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Report Date : |
09.05.2013 |
IDENTIFICATION DETAILS
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Name : |
Cyklop Hong Kong Ltd. |
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Registered Office : |
Unit 8, 23/F., CCT Telecom Building, 11 Wo Shing Street, Fotan, Shatin, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.07.2001 |
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Com. Reg. No.: |
31923023 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Manufacturer of All kinds of packaging materials, etc. |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$200,000 |
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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) |
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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
CYKLOP
HONG KONG LTD.
ADDRESS: Unit 8, 23/F., CCT Telecom Building, 11 Wo Shing Street, Fotan, Shatin, New Territories, Hong Kong.
PHONE: 2994 6900
FAX: 2793 1077
E-MAIL: info@hk.cyklop-asia.com
CREDIT LIMIT: Good for credit of US$200,000.
Managing Director: Mr. Ngo Chi Chiu
Incorporated on: 4th July, 2001.
Organization: Private Limited Company.
Capital: Nominal:HK$1,000,000.00
Issued: HK$300,000.00
Business Category: Importer, Exporter and Manufacturer.
Employees: 6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
Unit 8, 23/F., CCT Telecom Building, 11 Wo Shing Street, Fotan, Shatin, New Territories, Hong Kong.
Holding Company:-
Cyklop Asia Ltd., British Virgin Islands.
Associated
Companies:-
Cyklop AB, Sweden.
Cyklop Austria GmbH, Austria.
Cyklop Belgium N.V., Belgium.
Cyklop do Brazil Embalagens S/A, Brazil.
Cyklop Emballering A/S, Denmark.
Cyklop France SARL, France.
Cyklop GmbH, Germany.
Cyklop International GmbH, Germany.
Cyklop Manufacturing (Thailand) Ltd., Thailand.
Cyklop Nederland BV, Netherlands.
Cyklop Packaging (M) Sdn. Bhd. Ltd., Malaysia.
Cyklop Packaging (Thailand) Ltd., Thailand.
Cyklop Packaging Corp., USA.
Cyklop Packaging Singapore Pte. Ltd., Singapore.
Cyklop Packaging Systems (India) Pvt. Ltd., India.
Cyklop Packaging Trading (Shanghai) Co. Ltd., China.
Cyklop Russia, Russia.
Cyklop S.r.l., Italy.
Cyklop Strapesa S.A., Spain.
Cyklop Straps Ltd., Thailand.
Cyklop UK Ltd., UK.
Cyklopack Spol s.r.o., Czech Republic.
Oy Cyklop AB, Finland.
31923023
0762225
Managing Director: Mr. Ngo Chi Chiu
Contact Person: Mr. Darren Chow Wing Tat
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$300,000.00
(As per registry dated 04-07-2012)
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Name |
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No. of shares |
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Cyklop Asia Ltd. Pasea Estate, Road Town, Tortola, British Virgin Islands. |
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299,999 |
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Cyklop Packaging Singapore Pte. Ltd. No. 2, Penjuru Close #03-01, 608611, Singapore. |
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1 |
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––––––– |
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Total: |
300,000 ====== |
(As per registry dated 06-12-2012)
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Name (Nationality) |
Address |
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NGO Chi Chiu |
Flat 05, 26/F., Tower C, Galaxia, 3 Lung Poon Street, Diamond Hill, Kowloon, Hong Kong. |
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Samir Tayeb DAJANI |
18 Boon Lay Way, #03-129 TradeHub 21, S609966, Singapore. |
(As per registry dated 01-04-2013)
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Name |
Address |
Co.
No. |
|
Hotex Company Secretary Ltd. |
Room 2109-2111, 21/F., Shui On Centre, 6‑8 Harbour Road, Wanchai, Hong Kong. |
0401167 |
The subject was incorporated on 4th July, 2001 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Smart Talent (Hong Kong) Ltd., name changed to the present style on 20th July, 2001.
Apart from hese, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Manufacturer.
Lines: All kinds of packaging materials, etc.
Employees: 6.
Commodities Imported: Europe, China, other Asian countries, etc.
