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Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
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Name : |
HIP LIK PACKAGING PRODUCTS FACTORY LTD. |
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Registered Office : |
3/F., Oriental Daily News Building, 6 Kwei Chow Street, Tokwawan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
1969 |
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Com. Reg. No.: |
15380702 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Product
Manufactured Transparent PVC/PET packaging products, blister trays, collapsible PVC
boxes, gift packs Service/Sub-contracted
Works Hot stamping - PVC/PET packaging products; offset printing - PVC/PET packaging
products; silk screen printing - PVC/PET packaging products; frosted effect
printing. |
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No. of Employees : |
25 (Hong Kong) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 |
HIP LIK PACKAGING
PRODUCTS FACTORY LTD.
ADDRESS: 3/F., Oriental Daily News Building,
6 Kwei Chow Street, Tokwawan, Kowloon, Hong Kong.
PHONE: 852-2363 3383 (20 lines)
FAX: 852-2764
1906, 2334 0974, 2330 6128
E-MAIL: hiplik@hkstar.com
sales@hiplik.com.hk
Managing Director: Mr. Yeung Yin
Yung
Started in: 1969.
Incorporated on: 2nd May, 1991.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Manufacturer,
Wholesaler, Exporter and Importer
Employees: 25. (Hong Kong)
Main Dealing Banker: Hang Seng
Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
HIP LIK PACKAGING
PRODUCTS FACTORY LTD.
Registered Head
Office:-
3/F., Oriental Daily News Building, 6 Kwei Chow Street, Tokwawan,
Kowloon, Hong Kong.
China Office:-
3 Xihuan Road, Buji Town, Longgang District, Shenzhen Special Economic
Zone, China.
[Tel: 86-400-6030 286
Fax: 86-0755-8240 0330
E-mail: sales@newhiplik.com.cn]
China Factory:-
New Hip Lik Packaging Products (Shenzhen) Co. Ltd.
Pingshan, Shenzhen Special Economic Zone, China.
Associated
Companies:-
Ando (Hong Kong) Ltd., Hong Kong.
Hip Lik Packaging Products Corporation India Pvt. Ltd., India.
Hip Lik Packaging Products Factory (HK) Ltd., Hong Kong.
Hip Lik Packaging Products Factory (International) Ltd., Hong Kong.
Hip Lik Packaging Products Ltd., Hong Kong.
HLP Klearfold, US.
15380702
0308074
Managing Director: Mr. Yeung Yin
Yung
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
(As per registry dated 02-05-2013)
|
Name |
|
No. of shares |
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YEUNG Yin Yung [Husband] |
|
89 |
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CHAI Chau Kam [Wife] |
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1 |
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YEUNG Ching Man |
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10 |
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––– |
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Total: |
100 === |
(As per registry dated 02-05-2013)
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Name (Nationality) |
Address |
|
YEUNG Yin Yung |
Flat D, 21/F., Ilford Court, 5 Perth Street, Kowloon, Hong Kong. |
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CHAI Chau Kam |
Flat D, 21/F., Ilford Court, 5 Perth Street, Kowloon, Hong Kong. |
|
YEUNG Ching Man |
Flat F1, 13/F., National Court, 242 Nathan Road, Kowloon, Hong Kong. |
CHAI Chau Kam (As per registry
dated 02-05-2013)
The subject was incorporated on 2nd May, 1991 as a private limited
liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Dartche Enterprises Ltd.,
name changed to Hip Lik PVC Products Factory Ltd. on 31st March, 1992. The present style was adopted on 7th February
1995.
The subject was set up to take over the running business of Hip Lik
Products Factory, a partnership firm jointly owned by Mr. Yeung Yin Yung and
Mr. Yeung Chi Man and was established in 1969. The take-over was completed in 1996.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Manufacturers
and Wholesalers; Exporters and Importers; Services/Sub-contracted Works.
Lines:-
Product
Manufactured
Transparent PVC/PET packaging products,
blister trays, collapsible PVC boxes, gift packs
Service/Sub-contracted
Works
Hot stamping - PVC/PET packaging products;
offset printing - PVC/PET packaging products; silk screen printing - PVC/PET
packaging products; frosted effect printing.
Brand Name: HIP LIK.
Total Floor Space: 465 sq.m.
