MIRA INFORM REPORT
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Report Date : |
25.05.2013 |
IDENTIFICATION DETAILS
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Name : |
SACMI HONG KONG LTD. |
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Registered Office : |
Room A & B, 16/F., Neich Tower, 128 Gloucester Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.07.1991 |
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Com. Reg. No.: |
15242158 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of All kinds of machinery and equipment |
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No. of Employees : |
10. |
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 : |
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
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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.
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Source
: CIA |
Company name
SACMI HONG KONG
LTD.
ADDRESS
Room A & B, 16/F., Neich Tower, 128 Gloucester Road, Wanchai,
Hong Kong.
PHONE: 2598 8373, 2598 8801
FAX: 2598 5132, 2598 7917,
2598 0950
E-MAIL: sacmihk@sacmihk.com
mauro_masini@sacmihk.com
MANAGEMENT
General Manager: Mr. Mauro Masini
SUMMARY
Incorporated on: 2nd July, 1991.
Organization: Private
Limited Company.
Capital: Nominal: HK$6,750,000.00
Issued: HK$6,750,000.00
Business Category: Machinery
Trader.
Group Turnover: €1,400 million (2012) - [Estimated]
Employees: 10. (Hong Kong)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company name
SACMI HONG KONG LTD.
ADDRESS
Registered Head
Office:
Room A & B, 16/F., Neich Tower, 128 Gloucester Road, Wanchai, Hong Kong.
Foshan Commercial Branch:-
Nanhai Economic Development Zone, North Park, Xinye North Road, Shishan
Town, Nanhai District, 528222 Foshan City, Guangdong Province, China.
[ Tel: 86-757-8227
5937, 8227 5847
Fax: 86-757-8227 5867
E-mail: sacmi_foshanbranch@sacmi.cn]
Holding Company:-
H.P.S. S.p.A., Italy.
Ultimate Holding
Company:-
Sacmi Imola S.C.
Via Selice Provinciale 17/A, 40026 Imola, Bologna, Italy.
[Tel: 39 0542 607111; Fax: 39
0542 642354]
Associated/Affiliated
Companies:-
Sacmi Group of Companies
Alpha Ceramics GmbH, Germany.
Carle & Montanari S.p.A., Italy.
Carle & Montanari U.S.A. Inc., USA.
Fima S.r.l., Italy.
Gaiotto Automation S.p.A., Italy.
Grade Two Ltd., UK.
Hayes Machine Co. Inc., USA.
HPS - Sinergia S.p.A., Italy.
IN.TE.SA S.p.A., Italy.
Iprel Progetti S.r.l., Italy.
Italiansped Ltd., Russian Federation.
Italiansped S.p.A., Italy.
KEMAC - Sacmi Impianti S.p.A., Italy.
Keratech S.p.A., Italy.
Laeis (Dalian) Trading Co. Ltd., China.
Laeis GmbH, Luxembourg.
Matrix S.r.l., Italy.
Moldes Ceramicos S.A. de C.V., Mexico.
Molds & Dies Ltd., USA.
Negri Bossi France S.A.S., France.
Negri Bossi Inc., Canada.
Negri Bossi Ltd., UK.
Negri Bossi Mexico S.A. de C.V., Mexico.
Negri Bossi S.A., Spain.
Negri Bossi S.p.A., Itlay.
Negri Bossi USA Inc., USA.
Nuova Fima S.p.A., Italy.
Oima S.p.A., Italy.
OOO Sacmi Mosca Ltd., Russian Federation.
OPM S.p.A., Italy.
P.T. Indosped Maju Sejahtera, Indonesia.
P.T. Molds & Dies Indonesia, Indonesia.
Pet Projecta S.r.l., Italy.
Plastinject S.p.A., Italy.
Protesa S.p.A., Italy.
Riedhammer GmbH, Germany.
Riedhammer Japan Co. Ltd., Japan.
Roboline S.r.l., Italy.
Sacmi (Changshu) Machinery Equipment Co. Ltd., China.
Sacmi (Shanghai) Machinery Equipment Co. Ltd., China.
Sacmi Beverage de Mexico S.A. de C.V., Mexico.
Sacmi Beverage Venezuela C.A., Venezuela.
