|
Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRINTERS PLANET LTD. |
|
|
|
|
Registered Office : |
Flat F, 9/F., Sunview Industrial Building, 3 On Yip Street, Chai Wan |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
01.03.2004 |
|
|
|
|
Com. Reg. No.: |
34338433 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
LINE OF BUSINESS : |
PRINTING
EQUIPMENT AND PRODUCT TRADER OF ALL KINDS OF PRINTING CONSUMABLES. |
|
|
|
|
No of Employees : |
12 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
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 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 |
PRINTERS PLANET
LTD.
ADDRESS: Flat F, 9/F., Sunview
Industrial Building, 3 On Yip Street, Chai Wan, Hong Kong.
PHONE: 852-2505 9061
FAX: 852-2505 9051
Managing Director: Mr. Steen
Christian Andersen
Incorporated on: 1st March, 2004.
Organization: Private Limited
Company.
Issued Share Capital: HK$1,000,000.00
Business Category: Printing equipment
and product trader.
Employees: 12.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
PRINTERS PLANET
LTD.
Registered Head
Office:-
Flat F, 9/F., Sunview Industrial Building, 3 On Yip Street, Chai Wan,
Hong Kong.
Holding Company:-
Azura Ventures Ltd., Samoa.
Associated
Companies:-
Hydro Printing Material (Zhongshan) Co. Ltd.
Panzhong Road Section, Torch High-Tech Industrial Development Zone,
Zhongshan City, Guangdong Province, China.
[Telephone: 0760-88299080,
88299081, 88299082
Fax: 0760-8829902
E-mail: fiona88@yahoo.cn]
Printers Plant (Hong Kong) Ltd., Hong Kong. (Same address)
34338433
0885693
Managing Director: Mr. Steen
Christian Andersen
Contact Person: Ms. Leoniza S De
Ramos
HK$1,000,000.00
(As per registry dated 01-03-2014)
|
Name |
Occupation |
No. of shares |
|
Azura Ventures Ltd. Offshore Chambers, P.O. Box 217, Apia, Samoa. |
Corporation |
1,000,000 ======= |
(As per registry dated 01-03-2014)
|
Name (Nationality) |
Address |
|
Steen Christian ANDERSEN |
53 Tai Wo Village, Taipo, New Territories, Hong Kong. |
(As per registry dated 01-03-2014)
|
Name |
Address |
Co. No. |
|
Polar Universal (Secretarial) Ltd. |
Room 701B, 7/F., Nan Dao Commercial Building, 359-361 Queen’s Road
Central, Hong Kong. |
0506545 |
The subject was incorporated on 1st March, 2004 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Printing
equipment and product trader.
Lines: All kinds of
printing consumables.
Trade Mark: Master Products.
Employees: 12.
Commodities Imported: China.
Markets: Hong Kong, China, other
Asian countries, Europe.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, O/A.
Issued Share Capital: HK$1,000,000.00
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.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Printers Plant Ltd. is a wholly-owned subsidiary of Azura Ventures Ltd.
which is a Samoa-registered company.
The subject is chiefly owned and operated by Mr. Steen Christian
Andersen. He is also managing director
of the subject. He has been in Hong Kong
for a very long time.
The subject has had an associated company Printers Plant (Hong Kong)
Ltd., a Hong Kong-registered company located at the same address.
The subject is a printing consumable trader. It has had an associated factory in China
known as Hydro Printing Material (Zhongshan) Co. Ltd. [Hydro].
Hydro manufactures a complete range of pressroom chemicals under the
internationally recognized brand name “MASTER PRODUCTS”. Its products include fountain solutions,
spray powder, plate cleaners, gum and washes a.o..
Hydro is owned by the subject which has its head office in Hong Kong and
has distributors in over 60 countries worldwide.
Hydro also manufactures cutting sticks, ink duct foils, wash-up blades,
cylinder jackets, filters and many other press-accessories. Products are marketed and exported to the
following markets: Africa, Australasia, Central & South America, China,
Eastern Europe, Hong Kong, Japan, South Korea, the Middle East, North America,
Other Asian Countries, Scandinavia, Southeast Asia, Taiwan, Western Europe.
According to the subject, it has been under rapid expansion. Overall business is active and good.
The contact person of the subject is Ms. Leoniza S De Ramos.
As the history of the subject is over ten years and eight months in
Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
|
1 |
Rs.97.69 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.