Employees: 25. (Hong Kong)
Over 500. (China)
Raw Materials: Mainly imported
from Europe, US, China & Southeast Asia and procured locally.
Markets: Hong Kong,
China, Japan, India, US, Canada, UK and other European countries.
Terms/Sales: Various terms.
Terms/Buying: As per contracted.
The Hongkong Exporters’ Association
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Mortgage or Charge:-
Date of Letter of Pledge and Set-Off Agreement: 27-03-2002
Amount: General banking
facilities
Property: All credit
balance in the account maintained with the Bank or its subsidiaries under ref.
no. 898788-300 and 898788-301 for the amount not less than EUR 1,404,327.09
& USD11,700.00 respectively in the name of Hip Lik Packaging Factory Ltd.
Mortgagee: Wing Hang Bank
Ltd., Hong Kong.
Profit & Loss: Business
is profitable.
Condition: Keeping in an active and
satisfactory manner.
Facilities: Making active use of general
banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd., Hong Kong.
Standing: Good.
Hip Lik Packaging Products Factory Ltd. is a successor to Hip Lik
Products Factory which was established in 1969, a partnership firm formerly
jointly owned by Mr. Yeung Yin Yung and Mr. Yeung Ching Man. Although the new limited company was formed
in March 1992, the take-over was not completed until 1996.
Formerly the subject was equally owned by Mr. Yeung Yin Yung and his
wife Ms. Chai Chau Kam. Now it is
jointly owned by Mr. Yeung Yin Yung, holding 89% interests, Ms. Chai Chau
Kam, holding just 1%, Mr. Yeung China Man, 10%.
The subject is a key member of the Hip Lik Group. The Group is a leading producer of clear
packaging products in the world. It
manufactures clear plastic box exclusively and provides professional clear packaging
solutions to the world’s customers for more than 40 years.
The subject is one of the leading manufacturers in designing and
manufacturing of transparent PVC/PET packaging products including folding
boxes, tubes, blister products (vacuum formed), top and bottom trays, apple pie
(pillow) boxes and die cut sheets. It
also handles silk screen printing, hot stamping printing, offset printing and
frosted effect printing on PVC, PET and PP die-cut sheets.
The subject’s products are widely used in the industries of toys and
games, electronics, garments, watches and clocks, gifts and premiums, food,
household, stationery, cosmetics, leather goods, health care products,
etc. It has moved all the production
facilities to Shenzhen, China to take the advantage of low overhead
chargers. With a workforce of over 500,
the Shenzhen factory is well equipped with a full range of advanced automatic
machinery imported from Europe and the United States.
The production area of the plant covers over 600,000 sq.ft.
Business started in 1969, the subject serves worldwide customers,
especially those in the United States and Europe. It has employed many professionally trained
staff and have a good management system.
It is the first company which was awarded ISO 9002 Quality Certificate
in the Transparent Packaging Industry in Hong Kong by Det Norske Veritas of the
Netherlands.
In 2010, the Group acquired Klearfold brand, the renowned brand in the
United States. In the same year, the
Group set up HLP Klearfold Inc.
In 2013, the Group set up branch offices in South Korea and India. It got the certification of BRC Global
Standard for Packaging & Packaging Materials. In the same year, the Group invested in a
new, advanced with 13-colour flexo printing press.
The annual sales turnover of the Group is very significant. It has had a number of famous customers in
the United States and Europe.
The subject also receives OEM orders.
Business has been actively conducted.
History in Hong Kong is over 23 years.
On the whole, consider the subject good for normal business engagements.
Property information of director:-
|
Property Location |
Owner |
Date of Purchase |
Purchased |
|
Flat C on 8/F., Cheong Wah Factory Building, 39-41 Sheung Heung Road
& 60 Cheung Ning Street, Kowloon, Hong Kong. |
Yeung Yin Yung |
13-06-1985 |
HK$700,000 |
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Apartment No. F1 on 13/F., National Court, 240-252 Nathan Road,
16A-16F Jordan Road & 19‑24 Tak Hing Street, Kowloon, Hong
Kong. |
Yeung Ching-Man |
10-12-1985 |
HK$250,000 |
(No mortgage registered against all the properties)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.20 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
|
-- |
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.