MIRA INFORM REPORT

 

 

Report Date :           

04.09.2011

 

IDENTIFICATION DETAILS

 

Name :

HONDA TRADING (SOUTH CHINA)  CO.  LTD.

 

 

Registered Office :

 Suite 3901-3903, 39/F., Tower One, Times Square, 1 Matheson Street, Causeway Bay

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

25.04.1995

 

 

Com. Reg. No.:

19018197

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of auto parts, steel, plastic materials, metals, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

Company name

 

HONDA  TRADING  (SOUTH  CHINA)  CO.  LTD.

 

 

Company ADDRESS

 

Suite 3901-3903, 39/F., Tower One, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong.

PHONE:                        2808 0055

FAX:                 2808 0686

 

 

MANAGEMENT

 

Managing Director:  Mr. Kazushi Mitsui

 

 

SUMMARY

 

Incorporated on:             25th April, 1995.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$1,000,000.00

Issued:              HK$1,000,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Group Net Sales:           ¥8,579,174 million  (Year ended 31-03-2010)

 

Employees:                   20.

 

Main Dealing Banker:     Sumitomo Mitsui Banking Corporation, Hong Kong Branch.

 

Banking Relation:           Good.

Company ADDRESS

 

Registered Head Office:-

Suite 3901-3903, 39/F., Tower One, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong.

 

Holding Company:-

Honda Trading Corporation, Japan.

 

Ultimate Holding Company:-

Honda Motor Co. Ltd., Japan.

 

Affiliated Companies:-

Honda Group of Companies

·         Far East Motor LCC, Russia.

·         Guangzhou Pearl Steel Center Co. Ltd., China.

·         Honda Dis Ticaret Ltd. STI, Turkey.

·         Honda Trading (China) Co. Ltd., China.

·         Honda Trading America Corporation, USA.

·         Honda Trading Asia Co. Ltd., Thailand.

·         Honda Trading Canada Inc., Canada.

·         Honda Trading Corporation India Pvt. Ltd., India.

·         Honda Trading de Argentina S.A., Argentina.

·         Honda Trading de Mexico S.A. de C.V., Mexico.

·         Honda Trading do Brasil Ltda., Brasil.

·         Honda Trading Europe Ltd., UK.

·         Honda Trading Malaysia Sdn. Bhd., Malaysia.

·         Honda Trading Philippines Corporation, Philippines.

·         Honda Trading Philippines Ecozone Corporation, Philippines.

·         Honda Trading Romania S.R.L., Romania.

·         Honda Trading Vietnam Co. Ltd., Vietnam.

·         Map Corporation, Japan.

·         Map Kumamoto Corporation, Japan.

·         Map Sayama Corporation, Japan.

·         Molten Aluminum Producer Canada Inc., Canada.

·         Molten Aluminum Producer Foshan Co. Ltd., China.

·         P.T. Honda Trading Indonesia, Indonesia.

·         P.T. Molten Aluminum Producer Indonesia, Indonesia.

·         Rajasthan Prime Steel Processing Center Pvt. Ltd., India.

·         Shanghai Honda Trading Co. Ltd., China.

·         Taiwan Honda Trading Co. Ltd., Taiwan.

·         Ulsan Engineering Co. Ltd., Korea.

·         Wuhan Honda Trading Co. Ltd., China.

·         Yantai Die & Mold Engineering Co. Ltd., China.

etc.

 

BUSINESS REGISTRATION NUMBER

 

19018197

 

 

COMPANY FILE NUMBER

 

0512291

 

 

MANAGEMENT

 

Managing Director:  Mr. Kazushi Mitsui

 

 

CAPITAL

 

Nominal Share Capital:   HK$1,000,000.00 (Divided into 100,000 shares of HK$10.00 each)

 

Issued Share Capital:     HK$1,000,000.00

 

 

SHAREHOLDER

(As per registry dated 25-04-2011)

 

Name

 

No. of shares

Honda Trading Corporation

Daiichi Tekko Building, 2F, 1-8-2 Marunouchi, Chiyoda-ku, Tokyo 100-0005, Japan.

 

100,000

======

 

DIRECTORS

(As per registry dated 01-07-2011)

 

Name

(Nationality)

 

Address

Kazushi MITSUI

8-44, 4-Chome, Nobidome, Niiza-Shi, Japan.

