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MIRA INFORM REPORT
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Report No. : |
483806 |
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Report Date : |
03.01.2018 |
IDENTIFICATION DETAILS
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Name : |
AVERY DENNISON HONG KONG B.V. |
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Registered Office : |
Willem Einthovenstraat 11, 2342BH
Oegstgeest, The Netherlands. |
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Principal
Place of Business: |
1/F.,
No. 7 Chun Ying Street, Tseung Kwan O Industrial Estate, Tseung Kwan O,
New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
25.10.1993 |
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Com. Reg. No.: |
17526285 |
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Legal Form : |
Limited Company (Non-Hong Kong Company) |
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Line of Business : |
·
The subject is a packaging
material and product provider. It trades
in IndES Elastic Staple System, Plastic Staple, Swiftach solution, etc. It sells Flexible stapling system and brand
identification fasteners to Toy brands, manufacturers and retailers. ·
The subject is trading in the
following commodities:- Handheld
Printer High
Density Read Chamber Multimedia
Printer RFID
Printer and Encoder Toy
Packaging Tool Toy
Elastic Staple Machine |
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No. of Employees : |
400.
(Including associates) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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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 reexports, 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 aided a more rapid initial recovery 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 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 and address
AVERY DENNISON
HONG KONG B.V.
[Incorporated in The Netherlands]
ADDRESS: 1/F., No. 7 Chun Ying Street, Tseung Kwan
O Industrial Estate, Tseung Kwan O, New Territories, Hong Kong.
PHONE: 852-2372 3000
FAX: 852-2873 6436
MANAGEMENT:
Managing Director: Mr. Christopher Russell
Johnson
SUMMARY
Incorporated on: 25th
October, 1993.
Organization:
Limited Company
(Non-Hong Kong Company).
Capital: Authorised: EUR 113,500.00
Issued
& Paid Up: EUR 25,200.00
Business Category: Label and packaging material printer trader.
Group Net Sales: US$6,086.5 million
(Year ended 31-12-2016)
Employees: 400. (Including associates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
ADDRESS
Registered Office:-
Willem Einthovenstraat 11, 2342BH Oegstgeest,
The Netherlands.
Principal Place of Business in Hong Kong:-
1/F., No. 7 Chun Ying Street, Tseung Kwan O
Industrial Estate, Tseung Kwan O, New Territories, Hong Kong.
Ultimate Holding Company:-
Avery Dennison Corporation
150 North Orange Grove Boulevard, Pasadena,
CA 91103-3596, USA. [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, USA.
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. Taiwan
Branch, Taiwan.
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 (Shenzhen) Convert 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 Coordination Center BVBA,
Belgium.
Avery Dennison de Argentina S.A., Argentina.
Avery Dennison Deutschland GmbH, Germany.
Avery Dennison do Brasil Ltda., Brazil.
Avery Dennison Dominican Republic S.A.,
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 Belgium BVBA, Belgium.
Avery Dennison Finance Germany GmbH, Germany.
Avery Dennison Finance Luxembourg II SARL,
Luxembourg.
Avery Dennison Finance Luxembourg III SARL,
Luxembourg.
Avery Dennison Finance Luxembourg S.A.R.L.,
Luxembourg.
Avery Dennison Foundation, USA.
Avery Dennison G Holdings I LLC, USA.
Avery Dennison G Holdings III LLC, USA.
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 GmbH, Germany.
Avery Dennison Holding Luxembourg S.A.R.L.,
Luxembourg.
Avery Dennison Holdings LLC, USA.
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 Hong Kong Holding II B.V.,
Netherlands.
Avery Dennison Iberica S.A., Spain.
Avery Dennison Innovations LLC, USA.
Avery Dennison Intelligent Healthcare
Solutions LLC, USA.
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 Italia S.R.L., Italy.
Avery Dennison Japan K.K., Japan.
