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Report No. : |
335426 |
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Report Date : |
12.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALCOA
INTERNATIONAL (ASIA) LTD. |
|
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Registered Office : |
27/F., 88 Hing Fat Street, Causeway Bay |
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Country : |
Hongkong |
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Date of Incorporation : |
12.09.1963 |
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Com. Reg. No.: |
01561754 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of
Packaging Materials. |
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No. of Employees : |
18 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 12.5% 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 |
ALCOA
INTERNATIONAL (ASIA) LTD.
ADDRESS: 27/F.,
88 Hing Fat Street, Causeway Bay, Hong Kong.
PHONE: 852-2529
2333
FAX: 852-2529
2322
Managing Director:
Ms. Ngai Choi Fung, Phoebe
Incorporated on: 12th September, 1963.
Organization: Private Limited Company.
Issued Share Capital: HK$12,500,000.00
Business Category: Importer,
Exporter and Wholesaler.
Group Sales: US$23,906 million (Year ended 31-12-2014)
Employees: 18.
Group Employees: 59,000.
(As at 31-12-2014)
Main Dealing Banker: The
Hongkong and Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
Registered Head
Office:-
27/F., 88 Hing Fat Street, Causeway Bay, Hong Kong.
Business Name:-
Alcoa Fastening Systems Hong Kong, Hong Kong. (Same address)
Holding Company:-
Alcoa International Holdings Company, USA.
Ultimate Holding
Company:-
Alcoa Inc.
201 Isabella Street, Pittsburgh, PA 15212-5858, USA.
[Tel: 1-412-553-4545;
Fax: 1-412-553-4498]
Associated
Companies:-
Alcoa Group of Companies
ACC-Norway LLC, USA.
Alcoa (China) Investment Co. Ltd., China.
Alcoa à Íslandi ehf, Iceland.
Alcoa Alumínio S.A., Brazil.
Alcoa Aluminum Deutschland Inc., USA.
Alcoa Australia Rolled Products Pty. Ltd., Australia.
Alcoa Australian Holdings Pty. Ltd., Australia.
Alcoa Canada Ltd., Canada.
Alcoa Domestic LLC, USA.
Alcoa Fjaroaál sf., Iceland.
Alcoa Global Fasteners Inc., USA.
Alcoa GmbH, Germany.
Alcoa Holding France SAS, France.
Alcoa Holding GmbH, Germany.
Alcoa Inespal S.A., Spain.
Alcoa Inversiones España S.L., Spain.
Alcoa Inversiones Internacionales S.L., Spain.
Alcoa Ltd., Canada.
Alcoa Luxembourg S.à.r.l., Luxembourg.
Alcoa Manufacturing (G.B.) Ltd., UK.
Alcoa Nederland B.V., Netherlands.
Alcoa Norway ANS, Norway.
Alcoa of Australia Ltd., Australia.
Alcoa Power Generating Inc., USA.
Alcoa Rus Investment Holdings LLC, Russia.
Alcoa Securities Corporation, USA.
Alcoa Servizi S.r.L., Italy.
Alcoa Transformazioni S.r.L., Italy.
Alcoa UK Holdings Ltd., UK.
Alcoa World Alumina Brasil Ltda, Brazil.
Alcoa World Alumina LLC, USA.
Alcoa-Köfém Kft., Hungary.
Alcoa-Lauralco Management Company, Nova Scotia.
Alumax Inc., USA.
Alumax Mill Products Inc., USA.
Alúmina Española S.A., Spain.
Aluminerie Lauralco Inc., USA.
Alúminio Español S.A., Spain.
Cordant Technologies Holding Company, USA.
Estreito Energia S.A., Brazil.
Howmet Castings and Services Inc., USA.
Howmet Corporation, USA.
Howmet Holdings Corporation, USA.
Howmet International Inc., USA.
Howmet SAS, France.
Huck International Inc., USA.
Laqmar Quebec G.P., Canada.
Norsk Alcoa AS, Norway.
Norsk Alcoa Holdings AS, Norway.
Reynolds Bécancour Inc., USA.
Reynolds International Inc., USA.
Reynolds Metals Company, USA.
RMCC Company, USA.
ZAO Alcoa Metallurg Rus, Russia.
ZAO Alcoa SMZ, Russia.
etc.
01561754
0009238
Managing Director:
Ms. Ngai Choi Fung, Phoebe
HK$12,500,000.00
(As per registry dated 12-09-2014)
|
Name |
|
No. of shares |
|
Alcoa International Holdings Company 5 Burlington Square, Burlington, Vermont 05402-1491,
USA. |
|
1,249,999 |
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Alcoa Inc. Alcoa Building, Pittsburgh, Pennsylvania 15219, USA. |
|
1 |
|
|
|
–––––––– |
|
|
Total: |
1,250,000 ======= |
(As per registry dated 22-04-2015)
|
Name (Nationality) |
Address |
|
NGAI Choi Fung, Phoebe |
Flat F, 10/F., Block 5, Sausalito, Ma On Shan, Hong
Kong. |
|
QI Liping |
1615 Oakleaf LN, Pittsburgh PA 15237, US. |
|
MO Yin Ling |
Room 3308, 33/F., Mei Tin House, Hing Tin Estate,
Kowloon, Hong Kong. |
(As per registry dated 12-09-2014)
|
Name |
Address |
Co. No. |
|
Wilgrist Nominees Ltd. |
Room 601, 6/F., Prince’s Building, Chater Road,
Central, Hong Kong. |
0017249 |
The subject was
incorporated on 12th September, 1963 as a private limited liability company
under the Hong Kong Companies Ordinance.
