|
Report Date : |
03.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAH BANG PRINTING INK MANUFACTORY LTD. |
|
|
|
|
Registered Office : |
Room B, 12/F., Edwick Industrial Centre, 4-30 Lei Muk
Road, Kwai Chung, New Territories |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
12.04.1963 |
|
|
|
|
Com. Reg. No.: |
01423231 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter, Distributor, Retailer and Manufacturer
of Printing ink, printing machineries, printing equipment and printing
supplies. |
|
|
|
|
No. of Employees |
1,249 |
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 |
|
Maximum Credit Limits : |
US$250,000 |
|
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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 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 |
DAH BANG PRINTING INK
MANUFACTORY LTD.
ADDRESS: Room B, 12/F., Edwick Industrial Centre, 4-30 Lei Muk Road, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2525 9261, 2828 2520
FAX: 852-2810 0137, 2437 9382
E-MAIL: dahbang@dahbang.com
Managing Director: Mr. Ho Wai Yu, Sammy
Establishment: 1938.
Incorporated on: 12th January, 1963.
Organization: Private Limited Company.
Capital: Nominal:HK$10,110,000.00
Issued: HK$10,110,000.00
Business Category: Printing Material Supplier.
Group Revenue: HK$3,070,165,000 (Year ended 31-12-2013)
Group Employees: 1,249. (As at 31-12-2013)
Main Dealing Bankers: Hang Seng Bank Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standard Chartered Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Office:-
Room B, 12/F., Edwick Industrial Centre, 4-30 Lei Muk Road, Kwai Chung, New Territories, Hong Kong.
Subsidiary Company:-
Kunshan Rosathal Printing Ink Ltd., China.
Holding Company:-
First Luck Ltd.
Sea Meadow House, Blackburne Highway, P.O. Box 116, Road Town, Tortola, British Virgin Islands.
Ultimate Holding
Company:-
Golik Holding Ltd., Hong Kong/Bermuda.
ASSOCIATED COMPANIES:-
Golik of the Group Companies
Advance Concord Development Ltd., Hong Kong.
China Rope Holdings Ltd., Hong Kong.
Fulwealth Metal Factory Ltd., Hong Kong.
G.F.T.Z. Golik Metal Trading Co. Ltd., China.
Golik Concrete (HK) Ltd., Hong Kong.
Golik Concrete Ltd., Hong Kong.
Golik Godown Ltd., Hong Kong.
Golik Metal Industrial Company Ltd., Hong Kong.
Golik Metal Manufacturing Co.Ltd., Hong Kong.
Golik Properties Ltd., Hong Kong.
Golik Steel (HK) Ltd., Hong Kong.
Heshan Henderson Steel Wire Products Co. Ltd., China.
Jiangmen Golik Metal Manufacturing Co.Ltd., China.
Orient Smart Industrial Ltd., Hong Kong.
Supreme Enterprises Ltd., Hong Kong.
The Spacers & Bar Chairs Manufacturer Co. Ltd., Hong Kong.
Tianjin Goldsun Wire Rope Ltd., China.
etc.
01423231
0008386
Managing Director: Mr. Ho Wai Yu, Sammy
Nominal Share Capital: HK$10,110,000.00 (Divided into 1,000 Ordinary shares and 1,010,000 Non-voting Deferred shares of HK$10.00 each)
Issued Share Capital: HK$10,110,000.00
SHAREHOLDERS: (As per registry dated 12-01-2014)
|
Name |
|
No. of shares |
|
|
|
|
Ordinary |
Non-voting Deferred |
|
Dah Bang International (Holdings) Ltd. Sea Meadow House, Blackburne Highway, P.O. Box 116, Road Town, Tortola, British Virgin Islands. |
|
--- |
1,010,000 |
|
First Luck Ltd. Sea Meadow House, Blackburne Highway, P.O. Box 116, Road Town, Tortola, British Virgin Islands. |
|
950 |
--- |
|
Ming Kung Wing Andy |
|
50 |
--- |
|
|
|
––––– |
–––––––– |
|
|
Total: |
1,000 ==== |
1,010,000 ======= |
DIRECTORS: (As per registry dated 12-01-2014)
|
Name (Nationality) |
Address |
|
MING Kung Wing, Andy |
3/F., 18 Happy View Terrace, Happy Valley, Hong Kong. |
|
HO Wai Yu, Sammy |
12A, Tower 1, Harbour Green, 8 Shum Mong Road, Kowloon West, Hong Kong. |
|
PANG Tak Chung |
Flat 2802, Block A, Queen’s Garden, 9 Old Peak Road, Hong Kong. |
SECRETARY: (As per registry dated 12-01-2014)
|
Name |
Address |
Co. No. |
|
Golik Nominees Ltd. |
Suite 5608, 56/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. |
0630949 |
The subject was incorporated on 12th January, 1963 as a private limited liability company under the Hong Kong Companies Ordinance to take over the business of Dah Bang Printing Ink Manufactory which was a sole proprietorship concern originally established in 1938.
