MIRA INFORM REPORT
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Report No. : |
332429 |
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Report Date : |
22.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SANY INTERNATIONAL DEVELOPMENT LIMITED |
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|
|
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Registered Office : |
Room 2022-2023, 20th Floor, Landmark
North, No.39 Lung Sum Avenue, Sheung Shui, N.T., Hong Kong |
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|
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Country : |
Hongkong |
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|
|
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
20.06.2007 |
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Com. Reg. No.: |
38264325 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
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No. of Employees : |
About 22,800 employees (Group) |
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 |
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|
|
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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) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 12.5% of total system deposits in Hong
Kong by the end of 2014. 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 47.3 million
in 2014, 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 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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
4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong
Kong and the mainland. The new measures, effective from March 2015, cover a
negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Contact
Points
|
Company Name (in English): |
|
|
Supplied Name: |
Sany International Development Ltd |
|
Trading Address: |
Room 2022-2023, 20th Floor,
Landmark North, No.39 Lung Sum Avenue, Sheung Shui, N.T., Hong Kong |
|
Supplied Address: |
Room 1001, Landmark North, No. 39 of Lung Sum Av,Sheung Shui, N.T, HK |
Note: The exact name
and address are as above. The supplied address belongs to subject’s former
address.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Room 2022-2023,
20th Floor, Landmark North, No.39 Lung Sum Avenue, Sheung Shui,
N.T., Hong Kong |
|
Telephone Number: |
+852-2187-3575 |
|
Date of Registration: |
2007-6-20 |
|
Registered Number: |
1142957 |
|
Business Registration No.: |
38264325 |
|
Paid-up Capital: |
USD 215,800,000 = 215,800,000 Shares @ USD 1 |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
74434-- TOWER CRANES (NO.) |
|
Principal Activities: |
Trading of engineering machinery products and
accessories. |
|
Staff: |
About 22,800 employees (Group) |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-6-20 |
History
Subject was incorporated on 2007-6-20 with the
registered number 1142957 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Parent Company
|
Name: |
|
|
Address: |
No. 8, Beiqing Rd., Changping Dist.,
Beijing, China |
|
Listed at Stock Exchange: |
Yes, Stock Symbol: SHA:600031 |
|
Tel: |
+86-010-6073-8666 |
Related Companies
|
Hunan Sany Road Machinery Co., ltd (literal
translation) Sany America Inc Sany South East Asia Pte. Ltd Sany Belgium Holding Sany Germany GMBH Sany South Africa CO.LTD Sany Belgium Financial Corporation Putzmeister Holding GmbH Intermix GmbH 10. Kunshan Sany Machinery Co., Ltd.
(literal translation) |
Note: It is introduced
that subject’s group has many members spread more than 100 countries; we supply 10 members of its group as subject’s
related companies for references.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Sany Heavy Industry Co., Ltd. |
215,800,000 |
100% |
|
Total |
215,800,000 |
100% |
Major Shareholder Information:
|
Name: |
|
|
Address: |
Chang Sha Shi Jing Ji Ji Shu, Kai Fa Qu,
China |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Zhou Fugui |
|
Address: |
No. 30, Tong Zi Po Road, Yue Lu Qu Tong, Changsha
Shi, China |
|
Position: |
Director |
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ID Number: |
440301196202155871 |
|
2 |
|
|
Name: |
TIMS Corporate Services Limited |
|
Address: |
Room A, 15th Floor, Fortis Tower
77-79 Gloucester Road, Wanchai, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
284320 |
Personnel
Structure
|
Total Employees |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Room 2022-2023, 20th Floor, Landmark
North, No.39 Lung Sum Avenue, Sheung Shui, N.T., Hong Kong |
Premises
Information
Office address:
|
Address: |
Offices On Level 20, NO.39 Lung Sum Avenue,
Landmark North, Sheung Shui New Territories, HK |
|
Owners: |
Festin Company Limited SHK Sheung Shui Landmark Investment Limited |
|
Memorial Number: |
Remarks: new grant NO. 12428 OF FSSTL 94 N277554 Remarks: Certified
True Copy Of Certificate Of Incorporation On Change Of Name |
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Date of Instrument: |
1990-12-7 |
|
Date of Registration: |
1992-9-17 |
Production
Information
·
Subject
is a trader of engineering machinery products and accessories.
