MIRA INFORM REPORT

 

 

Report Date :

28.04.2012

 

IDENTIFICATION DETAILS

 

Name :

ASIA  MINERALS  LTD.

 

 

Formerly Known As :

Stanley Development Ltd.

 

 

Registered Office :

7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

23.12.1992

 

 

Com. Reg. No.:

16667234

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of mineral ore, etc.

 

 

No. of Employees :

15

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name

 

ASIA  MINERALS  LTD.

 

 

Company ADDRESS

 

7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai, Hong Kong.

PHONE:            2856 3350,  2586 3321,  2586 3333

FAX:                 2827 6552,  2511 2481

E-MAIL:                        h.suzuki@smart-alloy.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Hirotaka Suzuki

 

 

SUMMARY

 

Incorporated on:             23rd December, 1992.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$5,000,000.00

Issued:              HK$3,038,127.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   15.

 

Main Dealing Banker:     Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai, Hong Kong.

 

Holding Company:-

Sharprofit Trading Ltd., Hong Kong.

 

Associated Companies:-

AML China Ltd., China.

AML Europe SAS, France.

AML Korea Ltd., Korea.

Asia Minerals India Private Ltd., India.

Asia Minerals Investment Ltd., Hong Kong.  (Same address)

Asia Minerals Japan Ltd., Japan.

Asia Minerals North America LLC, USA.

Asia Minerals South Africa (Pty) Ltd., South Africa.

Asia Minerals Zambia Ltd., Zambia.

IMA Resource Ltd., China.

Jinzhou AML Resources Co. Ltd., China.

Mountainous Ltd., Hong Kong.

Pertama Ferroalloys Sdn. Bhd., Malaysia.

Sichuan Chuantou Emei Ferroalloy (Group) Co. Ltd., China.

etc.

 

 

BUSINESS REGISTRATION NUMBER

 

16667234

 

 

COMPANY FILE NUMBER

 

0395821

 

 

MANAGEMENT

 

Managing Director:  Mr. Hirotaka Suzuki

 

 

CAPITAL

 

Nominal Share Capital:   HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$3,038,127.00

 

SHAREHOLDERS

(As per registry dated 23-12-2011)

 

Name

 

No. of shares

Sichuan Chuantou Emei Ferroalloy (Group) Co. Ltd.

Emeishan City, 614222 Sichuan, China.

 

175,000

Mountainous Ltd., Hong Kong.

 

607,600

Sharprofit Trading Ltd., Hong Kong.

 

2,255,527

 

 

––––––––

 

Total:

3,038,127

=======

 

 

DIRECTORS

(As per registry dated 23-12-2011)

 

Name

(Nationality)

 

Address

Hirotaka SUZUKI

7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai, Hong Kong.

 

Setsuo SUZUKI

7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai, Hong Kong.

 

JIANG Jian Tao

7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai, Hong Kong.

 

 

SECRETARY

(As per registry dated 23-12-2011)

 

Name

Address

CHEUNG Yuen Bing, Belinda

7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 23rd December, 1992 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Stanley Development Ltd., name changed to the present style on 29th June, 1993.

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

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of mineral ore, etc.

 

Employees:                   15.

 

Commodities Imported:   China, Korea, Ukraine, South Africa, Australia, etc.

 

Markets:                       China, Japan, Korea, North America, Taiwan, Western Europe, etc.

 

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

 

Terms/Buying:               L/C, 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$3,038,127.00

 

Mortgage or Charge (since 2011):-

 

Date of  Security Agreement over Bank Account:  04-03-2011

 

Amount:            To secure the payment and satisfaction of all present and future obligations and liabilities

Property:           By way of a first fixed charge all of the Chargor’s rights in respect of any amount standing to the

credit of the Account

Mortgagee:        Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.

 

Profit or Loss:    Making a small profit every year.

           

Condition:          Keeping in a satisfactory manner.

 

Facilities:          Making rather active use of general banking facilities.

 

Payment:          Met trade commitments as required.

 

Commercial Morality:  Satisfactory.

 

Bankers:-

·         Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.

Indover Asia Ltd., Hong Kong.

BNP Paribas, Hong Kong Branch.

 

Standing:  Normal.

 

GENERAL

 

Having issued 3,038,127 ordinary shares of HK$1.00 each, Asia Minerals Ltd. is a joint venture between the following three firms:-

Sichuan Chuantou Emei Ferroalloy (Group) Co. Ltd., China …                                              5.76%

Mountainous Ltd., Hong Kong ……………….………………                                                 20.00%

Sharprofit Trading Ltd., Hong Kong …………………………                                                  74.24%

The subject commence business in 1993.  It is specialized in all manganese related business from ores to alloys, metals and chemicals, etc.  It is committed to provide services to its clients through its global organizations in Asia, Africa, Europe, CIS and the United States.

The subject acquired its first ferro-alloy smelting plant in Inner Mongolia in 2005 and acquired its second smelting plant in Liaoning Province in 2009.

The subject intends to become a 20% supplier of manganese to the world’s demand in 2020 through developing a manganese mine in Kalahari in South Africa and constructing a greenfield plant of manganese group ferroalloys in Sarawak in Malaysia.

The subject has had the following two projects:-

·         Kudumane Manganese Mine Project, South Africa
The mine is located in Kalahari, Northern Cape Province, South Africa.  Commercial scale production is to commence sometime during the fourth quarter (October to December) 2012.  Estimated ore reserves are 200 million tons.  Products will be, approximately 2 million per year of Grade A ore assaying Mn: 37% to 38%, F4e: 4.5%, P: 0.02% and approximately 0.9 million tonnes per year Grade B ore assaying Mn: 42%, Fe: 7%, P: 0.03%.

·         Sarawak Manganese Group Ferroalloys Plant, Malaysia
Land preparation work commenced early 2011 at Samalaju Industrial Estate, Sarawak State, where the subject has been allocated 180 hectare for the plant construction.  So far preparation of 80 hectare has been completed.  Construction of the ferroalloy plant is to commence in April 2012, with scheduled start up in the Q3 (July to September) 2013 to reach a full production stage of 330,000 tons per year by the end of 2014.

The subject is fully supported by Japanese firms.  Japan is one of its prime market.

As the history of the subject is over nineteen 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.52.68

UK Pound

1

Rs.85.12

Euro

1

Rs.69.38

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.