|
Report Date : |
16.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
HONG KONG
NICCA CHEMICAL LTD. |
|
|
|
|
Registered Office : |
Unit 1608 & 1610, 16/F., Profit Industrial Building, 1-15 Kwai Fung
Crescent, Kwai Chung, New Territories, |
|
|
|
|
Country : |
Hong Kong. |
|
|
|
|
Date of Incorporation : |
29.01.1988 |
|
|
|
|
Com. Reg. No.: |
11663578 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Chemical Trader (Surfactants,
Textile chemicals) |
|
|
|
|
No. of Employees : |
13. |
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 |
|
Payment Behaviour : |
No Complaints |
|
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 |
HONG KONG
NICCA CHEMICAL LTD.
ADDRESS: Unit
1608 & 1610, 16/F., Profit Industrial Building, 1-15 Kwai Fung Crescent,
Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2462 6232
FAX: 852-2455 2989
E-MAIL: info@hknicca.com
Managing
Director: Mr. Fumio Takeuchi
Incorporated
on: 29th
January, 1988.
Organization: Private
Limited Company.
Capital: Nominal: HK$36,000,000.00
Issued: HK$34,000,000.00
Business Category:
Chemical Trader.
Group
Turnover: ¥31,651 million (Year ended 31-03-2013)
Group
employees: 1,172 (As at 31-03-2013)
Employees: 13.
Main Dealing
Banker: The Sumitomo Bank Ltd.,
Hong Kong Branch. [Merged into
Sumitomo Mitsui Banking
Corporation]
Banking
Relation: Satisfactory.
Registered
Head Office:-
Unit 1608 &
1610, 16/F., Profit Industrial Building, 1-15 Kwai Fung Crescent, Kwai Chung,
New Territories, Hong Kong.
Nicca Chemical Co.
Ltd., Japan.
Demi Beijing
International Trading Co. Ltd., China.
Demi Korea Co.
Ltd., Korea.
Emori Engineering
Co. Ltd., Japan.
EraL Co. Ltd.,
Japan.
Guangzhou Nicca
Chemical Co. Ltd., China.
Nicca Chemical
Research & Development Centre (Shanghai) Co. Ltd., China.
Nicca Korea Co.
Ltd., Korea.
Nicca U.S.A. Inc.,
U.S.A.
Nicca Vietnam Co.
Ltd., Vietnam.
Nikko Chemical
Research Institute, Japan.
PT. Indonesia
Nikka Chemicals, Indonesia.
Rhodia Nicca
Ltd.,Japan.
STC Nicca Co.
Ltd., Thailand.
Taiwan NICCA
Chemical Co. Ltd., Taiwan.
Yamada
Pharmaceutical Co., Japan.
Zhejiang Nicca
Chemical Co. Ltd., China.
11663578
0208966
Managing
Director: Mr. Fumio Takeuchi
Contact Person: Mr. William To
Nominal Share
Capital: HK$36,000,000.00 (Divided into 36,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$34,000,000.00
(As
per registry dated 29-01-2013)
|
Name |
|
No.
of shares |
|
Yansumasa
EMORI |
|
1 |
|
Nicca Chemical Co. Ltd. 23-1, 4-chome,
Bunkyo, Fukui City, 910-8670, Japan. |
|
33,999,999 |
|
|
|
––––––––– |
|
|
Total: |
34,000,000 ======== |
(As
per registry dated 29-01-2013)
|
Name (Nationality) |
Address |
|
Fumio TAKEUCHI |
3-16 Funabashishinmachi, Fukui City, Fukui
Pref., Japan. |
|
Kazuo IGAWA |
10-10, 3-chome, Harumiya, Awara-City,
Japan. |
|
HSIEH Sung-Tsai |
No. 122-2, Alley 1, 24th Neighborhood, Xinzhuang
District, New Taipei City 242, Taiwan. |
|
Yasumasa EMORI |
1-30, 2 Chome Hoei Fukui, Japan. |
|
Mitsuji KUSAKABE |
203, 1 Chome Shizugaoka Fukui, Japan. |
|
CHIAM Jeh-Moh |
3/F., No. 3, Alley 26, Lane 155, Sec.3,
Bade Road, Taipei, Taiwan. |
(As
per registry dated 29-01-2013)
|
Name |
Address |
Co.
