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Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
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Name : |
ASM PACIFIC (HONG KONG) LTD. |
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Registered Office : |
12/F., Watson Centre, 16-22 Kung Yip Street, Kwai Chung, New Territories |
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Country : |
Hong Kong. |
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Date of Incorporation : |
24.10.1995 |
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Com. Reg. No.: |
19429356 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of raw materials, spare parts for semi-conductor industry including die bonders, automatic gold wire bonders, trim form systems, aluminium wire bonders, etc. |
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No. of Employees : |
Approx. 16,500 (Group Employees) |
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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 : |
Good |
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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 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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
ASM PACIFIC
(HONG KONG) LTD.
ADDRESS: 12/F., Watson Centre, 16-22
Kung Yip Street, Kwai Chung, New Territories, Hong Kong.
PHONE: 2619 2000, 2427 9371
FAX: 2619 2118, 2619 2119
E-MAIL: admin.aaa@asmpt.com
inquire@asmpt.com
Group Executive Director & Vice Chairman: Mr. Lo Tsan Yin, Peter
Incorporated on: 24th
October, 1995.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,500,000.00
Issued: HK$500,000.00
Business Category: Importer, Exporter and Wholesaler.
ASMPT Group Turnover: HK$12,915,194,000 (Year ended 31-12-2011)
ASMPT Group Employees: Approx. 16,500. (As at 31-12-2012)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Very
Good.
Registered Office:-
4/F., Watson Centre, 16-22 Kung Yip Street, Kwai Chung,
New Territories, Hong Kong.
Head Office:-
12/F., Watson Centre, 16-22 Kung Yip Street, Kwai Chung,
New Territories, Hong Kong.
Immediate Holding Company:-
ASM Pacific Technology Ltd. [ASMPT], Cayman Islands/Hong Kong.
Intermediate Holding Company:-
ASM Pacific Holding B.V., the Netherlands.
Ultimate Holding Company:-
ASM International N.V. [ASM]
Jan Van Eycklaan 10, 3723 BC Bilthoven, the Netherlands.
[Tel: (31) 30-229 8411; Fax: (31)
30-228 7469]
Sister Companies:-
ASMPT Group of
Companies
ASM (Assembly Systems) GmbH & Co KG, Austria.
ASM (Assembly Systems) GmbH, Austria.
ASM Asia Ltd., Hong Kong.
ASM Assembly Automation Ltd., Hong Kong.
ASM Assembly Equipment (M) Sdn. Bhd., Malaysia.
ASM Assembly Equipment Bangkok Ltd., Thailand.
ASM Assembly Materials Ltd., Hong Kong.
ASM Assembly Products B.V., the Netherlands.
ASM Assembly System GmbH & Co. KG, Germany.
ASM Assembly System S. de R.L. de C.V., Mexico.
ASM Assembly Systems AB., Sweden.
ASM Assembly Systems Ltd., China.
ASM Assembly Systems Management GmbH, Germany.
ASM Assembly Systems S.r.l., Italy.
ASM Assembly Systems SAS, France.
ASM Assembly Systems Singapore Pte. Ltd., Singapore.
ASM Assembly Systems UK Ltd., UK.
ASM Assembly Systems, LLC, USA.
ASM Assembly Technology Co. Ltd., Japan.
ASM Microelectronic Technical Services (Shanghai) Co. Ltd., China.
ASM Pacific (Bermuda) Ltd., Bermuda.
ASM Pacific (Holding) Ltd., Hong Kong.
ASM Pacific Assembly Products Inc., USA.
ASM Semi-conductor Materials (Shenzhen) Co. Ltd., China.
ASM Sistemas par1 Montagem de Componentes Eletronicos Ltda, Brazil.
ASM Technology (China) Co. Ltd., China.
ASM Technology (Huizhou) Co. Ltd., China.
ASM Technology (M) Sdn. Bhd., Malaysia.
ASM Technology Asia Ltd., Hong Kong.
ASM Technology Hong Kong Ltd., Hong Kong.
ASM Technology Singapore Pte. Ltd., Singapore.
Edgeward Development Ltd., Guernsey of Channel Islands.
Edgeward Trading (Shenzhen) Ltd., China.
Shenzhen ASM Micro Electronic Technology Co. Ltd., China.
etc.
Associated/Affiliated Companies:-
ASM Group of
Companies
Advanced Semiconductor Materials (Netherlands Antilles) N.V.,
Netherlands Antille.
ASM America Inc., USA.
ASM Belgium N.V., Belgium.
ASM China Ltd., China.
ASM Europe B.V., the Netherlands.
