|
Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
DIC TRADING (HK) LIMITED |
|
|
|
|
Formerly Known As : |
DAINIPPON INK & CHEMICALS (HK) LIMITED |
|
|
|
|
Registered Office : |
Room 1304, East Ocean Centre, 98 Granville Road, Tsim Sha Tsui,
Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
01.10.1970 |
|
|
|
|
Com. Reg. No.: |
03084556 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Trading and sale of DIC products such as offset ink (major), plastic
material and textile chemicals |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
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 |
|
Subject's Registered Name (in English ~ Chinese): |
DIC TRADING (HK) LIMITED |
|
Companies Registry No. (CR No.): |
021592 |
|
Subject's Business Name (in English ~ Chinese): |
N/A |
|
Registered Address: |
Room 1304, East Ocean Centre, 98 Granville Road, Tsim Sha Tsui,
Kowloon, Hong Kong. |
|
Operating/Business Address: |
Room 1101, 11/F and Room 1304, 13/F, East Ocean Centre, 98 Granville
Road, Tsim Sha Tsui, Kowloon, Hong Kong. |
|
Telephone: |
27236111 |
|
Fax: |
27034607 |
|
Email: |
info@dichk.com.hk |
|
Website: |
www.dic.co.jp (DIC Group) |
|
NACE - Code & Industry: |
G46.1.8 - Agents specialised in the sale of other particular
products |
|
Certification: |
N/A |
|
Business/Industry Trend: |
Fairly Steady |
|
Public Filings Compliance: |
Compliant |
Subject is an old established subsidiary offset ink (major), plastic
materials and textile chemicals trader and seller of a long history and
large-sized publicly listed ultimate parent in Japan possessing historical
operational experience, adequate backings and acceptable market base to meet
its normal commitment.
TOTAL CREDIT APPRAISAL (TCA) GUIDE:
The TCA is an opinion of the company's capability and ability based on
prevailing conditions and information made available to Total Credit at the
time of appraising.
The TCA is not a recommendation to buy or sell nor is it an endorsement
or non- endorsement of an issue.
The information received has been obtained from sources believed to be
reliable, but its accuracy or completeness is not guaranteed.
Total Credit does not assume any part of the requestor's risk in the use
or non-use of this TCA.
No part of this report may be reproduced, stored in retrieval system or
transmitted, in any form or by any means.
TCA is subject to change due to any unforeseen and/or foreseen
circumstances.
The following statutory information is based on the examination of
Subject's file at the Companies' Registry (CR), Hong Kong.
(For Listed Company, only Substantial
Shareholders ("SS") are listed, as based on the latest available
annual or interim reports. It is noted that some of the shares held (including
long, short and other positions) might have been duplicated due to capacities
of "Beneficial owner", "Interest of controlled
corporation", "Interest of spouse", "Family interest",
etc., which mean the total number of shares held by SS may exceed the
authorized and/or issued shares. Duplicate holding (if any) will be elaborated
under the "Notes to Substantial Shareholders" on the Structure Remark
section.)
|
Co. File Examined |
10 May 2013 |
|
Companies Registry No. (CR No.) |
021592 |
|
Business Registration No. (BR No.) |
03084556 |
|
Legal Status |
Private Limited Company |
|
Active Status |
Live |
|
Date of Incorporation / Registration |
1 Oct 1970 |
|
Name Changed From |
Date of Change(s) |
