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MIRA INFORM REPORT
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Report No. : |
495652 |
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Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
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Name : |
BUREAU VERITAS
HONG KONG LIMITED |
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Registered Office : |
1/F. & Room 822-824, 8/F., Pacific Trade Centre, 2 Kai Hing Road,
Kowloon Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.10.2004 |
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Com. Reg. No.: |
35027188 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler, Testing Services of Auto Parts & Accessories‚ Baby Products‚ Books & Printed Items‚ Electronics & Electrical Appliances‚ Environmental Protection‚ Eyewear & Accessories‚ Food & Beverages‚ Footwear‚ Furniture & Furnishings‚ Garments, Textiles & Accessories‚ Gifts & Premiums‚ Handbags & Travel Goods‚ Health & Beauty‚ Household Products‚ Jewellery‚ Packaging Materials‚ Raw Materials‚ Sports Goods‚ Stationery & Office Equipment‚ Toys & Games‚ Watches & Clocks‚ Hardware‚ Chemicals. |
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No. of Employees : |
350. (Including Associated
Companies) |
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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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, 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. In
2017, Chief Executive Lam announced plans to increase government spending on
research and development, education, and technological innovation with the aim
of spurring continued economic growth through greater sector diversification.
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Source
: CIA |
Company
name & address
BUREAU VERITAS HONG
KONG LIMITED
ADDRESS: 1/F. & Room 822-824, 8/F., Pacific
Trade Centre, 2 Kai Hing Road, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 852-2331 0888
FAX: 852-2331 0889
MANAGEMENT
Managing Director: Mr. Timothy
Oliver Butler
SUMMARY
Incorporated on: 21st October, 2004.
Organization: Private Limited Company.
Issued Share Capital: HK$2,801,971,514.00
Business Category: Importer,
Exporter and Wholesaler, Testing Services, etc.
Group Revenue: EUR 4,689.4 million (Year ended 31-12-2017)
Employees: 350. (Including associated companies)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Very Good.
Name
BUREAU VERITAS HONG KONG LIMITED
ADDRESS
Registered Head
Office:-
1/F. & Room 822-824, 8/F., Pacific Trade Centre, 2 Kai Hing Road,
Kowloon Bay, Kowloon, Hong Kong.
Holding Company:-
Bureau Veritas International S.A.S., France.
Ultimate Holding
Company:-
Bureau Veritas S.A., France.
Associated
Companies:-
Bereau Veritas Certification Holding S.A.S, France.
BIVAC BV Rotterdam, Netherlands.
BIVAC International S.A., France.
Bureau Veritas Australia Pty. Ltd., Australia.
Bureau Veritas Consumer Products Services Hong Kong Ltd., Hong Kong.
Bureau Veritas Consumer Products Services Shanghai, Chiina.
Bureau Veritas do Brasil Sociedade Classificadora e Certificadora Ltda.,
Brazil.
Bureau Veritas Holding Inc., U.S.
Bureau Veritas Inversiones S.A., Spain.
Bureau Veritas Marine China Co. Ltd., China.
Bureau Veritas North America Inc., U.S.
Bureau Veritas Singapore Pte. Ltd., Singapore.
Bureau Veritas UK Holdings Ltd., U.K.
Bureau Veritas UK Ltd., U.K.
Inspectorate America Corporation, U.S.
MatthewsDaniel Ltd., U.K.
Maxxam Analytics International Corporation, Canada.
Tecnicontrol S.A.S., Colombia.
Bureau Veritas Group of Companies.
etc.
BUSINESS
REGISTRATION NUMBER
35027188
COMPANY
FILE NUMBER
0929181
MANAGEMENT
Managing Director: Mr. Timothy
Oliver Butler
ISSUED
SHARE CAPITAL
HK$2,801,971,514.00
SHAREHOLDER
(As per registry dated 21-10-2017)
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Name |
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No. of shares |
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Bureau Veritas International S.A.S. 67/71 boulevard du Chateau, 92200 Neuilly-sur-Seine, France. |
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2,801,971,514 ========== |
DIRECTORS
(As per registry dated 20-11-2017)
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Name (Nationality) |
Address |
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Philippe Jean LANTERNIER |
Unit 7C, No. 4 Gao’an Road, Xuhui District, Shanghai 200030, China. |
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Timothy Oliver BUTLER |
Flat PH05, 39/F., Sutton Court, Gateway Apartments, Harbour City,
Tsimshatsui, Kowloon, Hong Kong. |
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Claude MAILLOT |
House No. 21, No. 8 Lane, 3887 Hongmei Road, Shanghai, China. |
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Alexandre Francois Andre NORRE-OUDARD |
Apartment 1, 1/F., Block A, Park Place, 7 Tai Tam Reservoir Road, Hong
Kong. |
SECRETARY
As per registry dated 21-10-2017)
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Name |
Address |
Co. No. |
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TMF Secretaries (HK) Ltd. |
36/F., Tower Two Times Square, 1 Matheson Street, Causeway Bay, Hong
Kong. |
0099444 |
HISTORY
The subject was incorporated on 21st October, 2004 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, Testing Services.
