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Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
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Name : |
DONMING GROUP LTD. |
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Registered Office : |
Room 508, 5/F., Tower 1, Silvercord, 30 Canton Road, Tsimshatsui, Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.01.1996 |
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Com. Reg. No.: |
19627552 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and distributor of Shoe manufacturing equipment,
raw materials for manufacturing of shoes and related products. |
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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 are not required to have any employees in Hong Kong nor do have an
office there. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
|
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
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
DONMING GROUP LTD.
ADDRESS: c/o Asiabest Ltd.
Room 508, 5/F., Tower 1, Silvercord, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2375 3776
FAX: 852-2730 2015
E-MAIL: zahonehk@netvigator.com
Managing Director: Mr. Antonio Sempere Llorca
Incorporated on: 18th January, 1996.
Organization: Private Limited Company.
Capital: Nominal:HK$10,000.00
Issued: HK$10,000.00
Business Category: Footwear Component Trader.
Employees: Nil.
Main Dealing Banker: Banco Santander Central Hispano S.A., Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Office:-
c/o Asiabest Ltd.
Room 508, 5/F., Tower 1, Silvercord, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
Mailing Address:
G.P.O. Box 582, Hong Kong.
Sales Office:-
Zahonero Shoes Components Co. Ltd.
45, 5 Huanglong Street, Zhenan Shoes Material Market, Wenzhou, China. [Tel/Fax: 0577-8872 3178]
Production Plants:-
Zahonero Hi-Tech Latex Products (Guangzhou) Co. Ltd., China.
Zahonero Shoes Components (Guangzhou) Co. Ltd., China.
Holding Company:-
Zahonero Virgili S.L.
Avda. De Monovar, 39 Elda, Spain.
[Tel: 34-96-5394011; Fax: 34-96-5397769]
Associated
Companies:-
Aquitex S.A. de C.V., Mexico.
Brazilian Trends & Fabrics S.L., Brazil.
dBCover Solutions S.L., Spain.
Espumasinos Industrias Quimicas Ltda., Brazil.
Funcom S.A., Mexico.
Latex Solutions S.L., Spain.
Mexican Trends & Fabrics S.L., Mexico.
Zahonero Artigos para Calçado Ltda., Portugal.
Zahonero India Pvt. Ltd., India.
Zahonero S.A., Mexico.
Zahonero S.L., Spain.
Zahonero S.R.L., Italy.
etc.
19627552
0536458
President: Mr. Jorge Juan Zahonero Virgili
Managing Director: Mr. Antonio Sempere Llorca
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 18-01-2013)
|
Name |
|
No. of shares |
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Zahonero Virgili S.L. Avda. De Monovar, 39 Elda, Spain. |
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9,999 |
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Jorge Juan ZAHONERO VIRGILI |
|
1 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 18-01-2013)
|
Name (Nationality) |
Address |
|
Francisco ZAHONERO PÉREZ |
Avda. Martinez Gonzalez 11, Elda, Spain. |
|
Antonio SEMPERE LLORCA |
C2-26B in BabylonLuxury Parel River New City, Guangzhou, China. |
|
Igor BURGOS LOBATO |
No. 1, 82 Street, Fen Ya Garden, Phoenix City, Guang Yuan East Road, Xing Tang Section, Zeng Cheng District of Guangzhou, China. |
|
Jorge Juan ZAHONERO VIRGILI |
Av. Dr. Ramon y Cajal, 5 Alicante, Spain. |
(As per registry dated 18-01-2013)
|
Name |
Address |
Co. No. |
|
Asiabbest Ltd. |
Room 508, 5/F., Tower 1, Silvercord, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong. |
0303810 |
The subject was incorporated on 18th January, 1996 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject’s registered office moved from PricewaterhouseCoopers Ltd.’s office located at 22/F., Prince’s Building, Central, Hong Kong to Strath Corporate Services Ltd.’s office at 24/F. of the same building effective 10th March, 2003.
The subject’s registered address moved to the present address in April 2006.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Distributor.
Lines: Shoe manufacturing equipment, raw materials for manufacturing of shoes and related products.
Employees: Nil.