|
Dainippon Ink & Chemicals (HK) Limited |
10 Jun 2008 |
|
Authorized Share Capital |
HKD16,000,000 |
||||||||||
|
No. of Shares Issued |
160,000 |
||||||||||
|
Issued Share Capital |
HKD16,000,000 |
||||||||||
|
Paid up Capital (excluding premium) |
HKD16,000,000 |
||||||||||
|
Class of Share |
Ordinary |
||||||||||
|
|
|||||||||||
|
Last Annual Return Date |
1 Oct 2012 |
||||||||||
|
Year(s) of "Annual Return of No Change" Filed |
N/A |
||||||||||
|
Branches/Trading As |
N/A |
||||||||||
|
Chief Executive |
|
||||||||||
|
Company Secretary |
|
||||||||||
Shareholders/ Subscribers (as at 1 Oct 2012)
|
Shareholders/ Subscribers |
ID/CR No. |
Passport No. |
Issuing Country |
Address |
No. of Shares |
Class of Share |
% Of Share Capital |
|
DIC Asia Pacific Pte Ltd |
N/A |
N/A |
N/A |
78 Shenton Way, 16-01, MCL Land, Singapore 079120, Singapore. |
159,998 |
Ordinary |
99.99 |
|
DIC Corporation |
N/A |
N/A |
N/A |
DIC Building, 7-20, 3-Chome, Nihonbashi, Chuo-Ku, Tokyo, Japan. |
1 |
Ordinary |
0.00 |
|
TANIGAWA Eiji |
P608298-3 |
N/A |
N/A |
Flat C, 60/F, Tower 1, The Victoria Towers, 188 Canton Road, Kowloon,
Hong Kong. |
1 |
Ordinary |
0.00 |
|
|
|
|
|
Total: |
160,000 |
|
|
Directors (as at 1 Oct 2012)
|
Directors |
ID/CR No. |
Passport No. |
Issuing Country |
Address |
|
FUKUI Terumi |
N/A |
TH2275412 |
Japan |
Room 1704, 5-2 Hua Ting Road, Tian He, Guangzhou, Guangdong, China. |
|
FURUTA Naoyoshi |
N/A |
TG3420490 |
Japan |
5-14-18 Akitsu, Narashino-Shi, Chiba, 275-0025, Japan. |
|
KAMBE Toshio |
N/A |
TH1354153 |
Japan |
Room 2305, Novel Century, No. 11 Lane, 81 Xin Geng Road, Xuhui
District, Shama Xujiahui, Shanghai, China. |
|
KAMEZAKI Mamoru |
M114945-3 |
N/A |
N/A |
Suite B-1607, Harbourfront Horizon All-Suite Hotel, 8 Hung Luen Road,
Hung Hom Bay, Kowloon, Hong Kong. |
|
MASUDA Yoshiaki |
N/A |
TK0668032 |
Japan |
3-23-30 Kiduki, Nakahara-Ku, Kawasaki-Shi, Kanagawa, 211-0025, Japan. |
|
TANIGAWA Eiji |
P608298-3 |
N/A |
N/A |
Flat C, 60/F, Tower 1, The Victoria Towers, 188 Canton Road, Kowloon,
Hong Kong. |
|
Change of Ownership & Capital/ Share Allotment/Other Changes |
No significant changes in business or
ownership have been reported since its inception. |
|
Appointment and/or Resignation of Directors or Secretary |
As of 25 May 2006, SAGARA Masahiko and
HONDA Takashi resigned as directors and KARASAWA Shomei and MIYAZAKI Yasufumi
were appointed concurrently. |
|
Admission or Retirement of Sole Proprietor/Partner |
N/A |
|
Parent |
DIC Asia Pacific Pte Ltd, parent, is a
subsidiary of DIC Corporation ("the Company") which is listed on
the Tokyo Stock Exchange under stock code "4631" and runs as the holding
flagship of the Group or DIC Group (the Company and its subsidiaries and
associates). |
|
|
|
N/A
|
Name |
FUKUI Terumi |
||||||||
|
Position (Title) |
Director |
||||||||
|
Nationality |
Japan |
||||||||
|
Experience |
N/A |
||||||||
|
Profile / Responsibility |
Currently in charged of its production monitoring and business
development. Stations in China. |
||||||||
|
Business Capacity |
|
||||||||
|
Court Action |
As Defendant |
|
Name |
FURUTA Naoyoshi |
||||||||
|
Position (Title) |
Director |
||||||||
|
Nationality |
Japan |
||||||||
|
Experience |
N/A |
||||||||
|
Profile / Responsibility |
Executive Officer, General Manager of General Polymers Product
Division. Stations in Japan. |
||||||||
|
Business Capacity |
|
||||||||
|
Court Action |
