|
Report Date : |
22.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SINOWAY INTERNATIONAL HOLDINGS LTD. |
|
|
|
|
Registered Office : |
c/o Jumpstart Business Centre Room 1501-8, 15/F., |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
15.01.2001 |
|
|
|
|
Com. Reg. No.: |
31636044 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of Carbon, petroleum
coke, fertilizer, sulphur, coal |
|
|
|
|
No. of Employees : |
04 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
SINOWAY INTERNATIONAL
HOLDINGS LTD.
ADDRESS: c/o Jumpstart Business Centre
Room 1501-8, 15/F., Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2736 3936
FAX: 852-2736 2899
E-MAIL: service@sinowaypetro.com
Managing Director: Mr. Liu Tao
Incorporated on: 15th January, 2001.
Organization: Private Limited Company.
Capital: Nominal:HK$100,000,000.00
Issued: HK$100,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 4. (Including associates)
Main Dealing Banker: ING Bank N.V., Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head
Office:-
c/o Jumpstart Business Centre
Room 1501-8, 15/F., Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong.
China & Overseas
Offices:-
Beijing:
Suite 1505, Building A, Nanxincang Business Tower, 22 Dongsishitiao, Dongcheng District, 100007 Beijing, China.
[Tel: (86-10) 8405 7598; Fax: (86-10) 6505 8550]
Nanjing:
Suite D701, 98 Longpan road, .210042 Nanjing City, Jiangsu Province, China.
[Tel: (86-25) 51860438; (86-25) 85420732
Fax: (86-25) 51860436]
Canada:
190 Wildwood Trail, Mississauga, Ontario, Canada L4Z 3V3
[Tel: (905) 568-3928 Fax: (905) 568-8932]
United States
Tel:001- 4083684800
Associated
Companies:-
Sinoway Carbon Co. Ltd., China.
Sinoway Carbon Energy Holdings Ltd., Hong Kong.
Sinoway International Management Ltd., Hong Kong.
31636044
0744435
Managing Director: Mr. Liu Tao
Contact Person: Mr. Alan Chui
Nominal Share Capital: HK$100,000,000.00 (Divided into 100,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$100,000,000.00
SHAREHOLDER: (As per registry dated 15-01-2014)
|
Name |
|
No. of shares |
|
LIU Tao |
|
100,000,000 ========= |
DIRECTOR: (As per registry dated 05-08-2014)
|
Name (Nationality) |
Address |
|
LIU Tao |
32A, Image Base Beijing, No. 3 Guangqu Road, Chaoyang District, Beijing 100124, Chiina. |
SECRETARY: (As per registry dated 15-01-2014)
|
Name |
Address |
Co. No. |
|
YSB (Secretaries) Ltd. |
Units B & C, 16/F., Eton Building, 288 Des Voeux Road Central, Hong Kong. |
0108564 |
The subject was incorporated on 15th January, 2001 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit 1402-1403, 14/F., Lippo Sun Plaza, 28 Canton Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in April 2014.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Carbon, petroleum coke, fertilizer, sulphur, coal
Employees: 4. (Including associates)
Commodities Imported: India, other Asian countries
Markets: China, other Asian countries, Europe, North America.
Terms/Sales: CAD, L/C, T/T.
Terms/Buying: L/C, Advanced T/T
Nominal Share Capital: HK$100,000,000.00 (Divided into 100,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$100,000,000.00
Mortgage or Charge (since August 2010): (See attachment)
Indebtedness: HK$17,528,690.00 total amount outstanding on all mortgages and charges as per last Annual Return dated 15-01-2014)
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:-
ING Bank N.V., Hong Kong Branch.
RB International Finance (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having issued 100 million ordinary shares of HK$1.00 each, Sinoway International Holdings Ltd. is wholly owned by Mr. Liu Tao who is a China merchant. He is a China passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject. Currently Liu Tao is residing in Beijing, China.
The subject is in a business centre known as Jumpstart Business Centre located at Room 1501-8, 15/F., Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong. The subject has rented a small office in the business centre.
The subject has had China offices in Beijing and Nanjing, Jiangsu Province, China. Its overseas offices are in Canada and the United States.
The subject has been developing business relationship with worldwide partners and has become one of leading suppliers on petroleum coke and calcined petroleum coke. Besides, the subject is also trading in other products including Fertilizer, Sulphur, and Coal.
Concerning petroleum coke, the subject acts as one of the major traders dealing in Chinese sources petroleum coke for export into the Middle East, East Asia and North America. Meanwhile, it is importing anode graded and fuel graded petroleum coke to China and third countries.
Concerning calcined petroleum coke, it is a king of main raw material of anode for smelter industry. The subject has supplied the major western aluminium smelters with this type of product. In the early 2010, the subject set up a calciner with 560 kt/a capacity in Shandong Province, China. The first phase, with a 280 kt/a capacity, was completed in the first quarter of 2013.
