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Report No. : |
306345 |
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Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
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Name : |
RASTAR (HK) INDUSTRIAL CO. LTD. |
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Registered Office : |
Unit 1, 5/F., |
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Country : |
Hongkong |
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Date of Incorporation : |
29.08.2005 |
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Com. Reg. No.: |
35966336 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
MANUFACTURER,
IMPORTER, EXPORTER AND WHOLESALER OF ALL KINDS OF MODEL CARS. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRAs 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 December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hongkong |
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 |
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 |
RASTAR (HK)
INDUSTRIAL CO. LTD.
ADDRESS: Unit 1, 5/F.,
Concordia Plaza, 1 Science Museum Road, Tsimshatsui East, Kowloon,
Hong Kong.
PHONE: 852-3590 4300
FAX: 852-3590 5100
E-MAIL: market@rastar.hk, sales19@rastar.cn
Managing Director: Mr. Chen Yansheng
Incorporated on: 29th August, 2005.
Organization: Private Limited
Company.
Issued Share Capital: HK$40,445,000.00
Business Category: Manufacturer,
Importer, Exporter and Wholesaler.
Group Turnover: RMB2,219,177,287.83 Yuan (Year ended 31-12-2013)
Employees: 10.
Main Dealing Banker: Bank of
Communications Co. Ltd., Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit 1, 5/F., Concordia Plaza, 1 Science Museum Road, Tsimshatsui East,
Kowloon, Hong Kong.
Business Name:-
Rastar, Hong Kong. (Same address)
China Factory:-
Guangdong Xinghui Plastic Industry Co. Ltd.
Building 14, Guangfeng Industrial Zone, Guang Yi Jie Dao Deng Feng Road,
Chenghai District, Shantou SEZ, China.
[Tel: 86-754-8589 5700
Fax: 86-754-8589 7078
E-mail: sales@rastar.cn]
Holding Company:-
Rastar Group, China. [Formerly
known as Xinghui Auto Model Co. Ltd.]
Associated
Companies:-
Fujian Xinghui Auto Model Manufacturing Co.
Ltd., China.
Fujiang Xinghui Baby Supplies Co. Ltd.,
China.
Guangdong Rastar Synthetic Material Co.
Ltd., China.
Guangdong Xinghui Teamtop Interactive
Entertainment Co. Ltd., China.
[Formerly known as Guangdong Teamtop Information Technology Co. Ltd.]
Guangzhou Cooguosoft Co. Ltd., China.
Guangzhou Shuye Environmental Technology Co.
Ltd., China.
Rastar Synthetic Material (HK) Co. Ltd.,
Hong Kong.
Shenzhen Xinghui Auto Model Co. Ltd., China.
35966336
0992685
Managing Director: Mr. Chen Yansheng
HK$40,445,000.00
(As per registry
dated 29-08-2014)
|
Name |
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No. of shares |
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Rastar Group Xinghui Industrial Park, Xiadao Road, Shanghua, Chenghai, Shantou,
Guangdong, China.. |
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40,445,000 ======== |
(As per registry
dated 29-08-2014)
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Name (Nationality) |
Address |
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CHEN Yansheng |
Guang Yi Guangfeng Industrial Zone, Chenghai Qu, Shantou City, China. |
(As per registry
dated 29-08-2014)
|
Name |
Address |
Co. No. |
|
Techson Consultants Ltd. |
Room 813, 8/F., Tai Yau Building, 181 Johnston Road, Wanchai, Hong
Kong. |
0533209 |
The subject was incorporated on 29th August, 2005 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1206A, 12/F., Tower 2,
Cheung Sha Wan Plaza, 833 Cheung Sha Wan Road, Kowloon, Hong Kong, moved
to the present address in September 2009.
The subject increased its issued share capital substantially in late
2013.
Apart from these, neither material change nor amendment has been ever traced
and noted.
Activities: Manufacturer,
Importer, Exporter and Wholesaler.
Lines: All kinds of model
cars.
Brand Name: RASTAR.
Employees: 10.
Materials/Commodities: Imports raw materials from European countries,
some Asian countries and finished products from China.
Markets: China, other Asian
countries, Australia, Europe, North America, South America, etc.
Group Turnover: RMB 233,288,316.27 Yuan (Year ended 31-12-2009)
RMB
324,501,012.25 Yuan (Year ended
31-12-2010)
RMB
444,315,802.03 Yuan (Year ended
31-12-2011)
RMB1,118,434,208.11 Yuan (Year ended 31-12-2012)
RMB2,219,177,287.83 Yuan (Year ended 31-12-2013)
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P,
etc.
