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Report Date : |
16.07.2013 |
IDENTIFICATION DETAILS
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Name : |
SIAM CANADIAN (ASIA) LTD. |
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Registered Office : |
c/o Sharrow Ltd. Suite 2302, 23/F., Great Eagle Centre, 23 Harbour Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.01.2008 |
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Com. Reg. No.: |
38895738 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Aquatic products |
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No. of Employees : |
Not Available
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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 : |
Not registered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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
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
SIAM CANADIAN (ASIA) LTD.
c/o Sharrow Ltd.
Suite 2302, 23/F., Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong.
PHONE: 852-2525 9991
FAX: 852-2877 6852
Note:
Your enquiry given as SIAM CANADIAN (INDIA) LTD. which is not registered in Hong Kong is nominally located at your given another address:
c/o Centre O Business Centre
14/F., China Hong Kong Tower
8 Hennessy Road, Wanchai,
Hong Kong.
Managing Director: Mr. James Peter Gulkin
Incorporated on: 22nd January, 2008.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o Sharrow Ltd.
Suite 2302, 23/F., Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong.
Holding Company:-
Siam Canadian Group Ltd., British Virgin Islands.
Hong Kong Associated
Company:-
Siam Canadian (India) Ltd.
c/o Centre O Business Centre
14/F., China Hong Kong Tower, 8 Hennessy Road, Wanchai, Hong Kong.
[Tel.: 852-3124 2888, Fax: 852-3124 2889]
Associated
Companies:-
Siam Canadian (China) Ltd., China.
Siam Canadian (India) Ltd., India.
Siam Canadian (Indonesia) Ltd., Indonesia.
Siam Canadian Foods Co. Ltd., Thailand.
Siam Canadian Group Ltd., Thailand.
38895738
1205879
Managing Director: Mr. James Peter Gulkin
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry
dated 22-01-2012)
|
Name |
|
No.
of shares |
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Siam Canadian Group Ltd. Portcullis TrustNet Chambers, P.O. Box 3444, Road Town,
Tortola, British Virgin Islands. |
|
10,000 ===== |
(As per registry
dated 22-01-2012)
|
Name (Nationality) |
Address |
|
James Peter
GULKIN |
62/24 Prompak Place, Sukhumvit
49/6, Klongton Nua, Wattana, Bangkok 10110, Thailand. |
(As per registry
dated 22-01-2012)
|
Name |
Address |
Co.
No. |
|
Sharrow Ltd. |
Suite 2302, 23/F., Great Eagle Centre, 23 Harbour Road,
Wanchai, Hong Kong. |
0288438 |
The subject was incorporated on 22nd January, 2008 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: Aquatic products
Employees: Nil.
Commodities Imported: Europe, Asian countries, South America, etc.
Markets: Asian countries, Europe, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business is not active in Hong Kong.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Siam Canadian (India) Ltd. is not registered in Hong Kong. It is nominally located at “14/F., China Hong Kong Tower, 8 Hennessy Road, Wanchai, Hong Kong” where is the operating address of a business centre known as “Centre O Business Centre” [Centre O]. The phone number of Centre O is 852-3124 2888. We had reached Centre O and the spokeswoman reported us that Siam Canadian (India) Ltd. was one of its clients.
Since Siam Canadian (India) Ltd. has not registered in Hong Kong, we provide you with a report on Siam Canadian (Asia) Ltd. which is an associated company of Siam Canadian (India) Ltd. The important point is that Siam Canadian (Asia) Ltd. is registered in Hong Kong.
Siam Canadian (Asia) Ltd. is a wholly-owned subsidiary of Siam Canadian Group Ltd. [Siam Canadian] which is a BVI-registered firm. The only director of the subject Mr. James Peter Gulkin is a Canada passport holder and does not have the right to reside in Hong Kong permanently. Most of the time he is residing in Bangkok, Thailand.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Suite 2302, 23/F., Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong known as Sharrow Ltd. which is handling its correspondences and documents. This firm is also the corporate secretary of the subject. The subject has no employees in Hong Kong.
The headquarters of Siam Canadian are in Bangkok, Thailand. From modest beginnings in Thailand in 1987, Siam Canadian started off as a small trading company specialized in food products. It was during this time that Thailand’s seafood industry was entering a period of dynamic growth, fuelled by the rapid expansion of aqua cultured shrimp.
In 1992, Siam Canadian opened its first overseas branch in Vietnam. It continued to grow its procurement network and expand its operations by subsequently opening additional offices in China, India and Indonesia. Siam Canadian currently maintains 8 offices across Asia and additionally procures product from Malaysia, Korea and Bangladesh.
Siam Canadian later added the International Trading Division to its Bangkok headquarters to facilitate procurement of products from other countries where Siam Canadian does not maintain its own offices, particularly in South America countries including Argentina, Peru, Brazil, North America and Europe.
Its range of products from its diverse geographical locations ensures that its buyers can truly use us as a “One Stop Shop”, covering all their needs from multiple sources through a single channel. Its offices across Asia together with its strong presence in other countries provides Siam Canadian the ability to market good quality food products which covers hundreds of different frozen seafood items.
Siam Canadian sells to importers in over 70 countries on 6 continents. Your given enquiry Siam Canadian (India) Ltd. is one of the associated companies of Siam Canadian.
The history of the subject in Hong Kong 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 L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
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UK Pound |
1 |
Rs.90.71 |
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Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
<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.