|
Report Date : |
01.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
HANG TUNG RESOURCES LTD. |
|
|
|
|
Registered Office : |
17/F. & 18/F., Hang Tung Resources Centre, 18 A Kung Ngam Village Road, Shaukeiwan |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
10.04.1984 |
|
|
|
|
Com. Reg. No.: |
08960567 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Exporter; Investment Holding and Property Investment. |
|
|
|
|
No. of Employees : |
45 |
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 : |
Regular |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HANG TUNG
RESOURCES LTD.
ADDRESS: 17/F. & 18/F., Hang Tung
Resources Centre, 18 A Kung Ngam Village Road, Shaukeiwan, Hong Kong.
PHONE: 2866 2168
FAX: 2866 2008
E-MAIL: ironssze@hangtung.com
Chairman: Mr. Irons Sze
Incorporated on: 10th
April, 1984.
Organization: Private
Limited Company.
Capital: Nominal: HK$20,000,000.00
Issued: HK$20,000,000.00
Business Category: Importer and Exporter; Investment Holding and Property
Investment.
Employees: 45.
Main Dealing Bankers: Bank of Communications Co. Ltd., Hong Kong Branch.
Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Good.
Registered Head Office:-
17/F. & 18/F., Hang Tung Resources Centre, 18 A Kung Ngam Village
Road, Shaukeiwan, Hong Kong.
Associated/Affiliated Companies:-
Hang Tung Godown Ltd., Hong Kong.
Hang Tung Investment (China) Ltd., Hong Kong.
Hang Tung Investment (International) Ltd., Hong Kong.
Hang Tung Realty (China) Ltd., Hong Kong.
Hang Tung Realty Investment Co. Ltd., Hong Kong.
Hang Tung Resources Finance Ltd., Hong Kong.
Hang Tung Resources Holding Ltd., Hong Kong.
Hang Tung Resources International Ltd., Hong Kong.
Hang Tung Trading Co., Hong Kong.
Integral-Kin Tung Ltd., Hong Kong.
Kin Tung Mineral Products Ltd., Hong Kong.
Tutex Publishing Ltd., Hong Kong.
Tutex Trading Co. Ltd., Hong Kong.
08960567
0135477
Chairman: Mr. Irons Sze
Nominal Share Capital: HK$20,000,000.00 (Divided into 20,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$20,000,000.00
(As per registry dated 10-04-2011)
|
Name |
|
No. of shares |
|
SZE Wing Hang |
|
2,300,000 |
|
Irons SZE |
|
5,030,000 |
|
Ivis SZE |
|
12,640,000 |
|
WU Shu Min |
|
30,000 |
|
|
|
––––––––– |
|
|
Total: |
20,000,000 ======== |
(As per registry dated 10-04-2011)
|
Name (Nationality) |
Address |
|
SZE Wing Hang |
B2, Seabranch, 31 Horizon Drive, Chung Hom Kok, Hong Kong. |
|
Ivis SZE |
C1, Seabranch, 31 Horizon Drive, Chung Hom Kok, Hong Kong. |
|
Irons SZE |
Flat A, 22/F., Ruby Court, Tower 1, 55 South Bay Road, Hong Kong. |
|
SZE Wine Him, Jaime |
8 Cooper Road, Jardine’s Lookout, Hong Kong. |
SZE Wing Hang (As per registry
dated 10-04-2011)
The subject was incorporated on 10th April, 1984 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at 10/F., Belgian House, 77-79
Gloucester Road, Wanchai, Hong Kong, moved to the present address in February
1998.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter; Investment Holding and Property Investment.
Lines: Textile
materials, cotton, etc.
Employees: 45.
Commodities Imported: Europe, India, other Asian countries, etc.
Markets: China,
Taiwan, South Korea, North Korea, East Europe, etc.
Terms/Sales:
Various terms.
Terms/Buying: As
per contracted.
The Chinese General Chamber of Commerce,
Hong Kong.
The Chinese Manufacturers’ Association of
Hong Kong, Hong Kong.
Nominal Share Capital: HK$20,000,000.00 (Divided into 20,000,000
shares of HK$1.00 each)
Issued Share Capital: HK$20,000,000.00
Mortgage or Charge (since 2005): (See attachment)
Profit or Loss: Traded at a profitable angle.
Condition: Keeping
in an active and good manner.
Facilities: Making
active use of general banking facilities.
Payment:
Prompt.
Commercial Morality: Good.