Lines: Auto Parts & Accessories‚
Baby Products‚ Books & Printed Items‚ Electronics & Electrical
Appliances‚ Environmental Protection‚ Eyewear & Accessories‚ Food &
Beverages‚ Footwear‚ Furniture & Furnishings‚ Garments, Textiles &
Accessories‚ Gifts & Premiums‚ Handbags & Travel Goods‚ Health &
Beauty‚ Household Products‚ Jewellery‚ Packaging Materials‚ Raw Materials‚
Sports Goods‚ Stationery & Office Equipment‚ Toys & Games‚ Watches
& Clocks‚ Hardware‚ Chemicals.
Brand Name: BUREAU VERITAS, BV.
Employees: 350. (Including Associated Companies)
Commodities Imported: Asian
countries, Europe, North America, etc.
Markets: Worldwide
countries.
Group Revenue: EUR
3,933.1 million (Year ended 31-12-2013)
EUR 4,171.5
million (Year ended 31-12-2014)
EUR 4,634.8
million (Year ended 31-12-2015)
EUR 4,549.2
million (Year ended 31-12-2016)
EUR 4,689.4
million (Year ended 31-12-2017)
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL
INFORMATION
Issued Share Capital: HK$2,801,971,514.00
Profit or Loss: Making
a small profit every year.
Group Profit Attrubutable to Shareholders:-
EUR 345.1
million (Year ended 31-12-2013)
EUR 294.6 million (Year ended 31-12-2004)
EUR 255.3 million (Year ended 31-12-2015)
EUR 319.4 million (Year ended 31-12-2016)
EUR 308.0 million (Year ended 31-12-2017)
Condition: Keeping
in a good manner.
Facilities: Making rather active use of
general banking facilities.
Payment: Regular.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Good.
GENERAL
Bureau Veritas Hong Kong Limited is a wholly-owned subsidiary of Bureau
Veritas International S.A.S. which is a France-based company. Its ultimate holding company Bureau Veritas
S.A. [Bureau Veritas/Group] is a France-listed company.
Bureau Veritas is a global company in testing, inspection and
certification services. Bureau Veritas
offer services and solutions to ensure that their clients’ assets, products,
infrastructure and processes meet standards and regulations in terms of
quality, health and safety, environmental protection and social responsibility.
At the end of 2017, the group has about 74,000 employees in more than
1,400 offices and laboratories located in over 140 countries. It has over 400,000 clients throughout the
world.
Bureau Veritas has its headquarters in Neuilly-sur-Seine, near Paris La
Défense in France.
The subject is Bureau Veritas’ Consumer Products Services division. It is a world-leading concept-to-consumer supply
chain solutions partner working with organizations throughout the supply chain.
The subject is the quality managers for many of the world’s leading
brands, retailers and their supply chains.
With a presence in every major sourcing and selling territory around the
world, its testing, inspection, certification and advisory solutions help
companies making, distributing or selling products to improve their: product
quality, safety and compliance, sourcing flexibility, speed-to-market,
profitability and brand security throughout the supply chain.
In 2017, Bureau Veritas changed the segments reporting under the
following:
1) Marine & Offshore;
2) Agri-Food & Commodities;
3) Industry;
4) Buildings & Infrastructure;
5) Certification;
6) Consumer Products.
For the year ended 31st December, 2017, the Group’s revenue amounted to
EUR 4,689.4 million (2016: EUR 4,549.2 million). Group Profit Attributable to Shareholders was
EUR 308.0 million (2016: EUR 319.4 million).
Business is active.
The subject is fully supported by Bureau Veritas.
As the history of the subject is over thirteen years and four months in
Hong Kong, on the whole, consider it 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 |
INR 64.96 |
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1 |
INR 90.34 |
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Euro |
1 |
INR 80.75 |
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HKD |
1 |
INR 8.29 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.