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Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
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Name : |
ASIAN
TEC LTD. |
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Registered Office : |
Unit 11, 3/F., Wah Yiu Industrial Building, 30-32 Au Pui Wan Street, Fo Tan, Shatin, New Territories |
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Country : |
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Date of Incorporation : |
30.11.1995 |
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Com. Reg. No.: |
19503005 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
subject is
dealing in water treatment equipment and related chemicals |
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No. of Employees : |
4. ( |
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 : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
ASIAN TEC LTD.
Unit 11, 3/F., Wah Yiu Industrial Building, 30-32 Au Pui Wan Street, Fo Tan, Shatin, New Territories, Hong Kong.
PHONE: 2690 1161, 2690 1210
FAX: 2690 1162, 2690 1136
E-MAIL: asiantec@netvigator.com
Managing Director: Mr. Gim Chor Kai
Incorporated on: 30th November, 1995.
Organization: Private Limited Company.
Capital: Nominal: HK$7,800,000.00
Issued: HK$7,800,000.00
Business Category: Importer and Distributor; Contractor and Engineer.
Employees: 4. (Hong Kong)
Main Dealing Banker: Wing Hang Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Unit 11, 3/F., Wah Yiu Industrial Building, 30-32 Au Pui Wan Street, Fo Tan, Shatin, New Territories, Hong Kong.
China Office:-
East Portion, 5/F., No. 2 Industrial Zone, Shahe Town, Yuengang, Guangzhou, Guangdong Province, China.
Holding Company:-
Purotec International Inc., British Virgin Islands.
Subsidiary:-
Guangzhou Asian Tec Water Treatment Ltd., China.
19503005
0532276
Managing Director: Mr. Gim Chor Kai
General Manager: Ms. May Lam Ip Kuen
Nominal Share Capital: HK$7,800,000.00 (Divided into 7,800,000 shares of HK$1.00 each)
Issued Share Capital: HK$7,800,000.00
(As per registry
dated 30-11-2011)
|
Name |
|
No. of shares |
|
GIM Chor Kai |
|
600,000 |
|
Purotec International Inc. East Asia Chambers, P.O.Box 901, Road Town, Tortola, British Virgin Islands. |
|
7,200,000 |
|
|
|
–––––––– |
|
|
Total: |
7,800,000 ======= |
(As per registry
dated 30-11-2011)
|
Name (Nationality) |
Address |
|
GIM Chor Kai |
Unit 11, 3/F., Wah Yiu Industrial Building, 30-32 Au Pui Wan Street, Fo Tan, Shatin, New Territories, Hong Kong. |
|
LAM Ip Kuen |
Flat B, 13/F., 234 Queen’s Road West, Sai Ying Pun, Hong Kong. |
(As per registry
dated 30-11-2011)
|
Name |
Address |
Co.
No. |
|
Timekeepers Co. Ltd. |
Room 503, 5/F., Kin Tak Fung Commercial Building, 467‑473 Hennessy Road, Causeway Bay, Hong Kong. |
0267483 |
The subject was incorporated on 30th November, 1995 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit 4, 15/F., Wah Yiu Industrial Building, 30-32 Au Pui Wan Street, Fo Tan, Shatin, New Territories,
Hong Kong, moved to Unit 11, 3/F. of the same building in November 2004.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Distributor; Contractor and Engineer.
Lines: Water treatment equipment and chemicals such as ARO-L reverse osmosis equipment, ARO-S reverse osmosis equipment, all-in-one high pure water equipment, industrial superfiltration system, filter equipment, ion exchange equipment & other equipment parts and instruments.
Employees: 4. (Hong Kong)
Commodities Imported: Imported from US (main) and Europe.
Market: Hong Kong, China, other Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C and T/T.
Nominal Share Capital: HK$7,800,000.00 (Divided into 7,800,000 shares of HK$1.00 each)
Issued Share Capital: HK$7,800,000.00
Alternation of
Capital:-
|
Initially |
paid up |
HK$ 2,000,000.00 |
|
10-01-2008 |
paid up |
HK$ 5,800,000.00 |
|
|
|
–––––––––––––––– |
|
Total: |
paid up |
HK$ 7,800,000.00 ============== |
Increase of
Nominal Capital:-
|
From |
HK$2,000,000.00 |
to |
HK$7,800,000.00 |
on |
10-01-2008 |
Profit or Loss: Making a small profit in the past years.