As Defendant |
|
Name |
KAMBE Toshio |
||||||||
|
Position (Title) |
Director |
||||||||
|
Nationality |
Japan |
||||||||
|
Experience |
N/A |
||||||||
|
Profile / Responsibility |
Executive Officer of Toshio Kanbe DIC(CHINA) Co., Ltd. |
||||||||
|
Business Capacity |
|
||||||||
|
Court Action |
As Defendant |
|
Name |
KAMEZAKI Mamoru |
||||||||
|
Position (Title) |
Director |
||||||||
|
Nationality |
N/A |
||||||||
|
Experience |
N/A |
||||||||
|
Profile / Responsibility |
Currently in charge of its business development operation and
administration. |
||||||||
|
Business Capacity |
|
||||||||
|
Court Action |
As Defendant |
|
Name |
MASUDA Yoshiaki |
||||||||
|
Position (Title) |
Director |
||||||||
|
Nationality |
Japan |
||||||||
|
Experience |
N/A |
||||||||
|
Profile / Responsibility |
Managing Executive Officer and Managing Director of DIC Asia Pacific
Pte Ltd. Stations in Japan. |
||||||||
|
Business Capacity |
|
||||||||
|
Court Action |
As Defendant |
|
Name |
NAKANISHI Yoshiyiki |
|
Position (Title) |
Chief Executive Officer |
|
Nationality |
Japan |
|
Age |
57 |
|
Sex |
Male |
|
Experience |
31 years + |
|
Profile / Responsibility |
Representative Director, President and CEO of DIC Corporation (the
Company) effective April 1, 2012. He joined the Company in April 1978. He
used to serve as Director of Functional Polymers, Executive Officer and
Deputy Director of Coating Resins Business in the Company. He obtained his
Bachelor's degree in Commerce from Waseda University in March 1978. |
|
Business Capacity |
N/A |
|
Court Action |
As Defendant |
|
Name |
TANIGAWA Eiji |
||||||||||||
|
Position (Title) |
Chief Executive |
||||||||||||
|
Nationality |
Japan |
||||||||||||
|
Sex |
Male |
||||||||||||
|
Experience |
21 years + |
||||||||||||
|
Profile / Responsibility |
Managing Director. He is currently in charge of its business development,
management, operation and policy making. |
||||||||||||
|
Business Capacity |
|
||||||||||||
|
Court Action |
As Defendant |
|
Profile/Responsibility and Business Capacity indicated are
based on -on-file, sources, and enquiries and investigations recently conducted
but do not necessarily represent the full or most updated. For example, the
status indicated under Business Capacity is based on the date shown (if
available) as recorded, which might have been changed at the time the report
is compiled. |
Current Interviews & Investigations
Its directors were not available for
interview during the report compilation.
Group's Total Revenue and Net Income for the year ended 31 Mar 2013 were
JPY703,781 million and JPY19,064 million respectively.
Group's financial results for/from Asia and Oceania area:
Net sales ¥60.1 billion
Operating income ¥5.2 billion
Subject is one of the contributors of the above figures and the interim figures
under the Group Profile & Financials section.
|
Private companies in Hong Kong (include private limited, sole
proprietorship and partnership) are not required to file or disclose their
financial information for public inspection. |
Annual Income Statement
|
In Millions of Yen |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Revenue |
703,781.0 |
734,276.0 |
778,964.0 |
757,849.0 |
932,334.0 |
|
Other Revenue, Total |
-- |
-- |
-- |
-- |
-- |
|
Total Revenue |
703,781.0 |
734,276.0 |
778,964.0 |
757,849.0 |
932,334.0 |
|
Cost of Revenue, Total |
560,504.0 |
590,716.0 |
619,632.0 |
604,808.0 |
757,763.0 |