Sacmi de Mexico S.A. de C.V., Mexico.
Sacmi Deutschland GmbH, Germany.
Sacmi do Brasil Industria e Comercio Ltda., Brazil.
Sacmi Engineering (India) Pvt. Ltd., India.
Sacmi Filling S.p.A., Italy.
Sacmi Forni S.p.A., Italy.
Sacmi Iberica S.A., Spain.
Sacmi Impianti India, India.
Sacmi Impianti S.A. Argentina, Argentina.
Sacmi Impianti S.p.A., Italy.
Sacmi Iran Sazeh Ceramic & Material Iranian Co., Iran.
Sacmi Istanbul Sanayi Ve Tic. Ltd. Sti., Turkey.
Sacmi Labelling SCM S.p.A., Italy.
Sacmi Machinery (Foshan Nanhai) Co. Ltd., China.
Sacmi Mechinery (Foshan Nanhai) Co. Ltd., China.
Sacmi Middle East, UAE.
Sacmi Molds & Dies S.p.A., Italy.
Sacmi Packaging S.p.A., Italy.
Sacmi Pakim S.r.l., Italy.
Sacmi Polska Sp. z o.o., Poland.
Sacmi Portugal, Portugal.
Sacmi Singapore Pte. Ltd., Singapore.
Sacmi USA Ltd., USA.
Sacmi Verona S.p.A., Italy.
Sacmi Vietnam, Vietnam.
Sacmi West Europe Beverage Technology, France.
Sama Maschinenbau GmbH, Germany.
Sima S.r.l., Italy.
etc.
BUSINESS REGISTRATION NUMBER
15242158
COMPANY FILE NUMBER
0316057
MANAGEMENT
General Manager: Mr. Mauro Masini
Executive Secretary: Ms. Pennie
Ko
Financial Manager: Mr. Roger Lee
GM Assistant: Ms. Jennifer Yeo
Sales Manager: Mr. Li Qiang Hui
CAPITAL
Nominal Share Capital: HK$6,750,000.00
(Divided into 6,750,000 shares of HK$1.00 each)
Issued Share Capital: HK$6,750,000.00
SHAREHOLDER
(As per registry dated 02-07-2012)
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Name |
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No. of shares |
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H.P.S. S.p.A. Via Selice Provinciale 17/A, 40026 Imola, Bologna, Italy. |
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6,750,000 ======= |
DIRECTORS
(As per registry dated 02-07-2012)
|
Name (Nationality) |
Address |
|
Stefano FOSCHINI |
Via Malpighi, 29-48018 Faenza (RA), Italy. |
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Giovanni LANCIERI |
Via Tinti nr. 9, 40026 Imola (Bologna), Italy. |
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Valerio GUERRINI |
Via Don Minzoni G., 14-48010 Fusignano (RA), Italy. |
SECRETARY
(As per registry dated 02-07-2012)
|
Name |
Address |
Co. No. |
|
Tricor Strath Ltd. |
Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong. |
0004873 |
HISTORY
The subject was incorporated on 2nd July, 1991 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Tarsel Ltd.,
name changed to the present style on 9th January, 1992.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer
and Exporter.
Lines: All
kinds of machinery and equipment.
Employees: 10. (Hong Kong)
160. (China)
Commodities Imported: Imported
from Italy, Europe, US, etc.
Markets: Hong
Kong, China, other Asian countries, Europe, North America, etc.
Group Turnover: €1,243
million (2007)
€1,172 million (2008)
€
972 million (2009)
€1,030 million (2010)
€1,303 million (2011)
€1,400 million (2012) [Estimated]
Terms/Sales: L/C or as per
contracted.
Terms/Buying: As per contracted.
MEMBERSHIP
The Italian Chamber of Commerce in Hong Kong and Macao, Hong Kong.
FINANCIAL INFORMATION
Nominal Share Capital: HK$6,750,000.00
(Divided into 6,750,000 shares of HK$1.00 each)
Issued Share Capital: HK$6,750,000.00
Group EBIT: € 85 million
(2007)
€ 84
million (2008)
€ 54
million (2009)
€ 73
million (2010)
€124 million
(2011)
€130 million
(2012) - [Estimated]
Group Net Worth: €533
million (2007)
€541 million
(2008)
€541 million
(2009)
€548 million
(2010)
€572 million
(2011)
€580 million
(2012) - [Estimated]
Profit or Loss: Making
a small profit every year.