Condition: Keeping in a satisfactory manner.
Facilities: Rather actively using general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Bankers:-
· Wing Hang Bank Ltd., Hong Kong.
· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Asian Tec Ltd. was incorporated on 30th November, 1995 as a private limited company. It was jointly owned by Mr. Gim Chor Kai, holding 70% interests, and Ms. Lam Ip Kuen, holding 30%. Now, the subject is 92.3% owned by Purotec International Inc. which is a BVI-registered firm. The other 7.7% is held by Gim Chor Kai. Gim and Lam are also directors of the subject.
The subject is dealing in water treatment equipment and related chemicals. It also offers related engineering services on water treatment projects. With a group of experienced technical engineers and its advanced water treatment technology and commercial applications, the subject enjoys good reputation in this field. It has been awarded the Certificate of Membership by Water Quality Association; Permanent Member Enterprise of China Membrane Industry Association; Member of China Waste Water Recycle Association. The subject pioneers in the development and application in reverse osmosis technology and membrane technology like ultra-filtration and has been recommended by the experts in the line of business.
Having got the advanced water treatment technology in the world and the process design suitable to the China practical situation, the subjust has set up a subsidiary in China known as Guangzhou Asian Tec Water Treatment Ltd. The subsidiary is specialized in the design, produce, install and adjust the industrial water purification and treatment system, waste water recycle system, sea water desalting system, ultra-pure water treatment system, before and after pre-treatment system, de-ion water treatment system and other water, waste water treatment system, which are widely used in various industries including power, electronics, metallurgy, chemical, pharmaceutical, cosmetics, food and beverage.
The Guangzhou subsidiary has a team of technical people, advanced equipment and abundant storage, can provide a wide range of full line of system or components for various types of business and industries.
In order to offer fast and complete before and after sale services, the subject’s service network now covers Hong Kong, Guangzhou, Beijing, Shanghai, Jinan, Xi’an, Yinchuan, etc.
Since its incorporation, the subject has handled many boiler supply water of power factory projects and the users include Shandong Pingyuan Heat-Power Factory; Shanghai Yucheng Heat-power factory; Shandong Jinan Mingshui Heat-Power Factory; Tianjin Guohua Energy Development Co.; Inner Mongolia Dalate Power Factory; Inner Mongolia Wuda Power Factory; Inner Mongolia Huanghe Leather Chemical Group; Ningxia Meili Paper Group Ltd.; Taiwan Dalin Power Factory; Indonesia P.T. Putra Sumber; Indonesia P.T. Pusaka; Shaaxi Pucheng Power Factory; Shaanixi Yangling Power Factory; Henan Gongyi The Second Heat-Power Factory; Henan Dongfeng Heat-Power Factory; Henan Jiaozuo Mineral Bureau Heat-Power Factory; Hebei Dongcong Mineral Bureau Power Factory; Shenzhen Nanshan Trash Incineration Power Factory; etc.
Business of the subject is satisfactory. Ms. Lam Ip Kuen is responsible for the subject’s paper work while Mr. Gim, responsible for the sales of equipment and water treatment projects. He is an engineer in the line of business. Temporary workers are usually recruited when it has contracted a project.
As the history of the subject is over sixteen years and five months in Hong Kong, on the whole, consider it good for normal business engagements.
REMARKS:
Property information
of directors:-
Property Location: Unit A on 10/F. of Block 3, Classical Gardens, 8 Ma Wo Road, Tai Po, New Territories,
Hong Kong.
Owner: Lam Ip Kuen & Gim Chor Kai
Date of Purchase: 23-03-1998
Purchased Price: HK$4,931,000
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
23-03-1998 |
- |
Wing Hang Bank Ltd., Hong Kong. |
Legal charge to secure general banking facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.34 |
|
UK Pound |
1 |
Rs.86.09 |
|
Euro |
1 |
Rs.69.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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<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.