|
|
|
MIRA INFORM REPORT
|
Report No. : |
487086 |
|
Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
FREUDENBERG & VILENE INTERNATIONAL LIMITED |
|
|
|
|
Registered Office : |
8/F., Loyal Centre, 828 Cheung Sha Wan Road, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
10.10.1980 |
|
|
|
|
Com. Reg. No.: |
06871407 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of Interlinings, linings. |
|
|
|
|
No. of Employees : |
26 |
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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, which took effect in
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 2.6% in 2016, but
slowed to 2.0% in 2017. 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
FREUDENBERG & VILENE INTERNATIONAL LIMITED
ADDRESS: 8/F., Loyal Centre,
828 Cheung Sha Wan Road, Kowloon, Hong Kong.
PHONE: 852-2786 8368
FAX: 852-2786 2847
E-MAIL: vilene@fvihk.com
MANAGEMENT
Managing Director: Mr. Pyong Chul
Jonathan Oh
SUMMARY
Incorporated on: 10th October, 1980.
Organization: Private
Limited Company.
Issued Share Capital: HK$40,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Freudenberg Group Total Sales:
€7,900.1 million (Year ended
31-12-2016)
Employees: 26.
Main Dealing Banker: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
Name
FREUDENBERG & VILENE
INTERNATIONAL LIMITED
ADDRESS
Registered Head
Office:-
8/F., Loyal Centre, 828 Cheung Sha Wan Road, Kowloon, Hong Kong.
Holding
Companies:-
Freudenberg Trading (Hong Kong) Ltd., Hong Kong. (Same address)
Japan Vilene (Hong Kong) Ltd., Hong Kong.
Associated/Affiliated
Companies:-
Freudenberg Group Companies
Accu-Tech s.r.o., Czech Republic.
ALUCON s.r.o., Czech Republic.
APEC (Asia) Ltd., Hong Kong.
Aquabio Ltd., U.K.
Auto Suppliers Ltd., U.K.
Burgmann Dalian Co. Ltd., China.
Burgmann Shanghai Ltd., China.
Capol (U.K.) Ltd., U.K.
Capol GmbH, Germany.
Changchun Integral Accumlator Co. Ltd., China.
Chemlease Japan K.K., Japan.
Chem-Trend (Deutschland) GmbH, Germany.
Chem-Trend (Shanghai) Trading Co. Ltd., China.
Chem-Trend (UK) LP, U.K.
Chem-Trend Australia Pty. Ltd., Australia.
Chem-Trend Chemicals (Shanghai) Co. Ltd., China.
Chem-Trend Chemicals Co. Pvt. Ltd., India.
Chem-Trend Comercial S.A. de C.V., Mexico.
Chem-Trend France S.A.S.U., France.
Chem-Trend Industria e Comercio de Produtos Quimicos Ltda., Brazil.
Chem-Trend Italy del Dr. Gian Franco Colori S.A.S., Italy.
Chem-Trend Korea Ltd., South Korea.
Chem-Trend Ltd. Partnership, U.S.
Conteco GmbH, Germany.
Corcos Industriale S.a.s. di Externa Italia S.r.l., Italy.
Corteco Ltd., U.K.
Corteco S.r.l., Italy.
Corteco SAS, France.
Dichomatik Vertriebsgesellschaft fur technische Dichtungen m.b.H.,
Germany.
Dichtomatik (China) Co. Ltd., China.
Dichtomatik Canada Inc., Canada.
Dichtomatik de Mexico S.A. de C.V., Mexico.
Dichtomatik Ltd., U.K.
Dichtomatik S.A.S. di Externa Italia S.r.l., Italy.
Dichtomatik S.A.S., France.
E&J (HK) Co. Ltd., Hong Kong.
EagleBurgmann (Malaysia) Sdn. Bhd., Malaysia.
EagleBurgmann (Thailand) Co. Ltd., Thailand.
EagleBurgmann Australasia Pty. Ltd., Australia.
EagleBurgmann Belgium B.V.B.A., Belgium.
EagleBurgmann BT S.p.A., Italy.
EagleBurgmann Canada Inc., Canada.