The subject imported the first shipment of High Sulfur Petcoke and supplied to Chinese market in the second half of 2001. In 2002 and 2003, it supplied around 250,000 MT petroleum coke to Chinese market. Now it is acting as the leading supplier to supply Chinese petroleum coke to worldwide customers and US petroleum coke to China and third countries.
The subject is engaged in the fertilizer business in both China and the main international markets.
Sulphur is converted into sulphuric acid and consumed for a number of chemical and industrial applications. These applications include the leaching of ores, the production of agricultural chemicals, the production of plastics and synthetic rubber, the processing of pulp and paper, and the production of general chemicals.
The subject also trades in bituminous coal and coking coal and the related products.
Besides, the subject has been engaged in importing and exporting varies kinds of oils and bulk chemicals, like aromatics, olefins, etc. from China and wholesale of base oil in China for more than 10 years.
In United Arab Emirates, a company known as Dubai Aluminium [DUBAL] - the entirely state-owned enterprise whose Jebel Ali operation ranks as the world’s largest single-site primary aluminium smelter using pre-bake anode technology - has expanded its interests in the raw materials sector by purchasing a 20% stake in a calciner development project as part of a joint venture with Sinoway Carbon Energy Holdings, Hong Kong, for an undisclosed sum. The new venture, known as Sinoway Carbon Company Limited [SCCL], entails the construction of a 560,000 tonnes per annum calciner in Shandong Province, China.
The end-product of the calcination process, calcined petroleum coke [CPC], is a strategic raw material for the aluminium smelting industry, where it is used in the manufacture of carbon anodes for the electrolytic process of extracting the metal from its ore. DUBAL will be entitled to an annual off-take volume of CPC for its smelting operations
The SCCL calciner is being built in two equal phases (i.e. 280,000 tonnes per phase). Construction of the first phase was completed in May 2013 while Phase two was completed in the fourth quarter of 2013. The plant employs Chinese shaft technology - a well-proven, simple-to-install, easy-to-operate system that gives better yield than other technologies at substantially lower capital- and operating expense. China has a surplus supply of green petroleum coke [GPC], a by-product of oil refining and the raw material consumed by a calciner. Indeed, China currently produces more than 40 per cent of annual global GPC/CPC production, with several GPC refineries being in close proximity to SCCL.
The subject has had the following two associated companies located at the same address:-
Sinoway Carbon Energy Holdings Ltd. [SCE]
Sinoway International Management Ltd. [SIM]
Mr Alan Chui is the Chief Operating Officer of the subject and Executive Director of SCE which is a leading player in the Chinese petroleum coke business. Chui has over 25 years of senior management and entrepreneurial experience in trading, manufacturing, banking, venture capital, FMCG, e‑Commerce and IT industries in Hong Kong, Toronto, Shanghai, Beijing and Singapore. For the past few years, he has devoted his time and effort to his Alma Mater serving as the President of the HK PolyU MBA Alumni Association and Board Member of the Federation of the Hong Kong Polytechnic University Alumni Association for two consecutive terms. Chui also sits on the committee of the School-Company-Parent Program initiated by the Young Entrepreneurs Development Council in 2003 in Hong Kong.
Chui holds an MBA with distinction from the Hong Kong Polytechnic University, completed the Private Equity and Venture Capital Executive Training by Harvard Business School and is a fellow member of the Hong Kong Institute of Directors.
The business of the subject is active. It made good profits in the some of the past years.
As the history of the subject is over thirteen years and eleven months in Hong Kong, on the whole, consider it good for normal business engagements.
(Since August 2010)
|
Date |
Particulars |
Amount |
|
30-07-2010 |
Instrument: First Party Charge Over Cash Deposits Property: All amounts deposited and all other moneys from time to time standing to credit of or earned on any current, deposit or other account held by the company with the Raiffeisen Zentralbank Oessterreich AG in Beijing or elsewhere, including, without limitation, all moneys in the accounts together with all amounts of interest accruing or accrued thereon Mortgagee: RZB Austria Finance (Hong Kong) Ltd. [Now known as RB International Finance (Hong Kong) Ltd.] |
All moneys & liabilities whatsoever which now are or at any time hereafter may be due, owing or payable, in any currency, to the RZB Austria Finance (Hong Kong) Ltd. by the company |
|
08-11-2010 |
Instrument: Letter of Pledge Property: A pledge upon all negotiable instruments and upon all produce and goods and all bills of lading, warrants, delivery orders, wharfingers or other warehouse keepers certificates or receipts and upon all documents of title whatsoever and the produce and goods to which the same relate Mortgagee: ING Bank N.V., Hong Kong Branch. |
All monies |
|
01-12-2011 |
Instrument: Deed of Charge and Assignment of Receivables Property: The Assignor executes and delivers this Deed in favour of the Assignees 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.07 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.77.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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.