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Report Date : |
05.05.2012 |
IDENTIFICATION DETAILS
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Name : |
KAILUAN ( |
|
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Registered Office : |
Unit 4302A, Level 43, Metroplaza Tower II, 223 Hing Fong Road,
Kwai Chung, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.10.2004 |
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Com. Reg. No.: |
34962470 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Coal and coal products |
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No. of Employees : |
5 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No 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 – March 31, 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 |
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Restricted |
C2 |
|
Off-credit |
D |
KAILUAN (HONG KONG)
CO. LTD.
Unit 4302A, Level 43, Metroplaza Tower II, 223 Hing Fong Road,
Kwai Chung, New Territories, Hong Kong.
PHONE: 2401 3168
FAX: 2401 3193
Managing Director: Mr. Gao
Xucheng
Incorporated on : 4th October,
2004.
Organization : Private Limited Company.
Capital: Nominal :
HK$116,700,000.00
Issued : HK$116,700,000.00
Business Category : Importer and
Exporter.
Group Total Revenue : RMB19,533,549,653.86 Yuan
(Year ended 31-12-2011)
Employees : 5.
Main Dealing Banker : Bank of Communications Co. Ltd., Hong Kong Branch.
Banking Relation : Satisfactory.
KAILUAN (HONG KONG)
CO. LTD.
Registered Head
Office:-
Unit 4302A, Level 43, Metroplaza Tower II, 223 Hing Fong Road,
Kwai Chung, New Territories, Hong Kong.
Holding Company:-
Kailuan (Group) Ltd.
Block East, 70 Xinhua East Road, 063018 Tangshan,
Hebei Province, China.
[Tel: (86-315) 281 2013, 302 2294; Fax: (86-315) 302 6507]
Associated
Companies:-
Kailuan Energy Chemical Co. Ltd., China.
Tangshan Kailuan Carbon Chemical Co. Ltd., China.
Tangshan Kailuan Thermal Power Co. Ltd., China.
Tangshan Zhonghao Chemical Co. Ltd., China.
Tangshan Zhongrun Coal Chemical Co. Ltd., China.
34962470
0925883
Managing Director: Mr. Gao
Xucheng
Nominal Share Capital: HK$116,700,000.00
(Divided into 116,700,000.00 shares of HK$1.00 each)
Issued Share Capital: HK$116,700,000.00
(As per registry
dated 05-12-2011)
|
Name |
|
No. of shares |
|
Kailuan (Group) Ltd. Block East, 70 Xinhua East Road, 063018
Tangshan, Hebei Province, China. |
|
116,700,000 ========= |
(As per registry
dated 04-10-2011)
|
Name (Nationality) |
Address |
|
GAO Xucheng |
Flat C, 36/F., Tower 6, Island Harbourview, 11 Hoi Fai Road,
Taikoktsui, Kowloon, Hong Kong. |
(As per registry
dated 04-10-2011)
|
Name |
Address |
Co. No. |
|
WLLK Secretaries Ltd. |
Room 1101, 11/F., China Insurance Group Building, 141 Des Voeux Road
Central, Hong Kong. |
1130536 |
The subject was incorporated on 4th October, 2004 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter.
Lines: Coal
and coal products.
Employees: 5.
Commodities Imported: Europe, some Asian countries, etc.
Markets: China, other Asian countries, etc.
Group Total Revenue:-
RMB
5,475,205,392.79 Yuan (Year ended
31-12-2007)
RMB
9,401,430,535.80 Yuan (Year ended
31-12-2008)
RMB10,976,710,202.51 Yuan (Year ended 31-12-2009)
RMB15,154,065,398.81 Yuan (Year ended 31-12-2010)
RMB19,533,549,653.86 Yuan (Year ended 31-12-2011)
Terms/Sales:
As per contracted.
Terms/Buying: Various
terms.
