|
Report Date : |
12.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUP RETAIL (HONG KONG) LTD. |
|
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Registered Office : |
2/F., C & C Building, 36 Ting Lai Road, Tai Po, New Territories |
|
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Country : |
Hong Kong |
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Date of Incorporation : |
08.02.2005 |
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Com. Reg. No.: |
35335606 |
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|
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Legal Form : |
Private Limited Company |
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Line of Business : |
Book, Magazine and Artwork Retailer of Books, Magazines, Electronic
Media, Calligraphy, Art. |
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No. of Employees : |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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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 |
SUP RETAIL (HONG
KONG) LTD.
2/F., C & C Building, 36 Ting Lai Road, Tai Po, New Territories,
Hong Kong.
PHONE: 852-2150 2100, 2159 36981
FAX: 852-2356 0735
Vice Chairman & Managing Director:
Mr. Chan Man Hung
Incorporated on: 8th February, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$500,000.00
Business Category: Book,
Magazine and Artwork Retailer.
Employees: 25.
Main Dealing Banker: Bank of
China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Good.
SUP RETAIL (HONG
KONG) LTD.
Registered Head
Office:-
2/F., C & C Building, 36 Ting Lai Road, Tai Po, New Territories,
Hong Kong.
Holding Company:-
Sino United Publishing (Holdings) Ltd., Hong Kong.
Ultimate Holding
Company:-
Xin Wenhau (Hong Kong) Development Co. Ltd., Hong Kong.
Associates
Companies:-
Bailey Record Co. Ltd., Hong Kong.
Beijing Silverpeong Printing Co. Ltd., China.
Bisenet.com Co. (Beijing) Ltd., China.
Bisenet.com Co. (H.K.) Ltd., Hong Kong.
C & C Joint Printing Co. (Beijing) Ltd., China.
C & C Joint Printing Co. (Guangdong) Ltd., China.
C & C Joint Printing Co. (H.K.) Ltd., Hong Kong.
C & C Joint Printing Co. (Shanghai) Ltd., China.
C & C Offset Printing Co. (Chicago) Inc., USA.
C & C Offset Printing Co. (NY) Inc., USA.
C & C Offset Printing Co. (UK) Ltd., UK.
C & C Offset Printing Co. (USA) Inc., USA.
C & C Offset Printing Co. Ltd., Hong Kong.
C & C Printing Japan Co. Ltd., Japan.
C & C RFID (Shanghai) Co. Ltd., China.
C & C Security Printing (Macau) Co. Ltd., Macau.
C & C Security Printing Co. (Shenzhen) Ltd., China.
C & C Security Printing Co. Ltd., Hong Kong.
Chung Hwa Book Co. (Hong Kong) Ltd., Hong Kong.
Chung Hwa Book Co. (S) Pte. Ltd., Singapore.
Eastwind Books & Arts Inc., USA.
Guangdong Sino United Publishing Co. Ltd., China.
Hong Kong Open Page Publishing Co. Ltd., Hong Kong.
Joint Publishing (Hong Kong) Co. Ltd., Hong Kong.
K L Commercial Book Co. (M) Sdn. Bhd., Malaysia.
Kiu Sheung Investment Co. Ltd., Hong Kong.
Lee Yuen Subscription Agencies Ltd., Hong Kong.
Oriental Culture Enterprises Co. Inc., USA.
Plaza Cultural Macau Limitada, Macau.
Pok Art House Ltd., Hong Kong.
Shanghai Anji Anti-Counterfeiring Technology Service Ltd., China.
Shanghai Security Printing Co. Ltd., China.
Shenxhen Vision Paper Art Co. Ltd., China.
Shenzhen C & C Joint Printing Co. Ltd., China.
Shenzhen Pok Art Co. Ltd., China.
Sinminchu Publishing Co. Ltd., Hong Kong.
Sino United Digital Publishing Service Ltd., China.
Sino United Electronic Publishing Ltd., Hong Kong.
Sino United Publishing (Canada) Ltd., Canada.
Sino United Publishing (LA) Inc., USA.
Sino United Publishing (Toronto) Ltd., Canada.
Sino United Publishing (U.K.) Ltd., UK.
Sino United Publishing (U.S.) Inc., USA.
Sino-Commercial Trading Corporation, China.
Spring Cultural Innovation Development (Shenzhen) Co. Ltd., China.
Spring Innovative Workshop Co. Ltd., Hong Kong.
Sun Ya Publications (Hong Kong) Ltd., Hong Kong.
SUP Publishing Logistics (HK) Ltd., Hong Kong.
The Commercial Press (Hong Kong) Ltd., Hong Kong.
The Commercial Press (S) Pte. Ltd., Singapore.
Tianjin Yunxing Printing Ink Co. Ltd., China.
Tsi Ku Chai Co. Ltd., Hong Kong.
