|
Report Date : |
08.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
TERRATEC LTD. |
|
|
|
|
Registered Office : |
Room 407, 4/F., Empire Centre, 68 Mody Road, Tsimshatsui, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
19.12.2008 |
|
|
|
|
Com. Reg. No.: |
50128365 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is a designer and manufacturer of Tunnel Boring Machines [TMB], Raise Boring Machines [RBM] and other custom-made products for tunnelling and mining applications. |
|
|
|
|
No. of Employees |
02 |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
TERRATEC LTD.
ADDRESS: Room
407, 4/F., Empire Centre, 68 Mody Road, Tsimshatsui,
PHONE: 852-3169 3660
FAX: 852-3169 3661
E-MAIL: info@terratec.com.hk
Managing Director: Mr. Juan Parreno Fernandez
Incorporated on: 19th December, 2008.
Organization: Private Limited Company.
Capital: Nominal:HK$200,000.00
Issued: HK$200,000.00
Business Category: Machine Trader.
Employees: 2.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd.,
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 407, 4/F., Empire Centre, 68 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
Holding Company:-
Terratec Group Inc., Cayman Island.
Associated
Companies:-
Terratec (India) Pvt. Ltd., India.
Terratec America Inc., Panama.
Terratec Asia Pacific Pty. Ltd., Australia.
50128365
1295661
Managing Director: Mr. Juan Parreno Fernandez
Contact Person: Ms. Vicky Wong
Nominal Share Capital: HK$200,000.00 (Divided into 200,000 shares of HK$1.00 each)
Issued Share Capital: HK$200,000.00
(As per registry
dated 19-12-2013)
|
Name |
|
No. of shares |
|
Terratec Group Inc. Scotia Centre, 4/F., P.O. Box 2804, George Town, Grand Cayman KY1-1112, Cayman Island. |
|
200,000 ====== |
(As per registry
dated 19-12-2013)
|
Name (Nationality) |
Address |
|
Juan PARRENO FERNANDEZ |
Apartment #C1003, 8 Hung Luen Road, Hung Hom Bay, Kowloon, Hong Kong. |
(As per registry
dated 19-12-2013)
|
Name |
Address |
|
LAU Pui Yee |
Room 407, 4/F., Empire Centre, 68 Mody Road, Tsimshatsui, Kowloon, Hong Kong. |
The subject was incorporated on 19th December, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Tunnelling Equipment Ltd., name changed to the present style on 18th February, 2009.
Formerly the subject was located at 22/F., 6 Knutsford Terrace, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in June, 2012.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Machine Trader.
Lines: Tunnel Boring Machines, Raise Boring Machines and other custom-made products for tunnelling and mining applications.
Employees: 2.
Commodities Imported: Australia, etc.
Markets: Africa, Australasia, Central & South America, China, Eastern Europe, Hong Kong, Japan, South Korea, Middle East, North America, Scandinavia, Southeast Asia, Taiwan, Western Europe, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$200,000.00 (Divided into 200,000 shares of HK$1.00 each)
Issued Share Capital: HK$200,000.00
Indebtedness: US$1,880,000.00 (Total amount outstanding on all mortgages and charges as per last Annual Return dated 19-12-2013)
Mortgage or Charge:-
Date of Deposit Deed: 11-12-2009
Amount: All moneys now or at any time in the future owing by the company
Property: By way of a first fixed charge & as a continuing security for the Obligations, the Company charges and assigns absolutely all its rights, title to and interest in the Accounts & all Deposits from time to time in the Accounts and comprising the Accounts maintained with the Bank
Mortgagee: Citibank N.A., Hong Kong Branch.
Profit or Loss: Made small profits in past three years.
Condition: Keeping in a normal manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Citibank N.A., Hong Kong Branch.
Standing: Small.
Having issued 200,000 ordinary shares of HK$1.00 each, Terratec Ltd. is wholly owned by Terratec Group Inc. which is a Cayman Island-registered firm. The only director of the subject Juan Parreno Fernandez is a Hong Kong ID holder and has got the right to reside in Hong Kong permanently.
The subject in fact is an associated company of Terratec Asia Pacific Pty. Ltd. [TAPP] which is an Australia-based firm. Including the subject, TAPP and its associated companies form the Terratec Group [Terratec/Group].
The subject is the regional office for the China and Southeast Asian markets.
Incorporated in 1990, Terratec is the world-renowned Australian designer and manufacturer of Tunnel Boring Machines [TMB], Raise Boring Machines [RBM] and other custom-made products for tunnelling and mining applications.
Terratec’s main products are TBM, RBM, Conveyor Systems, and the others related equipment. It also offers customers with after-sales services such as repairing and maintenance services.
Terratec has had an experienced engineering team. The team includes engineers with over 40 years experience in the design and manufacture of tunnelling and mining machines who have also worked on some of the world’s largest underground projects.
Terratec’s products have been claimed to be well-known in the industry as “Robust, Durable and Safe”, basic principles which must prevail in the conception of any equipment made to work in the extreme conditions encountered underground. As a provider of Total Tunnelling Solutions, Terratec’s scope of work extends to include operation and maintenance of boring equipment during the execution of works as well as supply of ancillary equipment.
Today, Terratec is well placed to meet the growing global market. Now, Terratec has set up associated companies in the United States and India in order to penetrate the international market further. The India company is in Bhikaji Cama Place, New Delhi, India. Besides, Terratec has set up associate companies in Africa, the United Arab Emirates and Panama.
In December 2012, first of eight TBMS for Delhi Metro were sold by Terratec. Terratec sold the machines to Delhi Metro after a record seven months from receipt of order. The Tunnel Boring Machine is a Ø6.61m EPB Shield.
In February 2013, Terratec launches its new Universal Boxhole Borer [UBB]. The Universal Boxhole Boring Machine - UB1000, is designed to boxhole sections up to 1.06 m diameter x 100 m long and it can also ream conventional raises nominally 1.8 m diameter x 200 m dee. UBB is a kind of new product which needs time to penetrate the international market.
The subject’s business in Hong Kong is chiefly handled by Juan Parreno Fernandez. The contact person Ms. Vicky Wong is the personal assistant of Juan Parreno Fernandez. She is a Hongkongnese.
The main business territories of the subject are Hong Kong, China, Southeast Asia, etc. It also exports the machinery & equipment to the Middle East, North America, Europe, Scandinavia, etc.
However, the subject is trying to penetrate the China market further in the years ahead.
As the history of the subject is just over five years in Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.