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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
Hansei Corporation |
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Formerly Known As : |
HANSEI TRADING
CO. INC., |
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Registered Office : |
Unit 303, Victoria
Tower C, # 79 Panay cor. Timog Avenues, Quezon City |
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Country : |
Philippines |
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Financials (as on) : |
2011 |
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Date of Incorporation : |
16.05.1989 |
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Com. Reg. No.: |
0000163515 |
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Legal Form : |
Private Company |
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Line of Business : |
Trading, local and Indent orders of
engineering equipment, materials and structural work. |
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No. of Employees : |
Not Available |
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Philippines |
B1 |
B1 |
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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 |
PHILIPPINES - ECONOMIC OVERVIEW
Philippine GDP growth, which cooled from 7.6% in 2010 to 3.9% in 2011, expanded to 6.6% in 2012 - meeting the government's targeted 6%-7% growth range. The 2012 expansion partly reflected a rebound from depressed 2011 export and public sector spending levels. The economy has weathered global economic and financial downturns better than its regional peers due to minimal exposure to troubled international securities, lower dependence on exports, relatively resilient domestic consumption, large remittances from four- to five-million overseas Filipino workers, and a rapidly expanding business process outsourcing industry. The current account balance had recorded consecutive surpluses since 2003; international reserves are at record highs; the banking system is stable; and the stock market was Asia's second best-performer in 2012. Efforts to improve tax administration and expenditure management have helped ease the Philippines' tight fiscal situation and reduce high debt levels. The Philippines received several credit rating upgrades on its sovereign debt in 2012, and has had little difficulty tapping domestic and international markets to finance its deficits. Achieving a higher growth path nevertheless remains a pressing challenge. Economic growth in the Philippines averaged 4.5% during the MACAPAGAL-ARROYO administration but poverty worsened during her term. Growth has accelerated under the AQUINO government, but with limited progress thus far in bringing down unemployment, which hovers around 7%, and improving the quality of jobs. Underemployment is nearly 20% and more than 40% of the employed are estimated to be working in the informal sector. The AQUINO administration has been working to boost the budgets for education, health, cash transfers to the poor, and other social spending programs, and is relying on the private sector to help fund major infrastructure projects under its Public-Private Partnership program. Long term challenges include reforming governance and the judicial system, building infrastructure, improving regulatory predictability, and the ease of doing business, attracting higher levels of local and foreign investments. The Philippine Constitution and the other laws continue to restrict foreign ownership in important activities/sectors (such as land ownership and public utilities).
Source
: CIA
Company: HANSEI CORPORATION
Address: Unit 303 Victoria Tower C
# 79 Panay
cor. Timog Avenues, Quezon City
Country: Philippines
We conducted
research and investigation on HANSEI CORPORATION, and showed the following,
viz:
VERIFICATION WITH SECURITIES & EXCHANGE COMMISSION (SEC): HANSEI CORPORATION(Formerly Hansei Trading Co. Inc., as amended on May 1993 & June 23, 1997)
REGISTRATION
–
a) Certificate No. :
0000163515
b) Date : May 16, 1989
c) Term : Fifty (50) years
Address
: 3rd/F Room
303 Trans Orient Maritime Bldg., 66 Timog Avenue
Quezon
City
CAPITALIZATION -
- Authorized
Capital Stock (Original) -
P1,000,000.
- Amount
Subscribed
- P 250,000.
- Amount
Paid Up -
P 62,500.
-
Par
value per share
- P 10.
(Note: Original ACS, increased to P20.0Million on June 23, 1997)
PRIMARY PURPOSE:
To engage in,
conduct and carry on the business of buying, selling, distributing, marketing
at wholesale & retail, in so far as permitted by law all kinds of goods, commodities, wares and
machineries, etc.
ORIGINAL INCORPORATORS -
Alfredo O. De
Ocampo Ramon A. Castañeda
Luis U. Parada Lazaro B. Isidro, Jr.
Leonardo A. Parada Florentino A. Sonorias
Lalaine P. Castro
|
Incorporators/Stockholders
/ Nationality |
Position |
Residential
Address |
Amount Subscription Paid |
|
RODOLFO M. NUYDA
/ Filipino |
President |
# 56 B Xavier
Townhomes, Sct. Tuazon, Laging Handa, Quezon City |
P3,150,500 |
|
ALFREDO S.
MANGAHAS/ Filipino |
Chairman |
# 31 Agno St.,
NIA Village, Tandang Sora, Quezon City |
P2,534,150 |
|
|
Treasurer |
L4A B21 Calaca St., NAPOCOR Village, Tandang
Sora, Quezon City |
P 451,879 |
|
ALFREDO O. DE
OCAMPO/ Filipino |
Director |
# 73 Scarlet
Homes, Moonwalk, Paranaque City |
P 633,560 |
|
OSWALD L. SAPANG
/ Filipino |
Director |
# 106 Magsaysay
St., 6th Avenue, Grace Park, Caloocan City |
P1,129,400 |
|
TOMAS F.
