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Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
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Name : |
HELM HONG KONG LTD. |
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Registered Office : |
Room 1301, 13/F., China Resources Building, 26 Harbour Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.10.1983 |
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Com. Reg. No.: |
08696875 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter, Distributor, Wholesaler and Manufacturer’s Representative
of Aroma chemicals, aromatics, crop protection chemicals, feed additives,
fertilizer, food additives, inorganic chemicals, medicines, generic drugs,
pharmaceutical raw materials, active pharmaceutical ingredients, olefins,
organic chemicals, plastics, solvents. |
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No. of Employees : |
18 |
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 : |
Good |
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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 |
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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 |
HELM HONG KONG
LTD.
Room 1301, 13/F., China Resources Building, 26 Harbour Road, Wanchai, Hong
Kong.
PHONE: 852-2827 8068
FAX: 852-2827 6023
E-MAIL: mail@helmhk.com
Managing Director: Mr. Ezwan
Johaniff Elias
Incorporated on: 4th October, 1983.
Organization: Private Limited Company.
Capital: Nominal: HK$1,500,000.00
Issued: HK$1,500,000.00
Business Category: Chemicals
Trading.
Turnover of 2011: US$1,042 million
Employees: 18.
Main Dealing Banker: Deutsche
Bank AG, Hong Kong.
Banking Relation: Good.
HELM HONG KONG LTD
Registered Head
Office:-
Room 1301, 13/F., China Resources Building, 26 Harbour Road, Wanchai,
Hong Kong.
China Offices:-
Helm AG Beijing Office
754 New Century Office Tower, 6 Shoudu Tiyu Guan Nan Lu, Beijing 100044,
China.
[Tel: 86-10-6834 0545; Fax:
86-10-6831 5388]
Helm AG Guangzhou Office
Room 2760, Dong Fang Hotel, Liu Hua Lu, Guangzhou, Guangdong Province,
China.
[Tel: 86-20-8668 6347; Fax:
86-20-8668 6349]
Helm AG Shanghai Office
Suite 2706, Union Building, 100, Yanan Road (East), Shanghai 200002,
China.
[Tel: 86-21-6320 0808; Fax:
86-21-6320 0909]
Holding Company:-
Helm AG
Nordkanalstrasse 28, D-20097 Hamburg, Germany.
[Tel: 49-40-2375-0; Fax:
49-40-2375-1845]
Associated
Companies:-
Helm Andina Ltda., Colombia.
Helm Argentina S.R.L., Argentina.
Helm Austria Ges. m.b.H., Austria.
Helm Bulgarien GmbH, Bulgaria.
Helm de Mexico S.A., Meixco.
Helm do Brasil Mercantil Ltda., Brasil.
Helm Düngemittel GmbH, Germany.
Helm Engrais France S.a.r.l., France.
Helm Fertilizer Asia Pte. Ltd., Singapore.
Helm Fertilizer Corporation, USA.
Helm Fertilizer Great Britain Ltd., UK.
Helm Fertilizer Helena Terminal Inc., USA.
Helm Fertilizer Terminal Inc., USA.
Helm France S.a.r.l., France.
Helm Great Britain Ltd., UK.
Helm Holland B.V., Netherlands.
Helm Iberica S.A., Spain.
Helm India Pvt. Ltd., India.
Helm Italia S.r.l., Italy.
Helm Japan Ltd., Japan.
Helm Kimya Sirketi Ltd., Turkey.
Helm Korea Ltd., Korea.
Helm Mahaboon Ltd., Thailand.
Helm New York Inc., USA.
Helm Pharmaceuticals GmbH, Germany.
Helm Polska Sp. z.o.o., Poland.
Helm Portugal Lda., Portugal.
Helm Skandinavien A/S, Denmark.
Helm South Africa Pty. Ltd., Africa.
Helm Tong Sing Corporation, Taiwan.
Helm U.S. Corporation, USA.
Mider-Helm Methanol Vertriebs GmbH, Germany.
S.A. Helm Belgium N.V., Belgium.
Vopak Terminal Ningbo Ltd., China.
Xiamen Kingdomway Petinol Ltd., China.
etc.
08696875
0128897
Managing Director: Mr. Ezwan Johaniff Elias
Contact Person: Mr. Meno Hans Fredrich Struck
Nominal Share Capital: HK$1,500,000.00
(Divided into 1,500 shares of HK$1,000.00 each)
Issued Share Capital: HK$1,500,000.00
(As per registry dated 04-10-2012)
|
Name |
|
No. of shares |
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Helm AG Nordkanalstrasse 28, 20097 Hamburg, Germany. |
|
1,500 ==== |
(As per registry dated 04-10-2012)
|
Name (Nationality) |
Address |
|
Ezwan Johaniff ELIAS |
Flat E, 31/F., One Robinson Place, 70 Robinson Road, Hong Kong. |
(As per registry dated 04-10-2012)
|
Name |
Address |
Co. No. |
|
Fiducia Ltd. |
15/F., OTB Building, 160 Gloucester Road, Hong Kong. |
0113434 |
The subject was incorporated on 4th October, 1983 as a private limited liability
company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Helm Hong Kong Chemicals
Ltd., name changed to the present style on 14th July, 1999.
