|
Report Date : |
21.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
TATA INTERNATIONAL METALS (ASIA) LTD. |
|
|
|
|
Registered Office : |
Unit 2506-2508, 25/F., Enterprise Square 2, 3 Sheung Yuet
Road, Kowloon Bay, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
21.08.1986 |
|
|
|
|
Com. Reg. No.: |
10722212 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importers and Exporters; Transhipment Agent of all kinds
of steel and steel products such as structural sections, bearing, tubular and
sheet piles, structural hollow sections, channels and angles, plates,
elevator guide rails, bulb flats, window sections, rail track, colorcoat
steel for cladding, tin plate, grain and non‑oriented, electrical
steels, semi-finished steels, wire rods, strip and tubular products,
engineering steels |
|
|
|
|
No. of Employees |
18 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
TATA
INTERNATIONAL METALS (ASIA)
LTD.
ADDRESS: Unit 2506-2508, 25/F., Enterprise Square 2, 3 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 852-2272 5400, 852-2751 9747, 852-2751 1802, 852-2624 9521
FAX: 852-2759 6332, 852-2754 6672, 852-2755 5806
E-MAIL: agoel@tatahk.com
Managing Director: Mr. Ajay Murlidhar Ponkshe
Incorporated on: 21st October, 1986.
Organization: Private Limited Company.
Capital: Nominal:HK$10,000.00
Issued: HK$10,000.00
Business Category: Steel Trader.
Group Employees: 18. (Hong Kong)
Main Dealing Banker: ABN AMRO Bank N.V., Hong Kong Branch.
Banking Relation: Good.
Registered Head
Office:-
Unit 2506-2508, 25/F., Enterprise Square 2, 3 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong.
Holding Company:-
Tata Steel International Singapore Pte. Ltd., Singapore.
Intermediate Holding
Company:-
Tata International Ltd.
Block A, Shivsagar Estates, Dr. Annie Besant Road, Worli, Mumbai 400 018, India.
[Tel: 91-22-6665 2200-10; Fax: 91-22-6661 2833]
Ultimate Holding
Company:-
Tata Sons Ltd., India.
Associated/Affiliated
Companies:-
Tata Group of Companies
Advinus Therapeutics Pvt. Ltd., India.
Casa Decor Pvt. Ltd., India.
CMC Ltd., India.
Consilience Technologies (Pty) Ltd., South Africa.
Drive India Enterprise Solution Ltd., India.
Hooghly Met Coke and Power Co. Ltd., India.
Infiniti Retail Ltd., India.
Jamipol Ltd., India.
Jamshedpur Utilities and Services Co. Ltd., India.
Landmark Ltd., India.
Mjunction Services Ltd., India.
Natsteel Holdings Pte. Ltd., Singapore.
Nelco Ltd., India.
Nelito Systems Ltd., India.
Powerlinks Transmission Ltd., India.
Rallis India Ltd., India.
Roots Corporation Ltd., India.
Taj Air Ltd., India.
TAL Manufacturing Solutions Ltd., India.
Tata (UAE) FZE, UAE.
Tata (Zimbabwe) Pvt. Ltd., Zimbabwe.
Tata Advanced Materials Ltd., India.
Tata Advanced Systems, India.
Tata Africa Holdings (SA) Pty. Ltd., South Africa.
Tata AG, Switerland.
Tata AIG General Insurance Co. Ltd., India.
Tata AIG Life Insurance Co. Ltd., India.
Tata Asset Management Ltd., India.
Tata AutoComp. Systems Ltd., India.
Tata BlueScope Steel Ltd., India.
Tata BP Solar India Ltd., India.
Tata Business Support Services Ltd., India.
Tata Capital Ltd., India.
Tata Ceramics Ltd., India.
Tata Chemicals Europe Ltd., UK.
Tata Chemicals Ltd., India.
Tata Chemicals Megadi Ltd., Kenya.
Tata Chemicals North America Inc., US.
Tata Coffee Ltd., India.
Tata Communications Ltd., India.
Tata Consultancy Services Ltd., India.
Tata Consulting Engineers Ltd., India.
Tata Cummins Ltd., India.
Tata Daewoo Commercial Vehicle Co. Ltd., South Korea.
Tata DOCOMO Ltd., India.
Tata Elxsi Ltd., India.
Tata Engineering Ltd., India.
Tata Engineering Services (Pte) Ltd., Singapore.
Tata Enterprises (Overseas) AG, Switzerland.
Tata Financial Services, India.
Tata Ghana Ltd., Ghana.
Tata Global Beverages Ltd., India.
Tata Holdings (Tanzania) Ltd., Tanzania.
Tata Holdings Mocambique Limitada., Mocambique.
Tata Housing Development Co. Ltd., India.
Tata Inc., US.
Tata Industrial Services Ltd., India.
Tata Industries Ltd., India.
Tata Information Technology (Shanghai) Co. Ltd., China.