EagleBurgmann Colombia S.A.S., Colombia.
EagleBurgmann do Brasil Vedacoes Ltda., Brazil.
EagleBurgmann Espey GmbH, Germany.
EagleBurgmann France S.A.S., France.
EagleBurgmann Germany GmbH & Co. KG, Germany.
EagleBurgmann India Pvt. Ltd., India.
EagleBurgmann Industries UK LP, U.K.
EagleBurgmann Italia S.r.l., Italy.
EagleBurgmann Japan Co. Ltd., Japan.
EagleBurgmann KE A/S, Denmark.
EagleBurgmann KE Pvt. Ltd., India.
EagleBurgmann Manufcturing Malaysia Sdn. Bhd., Malaysia.
EagleBurgmann Mascot India Private Ltd., India.
EagleBurgmann Mexico S.A. de C.V., Mexico.
EagleBurgmann Nova Magnetics Ltd., Canada.
EagleBurgmann Production Center Judenburg GmbH, Austria.
EagleBurgmann Production Centre S.A. de C.V., Mexico.
EagleBurgmann Seals South Africa (Pty.) Ltd., South Africa.
EagleBurgmann Taiwan Co. Ltd., Taiwan.
EagleBurgmann Technology (Shanghai) Co. Ltd., China.
FHP di R. Freudenberg S.A.S., Italy.
FHP Export GmbH, Germany.
FHP Hellas S.A., Greece.
FHP Vileda S.A., Frnce.
FHP Vileda S.C.S., Belgium.
Freudenberg & Vilene Filter (Changchun) Co. Ltd., China.
Freudenberg & Vilene Interlinings (Nantong) Co. Ltd., China.
Freudenberg & Vilene International (Shanghai) Trading Co. Ltd.,
China.
Freudenberg & Vilene Nonwovens (Suzhou) Co. Ltd., China.
Freudenberg & Vilene Nonwovens (Taiwan) Co. Ltd., Taiwan.
Freudenberg DS Tooling Centre GmbH & Co. KG, Germany.
Freudenberg Espana S.A., Spain.
Freudenberg Evolon S.A.S.U., France.
Freudenberg Far Eastern Spunweb Comp. Ltd., Taiwan.
Freudenberg Filtration Technologies (Aust) Pty. Ltd., Australia.
Freudenberg Filtration Technologies Finland Oy, Finland.
Freudenberg Filtration Technologies Inc., Canada.
Freudenberg Filtration Technologies India Private Ltd., India.
Freudenberg Filtration Technologies LP, U.S.
Freudenberg Filtration Technologies S.A. de C.V., Mexico.
Freudenberg Filtration Technologies SAS, France.
Freudenberg Filtration Technologies SE & Co. KG, Germany.
Freudenberg Filtration Technologies Slovensko s.r.o., Slovakia.
Freudenberg Filtration Technologies UK Ltd., U.K.
Freudenberg Gala Household Product Pvt. Ltd., India.
Freudenberg Haushaltsprodukte Augsburg GmbH, Germany.
Freudenberg Home & Cleaning Solutions AB, Sweden.
Freudenberg Household Products (Malaysia) Sdn. Bhd., Malaysia.
Freudenberg Household Products (Suzhou) Co. Ltd., China.
Freudenberg Household Products B.V., Netherlands.
Freudenberg Household Products Ind., Canada.
Freudenberg Household Products LP, U.K.
Freudenberg Household Products LP, U.S.
Freudenberg Household Products Ltd., Hong Kong.
Freudenberg Household Products Oy Ab, Finland.
Freudenberg Household Products Pty. Ltd., Australia.
Freudenberg Iberica S.A., Spain.
Freudenberg Interlining SE & Co. KG, Germany.
Freudenberg Joints Elastomeres SAS, France.
Freudenberg Joints Plats SAS, France.
Freudenberg Medical Europe GmbH, Germany.
Freudenberg Medical LLC, U.S.
Freudenberg Medical MIS Inc., U.S.
Freudenberg Medical srl., Costa Rica.
Freudenberg Nao-Tecidos Ltda., Brazil.
Freudenberg Nonwovens (Pty.) Ltd., South Africa.