Markets: China, other Asian countries, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$300,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Cyklop Hong Kong Ltd. is a wholly-owned subsidiary of Cyklop Asia Ltd. which is a BVI-registered firm. The subject is one of the members of the Cyklop Group [Cyklop] of companies.
Another main member of the Group Cyklop Packaging Singapore Pte. Ltd. is a Singapore-based firm. This firm is also a minor shareholder of the subject.
The subject and Cyklop are trading in all kinds of packaging materials and systems. The followings are the main products of the subject and the Group:-
Plastic strapping system: Tools, equipment and accessories
Steel strapping system: Hand tools and automatic equipment
Stretch film wrapping system: Semi-auto to fully-auto wrapper
Specialty system: For paper, beverage, electronic, timber, etc. industries
Packaging materials: PP/ PET/ STEEL strap, film, tape, air bag, etc.
Most of the products bear the brand name Cyklop.
In May 2002, the subject set up an office in Shanghai and in late 2004, set up an office in Guangzhou, Guangdong Province, China. Its associated company Cyklop Packaging Trading (Shanghai) Co. Ltd. [Shanghai Cyklop] is in Shanghai, China. This firm is a wholly-owned subsidiary of Cyklop Int’l, Germany, one of the world’s largest packaging companies. Cyklop is a multi-national packaging specialist with over 90 years of experience in the research and development, production, sales and marketing and service of the packaging equipment and materials. It has had an experienced service team who provides professional after sales service to customers. Shanghai Cyklop is trading in the following products:-
Packaging and Protective Materials
Hand Held Tools for PP, PET Strapping
Pre-stretch Film Wrapping Machine
Steel Strapping System
Specialty Industrial Packaging System
Founded in 1912, Cyklop is a Germany-based firm. Cologne, Germany is also the headquarters of the Group. It has got ISO 9001 certification since 1993.
Now, the Group has set up offices in the Netherlands, Sweden, the United Kingdom, Czech Republic, Italy, Brazil, Spain, Austria, Belgium, Denmark, Finland, France, India, Thailand, etc. The Group now has branches, production plants and agencies in over 50 countries of the world. The total employees are over 1,100. At present, Cyklop maintains other plants and production sites in Spain, Italy, Sweden, the Netherlands, Thailand and Brazil.
Cyklop Manufacturing (Thailand) Ltd. is one of the main production bases of the Group.
Cyklop International is a founder member and shareholder of KBV (Kunststoffband Verwertungsgesellschaft mbH, Cologne).
KBV, which was established at the end of 1991, currently has 18 members and guarantees vis-à-vis the disposal sector that the plastic straps will be taken back and re-used. This means that KBV take back plastic straps from disposal partners and ensure that they are re-used or disposed of in an environmental-friendly manner in conformity with the German Packaging Ordinance. For this purpose all manufacturers pay a certain amount to the recyclers. The regenerated product obtained in re-use is processed again. Strap waste which cannot be used to make regenerated products on account of soiling makes a contribution to thermal energy recovery owing to the high quality of material. The resulting flue gases are absolutely dioxin-free because the materials do not contain any chlorine (Cl).
The subject is fully supported by the Group.
As the history of the subject is over twelve years and ten months in Hong Kong, on the whole, consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
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06-10-2005 |
Instrument: Debenture constituting a fixed and/or floating Charge over all the assets of the company Property: (a) by way of first fixed charge: (i) all chattels as at the date of the Debenture or at any time thereafter belonging to the Company (ii) all book debts and other debts and monetary claims (iii) any credit balance on any account of the Company (iv) all goodwill and uncalled capital for the time being of the Company (v) all stocks shares debentures bonds loan capital and other securities (vi) all letters patent trademarks service marks designs utility models copyrights design rights and applications (vii) all present and future contracts or policies of insurance and all rights and claims to which the Company (viii) save to the extent charged (b) by way of floating charge all the undertaking of the Company and all its property whatsoever and wheresoever both present and future Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
All monies and liabilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
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1 |
Rs.83.88 |
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Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
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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.