The subject moved from Rooms 41-42, 4/F., New Henry House, 10 Ice House Street, Central, Hong Kong to 1/F., CNAC Building, 10 Queen’s Road Central, Hong Kong in August 1995, to Room 1101, Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong in 1998. It moved to Room 4-6, 1/F., Fashion Centre, 51‑53 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong in 1999.
The subject moved to the present address in October 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter, Distributor, Retailer and Manufacturer.
Lines: Printing ink, printing machineries, printing equipment and printing supplies.
Distributors for:-
|
Brand |
Product |
Country of Origin |
|
ACTINA |
Charbons |
France |
|
ADANA |
Mini printing machines |
U.K. |
|
BRILIANT |
Electrograph instruments |
Germany |
|
EUROPA |
Pressing machines |
Germany |
|
FILM-KLISCHEE |
Electrograph instruments |
Germany |
|
HAKKO |
Plate-making machines |
Japan |
|
HARADA |
Printing roller |
Japan |
|
ITOH |
Paper cutting machines |
Japan |
|
KOH-I-NOOR |
Screen |
Germany |
|
KOHMANN |
Rotary carton windowing and lining machines |
Germany |
|
KOYOSHA |
Offset printing machines |
Japan |
|
MATSUMOTO KIKAI |
Calender, varnisher and laminator |
Japan |
|
OSAKA |
Fully automatic and compact saddle stitch system with trimmer and stacker |
Japan |
|
PAGRA |
Vertical photo machines |
Germany |
|
PERFO-STRIP |
- |
U.S.A. |
|
PLANETA |
Offset press |
Germany |
|
ROBERTSON |
Photo-mechanix |
U.S.A. |
|
ROSBACK |
Auto-stitcher |
U.S.A. |
|
SAKURAI |
Multi-purpose printing machines |
Japan |
|
SANWA |
Precision box bearing machines |
Japan |
|
SCHMID |
UV additive and curing varnish |
Switzerland |
|
STEINBOCK |
Transport equipment |
Germany |
|
STEINEMANN |
UV printing machines |
Switzerland |
|
SUNNUM |
Number machines |
Germany |
|
TOKYO HOSO |
Box binding machines |
Japan |
|
WEKO |
Powder spraying machines |
Germany |
|
- |
Printing machines |
Albert Export-Grala, Germany |
|
- |
Folding machines |
Lida Maschinenfabrik GmbH, Germany |
|
- |
Printing ink |
Flink Ink Corp., U.S.A. |
|
- |
Printing machines |
KBA-Planeta AG, Germany |
|
- |
Printing machines |
Koebau & Albert AG, Germany |
|
- |
Plate processors |
Plurimetal S.p.A., Italy |
|
- |
Printing ink |
Swadon (London) Ltd., U.K. |
|
- |
Overprinting varnish |
U.S.A. |
|
- |
Printing ink |
Mitsuobshi Printing Ink Co. Ltd., Japan |
|
- |
Ultra violet curing varnish |
Schmid, Rhyner AG, Germany |
|
- |
Paper guillotines |
Itotec Co. Ltd., Japan |
|
- |
Rotary rolling machines and engraved rollers |
Willie Kuhiles OHG, Germany |
|
- |
Process ink |
Megami Ink Manufacturing Co. Ltd., Japan |
|
etc. |
|
|
Group Employees: 1,249. (as at 31-12-2013)
Commodities Imported:-
Printing machines – Germany, Japan, U.K. and Switzerland.
