|
Report No. : |
334077 |
|
Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
MOTIC HONG KONG LTD. |
|
|
|
|
Registered Office : |
Room 2907-2908, 29/F., Windsor House, 311 Gloucester Road, Causeway Bay |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
10.01.2006 |
|
|
|
|
Com. Reg. No.: |
36614025 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Importer, Exporter and Agent of All types of microscopes for scientific use, testing equipment, surveying instruments and drafting machines, measuring equipment, vacuum insulating equipment, heavy industrial machinery and equipment. |
|
|
|
|
No. of Employees : |
20 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 12.5% of
total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese
companies constituted about 50% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China signed a new
agreement on achieving basic liberalization of trade in services in Guangdong
Province under the Closer Economic Partnership Agreement, adopted in 2003 to
forge closer ties between Hong Kong and the mainland. The new measures,
effective from March 2015, cover a negative list and a most-favored treatment
provision, and will improve access to the mainland's service sector for Hong
Kong-based companies.
|
Source
: CIA |
MOTIC HONG KONG LTD.
ADDRESS: Room 2907-2908,
29/F., Windsor House, 311 Gloucester Road, Causeway Bay, Hong Kong.
PHONE: 2837 0888
FAX: 2882 2792
E-MAIL: info@speedfair.com
MANAGEMENT:
Managing Director: Mr. Chan Pui
Yan, Stephen
Incorporated on: 10th January, 2006.
Organization: Private Limited Company.
Issued Share Capital: HK$10.00
Business Category: Manufacturer
and exporter of microscopes.
Group Turnover: RMB 305.9 million (Year ended 31-12-2014)
Employees: 20. (Hong Kong)
Main Dealing Bankers: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
MOTIC HONG KONG LTD.
Registered Head
Office:-
Room 2907-2908, 29/F., Windsor House, 311 Gloucester Road,
Causeway Bay, Hong Kong.
China
Factory:- [Operated by affiliate]
Motic Building, Torch Hi-Tech Industrial Development Zone, Xiamen,
China. [Postal: 361006]
[Tel: (86-592) 562 7866; Fax:
(86-592) 562 7855]
Holding Company:-
MIG (HK) Co. Ltd., Hong Kong.
Intermediate
Holding Company:-
Motic China Group Co. Ltd., China.
Ultimate Holding
Company:-
Motic (Xiamen) Electric Group Co. Ltd., China.
Affiliated/Associate
Companies:-
Central Base Ltd., Hong Kong.
Dragon Star Investments Ltd., Hong Kong.
Goldenluxe Ltd., Hong Kong.
Honest World Investments Ltd., British Virgin Islands.
Immortal Investment Co. Ltd., Hong Kong.
Jubilant Ltd., Hong Kong.
Kolok Enterprise Ltd., Hong Kong.
Master Plan
International Ltd., British Virgin Islands.
Motci (Guiyang) Instrument Co. Ltd., China.
Motic (Chengdu) Instrument Co. Ltd., China.
Motic (Xiamen) Medical Diagnostic Systems Co. Ltd., China.
Motic (Xiamen) Precision Optical Co. Ltd., China.
Motic (Xiamen) Sales Co. Ltd., China.
Motic Deutschland GmbH, Germany.
Motic Electric (Hong Kong) Ltd., Hong Kong. (Same address)
Motic Electric Holdings Ltd., Hong Kong.
(Same address)
Motic Electric Investments Ltd., Hong Kong. (Same address)
Motic Incorporation Ltd., Hong Kong.
(Same address)
Motic Instruments Inc., Canada.
Motic National Inc., USA.
Motic Spain S.L.U., Spain.
Nakano International Ltd., British Virgin Islands.
National Optical & Scientific Instrument Inc., US.
National Optical Investment Supply Ltd., Hong Kong.
NOSI Investments Inc., U.S.A.
Precision Moulded Polymers Ltd., Hong Kong.
RY Investment
Co. Ltd., Hong Kong.
Sanming Micro-Optic Co. Ltd., China.
Speed Fair (Xiamen) Co. Ltd., China.
Speed Fair Co. Ltd., Hong Kong.
(Same address)
Speed Fair Electro Engineering Co. Ltd., Hong Kong.
Speed Fair Investments Ltd., British Virgin Islands.
Swift Optical Instruments Inc., US.
Swift Optical Instruments Ltd., Hong Kong. [Dissolved]
Team Dragon Holdings Ltd., Hong Kong.
Treetops Industrial Ltd., British Virgin Islands.
Trojan Horse Ltd., British Virgin Islands.