Formerly the subject was located at Room 3404, 34/F., China Resources
Building, 26 Harbour Road, Wanchai, Hong Kong, moved to Room 1301‑1302,
13/F. of the same building in September 1992.
In July 2008, the subject abandoned the lease of Room 1302.
Apart from these, neither material change nor amendment has been ever traced
and noted.
Activities: Importer,
Exporter, Distributor, Wholesaler and Manufacturer’s Representative.
Lines: Aroma
chemicals, aromatics, crop protection chemicals, feed additives, fertilizer,
food additives, inorganic chemicals, medicines, generic drugs, pharmaceutical
raw materials, active pharmaceutical ingredients, olefins, organic chemicals,
plastics, solvents.
Employees: 18.
Commodities Imported: Mainly
imported from Germany and other European countries.
Group Turnover: EUR
7,957 million (2010)
EUR 9,503 million
(2011)
EUR 9,978 million
(2012)
Subject Turnover of 2011: US$1,042 million
Markets: Hong
Kong, China, other Asian countries, etc.
Terms/Sales: Various terms.
Terms/Buying: As per contracted.
Nominal Share Capital: HK$1,500,000.00
(Divided into 1,500 shares of HK$1,000.00 each)
Issued Share Capital: HK$1,500,000.00
Group Earnings After Tax: EUR 55.3 million (2010)
EUR
77.5 million (2011)
EUR 160.2 million (2012)
Profit & Loss: Business
is profitable.
Condition: Keeping in an
active and good status.
Facilities: Making active
use of general banking facilities.
Payment: So far so good.
Commercial Morality: Good.
Bankers:-
Dresdner Bank AG, Hong Kong Branch.
Hamburgische Landesbank Girozentrale,
Hong Kong Branch.
Standing: Very Good.
Incorporated in 1983, Helm Hong Kong Ltd. is a wholly-owned subsidiary
of Helm AG [HELM] which is a Germany-based firm trading in chemicals. Its name changed from Helm Hong Kong
Chemicals Ltd. to the present one in July 1999.
The subject is engaged in importing and distributing a wide range of
petrochemicals and fertilizers in Hong Kong, China and the other Asia
Pacific regions. It also carries
aromatic chemicals, aromas, essential oil and food additives.
The turnover of the subject for the FY 2011 amounted to US$1,042
million. Business is profitable.
The parent company, HELM, was founded in 1900 by Karl Otto Helm. Originally it operated as a trading house for
the import and export of general goods and then developed into an independent,
international chemicals marketing group and now is one of the leading companies
trading in chemicals. Starting in the
1960s, HELM built up its field organization and created the basis for worldwide
operations in the chemical commodities and pharmaceutical agents sector –
activities now encompass international marketing, distribution, warehousing,
production and services. Products
include aroma chemicals, aromatics, crop protection chemicals, feed additives,
fertilizer, food additives, inorganic chemicals, medicines, olefins, organic
chemicals, active pharmaceutical ingredients, plastics, solvents, etc.
HELM is a Hamburg-based family-owned company steeped in tradition and
able to look back on a history spanning almost 110 years. It is a multifunctional distribution company
specialized in the following products:-
·
Acids and Lyes as well as Specialty Chemicals;
·
Animal and Human Nutrition;
·
Fertilizer and Crop Protection;
·
Organic/inorganic Chemicals;
·
Pharmaceutical Active Ingredients and Medical
Products; &
·
Plastics and Polyurethane Chemicals.
Currently, the group has over 70 branches and companies throughout the
world.
Employing over 1,379 people, HELM has set up foreign branches, sales
offices and subsidiaries in more than 30 countries.
In 2012, the turnover of HELM worldwide amounted to EUR 9,978 million
(2011: EUR 9,503 million), grew by 5.0%.
Group earnings after tax amounted to EUR 160.2 million, grew by 106.7%
as compared with EUR 77.5 million in 2011.
The Chemicals branch, which includes the Feedstocks, Derivatives and
Solids divisions, was largely able to maintain the previous year’s sales and
achieved solid earnings. In the course
of the year 2012, HELM abandoned its Polymers product division due to a lack of
prospects.
In order to generate future growth, a reorganisation was carried out,
which became effective on 1st January 2013.
Chemicals activities were bundled and regrouped in the Feedstocks and
Derivatives business units, and a new Crop Protection unit was
established. These measures were aimed
at producing a stronger focus on specific product groups, or core products, and
to permit the utilisation of product synergies.
In spite of the difficult economic conditions, the Group has made a very
encouraging start into the year 2013, recording a good result for the first
quarter both in terms of sales and earnings.
Business performance was better than expected, given the current
economic weaknesses. This demonstrates
once again that the broad product portfolio of HELM and the Company’s
international positioning in more than 30 countries are able to stabilise the
earnings situation, especially during difficult economic
times. For the remainder of the year,
HELM expects markets to slow down, and hence business performance to be
somewhat restrained. However, HELM remains confident that a solid or even good
profit for the year can be achieved in 2013.
In 2006, the subject got two litigation filed
with Hong Kong High Court.
Its history in Hong Kong is over 29 years.
On the whole, in view of the parentage of
the subject, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
|
1 |
Rs.86.81 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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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.