MIRA INFORM REPORT
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Report No. : |
328180 |
|
Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
STEELCO PACIFIC
TRADING LIMITED |
|
|
|
|
Formerly Known As : |
GOLD LOYAL INVESTMENT LIMITED |
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|
|
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Registered Office : |
42F, China Online Centre, 333 Lockhart Rd., Wanchai |
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|
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Country : |
Hongkong |
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|
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Date of Incorporation : |
13.04.2004 |
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|
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Com. Reg. No.: |
52566195 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
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Line of Business : |
Trading of Steel Products. |
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|
|
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No. of Employees : |
About 30 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Unknown |
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|
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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 |
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Moderate |
B1 |
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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): |
Steelco Pacific Trading Limited |
|
Supplied Name: |
STEEL CO PACIFIC TRADING LTD |
|
Trading Address: |
42F, China Online Centre, 333 Lockhart Rd., Wanchai, Hong Kong |
|
Supplied Address: |
42/F China Online Centre 333 Lockhart Road Wanchai |
Note: The exact name
and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
42F, China Online Centre, 333 Lockhart
Rd., Wanchai, Hong Kong |
|
Telephone Number: |
+852-2893-1099/2893-1681/3657-5352 |
|
Fax Number: |
+852-2893-1399 |
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Date of Registration: |
2004-4-13 |
|
Registered Number: |
894684 |
|
Business Registration No.: |
52566195 |
|
Paid-up Capital: |
HKD 34,000,000 (USD 4,386,000) = 34,000,000
Shares @ HKD 1 (As of 2015.06, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
67556--Flat-Rolled Products Of Stainless Steel,
Not Further Worked Than Cold-Rolled, Width Less Than |
|
Principal Activities: |
Trading of steel products. |
|
Staff: |
About 30 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-4-13 |
History
Subject was incorporated on 2004-4-13 with the
registered number 894684 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Effective Date |
Name |
|
2005-4-21 |
Steelco Pacific Trading Limited |
|
|
|
|
2005-3-15 |
Steelco Pacific Trading Limited |
|
2004-4-13 |
Gold Loyal Investment Limited |
|
|
Corporate
Structure
Offices
|
1 |
|
|
Name: |
Guangzhou Office |
|
Address: |
910, Bai Hui Plaza 193 Zhongshan 5 Rd,
Guangzhou City, China |
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2 |
|
|
Name: |
Taipei Office |
|
Address: |
8F.-11, No.257, Jianguo Rd., Xindian Dist.,
New Taipei City 231, Taiwan (R.O.C.) |
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3 |
|
|
Name: |
Shanghai Office |
|
Address: |
Room 1303, Yuan Building, No.738 Dongfang
Rd, Shanghai City, China |
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4 |
|
|
Name: |
Dubai Office |
|
Address: |
No 2201 Jumeirah Business Center 2 Jumeirah
Lake Towers Dubai, UAE |
|
5 |
|
|
Name: |
Mumbai Office |
|
Address: |
Office No. 8, Apeejay Business Centre,
Apeejay Express, Plot 87, Sector 17, Vashi, Navi Mumbai, India |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Steelco Investment Limited |
34,000,000 |
100% |
|
Total |
34,000,000 |
100% |
Major Shareholder Information:
|
Name: |
Steelco Investment Limited |
|
Address: |
42F, China Online Centre, 333 Lockhart Rd.,
Wan Chai, Hong Kong |
|
Date of Registration: |
2010-7-7 |
|
Registered Number: |
1477080 |
|
Business Registration No.: |
52566195 |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Au Chun Keung |
|
Address: |
13F, The Primrose, 38 Rose St., Yau Yat
Chuen, Kowloon, Tong KLN, Hong Kong |
|
Position: |
Director |
|
ID Number: |
E899944(2) |
|
2 |
|
|
Name: |
Chan Wai Yee |
|
Address: |
42F, China Online Centre, 333 Lockhart Rd., Wanchai, Hong Kong |
|
Position: |
Secretary |
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Registered Number: |
K619999(2) |
Personnel
Structure
|
Total Employees |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
42F, China Online Centre, 333 Lockhart Rd., Wanchai, Hong Kong |
Premises
Information
Office address:
|
Address: |
42nd Floor China Online Centre No.333
Lockhart Road Hong Kong |
|
Owners: |
Jaffe Development Limited |
|
Memorial Number: |
UB6328460 |
|
Date of Instrument: |
1995-5-30 |
|
Date of Registration: |
1995-6-28 |
|
Consideration Value: |
HKD 154,700,000.00 |
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
15030602080041 |
|
Date of Instrument: |
2015-2-11 |
|
Date of Registration: |
2015-3-6 |
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Nature: |
Legal Charge |
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In Favor of: |
OCBC Wing Hang Bank Limited |
|
Consideration: |
All Moneys (PT.) |
|
2 |
|
|
Memorial No.: |
UB8863109 |
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Date of Instrument: |
2002-12-20 |
|
Date of Registration: |
2003-1-30 |
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Nature: |
Licence Agreement From
15.10.2004 To 14.4.2005 Re Unit 01 On 40/F |
|
In Favor of: |
The Church Of Jesus Christ Of
Latter-Day Saints Hong Kong Limited |
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Consideration: |
-- |
|
3 |
|
|
Memorial No.: |
UB8563089 |
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Date of Instrument: |
2001-12-5 |
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Date of Registration: |
2001-12-24 |
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Nature: |
Deed Of Surrender With Plans |
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In Favor of: |
The Government Of The Hong Kong
Special Administrative Region On Behalf Of The State |
|
Consideration: |
-- |
Note: PT. means of part of.
