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Report Date : |
10.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ONESTEEL RECYCLING HONG
KONG LTD. |
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Registered Office : |
Room 2003 & 2005, 20/F., |
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Country : |
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Date of Incorporation : |
13.06.2003 |
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Com. Reg. No.: |
33692228 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of metal scraps. |
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 : |
Regular |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
ONESTEEL RECYCLING HONG KONG LTD.
Room 2003 & 2005, 20/F.,
PHONE: 2517 0920
FAX: 2583 9659
Managing Director: Mr. Greg
Bradley Armstrong
Incorporated on: 13th
June, 2003.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Importer, Exporter and Wholesaler.
Group Sales:
A$7,241.5
million (Year ended 30-06-2009)
Employees:
20.
Group Employees: 11,104. (As at 30-06-2009)
Main Dealing Banker:
Banking Relation: Satisfactory.
Registered Head Office:-
Room 2003 & 2005, 20/F.,
Holding Company:-
OneSteel Recycling Asia Ltd., Hong Kong.
(Same address)
Ultimate Holding Company:-
OneSteel Ltd.,
Affiliated Companies:-
OneSteel Group of Companies
Aquila Steel Co. Pty. Ltd.,
Australian Wire Industries Pty. Ltd.,
HP Metal Recycling (HK) Ltd.,
Ming Sing Electronics Ltd.,
OneSteel Asia Ltd.,
OneSteel Australian Tube Mills Pty. Ltd.,
OneSteel Building Supplies Pty. Ltd.,
OneSteel Coil Coaters Pty. Ltd.,
OneSteel Finance Pty. Ltd.,
OneSteel Grinding Systems
OneSteel Group (US Holdings) Inc.,
OneSteel Insurance Pte. Ltd.,
OneSteel Investments Pty. Ltd.,
OneSteel Manufacturing Pty. Ltd.,
OneSteel MBS Pty. Ltd.,
OneSteel NSW Pty. Ltd.,
OneSteel NZ Ltd.,
OneSteel Queensland Pty. Ltd.,
OneSteel Recycling (
OneSteel Recycling Holdings Pty. Ltd.,
OneSteel Recycling Inc.,
OneSteel Recycling NZ Ltd.,
OneSteel Recycling Overseas Pty. Ltd.,
OneSteel Recycling PNG Ltd., PNG.
OneSteel Recycling Pty. Ltd.,
OneSteel Reinforcing Pty. Ltd.,
OneSteel Technologies Pty. Ltd.,
OneSteel Trading Pty. Ltd.,
OneSteel
OneSteel
OneSteel
OneSteel Victoria Pty. Ltd.,
OneSteel Wire Pty. Ltd.,
etc.
33692228
849675
Director & Chief Executive (Recycling): Mr. Gregory Allan Waters
Managing Director: Mr. Greg
Bradley Armstrong
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100.00
(As per registry dated 13-06-2009)
|
Name |
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No. of shares |
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HP Metal Recycling (HK) Ltd., |
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1 |
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OneSteel Recycling Asia Ltd., Hong Kong. |
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99 |
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––– |
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Total: |
100 === |
(As per registry dated 13-06-2009)
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Name (Nationality) |
Address |
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Ronald Arthur MOLLOY |
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Greg Bradley ARMSTRONG |
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Gregory Allan WATERS |
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(As per registry dated 13-06-2009)
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Name |
Address |
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East Asia Sentinel Services Ltd. |
22/F., |
509562 |
The subject was incorporated on 13th June, 2003 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Smorgon Hartwell
Recycling (HK) Ltd., name changed to the present style on 9th May, 2008.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of metal scraps.
Employees: 20.
Group Employees: 11,104. (As at 30-06-2009)
Commodities Imported:
Markets:
Group Sales: A$3,938.5
million (Year ended 30-06-2005)
A$4,004.6 million (Year ended 30-06-2006)
A$4,300.6 million (Year ended 30-06-2007)
A$7,434.3 million (Year ended 30-06-2008)
A$7,241.5 million (Year ended 30-06-2009)
Terms/Sales:
L/C or as per contracted.
