MIRA INFORM REPORT

Report Date :

08.10.2014

IDENTIFICATION DETAILS

Name :	HC TRADING MALTA LTD
Registered Office :	No. 1, Level 4, St. George's Building, Elija Zammit Street, Stj3151 St. Julian's
Country :	Malta
Financials (as on) :	31.12.2012
Date of Incorporation :	16.12.2005
Com. Reg. No.:	C 37587
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in Manufacturer, Contractors, Distributors and Exporter of Other Articles of Concrete, Plaster and Cement.
No of Employees :	11

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)
Malta	B1	B2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

MALTA - ECONOMIC OVERVIEW

Malta - the smallest economy in the euro zone - produces only about 20% of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's geographic position between Europe and North Africa makes it a target for irregular migration, which has strained Malta's political and economic resources. Malta's fertility rate is below the EU average, and population growth in recent years has largely been from immigration, putting increasing pressure on the pension system. Malta adopted the euro on 1 January 2008. Malta's economy is dependent on foreign trade, manufacturing, and tourism, and was hurt by the global economic downturn, but fared better than most other EU member states. Malta has low unemployment relative to other European countries, and growth has recovered since the 2009 recession. Malta's financial services industry has grown in recent years and it has avoided contagion from the European financial crisis, largely because its debt is mostly held domestically and its banks have low exposure to the sovereign debt of peripheral European countries. The EU reopened an excessive deficit procedure against Malta in June 2013, having found that its forecasted deficit for the year was likely to exceed 3% of GDP.

Source : CIA

Name & Address

NAME INQUIRED UNDER:

HC TRADING MALTA LTD

Correct Registered Name:

HC TRADING MALTA LIMITED

Address:

No. 1, Level 4, St. George's Building, Elija Zammit Street, Stj3151 St. Julian's Malta

Telephone:

+356-22484800

Fax:	+356-22484810

Email:

info@hctrading.com

Web:	www.hctrading.com

Business address:

No. 1, Level 4, St. George's Building, Elija Zammit Street, Stj3151 St. Julian's Malta

Legal Status

Legal Form:

Private Limited Liability Company Private Limited Liability A private limited liability company is one that, in its constitutive document, restricts the rights to transfer shares, limits the number of its members to fifty and prohibits any invitation to the public to subscribe for any shares or debentures of the company.

Registration number and city:

C 37587 MFSA, TRIQ NOTABILE, BIRKIRKARA

Registration date:

16.12.2005

Company Status

Registration status: 16.12.2005 - registered company
Activity status: 2005 - Company is active

Principals

Shareholders
Full Name	Personal ID	Function	Nationality	Equity	Address
HEIDELBERGCEMENT TECHNOLOGY CENTER GMBH		Shareholder		0.08% 1 Ordinary - B
HCT HOLDING MALTA LIMITED Registration: No. C 37555, 15.12.2005, BIRKIRKARA, MALTA		Shareholder		99.92% 1,249 Ordinary - A	NO. 1, LEVEL 4, ST. GEORGE'S BUILDING, ELIJA ZAMMIT STREET STJ 3151 ST. JULIANS MALTA

