage and background of the subject,
consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.67 |
|
|
1 |
INR 85.90 |
|
Euro |
1 |
INR 76.41 |
|
HKD |
1 |
INR 8.15 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.