Avery Dennison Japan Materials Co. Ltd.,
Japan.
Avery Dennison Kagit Urunleri Sanayi Ticaret
Ltd. Sirketi, Turkey.
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, 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, USA.
Avery Dennison Office Products Holdings
Company, USA.
Avery Dennison Office Products Manufacturing
U.K. Ltd., UK.
Avery Dennison Overseas Corporation, Japan
Branch.
Avery Dennison Overseas Corporation, USA.
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 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.R.L., Honduras.
Avery Dennison Retail Information Services
LLC, USA.
Avery Dennison Retail Information Services
Peru SAC, Peru.
Avery Dennison Retail Information Services UK
Ltd., UK.
Avery Dennison Rfid Company, USA.
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., USA.
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
Europe GmbH, Germany.
Avery Dennison Zweckform Office Products
Manufacturing GmbH, Germany.
Avery Graphic Systems Inc., USA.
Avery Holding Ltd., UK.
Avery Holding S.A.S., France.
Avery LLC, USA.
Avery Office Products Puerto Rico LLC, Puerto
Rico.
Avery Pacific LLC, USA.
Avery Properties Pty. Ltd., Australia.
Best Courage International Ltd., British
Virgin Islands.
Bonfire Management Ltd., British Virgin
Islands.
Createro GmbH, Germany.
Dennison International Company, USA.
Dennison Manufacturing Company, USA.
Euston Financial Ltd., British Virgin
Islands.
Industrial de Marcas Ltda., Colombia.
Infodragon Management Ltd., British Virgin
Islands.
JAC Asia Pacific Sdn. Bhd., Malaysia.
JAC Caribe C.S.Z., Dominican Republic.
JAC do Brasil 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.
Kunshan Dah Mei Weaving Co. Ltd., China.
L&E Americas Servicios S. A. de C.V.,
Mexico.
Markstar International Ltd., Hong Kong.
Modern Mark International Ltd., Hong Kong.
Monarch Marking (S.E.A.) Pte. Ltd.,
Singapore.
Monarch Marking Systems Holdings Ltd., UK.
Naperville Global Ltd., British Virgin
Islands.
New Wales Finance Ltd., British Virgin
Islands.
Newclassic Investment Ltd., British Virgin
Islands.
Ningbo Avery Dennison Rbis Shenzhou, China.
P.T. Pacific Label Indonesia, Indonesia.
P.T. Paxar Indonesia, Indonesia.
Paxar (China) Ltd., Hong Kong.
Paxar (Thailand) Ltd., Thailand.
Paxar B.V., Netherlands.
Paxar Bangladesh Ltd., Bangladesh.
Paxar Canada Corporation, Canada.
Paxar Corporation (Malaysia) Sdn. Bhd.,
Malaysia.
Paxar Corporation, U.S.
Paxar de Colombia FTZ Ltda., Colombia.
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 Far East Ltd., Hong Kong.
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., USA.
Singapore Laces & Labels (Pte) Ltd.,
Singapore.
Skillfield Investments Ltd., British Virgin
Islands.
Suzhou Feng Yi Heng Ye Dye Co. Ltd., China.
Suzhou Ji Zhong Garments Accessory Co. Ltd.,
China.
Tiger Eight Group Ltd., British Virgin
Islands.
Worldwide Risk Insurance Inc., USA.
etc.
BUSINESS
REGISTRATION NUMBER
17526285
COMPANY
FILE NUMBER
F0006198
MANAGEMENT
Managing Director: Mr. Christopher Russell
Johnson
Contact Person: Mr. Oscar Wong
AUTHORIZED
REPRESENTATIVE IN HONG KONG
Name:
Baker & McKenzie
Address:
Room 1401, 14/F., Hutchison House, 10 Harcourt Road, Hong Kong.