Management
Full Name	Personal ID	Age	Function	Nationality	Qualification	Experience	Address
Mr. DANIEL H J GAUTHIER	EH457506		Legal representative	BELGIUM	not disclosed	not disclosed	49, CHEMIN DE STOISY 1400 NIVELLES BELGIUM
Mr. DANIEL H J GAUTHIER	EH457506		Judicial Representative	BELGIUM	not disclosed	not disclosed	49, CHEMIN DE STOISY 1400 NIVELLES BELGIUM
Mr. DANIEL H J GAUTHIER	EH457506		Director	BELGIUM	not disclosed	not disclosed	49, CHEMIN DE STOISY 1400 NIVELLES BELGIUM
JUAN BAUTISTA FERNANDEZ	BEB26223		Director	MALTA			SQAQ NUMRU 2, 6, TRIQ SANTA MARIJA BALZAN MALTA
JUAN BAUTISTA FERNANDEZ	BEB26223		Legal representative	MALTA			SQAQ NUMRU 2, 6, TRIQ SANTA MARIJA BALZAN MALTA
JUAN BAUTISTA FERNANDEZ	BEB26223		Judicial Representative	MALTA			SQAQ NUMRU 2, 6, TRIQ SANTA MARIJA BALZAN MALTA
JAN ROLAND ERIKSSON	81051241		Director	SWEDEN	N/A	N/A	TIGNE POINT, T7B, NO 18 SLIEMA MALTA
JAN ROLAND ERIKSSON	81051241		Legal representative	SWEDEN	N/A	N/A	TIGNE POINT, T7B, NO 18 SLIEMA MALTA
JAN ROLAND ERIKSSON	81051241		Judicial Representative	SWEDEN	N/A	N/A	TIGNE POINT, T7B, NO 18 SLIEMA MALTA
Mr. John Borg Olivier	449763M		Company’s Official Secretary	MALTA	not disclosed	not disclosed	Triq Mannuel Agius, 1, Il-Murex Swieqi MALTA
Mr. KERIM ERBEN	TR-V153523		Legal representative	TURKEY	not disclosed	not disclosed	A3 BLOK, DAIRE 06, GOKTURK BELDESI, ISTANBUL EVLERI, KEMERBURGAZ ISTANBUL TURKEY
Mr. KERIM ERBEN	TR-V153523		Judicial Representative	TURKEY	not disclosed	not disclosed	A3 BLOK, DAIRE 06, GOKTURK BELDESI, ISTANBUL EVLERI, KEMERBURGAZ ISTANBUL TURKEY
Mr. KERIM ERBEN	TR-V153523		Director	TURKEY	not disclosed	not disclosed	A3 BLOK, DAIRE 06, GOKTURK BELDESI, ISTANBUL EVLERI, KEMERBURGAZ ISTANBUL TURKEY
Mr. CARL JOHAN OVE MALM	34192A		Legal representative	SWEDEN	not disclosed	not disclosed	TRIQ DANIEL SAMMUT, 22, VILLA FONTAINE LIJA MALTA
Mr. CARL JOHAN OVE MALM	34192A		Judicial Representative	SWEDEN	not disclosed	not disclosed	TRIQ DANIEL SAMMUT, 22, VILLA FONTAINE LIJA MALTA
Mr. CARL JOHAN OVE MALM	34192A		Director	SWEDEN	not disclosed	not disclosed	TRIQ DANIEL SAMMUT, 22, VILLA FONTAINE LIJA MALTA

OTHER DIRECTOR'S INVOLVEMENTS:

Kerim Erben:

HC Green Trading Limited - C 54467
Director
Legal Representative
Judicial Representative

HCT HOLDING MALTA LIMITED - C 37555
Director
Legal Representative
Judicial Representative

Daniel H J Gaithier:

HC Green Trading Limited - C 54467
Director
Legal Representative
Judicial Representative

HCT HOLDING MALTA LIMITED - C 37555
Director
Legal Representative
Judicial Representative

Carl Johan Ove Malm:

HCT HOLDING MALTA LIMITED - C 37555
Director
Legal Representative
Judicial Representative

HC Green Trading Limited - C 54467
Director
Legal Representative
Judicial Representative

JAN ROLAND ERIKSSON ERIKSSON is involved in the following company/companies:

HCT HOLDING MALTA LIMITED - C 37555
Director
Legal Representative
Judicial Representative

JUAN BAUTISTA FERNANDEZ is involved in the following company/companies:

HC Green Trading Limited - C 54467
Director
Legal Representative
Judicial Representative

HCT HOLDING MALTA LIMITED - C 37555
Director
Legal Representative
Judicial Representative

Activities

Activities:

Contractors & Distributors & Exporters

Operations:

NACE   2369 Manufacture of other articles of concrete, plaster and cement SIC   3241 Cement, Hydraulic The subject's activities are related to transactions outside Malta - trade in clinker, cement for granulated blast furnace slug, gypsum, limestone, white cement, oil well cement, coal, pet coke and all other bulk cargo of the cement industry and similar industries. The subject has divided its trading activities into two different regions; East and West. The western region consist of the Med Basin and Black Sea, Europe, America and Middle East area. The eastern region includes Asia Pacific, South East Asia and Africa. Industry Classification - NAICS Cement Manufacturing Detailed Description of Industry Classification: Cement Manufacturing (NAICS #32731) This industry comprises establishments primarily engaged in manufacturing portland, natural, masonry, pozzalanic, and other hydraulic cements. Cement manufacturing establishments may calcine earths or mine, quarry, manufacture, or purchase lime. Mining or quarrying limestone--are classified in U.S. Industry 212312, Crushed and Broken Limestone Mining and Quarrying; Manufacturing lime--are classified in Industry 327410, Lime Manufacturing; Manufacturing ready-mix concrete--are classified in Industry 327320, Ready-Mix Concrete Manufacturing; and Manufacturing dry mix concrete--are classified in U.S. Industry 327999, All Other Miscellaneous Nonmetallic Mineral Product Manufacturing.