Condition: Keeping in an active
condition.
Facilities: Making active use of general
banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Very Good.
GENERAL
Sacmi Hong Kong Ltd. is a wholly-owned subsidiary of H.P.S. S.p.A. [HPS]
which is an Italy-based firm. The
ultimate holding company Sacmi Imola S.C. [Sacmi Imola] is also an Italy-based
firm. The subject is a member of the
Sacmi Group.
The subject, through its representative offices in China and Vietnam (Hanoi
and Hochiminh), is promoting sales, marketing and after-sales services for and
on behalf of the parent company — Sacmi Imola which is a leading manufacturer
of machinery and complete plants for ceramic tiles, sanitary ware, tableware
and refractory industries, as well as closure, filling, labelling and packing
industries.
The subject’s services, including also the technical and technological
assistance to assembly and start-up and original Sacmi spare parts warehouse,
are mainly carried out in China, Vietnam, Japan, South Korea and Taiwan. Maintenance, technological assistance and
after-sales are provided through the workshop and the laboratory of the Foshan
office, Guangdong Province, China which now has about 160 employees working in
a facility of 2,500 sq.m.
The Foshan office is formally known as Sacmi Hong Kong Ltd. Foshan
Commercial Branch. Another firm known as
Sacmi Machinery (Foshan Nanhai) Co. Ltd. which is also a member of the Sacmi
Group is also located at the Foshan office.
The subject is engaged in providing customers with after-sales services
in China. It has set up representative
offices in Hanoi and Hochiminh of Vietnam, besides the Foshan office.
The Group also has set up a company in Shanghai known as Sacmi
(Shanghai) Machinery Equipment Co. Ltd..
The Group’s Foshan company has then become the headquarter for the
Ceramic field while Shanghai is the headquarter for the Packaging field.
The subject is the regional office of Sacmi Group and the parent company
is Sacmi Imola. Sacmi Imola was founded
in 1919 and its activities include complete turn-key plants for ceramic tiles,
sanitary ware, tableware, refractory and packaging fields, including machinery
manufacturing, complete plants supply, spare parts production and supply, technical/technological
assistance and know-how.
While the Group’s core business has traditionally been – and remains –
the design and construction of machines and complete plants for the ceramic
industry, Sacmi has steadily branched out into other areas and now has four
operating divisions, consisting of companies specialised in cutting-edge
technologies:-
- Beverage and Packaging;
- Ceramics;
- Food Processing and Inspection Systems;
&
- Plastics.
The headquarter, with the main workshop, ceramic and packaging research
labs in Sacmi Imola, have employed about 1,000 staff. Thousands of Sacmi machine are in use all
over the world and exports account for around 85% of the Group’s total
business.
Sacmi Imola is an international group manufacturing machines and
complete plants for the Ceramics, Beverage and Packaging, Processing and
Plastics industries – markets in which it is a recognized worldwide
leader. The strengths of both sides of
the business lie in the application of innovative technology, the
well-established position the Group holds on international markets and its
commitment to research in order to ensure consistent top quality and service to
the clients.
Already world market leader in the ceramic machinery industry, Sacmi has
in fact significantly contributed – with deep product and process innovations –
to the development of avant-garde solutions for the beverage industry,
establishing itself today as the only company in the world capable of offering
not only competitive “stand alone” solutions but also and above all integrated
lines, from raw materials to bottles, from filling to labelling up to quality
control.
The 2012 Group total sales amounted to
€1,400 million, it is estimated (2011: €1,303 million). Its EBIT was estimated to be €130 million, as
compared with €124 million in FY 2011.
The Sacmi Group has production plants, distribution companies and
service companies in 26 countries, and the parent company in Imola (Bologna,
Italy) now controls over 70 firms via the holding company HPS.
For the year ended 2012, Sacmi Group has about 4,000 employees in 82
companies and more than 3,000 clients all over the world.
The subject is fully supported by the Sacmi Group.
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.99 |
|
|
1 |
Rs.84.19 |
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Euro |
1 |
Rs.71.86 |
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 |
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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.