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Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
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Name : |
SACMI
HONG KONG LTD |
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Formerly Known As : |
Tarsel Ltd |
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Registered Office : |
Room A & B, 16/F., Neich Tower, 128 Gloucester Road,
Wanchai |
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Country : |
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Date of Incorporation : |
02.07.1991 |
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Com. Reg. No.: |
15242158 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer
and Exporter of all kinds of machinery and equipment |
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No. of Employees : |
10. ( |
RATING & COMMENTS
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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 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 - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
|
Source : CIA |
SACMI HONG KONG LTD.
Room A & B, 16/F., Neich Tower, 128 Gloucester Road, Wanchai, Hong Kong.
PHONE: 2598 8373, 2598 8801
FAX: 2598 5132, 2598 7917, 2598 0950
E-MAIL: sacmihk@sacmihk.com
General Manager: Mr. Mauro Masini
Incorporated on: 2nd July, 1991.
Organization: Private Limited Company.
Capital: Nominal: HK$6,750,000.00
Issued: HK$6,750,000.00
Business Category: Machinery Trader.
Group Turnover: €1,303 million (2011)
Employees: 10. (Hong Kong)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:
Room A & B, 16/F., Neich Tower, 128 Gloucester Road, Wanchai, Hong Kong.
Foshan Commercial
Branch:-
Nanhai Economic Development Zone, North Park, Xinye North Road, Shishan Town, Nanhai District, 528222 Foshan City, Guangdong Province, China.
[ Tel: 86-757-8227 5937, 8227 5847
Fax: 86-757-8227 5867
E-mail: sacmi_foshanbranch@sacmi.cn]
Holding Company:-
H.P.S. S.p.A., Italy.
Ultimate Holding
Company:-
Sacmi Imola S.C.
Via Selice Provinciale 17/A, 40026 Imola, Bologna, Italy.
[Tel: 39 0542 607111;
Fax: 39 0542 642354]
Associated/Affiliated
Companies:-
Sacmi
Group of Companies
Alpha Ceramics GmbH, Germany.
Carle & Montanari S.p.A., Italy.
Carle & Montanari U.S.A. Inc., USA.
Fima S.r.l., Italy.
Gaiotto Automation S.p.A., Italy.
Grade Two Ltd., UK.
Hayes Machine Co. Inc., USA.
HPS - Sinergia S.p.A., Italy.
IN.TE.SA S.p.A., Italy.
Iprel Progetti S.r.l., Italy.
Italiansped Ltd., Russian Federation.
Italiansped S.p.A., Italy.
KEMAC - Sacmi Impianti S.p.A., Italy.
Keratech S.p.A., Italy.
Laeis (Dalian) Trading Co. Ltd., China.
Laeis GmbH, Luxembourg.
Matrix S.r.l., Italy.
Moldes Ceramicos S.A. de C.V., Mexico.
Molds & Dies Ltd., USA.
Negri Bossi France S.A.S., France.
Negri Bossi Inc., Canada.
Negri Bossi Ltd., UK.
Negri Bossi Mexico S.A. de C.V., Mexico.
Negri Bossi S.A., Spain.
Negri Bossi S.p.A., Itlay.
Negri Bossi USA Inc., USA.
Nuova Fima S.p.A., Italy.
Oima S.p.A., Italy.
OOO Sacmi Mosca Ltd., Russian Federation.
OPM S.p.A., Italy.
P.T. Indosped Maju Sejahtera, Indonesia.
P.T. Molds & Dies Indonesia, Indonesia.
Pet Projecta S.r.l., Italy.
Plastinject S.p.A., Italy.
Protesa S.p.A., Italy.
Riedhammer GmbH, Germany.
Riedhammer Japan Co. Ltd., Japan.
Roboline S.r.l., Italy.
Sacmi (Changshu) Machinery Equipment Co. Ltd., China.
Sacmi (Shanghai) Machinery Equipment Co. Ltd., China.
Sacmi Beverage de Mexico S.A. de C.V., Mexico.
Sacmi Beverage Venezuela C.A., Venezuela.