Terms/Buying: L/C, T/T, etc.
Nominal Share Capital: HK$10,000.00 (Divided
into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Group Net Profit After Tax:-
A$202.8 million (Year ended 30-06-2005)
A$287.5 million (Year ended 30-06-2006)
A$207.0 million (Year ended 30-06-2007)
A$244.9 million (Year ended 30-06-2008)
A$229.5 million (Year ended 30-06-2009)
Profit or Loss: Making a small profit every year.
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:
Standing:
OneSteel Recycling Hong Kong Ltd. is a wholly-owned subsidiary of OneSteel
Recycling Asia Ltd., a Hong Kong-registered firm located at the operating
address of the subject. The ultimate
holding company of the subject OneSteel Ltd. [OneSteel] is an Australia-based
and listed firm.
The subject belongs to the Recycling Segment of the OneSteel Group. It is responsible for the recycling of scrap
metals, zinc, aluminium, ferrous and non-ferrous metals, etc. Commodities are provided to the subject’s
affiliated mills in
The subject has set up several scrap metal collecting centres in
OneSteel is a fully integrated, global manufacturer and distributor of
steel and finished steel products, self-sufficient in both iron ore and scrap
metal, with revenues in excess of A$6 billion.
OneSteel’s major manufacturing facilities are located in
Additionally, OneSteel has more than 40 operating facilities in
In total, OneSteel services more than 30,000 customers, offers more than
40,000 products globally and employs over 11,100 people.
OneSteel manufactures and distributes structural, rail, rod, merchant
bar, cold finished bar, chrome plated bar, reinforcing, wire, tube, pipes,
fittings, valves and actuation, rail wheels and axles, steel beam, grinding
media and recycled metals. The majority
of OneSteel’s products are used in the construction, manufacturing, housing,
mining and agricultural industries.
OneSteel is an integrated, global manufacturer and distributor of steel
and finished steel products. It is self
sufficient in iron ore and has the ability to be self sufficient in scrap
metal, providing significant flexibility to the integrated model that ranges
from the mining, collection and supply of steel making raw materials through to
steel production, manufacturing and distribution in Australia and overseas. OneSteel also makes external sales of
hematite iron ore and scrap metal.
OneSteel’s business segments include:-
Iron
Recycling — Collection and sales of ferrous and non-ferrous metals for
internal use and external sales
Manufacturing — Manufacturing and value add steel products
Australian Distribution and
In the 2009 financial year, OneSteel faced a difficult economic environment
and the most challenging year on record for the steel industry due to the
impact of the Global Financial Crisis.
Despite starting the year strongly, the significant deterioration in
market conditions during the year led to a disappointing full year result. OneSteel responded quickly and strongly to
the changed conditions, resetting its cost base and strengthening its balance
sheet to better position it for facing its challenges and maximising its
opportunities from the downturn.
For the year ended 30th June, 2009, the sales of the OneSteel Group
amounted to A$7,241.5 million, decreased by 2.6% as compared with that of
A$7,434.3 million in FY 2008; net profit after tax was A$229.5 million,
decreased by 6.3% as compared with that of A$244.9 million in FY 2008.
The subject is fully supported by OneSteel.
On the whole, consider the subject good for normal business engagements.
Brief personal profile of the principal director:-
Mr. Gregory Allan WATERS, BBus (Mktg), (Chief Executive – Recycling), aged 49,
joined OneSteel in October 2008 from BlueScope Steel where he held a number of
Senior roles including President Western Port Works and President – Greater
China. Prior to this, he has held
General Management roles for BHP and Brambles in Land and Sea Transport and
Logistics located in
Court Cases: None per our.
.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
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UK Pound |
1 |
Rs.86.97 |
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Euro |
1 |
Rs.69.43 |
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 |
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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.