Freudenberg Nonwovens India Pvt. Ltd., India.
Freudenberg Oil & Gas Canada Inc., Canada.
Freudenberg Oil & Gas FZE, U.A.E.
Freudenberg Oil & Gas LLC, U.S.
Freudenberg Oil & Gas Pte. Ltd., Singapore.
Freudenberg Oil & Gas Technologies AS, Norway.
Freudenberg Oil & Gas Technologies Ltd., U.K.
Freudenberg Oil & Gas Technologies Sdn. Bhd., Malaysia.
Freudenberg Oil & Gas UK Ltd., U.K.
Freudenberg Performance Materials LP, U.K.
Freudenberg Performance Materials LP, U.S.
Freudenberg Politex Ltd., China.
Freudenberg Politex OOO, Russia.
Freudenberg Politex S.A., France.
Freudenberg Process Seals GmbH & Co. KG, Germany.
Freudenberg Productos del Hogar Ltda., Chile.
Freudenberg Productos del Hogar S.A. de C.V., Maxico.
Freudenberg Pty. Ltd., Australia.
Freudenberg S.A. Telas sin Tejer, Argentina.
Freudenberg S.p.A., Italy.
Freudenberg SAS, France.
Freudenberg Schwab Vibration Control GmbH & Co. KG, Germany.
Freudenberg SE, Germany.
Freudenberg Sealing Technologies GmbH & Co. KG, Germany.
Freudenberg Sealing Technologies Sanyi ve Ticaret A.S., Turkey.
Freudenberg Simmerringe Kft., Hungary.
Freudenberg Simrit Oy, Finland.
Freudenberg Spezialdichtungsprodukte Austria GmbH & Co. KG, Austria.
Freudenberg Spunweb (Shanghai) Trading Co. Ltd., China.
Freudenberg Spunweb Japan Co. Ltd., Japan.
Freudenberg Technical Products LP, U.K.
Freudenberg Tecnologie di Filtrazione S.a.s. di Externa Holding S.r.l.,
Italy.
Freudenberg Texbond LP, U.S.
Freudenberg Textile Technologies S.A., Guatemala.
Freudenberg Tomites Ipari Kft., Hungary.
Freudenberg Vileda Jordan Ltd., Jordan.
Freudenberg Vliesstoffe SE & Co. KG, Germany.
Freudenberg-NOK General Partnership, U.S.
Freudenberg-NOK Inc., Canada.
Freudenberg-NOK Sealing Technologies de Mexico S.A. de C.V., Mexico.
Freudenberg-NOK-Componentes Brasil Ltda., Brazil.
Hansel Textil Italia Srl., Italy.
Hansel Textile Bulgaria ood, Bulgaria.
Hemoteq AG, Germany.
Integral Accumulator GmbH & Co. KG, Germany.
International Seal Co. Inc., U.S.
Jump (Asia) Distributors Ltd., Hong Kong.
Jump International Trading (Shanghai) Co. Ltd., China.
KE-Burgmann Finland Oy, Finland.
KE-Burgmann UK Ltd., U.K.
Kluber Lubricacion Mexicana S.A. de C.V., Mexico.
Kluber Lubrication (Malaysia) Sdn. Bhd., Malaysia.
Kluber Lubrication (Shanghai) Co. Ltd., China.
Kluber Lubrication Argenting S.A., Argentina.
Kluber Lubrication Australia Pty. Ltd., Australia.
Kluber Lubrication Austria Ges.m.b.H., Austria.
Kluber Lubrication Belgium Netherlands S.A., Belgium.
Kluber Lubrication Benelux S.A./N.V., Belgium.
Kluber Lubrication Chile Ltda., Chile.
Kluber Lubrication China Ltd., Hong Kong.
Kluber Lubrication Deutschland SE & Co. KG, Germany.
Kluber Lubrication France S.A.S., France.
Kluber Lubrication GmbH, Spain.
Kluber Lubrication Great Britain Ltd., U.K.
Kluber Lubrication India Pvt. Ltd., India.
Kluber Lubrication Italia S.A.S. di G. Colori, Italy.