ASM Far East Marketing Ltd., Taiwan.
ASM France S.a.r.l., France.
ASM Front-End Manufacturing Singapore Pte. Ltd., Singapore.
ASM Front-End Sales & Services Taiwan Co. Ltd., Taiwan.
ASM Genitech Korea Ltd., Korea.
ASM Germany Sales B.V., the Netherlands.
ASM Italia S.r.l., Italy.
ASM Japan K.K., Japan.
ASM Microchemistry Oy, Finland.
ASM NuTool Inc., USA.
ASM Services & Support Ireland Ltd., Ireland.
ASM Services & Support Israel Ltd., Israel.
ASM United Kingdom Sales B.V., the Netherlands.
ASM Wafer Process Equipment Ltd., Hong Kong.
ASM Wafer Process Equipment Singapore Pte. Ltd., Singapore.
etc.
19429356
0528767
Group Executive Director & Vice Chairman: Mr. Lo Tsan Yin, Peter
Nominal Share Capital: HK$1,500,000.00 (Divided into 1,500,000 shares of
HK$1.00 each)
Issued Share Capital: HK$500,000.00
(As per registry dated 24-10-2011)
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Name |
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No. of shares |
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ASM Pacific Technology Ltd. Caledonian House, George Town, Grand Cayman, Cayman Island. |
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500,000 ====== |
(As per registry dated 26-06-2012)
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Name (Nationality) |
Address |
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HUI Hon Chiu |
Flat E, Block 9, Royal Ascot, Shatin, New Territories, Hong Kong. |
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CHAN Kwai Fai |
Flat C, 14/F., Block 5, Bayview Garden, 633 Castle Peak Road, Tsuen
Wan, New Territories, Hong Kong. |
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POH Tson Cheong, Joseph |
Flat A, 27/F., Hang King Garden, 9 Wing Fong Road, Kwai Chung, New
Territories, Hong Kong. |
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LO Tsan Yin, Peter |
Flat E, 28/F., Tower 1, Sorrento, 1 Austin Road West, Tsimshatsui,
Kowloon, Hong Kong. |
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CHAN Hung |
Flat A, 35/F., Block 8, Villa Espalanada, 8 Nga Ying Chau Street,
Tsing Yi, New Territories, Hong Kong. |
(As per registry dated 24-10-2011)
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Name |
Address |
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SO Sau Ming |
Flat 913, 9/F., On Hong House, Tsz On Court, Tsz Wan Shan, Kowloon,
Hong Kong. |
The subject was incorporated on 24th October, 1995 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Celtrex Ltd.,
name changed to ASM Pacific Kor Ltd. on 25th January, 1996, and further to the
present style on 7th January, 2011.
Apart from these, neither material change nor amendment has been ever traced
and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of raw materials, spare parts for semi-conductor industry including die
bonders, automatic gold wire bonders, trim form systems, aluminium wire
bonders, etc.
ASMPT Group Employees: Approx. 16,500. (As at 31-12-2012)
Commodities Imported: Imported from Europe, South Korea, Taiwan, etc.
Markets: Europe,
US, Hong Kong, China and Asia.
ASMPT Group Turnover:-
HK$ 5,392,661,000
(Year ended 31-12-2007)
HK$ 5,258,413,000
(Year ended 31-12-2008)
HK$ 4,732,174,000
(Year ended 31-12-2009)
HK$ 9,515,089,000
(Year ended 31-12-2010)
HK$12,915,194,000 (Year ended 31-12-2011)
HK$ 5,145,291,000
(6 months ended 30-06-2012)–Unaudited
Terms/Sales:
As per contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$1,500,000.00
(Divided into 1,500,000 shares of HK$1.00 each)
Issued Share Capital: HK$500,000.00
ASMPT Group Profit Attributable to
shareholders:-
HK$2,950,119,000 (Year ended 31-12-2007)
HK$2,864,100,000 (Year ended 31-12-2008)
HK$3,410,076,000 (Year ended 31-12-2009)
HK$5,140,150,000 (Year ended 31-12-2010)
HK$6,265,795,000 (Year ended 31-12-2011)
HK$
483,606,000 (6 months ended
30-06-2010)–Unaudited
ASMPT Group Net Worth:
HK$2,950,119,000 (As at 31-12-2007)
HK$2,864,100,000 (As at 31-12-2008)
HK$3,410,076,000 (As at 31-12-2009)
HK$5,140,150,000 (As at 31-12-2010)
HK$6,265,795,000 (As at 31-12-2011)
HK$6,417,390,000 (As at 30-06-2012)–Unaudited
Profit or Loss: Group made good profits in the past years.
