MIRA INFORM REPORT
|
Report No. : |
304632 |
|
Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
TECHSTAR PACKAGING (HK) LIMITED |
|
|
|
|
Formerly Known As : |
GLOBAL SYNERGY HOLDINGS LIMITED GLOBAL SYNERGY SUPPLY CHAIN LIMITED |
|
|
|
|
Registered Office : |
Room 1812, Kwong Sang Hong Centre, 151 Hoi Bun Road, Kwun Tong, Kowloon |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
24.08.2010 |
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|
|
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Com. Reg. No.: |
52952900 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Trading of Packaging Materials. |
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|
|
|
No. of Employees : |
About 20 Employees |
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 : |
Satisfactory |
|
|
|
|
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 |
Contact
Points
|
Company Name (in English): |
Techstar Packaging (HK) Limited |
|
Supplied Name: |
TECHSTAR PACKAGING (HK) LTD. |
|
Trading Address: |
Room 1808, Kwong Sang Hong Centre, 151 Hoi Bun
Road, Kwun Tong, Kowloon, Hong Kong |
|
Supplied Address: |
SUITE 1808, 18/F, KWONG SANG HONG CTR., 151 HOI BUN ROAD, KWUN TONG,
KOWLOON, HONG KONG |
Note: The exact name
and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Room 1812, Kwong
Sang Hong Centre, 151 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2950-5418 |
|
Fax Number: |
+852-2343-7525 |
|
E-mail: |
|
|
Date of Registration: |
2010-8-24 |
|
Registered Number: |
1496722 |
|
Business Registration No.: |
52952900 |
|
Paid-up Capital: |
HKD 20,000,000 (USD
2,580,000) = 20,000,000 Shares@ HKD 1 (As of 2015.01, 1 HKD = 0.1290 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
83112--handbags, with outer surface
of sheeting of plastics or textile materials (no.) |
|
Principal Activities: |
Trading of packaging materials |
|
Staff: |
About 20 Employees (Hong Kong Office) |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-8-24 |
History
Subject was incorporated on 2010-8-24 with the
registered number 1496722 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
2013-3-18 |
Techstar Packaging (HK) Limited |
|
2010-9-22 |
Global Synergy Supply Chain Limited |
|
2010-8-24 |
Global Synergy Holdings Limited |
Corporate
Structure
Subsidiary
|
Name: |
Yiu Wing (Dongguan)
Industrial Co., Ltd. (Literal Translation) |
|
Address: |
Tianxin Huaxing
Industrial Area, Qiaotou Town, Dongguan City, Guangdong Province, China |
|
Date of Registration: |
2005-12-27 |
|
Registered Number: |
441900400192220 |
|
Registered Capital: |
HKD 13,000,000 |
|
Paid-up Capital: |
HKD 13,000,000 |
|
Legal Representative: |
Ma Hok Tak |
|
Proportion of
Investment (%) |
100% |
Major Related Companies
|
1 |
|
|
Name: |
Mainetti (HK) Ltd |
|
Address: |
Suite 1812, Kwong Sang Hong Centre, 151 Hoi
Bun Road, Kwun Tong, Kowloon, Hong Kong |
|
Date of Registration: |
1992-9-8 |
|
Registered Number: |
377836 |
|
2 |
|
|
Name: |
Yiu Wing (Hong Kong) Industrial Limited |
|
Date of Registration: |
2002-5-17 |
|
Registered Number: |
798390 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Techstar Packaging (Far East) Limited |
13,000,000 |
65% |
|
Ma Hok Tak, Edmond |
5,000,000 |
25% |
|
Pun Sau Man |
2,000,000 |
10% |
|
Total |
20,000,000 |
100% |
Major Shareholder Information:
|
1 |
|
|
Name: |
Techstar Packaging (Far East) Limited |
|
Address: |
Room 1812, Kwong Sang Hong Centre, 151 Hoi Bun Road, Kwun Tong,
Kowloon, Hong Kong |
|
Date of Registration: |
2011-7-20 |
|
Registered Number: |
1636848 |
|
Business Registration No.: |
58718524 |
|
Change of Name |
|
|
Date |
Change |
|
2012-11-13 |
Techstar Packaging (Far East) Limited |
|
2012-10-24 |
Techstar Packaging (Far East) Limited |
|
2012-4-24 |
MPPS Asia Limited |
|
2011-12-30 |
TLA Packaging Holding Limited |
|
2011-7-20 |
Modern Packaging Holding Limited |
|
2 |
|
|
Name: |
Ma Hok Tak, Edmond |
|
Address: |
Flat 3, 24/F., Block B, Scenery Garden,
21-29 Sui Wo Road, Fo Tan, Hong Kong |
|
3 |
|
|
Name: |
Pun Sau Man |
|
Address: |
Flat 3, 24/F., Block B, Scenery Garden,
21-29 Sui Wo Road, Fo Tan, Hong Kong |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Tai Lun, Paul |
|
Address: |
Room 1812, Kwong Sang Hong Centre, 151 Hoi Bun Road, Kwun Tong,
Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
C490036(5) |
|
2 |
|
|
Name: |
Cheng Wing Hung |
|
Address: |
Flat A, 6/F., Block 16, Charming Garden,
Mongkok, Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
K459914(4) |
|
3 |
|
|
Name: |
Ma Hok Tak, Edmond |
|
Address: |
Flat 3, 24/F., Block B, Scenery Garden,
21-29 Sui Wo Road, Fo Tan, Hong Kong |
|
Position: |
Director |
|
ID Number: |
G148912(6) |
|
4 |
|
|
Name: |
Pun Sau Man |
|
Address: |
Flat 3, 24/F., Block B, Scenery Garden,
21-29 Sui Wo Road, Fo Tan, Hong Kong |
|
Position: |
Director |
|
ID Number: |
E734492(2) |
|
5 |
|
|
Name: |
Withers Paul |
|
Address: |
Sycamores, Ladlylands Drive Jedburgh,
Scotland, TD8 6TD, United Kingdom |
|
Position: |
Director |
|
ID Number: |
R027577(7) |
|
6 |
|
|
Name: |
First Island Secretaries Limited |
