MIRA INFORM
REPORT
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Report Date : |
26.07.2011 |
IDENTIFICATION DETAILS
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Name : |
ASANO
INTERNATIONAL LTD. |
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Registered Office : |
Room 1018, 10/F., Shatin Galleria, 18-24 Shan Mei Street, Fo Tan, Shatin, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
06.12.2002 |
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Com. Reg. No.: |
33344601 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer and
Exporter of TVs, electronics and electric appliances, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Bottom of Form
Company name
ASANO INTERNATIONAL LTD.
Company ADDRESS
Room 1018, 10/F., Shatin Galleria, 18-24 Shan Mei Street, Fo Tan, Shatin, New Territories, Hong Kong.
PHONE: 2698 1089~115
FAX: 2602 7743
E-MAIL: marketing@asano-international.com
MANAGEMENT
Managing Director: Mr. Yu Chak Cheung, Toby
SUMMARY
Incorporated on: 6th December, 2002.
Organization: Private Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$5,000,000.00
Business Category: Manufacturer, Importer and Exporter.
Employees: 28.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
Room 1018, 10/F., Shatin Galleria, 18-24 Shan Mei Street, Fo Tan, Shatin, New Territories, Hong Kong.
Associated Factory:-
Foshan Asano Technology Co. Ltd.
Songxia Industrial Park, Nanhai district, Foshan City, Guangdong
Province, China.
Affiliated Company:-
Conic Electronics International Co. Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
33344601
COMPANY FILE NUMBER
0824539
MANAGEMENT
Managing Director: Mr. Yu Chak Cheung, Toby
Contact Person: Mr. Chow Wai Shing
CAPITAL
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
SHAREHOLDERS
(As per registry
dated 06-12-2010)
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Name |
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No. of shares |
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HE Xing |
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1,700,000 |
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WU Yan Ping |
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1,650,000 |
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YU Chak Cheung, Toby |
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1,650,000 |
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–––––––– |
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Total: |
5,000,000 ======= |
DIRECTORS
(As per registry
dated 16-05-2011)
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Name (Nationality) |
Address |
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YU Chak Cheung, Toby |
Flat A, 3/F., Block 8, Parc Versailles, 8 Mui Shu Hang Road, Tai Po, New Territories, Hong Kong. |
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HE Xing |
Room 1303, 101 Renmin Road, Foshan, Guangzhou, Guangdong, China. |
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WU Yan Ping |
Wen Wu Garden, 6 Yun Wu Road, Foshan, Guangzhou, Guangdong, China. |
SECRETARY
YU Chak
Cheung, Toby (As per registry dated
06-12-2010)
HISTORY
The subject was incorporated on 6th December, 2002 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Japan Asano Heavy Industries (International) Co. Ltd., name changed to the present style on 21st July, 2004.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Manufacturer, Importer and Exporter.
Lines: TVs, electronics and electric appliances, etc.
Employees: 28.
Materials/Commodities: Imports raw materials from European countries, some Asian countries and finished products from China.
Markets: Europe, North America, Japan and other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory condition.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 5 million ordinary shares of HK$1.00 each, Asano International Ltd. is jointly owned by Mr. He Xing, holding 34% interests; Mr. Wu Yan Ping, holding 33%; and Mr. Toby Yu Chak Cheung, also 33%. The first and second are China merchants and currently residing in Foshan City, Guangdong Province, China while the third is a Hong Kong merchant. They are also directors of the subject.
The subject is an electric appliance trader. It has got an associated factory in Foshan City, Guangdong Province, China known as Foshan Asano Technology Co. Ltd. [Foshan Asano].
Foshan Asano, located in Songxia Industrial Park, Nanhai district, Foshan City, Guangdong Province, is an integrated high-tech enterprise engaged in the research, design, development, production, and sales of colour televisions and other electric appliances. Its main product range covers colour TV chassis, LCD TVs, CRT TVs, TV cabinets, complete TV sets, and other related CKD and SKD components.
Foshan Asano has over 2,000 employees, of which 15 have got the degree of PhD, 20 employees have got master degree, about 50 engineers and more than 300 employees are graduated from universities. Foshan Asano has been equipped with more than 10 advanced automatic assembly lines supported by auto inserting machines, the auto spray-paint production lines, signal stimulating machines in full system, the complete technical testing instruments and more than 20 plastic injection machines. The annual production capacity of Foshan Asano is about 5,000,000 colour televisions and other components ranging in sizes from 10 to 34 inches.
At present, Foshan Asano has had closely cooperation with Philips Co. in the Netherlands, Mitsubishi Co., Sanyo Co. and Toshiba Co. in Japan. Having passed ISO 9001 approval, CCC approval, and other international approvals such as CB, CE, UL, SAA etc., Foshan Asano’s QC department ensures that all of its materials and finished products are in conformity with its stringent standards.
In recent years, Foshan Asano has sped up its whole business approach and was held in high regard by local government. On 12th February, 2003, Mr. Zhang Dejiang, the secretary of Guangdong Province, made a visit of Foshan Asano. He gave a high praise to the establishment of the factory.
The followings are the LCD and colour TV series of Foshan Asano: 15” — 63 series, 15” — 62 series, 19” — 62 series, 19” — 63 series, 18.5, 19 and 22”, 26, 27 and 32” — 65 series, 20, 27, 32” — 66 series, 26, 27, 32” — 68 series, 32, 37, 42”, 47 and 52” LCD TV, etc.
Bearing the trade marks of “Asano” and “Conic”, Most of the products are exported to Europe, North America, Central & South America, Japan and other Asian countries, the Middle East, Australia, etc. Business is rather active.
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. The subject usually takes part in Hong Kong Electronics Fair which is held in Hong Kong bi-annually.
The business of Foshan Asano is administered by Mr. He Xing and Mr. Wu Yan Ping.
The annual sales turnover of Foshan Asano ranges from RMB350 to 380 million Yuan, making a small profit every year.
The history of the subject in Hong Kong is over eight years and seven months.
On the whole, in view of the background of the subject, consider it good for normal business engagements.
COURT CASES: None per our.
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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07-03-2005 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set-Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit (Customer No. 012-1331402-6) and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities granted to Asano International Ltd. |
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01-08-2007 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set-Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit (Deposit No. 012-735-5-036020-9 for HK$738,038.00) and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities granted to Conic Electronics International Co. Ltd. |
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01-08-2007 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set-Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit (Deposit No. 012-688-5-020773-7 for HK$1,040,506.50) and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities granted to Conic Electronics International Co. Ltd. |
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01-08-2007 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set-Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit (Deposit No. 012-725-5-013608-2 for HK$1,062,714.40) and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities granted to Conic Electronics International Co. Ltd. |
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01-08-2007 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set-Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit (Deposit No. 012-735-5-029089-2 for HK$314,179.00) and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities granted to Conic Electronics International Co. Ltd. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.42 |
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UK Pound |
1 |
Rs.72.49 |
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Euro |
1 |
Rs.63.87 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.