MIRA INFORM REPORT
|
Report No. : |
314931 |
|
Report Date : |
03.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
MITSUBISHI ELECTRIC AUTOMATION (HONG KONG)
LIMITED |
|
|
|
|
Formerly Known As : |
RYODEN AUTOMATION LIMITED CAPITAL RISE INTERNATIONAL LIMITED |
|
|
|
|
Registered Office : |
20/F., Cityplaza One, 1111 King’s Road, Taikoo Shing |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
22.06.2001 |
|
|
|
|
Com. Reg. No.: |
31938767 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of Electrical Machines |
|
|
|
|
No. of Employees : |
Not Available |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONGKONG - 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 |
Contact
Point
|
Company Name (in English): |
Mitsubishi Electric Automation (Hong Kong) Limited |
|
Supplied Name: |
MITSUBISHI ELECTRIC AUTOMATION (HONG KONG) LTD |
|
Trading Address: |
20/F, Cityplaza One, 1111 King's Road, Taikoo Shing, Hong Kong |
|
Supplied Address: |
10/F, 169 Electric Road, North Point |
Note: The exact name and
address are as above. The supplied address is subject’s former registered
address.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
20/F., Cityplaza
One, 1111 King’s Road, Taikoo Shing, Hong Kong. |
|
Telephone Number: |
+852-2510-0555 |
|
Fax Number: |
+852-2234-5138 |
|
Date of Registration: |
2001-06-22 |
|
Registered Number: |
761220 |
|
Business Registration No.: |
31938767 |
|
Paid-up Capital: |
HKD 88,000,000 (USD 11,352,000) = 88,000,000
Shares @ HKD 1 (As of 2015.04, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
77878 Other electrical machines and
apparatus, having individual functions, n.e.s.; parts thereof (No.) |
|
Principal Activities: |
Trading of electrical machines |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-06-22 |
Notes: Subject declined to
disclose the number of staff, and from other source we cannot obtain the
information, either.
History
Subject was incorporated on 2001-06-22 with
the registered number 761220 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Effective Date |
Name |
|
2004-10-4 |
MITSUBISHI ELECTRIC AUTOMATION (HONG KONG)
LIMITED |
|
|
|
|
2001-7-20 |
RYODEN AUTOMATION LIMITED |
|
|
|
|
2001-6-22 |
CAPITAL RISE INTERNATIONAL LIMITED |
|
|
Change of Registered Address
|
Former Address |
10th Floor, @Convoy, 169 Electric Road,
North Point, Hong Kong. |
|
Current Address |
20/F., Cityplaza One, 1111 King’s Road,
Taikoo Shing, Hong Kong. |
Corporate
Structure
Related Companies
|
1 |
|
|
Name |
Mitsubishi Elevator Hong Kong Co., Ltd. |
|
Address |
7th Floor, 321 Java Road, North Point, Hong
Kong |
|
Tel |
+852-2510-1030 |
|
Fax |
+852-2806-3364 |
|
2 |
|
|
Name |
Mitsubishi Electric Taiwan Co., Ltd. |
|
Address |
11th Floor, 88 Sec. 6, Chung Shan N. Road,
Taipei, Taiwan |
|
Tel |
+886-2-2835-3030 |
|
Fax |
+886-2-2833-9819 |
|
3 |
|
|
Name |
Mitsubishi Electric India Pvt. Ltd. |
|
Address |
2nd Floor, Tower A & B, DLF Cyber
Greens, Dlf Cyber City, DLF Phase -III,Gurgaon-122002, India |
|
Tel |
+91-124-463-0300 |
|
Fax |
+91-124-463-0399 |
|
4 |
|
|
Name |
Mitsubishi Electric (China) Co., Ltd. |
|
Address |
Room 1507, Pacific Century Tower A, No.2A
Workers' Stadium North Road, Chaoyang, Beijing, 100027, China |
|
Tel |
+86-10-6539-1700 |
|
Fax |
+86-10-6539-1704 |
Shareholder
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Mitsubishi Electric (Hong Kong) Limited |
88,000,000 |
100% |
|
Total |
88,000,000 |
100% |
Major Shareholder Information:
|
Name: |
Mitsubishi Electric (Hong Kong) Limited |
|
Former Name: |
Mitsubishi Electric Hong Kong Group Limited |
|
Address: |
20/F Cityplaza One, 1111 King's Road, Taikoo
Shing, Hong Kong |
|
Registered Number: |
12379 |
|
Business Registered Number: |
2009640 |
|
Date of Registration: |
1966-1-27 |
|
Tel: |
+852-2510-0555 |
|
Fax: |
+852-2234-5138 |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Shiroshita Masaki |
|
Address: |
2-7-3, Marunouchi Chiyoda-Ku, Tokyo
100-8310, Japan. |
|
Position: |
Director |
|
Passport Number: |
TK0267817 |
|
Issuing Country: |
Japan |
|
2 |
|
|
Name: |
Kajikawa Yuji |
|
Address: |
3-12-301, Yamate-2, Funabashi City, Chiba
Prefecture, 273-0045, Japan. |
|
Position: |
Director |
|
Passport Number: |
TH0802826 |
|
Issuing Country: |
Japan |
|
3 |
|
|
Name: |