Motor Vehicles:

This information is not available

Imports:

This information is not available

Exports:

Payment terms:

All Kinds of Terms

WORLD

Agencies:

This information is not available

Trade Suppliers:

This information is not available

Workforce:

Number Of Employees:

11

Description Of Premises:

Address:	No. 1, Level 4, St. George's Building, Elija Zammit Street, St. Julian's Malta
Type of premises:	Premises

Headquarters:

The subject operates from premises located at the above mentioned address.

Branches:

This information is not available.

Related Companies

Affiliated Company
HC GREEN TRADING LIMITED , MALTA

Parent Company
HCT HOLDING MALTA LIMITED , MALTA , National ID: C 37555

Affiliated Company
HEIDELBERGCEMENT MALTA PRIMA LIMITED , MALTA , National ID: C 45698

Associated Company
PALATINA INSURANCE LIMITED , MALTA , National ID: C 44585

PLEASE NOTE BRIEF INFORMATION ON RELATED COMPANIES:

Parent Company:
Company Name HCT HOLDING MALTA LIMITED
Registration Date Dec 15, 2005
City/Locality ST. JULIANS, MALTA

Associates:
Company Name PALATINA INSURANCE LIMITED
Registration Date Jun 26, 2008
City/Locality SLIEMA SLM1022, MALTA

Affiliates:
Company Name HEIDELBERGCEMENT MALTA PRIMA LIMITED - STRUCK OFF
Registration Date Nov 27, 2008
City/Locality VALLETTA VLT1102, MALTA

Company Name HC Green Trading Limited
Registration Date Nov 21, 2011
City/Locality ST. JULIANS STJ 3151 , Country MALTA

Bankers

LOMBARD BANK MALTA P.L.C.
67, Republic Street, Valletta VLT 1117, Malta

Standard Chartered Bank
25 London Bridge Street, London SE19TB, UK


Account numbers were not disclosed.

Press:

06.10.2014, No press/media available at present

Auditors / Accountants

Auditor: Emanuel Azzopardi
Date: 31.12.2012
Financials have been audited
Company: Ernst & Young, Regional Business Centre, Achille Ferris Street, Msida, Malta

Share Capital

Registered capital:	USD 1,547.00
Number of Ordinary - A:	1,249
Value per share of Ordinary - A:	USD 1.24
Number of Ordinary - B:	1
Value per share of Ordinary - B:	USD 1.24
Issued capital:	USD 1,547.00
Number of Ordinary - A:	1249
Value per share of Ordinary - A:	USD 1.24
Number of Ordinary - B:	1
Value per share of Ordinary - B:	USD 1.24
Paid-up capital:	USD 1,547.00

Charges:

This information is not available

Finance

Amounts shown in US Dollar (USD)		01.01.2012-31.12.2012
	PROFIT & LOSS
	Sales Turnover	986,116,892.00
	Cost of Sales	-951,021,329.00
	Gross Profit	35,095,563.00
	Other Operating Income	3,181,492.00
	Administrative Expenses	-4,267,639.00
	Other Operating Expenses	-145,078.00
	Operational Profit	33,864,338.00
	Financial Income	53,199.00
	Profit Before Taxation	33,917,537.00
	Taxation	-11,878,205.00
	Profit for the year	22,039,332.00
	BALANCE SHEET
	Property, Plant & Equipment	61,452.00
	Other Financial Fixed Assets	1,484.00
	Total Fixed Assets	62,936.00
	Trade Debtors (receivables from customer)	99,863,833.00
	Cash in Hand & at Bank	47,672,952.00
	Total Current Assets	147,536,785.00
	Total Assets	147,599,721.00
	Called up share capital (issued capital stock)	1,547.00
	Total Equity	1,547.00
	Taxation Due	11,878,570.00
	Total Current Liabilities	147,598,174.00
	Total Equity & Liabilities	147,599,721.00
	Creditors	135,719,604.00
	Total Liabilities	147,598,174.00

GENERAL COMMENTS

HC Trading is the International Trading Arm of the HeidelbergCement Group with trade offices in Dubai, Florida, Istanbul, Malta, Shanghai and Singapore.