 

Kiyoshi YOSHIDA

4-6-N-105, Hibarigaoka, Nishi Tokyo-Shi, Japan.

 

SECRETARY 

(As per registry dated 25-04-2011)

 

Name

Address

Co. No.

Henton Investments Ltd.

Flat 5, 6/F., Lung Wan House, Lung Poon Court, Diamond Hill, Kowloon, Hong Kong.

0560447

 

 

HISTORY

 

The subject was incorporated on 25th April, 1995 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Amersham 1059 Ltd., name changed to Honda Trading (China) Co. Ltd. on 15th August, 1995; and further to the present style on 10th April, 2006.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of auto parts, steel, plastic materials, metals, etc.

 

Employees:                   20.

 

Commodities Imported:   Japan, etc.

 

Markets:                       Hong Kong, China, other Asian countries, etc.

 

Group Net Sales:           ¥  9,907,996 million  (Year ended 31-03-2006)

¥11,087,140 million  (Year ended 31-03-2007)

¥12,002,834 million  (Year ended 31-03-2008)

¥10,011,241 million  (Year ended 31-03-2009)

¥  8,579,174 million  (Year ended 31-03-2010)

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$1,000,000.00 (Divided into 100,000 shares of HK$10.00 each)

 

Issued Share Capital:     HK$1,000,000.00

 

Group Net Income:         ¥597,033 million  (Year ended 31-03-2006)

¥592,322 million  (Year ended 31-03-2007)

¥600,039 million  (Year ended 31-03-2008)

¥137,005 million  (Year ended 31-03-2009)

¥268,400 million  (Year ended 31-03-2010)

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Sumitomo Mitsui Banking Corporation, Hong Kong Branch.

 

Standing:                      Good.

 

 

GENERAL

 

Honda Trading (South China) Co. Ltd. is a wholly-owned subsidiary of Honda Trading Corporation [Honda Trading] which is a Japan-based firm.  The ultimate holding company Honda Motor Co. Ltd. [Honda] is also a Japan-based and listed firm.

The subject is trading in the products of Honda Trading and Honda.

Honda Trading was established in March 1972 as a pioneering venture imbued with Honda’s venturesome spirit.  Since that time, it has gone on to tackle various new areas of business and have grown to become an integral part of the Honda Group.

Honda Trading also has developed exclusive markets in areas such as paper recycling, agricultural products, beyond the normal sphere of Honda Group business, contributing to world health and environmental advances.

As the sole trading company in the Honda Group, Honda Trading has established an exclusive position as a “manufacturer’s trading company”, which differs substantially from general trading companies.  Backed by abundant product knowledge and information networks, Honda Trading has gained a strong reputation for reliability in QCD (Quality, Cost and Delivery), with a special focus on parts, materials, equipment and machinery for vehicular production.

Honda Trading has had the following divisions:-

·         Light Metal Division

·         Steel Division

·         Plastics and Resin Division

·         General Merchandise Business

·         Automobile Recycling Division

·         Parts Division

·         Equipment Division

·         CBU Business Operations

·         Soybean Business

·         Heal and Wellness Business

Since its establishment in 1948, Honda has remained on the leading edge by creating new value and providing products of the highest quality at a reasonable price, for worldwide customer satisfaction.  In addition, Honda has conducted its activities with a commitment to protecting the environment and enhancing safety in a mobile society.

Honda has grown to become the world's largest motorcycle manufacturer and one of the leading automakers.  With a global network of 492 subsidiaries and affiliates accounted for under the equity method, Honda develops, manufactures and markets a wide variety of products, ranging from small general-purpose engines and scooters to specialty sports cars.

For the year ended 31st March, 2010, the net sales of the Group amounted to ¥8,579,174 million, decreased by 14.3% as compared with ¥10,011,241 million in FY 2009; net income was ¥268,400 million, grew by 95.6% as compared with ¥137,005 million in FY 2009.

The subject is fully supported by Honda Trading and ultimately by the Honda Group.

As the history of the subject is over sixteen years and four months in Hong Kong, on the whole, consider it good for normal business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.90

UK Pound

1

Rs.74.31

Euro

1

Rs.65.41

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.