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Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
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Name : |
KOWA ASIA LTD. |
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Registered Office : |
Room 903, 9/F., Admiralty Centre, Tower 1, 18 Harcourt Road |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.11.1989 |
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Com. Reg. No.: |
13259266 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Textile Products, Non-Textile Products, Electronics Optics, Footwear, etc. |
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No. of Employees : |
10 |
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 : |
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 – June 30th, 2012
|
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
KOWA ASIA
LTD.
ADDRESS: Room 903, 9/F., Admiralty
Centre, Tower 1, 18 Harcourt Road, Hong Kong.
PHONE: 2520 2270
FAX: 2529 7714
E-MAIL: yokoi@kowa.com.hk
a_fujii@kowa.com.hk
mail@kowa.com.hk
Managing Director: Mr. Takeshi
Yamamoto
Incorporated on: 10th
November, 1989.
Organization: Private
Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$3,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
10.
Main Dealing Banker: The Bank of Tokyo-Mitsubishi UFJ Ltd., Hong Kong Branch.
Banking Relation: Good.
Registered Head Office:-
Room 903, 9/F., Admiralty Centre, Tower 1, 18 Harcourt Road,
Hong Kong.
Holding Company:-
Kowa Co. Ltd., Japan.
Associated Company:-
Career & Leaps Ltd., Japan.
D.ID Corporation, Korea.
Dong Hwa LCD Ltd., China.
Incontro Co. Ltd., Japan.
Kobot Co. Ltd., Japan.
Kohken Co. Ltd., Japan.
Kowa (Beijing) Co. Ltd., China.
Kowa (Shanghai) Co. Ltd., China.
Kowa (Shanghai) Optical Instuments International Co. Ltd., China.
Kowa (Shanghai) Pharma Consulting Co. Ltd., China.
Kowa Estate Co. Ltd., Japan.
Kowa Eyecon Co. Ltd., Japan.
Kowa Generic Co. Ltd., Japan.
Kowa India Pvt. Ltd., India.
Kowa Korea Co. Ltd., Korea.
Kowa Logistics Co. Ltd., Japan.
Kowa Pharmaceutical Co. Ltd., Japan.
Kowa Shinyaku Co. Ltd., Japan.
Kowa South East Asia Pte. Ltd., Singapore.
Kowa Technical Service Co. Ltd., Japan.
Kowa Twiwan Tsusho Co. Ltd., Taiwan.
Maruei Department Store Co. Ltd., Japan.
Maxy Style Inc., Japan.
Nagoya Kanko Hotel Co. Ltd., Japan.
Noble Skill Ltd., Hong Kong.
(Same address)
Philippine-Japan Active Carbon Corp., Philippine.
Sankyo Co. Ltd., Japan.
Tenerita Co. Ltd., Japan.
Towa Optical Co. Ltd., Japan.
etc.
13259266
0266089
Managing Director: Mr. Takeshi
Yamamoto
Nominal Share Capital: HK$5,000,000.00 (Divided into 50,000 shares of
HK$100.00 each)
Issued Share Capital: HK$3,000,000.00
(As per registry dated 10-11-2012)
|
Name |
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No. of shares |
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Kowa Co. Ltd. 6-29, Nishiki, 3-Chome, Nagoya, Japan. |
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30,000 ===== |
(As per registry dated 10-11-2012)
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Name (Nationality) |
Address |
|
Toru WATANABE |
Flat C, 46/F., Tower 1, The Orchards, 3 Greig Road, Hong Kong. |
|
Takeshi YAMAMOTO |
Flat B, 12/F., Tower 2, Park Towers, 1 King’s Road, Hong Kong. |
Takeshi YAMAMOTO (As per registry
dated 10-11-2012)
The subject was incorporated on 10th November, 1989 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Textile
Products, Non-Textile Products, Electronics Optics, Footwear, etc.
Employees: 10.
Commodities Imported: China, other Asian countries, etc.
Markets: Japan,
other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$5,000,000.00 (Divided into 50,000 shares of
HK$100.00 each)
Issued Share Capital: HK$3,000,000.00
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities: Making rather active use of general banking
facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Bank of
Tokyo-Mitsubishi UFJ Ltd., Hong Kong Branch.
Standing:
Good.
Kowa Asia Ltd. is a wholly-owned subsidiary of Kowa Co. Ltd. [Kowa]
which is a Japan-based firm.
Headquartered in Nagoya of Japan, Kowa is one of the largest privately
held companies in Japan.
Kowa is a manufacturer of pharmaceuticals, optical & electro-optical
goods, textiles and activated carbon.
Kowa is also a worldwide trading organization handling textile fabrics,
garments, chemicals, tiles, machinery and equipment, fashion accessories and
sporting goods.
Now, Kowa has set up affiliated companies in the United States, Europe
and the other Asian countries. It has
developed business with world-wide customers through these overseas offices.
The subject is engaged in the same lines of business of Kowa. However, it is specialized in textile
products trading.
The subject has developed close business ties with Hong Kong apparel
companies while most of the products are manufactured in Guangdong Province,
China. Commodities are chiefly exported
to overseas countries while mainly to Japan.
The subject has been helping for export to wholesalers and large
retailers in all parts of Japan as a leading firm of traders of many years
standing in this trade. It has an
extensive sales organization and a through knowledge of the Japanese market.
Kowa, established on 15th November, 1939, is the core member of the Kowa
Group.
The CEO & President of Kowa is Mr. Yoshihiro Miwa.
For the fiscal year ended 31st March, 2012, Kowa Group’s
non-consolidated sales amounted to JPY 206,936 million.
As of March 2012, the total employees of Kowa Group were 1,841.
The subject is fully supported by Kowa.
Business is profitable.
As the history of the subject is over 23 years in Hong Kong,
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
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|
1 |
Rs.88.76 |
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Euro |
1 |
Rs.72.19 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
-- |
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.