Commodities Imported: Mainly imported from Spain, Portugal, India, etc.
Market: China.
Terms/Sales: As per contracted.
Terms/Buying: On various terms.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Keeping a balance record in Hong Kong.
Condition: Business is not active in Hong Kong.
Facilities: Making rather active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Bankers:-
Banco Santander Central Hispano S.A., Hong Kong Branch.
Banco Bilbao Vizcaya Argentaria S.A., Hong Kong Branch.
Standing: Small.
Donming Group Ltd. is a private limited company incorporated on 18th January, 1996. It is a wholly-owned subsidiary of Zahonero Virgili S.L., a Spain-based firm.
The subject’s registered address is in a commercial service firm located at Room 508, 5/F., Tower 1, Silvercord, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong known as Asiabest Ltd. which is handling its correspondences and documents. This company is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
Mr. Antonio Sempere Llorca has been in Hong Kong for a very long time as he is a Hong Kong ID holder.
However, the subject’s main office is in Guangzhou City, Guangdong Province, China.
The subject is dealing in footwear components which are manufactured by its associated factories in Guangzhou known as Zahonero Shoes Components (Guangzhou) Co. Ltd. [Zahonero Shoes] and Zahonero Hi-Tech Latex Products (Guangzhou) Co. Ltd. [Zahonero Latex]. Both firms are in Guangzhou Economic Technological Development District [GETDD], Guangzhou City, Guangdong Province, China.
Your given phone number 86-20-8297 7633 belongs to Zahonero Latex which is a member of Hong Kong Footwear Association.
Zahonero Shoes manufactures and sells latex form, rubber, thermoplastic rubber [TPR], and thermo-shaped insoles.
Most of the time, Mr. Antonio Sempere Llorca is stationing at the China factories.
Zahonero Shoes is one of the key members of The Zahonero Group [Zahonero]. Located in GETDD, Zahonero Shoes has a production capacity to meet the needs of the Chinese market and bordering countries.
The China factory has a gross area of 30,000 sq.m. of which 1,300 sq.m. for offices, 3,375 sq.m. for production facilities, 1,875 sq.m. for warehouse and 820 sq.m. for laboratories, workshops, boiler room, etc.
Zahonero Latex covers an area of 15,000 sq.m. It has been mainly planned for the production of latex foam. It has two manufacturing lines for this product, each with an annual production capacity of 3.5 million sq.m. There is another line for high and low densities polyurethane foam which can manufacture 1,500 m³ per month. And a third line for polyfoam insoles, with 30 presses and a monthly production capacity of half a million pairs.
The subject is also a sales office which provides logistical support for the exports of the products made in China.
Zahonero has been present in China since 1996 when the subject was opened in Hong Kong. Since then, the introduction of Zahonero Group in China has taken place steadily. In 1998, a pilot factory was opened in Huangpu, Guangzhou, and, with the opening of Zahonero Shoes, the Group has settled in the most important market in the world, consolidating its international expansion process.
Now, Zahonero Group has set up associated companies or subsidiaries in Spain, Italy, Portugal, Mexico, Argentina, Brazil, India, etc. dealing in the following raw materials: latex foam, polyurethane foam, flaming lamination, thermo-moulded EVA, thermo-moulded polyurethane, etc.
Zahonero has built up a worldwide reputation for high quality specialist latex foams used in goalkeeper gloves, such as KONTAKT, SOFTY, SOFTY 50, etc.
Currently, Mr. Jorge Juan Zahonero Virgili is the president of the Zahonero Group.
Zahonero Group is a Spain based company located in Alicante that is specialized in manufacturing of shoes, covering every stage of production such as: thermoplastic rubber and PVC, fabric lamination, latex foams elaborated from natural and synthetic polymers that are mainly used for insoles, counter pockets and padding, leather soles, and moulded EVA, which is used as a sole or middle sole in sports, regular and beach shoes.
Besides trading in the materials of shoes, Zahonero Group also trades in building materials, sporting equipment, bed products, etc.
The subject’s business in Hong Kong is not active. History in Hong Kong is about sixteen years and eight months.
On the whole, consider the subject good for normal business engagements.
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
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
|
1 |
Rs.100.86 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.