Printing accessories – Germany, Japan and Italy.
Packaging machines – Germany, Japan and Switzerland.
Printing ink – Japan, U.K. and U.S.A.
Varnish – Japan, Switzerland and U.S.A.
Binding machines – U.S.A. and Japan.
Markets: Hong Kong (main), Macau, Singapore, Malaysia, Taiwan and PRC.
Group Revenue: HK$2,826,426,000 (Year ended 31-12-2011)
HK$2,916,502,000 (Year ended 31-12-2012)
HK$3,070,165,000 (Year ended 31-12-2013)
Terms/Sales:-
For local: 30-120 days credit or COD
For abroad: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/A, etc.
Sakurai Machine Trading Co. Ltd., Tokyo, Japan.
Megami Ink Manufacturing Co. Ltd., Tokyo, Japan.
Motoya Co. Ltd., Osaka, Japan.
Yositani & Co. Ltd., Japan.
Kobe Printing Equipment Ltd., Kobe, Japan.
Itotec Co. Ltyd., Japan.
Matsumoto Kikai Manufacturing Co. Ltd., Japan.
Sanwa Manufacturing Co. Ltd., Japan.
Arakawatoryo Co. Ltd., Japan.
Futamura Chemical Industries Co. Ltd., Japan.
Fujikura Rubber Ltd., Japan.
Mitsuboshi Printing Ink Co. Ltd., Japan.
MEMBERSHIP:
The Chinese General Chamber of Commerce, Hong Kong.
The Chinese Manufacturers’ Association of Hong Kong, Hong Kong.
Federation of Hong Kong Industries, Hong Kong.
The Hong Kong Printers Association, Hong Kong.
Nominal Share Capital: HK$10,110,000.00 (Divided into 1,000 Ordinary shares and 1,010,000 Non-voting Deferred shares of HK$10.00 each)
Issued Share Capital: HK$10,110,000.00
Increases of Nominal Capital:-
|
From |
HK$ 1,000,000.00 |
to |
HK$ 5,000,000.00 |
on |
18-09-1974 |
|
From |
HK$ 5,000,000.00 |
to |
HK$10,000,000.00 |
on |
10-05-1978 |
|
From |
HK$10,000,000.00 |
to |
HK$10,001,000.00 |
on |
22-12-1986 |
|
From |
HK$10,001,000.00 |
to |
HK$10,100,000.00 |
on |
28-11-1990 |
|
From |
HK$10,100,000.00 |
to |
HK$10,110,000.00 |
on |
31-07-1993 |
Alternation of Issued Capital:-
|
05-04-1963 |
paid up |
HK$ 500,000.00 |
|
18-06-1963 |
paid up |
HK$ 400,000.00 |
|
18-09-1974 |
paid up |
HK$ 3,100,000.00 |
|
30-12-1978 |
paid up |
HK$ 6,000,000.00 |
|
07-01-1987 |
paid up |
HK$ 1,000.00 |
|
28-11-1990 |
paid up |
HK$ 99,000.00 |
|
30-07-1993 |
paid up |
HK$ 10,000.00 |
|
|
|
–––––––––––––––– |
|
Total: |
paid up |
HK$ 10,110,000.00 ============== |
Group Profit: HK$100,374,000 (Year ended 31-12-2011)
HK$ 84,916,000 (Year ended 31-12-2012)
HK$101,762,000 (Year ended 31-12-2013)
Profit & Loss: Group business is profitable.
Condition: Business is normal.
Facilities: Making active use of general banking facilities.
Payment: Regularly met.
Commercial Morality: Good.
Bankers:-
Hang Seng Bank Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standard Chartered Bank, Hong Kong Branch.
Nanyang Commercial Bank Ltd., Hong Kong.
Bank of America (Asia) Ltd., Hong Kong.
Shanghai Commercial Bank Ltd., Hong Kong.
Barclays Bank PLC, Hong Kong Branch.
Dao Heng Bank Ltd., Hong Kong.
Dah Sing Bank Ltd., Hong Kong.
The Sanwa Bank Ltd., Hong Kong Branch.
Banque Nationale de Paris, Hong Kong Branch.
