|
Report No. : |
303028 |
|
Report Date : |
17.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ATL LOGISTICS CENTRE
HONG KONG LTD. |
|
|
|
|
Registered Office : |
Berth 3, Kwai Chung Container Terminal, Kwai Chung, New Territories |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
31.12.1981 |
|
|
|
|
Com. Reg. No.: |
07712080 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Warehouse and Office Leasing, Cargo Handling, Container Freight
Station, Logistics and Distribution Services. |
|
|
|
|
No. of Employees : |
1,200 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
ATL
LOGISTICS CENTRE HONG KONG LTD.
ADDRESS: Berth 3, Kwai Chung Container
Terminal, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2489 5572, 2489 5500,
2849 5555
FAX: 852-2408 3125, 2615 1110,
2614 4791
E-MAIL: inquiry@atlhk.com
Managing Director: Mr.
Hui Chun Ping Charles
Incorporated on: 31st
December, 1981.
Organization: Private
Limited Company.
Issued Share Capital: HK$174,918.00
Business Category: Cargo handling and storage facilities operating.
Group Employees: 1,200.
Main Dealing Banker: Standard Chartered Bank (HK) Ltd., Hong Kong.
Banking Relation: Very
Good.
Registered
Head Office:-
Berth 3, Kwai Chung Container Terminal, Kwai
Chung, New Territories, Hong Kong.
China
Office:- [Operated by subsidiary]
District No. 16, Yantian Port Base, Shenzhen
Special Economic Zone, China. [Tel:
(86-755) 2521 8219; Fax: (86-755) 2521
7745]
Division:-
ATL Logistics Centre, Hong Kong.
Holding
Company:-
CSX World Terminals Hong Kong Ltd., Hong
Kong.
Ultimate
Holding Company:
DP World Ltd., UAE.
Subsidiaries:-
ATL Logistics Centre Yantian Ltd., China.
ATL Thailand Ltd., Thailand.
etc.
Associated
Companies:-
DP
World Group of Companies
CSX Orient (Tianjin) Container Terminals Co.
Ltd., China.
CSXWT Terminal 8 Ltd.,
British Virgin Islands.
DP World China Holdings Ltd., Hong Kong.
DP World Infrastructure Ltd., Hong Kong.
DP World Logistics Hong Kong Ltd., Hong
Kong.
DP World New World (Tianjin) HK Ltd., Hong
Kong.
DP World Tianjin Holdings Ltd., Hong Kong.
DP World Yantai Co. Ltd., China.
DPI Terminals New World (Tianjin) Ltd.,
Cayman Islands.
DPI Terminals New World Ltd.,
British Virgin Islands.
Goodman DP World Hong Kong Ltd., Hong Kong.
Jafza International, UAE.
Shanghai Ji Fa Logistics Co. Ltd., China.
Tianjin Orient Container Terminals Co. Ltd.,
China.
United Asia Terminals (Yantian) Ltd., Hong
Kong.
etc.
Other
Associated Companies:-
New World Group of Companies
07712080
0107265
Managing Director: Mr.
Hui Chun Ping Charles
Contact Person: Mr.
Steven Chung
HK$174,918.00
(As
per registry dated 31-12-2014)
|
Name |
|
No. of shares |
||
|
|
|
“A” |
“B” |
Non-Voting Deferred |
|
CSX World Terminals Hong Kong Ltd., Hong
Kong. |
|
51,000 |
- |
- |
|
Hetro Ltd. P.O. Box 957, Offshore Incorporations
Centre, Road Town, Tortola, British Virgin Islands. |
|
39,000 |
15,918 |
- |
|
Central Development International Holdings
Ltd. P.O. Box 71, Craigmuir Chambers,
Road Town, Tortola, British Virgin Islands. |
|
10,000 |
4,082 |
- |
|
New World Development Co. Ltd., Hong Kong. |
|
- |
- |
54,918 |
|
|
|
––––––– |
–––––– |
–––––– |
|
|
Total: |
100,000 ====== |
20,000 ===== |
54,918 ===== |
(As
per registry dated 31-12-2014)
|
Name (Nationality) |
Address |
|
HUI Chun Ping, Charles |
Flat B, 10/F., Block 1, Grand Garden, 61 South
Bay Road, Hong Kong. |
|
LAM Siu Kwong |
Flat E, 18/F., Willow Mansion, Taikoo
Shing, Hong Kong. |
|
Lam Wai Hon, Patrick |
House 9, Severn Hill, 4 Severn Road, The
Peak, Hong Kong. |
|
CHAN Sing Huen, Lawman |
Flat B, 3/F., Block 10, Wonderland Villas,
Wah King Hill Road, Kowloon, Hong Kong. |
|
TO Tsan Wai |
Flat C, 18/F., Tower 3, Tierra Verda,
Tsing Yi, New Territories, Hong Kong. |
|
TSANG Yam Pui |
4/F., Block 29, Baguio Villa, Victoria
Road, Hong Kong. |
|
CHEUNG Chin Cheung |
11H, Middle Lane, Discovery Bay, Hong
Kong. |
|
Philip John PEARCE |
Apartment K, 10/F., Block A-4, Scenie
Villas, 2‑28 Scenic Villa Drive, Hong Kong. |