No. |
|
Tricor
Strath Ltd. |
Lever 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong. |
0004873 |
The
subject was incorporated on 29th January, 1988 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally
the subject was registered under the name of La Foret Ltd., name changed to
Hong Kong Nikka Chemical Ltd. on 17th May, 1988 and further changed to the
present style on 25th February, 2006.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Chemical Trader.
Lines: Surfactants, Textile chemicals, etc.
Group employees: 1,172 (As at 31-03-2013)
Employees: 13.
Commodities
Imported: China,
Vietnam, Japan, etc.
Markets: China,
other Asian countries, Europe, North America, etc.
Group Turnover: ¥29,091
million (Year ended 31-03-2009)
¥29,385
million (Year ended 31-03-2010)
¥30,810
million (Year ended 31-03-2011)
¥31,022
million (Year ended 31-03-2012)
¥31,651
million (Year ended 31-03-2013)
Terms/Sales: L/C
or as per contracted.
Terms/Buying: As
per contracted.
Nominal Share
Capital: HK$36,000,000.00 (Divided into 36,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$34,000,000.00
Group
Profit/(Loss): (¥
363 million) (Year ended
31-03-2009)
¥ 753 million (Year ended 31-03-2010)
¥ 267 million (Year ended 31-03-2011)
¥ 495 million (Year ended 31-03-2012)
¥ 1,261 million (Year ended 31-03-2013)
Profit or Loss: Group business
was profitable in the past four years.
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: The
Sumitomo Bank Ltd., Hong Kong Branch.
[Merged into Sumitomo Mitsui Banking Corporation]
Standing: Good.
Hong
Kong Nicca Chemical Ltd. is a wholly-owned subsidiary of Nicca Chemical Co. Ltd.
[Nicca] which is a Japan-based firm.
Nicca
is a listed firm in Japan.
The
subject is trading in the same products as Nicca.
Nicca
was established on 15th September, 1941.
With a registered capital of ¥2,898,545,000, it is engaged in
manufacturing the following chemicals:-
1. Manufacturing
and sales of surfactants for the textile chemicals.
2. Manufacturing
and sales of surfactants for metals, pulp & paper, paints, dyes and
synthetic resins.
3. Manufacturing
and sales of surfactants for dry cleaning and professional cleaning agents.
4. Manufacturing
and sales of cosmetics and pharmaceutical products.
The
followings are some of the products of the subject: decorating chalk, gold
colour electroplating series, sublimation ink, textile white ink, dry pigment,
etc.
The
President of Nicca is Yansumasa Emori.
Nicca
has linked its Japanese production centres with those abroad to produce a
global network capable of supplying its products to the world markets whenever
its customers required. Nicca currently
has 12 overseas bases in 8 countries.
This enable it to easing obtain raw materials and to rapidly respond to
meet the needs of its customers worldwide.
In
China the rapidly expanding and broadening textile industry requires suitable
development. To enable this, Nicca has
established a Technical Solution Centre in Shanghai, two production bases and
further three business offices in China.
Additionally
Nicca has established licensing agreements and technical working
relationships. In the textile chemical
and cosmetic field, in many different countries such countries include: Brazil,
Pakistan, England, Italy, Spain, Turkey and Monaco.
Nicca
set up Zhejiang Nicca Chemical Co. Ltd. in 1995.
The
subject has made investments in Zhejiang Nicca.
It also has made investments in Nicca Vietnam Co. Ltd. and Guangzhou
Nicca Chemical Co. Ltd.
The
total employees of Nicca as at end of 31st March, 2013 was 1,172 in Japan.
The
subject has got ISO 9001 certification since 2002. The contact person is Mr. William To who is a
Hongkongnese. Business is active.
The
subject is fully supported by Nicca.
History in Hong Kong is over 25 years and seven months.
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.63.78 |
|
UK Pound |
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.84.66 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.