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Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Room 3806, 38/F., Singga Commercial Centre, |
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Country : |
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Date of Incorporation : |
20.03.2007 |
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Com. Reg. No.: |
37749938 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of glass
such as float glass, insulating glass, laminated glass etc. |
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No. of Employees : |
10,000 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 SOUTHERN GLASS
TRADING CO. LTD.
Room 3806, 38/F.,
Singga Commercial Centre, 144-151 Connaught Road West, Hong Kong.
PHONE: 2559 8089
FAX: 2559 8709
Managing
Director: Mr. Liang Jinshui
Incorporated on: 20th March, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Glass Trader.
Group Revenue: RMB8,270,731,730 Yuan (Year ended 31-12-2011)
Group Employees: 10,000. (As at 31-12-2011)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
HONG
KONG SOUTHERN GLASS
TRADING CO. LTD.
Registered
Head Office:-
Room 3806, 38/F.,
Singga Commercial Centre, 144-151 Connaught Road West, Hong Kong.
Holding
Company:-
China Southern
Glass (Hong Kong) Ltd., Hong Kong. (Same
address)
Ultimate
Holding Company:-
CSG Holding Co.
Ltd.
CSG Building, No.
1, 6th Industrial Road, Shekou, Shenzhen, China.
[Tel: (86-755)
2686 0666; Fax: (86-755) 2669 2755]
Affiliated Companies:-
CSG Group of Companies
Beihai CSG Industrial Development Co. Ltd., China.
Chengdu CSG Glass Co. Ltd., China.
China Southern Glass (Australia) Pty. Ltd., Australia.
CSG Spandrel & Tempered Glass Co. Ltd., China.
Dongguan CSG Architectural Glass Co. Ltd., China.
Dongguan CSG Ceramics Technology Co. Ltd., China.
Dongguan CSG PV-Tech Co. Ltd., China.
Dongguan CSG Solar Glass Co. Ltd., China.
Guangzhou CSG Glass Co. Ltd., China.
Hainan CSG Industrial Development Co. Ltd., China.
Hainan Wen Chang CSG Silica Sand Mine Co. Ltd., China.
Hebei CSG Glass Co. Ltd., China.
Shenzhen CSG Architectural Glass Co. Ltd., China.
Shenzhen CSG Display Technology Co. Ltd., China.
Shenzhen CSG Float Glass Co. Ltd., China.
Shenzhen CSG PV-Tech Co. Ltd., China.
Shenzhen CSG Southern Star Glass Processing Co. Ltd., China.
Shenzhen CSG Structure Ceramics Co. Ltd., China.
Shenzhen CSG Wellight Coating Glass Co. Ltd., China.
Shenzhen CSG Wellight Conductive Coating Co. Ltd., China.
Sichuan CSG Industrial Development Co. Ltd., China.
Sichuan Luxian CSG Silica Sand Mine Co. Ltd., China. [In liquidation]
Tianjin CSG Architectural Glass Co. Ltd., China.
Tianjin CSG Industrial Development Co. Ltd., China.
Tianjin Energy Conservation Glass Co. Ltd., China.
Wujiang CSG North-East Architectural Glass Co. Ltd., China.
Yichang CSG Silicon Co. Ltd., China.
etc.
37749938
1116534
Chairman
& Chief Executive Officer: Mr. Zeng
Nan
Managing
Director: Mr. Liang Jinshui
Nominal Share
Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,000,000.00
(As per registry dated 20-03-2012
|
Name |
|
No.
of shares |
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China Southern Glass (Hong Kong) Ltd., Hong
Kong. |
|
1,000,000 ======= |
(As per registry dated 20-03-2008)
|
Name (Nationality) |
Address |
|
LUO Youming |
Room 703, Block C, Nam Bo Garden, Nam Shan
District, Shenzhen, China. |
|
WU Guobin |
302, 6th Building, Yitian Garden, Futian
District, Shenzhen, China. |
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LIANG Jinshui |
Flat F, 11/F., Block 1, Connaught Garden,
Connaught Road West, Hong Kong. |
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ZENG Nan |
A-901, Haixin Garden, Shekou, Shenzhen,
China. |
(As per registry dated 20-03-2012)
|
Name |
Address |
|
LIN
Hai |
Flat F, 5/F., Block 3, Connaught Garden, 155 Connaught Road West, Sai
Ying Pun, Hong Kong. |
The
subject was incorporated on 20th March, 2007 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, Exporter and Wholesaler.
