|
Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
MITSUBISHI RAYON
CO. LTD. |
|
|
|
|
Registered Office : |
Room 801, Tower 3, China HK City, 33 Canton Road, Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
31.08.1984 |
|
|
|
|
Legal Form : |
Non-Hong Kong Company |
|
|
|
|
Line of Business : |
--- |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Does Not Exist in Hong Kong |
|
Payment Behaviour : |
-- |
|
Litigation : |
--- |
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) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
MITSUBISHI RAYON CO. LTD.
(Also known as MITSUBISHI RAYON KABUSHIKI
KAISHA)
Registered Office:-
Room
801, Tower 3, China HK City, 33 Canton Road, Tsimshatsui, Kowloon, Hong Kong
Notes:
Your “Suite 1610-1611, 16/F., North Tower, World Finance Centre, Harbour City, Tsimshatsui, Kowloon, Hong Kong” is the registered office of the subject’s subsidiary, MRC Hong Kong Co. Ltd.
Ceased place of business in Hong Kong since 29th June, 1999.
Acry Sunday Co.
Ltd., Japan.
Asahi Plastics Co.
Ltd., Japan.
Daesan MMA Corp.,
Korea.
Dalian Rayon
Environmental Equipment Co. Ltd., China.
Dia Carpet Co.
Ltd., Japan.
Dia Mode Co. Ltd.,
Japan.
Dianal America
Inc., US.
Dia-Nitrix Co.
Ltd., Japan.
Diapolyacrylate
Co. Ltd., Thailand.
Diatec (Shanghai)
Co. Ltd., China.
Diatec Co. Ltd.,
Japan.
Du Pont-MRC Co.
Ltd., Japan.
Fujiwara Co. Ltd.,
Japan.
Grafil Inc., US.
Huizhou MMA Co.
Ltd., China.
Lucite
International Group Ltd., UK.
MEC Co. Ltd.,
Japan.
Meiho Co. Ltd.,
Japan.
Mitsubishi Rayon
(Shanghai) Co. Ltd., China.
Mitsubishi Rayon
America Inc., US.
Mitsubishi Rayon
Cleansui Co. Ltd., Japan.
Mitsubishi Rayon
Polymer Nantong Co. Ltd., China.
Mitsubishi Rayon
Textile Co. Ltd., Japan.
Mitsubushi Rayon
America Inc., US.
MRC - SGL
Precursor Co. Ltd., Japan.
MRC Asia
(Thailand) Ltd., Thailand.
MRC Composite
Products Co. Ltd., Japan.
MRC Golf Inc., US.
MRC Hong Kong Co.
Ltd., Hong Kong.
MRC Kohda Co.
Ltd., Japan.
MRC Polysaccharide
Co. Ltd., Japan.
MRC Pylen Co.
Ltd., Japan.
MRC Resins
(Thailand) Co. Ltd., Thailand.
MRC Unitec Co.
Ltd., Japan.
Nippon Rensui Co.,
Japan.
Nitto Gypsum Board
Co. Ltd., Japan.
P.T. Diachem
Resins Indonesia, Indonesia.
Ryoko Co. Ltd.,
Japan.
Ryoko Sizing Co.
Ltd., Japan.
San Esters Corp.,
US.
Sanyu Chemical Co.
Ltd., Japan.
Suzhou MRC
Opto-Device Co. Ltd., China.
Suzhou Sanyouli
Chemicals Co. Ltd., China.
Thai MMA Co. Ltd.,
Thailand.
Toei Kasei Co.
Ltd., Japan.
Tosen Co. Ltd.,
Japan.
Toyama Filter Tow
Co. Ltd., Japan.
UMG ABS. Ltd.,
Japan.
Wuxi MRC Origin
Water Membrane Tech. Co. Ltd., China.
etc.
Japan
31st August, 1984
Non-Hong Kong
Company
F0003071
(As at
26-06-1998)
President: Eiichi Taguchi
Senior Managing
Directors:-
Tsunehiro Kawai
Shigeki Yamaguchi
Takashi
Masaki
Managing
Directors:-
Hiroshi Sasawaki
Yoshiyuki Sumeragi
Hideaki Kawata
Nominal Share Capital:
¥60,000,000,000.00 (Divided into 1,200,000,000 shares of ¥50.00 per share)
Issued Share
Capital: ¥51,926,000,000.00
(As at 26-06-1998)
Yahide Kotake
Isao Yamamoto
Koji Mimura
Tatsuo Suzuki
Kazuhiko Morifuji
Hideharu Abe
Masanao Kanbara
Tomonobu Kokubu
Mitsubishi
Rayon Co. Ltd. (also known as Mitsubishi Rayon Kabushiki Kaisha) was
incorporated in Japan on 31st August, 1933 as a joint stock company. The company has established a place of
business in Hong Kong and was registered on 31st August, 1984 as a Foreign
Corporation (now known as Non-Hong Kong Company) under the Hong Kong Companies
Ordinance [Mitsubishi Rayon HK].
On
15th July, 1999, Mitsubishi Rayon HK notified to the Companies Registry under
Section 339 of the Companies Ordinance that the company ceased to have a place
of business in Hong Kong effective from 29th June, 1999.
Headquartered
in Tokyo, Japan, Mitsubishi Rayon Co. Ltd. [Mitsubishi Rayon Japan]
manufactures chemicals, plastics, and fibers and is regarded as the biggest
acrylic fiber maker in Japan. Its
business can be divided into 3 segments as follow:-
(1)
The Chemicals & Resins:
To
manufacture, process and sell products such as chemicals, molding materials,
film, boards, coating materials, plastic optical fibers, plastic rod lenses and
prism sheets;
(2)
The Textile:
To
manufacture, process and sell products that include acrylic fibers, acetate
fibers, polyester fibers and polypropylene fibers; and
(3)
The Carbon Fibers, Composite Materials and Functional Film:
To manufacture, process and sell products that include carbon
fibers, composite processed materials, hollow-fiber membrane filters,
engineering systems, freshwater equipment, water treatment equipment and
construction materials.
Presently,
the ultimate holding company of Mitsubishi Rayon Japan is Mitsubishi Chemical
Holdings Corporation [MCHC]. MCHC is a
public listed company in Japan whose shares are quoted on Tokyo Stock Exchange
and Osaka Stock Exchange.
Your
given address Suite 1610-1611, 16/F., North Tower, World Finance Centre,
Harbour City, Tsimshatsui, Kowloon, Hong Kong is the registered office of MRC
Hong Kong Co. Ltd. [MRC HK] - a
wholly-owned subsidiary of Mitsubishi Rayon Japan.
MRC
HK is one of the members of the Group and is responsible for the sale of the
Group’s products in the Pearl River Delta area in China.
Since
Mitsubishi Rayon HK has no longer existed in Hong Kong, any business dealing
with the subject is considered not advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
UK Pound |
1 |
Rs.84.59 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
|
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 |
|
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 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.