|
Gross Profit |
143,277.0 |
143,560.0 |
159,332.0 |
153,041.0 |
174,571.0 |
|
Selling/General/Admin. Expenses, Total |
104,793.0 |
99,500.0 |
122,180.0 |
125,227.0 |
149,900.0 |
|
Research & Development |
-- |
9,100.0 |
-- |
-- |
-- |
|
Depreciation/Amortization |
-- |
-- |
-- |
-- |
-- |
|
Interest Expense, Net - Operating |
-- |
-- |
-- |
-- |
-- |
|
Interest/Investment Income - Operating |
-- |
-- |
-- |
-- |
-- |
|
Interest Expense(Income) - Net Operating |
-- |
-- |
-- |
-- |
-- |
|
Unusual Expense (Income) |
988.0 |
4,496.0 |
4,188.0 |
8,624.0 |
4,866.0 |
|
Other Operating Expenses, Total |
-- |
-- |
-- |
-- |
-- |
|
Total Operating Expense |
666,285.0 |
703,812.0 |
746,000.0 |
738,659.0 |
912,529.0 |
|
Operating Income |
37,496.0 |
30,464.0 |
32,964.0 |
19,190.0 |
19,805.0 |
|
Interest Expense, Net Non-Operating |
(7,093.0) |
(7,739.0) |
(7,077.0) |
(7,459.0) |
(9,258.0) |
|
Interest/Invest Income - Non-Operating |
3,517.0 |
4,413.0 |
3,675.0 |
2,709.0 |
4,058.0 |
|
Interest Income(Exp), Net Non-Operating |
-- |
-- |
-- |
-- |
-- |
|
Gain (Loss) on Sale of Assets |
57.0 |
773.0 |
(1,210.0) |
(2,413.0) |
(3,644.0) |
|
Other, Net |
229.0 |
(832.0) |
(2,049.0) |
(3,983.0) |
(4,016.0) |
|
Net Income Before Taxes |
34,206.0 |
27,079.0 |
26,303.0 |
8,044.0 |
6,945.0 |
|
Provision for Income Taxes |
12,989.0 |
7,452.0 |
8,390.0 |
4,244.0 |
3,863.0 |
|
Net Income After Taxes |
21,217.0 |
19,627.0 |
17,913.0 |
3,800.0 |
3,082.0 |
|
Minority Interest |
(2,153.0) |
(1,469.0) |
(2,152.0) |
(1,260.0) |
(434.0) |
|
Equity In Affiliates |
-- |
-- |
-- |
-- |
-- |
|
U.S. GAAP Adjustment |
-- |
-- |
-- |
-- |
-- |
|
Net Income Before Extra. Items |
19,064.0 |
18,158.0 |
15,761.0 |
2,540.0 |
2,648.0 |
|
Accounting Change |
-- |
-- |
-- |
-- |
-- |
|
Discontinued Operations |
-- |
-- |
-- |
-- |
-- |
|
Extraordinary Item |
-- |
-- |
-- |
-- |
-- |
|
Tax on Extraordinary Items |
-- |
-- |
-- |
-- |
-- |
|
Net Income |
19,064.0 |
18,158.0 |
15,761.0 |
2,540.0 |
2,648.0 |
Annual Balance
Sheet
|
In Millions of Yen |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Cash |
-- |
-- |
-- |
-- |
-- |
|
Cash & Equivalents |
22,654.0 |
29,695.0 |
22,957.0 |
29,549.0 |
20,231.0 |
|
Short Term Investments |
-- |
-- |
-- |
-- |
-- |
|
Cash and Short Term Investments |
22,654.0 |
29,695.0 |
22,957.0 |
29,549.0 |
20,231.0 |
|
Accounts Receivable - Trade, Net |
174,310.0 |
166,107.0 |
177,095.0 |
173,385.0 |
139,704.0 |
|
Notes Receivable - Short Term |
-- |
-- |
-- |
-- |
-- |
|
Receivables - Other |
-- |
-- |
-- |
-- |
-- |
|
Total Receivables, Net |
174,310.0 |
166,107.0 |
177,095.0 |
173,385.0 |
139,704.0 |
|
Total Inventory |
129,179.0 |
124,185.0 |
122,251.0 |
123,919.0 |
138,141.0 |
|
Prepaid Expenses |
-- |
-- |
-- |
0.0 |
-- |
|
Other Current Assets, Total |
25,714.0 |
28,692.0 |
32,495.0 |
34,905.0 |
35,786.0 |
|
Total Current Assets |
351,857.0 |
348,679.0 |
354,798.0 |
361,758.0 |
333,862.0 |
|
Property/Plant/Equipment, Total - Gross |
715,461.0 |
677,405.0 |
717,554.0 |
763,185.0 |
757,294.0 |
|
Accumulated Depreciation, Total |
(501,418.0) |
(474,580.0) |
(496,923.0) |
(510,788.0) |
(492,844.0) |
|
Property/Plant/Equipment, Total - Net |
214,043.0 |
202,825.0 |
220,631.0 |
252,397.0 |
264,450.0 |
|
Goodwill, Net |
1,227.0 |
611.0 |
1,808.0 |
1,704.0 |
2,233.0 |
|
Intangibles, Net |
13,572.0 |
11,192.0 |
10,509.0 |
12,177.0 |
12,108.0 |
|
Long Term Investments |
36,663.0 |
31,532.0 |
