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Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
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Name : |
UBM ASIA LTD. |
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Registered Office : |
c/o Moore Stephens Associates Ltd. |
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Country : |
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Date of Incorporation : |
30.03.1984 |
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Com. Reg. No.: |
09008162 |
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Legal Form : |
private limited liability company |
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LINE OF BUSINESS : |
EXHIBITION ORGANISER OF ALL KINDS OF DECORATION MATERIALS |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
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 has no tariffs on imported goods, and it levies
excise duties on only four commodities, whether imported or produced locally:
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, its continued reliance
on foreign trade and investment leaves it vulnerable to renewed global
financial market volatility or a slowdown in the global economy. 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 12% of total system
deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have
caused Hong Kong property prices to rise rapidly; consumer prices increased by
more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from January 2014,
cover services and trade facilitation, and will improve access to the
mainland's service sector for Hong Kong-based companies
|
Source
: CIA |
UBM
ASIA LTD.
ADDRESS: 17/F., China Resources Building, 26
Harbour Road, Wanchai, Hong Kong.
PHONE: 852-2827 6211
FAX: 852-2827 7831, 852-3749 7310
E-MAIL: info-hk@ubm.com
Managing
Director: Mr. Jime Alexander Essink
Incorporated on: 30th March, 1984.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000.00
Issued: HK$70.00
Business Category: Exhibition Organiser.
Group Revenue: £793.9 million (Year ended 31-12-2013)
Employees: 30.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
UBM
ASIA LTD.
ADDRESS:
Registered Office:-
c/o Moore Stephens Associates Ltd.
Suite 905, 9/F., Silvercord, Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
Head Office:-
17/F., China Resources Building, 26 Harbour Road, Wanchai, Hong Kong.
Holding Company:-
UMB Asia Holdings (HK) Ltd., Hong Kong.
Ultimate Holding Company:-
UMB PLC, United Kingdom.
Associated Companies:-
APLF Ltd., Hong Kong.
CNW Group Ltd., Canada.
Cosmoprof Asia Ltd., Hong Kong.
Guzhen Lighting Expo Co. Ltd., China.
PR Newswire Association LLC, USA.
PT. Dyandra UBM International, Indonesia.
PT. UBM Pameran Niaga Indonesia, Indonesia.
Shanghai UBM Showstar Exhibition Co. Ltd., China.
Shanghai UBM Sinoexpo International Exhibition Co. Ltd., China.
UBM Asia (Thailand) Co. Ltd., Thailand.
UBM Asia Exhibitions Ltd., Hong Kong.
UBM Asia Group Ltd., Hong Kong.
UBM Asia Partnership, Hong Kong.
UBM Brasil Holdings Ltda., Brazil.
UBM Canon LLC, USA.
UBM China (Beijing) Co. Ltd., China.
UBM China (Guangzhou) Co. Ltd., China.
UBM China (Hangzhou) Co. Ltd., China.
UBM China (Shanghai) Co. Ltd., China.
UBM China Ltd., Hong Kong.
UBM Exhibitions Philippines Inc., Philippines.
UBM Finance S.a.r.l., Luxembourg.
UBM India Pvt. Ltd., India.
UBM Information Ltd., UK.
UBM Japan Co. Ltd., Japan.
UBM Korea Corporation, Korea.
UBM LLC, USA.
UBM Media (Singapore) Pte. Ltd., Singapore.
UBM Novomania Ltd., Hong Kong.
UBM Rotaforte Uluslararasi Fuarcilik A.S., Turkey.
UBM Sinoexpo Ltd., Hong Kong.
UBM Trust Co. Ltd., China.
UMBG Ltd., UK.
UMBi B.V., Netherlands.
United Business Media (M) Sdn. Bhd., Malaysia.
United Business Media Investments Inc., USA.
United Finance Ltd., UK.
09008162
0134951
Managing
Director: Mr. Jime Alexander Essink
Nominal Share
Capital: HK$1,000.00 (Divided into 100 shares of HK$10.00 each)
Issued Share
Capital: HK$70.00
(As
per registry dated 30-04-2014)
|
Name |
|
No.
of shares |
|
UMB Asia Holdings (HK) Ltd., Hong Kong. |
|
7 = |
(As
per registry dated 30-03-2014)
|
Name (Nationality) |
Address |
|
Jime Alexander
ESSINK |
Flat 3101, 31/F., Convention Plaza
Apartments, |
|
Michael
Roland Anton DUCK |
Room A, 29/F., South Tower 1, Residence
Bel Air, 38 Bel Air Drive, Island South, Pokfulam, Hong Kong. |
(As
per registry dated 30-03-2014)
|
Name |
Address |
Co.
No. |
|
First
Island Secretaries Ltd. |
Suite 905, 9/F., Silvercord, Tower 2, 30 Canton Road,
Tsimshatsui, Kowloon, Hong Kong. |
0049295 |
The
subject was incorporated on 30th March, 1984 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally
the subject was registered under the name of Hong Kong International Trade Fair
Ltd., name changed to Miller Freeman Asia Ltd. on 1st June, 1995; changed
to CMP Asia Ltd. on 20th June, 2001, and further changed to the present style
on 17th March, 2009.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Exhibition Organiser.