Wan Li Book Co. Ltd., Hong Kong.
etc.
35335606
0950986
Vice Chairman & Managing Director:
Mr. Chan Man Hung
Nominal Share Capital: HK$500,000.00
(Divided into 5,000 shares of HK$100.00 each)
Issued Share Capital: HK$500,000.00
(As per registry dated 08-02-2013)
|
Name |
|
No. of shares |
|
Sino United Publishing (Holdings) Ltd., Hong Kong. |
|
5,000 ==== |
(As per registry dated 08-02-2013)
|
Name (Nationality) |
Address |
|
LEE Wai Sum |
Flat D, 17/F., Block 5, Ravana Garden, Shatin, New Territories,
Hong Kong. |
|
YIP Pui Chu |
Flat 6, 12/F., Block A, Plover Cove Garden, Taipo,
New Territories, Hong Kong. |
|
LI Jiping |
Room 401A, 4/F., Chung Hwa Building, 5 Ma Hang Chung Road, Tokwawan,
Kowloon, Hong Kong. |
|
LUK Steven Kwok |
Flat B, 6/F., Block 10, Villa Athena, 600 Sai Sha Road, Ma On Shan,
New Territories, Hong Kong. |
|
NG Ching Yee |
Flat C, 5/F., Jade Garden, 6 Ede Road, Kowloon Tong, Kowloon, Hong
Kong. |
|
CHAN Kam Cho |
Flat A3, 5/F., 25 Electric Road, Causeway Bay, Hong Kong. |
|
LUI Sze Ah |
Room C, 18/F., 42-48 Java Road, North Point, Hong Kong. |
|
LI Ka Ming |
Flat 7, 5/F., Block F, 15-17 On King Street, Garden Vista, Shatin, New
Territories, Hong Kong. |
|
CHEUNG Kwok Wah |
Flat C, 37/F., Tower 2, 18 Yeung Uk Road, The Dynasty, Tsuen Wan, New
Territories, Hong Kong. |
|
CHAN Man Hung |
Flat C, 25/F., Tower 1, Central Park, 18 Hoi Ting Road, Kowloon, Hong
Kong. |
(As per registry dated 08-02-2013)
|
Name |
Address |
Co. No. |
|
FT Secretarial Services Ltd. |
Unit G, 10/F., Seabright Plaza, 9-23 Shell Street, North Point, Hong
Kong. |
0312831 |
The subject was incorporated on 8th 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: Book, Magazine and Artwork Retailer.
Lines: Books,
Magazines, Electronic Media, Calligraphy, Art.
Employees: 25.
Commodities Imported: China,
bought in Hong Kong, other Asian countries, etc.
Markets: Hong Kong, China, Macau, Malaysia,
Singapore, Europe, US and Canada.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$500,000.00
(Divided into 5,000 shares of HK$100.00 each)
Issued Share Capital: HK$500,000.00
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.
Banker: Bank of China (Hong Kong) Ltd.,
Hong Kong.
Standing: Normal.
Having issued 5,000 ordinary shares of HK$100.00 each, SUP Retail
(Hong Kong) Ltd. is a wholly-owned subsidiary of Sino United Publishing
(Holdings) Ltd. [SUPHL] which is a Hong Kong-based company. SUPHL is a significant book publisher and
distributor in Hong Kong.
SUPHL was established in 1988.
Its predecessor was the Hong Kong General Administration Office for
Joint Publishing Company, Chung Hwa Book Company and the Commercial Press.
The subject is engaged in retailing all kinds of books and magazines
published by SUPHL and its associates.
It is also engaged in retailing electronic media, calligraphy, art,
stationery, office equipment, etc.
The subject is a member of the SUP Group of Companies.
The subject has had a main associated company SUP Publishing Logistics
(HK) Ltd. [SUPPL], a Hong Kong-registered firm located at the same building.
In order to keep pace with its business development and enhance its
competitiveness, the Group set up the SUPPL in 2004. It takes up all the logistics of wholesaling
and warehouses originally done by five publishing houses, thus acting as a
platform centralizing logistics of the Group’s business. SUPPL connects with
over 300 publishing houses and close to 1,000 bookstores from Hong Kong as well
as various places around the world. It
is a book wholesaler in Hong Kong having a wide-reaching wholesaling network
and possessing a workplace with an area of over 100,000 sq.ft. accommodating
modernized logistics operating systems and logistics work teams.
The SUP Group is a well-established publishing conglomerates in Hong
Kong, but it is not confined to the Hong Kong market. It has business entities in Macau, China,
Singapore, Malaysia, the United States, Canada and the United Kingdom. Core operations include publishing,
wholesaling and retailing of books, newspapers and magazines. Other areas are audio-visual products,
Chinese arts, stationeries, stamps, etc.