Condition: Business
is active and satisfactory.
Facilities: Supported
by its holding company.
Payment:
Good.
Commercial Morality: Good.
Banker:
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Very Good.
ASM Pacific (Hong Kong) Ltd. was incorporated in October 1995 as a
wholly-owned subsidiary of ASM Pacific Technology Ltd. [ASMPT], a Cayman
Islands‑registered firm with shares have been listed on The Stock Exchange
of Hong Kong Ltd. bearing stock code 522 since 3rd January, 1989. Under the same management of ASMPT, the
subject is engaged in marketing service in South Korea and trading in
semi-conductor equipment and materials in Hong Kong.
ASMPT was incorporated in the Cayman Islands on 21st November, 1988 as a
wholly owned subsidiary of the Netherlands-based firm ASM International N.V.
[ASM]. In November 1988, ASMPT went
public by offering 90 million new shares of HK$1.61 per share including 72
million new shares to the public and 18 million new shares with American
International Assurance Co., Government of Singapore Investment Corporation,
Lai Sun Development Group and Murray Johnson Fund. After the issue, ASM had reduced its
shareholdings in ASMPT to 75%.
ASMPT is an investment holding company of the ASMPT Group while ASMPT
Group is a member of the ASM Group.
The ASMPT Group is principally engaged in designing, manufacturing and
marketing of machines, tools and materials used in semiconductor industry. These products include encapsulation
equipment, leadframes and bonders. The
Group’s production facilities are located in Hong Kong, China and
Singapore. Its largest markets are in
the order of China, Taiwan, Malaysia, Hong Kong, Thailand, the Philippines,
South Korea, the United States and Latin America, Singapore, Europe, Japan,
etc.
ASM Technology Huizhou, China has been put into operation since August
2010.
In FY 2011, the ASMPT Group achieved a record turnover amounting to
HK$12,915.2 million, representing an increase of 35.7% as compared with
HK$9,515.1 million from the previous year.
The Group’s profit attributable to shareholders was HK$6,265.8 million,
increased by 21.9% as compared with previous year’s HK$5,140.2 million.
The Group achieved a turnover amounting to HK$5.1 billion in the six
months ended 30th June 2012, representing a decrease of 30.0% as compared with
HK$7.3 billion for the first six months of 2011 and a decrease of 7.6% against
the preceding six months. The Group’s
consolidated profit after taxation for the first six months of 2012 was
HK$483.6 million as compared to a profit of HK$2,444.3 million in the
corresponding period in 2011 and a profit of HK$487.7 million in the preceding
six months. Profits for the first six
months of 2011 included a non-recurring one-time gain of HK$1,084.4 million
realized from the purchase of its SMT equipment business.
The Group’s profit attributable to shareholders was just HK$483.6
million (same period of 2011: HK$2,444.3 million).
During the first half of 2012, sales attributable to its five largest
customers combined were 16.0% of the total, with no customer exceeding 10%,
demonstrating the continuing success of its aggressively diversified market
strategy. The Group also enjoys healthy
territorial diversification of its major markets. By geographical distribution, China, Europe,
Malaysia, the Americas and Taiwan have been the top five markets for the Group
in the first half of 2012. China,
inclusive of Hong Kong, remains its largest market, maintaining its share at
41.7%. It is followed by Europe (18.9%),
Malaysia (10.6%), the Americas (7.8%) and Taiwan (5.8%). Its diversified product portfolio, which has
now been expanded to include SMT placement products, also continues to be one
of its strengths. The addition of the
SMT Equipment business has increased the Group’s market presence in Europe and
the Americas. The Group’s excellent financial performance in recent
years provides clear evidence of the growing acceptance of its products by a larger
pool of customers. 80% of the Group’s
turnover in the first six-month period came from 154 customers. Four out of the top 20 customers in the first
half this year are from SMT Equipment business.
As of 30th June 2012, the total headcount of the Group worldwide stood
at approximately 16,500 people.
On the whole, in view of the subject’s parentage and Group turnover,
consider it good for normal business engagements.
Brief introduction to
the director:-
Mr. LO Tsan Yin, Peter (Group Executive Director and Vice Chairman), aged
63, was appointed to the Board as the Vice Chairman of ASMPT on 1st January,
2007. He has a Bachelor of Science
degree in Electronics Engineering from the University of Southampton,
England. Mr. Lo joined the Group in 1980. He has over 30 years of experience in the
computer and semiconductor industry.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.63 |
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1 |
Rs.86.17 |
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Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
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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.