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MIRA
INFORM REPORT
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Report No. : |
499828 |
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Report Date : |
23.03.2018 |
IDENTIFICATION DETAILS
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Name : |
CHECKPOINT APPAREL LABELLING SOLUTIONS ASIA LIMITED |
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Registered Office : |
Block
A, 4/F., Shatin Industrial Centre, 5-7 Yuen Shun Circuit, Siu Lek Yuen,
Shatin, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.10.1980 |
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Com. Reg. No.: |
07132911 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Manufacturer Barcode, Label,
Prevention Label, and Prevention System |
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No. of Employees : |
15 |
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 |
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
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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, 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.
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Source
: CIA |
Company Name
CHECKPOINT APPAREL
LABELLING SOLUTIONS ASIA
LIMITED
ADDRESS: Block A, 4/F., Shatin
Industrial Centre, 5-7 Yuen Shun Circuit, Siu Lek Yuen, Shatin, New
Territories, Hong Kong.
PHONE: 852-2527
2327
FAX: 852-2527 8408
MANAGEMENT
Managing Director: Mr.
Ho Yiu
SUMMARY
Incorporated on: 10th
October, 1980.
Organization:
Private Limited
Company.
Issued Share Capital: HK$498,429,554.00
Business Category: Importer, Exporter and Manufacturer.
Group Annual Net
Revenues:
US$600 - 700
million.
Employees:
15.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Block A, 4/F., Shatin Industrial Centre, 5-7
Yuen Shun Circuit, Siu Lek Yuen, Shatin, New Territories, Hong Kong.
Holding Company:-
Checkpoint Holland Holding B.V., Netherlands.
Intermediate Holding Company:-
Checkpoint Systems, Inc., US.
Ultimate Holding Company:-
CCL Industries Inc., Canada.
Associated Companies:-
Actron UK Ltd., UK.
Adapt Identification (HK) Ltd., Hong Kong.
Adapt Identification India Private Ltd.,
India.
Adapt Identification LLC, US.
ADS (United Kingdom) Ltd., UK.
ADS Worldwide Ltd., UK.
Ashanko Ltd., Hong Kong. [Deregistration]
Brilliant Garment Accessories (Dongguan)
Ltd., China.
Brilliant Label (Dongguan) Manufacturing
Ltd., China.
Checkpoint (Jiangsu) Label Technology Co.
Ltd., China.
Checkpoint Apparel Labeling B.V.,
Netherlands.
Checkpoint Apparel Labeling Solutions
(Dongguan) Co. Ltd., China.
Checkpoint Apparel Labeling Solutions India
Private Ltd., India.
Checkpoint Apparel Labeling Solutions Korea
Inc., Korea.
Checkpoint Bangladesh Ltd., Bangladesh.
Checkpoint Caribbean Ltd., Cayman Islands.
Checkpoint Checknet Etiket Ltd. Sirketi,
Turkey.
Checkpoint Checknet India Private Ltd.,
India.
Checkpoint Commercial (Shanghai) Co. Ltd.,
China.
Checkpoint de Mexico S.A. de C.V., Mexico.
Checkpoint do Brasil Ltda., Brazil.
Checkpoint Holland Treasury B.V.,
Netherlands.
Checkpoint International L.L.C., US.
Checkpoint Labelling Services Hong Kong Ltd.,
Hong Kong.
Checkpoint Ltd., New Zealand.
Checkpoint Manufacturing Japan Co. Ltd.,
Japan.
Checkpoint Portugal Sistemas Anti-Furto S.A.,
Portugal.
Checkpoint Solutions GmbH, Germany.
Checkpoint Systems (Aust.) Pty. Ltd.,
Australia.
Checkpoint Systems (CEE) Spolka z.o.o.,
Poland.
Checkpoint Systems (M) Sdn. Bhd., Malaysia.
Checkpoint Systems (UK) Ltd., UK.
Checkpoint Systems (ZJG) Co. Ltd., China.
Checkpoint Systems AG, Switzerland.
Checkpoint Systems Bangladesh Ltd.,
Bangladesh.
Checkpoint Systems Benelux B.V., Netherlands.
Checkpoint Systems Canada ULC, Canada.
Checkpoint Systems Danmark A/S, Denmark.
Checkpoint Systems Espana S.L.U., Spain.
Checkpoint Systems Finland Oy, Finland.
Checkpoint Systems France S.A.S., France.
Checkpoint Systems FZE, UAE.
Checkpoint Systems GmbH, Germany.
Checkpoint Systems Holding GmbH, Germany.
Checkpoint Systems Holding Inc., US.
Checkpoint Systems India Private Ltd., India.
Checkpoint Systems International GmbH,
Germany.
Checkpoint Systems Italia S.p.A., Italy.
Checkpoint Systems Japan Co. Ltd., Japan.
Checkpoint Systems Ltd., Hong Kong. [Formerly known as Asange Ltd.]
Checkpoint Systems S.A., Argentina.
Checkpoint Systems Sales (M) Sdn. Bhd.,
Malaysia.
Checkpoint Systems Software Development &
Maintenance (Philippines) Inc., Philippines.
Checkpoint Systems Sverige AB, Sweden.
Checkpoint Systems Technology Singapore Pte.
Ltd., Singapore.
Checkpoint Vietnam Co. Ltd., Vietnam.
CP International Systems C.V., Netherlands.
Cybsa Adapt SA de CV, El Salvador.
Evagard Ltd., UK.
J&F International USA Inc., US.
Meto Australia Pty. Ltd., Australia.
Meto UK Ltd., UK.
OAT Systems Inc., US.
OATSystems Software India Private Ltd.,
India.