Lines: All kinds of decoration materials.
Employees: 30.
Commodities Imported: Europe, Asian countries, etc.
Business Territories/Markets: Europe, Hong Kong, China, other Asian countries, etc.
Group Revenue: £769.4 million (Year ended 31-12-2012)
£793.9 million (Year ended 31-12-2013)
Terms/Sales/Services: As per contracted.
Terms/Buying: Various terms.
MEMBERSHIPS: The
Hong Kong General Chamber of Commerce, Hong Kong.
[Membership No. HKU0170]
Hong Kong Exhibition & Convention Industry Association Ltd., Hong Kong.
Ufi Union des Foires Internationales, Hong Kong.
Nominal Share Capital: HK$1,000.00 (Divided into 100 shares of HK$10.00 each)
Issued Share Capital: HK$70.00
Group Net Profit/(Loss) (£ 47.3 million) (Year ended 31-12-2012)
£117.0 million (Year ended 31-12-2013)
Profit or Loss: Group made a loss in 2012.
Condition: Business is active in Hong Kong.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
UBM
Asia Ltd. is a wholly-owned subsidiary of UMB Asia Holdings (HK) Ltd. which is
a Hong Kong-based and registered company.
The ultimate holding company is UMB PLC [UMB/Group] which is a UK-based
and listed company.
Owned
by UBM listed on the London Stock Exchange, the subject is Asia’s leading exhibition
organiser and the biggest commercial organiser in mainland China, India and
Malaysia. Established with its
headquarters in Hong Kong and subsidiary companies across Asia and in the
United States, the subject has a strong global presence in 24 major cities with
30 offices and 1,300 staff.
With
a track record spanning over 30 years, the subject operates in 20 market
sectors with 230 dynamic face-to-face exhibitions and high-level professional
conferences, 23 targeted trade publications, 20 round-the-clock online products
for over 1,000,000 quality exhibitors, visitors, conference delegates,
advertisers and subscribers from all over the world. It provides clients with a one-stop
diversified global service for high-value business matching, quality market
news and online trading networks.
The
subject has extensive office networks in China, Southeast Asia and India, three
of the world’s fastest growing B2B events markets.
UBM
China has 11 offices in the major cities in mainland China, including Beijing,
Shanghai, Guangzhou, Hangzhou, Guzhen and Shenzhen Special Economic Zone, where
it organises more than 90 exhibitions and conferences. In ASEAN, the subject operates from its
offices in Malaysia, Thailand, Indonesia, Singapore, Vietnam and the Philippines
with over 40 events in this region. UBM
India teams in Mumbai, New Delhi, Bengaluru and Chennai organise 40 exhibitions
and conferences every year across the country.
Continuing
revenues in 2013 were £793.9 million, 3.2% higher than in 2012 (2012: £769.4
million) driven by strong underlying performance of the Events and PR Newswire
segments. Profit for the year was £117.0
million as compared with a loss of £47.3 million in FY2012.
In
2013, the Group had 5,012 employees (2012: 6,666) in 22 (2012: 32) countries.
The
subject is fully supported by UBM.
History in Hong Kong is over 30 years and four months.
On
the whole, consider it good for normal business engagements.
Brief
introduction to the directors:-
Mr.
Jimé ESSINK – President & Chief Executive Officer
Jimé Essink joined the subject as Chief Executive
Officer in November 2007 and was appointed President & Chief Executive
Officer in March 2009. He has more than
20 years’ experience of leading and growing B2B media businesses in emerging and
developed markets throughout Asia and Europe.
Jimé was previously with VNU Exhibitions as CEO of VNU Exhibitions
Europe and President of VNU Exhibitions Asia.
Before joining VNU, he spent seven years as Managing Director of Miller
Freeman Netherlands, UBM Asia’s sister company in Europe. This office was responsible for the very
successful international food ingredients and pharmaceutical ingredients shows
in Europe, Asia, South and North America and other international shows in
Eastern Europe, Scandinavia and the Netherlands. Jimé studied private and
commercial law in Utrecht, the Netherlands.
Mr. Michael DUCK – Executive Vice President
Michael Duck is responsible for the fashion, beauty
and maritime groups and also trade fair activities in India and China. He is also a Director of Shanghai UBM
Sinoexpo International Exhibition Co Ltd, a member of the UBM Asia group of
companies. Michael has worked in the UK,
New Zealand, Italy, Australia, Belgium, Greece and Hong Kong. Prior to joining UBM Asia in 1994, he was
trading director for the Vestey Group based in Hong Kong. He is a member of the Executive Committee and
Treasurer of UFI (The Global Association of the Exhibition Industry – Paris
based); Senior Adviser of the Guangzhou Convention and Exhibition Industry
Association; Honorary President of the Federation of Beauty Industry (H.K.);
member of Executive Committee of the Hong Kong Exhibition and Convention
Industry Association and Asia/Africa and Travel/Tourism Committees of the Hong
Kong General Chamber of Commerce.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.66 |
|
|
1 |
Rs.100.80 |
|
Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
|
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.