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Report No. : |
300312 |
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Report Date : |
05.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ROGERS SOUTHEAST ASIA, INC. |
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Registered Office : |
c/o Tricor Services Ltd. Level 54, Hopewell Centre, 183 Queen’s Road East |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.05.1995 |
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Com. Reg. No.: |
19003746 |
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Legal Form : |
Limited Company |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF FOAMS, PC MATERIALS,
POWER ELECTRONIC |
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No. of Employee : |
1 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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.
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Source
: CIA |
ROGERS SOUTHEAST
ASIA, INC.
ADDRESS: c/o Tricor
Services Ltd.
Level 54, Hopewell
Centre, 183 Queen’s Road East, Hong Kong.
PHONE: 852-2980
1888
FAX: 852-2956
2192
E-MAIL: Isabel.yee@rogerscorporation.com
Authorized Representative: Mr.
Yee Siu Tong Isabel
Registered in Hong Kong on: 9th May, 1995. (Non-Hong Kong
Company)
Organization: Limited
Company.
Issued Share Capital: US$100.00
Business Category: Importer,
Exporter and Wholesaler.
Group Net Sales: US$537.5 million
(Year ended 31-12-2013)
Employee: 1.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good
ROGERS SOUTHEAST
ASIA, INC.
Registered
Office:-
2711 Centerville Road, Suite 400 Wilmington, DE 19808, USA.
Hong Kong
Principal Place of Business:-
Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong.
Holding Company:-
Rogers Corporation, USA.
Associated
Companies:-
Curamik Electronics GmbH, Germany.
Rogers (UK) Ltd., UK.
Rogers Asia Holding Co. Ltd., Hong Kong.
Rogers Benelux Sarl, Luxembourg.
Rogers BVBA, Belgium.
Rogers Germany GmbH, Germany.
Rogers Hungary KFT, Hungary.
Rogers Japan Inc., Japan.
Rogers KF Inc., Korea.
Rogers Korea Inc., South Korea.
Rogers Luxembourg Sarl, Luxembourg.
Rogers New Territories Corporation Ltd., Hong Kong.
Rogers Pacific Ltd., Hong Kong.
Rogers Shanghai International Trading Co. Ltd. Beijing Branch, China.
Rogers Shanghai International Trading Co. Ltd. Shenzhen Branch, China.
Rogers Shanghai International Trading Co. Ltd., China.
Rogers Taiwan Inc., Taiwan.
Rogers Technologies (Singapore) Inc., Singapore.
Rogers Technology (Suzhou) Co. Ltd., China.
Rogers Worldwide LLC, USA.
Utis Co. Ltd., Korea.
World Properties Inc., USA.
19003746
F0007095
Name: Mr. Yee Siu Tong Isabel
Address: Flat H, 24/F., Block 3, City
One, Shatin, New Territories, Hong Kong.
US$100.00
(As per registry
dated 19-05-2014)
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Name (Nationality) |
Address |
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David MATHIESON |
100 Wayland Avenue, Apt. 6, Providence RI 02906-4360, United States of
America. |
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Robert John MC CARD |
101 Bares Hill Road, Burlington CT 06013, United States of America. |
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Bruce David HOECHNER |
1406 Silo Road, Yardley PA 19067, United States of America. |
Robert John MC CARD (As per registry
dated 09-05-2014)
Roger Southeast Asia, Inc. was incorporated in the United States of America as a limited company. It has established a principal place of
business in Hong Kong and was registered on 9th May, 1995 as a Non Hong
Kong company.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Foams,
PC materials, Power electronic, etc.
Employee: 1.
Commodities Imported: China,
other Asian countries, etc.
Markets: Asian
countries, Europe, etc.
Group Net Sales: US$286.8
million (Year ended 31-12-2009)
US$373.2
million (Year ended 31-12-2010)
US$548.3
million (Year ended 31-12-2011)
US$498.8 million (Year ended 31-12-2012)
US$537.5
million (Year ended 31-12-2013)
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Issued Share Capital: US$100.00
Group Income/(Loss): (US$59.2
million) (Year ended 31-12-2009)
US$38.6
million (Year ended 31-12-2010)
US$44.3 million (Year ended 31-12-2011)
US$69.1
million (Year ended 31-12-2012)
US$37.7
million (Year ended 31-12-2013)
Profit or Loss: Group
business was profitable in past four years.
Condition: Keeping in an active manner.
Facilities: Making
rather active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Good.
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Good.
Roger Southeast Asia, Inc. was incorporated in the United States of America as a limited company. It was registered on 9th May, 1995 as a Non
Hong Kong company.
The subject’s registered office is in a commercial service firm located
at Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong known as Tricor
Services Ltd. which is handling its correspondences and documents. Its operating office is located at a
different address.
According to the Companies Registry of Hong Kong, the director of the
subject are David Mathieson, Robert John MC Card and Bruce David Hoechner. All are American and US passport holders and
do not have the right to reside in Hong Kong permanently.
The authorized representative of the subject in Hong Kong is Mr. Yee Siu
Tong Isabel. He is a Hong Kong merchant
and sometimes he is in Shenzhen Special Economic Zone. The subject can be reached at its Hong Kong
phone number 852-2549 8615.
The subject is a subsidiary company of Rogers Corporation [Rogers/Group]
of the United States.
Rogers is a listed company in the United States. Its shares has been listed on New York Stock
Exchange.
Rogers is the world’s technology leaders in innovative solutions for
power electronics, advanced foams for cushioning and protective sealing, and
high-frequency printed circuit materials.
For over 180 years, Rogers has developed new solutions to empower its
customers’ breakthroughs and help them create a cleaner, safer, and more
connected world. Today, it remains
headquartered in Rogers, Connecticut, the United States, but it is truly
global. It has got manufacturing
facilities in China, Japan, South Korea, Germany, and Belgium.
The subject is specialized in engineered materials. Its portfolio includes both standard and
customized solutions
to ensure mission-critical performance and reliability. The followings are the products carried:-
Protect --- High
Performance Foams:
PORON® Urethane Foams
BISCO® Silicone Materials
R/bak® Flexographic Printing Cushions
Connect --- Printed
Circuit Materials:
Bondply/Prepreg
High Speed Digital
RO3000® Laminates
RO4000® Laminates
RT/duroid® Laminates
Thin Circuit Laminates (LCP and PEEK)
TMM® Laminates
Power --- Power
Electronics Solutions:
curamik® Ceramic Substrates
curamik® Micro-Channel Coolers
RO-LINX® Busbars
Other Performance
Materials:
DUREL® IC Drivers
ENDUR® Document Rollers
NITROPHYL® Floats
Rogers’ products are exported to worldwide countries. It has had a number of subsidiaries in
China. Business is active.
For the year ended 31st December, 2013, the net sales of the Group
amounted to US$537.5 million (2012: US$498.8 million); net income of the Group
was US$37.7 million (2012: US$69.1 million).
The total employees of the Group are about 2,500 persons.
The subject’s business in Hong Kong is chiefly handled by Mr. Yee Siu
Tong. History in Hong Kong is over 19
years and seven months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.28 |
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1 |
Rs.98.38 |
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Euro |
1 |
Rs.76.30 |
INFORMATION DETAILS
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Analysis Done by
: |
RSM |
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Report Prepared
by : |
DPT |
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.