Vincent Power Ltd., Hong Kong.
Xiamen Motic Software Engineering Co. Ltd., China.
Xiamen Xiangyu Speed Fair Trading Co. Ltd., China.
Motic Holdings Co. Ltd., Hong Kong.
36614025
1018467
Managing Director: Mr. Chan Pui
Yan, Stephen
HK$ 10.00
(As per registry dated 10-01-2015)
|
Name |
|
No. of shares |
|
MIG (HK) Co. Ltd., Hong Kong. |
|
10 == |
(As per registry dated 10-01-2015)
|
Name (Nationality) |
Address |
|
YEUNG Chak Sing |
Flat A, 32/F., The Signature, 8 Chun Fai Terrace, Tai Hang, Hong Kong. |
|
CHAN Ho |
Flat A, 31/F., Three Island Place, 61 Tanner Road, North Point, Hong
Kong. |
|
CHAN Pui Yan, Stephen |
Penthouse B, Block A, 5 Homantin Hill Road, Kowloon, Hong Kong. |
CHAN Ho (As per registry dated
10-01-2015)
The subject was incorporated on 10th January, 2006. as a private limited
liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Famous Hing Group
Ltd. The name was changed to the
present style on 1st March, 2007.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Manufacturer,
Importer, Exporter and Agent.
Lines: All
types of microscopes for scientific use, testing equipment, surveying instruments
and
drafting machines, measuring equipment,
vacuum insulating equipment, heavy industrial machinery and equipment.
Brand Names: PENTAX,
HEDRICH, SCHLATTER, MOTIC.
Employees: 20. (Hong Kong)
2,200. (China)
Raw Materials: Imports
precision parts from Japan and Europe.
Markets: China,
other Asian countries, Europe and US.
Group Turnover: RMB 291.9 million (Year ended 31-12-2012)
RMB 315.4 million (Year ended 31-12-2013)
RMB 305.9 million (Year ended 31-12-2014)
Terms/Sales: L/C, T/T.
Terms/Buying: As per contracted.
Issued Share Capital: HK$10.00
Mortgage or Charge:-
Date of Charge Over Securities and Deposits with the
Bank: 23-10-2014
Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit & Loss: Operation
is profitable.
Group Profit Attributable of Equity Holders:
RMB 35.2 million (year ended 31-12-2012)
RMB 44.6 million (year ended 31-12-2013)
RMB 37.6 million (year ended 31-12-2014)
Condition: Business is active and
normal.
Facilities: Making active use of general
banking facilities.
Payment: Regularly met.
Commercial Morality:
Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
Motic Hong Kong Ltd. is a wholly-owned subsidiary of MIG (HK) Co. Ltd.
which is a Hong Kong-registered company.
Its ultimate holding company Motic (Xiamen) Electric Group Co., Ltd.
[Motic Group] is a listed company in China.
The subject is trading in the products of Motic Group.
Motic Group, founded in Xiamen in 1990 and listed in the Shenzhen stock
exchange (stock code: 300341), has developed into a modern, innovative
high-tech company. It manufactures and
supplies insulation components for the electrical transmission and distribution
networks and the electrical power industry.
With over 20 years of experience in the field of high quality
insulators, Motic Electric designs, develops and manufactures insulation
components for all voltage ratings from 10kV to 550kV for use in transmission
and distribution equipment. It has grown
into the largest epoxy insulation manufacturer in China.
Motic Group masters advanced processing technologies including Automatic
Pressure Gelation (APG), Vacuum Casting (VC) and Vacuum Pressure Impregnation
(VPI). Beside standard products, Motic
Electric offers individual and customized products and solutions for medium
voltage application. The Group has more
than 500 highly skilled and dedicated employees in China.
Now the products of the group include microscope products, such as
optical microscopes, digital microscopes, microscope cameras and software, etc.
The followings are the brand names of the Group:-
Motic, National, Swift and Classica
Products are marketed in China and exported to foreign countries,
etc. Its factories are located at
Sanming City, Xiamen Special Economic Zone, Chengdu City and Guiyang City.
For the year ended 31 December, 2014, the turnover of the Motic Group
amounted to RMB 305.9 million (2013: RMB 315.4 million), decreased by 3.1% as
compared with previous year. Its profit
attributable of equity holders was RMB 37.6 million (2013: RMB 44.6 million),
decreased by 15.7% as compared with previous year.
The subject is fully supported by Motic Group. History in Hong Kong is over nine years and
six months.
On the whole, consider the subject good for
normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.93 |
|
|
1 |
Rs.99.82 |
|
Euro |
1 |
Rs.70.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.