Kluber Lubrication Lubrificantes Especiais Ltda., Brazil.
Kluber Lubrication Munchen SF & Co. KG, Germany.
Kluber Lubrication NA LP, U.S.
Kluber Lubrication Nordic A/S, Denmark.
Kluber Lubrication Yaglama Urunleri Sanayi ve Ticaret A.S., Turkey.
Korea Filtration Technologies Co. Ltd., South Korea.
Lakes Region Manufacturing LLC, U.S.
Lederer GmbH, Germany.
Ludowici Sealing Solutions Pty. Ltd., Australia.
Marelli & Berta Interfodere S.A.S. di Externa Holding S.r.l., Italy.
Marelli e Berta S.A.S. di Externa Holding S.r.l., Italy.
Merkel Freudenberg Fluidtechnic GmbH, Germany.
Ningbo E&J Brushes Co. Ltd., China.
OKS Spezialschmierstoffe GmbH, Germany.
OU Merinvest, Estonia.
Politex S.a.s. di Freudenberg Politex S.r.l., Italy.
Polymer Health Technology Ltd., U.K.
PT EagleBurgmann Indonesia, Indonesia.
PT Freudenberg Household Products Indonesia, Indonesia.
PTFE Compounds Germany GmbH, Germany.
Scott-Matrix Ltd., U.K.
Seal Trade Eurasburg GmbH, Germany.
SurTec Cacak d.o.o., Serbia.
SurTec Chemicals India Pvt. Ltd., India.
SurTec d.o.o., Croatia.
SurTec Deutschland GmbH Zwingenberg, Germany.
SurTec do Brasil Ltda., Brazil.
SurTec France S.A.S., France.
SurTec Inc., U.S.
SurTec MMC Japan K.K., Japan.
SurTec Scandinavia ApS, Denmark.
SurTec South Africa Pty. Ltd., South Africa.
SurTex Metal Surface Treatment Technology Co. Ltd., China.
Tianjin Nibot Sealing Technology Co. Ltd., China.
Tobul Accumulator Incorporated, U.S.
TOO Freudenberg Oil & Gas, Kazakhstan.
Vector Tecnologia do Brasil Ltda., Brazil.
Vileda Gesellschaft mit beschrankter Haftung, Germany.
XETEX Trading Ltd., Hong Kong.
etc.
BUSINESS
REGISTRATION NUMBER
06871407
COMPANY
FILE NUMBER
0087831
MANAGEMENT
Managing Director: Mr. Pyong Chul
Jonathan Oh
ISSUED
SHARE CAPITAL
HK$40,000,000.00 (400,000 full paid ordinary shares)
SHAREHOLDERS
(As per registry dated 10-10-2017)
|
Name |
|
No. of shares |
|
Freudenberg Trading (Hong Kong) Ltd., Hong Kong. |
|
200,000 |
|
Japan Vilene (Hong Kong) Ltd., Hong Kong. |
|
200,000 |
|
|
|
–––––––– |
|
|
Total: |
400,000 ======= |
DIRECTORS
(As per registry dated 10-10-2017)
|
Name (Nationality) |
Address |
|
Yasuhito ESAKI |
3-8-1-208 Nakaumagome, Ota-ku, Tokyo 143-0027, Japan. |
|
Ulrich Albin SCHERBEL |
Windbauerstrabe 18, 81825 Munchen, Germany. |
|
Rene DR WOLLERT |
Kalkgasse 9a, 64625 Bensheim, Germany. |
|
Atsushi SHIMODA |
My-tower-Residence 2402, Yoyogi 1-53-1 Shibuya-ku, Tokyo 151-0053,
Japan. |
|
Pyong Chul Jonathan OH |
Suite 2502, 25/F., Sutton Court, Gateway Apartments, Harbour City,
Tsimshatsui, Kowloon, Hong Kong. |
|
Stephan Alexander WIRTZ |
Flat B, G/F., La Vista, 11 Vista Avenue, Discovery Bay, Lantau
Island, Hong Kong. |
SECRETARY
(As per registry dated 10-10-2017)
|
Name |
Address |
Co. No. |
|
Secreco Ltd. |
36/F., Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong
Kong. |
0139490 |
HISTORY
The subject was incorporated on 10th October, 1980 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Interlinings,
linings.