Formerly the subject was
located at 10/F., 88 Gloucester Road, Wanchai, Hong Kong, moved to the
present address with effect from 3rd January, 2015.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of packaging materials.
Employees: 18.
Group Employees: 59,000. (As at 31-12-2014)
Materials/Commodities: Imports raw materials from European countries,
some Asian countries and finished
products from China.
Markets: Southeast
Asia, Japan, South Korea, North, Central and South America, Europe, etc.
Group Sales: US$21,013
million (Year ended 31-12-2010)
US$24,951
million (Year ended 31-12-2011)
US$23,700
million (Year ended 31-12-2012)
US$23,032 million (Year ended 31-12-2013)
US$23,906
million (Year ended 31-12-2014)
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Issued Share Capital: HK$12,500,000.00
Group Net Income/(Loss): US$ 254 million (Year
ended 31-12-2010)
US$ 611 million (Year
ended 31-12-2011)
US$ 191 million (Year
ended 31-12-2012)
(US$2,285 million) (Year ended 31-12-2013)
US$ 268 million (Year
ended 31-12-2014)
Profit or Loss: Group
business was profitable in 2014.
Condition: Business is
normal.
Facilities: Making active
use of general banking facilities.
Payment: Regularly met.
Commercial Morality:
Satisfactory.
Bankers:-
The Hongkong and
Shanghai Banking Corp. Ltd., Hong Kong.
Citibank N.A., Hong Kong
Branch.
Standing: Normal.
Alcoa International
(Asia) Ltd. is a wholly-owned subsidiary of Alcoa International Holdings
Company which is a US-based firm. The
subject’s ultimate holding company is Alcoa Inc. [Alcoa], which is a listed
firm in the United States, is the holding company of the Alcoa Group. Its shares are traded in New York Stock
Exchange.
The business name of the subject is Alcoa Fastening
Systems Hong Kong.
Currently, the subject is manufacturing the following
commodities and offering clients with the following services:-
|
Product/Service |
Product/Service
Remarks |
|
Raw Materials |
|
|
Non-Ferrous Metal |
|
|
Aluminium |
From USA,
Australia, Western Europe, South America (Exporter) From USA, Australia,
Western Europe, South America (Importer) |
|
Packaging Materials |
|
|
Packaging Materials
– Miscellaneous |
|
|
Aluminium Foil |
Aluminium foil from
USA, Australia, Western Europe, South America (Importer) Aluminium foil from
USA, Australia, Western Europe, South America (Exporter) OEM (Manufacturer) |
Alcoa is the world
leader in the production and management of primary aluminium, fabricated
aluminium, and alumna combined, through its active and growing participation in
all major aspects of the industry: technology, mining, refining, smelting,
fabricating, and recycling. Aluminium is
a commodity that is traded on the London Metal Exchange (LME) and priced daily. AlAluminiumnd alumna represent more than 80%
of Alcoa’s revenues, and the price of aluminium influences the operating
results of Alcoa. Non-aluminium products
include precision castings and aerospace and industrial fasteners. Alcoa’s products are used worldwide in
aircraft, automobiles, commercial transportation, packaging, building and
construction, oil and gas, defence, consumer electronics, and industrial
applications.
Alcoa is a global
company operating in 30 countries.
For the year ended
31st December, 2012, the sales of the Group amounted to US$23,906 million,
increased by 3.8% as compared with US$23,032 million in FY 2013; net income was
US$268 million as compared with a net loss of US$2,285 million in FY 2013.
Looking ahead over
the next two years, the management of the Group will focus on the 2016 strategic
targets that were set at the end of 2013.
These targets include lowering Alcoa’s refining and smelting operations
on the respective global cost curves to the 21st (from 27th) and 38th (from
43rd) percentiles, respectively.
Additionally, the targets include driving revenue growth, while
improving margins that meet or exceed historical levels, in the midstream
(increase of US$1,000) and downstream (increase of US$1,200) operations, of
which 90% and 75%, respectively, is expected to be generated from innovation
and share gains.
Total worldwide
employment at year-end 2014 of the Group was approximately 59,000 employees in
30 countries. About 37,000 of these employees are represented by labour unions.
The subject is fully
supported by the Group.
On the whole, in view
of the parentage of the subject, consider it good for normal business
engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.17 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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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 |
|
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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 |
|
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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 |
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|
-- |
NB |
New Business |
-- |
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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.