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Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
MATSUYA
MACHINERY (HONG KONG)
LTD. |
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Registered Office : |
Unit 1701, 17/F., Tower 2, Enterprise Square, 9 Sheung Yuet Road,
Kowloon Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.02.2005 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Knitting machine Trader. |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 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 |
MATSUYA MACHINERY (HONG
KONG) LTD.
Unit 1701, 17/F.,
Tower 2, Enterprise Square, 9 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong
Kong.
PHONE: 2796 8111
FAX: 2796 8855
E-MAIL: hrdepts@dearteam.hk
Managing
Director: Mr. Ngan Man Fat
Incorporated on: 22nd February, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Knitting machine Trader.
Employees: 6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Head Office:-
Unit 1701, 17/F.,
Tower 2, Enterprise Square, 9 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong
Kong.
Factory
in China:-
Matsuya Machinery
(Huizhou) Co. Ltd.
Holding
Company:-
Matsuya Holdings
Ltd., Samoa.
Associated
company:-
Mastsuya Industry
Ltd., Japan.
35464295
0952626
Managing
Director: Mr. Ngan Man Fat
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 22-02-2013)
|
Name |
|
No.
of shares |
|
Matsuya Holdings Ltd. Offshore
Chambers, P.O. Box 217, Apia, Samoa. |
|
10,000 ===== |
(As per registry dated 22-02-2013)
|
Name (Nationality) |
Address |
|
WONG Shun Wai |
Flat B, 8/F., Tower 8, Aegean Coast, 2 Kwun
Tsing Road, Tuen Mun, New Territories, Hong Kong. |
|
NGAN Man Fat |
Unit 1701, 17/F., Tower 2, Enterprise
Square, 9 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong. |
|
General Ford
Ltd. |
19/F., Cameron Commercial Centre, 468
Hennessy Road, Causeway Bay, Hong Kong. |
(As per registry dated 22-02-2013)
|
Name |
Address |
Co.
No. |
|
Harrich
Co. Ltd. |
19/F., Cameron Commercial Centre, 468 Hennessy Road, Causeway Bay,
Hong Kong. |
0217207 |
The
subject was incorporated on 22nd February, 2005 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: Knitting machine Trader.
Lines: All kinds of knitting machines, etc.
Employees: 6.
Commodities Imported: China, Japan, etc.
Markets: China, other Asian countries, Europe, Russia, North and South America, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
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: 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.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
The Bank of Tokyo-Mitsubishi UFJ Ltd.
Standing: Satisfactory.
Matsuya
Machinery (Hong Kong) Ltd. is a wholly-owned subsidiary of Matsuya Holdings
Ltd., a Samoa-registered firm. Its main
associated company in Japan is Matsuya Industry Ltd. [Matsuya].
Matsuya
is located at 26-7,1-Chome, Mikawa-Anjo-Honmachi, Anjo, Aichi 446-0008, Japan.
The
factory of Matsuya in Huizhou City, Guangdong Province, China is known as
Matsuya Machinery (Huizhou) Co. Ltd.
Matsuya
is a company expertized in flat knitting machines. It has been producing both glove and flat
knitting machines since its foundation in 1946 in Japan. With its state-of-the-art technologies
through long term experience, and satisfactory after-sales-service network,
Matsuya machines are highly reputed by customers all over the world. In consideration to meet the increasing needs
and potentiality of Chinese market, Matsuya set up the first glove knitting
machine production line in Zhoungshan, China in 2000. Thereafter, other production lines were successively
increased. In 2007, its new factory in
Huizhou was set up and its production lines are at present in full production
to cover the various needs from its customers.
Matsuya
also fabricates made-to-order products to suit its customer’s requirement.
The
followings are the main products of Matsuya:-
·
Computerized Collar Knitting Machine (Full &
Semi Jacquard):Model: M-100, M-132, M-172SJT, M-203SJT & Super-Trim 212;
·
Computerized Sweater Knitting Machine (Full
Jacquard):
Model: Super-J 212.
Matsuya’s
products are marketed in China, the other Asian countries, Europe, North and
South America, Russia, etc.
The
subject’s business is chiefly handled by Ngan Man Fat who is a Hong Kong
merchant. History in Hong Kong is over
eight years.
On
the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.21 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.70.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.