Production Information
· Subject is engaged in trading of steel products, etc. without any production activities.
Purchase
Information
· The products sold by the subject are mainly purchased in the Mainland of China.
Sales Information
· Subject is engaged in sale of steel products, etc.
· The major products include raw materials (scrap), billet slab, hot rolled coils, plates, cold rolled hot dip galvanized, pre-painted galvanized, tin mill products, reinforcing bars, wire rods, sections, tubes and pipes, etc.
· It is introduced that subject also provide package and logistics services, etc.
· It is introduced that subject’s products are applied for river crossing, pipe rack, oil rig, etc.
· The major sales regions of the subject are domestic market, India, Southeast Asia, America, etc.
Settlements
PURCHASE
Domestic Purchase (the Mainland of China)
|
Products |
Steel products, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
Subject has little import.
SALES
Domestic Markets
|
Product |
Steel products, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Steel products, 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 rejected to disclose the financial information; from
other sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
|
Date: |
2011-9-9 |
|
Court Name: |
District Court Miscellaneous Proceedings |
|
Court No.: |
1739 |
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Claimant: |
Steelco Pacific Trading Ltd c/o Reed Smith Richards Butler (a firm) (HCMP) |
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Defendant: |
T.S.B. Steel Co Ltd |
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Reason: |
Enforcement of awards/determinations |
|
2 |
|
|
Date: |
2008-12-2 |
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Court Name: |
High Court Commercial Action |
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Court No.: |
LBTC5013 |
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Claimant: |
(TSO SUET MUI) (LBTC5013/2008) (Parties) |
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Defendant: |
STEELCO PACIFIC TRADING LIMITED (LBTC) (Parties) |
|
Reason: |
Not Stated |
Mortgage Record
No mortgage record of the subject was found.
Special
Note
Interview Details
|
Name |
Mr. Michael |
|
Department: |
Sales Department |
|
Email: |
Industry
Information
67556--Flat-Rolled
Products of Stainless Steel, Not Further Worked Than Cold-Rolled, Width Less
Than
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Belgium |
41,562 |
856 |
156,436 |
3,218 |
|
Germany |
25,330 |
397 |
55,609 |
3,387 |
|
Spain |
23,704 |
540 |
311,592 |
5,557 |
|
Finland |
-- |
-- |
67,646 |
1,261 |
|
Taiwan |
837,551 |
19,975 |
8,113,528 |
227,108 |
|
The Mainland of China |
140,236 |
4,443 |
3,073,198 |
85,536 |
|
Exports |
||||
|
United Arab Emirates |
-- |
-- |
10,151 |
191 |
|
Malaysia |
371 |
99 |
139,503 |
2,904 |
|
USA |
50,888 |
1,270 |
139,671 |
3,612 |
|
Taiwan |
3,524 |
383 |
12,970 |
572 |
|
Kingdom of Saudi Arabia |
-- |
-- |
37,012 |
854 |
|
Indonesia |
6,462 |
164 |
8,991 |
244 |
|
Chile |
|
|
|
|
|
The Mainland of China |
1,910,728 |
62,644 |
24, 959,855 |
823,663 |
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: 42F, China Online Centre, 333 Lockhart Rd., Wanchai, Hong Kong
China Online Centre, 333 Lockhart Rd., Wanchai, Hong Kong
42F, China Online Centre, 333 Lockhart Rd., Wanchai, Hong Kong
42F, China Online Centre, 333 Lockhart Rd., Wanchai, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.66 |
|
|
1 |
Rs.100.50 |
|
Euro |
1 |
Rs.71.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.