The Sumitomo Bank Ltd., Hong Kong Branch.
Overseas Union Bank Ltd., Hong Kong Branch.
Deutsche Bank AG, Hong Kong Branch.
Banking:-
One source reports they maintain a very active and well conducted current account with them which was opened on 2nd May, 1963. Partially secured banking facilities granted to them are utilised to their satisfaction. They handled their import bills against L/C.
Standing: Good.
Dah Bang Printing Ink Manufactory Ltd. [Dah Bang Ink], one of the leading printing supplies dealers in Hong Kong, is a 95% subsidiary of First Luck Ltd. [First Luck] which is a BVI-registered company. In turn, First Luck is a wholly-owned subsidiary of Golik Holding Ltd. [Group] which is a listed company in Hong Kong.
In October 1996, Dah Bang was acquired by Golik Holdings Ltd. but spun off from it in 1998.
Dah Bang Ink was established in Shanghai, China by the father of Mr. Chen Da Yun. Business was moved to Hong Kong in 1937 and was re-organized into a private limited company in 1963.
Dah Bang Ink is principally engaged in the marketing and distribution of printing ink in Hong Kong, Macau, Singapore, Taiwan and China. It is believed that the subject has been one of the leading suppliers of these products to the printing and paper products industries in Hong Kong. It is a distributor for products manufactured by a number of leading manufacturers of printing and auxiliary machinery, printing consumables and printing ink, including the KBA Group, Arakawatoryo Co. Ltd., Plurimetal S.p.A. and Megami Ink Manufacturing Co. Ltd.
Now, Dah Bang Ink has set up Kunshan Rosathal Printing Ink Ltd., a joint venture in Kunshan City, Jiangsu Province, China.
The core business of the Group is engaged in manufacturing and sales of metal products and building materials.
For the year ended 31st December, 2013, the Group’s revenue was HK$3,070,165,000, an increase of approximately 5% as compared to previous year which was HK$2,916,502,000.
Group profit for the year was HK$101,762,000 (2012: HK$ 84,916,000).
After the deduction of non-controlling interests, profit attributable to the shareholders of the Company for the year was HK$92,223,000, an increase of approximately 13% compared to the same period of previous year.
However, to our knowledge, the business of Dah Bang Ink in the past three years was just fair.
As at 31st December, 2013, the total number of staff of the Group was 1,249.
Dah Bang Ink is fully supported by the Group.
On the whole, in view of the history and parentage of Dah Bang Ink, consider it good for normal business engagements.
Brief Personal Profile of the Principal Directors:
Mr. Pang Tak Chung, aged 65, has been the Chairman and Managing Director of the Company since 1996. Mr. Pang is the founder of Golik Metal Industrial Company Limited (“Golik Metal”) in 1977 and a director of Golik Investments Ltd., which is wholly owned by Mr. Pang and is a substantial shareholder of the Company. He is responsible for strategic planning, overall management and corporate development of the Group. He has over 38 years experience in the trading and manufacturing industry in Hong Kong and the PRC. He also has extensive experience in international trading practices. In addition, Mr. Pang is a member of the Twelfth and Thirteen Chinese People’s Political Consultative Conference Tianjin Municipal Committee and the Honorary Citizen of both Jiangmen and Heshan, Guangdong Province.
Mr. Ho Wai Yu, Sammy, aged 58, is the Vice Chairman and Company Secretary of the Company and finance director of the Group responsible for finance, accounting, information technology development, legal and corporate matters of the Group. Mr. Ho is a fellow member of Association of Chartered Certified Accountants, an associate member of Hong Kong Institute of Certified Public Accountants, a full member of Chartered Management Institute in the United Kingdom, a full member of Hong Kong Computer Society and a founder and permanent honourable president of IT Accountants Association.
He has over 33 years experience in finance, accounting, computing, investment and project development. Mr. Ho joined Golik Metal in 1994.
Property information of subsidiary:-
Property Location: Workshops 4-6 on 1/F., Fashion Centre, 51-53 Wing Hong Street, Kowloon, Hong Kong.
Owner: West Fame Investment Ltd.
Date of Purchase: 09-10-1991
Purchased Price: HK$10,780,000
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
09-10-1981 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.