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Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
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Name : |
ASIA MINERALS
LTD. |
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Formerly Known as: |
Stanley Development Ltd., |
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Registered Office : |
7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.12.1992 |
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Com. Reg. No.: |
16667234 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of mineral ore. |
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No. of Employees : |
15 |
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 June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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'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 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the 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 28 million in 2011, 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 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% 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. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. 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.
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Source : CIA |
ASIA MINERALS LTD.
7/F., Luk Kwok Centre, 72
Gloucester Road, Wanchai, Hong Kong.
PHONE: 2856 3350, 2586 3321, 2586 3333
FAX: 2827 6552, 2511 2481
E-MAIL: h.suzuki@smart-alloy.com
Managing Director: Mr. Hirotaka Suzuki
Incorporated on: 23rd December, 1992.
Organization: Private Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$3,038,127.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 15.
Main Dealing Banker: Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai,
Hong Kong.
Holding Company:-
Sharprofit
Trading Ltd., Hong Kong.
Associated
Companies:-
AML China Ltd., China.
AML Europe SAS,
France.
AML Korea Ltd., Korea.
Asia Minerals India Private Ltd., India.
Asia Minerals Investment Ltd., Hong Kong. (Same address)
Asia Minerals Japan Ltd., Japan.
Asia Minerals
North America LLC, USA.
Asia Minerals
South Africa (Pty) Ltd., South Africa.
Asia Minerals Zambia Ltd., Zambia.
IMA Resource Ltd., China.
Jinzhou AML Resources Co.
Ltd., China.
Mountainous Ltd., Hong Kong.
Pertama
Ferroalloys Sdn. Bhd.,
Malaysia.
Sichuan Chuantou Emei Ferroalloy (Group)
Co. Ltd., China.
etc.
16667234
0395821
Managing Director: Mr. Hirotaka Suzuki
Nominal Share Capital: HK$5,000,000.00 (Divided into
5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$3,038,127.00
(As per registry dated 23-12-2011)
|
Name |
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No.
of shares |
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Sichuan Chuantou Emei Ferroalloy
(Group) Co. Ltd. Emeishan City, 614222 Sichuan, China. |
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175,000 |
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Mountainous
Ltd., Hong Kong. |
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607,600 |
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Sharprofit Trading Ltd., Hong Kong. |
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2,255,527 |
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Total: |
3,038,127 ======= |
(As per registry dated 23-12-2011)
|
Name (Nationality) |
Address |
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Hirotaka SUZUKI |
7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai,
Hong Kong. |
|
Setsuo SUZUKI |
7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai,
Hong Kong. |
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JIANG Jian Tao |
7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai,
Hong Kong. |
(As per registry dated 23-12-2011)
|
Name |
Address |
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CHEUNG Yuen Bing, Belinda |
7/F., Luk Kwok
Centre, 72 Gloucester Road, Wanchai, Hong Kong. |
The subject was incorporated on 23rd
December, 1992 as a private limited liability company under the Hong Kong
Companies Ordinance.
Originally the subject was
registered under the name of Stanley Development Ltd., name changed to the
present style on 29th
June, 1993.
Apart from these, neither material
change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of mineral ore.
Employees: 15.
Commodities Imported: China, Korea, Ukraine, South Africa, Australia, etc.
Markets: China, Japan, Korea, North America, Taiwan, Western Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, or as per contracted.
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$3,038,127.00
Mortgage or Charge
(Since 2011): (See
attachment)
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.
Bankers:-
Standard Chartered Bank (Hong Kong) Ltd.,
Hong Kong.
Indover Asia Ltd., Hong Kong.
BNP Paribas,
Hong Kong Branch.
Standing: Good.
Having issued 3,038,127
ordinary shares of HK$1.00 each, Asia Minerals Ltd. is a joint venture between
the following three firms:-
Sichuan
Chuantou Emei Ferroalloy
(Group) Co. Ltd., China
5.76%
Mountainous
Ltd., Hong Kong
.