·
It is
introduced that subject’s group has manufacturing bases for production in
Mainland China and overseas, including Beijing, Changsha, Shanghai, Shenyang,
Kunshan, Wulu Muqi of Mainland China; and USA, India, Gernmany and Brazil,
etc.
Purchase
Information
· Subject’s products are mostly provided by subject’s group’s factories.
Sales Information
· Subject is engaged in trading of engineering machinery products and accessories.
· Subject’s major products are concrete machinery, road construction machinery, hoisting machinery and pile driving machinery, including truck-mounted concrete pumps, concrete batching plants, crawler cranes, truck cranes, rotary drilling rigs, compactors and pavers, etc.
· Subject’s sales regions include domestic and overseas markets.
· Subject’s major products are tenders for Land transport Authority (LTA) projects and constructions companies, etc.
Settlements
PURCHASE
Domestic Purchase
|
Products |
Engineering machinery products and accessories. |
|
Payment Terms |
Internal settlement, T/T, etc. |
Import
Subject has little import.
Domestic Markets
|
Product |
Engineering machinery products and accessories. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Engineering machinery products and accessories. |
|
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 rejected to disclose
the financial information; from other sources we could not obtain such
information, either.
We found the Brief consolidated financial
information of subject’s Parent Company (Sany Heavy Industry Co., Ltd.) from
public files for reference.
Brief Consolidated
Balance Sheet
|
|
2014-12-31 |
2013-12-31 |
|
Current assets |
38,112,359 |
38,869,814 |
|
Non-current assets |
24,897,086 |
24,997,969 |
|
Assets |
63,009,445 |
63,867,783 |
|
Current liabilities |
20,849,625 |
17,951,847 |
|
Non-current liabilities |
17,418,991 |
20,907,099 |
|
Liabilities |
38,268,616 |
38,858,946 |
|
Total owners' equity |
24,740,829 |
25,008,837 |
|
Total liabilities and stockholder's interest |
63,009,445 |
63,867,783 |
Brief Consolidated
Profit and Loss Account
Units: CNY/000
|
|
2014 |
2013 |
|
30,364,721 |
37,327,890 |
|
|
Total operating costs |
30,039,187 |
34,525,806 |
|
Operating Profit |
717,429 |
2,747,612 |
|
Total Profit |
985,130 |
3,450,407 |
|
Net Profit |
755,972 |
3,094,852 |
|
Other Comprehensive income, after tax |
-461,007 |
-345,248 |
|
Total Consolidated Income |
294,965 |
2,749,604 |
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
|
1 |
|
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Company Name: |
Sany International Development Limited (the “Assignor”) |
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Date of Creating Mortgage: |
2012-4-16 |
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Name of Mortgagee: |
China Development Bank Corporation Hong Kong
Branch (the “Assignment”) |
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Address of Mortgagee: |
Room 3307-3315, 33/F, One International
Finance Centre, 1 Harbour View Street, Central, Hong Kong |
|
2 |
|
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Company Name: |
Sany International Development Limited |
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Date of Creating Mortgage: |
2008-7-8 |
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Name of Mortgagee: |
Bank of Communications Co. Ltd. Hong Kong
Branch (Incorporated in the People’s Republic of China) |
|
Address of Mortgagee: |
20 Pedder Street, 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: |
Mr. Zhou |
|
Department: |
Sales Department |
Industry
Information
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
-- |
-- |
7 |
43,730 |
|
Singapore |
1 |
4,112 |
99 |
52,352 |
|
Italy |
3 |
5,173 |
23 |
16,711 |
|
Germany |
-- |
-- |
13 |
30,784 |
|
The Mainland of China |
6 |
14,126 |
59 |
149,787 |
|
Taiwan |
-- |
-- |
1 |
1,117 |
|
Exports |
||||
|
United Arab Emirates |
1 |
5,410 |
27 |
9,281 |
|
Macau |
1 |
1,662 |
13 |
29,240 |
|
Singapore |
-- |
-- |
13 |
16,230 |
|
Thailand |
4 |
2,239 |
12 |
7,373 |
|
United Arab Emirates |
1 |
5,410 |
27 |
9,281 |
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 |
|
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 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
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 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Address: Room 2022-2023, 20th
Floor, Landmark North, No.39 Lung Sum Avenue, Sheung Shui, N.T., Hong Kong
We visited the above address, and confirmed
the subject located at it with the relevant staff of the subject, but no
company name on the wall.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.65 |
|
|
1 |
Rs.99.14 |
|
Euro |
1 |
Rs.68.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
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|
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.