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Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
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Name : |
CALCO INDUSTRIAL PRODUCTS LTD. |
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Registered Office : |
Room 1201, 12/F., Lemmi Centre, 50 Hoi Yuen Road, Kwun
Tong, Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.05.1990 |
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Com. Reg. No.: |
13746435 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Garbage bin, containers, trolleys |
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No. of Employees : |
07 |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of
total system deposits in Hong Kong by the end of 2012, an increase of 59% from
the previous 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 34.9 million in 2012,
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 2012 mainland Chinese companies constituted about 46.6% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% 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, and less than 2% in 2012. Credit
expansion and tight housing supply conditions caused Hong Kong property prices
to rise rapidly and inflation to rise 4.1% in 2012. 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
CALCO INDUSTRIAL
PRODUCTS LTD.
ADDRESS: Room 1201, 12/F., Lemmi Centre, 50 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2805 5623
FAX: 852-2805 5616
E-MAIL: enquiries@calco-hk.com.hk
alfieli@netvigator.com
Managing Director: Mr. Li Man Wah, Alfie
Incorporated on: 1st May, 1990.
Organization: Private Limited Company.
Capital: Nominal:HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Importer and Exporter.
Employees: 7.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 1201, 12/F., Lemmi Centre, 50 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong.
Associated Company:-
Link Pool International Ltd., Hong Kong.
13746435
0277370
Managing Director: Mr. Li Man Wah, Alfie
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
SHAREHOLDERS: (As per registry dated 01-05-2013)
|
Name |
|
No. of shares |
|
LI Man Wah, Alfie |
|
999,900 |
|
WONG Fai Ngan, Colleen |
|
100 |
|
|
|
|
|
|
Total: |
1,000,000 ======= |
DIRECTOR: (As per registry dated 04-11-2013)
|
Name (Nationality) |
Address |
|
LI Man Wah, Alfie |
Flat G, 41/F., Block 4, The Pinnacle, 8 Wan Hang Road, Tseung Kwan O, Kowloon, Hong Kong. |
LI Man Wah, Alfie (As
per registry dated 01-05-2013)
The subject was incorporated on 1st May, 1990 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Brave Keen Ltd., name changed to Alco (China) Ltd. on 21st November, 1996, and further to the present style on 7th May, 1997.
Formerly the subject was located at Unit B, 7/F., Yiko Industrial Building, 10 Ka Yip Street, Chai Wan, Hong Kong, moved to the present address in July 2011.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Exporter.
Lines: Garbage bin, containers, trolleys
Employees: 7.
Commodities Imported: Europe, etc.
Markets: Hong Kong, China, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
GOVERNMENT
CONTRACTS AWARDED SINCE 1990:
|
Date |
GN No. |
Particulars |
Amount |
|
26-06-1998 |
GN3146 |
Supply of 240-litre plastic rectangular refuse containers from the date of acceptance to fulfilment of contractual obligations [Tender Ref.: RCQ 2203/97(B)] |
HK$835,968 |
|
28-05-2010 |
GN3174 |
Supply of 660-litre plastic rectangular containers for refuse collection [Tender Ref.: HAQ20100006] |
HK$3,568,500 |
|
26-04-2013 |
GN2376 |
Supply of A-Frame (letters) trolleys |
HK$1,683,100 F.I.S./Hong Kong |
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
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 1 million ordinary shares of HK$1.00 each, Calco Industrial Products Ltd. is jointly owned by Mr. Li Man Wah, Alfie, holding 99.99% interests; and Ms. Wong Fai Ngan, Colleen, holding 0.01%. Seemed to be a couple, Li and Wong are also directors of the subject.
The subject had an associated company Link Pool International Ltd. [Link Pool], a Hong Kong-registered company located at its old address. Now Link Pool has moved to somewhere else.
The subject trades in the following commodities:-
Containers Plastic (industrial use for material handling);
Garbage Bins Metal;
Garbage Bins Plastic;
(includes mobile garbage bin, recycle bin, street bin, indoor bin, etc.)
Materials Handling Products;
Rabo Tricycles;
Rubber Sheets;
Security Seals; &
Trolleys.
Products are marketed in Hong Kong, China and exported to the other Asian countries, Eastern Europe, Scandinavia, Western Europe, etc. Overall business is satisfactory.
Founded in 1990, the subject started trading in rubber sheets for various industries. In the mid 1990s, its became more diversified and expanded more product ranges. In early 2000, it set up two liaison offices in Shanghai and Shenzhen Special Economic Zone respectively in order to crop with its market strategy and product development.
Since 1990, the subject has got contracts awarded by Hong Kong government in the supply of refuse containers and trolleys once in a while.
The subject carries the following brand names: RABO, ZENITH, STRAIL, ABRIC, etc. Its business is chiefly handled by the two shareholders.
As the history of the subject is over twenty-three years in Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.96 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.85.33 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
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 |
-- |
This score serves as a reference to assess SCs 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.