Employees: 26.
Commodities Imported: Imported from
Japan, Germany, etc.
Markets: Hong
Kong, China, other Asian countries, etc.
Freudenberg Group Total Sales:
€5,982.3 million (Year ended 31-12-2014)
€6,410.9 million (Year ended 31-12-2015)
€7,900.1 million (Year ended 31-12-2016)
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
The Hong Kong General Chamber of Commerce, Hong Kong. [Membership
No. HKF0228]
FINANCIAL
INFORMATION
Issued Share Capital: HK$40,000,000.00
(400,000 full paid ordinary shares)
Freudenberg Group Profit from Operation:-
€
563.4 million (Year ended
31-12-2014)
€
583.9 million (Year ended
31-12-2015)
€1,245.4 million (Year ended 31-12-2016)
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
manner.
Facilities: Making active use of general
banking facilities.
Payment: Regular.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Very Good.
GENERAL
Having issued 400,000 ordinary shares of HK$100.00 each, Freudenberg
& Vilene International Limited is equally owned by Freudenberg Trading
(Hong Kong) Ltd. and Japan Vilene (Hong Kong) Ltd. which both are
Hong Kong-registered firms.
The subject is a member of the Freudenberg Group which is the largest
and most diverse manufacturer of nonwovens in the world. The subject is a clothing accessories
trader. It is now responsible for
marketing of the Group’s products in Hong Kong, China and Southeast Asia.
Freudenberg Group is a family-owned group of companies active on the
global stage.
Freudenberg Group is an international industrial group mainly active as
a supplier to the automotive, mechanical engineering, oil and gas industries as
well as the textile and apparel industries.
The Group’s portfolio also includes medical technology and consumer
goods.
Freudenberg Group’s Customer groupings also include companies in the
medical technology, civil aviation, rail vehicles and semiconductor sectors.
Freudenberg Group develops and manufactures seals, vibration control
technology components, filters, nonwovens, surface treatment products, release
agents and specialty lubricants, medical technology, and mechatronic
products. It also develops software
solutions and IT services primarily for small- and medium-sized
enterprises. Final users enjoy the
benefits of the Group’s state-of-the-art household products marketed under the
vileda®, O’Cedar®, Gala®, SWASH® and Wettex® brands.
The Group is committed to partnerships with customers, and believes in a
long-term orientation, financial solidity and the excellence of over
40,000 associates in 60 countries around the globe.
Freudenberg has two parent companies: Freudenberg & Co.
Kommanditgesellschaft (Freudenberg & Co. KG), Weinheim, Germany, is the
strategic parent company; Freudenberg SE, Weinheim, Germany, is the parent
company with responsibility for managing business operations.
Freudenberg is a family company and is currently owned by some 320 heirs
to the founding father Carl Johann Freudenberg.
Under the organizational realignment, the formerly independent
Freudenberg Nonwovens and Freudenberg Politex Nonwovens Business Groups were
combined to form a new Business Group named Freudenberg Performance Materials
effective 1st January, 2015.
Freudenberg SE and Toray Industries, Inc. [Toray], Tokyo, Japan,
successfully made a joint public tender in 2015 to acquire all common shares in
Japan Vilene Company Ltd. [JVC], Tokyo, Japan. JVC was delisted from the stock
market on 25th December, 2015. The
remaining shareholders of JVC are Freudenberg and Toray.
For the year ended 2016, the sales of the Group amounted to €7.900.1
million, grew by 23.2% as compared with previous year which was €6,410.9
million.
Profit from operations amounted to €1,245.4 million (previous year:
€583.9 million), grew substantially.
At 31st December, 2016, the Group’s workforce totalled 46,266 employees
(previous year: 34,007 employees).
The history of the subject in Hong Kong is over 37 years and three months.
On the whole, fully supported by the Freudenberg Group, the subject is
considered good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.50 |
|
|
1 |
INR 90.92 |
|
Euro |
1 |
INR 79.07 |
|
HKD |
1 |
INR 8.13 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.