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Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
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Name : |
DAL MASO GROUP HONG KONG LTD. |
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Formerly Known As : |
GOLDEN BELLE LTD |
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Registered Office : |
18/F., Edinburgh Tower, The Landmark, 15 Queen’s Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.12.2013 |
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Com. Reg. No.: |
34452257 |
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Legal Form : |
Private Limited Liability |
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Line of Business : |
Not Available |
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No. of Employees : |
No employees in
Hong Kong NOTE: It is to be noted that
the company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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
Source
: CIA
DAL MASO GROUP HONG KONG LTD.
Registered Head
Office:-
c/o DLA Piper Hong Kong, Solicitors
18/F., Edinburgh Tower, The Landmark, 15 Queen’s Road Central, Hong Kong.
[Tel: 852-2103 0741, 2103 0808 Fax: 852-2810 1345]
China Factory:-
Dal Maso Leather (Zhongshan) Co. Ltd.
Block 2-5, Shangnan Industrial Park, Fusha Town, Zhongshan City, Guangdong Province, China.
[Tel: 86-760-8618 0826 Fax: 86-760-8618 0834]
Holding Company:-
A.S. Immobiliare S.r.l., Italy.
Associated Company:-
Dal Maso Group S.p.A., Italy.
34452257
0876207
19th December, 2003.
Nominal Share Capital: HK$15,601,000.00 (Divided into 1,560,100 shares of HK$10.00 each)
Issued Share Capital: HK$15,601,000.00
(As per registry dated 19-12-2012)
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Name |
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No. of shares |
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A.S. Immobiliare S.r.l. Malo (VI) Piazza De Gasperi 9, CAP 36034, Italy. |
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1,560,100 ======= |
(As per registry dated 19-12-2012)
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Name (Nationality) |
Address |
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Pierangelo BARCHI |
Via Arzignana 108, 47023 Cesena-Forli, Italy. |
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Marco BERGOZZA |
Corso Fogazzaro 150, 36100 Vicenza, Italy. |
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Carlo DAL MASO |
Via Sant’ Uberto 6, Arzignano (VI), Italy. |
(As per registry dated 19-12-2012)
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Name |
Address |
Co. No. |
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Clarson Services Ltd. |
18/F., Edinburgh Tower, The Landmark, 15 Queen’s Road Central, Hong Kong. |
0582737 |
(See attachment)
The subject was incorporated on 19th December, 2003 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Golden Belle Ltd., name changed to the present style on 21st April, 2004.
Formerly the subject’s registered address was located at 41/F., Bank of China Tower, 1 Garden Road, Central, Hong Kong, moved to the present address in October 2009.
Apart from these, neither material change nor amendment has been ever traced and noted.
Dal Maso Group Hong Kong Ltd. was a wholly-owned subsidiary of Atlantic International AL Assets S.A. which is a Luxembourg-based firm.
Now, it is a wholly-owned subsidiary of A.S. Immobiliare S.r.l. which is also an Italy-based company.
The subject in fact is a member of the Dal Maso Group, Italy.
The subject does not have its own operating office. Its registered office is in a solicitor firm located at “18/F., Edinburgh Tower, The Landmark, 15 Queen’s Road Central, Hong Kong” known as “DLA Piper Hong Kong, Solicitors” which is handling its correspondences and documents. The solicitor firm has had an associated company Clarson Services Ltd. is the corporate secretary of the subject. This company is also located at the above‑mentioned address.
Your given phone and fax number 852-2103 0808 and 852-2810 1345 respectively belongs to DLA Piper Hong Kong, Solicitors.
The subject has no employees in Hong Kong.
Mr. Carlo Dal Maso is the nominal contact person of the subject as most of the time he is in Italy.
To our knowledge, the subject is an associated of Dal Maso Group S.p.A., which was an Italy-based firm.
The subject in fact is a member of the Dal Maso Group.
Situated in the heart of the land of tanning, Dal Maso Group today represents a benchmark for the entire tanning industry in Italy and abroad.
Dal Maso Group was established in 2001 from a branch founded by Dal Maso Callisto, and marked the merging of four large tanneries, Ambra, Arianna, Dal Maso Callisto and Tigre, four manufactures operating completely autonomously but coordinated and organized in their major Strategic decision making.
Dal Maso Group is present in all continents, especially Central and South America (Panama and Brazil) for the sourcing of raw material.
On its aim to develop its globalisation program, the Group has approached the Asian market by creating the subject based in Hong Kong and a representative office in Shenzhen Special Economic Zone, China.
The Group set up a production plant in Zhongshan City, Guangdong Province, China in July 2005. The plant covers an area of 10,000 sq.m. and is able to produce up to 3.5 to 4.0 million sq.ft. of leather per month. Employing about 210 persons, the Zhongshan Plant is administered by Mr. Prerangeb Barchi who is an Italian. With a registered capital of RMB2 million Yuan, the Zhongshan factory is known as Dal Maso Leather (Zhongshan) Co. Ltd.
Currently, the Group has had the following four main companies in Italy:-
Canceria Dal Maso Callisto S.p.A.
Canceria Tigre S.r.l.
Ambra S.p.A.
Ambra Automotive Leather S.r.l.
The annual sales turnover of the Group is rather significant.
The Zhongshan Plant is the main office of the subject.
The Zhongshan Plant deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. The Zhongshan Plant also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not very active. History in Hong Kong is over nine years.
The subject has been banking with Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.
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Date |
Particulars |
Amount |
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08-04-2010 |
Instrument: Security Agreement over Bank Account Property: By way of a first fixed charge all of the Chargor’s rights in respect of any amount standing to the credit of the Account from time to time and the debt represented by it Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure the payment and satisfaction of all present and future obligations and liabilities |
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08-04-2010 |
Instrument: Charge Over Securities – Section 1 (08) Property: 1) All the Company’s rights, title and interest in and to: (a) all, stocks, shares, bonds, debentures, certificates of deposit, promissory notes, units in any trust, units or other interests in any collective investment scheme and other securities; and (b) all securities 2) All rights in relation to any Securities 3) All dividends, interest or other distributions paid or to be paid on any of the Securities and the Rights and all allotments, accretions, offers, rights, benefits and advantages Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
All moneys, obligations and liabilities |
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01-11-2012 |
Instrument: Deposit Deed Property: By way of a first fixed charge and as a continuing security for the Obligations, the company charges and assigns absolutely all its right, title to and interest in the accounts and all deposit from time to time in the accounts and the accouonts maintained with Citibank, N.A., any branch or Citibank (Hong Kong) Ltd. Mortgagee: Citibank N.A., Hong Kong Branch. |
All moneys now or at any time in the futureowing by the company |
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses the
address of its secretariat as its correspondence address only. Subject operates
from some other country and does not have a base in Hong Kong. Such companies
are registered in Hong Kong just to tax benefit purpose and due to the strict
privacy laws prevailing in the country. In such cases, the companies
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.78 |
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1 |
Rs.99.06 |
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Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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.