Nominal Share Capital: HK$116,700,000.00
(Divided into 116,700,000 shares of HK$1.00 each)
Issued Share Capital: HK$116,700.00
Alternation of Capital:-
|
Initially |
paid up |
HK$ 30,000,000.00 |
|
05-12-2011 |
paid up |
HK$ 86,700,000.00 |
|
|
|
–––––––––––––––––– |
|
Total: |
paid up |
HK$ 116,700,000.00 ================ |
Mortgage or Charge: (See attachment)
Group Net Income Before Taxes:-
RMB 802,132,340.15 Yuan (Year ended 31-12-2007) – Restated
RMB1,112,112,852.84 Yuan (Year
ended 31-12-2008) – Restated
RMB1,174,864,361.51 Yuan (Year
ended 31-12-2009)
RMB1,143,916,819.78 Yuan (Year
ended 31-12-2010)
RMB1,030,830,631.83 Yuan (Year
ended 31-12-2011)
Group Profit or Loss: Making a small profit every year.
Condition:
Keeping in an active manner.
Facilities:
Making active use of general banking facilities.
Payment:
Met as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Bank of Communications Co. Ltd.,
Hong Kong Branch.
Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having issued 116.7 million ordinary shares of HK$1.00 each, Kailuan
(Hong Kong) Co. Ltd. is a wholly owned subsidiary of Kailuan (Group) Ltd.
[Kailun/Kailun Group], a China-based firm.
Kailun is the holding company of Kailuan Energy Chemical Co. Ltd. [Kailuan
Energy] which is a listed firm (“A Share”) in China. Its shares are traded in Shanghai Stock
Exchange Co. Ltd.
Formerly known as Kailuan Clean Coal Co. Ltd., Kailuan Energy changed
name to the present one on 12th February, 2009.
Kailuan Energy was established by Kailuan (Group) Limited Liability
Corporation and the co-sponsors including China Cinda Asset Management
Corporation, Shanghai Baosteel International Economic & Trading
Corporation, China Huarong Assets Management Corporation, China Coal Research
Institute and Southeast Jiaotong University.
Kailuan Energy is a China-based company principally engaged in mining,
washing, processing and sale of coal products.
Its main products are metallurgical coke, washed coal, methanol, coal
tar, crude benzol and other coking products.
It distributes its products in domestic and overseas markets. As of 31st December, 2008, Kailuan Energy had
four major subsidiaries, which involved in production and processing of coal,
coke and coal tar, as well as investment business of projects.
Now, the Kailuan Group has diversified its business to produce coal
chemical products. Its business
territories has been expanded from Tangshan of Hebei Province to Inner
Mongolia, Xinjiang, Tianjin, Beijing, Ningbo, and even Canada.
The business scope of the Group covers hotel services, logistics, energy
investments, thermal power, trading, etc.
Besides, Kailuan Group is seeking an overseas initial public offering
[IPO].
The Group plans to raise around RMB15 billion Yuan initially. It has hired Beijing Zhonghan Hailian Asset
Management Co. to advise on capital-raising, including the introduction of
foreign strategic investors.
The Group targets 50 million tons of coal production per year by the end
of 2010 with operating revenue of RMB50 billion Yuan.
In 2007, Kailuan Group produced 29.79 million tons of coal.
For the year ended 31st December, 2011, the sales of the Group amounted
to RMB19.5 billion Yuan, grew by 28.3% as compared with RMB15.2 billion Yuan in
FY 2010; net income before taxes was RMB1.0 billion Yuan, decreased by 9.1% as
compared with RMB1.1 billion Yuan in FY 2010.
The total employees of the Group are about 12,456. The Group keeps on expanding.
The subject is fully supported by the Kailuan Group. History in Hong Kong is about seven years and
seven months.
On the whole, consider the subject good for normal business engagements.
|
Date |
Particulars |
Amount |
|
27-09-2005 |
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.
027-536-0-200588-8, 027-536-2-003336-2 and 027-536-9-302461-8) and all
interest from time to time payable thereon and together with all title deeds
and documents relating thereto Mortgagee: Bank of
Communications, Hong Kong Branch. |
All actions, suits, proceedings, claims, demands, losses, damages,
costs, fees, expenses and/or liabilities |
|
31-08-2009 |
Instrument: Deed of
Indemnity, Charge Over Deposit and Set-Off Property: All the Company’s estate, right, title, claim, benefit and interest to
and in the Deposit (No. 012-1768073-2) and all interest from time to time payable
thereon and together with all title deeds or documents relating thereto Mortgagee: Bank of China
(Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.72 |
|
|
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
SHG |
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.