Issued Share Capital: HK$40,445,000.00
Indebtedness: HK$6,614,400.00 (Total amount outstanding on all mortgages
and charges as per last Annual Return dated 29-08-2014)
Mortgage or Charge:-
Date of Mortgage: 09-06-2009
Amount: General banking
facilities
Property: 3,711/1,000,000th parts
or shares of and in Kowloon Inland Lot No. 10999 (Unit 1 on 5/F. of
Greenfield Tower, Concordia Plaza, 1 Science Museum Road, Kowloon, Hong Kong.)
Mortgagee: Bank of
Communications Co. Ltd., Hong Kong Branch.
Group Net Profit: RMB 39,065,498.92 Yuan (Year ended 31-12-2009)
RMB
55,845,129.03 Yuan (Year ended
31-12-2010)
RMB
81,117,712.36 Yuan (Year ended
31-12-2011)
RMB107,259,998.68 Yuan (Year ended 31-12-2012)
RMB134,256,009.21 Yuan (Year ended 31-12-2013)
Profit or Loss: Making a small
profit every year.
Condition: Keeping in an
active manner.
Facilities: Making active use
of general banking facilities.
Payment: Met trade
commitments on time.
Commercial Morality: Satisfactory.
Banker: Bank of
Communications Co. Ltd., Hong Kong Branch.
Standing: Normal.
Rastar (HK) Industrial Co. Ltd. is wholly-owned by Rastar Group
[Formerly known as Xinghui Auto Model Co. Ltd./Xinghui] which is a listed firm
in Shenzhen Special Economic Zone, China.
Its code number is 300043.
The managing director of the subject Mr. Chen Yansheng is a China
merchant residing in China.
The subject is engaged in marketing all kinds of model cars, toys, giftware,
raw materials for manufacturing model cars, etc. It is also the sales division of Rastar Group
in Hong Kong. The business name of the
subject is Rastar.
The subject has had an associated factory in Shenzhen Special Economic
Zone, China which is engaged in manufacturing toy cars.
The subjects factory is known as Guangdong Xinghui Plastic Industry Co.
Ltd.
The China factory, with 8,000 sq.m. of building area, was set up in 2000
in Chenghai, Shantou SEZ, China. It is
engaged in manufacturing the following products:-
·
Radio-Controlled Scale Car;
Die-Cast Toy Car;
Baby Car Seat;
Remote-Controlled Toy Car;
&
General Toy Car.
The China factory is a licensee to launch 198 items from 21 world famous
motor vehicle brands. Products are
exported to over 46 countries and regions.
Its brand name RASTAR has been registered in Mainland China and
32 main export markets including EEC, Japan, the United States, Australia,
Singapore, Korea, Hong Kong, etc.
The China factory is a professional manufacturer and exporter of toy
cars. The following are some of the
brands carried: BMW, Lincoln, Honda, Nissan, Volvo, Toyota, Peugeot, Land Rover, Mitsubishi Motors, Mini, Jaguar, Infiniti, Ford, Lamborghini, Volkswagen, etc.
Rastar Group is engaged in online games run on mobile phones, tablets,
etc. This is the core business of the
Group while its toy cars manufacturing will become its side line business.
The China factory is ISO9001 certified.
For the year ended 31st December, 2013, the sales of the Group amounted
to RMB2,219.2 million Yuan, grew by 98.4% as compared with RMB1,118.4 million
Yuan in FY 2012; net profit was RMB134.3 million Yuan, grew by 25.2% as
compared with RMB107.3 million Yuan in FY 2012.
Now, the Group has set up a number of subsidiaries and associated
companies in China.
In October 2013, the Group acquired 100% interests of Guangdong Xinghui Teamtop Interactive Entertainment Co. Ltd.
at a consideration of RMB812 million Yuan.
This company is engaged in providing online games. Its business territories cover Taiwan, Japan,
other Asian countries, Europe, North America, etc.
Mr. Chen Yansheng is also the president of Rastar Group. As at end of 2013, Xinghui had 2,252
employees.
The subject is fully supported by Rastar Group.
The subject operates from its own premises in Hong Kong. History in Hong Kong is over nine years
and five months.
On the whole, consider it good for normal business engagements.
Property information of the company:-
Property Location: Unit 1
on 5/F. of Greenfield Tower, Concordia Plaza,
1 Science Museum Road, Kowloon, Hong Kong.
Owner: Rastar (HK)
Industrial Co. Ltd.
Date of Purchase: N.A.
Purchased Price: N.A.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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09-06-2009 |
- |
Bank of Communications Co. Ltd., Hong Kong Branch. |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
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|
1 |
Rs.94.72 |
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Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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 SCs 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.