Sacmi de Mexico S.A. de C.V., Mexico.
Sacmi Deutschland GmbH, Germany.
Sacmi do Brasil Industria e Comercio Ltda., Brazil.
Sacmi Engineering (India) Pvt. Ltd., India.
Sacmi Filling S.p.A., Italy.
Sacmi Forni S.p.A., Italy.
Sacmi Iberica S.A., Spain.
Sacmi Impianti India, India.
Sacmi Impianti S.A. Argentina, Argentina.
Sacmi Impianti S.p.A., Italy.
Sacmi Iran Sazeh Ceramic & Material Iranian Co., Iran.
Sacmi Istanbul Sanayi Ve Tic. Ltd. Sti., Turkey.
Sacmi Labelling SCM S.p.A., Italy.
Sacmi Machinery (Foshan Nanhai) Co. Ltd., China.
Sacmi Middle East, UAE.
Sacmi Molds & Dies S.p.A., Italy.
Sacmi Packaging S.p.A., Italy.
Sacmi Pakim S.r.l., Italy.
Sacmi Polska Sp. z o.o., Poland.
Sacmi Portugal, Portugal.
Sacmi Singapore Pte. Ltd., Singapore.
Sacmi USA Ltd., USA.
Sacmi Verona S.p.A., Italy.
Sacmi Vietnam, Vietnam.
Sacmi West Europe Beverage Technology, France.
Sama Maschinenbau GmbH, Germany.
Sima S.r.l., Italy.
etc.
15242158
0316057
· General Manager: Mr. Mauro Masini
Executive Secretary: Ms. Pennie Ko
Financial Manager: Mr. Roger Lee
GM Assistant: Ms. Jennifer Yeo
Sales Manager: Mr. Li Qiang Hui
Nominal Share Capital: HK$6,750,000.00 (Divided into 6,750,000 shares of HK$1.00 each)
Issued Share Capital: HK$6,750,000.00
(As per registry
dated 02-07-2012)
|
Name |
|
No. of shares |
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H.P.S. S.p.A. Via Selice Provinciale 17/A, 40026 Imola, Bologna, Italy. |
|
6,750,000 ======= |
(As per registry
dated 02-07-2012)
|
Name (Nationality) |
Address |
|
Stefano FOSCHINI |
Via Malpighi, 29-48018 Faenza (RA), Italy. |
|
Giovanni LANCIERI |
Via Tinti nr. 9, 40026 Imola (Bologna), Italy. |
|
Valerio GUERRINI |
Via Don Minzoni G., 14-48010 Fusignano (RA), Italy. |
(As per registry
dated 02-07-2012)
|
Name |
Address |
Co.
No. |
|
Tricor Strath Ltd. |
Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong. |
0004873 |
The subject was incorporated on 2nd July, 1991 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Tarsel Ltd., name changed to the present style on 9th January, 1992.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Exporter.
Lines: All kinds of machinery and equipment.
Employees: 10. (Hong Kong)
160. (China)
Commodities Imported: Imported from Italy, Europe, US, etc.
Markets: Hong Kong, China, other Asian countries, Europe, North America, etc.
Group Turnover: €1,243 million (2007)
€1,172 million (2008)
€ 972 million (2009)
€1,030 million (2010)
€1,303 million (2011)
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
The Italian Chamber of Commerce in Hong Kong and Macao, Hong Kong.
Nominal Share Capital: HK$6,750,000.00 (Divided into 6,750,000 shares of HK$1.00 each)
Issued Share Capital: HK$6,750,000.00
Group EBIT: € 85 million (2007)
€ 84 million (2008)
€ 54 million (2009)
€ 73 million (2010)
€124 million (2011)
Group Net Worth: €533 million (2007)
€541 million (2008)
€541 million (2009)
€548 million (2010)
€572 million (2011)
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Very Good.
Sacmi Hong Kong Ltd. is a wholly-owned subsidiary of H.P.S. S.p.A. [HPS] which is an Italy-based firm. The ultimate holding company Sacmi Imola S.C. [Sacmi Imola] is also an Italy-based firm. The subject is a member of the Sacmi Group.
