MIRA INFORM REPORT
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Report No. : |
336201 |
|
Report Date : |
13.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
KK FOOD TRADING COMPANY LIMITED |
|
|
|
|
Registered Office : |
Unit B, 14/F CNT Commercial Building, No. 302 Queen's Road Central |
|
|
|
|
Country : |
Hong Kong
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|
|
|
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Date of Incorporation : |
12.05.1989 |
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|
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Com. Reg. No.: |
252210 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business : |
Trading of Frozen Seafood. |
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|
|
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No. of Employees : |
About 10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Exist |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
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 |
Contact Points
|
Company Name: |
KK FOOD TRADING COMPANY LIMITED |
|
Supplied Name: |
K K FOOD TRADING CO LTD |
|
Trading Address: |
Unit B, 14/F CNT
Commercial Building, No. 302 Queen's Road Central, Hong Kong |
|
Supplied Address: |
14/F, Cnt Commercial Building 302 Queen's Road Central-Sheung Wan Hong
Kong |
Note: The exact name
and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit B, 14/F CNT Commercial
Building, No. 302 Queen's Road Central, Hong Kong |
|
Telephone Number: |
+852-2511-0600 |
|
Fax Number: |
+852-2827-2031 |
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Date of Registration: |
1989-5-12 |
|
Registered Number: |
252210 |
|
Business Registration No.: |
12747951 |
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Paid-up Capital: |
HKD 12,000,000 (USD 1,548,000) = 1,200,000
Shares @ HKD 10 (As of 2015.8, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
03418--Other Fish, Fresh or Chilled, Not Minced
and Not In Fillets (Excluding Livers and Roes) (KG) |
|
Principal Activities: |
Trading of frozen seafood. |
|
Staff: |
About 10 employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-5-12 |
History
Subject was incorporated on 1989-5-12 with the
registered number 252210 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Related Company
|
Name: |
|
|
Address: |
14/F., CNT Commercial Building, No. 302 Queen's
Road Central, Hong Kong |
|
Tel: |
+852-2511-0600 |
|
Fax: |
+852-2827-2031 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Joern Kreyenhop |
400,000 |
33.33% |
|
Tom Gerrit Kreyenhop |
400,000 |
33.33% |
|
Rolf Kreyenhop |
200,000 |
16.67% |
|
Antje Kreyenhop |
200,000 |
16.67% |
|
Total |
1,200,000 |
100% |
Major Shareholder Information:
|
1 |
|
|
Joern Kreyenhop |
|
|
Address: |
EEKENHOEGE 18, 28355 Bremen, Germany |
|
2 |
|
|
Name: |
Tom Gerrit Kreyenhop |
|
Address: |
Scharnhorststrasse 1994, 28211 Bremen,
Germany |
|
Name: |
Rolf Kreyenhop |
|
Address: |
Rockwinkeler Heerstr. 110B, 28355 Bremen,
Germany |
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4 |
|
|
Name: |
Antje Kreyenhop |
|
Address: |
Rockwinkeler Heerstr. 110B, 28355 Bremen,
Germany |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Joern Kreyenhop |
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Address: |
EEKENHOEGE 18, 28355 Bremen, Germany |
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Position: |
Director |
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ID Number: |
K861913(1) |
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Passport Number: |
CH2P692FM |
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Issuing Country: |
Germany |
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2 |
|
|
Name: |
KLINDWORT STEFAN |
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Address: |
Flat C, 29/F., Block 2, Coastal Skyline, No.
12 Tung Chung Waterfront road, Tung Chung, NT. Hong Kong |
|
Position: |
Director |
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ID Number: |
R625833(5) |
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Passport Number: |
C4KRYML7G |
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Issuing Country: |
Germany |
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3 |
|
|
Name: |
Tom Gerrit Kreyenhop |
|
Address: |
Scharnhorststrasse 1994, 28211 Bremen,
Germany |
|
Position: |
Director |
|
Passport Number: |
CH2F6GY2Z |
|
Issuing Country: |
Germany |
|
4 |
|
|
Name: |
Vantop Limited |
|
Address: |
5E, G/F., Grampian Road, Kowloon City,
Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
387708 |
Personnel Structure
|
Total Employees |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Unit B, 14/F CNT Commercial Building, No.