|
Kristoffer Allan HARVEY |
Apartment B5, 8/F., Block B, Greenery
Garden, 2A Mount Davis Road, Hong Kong. |
|
LEE Wai Ho, Stephen |
Apartment 32, 50/F., Celestial Heights, 80
Sheung Shing Street, Kowloon, Hong Kong. |
|
David Anthony HINCHEY |
Flat C, 2/F., Fortune Court, 43 Kennedy
Road, Hong Kong. |
|
Rashed Ali Hassan Abdulla |
3/F., Cntury Tower II, 1 & A1
Tregunter Path, Hong Kong. |
|
Yuvraj NARAYAN |
Frond P, Villa #8, Palm Jumeirah, Dubai,
UAE. |
|
Anil WATS |
Villa M-13, Frond M, Palm Jumeirah, Dubai,
UAE. |
|
MAK Bing Leung, Rufin |
Room 1404, 14/F., Block B,Villa Rocha, 10
Broadwood Road, Happy Valley, Hong Kong. |
|
CHENG Chi Ming, Brian |
8 Black’s Link, Hong Kong. |
CHAN Sing Huen, Lawman (As per registry
dated 31-12-2014)
The subject was incorporated on 31st December, 1981 as a private limited
liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Asia Terminals Ltd., name
changed to the present style on 15th December, 2000.
Apart from these, neither material change
nor amendment has been ever traced and noted.
Activities & Lines: Warehouse
and Office Leasing, Cargo Handling, Container Freight Station, Logistics and Distribution Services.
Group Employees: 1,200.
Business Territories: Hong
Kong, China, etc.
Issued Share Capital: HK$174,918.00
Mortgage or Charge:-
Date of The Subordination Agreement: 24-12-1991
Amount: To secure the
due and punctual payment of all amounts which are or at any time in the future
may become payable by the Borrower, including contingent liabilities, under the
Loan Agreement dated 10-12-1990
Property: By way of
Assignment: All sums which are at the
time of the Subordination Agreement or may thereafter become owing by the
Borrower to the Subordinated Lender
Mortgagee: Standard Chartered
Bank, Hong Kong Branch.
[Now known as Standard Chartered Bank (HK) Ltd.]
Profit or Loss: Operation is profitable.
Condition:
Business is
active and good.
Facilities:
Making active
use of general banking facilities.
Payment:
Reliable.
Commercial Morality: Very
Good.
Bankers:-
BNP Paribas, Hong Kong Branch.
Standard Chartered Bank (HK) Ltd., Hong Kong.
Standing:
Very Good.
ATL Logistics Centre Hong Kong Ltd. [ATL] formerly was known as Asia
Terminals Ltd. which was incorporated in December 1981. It was renamed as the present style in
December 2000.
The ultimate holding company of ATL DP World Ltd. [DP World] is a UAE‑based
company.
ATL owns and operates ATL
Logistics Centre which is the world’s first and largest intelligent multi-storey
drive-in cargo logistics centre. ATL Logistics Centre offers warehouse
and office leasing as well as a full range of cargo handling, container freight
station [CFS], logistics and distribution services. ATL
Logistics Centre is conveniently located in the heart of Kwai Chung
Container Terminals and within easy reach of Hong Kong’s commercial and
population centres, airport, as well as the Mainland border.
The followings are the facilities and equipment of ATL:-
· Total floor area: 9,329,000 square feet
· Leasable floor area: 5,940,909 square feet
· Number of floors: Centre A: 7 floors, Centre B: 13 floors
· Headroom: 1st - 7th floor: 17.5 feet, 8th - 11th floor: 25.0 feet
· Loading Capacity: 1st - 7th floor: 350 lb. / square foot, 8th - 11th floor: 450 lb. / square foot
· Vehicular access: 3 lane ramp (2 lanes up & 1 lane down)
· Vehicle queuing/waiting: 7 / F Centre A & Centre B, 12 / F Centre B
· Loading bay number: Over 1,730 loading bays (94-120 loading bays per floor)
· Traffic throughput: Average 8,000 vehicles a day
ATL has expanded its warehousing facilities outside Hong Kong. ATL Thailand Ltd. was incorporated to develop
and manage a container freight station in Thailand. It is a joint-venture between ATL, holding
49%, and Thai partners the White Group and National Finance & Securities,
jointly holding 51%. The construction
cost was about HK$150 million. The 39‑hectare
freight station site was bought for a consideration of HK$40 million.
