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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
MACPI
GROUP (HK) LTD. |
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Registered Office : |
Unit 903, 9/F., Kwong Sang Hong Centre, 151-153 Hoi Bun
Road, Kwun Tong, Kowloon |
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Country : |
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Date of Incorporation : |
16.07.2003 |
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Com. Reg. No.: |
33767043 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of garment manufacturing machines and equipment |
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No. of Employees : |
12 |
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 : |
Regular |
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Litigation : |
Clear |
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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
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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 |
MACPI GROUP (HK) LTD.
Unit 903, 9/F., Kwong Sang Hong Centre, 151-153 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2423 6801~2, 2992 0058
FAX: 852-2900 7633
E-MAIL: info@macpi.com.hk
General Manager: Mr. Armando Raccagni
Incorporated on: 16th July, 2003.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Garment Manufacturing Machinery and Equipment Trader.
Employees: 12.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
Registered Head
Office:-
Unit 903, 9/F., Kwong Sang Hong Centre, 151-153 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong.
China Service
Centre:-
MACPI Service Centre
Dongguan City, Guangdong Province, China.
[Tel: 86-769-8371 0177 Fax: 86-769-8371 0355
E-mail: celo.macpi@gmail.com ]
Holding Company:-
MACPI S.r.l., Italy.
Associated
Companies:-
MACPI Group of Companies
Carfin S.r.l., Italy.
Europlaco S.A., Spain.
FIMAS S.r.l., Italy.
Finsar S.r.l., Italy.
IMA S.p.A, Italy.
MACPI Group (Dongguan) Service Centre, China.
MACPI Group HK Lanka Pvt. Ltd., Sri Lanka.
MACPI Group S.p.A, Italy.
MACPI Trading (India) Private Ltd., India.
Shanghai Macpi Investment & Management Co. Ltd., China.
Shanghai Manfield Garment Machinery Co. Ltd., China.
etc.
33767043
0853660
General Manager: Mr. Armando Raccagni
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 16-07-2012)
|
Name |
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No.
of shares |
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Carfin S.r.l. No. 9, Via Piantada, Palazolo
Sull’Oglio (BS), Zip 25036, Italy. |
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100 |
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Finsar S.r.l. No. 2, Corso Monforate, Zip 20122,
Milan (Mi), Italy. |
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100 |
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MACPI S.r.l. No. 9,
Via Piantada, Palazzolo Sull’oglio (BS), Zip 25036, Italy. |
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9,800 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry
dated 16-07-2012)
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Name (Nationality) |
Address |
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Elena
CARTABBIA |
Via Lombardia 32-D, Sarnico
(Bergamo), Italy. |
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Paolo
CARTABBIA |
Via Lombardia 32-D, Sarnico
(Bergamo), Italy. |
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Luca MOSSO |
Via S. Anna, 10/B, 25030 Adro
(BS), Italy. |
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Gamon Nominees
No. 1 Ltd. |
Room 403, 4/F., Hang Seng Yuen
Long Building, 91-93 Castle Peak Road, Yuen Long, New Territories, Hong
Kong. |
(As per registry
dated 16-07-2012)
|
Name |
Address |
Co.
No. |
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A Bookkeeper & Secretary Ltd. |
Room 403, 4/F., Hang Seng Yuen Long Building, 91-93 Castle
Peak Road, Yuen Long, New Territories, Hong Kong. |
0743170 |
The subject was incorporated on 16th July, 2003 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at 8/F., LMK Development Estate, 10‑16 Kwai Ting Road, Kwai Chung, New Territories, Hong Kong. moved the present address in April, 2013.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Exporter.
Lines: All kinds of garment manufacturing machines and equipment.
Brand Name: MACPI, MACPI JOINT.
Employees: 12.
Commodities Imported: Italy, other European countries, etc.
Markets: China, Japan, other Asian countries, Europe, North America, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Hong Kong Intimate Apparel Industries’ Association Ltd., Hong Kong.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Indebtedness: US$50,000.00
(Total amount outstanding on all mortgages and charges as per last Annual Return dated 01-04-2013)
Mortgage or Charge: (See attachment)
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 required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Very Good.
MACPI Group (HK) Ltd. is almost a wholly-owned subsidiary of MACPI S.r.l. [MACPI] which is an Italy-based firm.
The subject is trading in all kinds of garment manufacturing machinery and equipment. All the products bear the brand name “MACPI”. The subject is a member of the MACPI Group.
Currently, the subject is operating a Service Centre in Dongguan City, Guangdong Province, China. The Service Centre began operation in 2004.
