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Report No. : |
338249 |
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Report Date : |
25.08.2015 |
IDENTIFICATION DETAILS
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Name : |
KEDA INDUSTRIAL
(HONG KONG) LTD. |
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Registered Office : |
Room 2104, 21/F., Austin Plaza, 83 Austin Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
26.10.2006 |
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Com. Reg. No.: |
37321334 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of machinery and equipment |
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No of Employees : |
08 (Including associates) 3,803 (Group) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
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 |
KEDA INDUSTRIAL
(HONG KONG) LTD.
Room 2104, 21/F., Austin Plaza, 83 Austin Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2417 1739, 2866 6933
FAX: 852-2866 6166
E-MAIL: hkkeda@netvigator.com
Managing Director: Mr. Zeng Fei
Incorporated on: 26th October, 2006.
Organization: Private Limited Company.
Issued Share Capital: HK$78,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Operating Income: RMB3,811.9 million Yuan (Year ended 31-12-2013)
Employees: 8. (Including associates)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 2104, 21/F., Austin Plaza, 83 Austin Road, Tsimshatsui, Kowloon, Hong Kong.
Holding Company:-
Keda Clean Energy Co. Ltd. [Formerly known as Keda Industrial Co. Ltd.]
1 Huanzhen Xi Road, Guanglong Industrial Zone, Chencun, Shunde, Foshan, Guangdong, China.
[Tel: 86-757-2383 2929, 2383 2922
Fax: 86-757-2383 2690
E-mail: ied@kedachina.com.cn ]
Affiliated/Associated
Companies:-
Anhui Xincheng Financial Leasing Co. Ltd., China.
Champ Will Development Ltd., Hong Kong. (Same address)
Foshan Henglitai Machinery Co. Ltd., China.
Foshan Keda Hydraulic Machinery Co. Ltd., China.
Foshan Keda Steel Machine Works, China.
Great Champ International Trading Ltd., Hong Kong. (Same address)
Guangdong Teckwin Ceramic Digital Printing Co. Ltd., China.
Guangdong Xincheng Financial Lease Co. Ltd., China.
Henan Neutl Metallurgical Science & Technology Co. Ltd., China.
Jiangyin Tianjiang Pharmaceutical Co. Ltd., China.
Keda Clean Energy (Ma’anshan) Co. Ltd., China.
Keda Industrial (Ma’anshan) Ltd., China.
Keda Stone Machinery Co. Ltd., China.
Shenyang Keda Clean Energy Gas Co. Ltd., China.
Shunde Keda Ceramics Machinery Co. Ltd., China.
Wuhu Suremaker Machinery Co. Ltd., China.
Xincheng Internationjal
Financial Leasing Co. Ltd., Hong Kong.
(Same address)
37321334
1083119
Managing Director: Mr. Zeng Fei
HK$78,000,000.00
(As per registry
dated 26-10-2014)
|
Name |
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No.
of shares |
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Keda Clean Energy Co. Ltd. 1 Huanzhen Xi Road, Guanglong Industrial Zone, Chencun, Shunde,
Foshan, Guangdong, China. |
|
78,000,000 ======== |
(As per registry
dated 26-10-2014)
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Name (Nationality) |
Address |
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LI Zhiqing |
Room 1906, Block D, 66 Tongji Road,
Chan Cheng District, Foshan, Guangdong, China. |
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WU Muhai |
19#, 5 Jie, Cui Hu Pan 2 Qu,
Bi Gui Hua Cheng, Chencun, Shunde, Foshan, Guangdong, China. |
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ZENG Fei |
Guangdong Sheng Foshan Shi, Shunde
Qu Chencun Zhen, Hecheng Lu Songyuan Xinchen, Junjing Haoting G Zuo 401,
China. |
(As per registry
dated 26-10-2014)
|
Name |
Address |
Co.