30,873.0 |
30,404.0 |
32,381.0 |
|
Note Receivable - Long Term |
269.0 |
540.0 |
571.0 |
796.0 |
1,026.0 |
|
Other Long Term Assets, Total |
75,360.0 |
79,688.0 |
84,570.0 |
90,630.0 |
92,400.0 |
|
Other Assets, Total |
-- |
-- |
-- |
-- |
-- |
|
Total Assets |
692,991.0 |
675,067.0 |
703,760.0 |
749,866.0 |
738,460.0 |
|
Accounts Payable |
109,058.0 |
109,754.0 |
121,224.0 |
121,661.0 |
107,392.0 |
|
Payable/Accrued |
-- |
-- |
-- |
-- |
-- |
|
Accrued Expenses |
2,955.0 |
2,797.0 |
2,815.0 |
2,911.0 |
1,096.0 |
|
Notes Payable/Short Term Debt |
49,392.0 |
43,341.0 |
23,951.0 |
16,677.0 |
85,927.0 |
|
Current Port. of LT Debt/Capital Leases |
49,223.0 |
42,116.0 |
48,257.0 |
60,379.0 |
48,236.0 |
|
Other Current liabilities, Total |
61,066.0 |
67,287.0 |
68,132.0 |
69,353.0 |
76,474.0 |
|
Total Current Liabilities |
271,694.0 |
265,295.0 |
264,379.0 |
270,981.0 |
319,125.0 |
|
Long Term Debt |
211,367.0 |
237,001.0 |
258,962.0 |
299,889.0 |
252,417.0 |
|
Capital Lease Obligations |
5,652.0 |
6,022.0 |
6,476.0 |
725.0 |
544.0 |
|
Total Long Term Debt |
217,019.0 |
243,023.0 |
265,438.0 |
300,614.0 |
252,961.0 |
|
Total Debt |
315,634.0 |
328,480.0 |
337,646.0 |
377,670.0 |
387,124.0 |
|
Deferred Income Tax |
1,781.0 |
1,056.0 |
6,930.0 |
3,077.0 |
1,730.0 |
|
Minority Interest |
23,810.0 |
22,585.0 |
22,631.0 |
21,795.0 |
13,586.0 |
|
Other Liabilities, Total |
41,766.0 |
41,197.0 |
36,634.0 |
52,365.0 |
55,729.0 |
|
Total Liabilities |
556,070.0 |
573,156.0 |
596,012.0 |
648,832.0 |
643,131.0 |
|
Redeemable Preferred Stock, Total |
-- |
-- |
-- |
-- |
-- |
|
Preferred Stock - Non Redeemable, Net |
-- |
-- |
-- |
-- |
-- |
|
Common Stock, Total |
91,154.0 |
91,154.0 |
91,154.0 |
82,423.0 |
82,423.0 |
|
Additional Paid-In Capital |
88,758.0 |
88,758.0 |
88,758.0 |
80,027.0 |
80,027.0 |
|
Retained Earnings (Accumulated Deficit) |
68,444.0 |
53,963.0 |
39,475.0 |
27,131.0 |
28,546.0 |
|
Treasury Stock - Common |
(873.0) |
(660.0) |
(657.0) |
(648.0) |
(642.0) |
|
ESOP Debt Guarantee |
-- |
-- |
-- |
-- |
-- |
|
Unrealized Gain (Loss) |
410.0 |
(422.0) |
(73.0) |
278.0 |
(506.0) |
|
Other Equity, Total |
(110,972.0) |
(130,882.0) |
(110,909.0) |
(88,177.0) |
(94,519.0) |
|
Total Equity |
136,921.0 |
101,911.0 |
107,748.0 |
101,034.0 |
95,329.0 |
|
Total Liabilities & Shareholders' Equity |
692,991.0 |
675,067.0 |
703,760.0 |
749,866.0 |
738,460.0 |
Annual Cash
Flow Statement
|
In Millions of Yen |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Net Income/Starting Line |
34,206.0 |
27,079.0 |
26,303.0 |
8,044.0 |
6,945.0 |
|
Depreciation/Depletion |
27,408.0 |
29,724.0 |
32,954.0 |
35,370.0 |
40,627.0 |
|
Amortization |
180.0 |
389.0 |
662.0 |
689.0 |
1,143.0 |
|
Deferred Taxes |
-- |
-- |
-- |
-- |
-- |
|
Non-Cash Items |
5,444.0 |
2,563.0 |
6,849.0 |
11,571.0 |
6,010.0 |
|
Changes in Working Capital |
(25,805.0) |
(28,512.0) |
(35,858.0) |
(16,218.0) |
(17,995.0) |
|
Cash from Operating Activities |
41,433.0 |
31,243.0 |
30,910.0 |
39,456.0 |
36,730.0 |
|
Capital Expenditures |
(26,605.0) |
(27,073.0) |
(20,803.0) |
(23,572.0) |
(43,962.0) |
|
Other Investing Cash Flow Items, Total |
2,880.0 |
9,480.0 |
8,463.0 |
11,095.0 |
8,305.0 |
|
Cash from Investing Activities |
(23,725.0) |
(17,593.0) |
(12,340.0) |
(12,477.0) |
(35,657.0) |
|
Financing Cash Flow Items |
(1,169.0) |
(1,333.0) |
(368.0) |
(453.0) |
(471.0) |
|
Total Cash Dividends Paid |
(4,583.0) |
(3,670.0) |