Tata Interactive Systems, India.
Tata International (Australia) Pty. Ltd., Australia.
Tata International (Thailand) Ltd., Thailand.
Tata International (UK) Ltd., UK.
Tata International AG, Switzerland.
Tata International DLT Pvt. Ltd., India.
Tata International Ltd., Bangladesh.
Tata International Ltd., Nepal.
Tata International Ltd., Saudi Arabia.
Tata International Ltd., Singapore.
Tata International Ltd., Sri Lanka.
Tata International Trading Brazil Ltda., Brazil.
Tata Investment Corporation Ltd., India.
Tata Ltd., UK.
Tata Metaliks Ltd., India.
Tata Motors European Technical Centre PLC., UK.
Tata Motors Ltd., India.
Tata Nambia (Pty) Ltd., Nambia.
Tata NYK Shipping Pte. Ltd., Singapore.
Tata Petrodyne Ltd., India.
Tata Pigments Ltd., India.
Tata Power Co. Ltd., India.
Tata Power Delhi Distribution Ltd., India.
Tata Power Trading Co. Ltd., India.
Tata Precision Industries (India) Ltd., India.
Tata Precision Industries (UK) Ltd., UK.
Tata Precision Industries Pte. Ltd., Singapore.
Tata Projects Ltd., India.
Tata Quality Management Services Ltd., India.
Tata Realty and Infrastructure Ltd., India.
Tata Ryerson Ltd., India.
Tata Serivces Ltd., India.
Tata Sky Ltd., India.
Tata Sons Ltd., US.
Tata South Africa Holdings (SA) (Pty) Ltd., South Africa.
Tata South-East Asia Ltd., China.
Tata South-East Asia Ltd., Indonesia.
Tata South-East Asia Ltd., Thailand.
Tata Sponge Iron Ltd., India.
Tata SSL Ltd., India.
Tata Steel Europe Ltd., UK
Tata Steel KZN (Pty) Ltd., South Africa.
Tata Steel Ltd., India.
Tata Steel Processing and Distribution Ltd., India.
Tata Tea Inc., US.
Tata Tea Ltd., India.
Tata Technologies Ltd., India.
Tata Teleservices (Maharashtra) Ltd., India.
Tata Teleservices Ltd., India.
Tata Uganda Ltd., Uganda.
Tata West Asia FZE, UAE.
Tata Zambia Ltd., Zambia.
Tayo Rolls Ltd., India.
Telco Construction Equipment Co. Ltd., India.
The Indian Hotels Co. Ltd., India.
Tinplate Co. of India Ltd., India.
Titan Industries Ltd., India.
TM International Logistics Ltd., India.
TML Drivelines Ltd., India.
Trent Ltd., India.
TRF Ltd., India.
TRL Krosaki Refractories Ltd., India.
Voltas Ltd., India.
Westland Ltd., India.
etc.
10722212
0176891
Managing Director: Mr. Ajay Murlidhar Ponkshe
Nominal Share Capital: HK$10,000.00 (Divided into 1,000 shares of HK$10.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDER: (As per registry dated 21-10-2013)
|
Name |
|
No. of shares |
|
Tata Steel International Singapore Pte. Ltd. 22 Tanjong Kling Road, Singapore 628048. |
|
1,000 ==== |
DIRECTORS: (As per registry dated 21-10-2013)
|
Name (Nationality) |
Address |
|
Ramesh MANI |
3301A & B Verona, Hiranandani Gardens, A S Marg, Powai, Mumbai 400076, India. |
|
Ajay Murlidhar PONKSHE |
3 Yashodan, Sahayog Mandir Road, Naupada Thane, 400602, India. |
|
John Edward Morton CAOUKI |
24 Coombe Gardens, London, SW20 OQU, UK. |
SECRETARY: (As per registry dated 21-10-2013)
|
Name |
Address |
Co. No. |
|
Boardroom Corporate Secretaries (HK) Ltd. |
31/F., 148 Electric Road, North Point, Hong Kong. |
1189239 |
The subject was incorporated on 21st October, 1986 as a private limited liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Industrial Steels Ltd., name changed to Corus Trading Ltd. on 14th February, 2000; changed to Corus International Trading Ltd. on 12th March, 2004; to Tata Steel International (Hong Kong) Ltd. on 7th January, 2010 and further to the present style on 22nd February, 2013.
Long time ago, the subject was located at 6/F., Jardine Engineering House, 260 King’s Road, North Point, Hong Kong. It moved to the present address in July 2014.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importers and Exporters; Transhipment Agent.
Lines: All kinds of steel and steel products such as structural sections, bearing, tubular and sheet piles, structural hollow sections, channels and angles, plates, elevator guide rails, bulb flats, window sections, rail track, colorcoat steel for cladding, tin plate, grain and non‑oriented, electrical steels, semi-finished steels, wire rods, strip and tubular products, engineering steels.