Filed changes:
20.09.2013: Jonathan Hugh Wilshaw Gardner resigned from the post of company director.
09.09.2013: Jan Roland Albert Eriksson and Juan Bautista Fernandez have been appointed as directors.
13.09.2012 - Yvette Stevens resigned from the post of company secrtary. John Borg Olivier was appointed in her stead.
03.01.2011 - Hamdi Sarp Taskapilioglu resigned from the post of company director.
15.10.2009 – Mr. Jonathan Hugh Wilshaw was appointed director.
31.05.2009 – Mr. Roger Clayton resigned from the post of director and Mr. Hamdi Sarp Taskapilioglu was appointed in his stead.
01.07.2008 – Mr. Roger Clayton was appointed a director of the Company.
12.05.2008 - Due to his demise, Mr. Petter Bernt Hjertholm, is no longer a director of the Company.

Court information:

No pending court cases have been found.

We have contacted the company and sent an email. To date no reply has been received.

Please note that the information provided in this report was obtained from official and publicly available sources.

Economy Overview
Region	Europe
Income Category	High income
Population	419,000
GNI Per Capita (US$)	21,028
Doing Business 2013 Rank:	102
Doing Business 2012 Rank:	102
Change in Rank	0
Getting Credit
DB 2013 Rank	176
DB 2012 Rank	176
Change in Rank	0
Measures on credit information sharing and the legal rights of borrowers and lenders are shown below. The Legal Rights Index ranges from 0-10, with higher scores indicating that those laws are better designed to expand access to credit. The Credit Information Index measures the scope, access and quality of credit information available through public registries or private bureaus. It ranges from 0- 6, with higher values indicating that more credit information is available from a public registry or private bureau.
Indicator	Malta	OECD
Strength of legal rights index (0-10)	3	7
Depth of credit information index (0-6)	0	5
Public registry coverage (% of adults)	0	10.2
Private bureau coverage (% of adults)	0	67.4
Protecting Investors
DB 2013 Rank	70
DB 2012 Rank	66
Change in Rank	(-) 4
The indicators below describe three dimensions of investor protection: transparency of transactions (Extent of Disclosure Index), liability for self-dealing (Extent of Director Liability Index), shareholders� ability to sue officers and directors for misconduct (Ease of Shareholder Suits Index) and Strength of Investor Protection Index. The indexes vary between 0 and 10, with higher values indicating greater disclosure, greater liability of directors, greater powers of shareholders to challenge the transaction, and better investor protection.
Indicator	Malta	OECD
Extent of disclosure index (0-10)	3	6
Extent of director liability index (0-10)	6	5
Ease of shareholder suits index (0-10)	8	7
Strength of investor protection index (0-10)	5.7	6.1
Trading Across Borders
DB 2013 Rank	34
DB 2012 Rank	35
Change in Rank	(+) 1
The costs and procedures involved in importing and exporting a standardized shipment of goods are detailed under this topic. Documents associated with every official procedure are counted - starting from the final contractual agreement between the two parties, and ending with the delivery of the goods.
Indicator	Malta	OECD
Documents to export (number)	6	4
Time to export (days)	11	10
Cost to export (US$ per container)	855	1,028
Documents to import (number)	7	5
Time to import (days)	9	10
Cost to import (US$ per container)	970	1,080
Resolving Insolvency
DB 2013 Rank	67
DB 2012 Rank	69
Change in Rank	(+) 2
The time and cost required to resolve bankruptcies is shown below. The data identifies weaknesses in existing bankruptcy law and the main procedural and administrative bottlenecks in the bankruptcy process. The recovery rate, expressed in terms of how many cents on the dollar claimants recover from the insolvent firm, is also shown.
Indicator	Malta	OECD
Time (years)	3	1.7
Cost (% of estate)	10	9
Outcome (0 as piecemeal sale and 1 as going concern)	0	1
Recovery rate (cents on the dollar)	39.2	70.6

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.35
UK Pound	1	Rs.98.71
Euro	1	Rs.77.47

INFORMATION DETAILS

Analysis Done by :	SUB
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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.