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Report Date : |
20.12.2012 |
IDENTIFICATION DETAILS
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Name : |
CHEUNG KONG MACHINERY (HK) LTD. |
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Registered Office : |
Flat E, 16/F., Superluck Industrial Center, Phase 2, 57 Sha Tsui Road,
Tsuen Wan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.11.2007 |
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Reg. No.: |
38758326 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Machinery trader of All kinds of machinery & equipment, etc. |
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No. of Employees : |
10 |
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 : |
Good |
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Payment Behaviour : |
N 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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
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 re-exports, is about four times GDP. 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, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. 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 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. 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 exports 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 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% 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. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
|
Source : CIA |
CHEUNG KONG
MACHINERY (HK) LTD.
Flat E, 16/F., Superluck Industrial Center, Phase 2, 57 Sha Tsui Road,
Tsuen Wan, New Territories, Hong Kong.
PHONE: 2388 2418
FAX: 2388 9400
E-MAIL: info@chm.com.hk
Managing Director: Mr. Cheung
Cheuk Lun
Incorporated on: 30th November, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Machinery
trader.
Employees: 10.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
CHEUNG KONG
MACHINERY (HK) LTD.
Registered Head
Office:-
Flat E, 16/F., Superluck Industrial Center, Phase 2, 57 Sha Tsui Road,
Tsuen Wan, New Territories, Hong Kong.
Associated
Companies:-
Dongguan Chun Hing Mechanical Technology Co. Ltd., China.
Edmond’s Gallery Co. Ltd., Hong Kong.
Imperial Wing Co. Ltd., Hong Kong.
[Deregistered]
Shandong Cheung Kong Machinery Equipment Co. Ltd., China.
Shenzhen Cheung Kong Machinery Equipment Co. Ltd., China.
38758326
1190485
Managing Director: Mr. Cheung
Cheuk Lun
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry dated 30-11-2012)
|
Name |
|
No. of share |
|
CHUNG Cheuk Lun |
|
1 = |
(As per registry dated 30-11-2012)
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Name (Nationality) |
Address |
|
CHUNG Cheuk Lun |
Room B, 4/F. Sun Court, 3 Belcher’s Street, Kennedy Town, Hong Kong. |
(As per registry dated 30-11-2012)
|
Name |
Address |
Co. No. |
|
Kenson Secretarial Services Ltd. |
Rooms 601-602, 6/F., Kimberley House, 36 Kimberley Road,
Tsimshatsui, Kowloon, Hong Kong. |
0745095 |
The subject was incorporated on 30th November, 2007 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Smart Gain
Holdings Ltd., name changed to the present style on 2nd December, 2008.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Machinery
trader.
Lines: All
kinds of machinery & equipment, etc.
Trade Mark: CHM.
Employees: 10.
Commodities Imported: Europe,
Japan, US, etc.
Markets: China, other Asian
countries, Africa, Middle East, North America, South America, Europe, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Business
has been normal.
Facilities: Making
active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Shanghai Commercial Bank Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Good.
Cheung Kong Machinery (HK) Ltd. is wholly-owned by Mr. Chung Cheuk Lun
who is a Hong Kong merchant. The subject
has just issued one ordinary share of HK$1.00 each. Chung is also the only director of the
subject.
Incorporated in November 2007, the subject is a machinery &
equipment trader. Most of its products
bear the trade mark CHM.
The subject has registered its trade mark CHM with Trade Marks
Registry, Intellectual Property Department, the Government of the Hong Kong
SAR. This trade mark was registered on
10th May, 2006 and the expiry date is 9th May, 2016.
The subject has had a main associated company in Shenzhen Special
Economic Zone, China known as Shenzhen Cheung Kong Machinery Equipment Co. Ltd.
[Shenzhen Cheung Kong]. Shenzhen Cheung
Kong was set up in 1998. It has its own
factory in Shenzhen Special Economic Zone, Shandong Province and Dongguan City
after more than 14 years of development.
Over the past years, Shenzhen Cheung Kong focused on high speed paper
cutting machines and 4-paper cutting machines, which had made its products
became famous brand both in China and abroad.
Its products were sold to the United States, Italy, and many other
European countries.
CHM has become not only a famous brand of china, but also famous in foreign
countries.
The subject and Shenzhen Cheung Kong are specialized in manufacturing
and exporting roll paper converting machines, such as reel to sheet paper
sheeting machines, AC servo precision high speed sheet cutters, paper roll
cutting machines with photocell tracking, programmable paper cutting machines,
A4 paper sheeters, cut size sheeters, slitting and rewinding machines. The subject also manufacturers paper
packaging, embossing machines and computerized roller PP film sheet cutting
machines.
Besides marketing in China, the subject’s products are exported to the
other Asian countries, Africa, the Middle East, North America, South America,
Europe, etc. Business is rather
active. The followings are some of its
main customers:-
As the history of the subject is over five years in Hong Kong, on the
whole, consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
14-05-2010 |
Instrument: Mortgage Property: All Those 4 equal undivided 1,464 part or shares of and in All Those
pieces or parcels of groung registered in the Land Registry as Lot No. 328 In
Demarcation District No. 355, The Remaining Portion of Lot No. 339 In
Demarcation District No. 355 & Tsun Wan Inland Lot No. 44 & of and
buildings thereon now know as “Superluck Industrial Centre, Phase 2, situate
at Sha Tsui Road, Tsuen Wan, New Territories, Hong Kong Together with the
sole and exclusive right and privilege to hold use occupy and enjoy All That
Workshop E on the Sixteenth Floor of the Building Mortgagee: Shanghai Commercial Bank Ltd.,
Hong Kong. |
General banking facilities to an unlimited extent |
|
11-07-2011 |
Instrument: Charge Over Deposit -CD 1 (11) Property: A) By Fixed Charge:- All the Company rights in respect of the following:- 1) The sums deposited by the
Company or for its benefit in the account or as evidenced by deposit
instrument or other evidence of indebtedness specified in the schedule below,
including renewals of such sums, and 2) All other sums in any
currency from time to time standing to the credit of the Company or the
credit of any other person for the Company’s benefit, on any account in the
Company’s sloe or joint names maintained with the Bank or any other SCB Group
Company including renewals of such sums Mortgagee: Standard Chartered Bank
(Hong Kong) Ltd., Hong Kong. |
To secure the payment or dischange of all moneys, obligations &
liabilies |
|
02-03-2012 |
Instrument: Assignment of Life Insurance Property: 1) All the Assignor’s
claims under the Insurance:- Insurance Policy No: 28005037 Name of Insurance Co.: HSBC Life (International) Ltd. Name of the Insured: Chung Cheuk Lun Assignor / Policy Owner: Cheung Kong Machinery (HK) Ltd. 2) All the Assignor’s
claims against the issuer of the Policy Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
Secured Monies, all and any monies & liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.73 |
|
|
1 |
Rs.89.02 |
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Euro |
1 |
Rs.72.48 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.