The subject, through its representative offices in China and Vietnam (Hanoi and Hochiminh), is promoting sales, marketing and after-sales services for and on behalf of the parent company — Sacmi Imola which is a leading manufacturer of machinery and complete plants for ceramic tiles, sanitary ware, tableware and refractory industries, as well as closure, filling, labelling and packing industries.
The subject’s services, including also the technical and technological assistance to assembly and start-up and original Sacmi spare parts warehouse, are mainly carried out in China, Vietnam, Japan, South Korea and Taiwan. Maintenance, technological assistance and after-sales are provided through the workshop and the laboratory of the Foshan office, Guangdong Province, China which now has about 160 employees working in a facility of 2,500 sq.m.
The Foshan office is formally known as Sacmi Hong Kong Ltd. Foshan Commercial Branch. Another firm known as Sacmi Machinery (Foshan Nanhai) Co. Ltd. which is also a member of the Sacmi Group is also located at the Foshan office.
The subject is engaged in providing customers with after-sales services in China. It has set up representative offices in Hanoi and Hochiminh of Vietnam, besides the Foshan office.
The Group also has set up a company in Shanghai known as Sacmi (Shanghai) Machinery Equipment Co. Ltd..
The Group’s Foshan company has then become the headquarter for the Ceramic field while Shanghai is the headquarter for the Packaging field.
The subject is the regional office of Sacmi Group and the parent company is Sacmi Imola. Sacmi Imola was founded in 1919 and its activities include complete turn-key plants for ceramic tiles, sanitary ware, tableware, refractory and packaging fields, including machinery manufacturing, complete plants supply, spare parts production and supply, technical/technological assistance and know-how.
While the Group’s core business has traditionally been – and remains – the design and construction of machines and complete plants for the ceramic industry, Sacmi has steadily branched out into other areas and now has four operating divisions, consisting of companies specialised in cutting-edge technologies:-
· Ceramics;
Beverage and Packaging;
Food Processing and
Inspection Systems; &
Plastics.
The headquarter, with the main workshop, ceramic and packaging research labs in Sacmi Imola, have employed about 1,000 staff. Thousands of Sacmi machine are in use all over the world and exports account for around 85% of the Group’s total business.
Sacmi Imola is an international group manufacturing machines and complete plants for the Ceramics, Beverage and Packaging, Processing and Plastics industries – markets in which it is a recognized worldwide leader. The strengths of both sides of the business lie in the application of innovative technology, the well-established position the Group holds on international markets and its commitment to research in order to ensure consistent top quality and service to the clients.
The 2011 Group balance sheet shows total sales of €1,303 million, representing an increase of 26.5% as compared with €1,030 million in FY 2010. Its EBIT was €124 million, grew by 69.9% as compared with €73 million in FY 2010.
The year 2011 was positive for the Sacmi Group. This was despite the Italian macro economy remaining in recession and financial pressure causing firms widespread difficulties. The improvement in revenues and margins was in part due to the major rationalisation and restructuring work that has been undertaken in recent years and continued in 2011.
Sacmi’s ceramics sector, grew considerably in 2011, by 40% at Group level and 50% in Sacmi Imola. The leading areas were the BRIC countries (Brazil, Russia, India, China), together with Iran, Italy and Turkey. As regards the restructuring of the ceramics business, events such as the acquisition of Nuova Fima and the creation of Intesa, company for the decoration development, have placed the Group in a position to offer complete vision systems for tiles, and digital printing machines.
The Sacmi Group has production plants, distribution companies and service companies in 26 countries, and the parent company in Imola (Bologna, Italy) now controls over 70 firms via the holding company HPS.
For the year ended 2011, Sacmi Group has 3,963 employees (2010: 3,795 employees) in 82 companies and more than 3,000 clients all over the world. In 2011, the total net worth of the Group stood at €572 million.
The subject is fully supported by the Sacmi Group.
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
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UK Pound |
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
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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.