(3,417.0) |
(3,955.0) |
(6,330.0) |
|
Issuance (Retirement) of Stock, Net |
(213.0) |
(3.0) |
17,453.0 |
(6.0) |
(34.0) |
|
Issuance (Retirement) of Debt, Net |
(20,651.0) |
(2,138.0) |
(39,967.0) |
(11,571.0) |
13,294.0 |
|
Cash from Financing Activities |
(26,616.0) |
(7,144.0) |
(26,299.0) |
(15,985.0) |
6,459.0 |
|
Foreign Exchange Effects |
1,845.0 |
202.0 |
1,064.0 |
(1,539.0) |
(561.0) |
|
Net Change in Cash |
(7,063.0) |
6,708.0 |
(6,665.0) |
9,455.0 |
6,971.0 |
Maintaining bank accounts with HSBC and Bank of Tokyo-Motsubishi UFJ,
Ltd.. No negative implication has been reported.
A trade survey currently conducted reveals the following:
|
|
First |
Second |
|
Type of Supplies |
Services |
Services |
|
Time Known |
22 Years |
31 Years |
|
Highest Credit |
550,000 |
No preset |
|
Outstanding Balance |
250,000 |
300,000 |
|
Terms |
30 days net |
60 days net |
|
Pay Record |
Within Terms |
Prompt |
|
|
|
|
|
Overall Trade Reputation |
Good |
|
TDS reveals if
subject has been listed as debtor in our debt database in the past 5 years
and that is subject to the "Code of Practice on Consumer Credit
Data" issued by Office of the Privacy Commissioner for Personal
Data, Hong Kong. Accounts are sometimes placed for collection even though the
existence or amount of the debt is disputed. It should be noted that the
collection record contained in the report might have been paid, terminated,
vacated, settled or released prior to the date of report compiled.
Search Result:
Subject
None found in our database
Related Members
None found in our database
Related Companies
None found in our database
Mortgages and Charges (M&C)
M&C records, if any, are extracted from the Companies Registry, Hong
Kong ("CRHK"). Details of "Creating Instrument" and
"Description of Property Mortgaged or Charged" are available subject
to the prevailing fees as per document charged by CRHK. Please indicate/select
"Full Mortgage/Charge" when ordering our services/reports (e.g.:
Total Limited Company Search or Total Company Credit Report). Request for Full
mortgage/Charge made 7 days after the report delivery will be treated as a new
order and is subject to our "Official Document Retrieval (ODR)"
service charge + related government fees. M&C brief particulars may not be
available from CRHK for mortgage/charge registered before 28 Feb 2005.
Records filed in:
N/A
Total Amount outstanding as of the date of this Return on all mortgages
and charges which are required to be registered with the Registrar of Companies
pursuant to sections 80 and 82 of the Companies Ordinance
TWS reveals if subject has been listed as Defendant/Debtor/Respondent,
Plaintiff/Creditor/Applicant, in liquidation or bankruptcy within our court
database in the past 7 years and that is subject to the "Code
of Practice on Consumer Credit Data" issued by Office of the Privacy
Commissioner for Personal Data, Hong Kong. It should be noted that the court
record contained in a report might have been paid, terminated, vacated, settled
or released prior to the date of a report was compiled. Civil claims are filed
as the result of disputes of a commercial or other nature. The
Defendant/Debtor/Respondent is not liable nor the Plaintiff/Creditor/Applicant
eligible to the claim until judgement is obtained from the relevant court,
which is not open for public inspection at present. Only the latest 50 records
will be shown when total records exceed 50.