Group Employees: 18. (Hong Kong)
Commodities Imported: Mainly imported from India, Russia, etc.
Markets: China, Taiwan, Tunisia, the United States, Vietnam, Costa Rica and Japan..
Terms/Sales: Various Terms.
Terms/Buying: Various Terms.
The Hong Kong General Chamber of Commerce, Hong Kong.
Nominal Share Capital: HK$10,000.00 (Divided into 1,000 shares of HK$10.00 each)
Issued Share Capital: HK$10,000.00
Mortgage or Charge:-
Date: 26-03-2014
Instrument: Security Memorandum (First Party)
Mortgagee: ABN AMRO Bank N.V.
Coolsingel 93, 3012 AE Rotterdam, The Netherlands.
Profit or Loss: Business is profitable.
Condition: Keeping in an active and good manner.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Good.
Banker: ABN AMRO Bank N.V., Hong Kong Branch.
Standing: Very Good.
Tata International Metals (Asia) Ltd. is a wholly-owned subsidiary of Tata Steel International Singapore Pte. Ltd. [TSIS] which is a Singapore-based company. In turn, TSIS is a wholly-owned overseas subsidiary of Tata International Ltd. [Tata International] which is a publicly listed company in India.
Established in 1962, Tata International is the trading arm of Tata group entities across geographies.
The subject belongs to the division of the Group Tata Metal.
Now, the business of Tata International covers 39 countries in Africa, Asia, Europe and the Americas.
Supported by global sourcing, deep market knowledge and supply chain management of various steel and related products, the subject’s metals trading business serves customers across 50 countries. Recent investments in downstream activities in Africa have enabled it to widen its products offering and increase customer retention.
Key products offered include steel, metallic products and rolls, products for the aluminium industry (customised engineering products) and module mounting systems (solar). The business also supports a growing domestic (pan-India) business for bicycles under the brand Stryder.
Jiangsu Shagang Group [Shagang] is one of the main customers of the subject. In 2013, the subject sold 130,000 MT of steel to Shagang. Tata Group has been doing business with Shagang for about 20 years.
The main products of the subject are hot rolled plate and cold rolled coil, hot rolled coil, etc. Prime markets are Taiwan, Tunisia, the United States, Vietnam, Costa Rica and Japan.
For the FY 2012-13, the total revenue of Tata Group, taken together, was Rs 527,047 crore (FY 2011-12 was Rs 475,721 crore), grew by 10.8%. Net forex earnings were Rs 16,604 crore as compared with Rs 7,604 crore in FY 2011-12. For the FY 2012-13, with 62.7% of its revenue coming from businesses outside India.
Tata Group employs over 540,000 people worldwide. The Tata name has been respected in India for 140 years for its adherence to strong values and business ethics.
Every Tata company or enterprise operates independently. Each of these companies has its own board of directors and shareholders, to whom it is answerable.
There are 32 publicly-listed Tata enterprises and they have a combined market capitalisation of about US$122.88 billion (as on 5th June, 2014), and a shareholder base of 3.9 million. Tata companies with significant scale include Tata Steel, Tata Motors, Tata Consultancy Services (TCS), Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels.
Tata Metal is among the top ten steelmakers, and Tata Motors is among the top five commercial vehicle manufacturers, in the world. TCS is a leading global software company, with delivery centres in the United States, the United Kingdom, Hungary, Brazil, Uruguay and China, besides India. Tata Global Beverages is the second-largest player in tea in the world. Tata Chemicals is the world’s second-largest manufacturer of soda ash and Tata Communications is one of the world’s largest wholesale voice carriers.
In tandem with the increasing international footprint of Tata companies, the Tata brand is also gaining international recognition. Brand Finance, a UK-based consultancy firm, valued the Tata brand at US$21.1 billion and ranked it 34th among the top 500 most valuable global brands in their BrandFinance® Global 500 2014 report.
Going forward, Tata is focusing on new technologies and innovation to drive its business in India and internationally. The Nano car is one example, as is the Eka supercomputer (developed by another Tata company), which in 2008 was ranked the world’s fourth fastest. Anchored in India and wedded to traditional values and strong ethics, Tata Group are building multinational businesses that will achieve growth through excellence and innovation, while balancing the interests of shareholders, employees and civil society.
Besides the subject in Hong Kong, Tata’s other wholly-owned subsidiaries are in South Africa, Zambia, Zimbabwe, Namibia, Mozambique, Uganda, Tanzania, Ghana, and the United Arab Emirates. Offices have been set up in Thailand, Bangladesh, Oman, Cyprus, Russia, the United Kingdom and China.
As one of India’s leading global trading companies, Tata is recognized by the Government of India as a “Golden Super Star Trading House”. In total, Tata International exports about 80% of its commodities to foreign countries every year.
On the whole, in view of the parentage and background of the subject, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.29 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.78.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.