Under the Group there are more than 60 retail shops worldwide, and more
than 40 of which are located in Hong Kong and Macau, occupying a substantial
share in the local market. The group is
enthusiastic about participating in the new technology in publishing.
The Group is retailing the following products: Books & Printed
Matter Publishing, Accounting / Finance / Economics Title Publishing, Art /
Design Title Publishing, Business / Management Title Publishing, Children Title
Publishing, Dictionary / Encyclopaedia Publishing, Educational / Reference Book
Publishing, Fiction / Biographies / Classics Literature Publishing, History /
Geography Title Publishing, Language Title Publishing, Law / Politics Title
Publishing, Medical Title Publishing, Science / Technology Title Publishing,
Textbook Publishing, Cassette Tape Publishing, CD-ROM Publishing, Magazine
Publishing, Video Tape Publishing, etc.
The board of the holding company is the superior decision-making
body. The Chairman is the chief
executive officer of the Group.
With publishing as the core of its operations, the Group is also engaged
in wholesaling and retailing books and magazines, engaged in printing,
newspaper publishing and even property investment.
The six publishing companies of the Group - Joint Publishing, Chung Hwa,
The Commercial Press, Wan Li, Sun Ya and Lee Man - jointly produce one‑third
of the total output of Chinese books published in Hong Kong. Many of their publications have been awarded
Best Produced Books of the Year and Print Awards in local competitions
organized by the Urban Council, Hong Kong Publishing Professionals Society, the
Graphic Arts Association and the Hong Kong Trade Development Council. A number of the publications also received
trophies from similar events held in the United States, Germany and China. With the advent of multi-media in the
publishing industry, the Group set up its own electronic publishing company in
early 1993 to produce and market a line of CD-ROM and CD-1 titles.
Each of the publishing companies has a strong sales force covering local
distribution. Additionally they have
established a worldwide distribution network over the past several
decades. They are not only selling their
own publications, but also acting as distribution agencies for a number of
local and overseas publishers. Joint
Publishing Co. also serves as the sole agent of publications in the Chinese
language by all publishers from the Chinese Mainland.
Retailing is one of the major operations of the Group, with around 20
bookshops all over the Hong Kong region.
In Macao, the Plaza Cultural Macau Limidada, with a sales area of over
10,000 sq. ft., is the largest bookshop in town.
Since the advent of the eighties, the group of companies has time and
again helped organize book fairs in China.
As annual participants at the Frankfurt Book Fair, the Beijing
International Book Fair and various other book fairs, the group members are
actively involved in the copyright trade with their counterparts from around
the world.
In Singapore, the subject and its subsidiary, The Commercial Press
Ltd. Singapore Branch, have in the past
ten years acted as sponsors of the World Chinese Book Fair organized by the two
local Chinese newspapers, Lianhe Zaobao and Lianhe Wanbao.
In Hong Kong, the Group has hosted a number of book fairs including the
China Book Fair, Shanghai Book Fair, Sichuan Book Fair, Northeastern Book Fair,
Gansu Book Fair, Hunan Book Fair, Chinese Cultural Publication Festival and the
Grand Exhibition of Reference Books of China’s Universities. It is also a sponsor of the Hong Kong Book Fair
organized by the Hong Kong Trade Development Council.
C & C Joint Printing Co., the printing arm of the Group, ranks among
one of the largest printers in Hong Kong, with eight subsidiaries and five
joint ventures in many countries of the world.
The C & C Offset Printing Co. and the C & C Security Printing
Co. have received wide recognition for their high quality and good
services. Among their clients are many
well-known local and overseas publishers and business concerns, design firms,
banks and financial institutions.
Apart from book and newspaper publishing, the Group is also engaged in
the production and distribution of audio-visual products including musical CD’s
and tapes, motion picture videotapes, as well as language tapes and DIY videos.
To sum up the Group’s business activities, one must add the trading of
Chinese arts, especially old and contemporary Chinese paintings and
calligraphic works through Tsi Ku Chai and Pok Art House, two prestigious art
galleries well-known to most local and overseas collectors.
The Group’s real estate developer, Kiu Sheung Investment Co., plays a
very important role in its operations.
Over ninety percent of the offices, warehouses, retail shops and factory
buildings used by the Group is owned and managed by this company. In recent years, the Group has joined forces
with other developers to invest in commercial properties, the S U P Tower being
its maiden venture which has turned out to be a tremendous success.
The Group has about 1,600 employees in Hong Kong while there are about
30 in its head office.
The annual sales turnover of the Group ranges from HK$2.8 to 3.0
billion. Overall business is active.
The history of the subject in Hong Kong is over eight years.
On the whole, in view of the background of the subject, consider it good
for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.90 |
|
|
1 |
Rs.100.47 |
|
Euro |
1 |
Rs.84.65 |
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.