Search Result:
Subject
As Defendant
None found in our database
As Plaintiff
|
Action Number |
Date |
Defendant/ |
Plaintiff/ |
Cause/Nature |
Amount |
|
DCCJ001140 |
3 Apr 2012 |
GEEFER PRESSTECH LIMITED |
DIC TRADING (HK) LIMITED |
DEBT |
HKD728,750 |
|
SCTC010253/10 |
30 Mar 2010 |
GROUP POWER CORPORATION LIMITED |
DIC TRADING (HK) LIMITED |
GOODS SOLD AND DELIVERED |
N/A |
|
DCCJ002036 |
22 Apr 2009 |
NEW TECHNOLOGY COMPANY LIMITED |
DIC TRADING (HK) LIMITED |
DEBT |
USD11,000 |
|
SCTC017042/08 |
9 May 2008 |
CAMFORD DIGITAL PRESS PINGHU LTD. |
DAINIPPON INK & CHEMICALS (HK) LTD. |
GOODS SOLD AND DELIVERED |
N/A |
|
DCMP003201 |
26 Oct 2006 |
TSUI TIM HAY ft/a WING CHEONG CO |
DAINIPPON INK & CHEMICALS (HK) LIMITED |
CHARGING ORDER |
N/A |
|
SCTC044604/06 |
22 Sep 2006 |
TSUI TIM HAY ft/a WING CHEONG CO. |
DAINIPPON INK & CHEMICALS (HK) LIMITED |
GOODS SOLD AND DELIVERED |
N/A |
Comments
N/A
Related Members
As Defendant
None found in our database
Comments
N/A
Related Companies
As Defendant
None found in our database
Comments
N/A
Business Lines
|
Principal Business Line |
Trading and sale of DIC products such as offset ink (major), plastic
material and textile chemicals |
|
Second Business Line |
Property holding and investment |
Product/Production
|
China Factory |
Related |
|
Size of China Factory (sq. ft.) |
N/A |
|
No. of Staff / Workers in China (or Overseas) |
N/A |
|
Product / Production Remarks |
Production is mainly at Group's factories
in China and Japan. |
Supplies/Purchases
|
Hong Kong and China |
|
|
Types of Supplies |
Services, materials and chemicals |
|
Buying Terms |
COD, credit of 30 to 90 days and inter account |
|
|
|
|
Overseas |
|
|
Import Countries |
Japan and Europe |
|
Types of Supplies |
Materials and chemicals |
|
Buying Terms |
L/C, credit of 30 to 60 days and inter-account |
|
Remarks |
N/A |
Markets
|
Major Market |
Hong Kong, China and Macau |
|
Minor Market |
N/A |
|
Selling Products / Services |
Ink, plastic material & textile chemical |
|
Selling Terms |
COD, credit of 30 to 60 days, L/C and open account |
|
Remarks |
N/A |
Brands
|
Own Brands |
N/A |
|
OEM (Clients) Brands |
N/A |
|
Remarks |
N/A |
Premises and Staff
|
Hong Kong Office |
|
|
Area (sq. ft.) |
6,000 |
|
Type |
Commercial |
|
Staff Range |
60+ |
|
China Office |
|
|
Staff Range |
N/A |
|
Premises Remarks |
Owning two units as its office at the
captioned address, which is at a 32-year-old 17-storey well-kept commercial
building. Employing 65. |
|
Total No. of Staff in Hong Kong (China) |
65 |
TPOS reveals if subject has been involved in property transaction record in
our database since 1996. TPOS does not represent the full record or
history of all transactions relating to the registered charges, mortgages or
ownerships. Some of the charges, mortgages or ownerships might have been
released and/or changed. There could be latest mortgages, charges, ownerships
or transactions not reflected. TPOS also checks on Subject's
shareholder, director, sole proprietor, partner (collectively listed under "Related
Members" in this section) and/or related company while related records
will be revealed when appropriate.