ATL provides comprehensive one-stop cargoes handling services, container
terminal services and trucking services to meet customers’ needs. It has set up a new facility in Yantian known
as ATL Logistics Centre Yantian Ltd. [ATL Yantian] which is a China
Customs approved export warehouse located in the vicinity of Yantian
International Container Terminal. ATL
Yantian commenced its operations in January 2002. It brings together the expertise of ATL and
other members of the DP World Group to provide logistics and warehousing
services to customers.
The ultimate holding company, DP World is an Emirati marine terminal
operator. It is based in Dubai and is
one of the largest marine terminal operators in the world. It operates more than 60 terminals across six
continents, with container handling generating around 80% of its revenue. In addition, the company has 11 new
developments and major expansions underway in 10 countries.
DP World was founded in 2005 by merging Dubai Ports Authority and Dubai
Ports International (which was founded in 1999). It purchased Peninsular and Oriental Steam
Navigation Company (P&O) of the United Kingdom in 2006 for £3.9 billion
(US$7 billion), which was at the time the world’s fourth largest ports
operator. Shares representing 20% of the
company were floated on the NASDAQ Dubai stock exchange in 2007. The company does not currently operate in the
United States where its purchase of a number of US ports led to high-level
controversy.
DP World is incorporated in the Dubai International Financial Centre and
is a dual primary listed company, having been accepted for admission to trading
by NASDAQ Dubai in 2007 and to the official list of the London Stock Exchange
in 2011. It has a portfolio of more than
65 terminals across six continents, including container terminals,
non-container terminals and new developments in India, Africa, Europe, and the
Middle East. Container handling is its
core business and generates more than three quarters of its revenue. In 2013, it handled 55 million TEU5 across
its global portfolio.
Its capacity is expected to rise to more
than 100 million TEU by 2020, in line with market demand.
DP World operates its portfolio under three
regions:-
· Middle East, Europe and Africa
· Asia Pacific and Indian Subcontinent
· Australia and Americas
It employs 30,000 people in total.
The history of the subject in Hong Kong is
over 33 years.
On the whole, in view of the parentage of
ATL, consider it good for normal business engagements.
Brief
personal profile of the directors and CEOs:-
Mr.
Mohammed SHARAF, Group Chief Executive Officer
Mohammed Sharaf has served as Group Chief Executive Officer of the Group
since 2005 and as a Director of the Company since 30th May 2007. He joined Dubai Ports Authority in 1992, and
in 2001 he became Managing Director of DP World FZE. In this position, he oversaw the Group’s
growth into an international business and performed central roles in developing
its first international operations at the terminals of Jeddah (Saudi Arabia),
Constanta (Romania) and Vizag (India) and in developing its national operations
at Jebel Ali and Port Rashid terminals (UAE).
He began his shipping career at Holland Hook terminal in The Port of New
York/New Jersey and has more than 20 years experience in the transport and
logistics business. He is also Chairman
of Tejari World FZ LLC. He is Joint Vice Chairman of US-UAE Business Council
and a member of the UAE-Canada Business Council Board. A citizen of the United Arab Emirates, he is
52 years old.
Mr.
Yuvraj NARAYAN, Chief Financial
Officer
Yuvraj Narayan has served as Chief Financial Officer of the Group since
2005 and as a Director of the Company since 9th August, 2006. He joined DP World FZE in 2004. He serves as Non-Executive Director of IDFC
Securities Limited. He previously served
as Non-Executive Director of Istithmar World PJSC and as ANZ Group’s Head of
Corporate and Project Finance for South Asia before becoming Chief Financial
Officer of Salalah Port Services in Oman.
He is a qualified Chartered Accountant and has a wealth of experience in
the ports and international banking sectors.
A citizen of the Republic of India, he is 57 years old.
Mr. Steven CHUNG, is the General
Manager for Sales and Marketing of ATL.
Mr. Chung joined ATL in 1997 after many years of extensive experience in
the commercial real estate industry specializing in the sale and leasing of
prime warehouse property on behalf of multi-national corporations. Mr. Chung came to ATL via CB Richard Ellis
where he headed up the industrial department and has primary responsibility on
all leasing matters in ATL. Steven Chung
holds a Bachelor of Economics degree from University of New England in
Australia where he has reside for 15 years before relocating to Hong Kong.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
|
|
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.