Bankers:-
Bank of Communications Co. Ltd.,
Hong Kong Branch.
Bank of China (Hong Kong) Ltd.,
Hong Kong.
Industrial & Commercial Bank of China
(Asia) Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Good.
Hang Tung Resources Ltd. is a well-established company owned by the Sze
family. The largest shareholder Mr. Ivis
Sze is holding 63.2% of the subject’s interests.
The subject is principally trading in textile materials, stone articles
and chemical products. In 1985, it set
up its first textile factory in Mongolia with Chinese partner Liaoning
Provincial Textile Industrial Bureau, a government body. It then has established factories in
Shanghai, Fujian, Jiangsu and Guangdong in the following years. Now it has about 9 associated factories in
China.
The subject is trading in textile fibres such as wool, cotton, acrylic
yarn, nylon yarn, other synthetic yarns, etc.
The subject is trading in the following commodities: raw cotton,
baseball cap, cotton lint, etc. Commodities
are imported form South Korea, India, Japan and Taiwan. Prime markets are China and the other Asian
countries. Business is active.
The subject is also an investment holding company with interests in
joint ventures in China and also owns real estate properties in Hong Kong and
China. The subject has good connection
with some of the China national organizations.
Now, the subject has had a number of affiliated/associated companies
engaged in diversified economy such as trading, real estate investments,
finance and publications. The subject
has had an associated company Kin Tung Mineral Products Ltd. which is engaged
in civil engineering construction.
Besides, the subject has had another associated company Integral-Kin
Tung Ltd. in Hong Kong. This firm is
trading in marble and granite. It is
also a marble and granite project contractor.
This firm is located at a different address.
The annual turnover of the subject and its associated companies has been
significant.
Mr. Irons Sze is also the director of Continental Holdings Ltd. which is
a listed firm in Hong Kong. He has been
elected as the 39th President of The Chinese Manufacturers’ Association of Hong
Kong.
The history of the subject in Hong Kong is over twenty-seven years and
ten months.
On the whole, consider it good for normal business engagements.
Brief information of
the principal director:-
Mr. Irons SZE (Chairman) graduated with a Bachelor’s degree in
Science from University of Wisconsin, United States in 1985. Mr. Sze has extensive experience in
investment and corporate management and is currently the chief executive
officer and managing director of a private company, Hang Tung Resources Holding
Ltd., and holds directorship in various private companies. Mr. Sze is an executive member of the Beijing
Committee of the Chinese People’s Political Consultative Conference. He is also the vice-chairman of Hunan
Province Youth Federation and the vice president of the Chinese Manufacturers’
Association of Hong Kong. He is also a
member of the Council and Court of Lingnan University (2008 to 2011) and
elected as a member of Election Committee of the Chief Executive of the Hong
Kong Special Administrative Region (2007 to 2012).
(Since 2005)
|
Date |
Particulars |
Amount |
|
05-08-2005 |
Instrument: Supplement to Security Document Property: As security for the Secured Indebtedness, the Company further charges
the Charged Assets in favour of the Lender Mortgagee: Bank of Communications Co. Ltd.,
Hong Kong Branch. |
Secured Indebtedness |
|
31-08-2007 |
Instrument: Deed of Charge Over Securities Property: The security created hereunder in respect of each of the Securities Mortgagee: Bank of Communications Co. Ltd.,
Hong Kong Branch. |
All actions, suits, proceedings, claims, demands, losses, damages,
costs, fees, expenses and/or liabilities |
|
22-02-2008 |
Instrument: Deed of Charge Over Securities Property: The security created hereunder in respect of each of the Securities Mortgagee: Bank of Communications Co. Ltd.,
Hong Kong Branch. |
All actions, suits, proceedings, claims, demands, losses, damages,
costs, fees, expenses and/or liabilities |
|
18-06-2009 |
Instrument: Deed of Indemnity, Charge Over Deposit
and Set-Off Property: By way of Fixed Charge to the Bank all the Company’s estate, right,
title, claim, benefit and interest to and in the Deposit (Account No.
02753200084665) and all interest from time to time payable thereon together
with all title deeds and documents relating thereto Mortgagee: Bank of Communications Co. Ltd.,
Hong Kong Branch. |
All actions, suits, proceedings, claims, demands, losses, damages,
costs, fees, expenses and/or liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.94 |
|
|
1 |
Rs.77.95 |
|
Euro |
1 |
Rs.65.94 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.