Search Result:
Subject
|
Property 1 |
Unit B2, 2/F, Tung Chun Industrial Building, Block A, 9 Cheung Wing
Road, Kwai Chung, New Territories, Hong Kong. |
|
Memorial Number |
00332791 |
|
Date of Instrument |
17 Dec 1984 |
|
Nature of Transaction |
Agreement for Sale and Purchase |
|
Gross Area (Saleable Area) in sq. ft. |
N/A |
|
Consideration (HKD) |
2,148,660 |
|
Assignor/Seller |
N/A |
|
Assignee/Purchaser |
Dainippon Ink & Chemicals (HK) Limited |
|
Mortgaged/Charged To |
N/A |
|
Date of Mortgage/Charge |
N/A |
|
Mortgage/Charge Amount (HKD): |
N/A |
|
Property 2 |
Unit 1101, 11/F, East Ocean Centre, 98 Granville Road, Kowloon. |
|
Memorial Number |
UB3123927 |
|
Date of Instrument |
28 Jul 1986 |
|
Nature of Transaction |
S&P |
|
Gross Area (Saleable Area) in sq. ft. |
N/A |
|
Consideration (HKD) |
10,000,000 |
|
Assignor/Seller |
N/A |
|
Assignee/Purchaser |
Dainippon Ink & Chemicals (HK) Limited |
|
Mortgaged/Charged To |
N/A |
|
Date of Mortgage/Charge |
N/A |
|
Mortgage/Charge Amount (HKD): |
N/A |
|
Property 3 |
Unit 1304, 13/F, (part of the unit(s)), East Ocean Centre, 98
Granville Road, Kowloon. |
|
Memorial Number |
UB2423841 |
|
Date of Instrument |
10 Jun 1983 |
|
Nature of Transaction |
S&P |
|
Gross Area (Saleable Area) in sq. ft. |
N/A |
|
Consideration (HKD) |
6,828,300 |
|
Assignor/Seller |
N/A |
|
Assignee/Purchaser |
Dainippon Ink & Chemicals (HK) Limited |
|
Mortgaged/Charged To |
N/A |
|
Date of Mortgage/Charge |
N/A |
|
Mortgage/Charge Amount (HKD): |
N/A |
Related Members
No Trace
Related Companies
No Trace
|
Abbreviations: |
Related companies mean Parent Company, Subsidiary Company, Director's
Other Business/Capacity, etc.
|
Name |
ID/CR No. |
Relation To Subject |
Business Nature |
Country |
|
DIC Asia Pacific Pte Ltd |
N/A |
Parent Company |
N/A |
Singapore |
|
DIC Corporation |
N/A |
Ultimate Parent Company |
N/A |
Japan |
ECONOMIC AND TRADE INFORMATION ON HONG KONG
|
|
2009 |
2010 |
2011 |
Forecast/Latest |
|
Population, Mid-year (million) |
6.97 |
7.02 |
7.07 |
7.14a |
|
Gross Domestic Product (US$billion) |
208.0 |
223.3 |
243.2 |
250.5-252.9b |
|
GDP Per Capita (US$) |
29,800 |
31,800 |
34,400 |
35,100-35,400b |
|
Real GDP Growth (%) |
-2.6 |
+7.1 |
+5.0 |
+1-2b |
|
Inflation (% Change in Composite CPI) |
+0.5 |
+2.4 |
+5.3 |
+4.7c |
|
Unemployment Rate, seasonally adjusted (%) |
5.4 |
4.4 |
3.4 |
3.2d |
|
Retail Sales Growth (%) |
+0.6 |
+18.3 |
+24.9 |
+13.1c |
|
Visitor Arrival Growth (%) |
+0.3 |
+21.8 |
+16.4 |
+15.5c |
a 2012; b government
forecast for 2012; c year-on-year change in January-June 2012; d
April-June 2012.
Merchandise Trade Performance
|
|
2010 |
2011 |
January-June 2012 |
|||
|
US$billion |
Growth % |
US$billion |
Growth % |
US$billion |
Growth % |
|
|
Total Exports |
388.6 |
+22.8 |
427.9 |
+10.1 |
207.6 |
+0.3 |
|
Domestic Exports |
8.9 |
+20.4 |
8.4 |
-5.5 |
3.6 |
-19.4 |
|
Re-exports |
379.7 |
+22.8 |
419.8 |
+10.5 |
204.0 |
+0.7 |
|
Imports |
431.4 |
+25.0 |
482.6 |
+11.9 |
236.0 |
+1.4 |
|
Total Trade |
820.0 |
+23.9 |
910.5 |
+11.0 |
443.6 |
+0.9 |
|
Trade Balance |
-42.8 |
N/A |
-54.8 |
N/A |
-28.4 |
N/A |
Service Trade Performance
|
|
2010 |
2011 |
January-June 2012 |
|||
|
US$billion |
Growth % |
US$billion |
Growth % |
US$billion |
Growth % |
|
|
Exports |
105.7 |
+23.1 |
121.2 |
+14.6 |
60.2 |
+7.6 |
|
Imports |
50.8 |
+16.3 |
55.8 |
+9.8 |
27.4 |
+3.7 |
|
Total Trade |
156.5 |
+20.8 |
177.0 |
+13.1 |
87.6 |
+6.4 |
|
Trade Balance |
54.9 |
N/A |
64.9 |
N/A |
32.8 |
N/A |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
|
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.71.02 |
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 |
|
---- |
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.