Shanghai Asialco Electronics Co. Ltd., China.
Shore to Shore (Far East) Ltd., Hong Kong.
Shore to Shore Centroamerica S.A., Guatemala.
Shore to Shore Lacar Ltda., Guatemala.
Sidep Electronics (Shanghai) Co. Ltd., China.
W Print Europe Ltd., UK.
BUSINESS REGISTRATION NUMBER
07132911
COMPANY FILE NUMBER
0087741
MANAGEMENT
Managing Director: Mr. Ho Yiu
ISSUED SHARE CAPITAL
HK$498,429,554.00 (90,000,000
fully paid ordinary shares)
SHAREHOLDER
(As per registry dated 10-10-2016)
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Name |
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No. of shares |
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Checkpoint Holland Holding B.V., Akkermansbeekweg 12, Terborg, Gelderland,
7061ZA, Netherlands. |
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90,000,000 ======== |
DIRECTORS
(As per registry dated 10-10-2016)
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Name (Nationality) |
Address |
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REN Xiaoling |
Apartment 703, No. 24 Qing Feng Bei Street,
Tianhe District, Guangzhou, China. |
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Scott Andrew MITCHELL-HARRIS |
Orchand Cottage, Westholme, Pilton Shepton
Mallet, Somerset BA4 4EW, U.K. |
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HO Yiu |
Flat B, 3/F., Tower 1, Granville Garden, 18
Pik Tin Street, Tai Wai, New Territories, Hong Kong. |
SECRETARY
(As per registry dated 10-10-2016)
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Name |
Address |
Co. No. |
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FK & C Corporate Services Ltd. |
Suite 3104-3106, 31/F., Central Plaza,
18 Harbour Road, Wanchai, Hong Kong. |
0512176 |
HISTORY
The subject was incorporated on 10th October,
1980 as a private limited liability company under the Hong Kong Companies
Ordinance.
Originally the subject was registered under
the name of Manfit Trading Co. Ltd., name changed to Brilliant Prawn Chip Ltd.
on 29th June, 1984, changed to Brilliant Label Manufacturing Ltd. on 1st
August, 1986 and further to the present style on 7th November, 2012.
On 1st May, 2017, the subject was amalgamated
with Brilliant Labels International Ltd. (CR No. 831582) and now the subject is
the amalgamated company.
Apart from these, neither material change nor
amendment has been ever traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Manufacturer.
Lines: Barcode,
Label, Prevention Label, and Prevention System
Employees: 15.
Commodities
Imported:
China, other Asian countries, etc.
Markets: Asian
countries, Europe, North America, etc.
Group Annual
Net Revenues:
US$600 - 700 million.
Terms/Sales:
L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Issued Share Capital: HK$498,429,554.00
(90,000,000 fully paid ordinary shares)
Profit or Loss: Group made a small profit in past two years.
Condition:
Keeping in a
noamal manner.
Facilities: Making rather active use of general banking
facilities.
Payment:
No
Complaints.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
GENERAL
Checkpoint
Apparel Labelling Solutions Asia Limited is a wholly-owned subsidiary of
Checkpoint Systems, Inc. [Checkpoint System] which is a US‑based company. However, Checkpoint System was acquired by
CCL Industries Inc. [CCL] which is a Canada-based company in mid-2016. Since then, CCL Industries Inc. has become
the ultimate holding company of the subject.
Besides, Checkpoint System was a listed company in the United States,
after the acquisition, Checkpoint System has been privatized and its financial
figures are no longer available.
Checkpoint
Systems, a division of CCL Industries, is a global leader in merchandise
availability solutions for the retail industry, encompassing loss prevention
and merchandise visibility.
Checkpoint
Systems is a leading global manufacturer and provider of technology-driven loss
prevention, inventory management and labelling solutions to the retail and
apparel industries. It manufactures and
sells worldwide a variety of tickets, tags and labels for customers in the
retail and apparel industry.
Applications include variable data management and printing, with size,
care, content, pricing information, and brand identification. In addition, it offers barcode printing and
integrated EAS tags for loss prevention and integrated RFID tags for item
tracking and inventory management.
Checkpoint
Systems provides end-to-end solutions enabling retailers to achieve accurate
real-time inventory, accelerate the replenishment cycle, prevent out-of-stocks
and reduce theft, thus improving merchandise availability and the shopper’s
experience.
Checkpoint
Systems’ solutions are built upon 45 years of radio frequency technology
expertise, innovative high-theft and loss-prevention solutions, market-leading
RFID hardware, RFID software, and comprehensive labelling capabilities, to
brand, secure and track merchandise from source to shelf.
Its
customers benefit from increased sales and profits by implementing merchandise
availability solutions, to ensure the right merchandise is available at the
right place and time when consumers are ready to buy.
Now
Checkpoint Systems is operating the following segments:
· Apparel
· Department Stores
· Discount & Warehouse
· Electronics
· Grocery
· Hardware & DIY
· Pharmacy
· Specialty
Checkpoint
Systems operates in every major geographic market and employs 4,700 people
worldwide.
CCL
Industries Inc., a world leader in specialty label and packaging solutions for
global corporations, small businesses and consumers, employs approximately
9,600 people and operates 87 production facilities in 25 countries on 5
continents with corporate offices in Toronto, Canada and Framingham,
Massachusetts, the United States.
The
subject’s business is fully supported by Checkpoint Systems and ultimately by
CCL. History in Hong Kong is over
37 years.
On the
whole, consider the subject good for normal business engagements in moderate
credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.06 |
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1 |
INR 92.06 |
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Euro |
1 |
INR 80.37 |
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HKD |
1 |
INR 8.30 |
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 : |
NIT |
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.