Himi Noriaki |
|
Address: |
2-7-3, Marunouchi Chiyoda-ku, Tokyo
100-8310, Japan. |
|
Position: |
Director |
|
Passport Number: |
TK4106213 |
|
Issuing Country: |
Japan |
|
4 |
|
|
Name: |
Akamoto Masanori |
|
Address: |
Unit B, 28th Floor, Tower 2, Park Towers, 1
King’s Road, Hong Kong. |
|
Position: |
Director |
|
Passport Number: |
TZ0794812 |
|
Issuing Country: |
Japan |
|
5 |
|
|
Name: |
Hui Hin-sing |
|
Address: |
10th Floor, @Convoy, 169 Electric Road, North
Point, Hong Kong. |
|
Position: |
Secretary |
|
ID Number: |
G313619(0) |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
20/F, Cityplaza One, 1111 King's Road,
Taikoo Shing, Hong Kong |
Premises
Information
· The subject is located at 20/F, Cityplaza One, 1111 King's Road, Taikoo Shing, Hong Kong. However, we cannot get any related registration information for this address in the official authorities.
Production
Information
· Subject is engaged in trading of electrical machines, etc. without any production activities.
· It is introduced that subject’s related company has factories in Japan for production.
Purchase
Information
· The Products sold by the subject are mainly purchased from Japan.
Sales Information
· Subject is engaged in sale of electrical machines, etc.
· The major products sold by the subject are inverter, motor, EV control unit, battery management unit, motor control unit, on-board charger, alternator, starter, electric power steering system products, engine management products, air conditioning systems like room air conditioners, building systems like elevators, escalators, etc.
· It is introduced that subject’s sales regions include domestic market and abroad.
· Subject’s group has companies in many countries of the world for manufacturing and sale service.
· The major customers of the subject are manufacturers of automobiles and electronic equipment, household appliances shops, etc.
Settlements
PURCHASE
Domestic Purchase
Subject has little domestic purchase.
Import
|
Products |
Electrical machines, etc. |
|
Payment Terms |
Interior Settlement, L/C, T/T, etc. |
SALES
Domestic Markets
|
Product |
Electrical machines, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Electrical machines, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Financial
Information
The subject has no
obligation to supply its financial statement to the third party according to the
relevant policy in Hong Kong and the only source from which we can obtain the
information is the subject itself.
Subject’s relevant staff rejected to disclose
the financial information; from other sources we could not obtain such
information, either.
Bankers
|
Name: |
The Hongkong and Shanghai Bank Co., Ltd. |
Public
Mortgage Record
No mortgage record of the subject was found.
Lawsuits
Up to now, no present or latent litigation of
the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Name |
Ms. Li |
|
Department: |
Sales Department |
Industry
Information
77878--Other electrical machines and apparatus, having individual
functions, n.e.s.; parts thereof (No.)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
5,702 |
134 |
35,685 |
2,845 |
|
34,932 |
2,294 |
328,043 |
25,003 |
|
|
Australia |
224 |
537 |
23,860 |
13,868 |
|
Belgium |
203 |
47 |
305,804 |
34,387 |
|
Canada |
3,543 |
7,475 |
22,873 |
57,930 |
|
Switzerland |
116 |
109 |
56,578 |
15,141 |
|
The Mainland of China |
22,278,709 |
686,981 |
272,301,356 |
8,146,102 |
|
Exports |
||||
|
Denmark |
-- |
-- |
1 |
29 |
|
South Korea |
-- |
-- |
5 |
115 |
|
14 |
371 |
15 |
395 |
|
|
Thailand |
16 |
349 |
16 |
349 |
|
Taiwan |
-- |
-- |
17 |
350 |
|
The Mainland of China |
106 |
77 |
106,315 |
17,139 |
External Trade
Information:
External Merchandise
Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Address: 20/F, Cityplaza One, 1111 King's
Road, Taikoo Shing, Hong Kong
Cityplaza One, 1111 King's Road, Taikoo Shing,
Hong Kong
%20LIMITED%20-%20314931%2003-Apr-2015_files/image010.jpg)
20/F, Cityplaza One, 1111 King's Road, Taikoo
Shing, Hong Kong
%20LIMITED%20-%20314931%2003-Apr-2015_files/image011.jpg)
20/F, Cityplaza One, 1111 King's Road, Taikoo
Shing, Hong Kong
%20LIMITED%20-%20314931%2003-Apr-2015_files/image012.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
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.