20.00%
Sharprofit
Trading Ltd., Hong Kong
74.24%
The subject commenced
business in 1993. It is specialized in
all manganese related business from ores to alloys, metals and chemicals. It
is committed to provide services to its clients through its global
organizations in Asia, Africa, Europe, CIS and the United States.
The subject acquired its
first ferro-alloy smelting plant in Inner Mongolia in
2005 and acquired its second smelting plant in Liaoning
Province in 2009.
The subject intends to
become a 20% supplier of manganese to the worlds demand in 2020 through
developing a manganese mine in Kalahari in South Africa and constructing a greenfield plant of manganese
group ferroalloys in Sarawak in Malaysia.
The subject has had the
following two projects:-
·
Kudumane Manganese Mine
Project, South Africa
The mine is located in Kalahari, Northern Cape
Province, South Africa. Commercial scale
production is to commence sometime during the fourth quarter (October to
December) 2012. Estimated ore reserves
are 200 million tons. Products will be,
approximately 2 million per year of Grade A ore
assaying Mn: 37% to 38%, F4e: 4.5%, P: 0.02% and
approximately 0.9 million tonnes per year Grade B ore
assaying Mn: 42%, Fe: 7%, P: 0.03%.
·
Sarawak Manganese Group Ferroalloys Plant, Malaysia
Land preparation work commenced early 2011 at Samalaju
Industrial Estate, Sarawak State, where the subject has been allocated 180
hectare for the plant construction. So
far preparation of 80 hectare has been completed. Construction of the ferroalloy plant is to
commence in April 2012, with scheduled start up in the Q3 (July to September)
2013 to reach a full production stage of 330,000 tons per year by the end of
2014.
The subject keeps a strong
relationship with almost large steel producers worldwide and supplies Manganese
Alloys to those consumers, some of which are listed below:
·
Japan: Nippon Steel Corporation,
JFE Steel Corporation, Kobe Steel Ltd., Mitsubishi Steel Mfg Co. Ltd.
·
Korea: Hyundai Steel Company, Dongkuk Steel Mill Co. Ltd., YK Steel Corporation, Korea
Iron & Steel Co. Ltd., Seah Besteel
Corporation, Daehan Steel Co., Ltd.
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China: Bao
Steel, Angang Steel, Baotou
Steel
·
USA: Allegheny Ludlum Corporation,
SSAB Alabama Inc., SSAB Iowa Inc., United States Steel Corporation, Steel
Dynamics, Inc.
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EU: ArcelorMittal,
ThyssenKrupp Nirosta GmbH, Compania Espanola de Laminacion,
S.L.
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CIS: Novolipetsk
Steel (NLMK)
·
ME: Saudi Iron and Steel Company, Societe Nationale de Siderurgie S.A., Eregli Iron and
Steel Works Company
The subject is fully
supported by its China shareholder Sichuan Chuantou Emei Ferroalloy (Group) Co. Ltd. which is a rather
significant firm in China.
As the history of the
subject is over twenty years in Hong Kong, on the whole, consider it good
for normal business engagements.
(Since 2011)
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Date |
Particulars |
Amount |
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04-03-2011 |
Instrument: Security
Agreement over Bank Account Property: By way of a first fixed charge all of the Chargors
rights in respect of any amount standing to the credit of the Account 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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08-05-2012 |
Instrument: Deed of Charge and Assignment of
Receivables Property: The Assignor
executes and delivers this Deed in favour of the
Assignee as security for the payment of the Secured Amounts and the
performance and discharge of all undertakings, covenants, terms and
conditions on the part of the Assignor under or in connection with the
Facilities or this Deed. Mortgagee: ING Bank N.V., Hong Kong Branch. |
All monies |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.21 |
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UK Pound |
1 |
Rs.101.05 |
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Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.