MIRA INFORM REPORT

 

 

Report Date :

11.07.2012

 

IDENTIFICATION DETAILS

 

Name :

METALOR  TECHNOLOGIES  (HONG  KONG)  LTD.

 

 

Formerly Known As :

Metaux Precieux (Far East) Ltd

 

 

Registered Office :

Suite 1705-9, The Metropolis Tower, 10 Metropolis Drive, Hung Hom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

08.01.1974

 

 

Com. Reg. No.:

04056306

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Gold bar manufacturer and trader of Gold Bullions, etc

 

 

No. of Employees :

77.  (Including factory)

 

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 :

Good

Payment Behaviour :

No Complaints

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

 

METALOR  TECHNOLOGIES  (HONG  KONG)  LTD.

 

 

Company ADDRESS

 

Suite 1705-9, The Metropolis Tower, 10 Metropolis Drive, Hung Hom, Kowloon, Hong Kong.

PHONE:            2521 4131

FAX:                 2845 1791

 

 

MANAGEMENT

 

Managing Director:  Mr. Scott Douglas Morrison

 

 

SUMMARY

 

Incorporated on:             8th January, 1974.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000,000.00

Issued:              HK$10.000,000.00

 

Business Category:        Gold bar manufacturer and trader.

 

Group Turnover:             CHF 389,963,000  (Year ended 31-12-2011)

 

Employees:                   77.  (Including factory)

 

Main Dealing Banker:     Deutsche Bank AG, Hong Kong Branch.

 

Banking Relation:           Good.

 

Company ADDRESS

 

Registered Head Office:-

Suite 1705-9, The Metropolis Tower, 10 Metropolis Drive, Hung Hom, Kowloon, Hong Kong.

 

Holding Company:-

Metalor Technologies International S.A., Switzerland.

 

 

BUSINESS REGISTRATION NUMBER

 

04056306

 

 

COMPANY FILE NUMBEr

 

0036849

 

 

MANAGEMENT

 

Managing Director:  Mr. Scott Douglas Morrison

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000 shares of HK$1,000.00 each)

 

Issued Share Capital: HK$10.000,000.00

 

 

SHAREHOLDER

(As per registry dated 08-01-2012)

 

Name

 

No. of shares

Metalor Technologies International S.A.

2 Avenue Du, Vignoble CH-2000, Neuchatel-9 Switzerland.

 

10,000

=====

 

DIRECTORS

(As per registry dated 13-03-2012)

 

Name

(Nationality)

 

Address

Hubert Antoine Florent ANGLEYS

 

440 Rue Du Chateau 01170 Vesancy, France.

Yuxing SHANG

3 CH Des Trevisans, 1213 Onex, Switzerland.

 

Scott Douglas MORRISON

CH De Verney 15, 1009 Pully, Switzerland.

 

 

SECRETARY

(As per registry dated 08-01-2012)

 

Name

Address

POON Man Yee Wendy

Flat F, 27/F., Tower 1, Metro City, Phase 1, Tseung Kwan O, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 8th January, 1974 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Metaux Precieux (Far East) Ltd., name changed to Metalor Technologies (Hong Kong) Ltd. which is the present style on 5th March, 2001.

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

 

OPERATIONS

 

Activities:                      Gold bar manufacturer and trader.

 

Lines:                           Gold Bullions, etc.

           

Employees:                   77.  (Including factory)

 

Commodities Imported:   Europe, etc.

 

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

 

Group Turnover: CHF 335,852,000  (Year ended 31-12-2010)

CHF 389,963,000  (Year ended 31-12-2011)

 

Terms/Sales:                 As per contracted.

 

Terms/Buying:               Various terms.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$10,000,000.00 (Divided into 10,000 shares of HK$1,000.00 each)

 

Issued Share Capital:     HK$10.000,000.00

 

Mortgage or Charge:-

Date of  Security Agreement:  04-01-2012

Amount:                                    All the present and future obligations, indebtedness and liabilities

Property:                                   For the payment to Bank and the discharge of the Liabilities, a USD 10,000,000 equivalent term loan facility denominated in CNY made available by the Bank to the Borrower pursuant to the Facility Agreement

 

Mortgagee:                                Deutsche Bank (China) Co., Ltd, Shanghai Branch, China.

 

Group Net Income:                     CHF 54,941,000  (Year ended 31-12-2010)

CHF 77,901,000  (Year ended 31-12-2011)

 

Profit or Loss:                            Business is profitable.

           

Condition:                                  Keeping in a satisfactory manner.

 

Facilities:                                  Making rather active use of general banking facilities.

 

Payment:                                  Met trade commitments as required.

 

Commercial Morality:                  Satisfactory.

 

Banker:                                     Deutsche Bank AG, Hong Kong Branch.

 

Standing:                      Very Good.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1,000.00 each, Metalor Technologies (Hong Kong) Ltd. is a wholly owned subsidiary of Metalor Technologies International S.A. which is a Switzerland-based firm.

The subject is a major gold refiner in Hong Kong, has its headquarters in the Hum Hong district.  Gold refining and the manufacture of bars take place at the subject’s refinery in Kwai Chung, New Territories, Hong Kong.

The subject, established in 1974, has refined gold since 2000, when its original refinery was opened in the Aberdeen district in 1986.  In 2007, when the company acquired the assets of the Kwai Chung operations and the gold and silver businesses of Johnson Matthey Hong Kong Ltd, all refining was transferred to the former Johnson Matthey refinery in Kwai Chung.

Johnson Matthey Hong Kong Ltd had refined gold in Kwai Chung since 1993.  In 2001, its 400 oz bars were accepted as London Good Delivery by the London Bullion Market Association.  As part of the Metalor Group, the subject services the Asia-Pacific region.  It also has access to the precious metal products and services offered by the Metalor Group worldwide.

The subject is engaged in the following business scope:-

(1)                    Gold refining and the recycling of scrap;

(2)    Gold products for the jewellery, electronics and metal surface finishing industries; &

(3)                    Gold bars.

The subject normally accepts the following gold-bearing materials for

refining to specified purities up to 999.9:-

·         Semi-refined bullion;

·         Old jewellery;

·         Jewellery manufacturers scrap; &

·         Old coins and medals.

Gold refining methods include wet chemical chlorination (aqua regia), electrolysis, wet chemical parting, solvent extraction and electric furnace smelting.

The subject’s annual gold refining capacity is around 200 tonnes.

Currently, it has about 77 employees in Hong Kong.

On the whole, in view of the background, lines of business of the subject, consider it good for normal business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.81

UK Pound

1

Rs.86.53

Euro

1

Rs.68.58

 

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.