Lines: All kinds of glass such as float glass, insulating glass, laminated glass, tempered and heat strengthened glass, solar reflective glass, low-E coated glass, glass in building, fine glass, automotive glass, electrical ceramic and construction ceramic, etc.
Group Employees: 10,000. (As at 31-12-2011)
Materials/Commodities: Bought raw materials from Europe and China.
Markets: Hong Kong (main), Taiwan, Southeast Asia, Europe, US, etc.
Group Revenue:-
RMB5,279,100,133 Yuan (Year ended 31-12-2009)
RMB7,743,941,694 Yuan (Year ended 31-12-2010)
RMB8,270,731,730 Yuan (Year ended 31-12-2011)
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Group Net Profit Attributable to Equity Holders:-
RMB 831,944,393 Yuan (Year ended 31-12-2009)
RMB1,455,209,218 Yuan (Year ended 31-12-2010)
RMB1,178,229,197 Yuan (Year ended 31-12-2011)
Group Profit or Loss: Business is profitable.
Condition: Keeping in a normal manner.
Facilities: Making active use of general banking facilities.
Payment: Regularly met.
Commercial Morality: Satisfactory.
Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Very Good.
Having
issued 1 million ordinary shares of HK$1.00 each, Hong Kong Southern Glass
Trading Co. Ltd. is a wholly owned subsidiary of China Southern Glass (Hong
Kong) Ltd. [CSGHKL]. In turn CSGHKL is a
wholly-owned subsidiary of CSG Holding Co. Ltd. [CSG] which is a public listed
company in China of which shares are quoted on the Shenzhen Stock Exchange.
Founded
in 1984, CSG, formerly known as China Southern Glass Co. Ltd., is a
joint-venture holding company. CSG
issued A and B stock in Shenzhen Stock Exchange in February 1992. It is one of the earliest company came into
China stock market. CSG has a total
capital of RMB3 billion Yuan and has over 25 subsidiaries in China and branches
in the United States and Australia.
CSG
focuses in manufacturing flat glass, architectural glass, silicon materials,
float glass, insulating glass, laminated glass, tempered and heat strengthened
glass, solar reflective glass, low-E coated glass, glass in building, fine
glass, automotive glass, TCO glass, electrical ceramic and construction
ceramic, etc. The products covered all
the glass industry and electrical high technology fields.
CSG
has the head office in Shenzhen and the major manufacturing operations in
Shenzhen, Guangzhou and Tianjin. Its
products are sold not only in China, Hong Kong, Taiwan, but also sold to the
United States, the United Kingdom, Canada, Australia, Italy, New Zealand,
Singapore, Malaysia, Thailand, Philippines, Japan and South Korea. CSG has become one of the most competitive manufacturers
of glass in China and has been famed in glass industry all over the world.
CSG
has got several large production bases in Shenzhen, Guangzhou, Dongguan,
Tianjin, Chengdu, Yichang, Suzhou and Hainan province, etc. There are more than
30 sales networks nodes in many large and medium-sized domestic cities, and has
subsidiary companies in Australia besides Hong Kong.
Dongguan
CSG Solar Glass Co. Ltd, one of the subsidiary companies of the Group engaged
in producing and selling super white glass, has been put into production.
On
25th October, 2010, CSG offered corporate bond amounted to RMB2 billion Yuan in
total. The bond had two products which
bear 5-year and 7-year respectively.
Mr.
Zeng Nan is the Chairman of the Board and CEO of CSG.
For
the year ended 31st December, 2011, the revenue of the Group amounted to
RMB8,270.7 million Yuan, grew by 6.8% as compared with RMB7,743.9 million Yuan
in FY 2010; net profit attributable to equity holders amounted to RMB1,178.2
million Yuan, decreased by 19.0% as compared with RMB1,455.2 million Yuan in FY
2010.
CSGHKL
was set up in Hong Kong as one of the Group’s marketing arms. It commenced business in January 2003 and is
responsible for trading in glass in Hong Kong.
For the FY 2011, CSGHKL recorded a sales turnover of RMB258 million Yuan
and total assets amounted to RMB1,252 million Yuan.
For
the year ended 2010, the Group had about 10,000 employees.
On
the whole, in view of the parentage and background of the subject, consider it good
for normal business engagements.
None as per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.58 |
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|
1 |
Rs.87.14 |
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Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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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 |
|
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 |
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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.