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Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
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Name : |
MAX
BOEGL ASIA PACIFIC
LTD. |
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Registered Office : |
c/o Fiducia Ltd., 15/F., OTB Building, 160 Gloucester Road, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.05.2008 |
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Com. Reg. No.: |
39321849 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is a one-stop total solution firm – from planning
and financing to execution and operation |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Operating office in
Hong Kong |
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Payment Behaviour : |
Unknown |
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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
|
Country Name |
Previous Rating (31.03.2012) |
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.
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Source : CIA |
MAX BOEGL ASIA PACIFIC LTD.
Registered
Office:-
c/o Fiducia Ltd.
15/F., OTB Building, 160 Gloucester Road, Hong Kong.
[Tel: 2523 2171; Fax: 2810 4494]
Holding Company:-
Max Boegl International SE, Germany.
Ultimate Company:-
Max Bögl Beteiligungs GmbH, Germany.
Associated
Companies:-
Max Boegl Group of Companies
BK Infrastruktur GmbH, Germany.
Gartenstadt Wohnbau GmbH, Germany.
IBOS GmbH, Germany.
Matthias Meier & Söhne GmbH & Co. KG, Germnay.
Max Boegl Construction Ltd., Hong Kong.
Max Boegl International GmbH, Germany.
Max Bögl Bau- und Gewerbezentrurn GmbH & Co. KG, Germany.
Max Bögl Bauunternehmung GmbH & Co. KG, Germany.
Max Bögl Fertigteilwerke GmbH & Co. KG, Germany.
Max Bögl FLEMMA GmbH, Germany.
Max Bögl Grundbesitzvermietungs- u. verwaltungs GmbH & Co. KG, Germany.
Max Bögl Hoch- und Tiefbau GmbH & Co. KG, Germany.
Max Bögl Projekt 18 GmbH, Germany.
Max Bögl Projektentwicklung GmbH & Co. KG, Germany.
Max Bögl Roh- und Baustoffe GmbH & Co. KG, Germany.
Max Bögl Stahl- und Anlagenbau GmbH & Co. KG, Germany.
Max Bögl Transport u. Geräte GmbH & Co. KG, Germany.
Max Bögl Verkehrstechnik GmbH, Germany.
Max Bögl Wiesner GmbH, Germany.
Max Bögl Wind AG, Germany.
Max Bögl Windpower GmbH, Germany.
NeuerMarkt Besitz- und Vermietungs GmbH, Germany.
SMB Construction International GmbH, Germany.
Wüwa Bau GmbH & Co. KG, Germany.
etc.
39321849
1236254
13th May, 2008.
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 13-05-2012)
|
Name |
|
No. of shares |
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Max Boegl International SE Max-Boegl-Strasse 1, 92369 Sengenthal, Germany. |
|
1,000,000 ======= |
(As per registry
dated 13-05-2012)
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Name (Nationality) |
Address |
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Alfred Kneissl |
Goldmayerst. 4, D-91710, Gunzenhausen, Germany. |
|
LIU Bing |
Unit 6B, Block 19, 99 Puming Road, 200120 Shanghai, China. |
(As per registry
dated 13-05-2012)
|
Name |
Address |
Co.
No. |
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Fiducia Ltd. |
15/F., OTB Building, 160 Gloucester Road, Hong Kong. |
0113434 |
The subject was incorporated on 13th May, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.
Long time ago, the subject’s registered address was located at Suite 1114, 11/F., Ocean Centre, Harbour City, Kowloon, Hong Kong, moved to Room 1303-1305, 13/F., Wilson House, 19-27 Wyndham Street, Central, Hong Kong where was the operating address of a secretarial firm Beiten Secretaries Ltd. in December 2010, and further moved to the present address in January 2012.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Max Boegl Asia Pacific Ltd. was incorporated on 13th May, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.
Having issued 1 million ordinary shares of HK$1.00 each, the subject is wholly owned by Max Boegl International SE [Max Boegl] which is a Germany-based firm. Max Boegl and its associated companies are referred to Max Boegl Group [or Group].
The subject does not have its own operating office. Its registered office is in a commercial service firm located at 15/F., OTB Building, 160 Gloucester Road, Hong Kong known as Fiducia Ltd. which is handling its correspondences and documents. it has no employees in Hong Kong.
The directors of the subject are Dr. Liu Bing and Mr. Alfred Kneissl. The former is a Chinese holding a Germany passport while the latter is a German also holding a Germany passport. Dr. Liu Bing is in Shanghai, China.
The subject has had a subsidiary company Max Boegl Construction Ltd. [MBCL], located at the same address, which is equally owned by the subject and Vision Asia Investment Pte. Ltd. The latter is a Singapore-based firm.
The directors of MBCL are Dr. Liu Bing, Mr. Alfred Kneissl, Mr. Zhao Han Kun and Ms. Liu Jie Xia. The third and fourth are in Singapore.
The subject and MBCL are members of the Max Boegl Group. The Group now has had a number of companies in China, Germany and Singapore.
MBCL was incorporated on 5th September, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.
Founded by Max Boegl in 1929, the Max Boegl Group, headquartered in Neumarkt, Germany, can look back on a successful company history of more than 80 years. With annual sales of €1.6 billion and roughly 6,000 qualified employees, Max Boegl ranks among the top 5 of the largest German building companies. Today, continued by the third generation, the Max Boegl Group is also Germany’s largest privately-owned construction company.
Due to innovations in technology and organisation, Max Boegl has developed in the course of the decades from a provider of mere building services to an internationally operating technology and service company. Certified according to DIN EN ISO 9001:2000 and SCC, the activities range over all fields and complexity factors of the modern building industry – from structural engineering and traffic route building to civil engineering and tunnel construction to steel and plant construction, the prefabricated part manufacturing as well as supply and disposal.
The Max Boegl Group is a one-stop total solution firm – from planning and financing to execution and operation. The Group has more than 35 locations, production facilities and representations around the globe – among others, in the United Arab Emirates and the People’s Republic of China – develop new markets for innovative trendsetting products, substantiating its international orientation.
The Max Boegl Group’s leading position in modern steel construction is shown not only in the construction of the 2nd Strelasund crossing from Stralsund to Rügen island, but also in other projects like the new railway bridge across the River Rhine at Kehl, a modern arched bridge in Nijmegen or high-quality bridge constructions for the Prague bypass. As one of the leading manufacturers of pre-cast elements, in its six own pre-cast-element factories and an internationally deployed mobile production plant Max Boegl also produces pre-cast concrete elements.
The subject is fully supported by the Max Boegl Group. However, the subject’s business in Hong Kong is not active. Its history is over four years and five months.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.63 |
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UK Pound |
1 |
Rs.86.18 |
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Euro |
1 |
Rs.69.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.