CAPITAL
Authorised Share Capital: EUR 113,500.00
Issued & Paid Up Capital: EUR 25,200.00
DIRECTORS
(As per registry dated 18-07-2017)
|
Name (Nationality) |
Address |
|
Karl Heinz LAURET |
Hanso Idzerdapad 45, 2553 TJ’s-Gravenhage,
The Netherlands. |
|
Christopher Russell JOHNSON |
Prinsenweg 17, 2242 EA Wassenaar, The
Netherlands. |
HISTORY
The subject was incorporated in the Netherlands as a
limited company. It has established a
principal place of business in Hong Kong and was registered on 25th
October, 1993 as a Registered Non-Hong Kong company.
Originally the subject was registered under
the name of Soabar Systems Hong Kong B.V., name changed to the present
style on 4th March, 1998.
The subject changed its directors in July
2017.
Apart from these, neither material change nor
amendment has been ever traced and noted.
OPERATIONS
Activities: Label
and packaging material printer.
Lines: All
kinds of handheld printers, etc.
Employees: 80. (Including associates)
Commodities Imported: Imported Asian countries and Europe, etc.
Markets: Worldwide
countries, etc.
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 02-01-2016)
US$6,086.5 million (Year ended 31-12-2016)
US$4,535.7 million (9 months ended 01-10-2016)
US$4,878.5 million (9 months ended 30-09-2017)
Terms/Sales: Various terms.
Terms/Buying:
As per contracted.
FINANCIAL
INFORMATION:
Authorised Share Capital: EUR 113,500.00
Issued & Paid Up Capital: EUR 25,200.00
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 02-01-2016)
US$320.7 million (Year ended 31-12-2016)
US$258.7 million (9 months ended 01-10-2016)
US$341.4 million (9 months ended 30-09-2017)
Profit or Loss: Group
business is profitable.
Condition:
Keeping in an
active and satisfactory manner.
Facilities:
Supported by
holding company.
Payment:
Regular.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Very Good.
GENERAL
Avery Dennison Hong Kong B.V. is a Non-Hong Kong company with its
headquarters in The Netherlands.
The subject shares the office with its main Hong Kong associated
company Avery Dennison (Hong Kong) Ltd. and the other associates which are
comprehensively known as Avery Dennison Hong Kong.
The subject is a packaging material and product provider. It trades in IndES Elastic Staple System,
Plastic Staple, Swiftach solution, etc.
It sells Flexible stapling system and brand identification fasteners to
Toy brands, manufacturers and retailers.
The subject is trading in the following commodities:-
·
Handheld Printer
·
High Density
Read Chamber
·
Multimedia
Printer
·
RFID Printer and
Encoder
·
Toy Packaging
Tool
·
Toy Elastic
Staple Machine, etc.
In order to penetrate the international market further, the
subject has taken part in fairs and exhibitions held in Hong Kong and other
foreign large cities.
It is going to take part in “Hong Kong Toys & Games Fair 2016”
which will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong
Kong during the period of 11th to 14th January, 2016.
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.
Avery Dennison Group’s new reporting segments are the following:
1. The Label and Graphic Materials segment includes Label and
Packaging Materials, Graphics Solutions, and Reflective Solutions (all
previously reported in Pressure-sensitive Materials).
2. 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).
3. 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.
In the first 9 months of 2017 (ended 30th September, 2017), the
net sales of the Group was US$4,878.5 million (same period of 2016: US$4,535.7
million), increased by 7.6%. Group net
income was US$341.4 million, grew by 32.0% as compared with US$258.7 million in
the same period of 2016.
In the first 9 months of 2017 (ended 30th September, 2017), the
net sales of the Group’s Label and Graphic Materials was US$3,350.0 million
(same period of 2016: US$3,123.5 million), increased by 7.3%.
It is predicted that the result of the Group will further improve
in the full year of 2017, so does its Label and Graphic Materials segment.
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 24 years.
The contact person is Mr. Oscar Wong.
On the whole, in view of the parentage and history 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 8.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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.