No. |
|
H & R Block (HK) Ltd. |
Room 504, 5/F., Tung Wai Commercial Building, 109-111 Gloucester
Road, Wanchai, Hong Kong. |
0113523 |
The subject was incorporated on 26th October, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject increased its issued share to HK78 million on 18th July, 2011.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of machinery and equipment.
Employees: 8. (Including associates)
3,803. (Group)
Commodities Imported: India, China.
Markets: Other Asian countries, Europe.
Group Operating
Income:-
RMB2,492.5 million Yuan (Year ended 31-12-2011)
RMB2,660.6 million Yuan (Year ended 31-12-2012)
RMB3,811.9 million Yuan (Year ended 31-12-2013)
RMB2,614.8 million Yuan (9 months ended 30-09-2013)
RMB3,345.7 million Yuan (9 months ended 30-09-2014)
Terms/Sales: L/C, T/T.
Terms/Buying: L/C, T/T.
Issued Share Capital: HK$78,000,000.00
Profit or Loss: Making a profit every year.
Group Profit
Attributable to Shareholders:-
RMB356.1 million Yuan (Year ended 31-12-2011)
RMB273.3 million Yuan (Year ended 31-12-2012)
RMB370.2 million Yuan (Year ended 31-12-2013)
RMB291.8 million Yuan (9 months ended 30-09-2013)
RMB398.1 million Yuan (9 months ended 30-09-2014)
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Good.
Having issued 78 million ordinary share of HK$1.00, Keda Industrial (Hong Kong) Ltd. is wholly-owned by Keda Clean Energy Co. Ltd. [Keda/Formerly known as Keda Industrial Co. Ltd.] which is a China-based firm. All the directors of the subject are China merchants residing in Guangdong Province, China.
The subject is one of the trading arms of Keda which is a machinery and equipment trader. Keda is in Shunde District, Foshan City, Guangdong Province, China.
Keda is a listed firm in Shanghai bearing stock code 600499. It has had a main factory in Foshan City, Guangdong Province, China known as Foshan Keda Steel Machine Works which was set up in December 1982.
Keda is a listed firm in Shanghai bearing stock code 600499. It has had a main factory in Foshan City, Guangdong Province, China known as Foshan Keda Steel Machine Works which was set up in December 1982. Keda is principally engaged in the manufacture and sale of machinery products. Its machinery products include ceramics machinery, energy resource machinery, stone processing machinery and building material processing machinery. The ceramics machinery products include cloth processing machine, turn over machine, desiccator, drying apparatus, furnace, buffing machine, edge grinding machine, testing equipment, stacking apparatus. It also manufactures clean coal gasification machinery and others. Keda’s products are marketed in China and exported to overseas markets.
As of 31st December, 2013, Keda had a number of subsidiaries/associates, primarily engaged in the provision of stone machinery, new energy machinery and construction ceramics machinery, machinery and equipment leasing, among others.
The subject is managed by Mr. Zhen Fei who is a China businessman.
For the year ended 31st December, 2013, the principal operating revenue of Keda was RMB3,811.9 million Yuan (2012: RMB2,660.6 million Yuan); profit attributable to shareholders was RMB370.2 million Yuan for the year (2012: RMB273.3 million Yuan).
For the nine months ended 30th September, 2014, the principal operating revenue of Keda was RMB3,345.7 million Yuan (same period of 2013: RMB2,614.8 million Yuan); profit attributable to shareholders was RMB398.1 million Yuan for the period (same period of 2013: RMB291.8 million Yuan).
Currently, Keda has had distributors or agents in the following countries: Taiwan, India, Vietnam, Thailand, Indonesia, Malaysia, North Korea, Iran, Turkey, Egypt, Russia, the United Arab Emirates, etc. The business of Keda is rather active and steady.
In the years ahead, the subject will expand its overseas business according to the strategies of Keda.
The subject’s history in Hong Kong is over eight years and four months.
On the whole, supported by Keda, the subject is considered good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.51 |
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|
1 |
Rs.104.00 |
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Euro |
1 |
Rs.76.27 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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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 |
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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 |
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<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.