The subject’s main associated company Shanghai Manfield Garment Machinery Co. Ltd. [Shanghai Manfield] is in Shanghai, China. Shanghai Manfield is engaged in manufacturing bonding machines. Products are chiefly marketed in Asia and Europe.
MACPI is famous for its pressing equipment which is specialized for the garment manufacturing industry.
MACPI Group, has been a significant firm in Italy for 50 years, is a conglomerate of several divisions. Its companies are operating in the garment industry. MACPI is able to satisfy the most demanding needs for finishing, bonding, cutting and laundry through a wide range of machines and equipments. The constant search for innovative technology make MACPI a reliable and trustable partner and its professional teams are proposing to potential end-users a wide range of solutions based on raw materials knowledge and application know-out for the developing of products from garments/shoes to automotive industry.
MACPI was established in 1961. It was founded by two young friends — Giovanni Cartabbia and Luciano Sardini. Now, the MACPI name today is the leader in the garment industry.
MACPI has developed innovative solution such as the rotating carousel for jackets’ finishing and the continues belts fusing machine which has opened the way to the latest technology for the bonding application.
MACPI is also famous for its bonding machines. MACPI bonding technology covers all fabrics including lingerie, swimwear, sportswear. Most of its products bear the brand name MACPI.
Besides MACPI, the Group has developed two more trade marks: “IMA” and “FIMAS”. “IMA” is the trade mark of CAD/CAM equipment which is used for garment tailoring and cutting while “FIMAS” is the trade mark of ironing and pressing equipment for hotels, hospitals. The products of “IMA” and “FIMAS” are handled by IMA S.p.A and FIMAS S.r.l. respectively, both are Italy-based firms. Both firms have become members of the MACPI Group.
MACPI has delivered a total of 1,500 bonding machines in the world market as of 2008.
The other main associated company of the subject MACPI Trading (India) Private Ltd. [India MACPI] is in India.
India MACPI is an exporter, wholesaler and supplier of a range of Garment finishing machines. Its products are widely used in the Garments and Apparel Industry.
India MACPI is
trading in the following products:-
· Automatic Cutter;
Automatic Spot Sticking Desk Machine;
Cup Moulding Machine;
Cutting Room Solution;
Electric Steaming;
Fusing Machine;
Fusing Machine For Shirts;
Jacket Finishing Machine;
Jeans Finishing Machine;
Lingerie Shaping Machine;
Shirt Finishing Machine;
Steam Generator;
Trouser Pressing Machine; &
Vacuum Unit.
The subject is fully supported by the MACPI Group. History in Hong Kong is about ten years.
On the whole, consider the subject good for normal business engagements.
|
Date |
Particulars |
Amount |
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18-02-2005 |
Instrument: Security Over Deposits Property: A deposit with chargee in the amount of US$50,000.00 or its equivalent in other foreign currencies under Deposit A/C No. 502-702020, whatever currency it may subsequently be denominated in, any renewal of such deposit and the interest thereon together with any further monies in any deposit account with the chargee at any of its offices Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
Amount secured – (i) all monies in any currency owing
by the Company to the chargee at any time, actually or contingently, in any
capacity, alone or jointly with any other person; (ii) interest on such
monies, to the date on which the chargee receives payment, at the rates
payable by the Company or which would have been payable but for any
circumstance which restricts payment and (iii) all expenses of the chargee in
perfecting or enforcing the charge |
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18-02-2005 |
Instrument: Charge Over Securities and Receivables Property: 1) “Securities means (i) all equity and debt instruments and other instruments commonly known as securities owned by the Customer, (ii) all dividends, interest, distributions and other monies derived therefrom and (iii) all accretions, allotments, and other benefits accruing or arising in respect thereof 2) “Receivables” means all receivables attributable to any certificate of deposits or other instruments owned by the Customer and are either held in the name of the chargee or any nominee of the chargee or are in the possession or control of the chargee, its nominee or a depositary Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
Amount secured – (i) all monies in any currency owing
by the Customer to the chargee at any time, actually or contingently, in any
capacity, alone or jointly with any other person, (ii) interest on such
monies, to the date on which the chargee receives payment, at the rates
payable by the Customer or which would have been payable but for any
circumstance which restricts payment, (iii) all expenses of the chargee in
making payment in respect of the Securities on behalf of the Customer, as a
result of failure by the Customer to make such payment when due and (iv) all
expenses of the chargee in perfecting or enforcing this Charge |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.59 |
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UK Pound |
1 |
Rs.92.92 |
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Euro |
1 |
Rs.78.94 |
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 |
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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 |
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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.