|
Report Date : |
02.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAX SPRINGS MACHINERY MANUFACTURING CO. LTD. |
|
|
|
|
Registered Office : |
Unit 12, 8/F., Vanta Industrial Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
30.06.1999 |
|
|
|
|
Com. Reg. No.: |
30240393 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Manufacturer of all kinds of
precision springs, shafts and wire products |
|
|
|
|
No. of Employees : |
8 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
MAX SPRINGS
MACHINERY MANUFACTURING CO.
LTD.
Unit 12, 8/F., Vanta
Industrial Centre, 21-23 Tai Lin Pai Road, Kwai Chung, New Territories, Hong
Kong.
PHONE: 852-2422 0123
FAX: 852-2424 9998
E-MAIL: sales@sam-tat.com
Managing
Director: Mr. Mak Chi Ip
Incorporated on: 30th June, 1999.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$500,000.00
Business Category: Importer, Exporter and Manufacturer.
Employees: 8. (Hong Kong)
Main Dealing Banker: Shanghai Commercial Bank Ltd., Hong Kong.
Banking Relation: Very Good.
MAX
SPRINGS MACHINERY MANUFACTURING
CO. LTD.
Registered
Head Office:-
Unit 12, 8/F.,
Vanta Industrial Centre, 21-23 Tai Lin Pai Road, Kwai Chung, New
Territories, Hong Kong.
Associated
Factory in China:-
Dongguan Sam Tat
Precision Springs Manufacturing Co. Ltd.
Jiujiangshui
Dongshen Highway, Changping Town, Dongguan City, Guangdong Province, China.
[Tel: 86-769-8339
1690; Fax: 86-769-8339 1115]
Associated
Companies:-
Sam Tat Precision
Springs Manufacturing Co. Ltd., Hong Kong.
(Same address)
Sam Tat Holdings
Ltd., Hong Kong.
30240393
0680478
Managing Director: Mr. Mak Chi Ip
Nominal Share
Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share
Capital: HK$500,000.00
(As
per registry dated 30-06-2014)
|
Name |
|
No.
of shares |
|
MAK
Siu Ling |
|
100,000 |
|
MAK
Chi Wah |
|
100,000 |
|
MAK
Chi Chung |
|
100,000 |
|
MAK
Chi Ip |
|
100,000 |
|
MAK Chi Ho, Leo |
|
100,000 |
|
|
|
–––––– |
|
|
Total: |
500,000 ====== |
(As
per registry dated 30-06-2014)
|
Name (Nationality) |
Address |
|
MAK Chi Ho, Leo |
D.D. 399, Lot 437, Castle Peak Road, D1,
Ting Kau Villa, 3/F., New Territories, Hong Kong. |
|
MAK Chi Wah |
D.D. 399, Lot 437, Castle Peak Road, D1,
Ting Kau Villa, 3/F., New Territories, Hong Kong. |
|
MAK Chi Ip |
D.D. 399, Lot 437, Castle Peak Road, D1,
Ting Kau Villa, 3/F., New Territories, Hong Kong. |
|
MAK Chi Chung |
D.D. 399, Lot 437, Castle Peak Road, D1,
Ting Kau Villa, 3/F., New Territories, Hong Kong. |
MAK Chi Ho (As per registry dated 30-06-2014)
The
subject was incorporated on 30th June, 1999 as a private limited liability
company under the Hong Kong Companies Ordinance.
Apart
from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Manufacturer.
Lines: All kinds of precision springs, shafts and wire products.
Brand Name: MAX.
Employees: 8. (Hong Kong)
100. (China)
Commodities Imported: India, other Asian countries, Russia, etc.
Markets: China, US, Hong Kong, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital: HK$500,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: Shanghai Commercial Bank Ltd., Hong Kong.
Standing: Good.
Max
Springs Machinery Manufacturing Co. Ltd. formerly was a subsidiary company of
Hanvic Corporate Services Ltd. which was a Hong Kong-registered firm. Now, the subject is equally held by five
members of the Mak family.
The
subject is a spring manufacturer and trader.
It is specialized in designing and manufacturing multi-functional
computer spring machines and accessories with high precision. Its spring equipment are used to produce
pressure springs, tension springs, torsion springs and wire forming products,
which are suitable for many industries, such as electronics, toys, home
appliances, and automobiles.
Since
its establishment, the subject has sold thousands of computer spring machines
to clients from mainland China, Hong Kong, the United States, France, Turkey,
Germany, India, South Korea, the Middle East and South America. At present, the subject’s workshop which
covers an area of 2,600 square meters and has over 100 staff members with a
total investment of HK$10 million.
Its
associated company Sam Tat Precision Springs Manufacturing Co. Ltd. [Sam
Tat] was founded in 1963. Sam Tat and
the subject are engaged in the same lines of business and located at the same
operating address.
Sam
Tat is specialized in manufacturing precision springs, shafts and wire
products. Its products are used in
almost all kinds of industries in Hong Kong, China and overseas.
Having
more than 40 years experience and using the best materials, CNC machinery
and equipment, testing machinery and equipment, Sam Tat has been constantly
producing quality products to meet the demand of its customers. Its associated factory is in Changping Town,
Dongguan City, Guangdong Province, China known as ‘Dongguan Sam Tat Precision
Springs Manufacturing Co. Ltd.’ [Dongguan Sam Tat] which has been ISO 9001
certified.
The
legal representative of Dongguan Sam Tat is Mr. Mak Chi Ip. Sam Tat is a member of the Hong Kong Metals
Manufacturers Association.
The
subject’s products are exported to the United States, Canada, Japan,
other Asian countries, Europe, etc.
Business is rather active.
The
subject is fully supported by Sam Tat and the Mak family. History in Hong Kong is over fifteen years
and a month.
On
the whole, consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
31-08-2006 |
Instrument: Mortgage Property: 5/11,816th parts or shares of and in The
Remaining Portion of Lot No. 696 in Demarcation District No. 445, (All That
Lorry Parking Space No. L29 on 1/F. of Vanta Industrial Centre, 21-23 Tai Lin
Pai Road, Kwai Chung, New Territories, Hong Kong.) Mortgagee: Shanghai
Commercial Bank Ltd., Hong Kong. |
To secure “all monies” in respect of general banking facilities |
|
18-09-2006 |
Instrument: Mortgage Property: 30/11,816th parts or shares of and in The Remaining
Portion of Lot No. 696 in Demarcation District No. 445, (All That Factory
Unit No. 12 on 8/F. of Vanta Industrial Centre, 21-23 Tai Lin Pai Road,
Kwai Chung, New Territories, Hong Kong.) Mortgagee: Shanghai
Commercial Bank Ltd., Hong Kong. |
To secure “all monies” in respect of general banking facilities |
.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.79.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
PDT |
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.