TAGUINOD/ Filipino |
Director |
Araneta Avenue,
Quezon City |
P 716,860 |
|
IRENEO M. NUYDA,
JR./ Filipino |
Director |
# 1 Gold Street,
SSS Village, Marikina City |
P 267,390 |
|
NEMESIO S.
ISIDRO (Deceased) |
|
|
P 542,500 |
|
JIMMY P.
ALIMBOYOGUEN/ Filipino |
Director |
# 99 Galang
Highway, San Ildefonso, Bulacan |
P 442,580 |
|
|
|
|
P 9,869,890 |
Trading, local and Indent orders of
engineering equipment, materials and structural work.
Products:
A.
Electric Transmission Lines
1.
Lattice
Steel Towers
2.
Steel
Pole
3.
Power
Conductors
4.
Insulators
5.
Line
Harness and Fittings
6.
Optic Fiberground
wire and accessories
B. Switching Stations and Sub-Stations
1.
‘Power
Transformer
2.
Power
Circuit Breakers
3.
Dissonant
Switches
4.
Lightning
Arresters
5.
Instrument
Transformers
6.
Protection
Equipment & Relays
7.
Micro
Processor based systems control
8.
Switch boards
and Switch gears.
Unit 303 Victoria
Tower C, 79 Panay cor. Timog Avenues, Diliman, Quezon City
Victoria Tower C is an eighteen (18) floors, high rise
residential/commercial building, equipped with passenger elevators, parking
areas, back-up generator sets, and properly maintained. Unit 303 has “Hansei
Corp.” signage attached on its main door, glass panel. The edifice is secured
by Private Security Agency on 24/7 round
the clock schedule.
Website: www.hanseicorp.com
Email Address:
hanseicorporation@yahoo.com
Telephone nos. (632) 332 1686/
(632) 332 1649
Fax No.: (632) 332 1714
(Audited Financial Statement for years
2011, 2010, & 2009, as compiled)
Balance Sheet Statement
|
|
2011 (PHP) |
2010 (PHP) |
2009 (PHP) |
|
Assets |
|
|
|
|
Current Assets |
|
|
|
|
Cash & Cash equivalents |
1,250.607 |
1,490,542 |
3,665,540 |
|
Trade & Other Receivables |
16,219,052 |
30,506,641 |
12,477,088 |
|
Inventory |
505,162 |
505,162 |
3,786,820 |
|
Other Current Assets |
207,258 |
203,944 |
4,199,085 |
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Total Current Assets |
18,182,079 |
32,706,289 |
24,048,534 |
|
Non-Current Assets |
|
|
|
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Property & Equipment, net |
7,591,781 |
7,029,787 |
7,483,208 |
|
TOTAL ASSETS |
25,773,860 |
39,736,077 |
31,531,741 |
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Liabilities & Stockholder’s Equity |
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|
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Current Liabilities |
|
|
|
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Trade & other Payables |
641,332 |
13.168,026 |
8,023,070 |
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Other Current Liabilities |
97,266 |
298,456 |
NIL |
|
Total Current Liabilities |
738,598 |
13,466,482 |
8,023,070 |
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|
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Non Current Liabilities |
|
3,400,054 |
3,400,054 |
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TOTAL LIABILITIES |
738,598 |
16,866,536 |
11,423,124 |
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Stockholder’s Equity |
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Paid Up Capital |
9,869,890 |
9,869,890 |
9,869,890 |
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Retained Earnings |
15,165,372 |
12,999,651 |
10,238,727 |
|
TOTAL STOCKHOLDER’S EQUITY |
25,035,376 |
22,869,541 |
20,108,617 |
|
TOTAL LIABILITIES &
STOCKHOLDERS EQUITY |
25,773,860 |
39,736,077 |
31,531,741 |
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Income Statement |
|
|
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Gross Receipts |
68,629,317 |
70,313,564 |
52,908,304 |
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Cost of Sales |
54,825,877 |
56,980,909 |
35,977,647 |
|
Gross Profit |
13,803,441 |
13,332,655 |
16,930,657 |
|
General
& Admin. Expenses |
9,862,285 |
9,388,479 |
13,906,020 |
|
Provision for Income Tax |
1,182,347 |
1,183,253 |
927,473 |
|
Net Profit |
2,758,809 |
2,760,923 |
2,097,163 |
ECI
DATABASE: Negative
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
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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 |
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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 |
|
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 |
|
<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.