|
Address: |
905 Silvercord, Tower 2, 30 Canton Road, Tsimshatsui,
Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
49295 |
Personnel
Structure
|
Total Employees |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Room 1808, Kwong Sang Hong Centre, 151 Hoi Bun Road, Kwun Tong,
Kowloon, Hong Kong |
Premises
Information
Office address:
|
Address: |
Workshop 08 On 18th Floor Kwong
Sang Hong Centre Nos. 151-153 Hoi Bun Road Kowloon |
|
Owners: |
Lee Yu Electrical Company Limited |
|
Memorial Number: |
UB5498208 Remarks: Assignment with plans pursuant to
m/n 5289186 & 5357262 |
|
Date of Instrument: |
1992-10-28 |
|
Date of Registration: |
1992-11-28 |
|
Consideration Value: |
HKD 39,499,800.00 (PT.) |
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
11060702080028 |
|
Date of Instrument: |
2010-8-3 |
|
Date of Registration: |
2011-6-7 |
|
Nature: |
Order no. ubz/u11-01/0130/09 by
the building authority under section 24(1) of the buildings ordinance |
|
2 |
|
|
Memorial No.: |
07021000260167 |
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Date of Instrument: |
2007-1-31 |
|
Date of Registration: |
2007-2-10 |
|
Nature: |
Rental assignment |
|
In Favor of: |
CITIC Ka Wah Bank Limited |
|
3 |
|
|
Memorial No.: |
07021000260155 |
|
Date of Instrument: |
2007-1-31 |
|
Date of Registration: |
2007-2-10 |
|
Nature: |
Legal Charge/Mortgage |
|
In Favor of: |
CITIC Ka Wah Bank Limited |
|
Consideration: |
All moneys (PT.) |
Note: (PT.) means part
of.
Production
Information
· Subject is engaged in manufacturing of packaging materials, etc.
· Subject has a subsidiary in Dongguan City, China for production.
· The Dongguan factory obtained the certifications of ISO 9001:2008 and ISO 14001:2004.
· It is introduced that Dongguan factory’s annual production capacity is about 8,000 tons.
Purchase
Information
· Subject purchases products mainly from its factory in Dongguan.
· It is introduced that the raw materials for production are mostly purchased in China domestic market.
Sales Information
· Subject is engaged in sale of packaging materials, etc.
· Subject’s major products include apparel labels, PP shopping bag, soft loop shopping bag, die cut shopping bag, non-woven shoulder bag, PVC packaging bag, zip-lock bag, adhesive tape bag, polybags and laminating bag, etc.
· Subject’s major type of customers is the manufacturers of garments, toys and daily supplies, etc.
· Subject’s sales regions cover all over the world.
· One of subject’s major foreign customers is Emenegildo Zegna Corp.
Settlements
PURCHASE
Domestic Purchase
|
Products |
Raw materials and packaging materials, etc |
|
Payment Terms |
Interior Settlement, T/T, etc |
Import
Subject has little
import.
SALES
Domestic Markets
|
Product |
Packaging materials, etc |
|
Selling Terms |
Cash, T/T, etc |
Export
|
Product |
Packaging materials, etc |
|
Selling Terms |
L/C, T/T, etc |
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 Ms. Zheng rejected to disclose the financial information, from
other sources we could not obtain such information, either.
Bankers
|
Name: |
The Hongkong and Shanghai Banking
Corporation Limited |
Public
Mortgage Record
|
Company Name: |
Techstar Packaging (HK) Limited |
|
Instrument of Creating Mortgage: |
Debenture |
|
Date of Creating Mortgage: |
2014-6-20 |
|
Name of Mortgagee: |
The Hongkong and Shanghai Banking
Corporation Limited |
|
Address of Mortgagee: |
No.1 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 |
|
High Court Commercial Action: |
Clear |
|
High Court Construction &
Arbitration Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Name: |
Ms. Zheng |
|
Department: |
Sales Department |
Industry
Information
83112--handbags, with outer
surface of sheeting of plastics or textile materials (no.)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Australia |
-- |
-- |
56 |
26 |
|
Belgium |
4,821 |
710 |
9,975 |
2,180 |
|
Canada |
-- |
-- |
1,574 |
58 |
|
Switzerland |
7,078 |
18,250 |
34,030 |
79,877 |
|
The Mainland of China |
9,808,760 |
423,131 |
42,027,760 |
1,818,122 |
|
Exports |
||||
|
Australia |
-- |
-- |
20 |
-- |
|
The Mainland of China |
30 |
16 |
1,730 |
50 |
|
Japan |
-- |
-- |
1 |
-- |
|
USA |
125 |
2 |
1,233 |
53 |
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 |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
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 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
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 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Kwong Sang Hong Centre, 151 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong
%20LIMITED%20-%20304632%2027-Jan-2015_files/image010.jpg)
Kwong Sang Hong Centre, 151 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong
%20LIMITED%20-%20304632%2027-Jan-2015_files/image011.jpg)
18/F., Kwong Sang Hong Centre, 151 Hoi Bun Road, Kwun Tong, Kowloon,
Hong Kong
%20LIMITED%20-%20304632%2027-Jan-2015_files/image012.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
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.