302 Queen's Road Central, Hong Kong |
Premises Information
Office address:
|
Address: |
Unit B, 14/F CNT Commercial Building, No.
302 Queen's Road Central, Hong Kong |
|
Owners: |
KK Food Trading Company Limited |
|
Memorial Number: |
10022502380040 |
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Date of Instrument: |
2010-2-1 |
|
Date of Registration: |
2010-2-25 |
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Consideration Value: |
HKD 3,450,000 |
Production Information
Subject is a trader of frozen seafood, etc.
without any production activities.
Purchase Information
Subject purchases its products from both home
and abroad, such as canned foodstuffs from Mainland China, frozen seafood from
Indonesia and Mainland China.
Sales Information
Subject is engaged in trading of frozen
seafood.
Subject’s major products are canned
foodstuffs, frozen seafood and food ingredients.
Subject’s products are mainly applied to food
processing industry.
It is introduced that subject has sales
offices in Xiamen and Qingdao of Mainland China.
Subject’s major types of customers are food
processors and dealers of food.
Settlements
Purchase
Domestic Purchase
|
Products |
Frozen seafood |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Frozen seafood |
|
Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Frozen seafood |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Frozen seafood |
|
Selling Terms |
L/C, T/T |
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
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
|
2005-7-25 |
|
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Court Name: |
|
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Court No.: |
3525 |
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Claimant: |
KK Food Trading Co Ltd |
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Defendant: |
Mori Industrial Co Ltd |
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Reason: |
Breach of Contrct |
Mortgage Record
|
Company Name: |
KK Food Trading Company Limited |
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Date of Creating Mortgage: |
2010-7-30 |
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Name of Mortgagee: |
Deutsche Bank Aktiengesellschaft |
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Address of Mortgagee: |
52/F., Cheung Kong Center, 2 Queen’s Road
Central, Hong Kong |
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 |
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High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special Note
Interview Details
|
Name |
Ms. Wu |
|
Department: |
Sales Department |
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Email: |
Industry Information
03418--Other Fish, Fresh or Chilled, Not
Minced and Not In Fillets (Excluding Livers and Roes) (KG)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
France |
11,682 |
1,734 |
58,840 |
8,864 |
|
Indonesia |
6,100 |
729 |
31,440 |
3,103 |
|
India |
23,656 |
515 |
374,863 |
8,155 |
|
Italy |
983 |
123 |
6,471 |
948 |
|
Japan |
134,132 |
20,444 |
584,365 |
92,755 |
|
Korea |
783 |
75 |
10,347 |
4,265 |
|
Philippine |
43,693 |
4,215 |
140,712 |
12,786 |
|
Thailand |
12,680 |
889 |
51,120 |
3,643 |
|
USA |
108,294 |
2,399 |
541,504 |
11,525 |
|
The Mainland of China |
772,722 |
6,566 |
3,858,430 |
43,225 |
|
Exports |
||||
|
Canada |
1,800 |
44 |
9,491 |
239 |
|
Macau |
798 |
166 |
3,188 |
567 |
|
USA |
450 |
16 |
22,144 |
373 |
|
Vietnam |
107,000 |
1,000 |
212,000 |
2,461 |
|
The Mainland of China |
-- |
-- |
1,667 |
87 |
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: Unit B, 14/F CNT
Commercial Building, No. 302 Queen's Road Central, Hong Kong
CNT Commercial Building, No. 302 Queen's Road
Central, Hong Kong
14/F CNT Commercial Building, No. 302 Queen's
Road Central, Hong Kong
Unit B, 14/F CNT Commercial Building, No. 302
Queen's Road Central, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.83 |
|
|
1 |
Rs.101.00 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.