MIRA
INFORM REPORT
|
Report No. : |
328419 |
|
Report Date : |
27.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BELIMO ACTUATORS LIMITED |
|
|
|
|
Formerly Known As : |
BELIMO AUTOMATION HONG KONG LIMITED |
|
|
|
|
Registered Office : |
Rm. 208, 2F & 1601-1606, 16F, New Commerce Centre, 19 On Sum St., Shatin, NT |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
20.04.1995 |
|
|
|
|
Com. Reg. No.: |
19001655 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of Control Valves and Actuators. |
|
|
|
|
No. of Employees : |
Not Available |
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 – 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 |
|
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 12.5% 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): |
Belimo Actuators Limited |
|
Supplied Name: |
Belimo Actuators Limited |
|
Trading Address: |
Rm 1601-6, 16/F, New Commerce Centre, 19 On Sum Street, Shatin, N.T.,
Hong Kong |
|
Supplied Address: |
New Commerce Centre,19 on Sum Street, N.T.Shatin,Room 207,2/F,
Hongkong" |
Note: The exact name
and address are as above, and the supplied address is not complete.
Special Note
The supplied number (+91-11-41078508) belongs to subject’s related company
in India.
We tried to contact the subject through the other two numbers
(+91-7503216827 and + 91-9810352615) several times, but no one answered it. We
contacted the subject through the contact number +852-26871716 and confirm the information in the report.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Rm. 208, 2F
& 1601-1606, 16F, New Commerce Centre, 19 On Sum St., Shatin, NT, Hong
Kong |
|
Telephone Number: |
+852-2687-1716 |
|
Fax Number: |
+852-2687-1795 |
|
E-mail: |
|
|
Date of Registration: |
1995-4-20 |
|
Registered Number: |
511611 |
|
Business Registration No.: |
19001655 |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290) = 100 Shares@ HKD 100 (As of 2015.06, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
74740-- Safety
Or Relief Valves (No.) |
|
Principal Activities: |
Trading of control valves and actuators. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-4-20 |
Notes: Subject declined to disclose the number of staff, and from other source we
cannot obtain the information, either.
History
Subject was incorporated on 1995-4-20 with the
registered number 511611 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Effective Date |
Name |
|
1998-3-6 |
Belimo Actuators Limited |
|
|
|
|
1997-11-3 |
Belimo Actuators Limited |
|
1995-4-20 |
Belimo Automation Hong Kong Limited |
|
|
Corporate Structure
Related Companies
|
1 |
|
|
Name: |
Belimo Actuators Pty. Ltd. |
|
Address: |
12 Enterprise Court Mulgrave Business Park
Mulgrave, VIC 3170 Australia |
|
Tel: |
+61-3-8585-7800 |
|
Fax: |
+61-3-8585-7811 |
|
2 |
|
|
Name: |
Belimo Actuators India Pvt. Ltd. |
|
Address: |
Flat No. 515, DLF Tower – B Jasola Distt. Centre,
Jasola New Delhi – 110025, India |
|
Tel: |
+91-11-4107-8501 |
|
Fax: |
+91-11-4107-8508 |
|
3 |
|
|
Name: |
Belimo Actuators Ltd. |
|
Address: |
2nd Floor, Yamaki Building III, 3-1-5
Azumabashi, Sumida-ku, Tokyo 130-0001 Japan |
|
Tel: |
+81-3-6823-6961 |
|
Fax: |
+81-3-3626-3911 |
|
4 |
|
|
Name: |
Dao Nguyen Co.,Ltd. |
|
Address: |
3rd Floor, SeaProdex Building , 166 Nguyen
Cong Tru , Dist 1, HoChiMinh City, Viet Nam |
|
Tel: |
+84-8-3914-6384 |
|
Fax: |
+84-8-3914-6383 |
|
5 |
|
|
Name: |
Belimo Actuators Ltd. |
|
Address: |
7F-2, No.343, Jhonghe Rd., Yonghe District,
New Taipei city 234, Taiwan |
|
Tel: |
+886-2-2922-8805 |
|
Fax: |
+886-2-2922-8806 |
|
6 |
|
|
Name: |
Belimo Actuators (Shanghai) Trading Ltd. |
|
Address: |
479 Chun Dong Road, Building C-2 Xin Zhuang Industry
Park Shanghai 201108, P.R. China |
|
Tel: |
+86-21-5483-2929 |
|
Fax: |
+86-21-5483-2930 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Belimo Holding AG |
100 |
100% |
|
Total |
100 |
100% |
Major Shareholder Information:
|
Name: |
Belimo Holding AG |
|
Address: |
Brunnenbachstrasse 1, CH-8340 Hinwil
Switzerland |
|
Tel: |
+41-43-843-6111 |
|
Fax: |
+41-43-843-6268 |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: SWX: BEAN |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Economides Gary |
|
Address: |
Flat B, 28F, Tower 10, Vista Paradiso, No. 2
Hang Ming Street, Ma On Shan, NT, Hong Kong |
|
Position: |
Director |
|
ID Number: |
P778078(1) |
|
2 |
|
|
Name: |
Cheung Mei Ying |
|
Address: |
G/F, No. 15 Ha Wun Yiu Tai Po, New
Territories, Hong Kong |
|
Position: |
Director |
|
ID Number: |
C585492(8) |
|
Email: |
|
|
3 |
|
|
Name: |
Trutmann Beat Conrad |
|
Address: |
Chlupfwisstrasse 39, 8165 Oberweningen,
Switzerland |
|
Position: |
Director |
|
Passport No.: |
X3112114 |
|
Issuing Country: |
Switzerland |
|
3 |
|
|
Name: |
Secreco Limited |
|
Address: |
8th Floor, Gloucester Tower, The
Landmark, 15 Queen’s Rd. Central, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
139490 |
Operation Information
Offices &
Factories
|
|
Office |
|
Address: |
Rm 1601-6, 16/F, New Commerce Centre, 19 On Sum Street, Shatin, N.T.,
Hong Kong |
Premises
Information
Office address:
|
Address: |
Workshop 1 On 16/F New Commerce Centre No.19
On Sum Street Shatin New Territories, Hong Kong |
|
Owners: |
Acumen Company Limited |
|
Memorial Number: |
ST1264870 |
|
Date of Instrument: |
2002-1-31 |
|
Date of Registration: |
2002-2-27 |
|
Consideration Value: |
3,435,300.00 (PT.) |
History of Premises Owners’
|
1 |
|
|
Memorial No.: |
14090100960039 |
|
Date of Instrument: |
2014-8-4 |
|
Date of Registration: |
2014-9-1 |
|
Nature: |
Lease |
|
In Favor of: |
Belimo Actuators Limited |
|
Consideration: |
Term: 5 Years From 25.08.2014 To 24.08.2019 The Rent Is $78,075.00 Per Month For Year 1 To
Year 3 From 25.08.2014 To 24.08.2017 & The Rent Is $85,882.50 Per Month
For Year 4 To Year 5 From 25.08.2017 TO 24.08.2019 |
|
2 |
|
|
Memorial No.: |
13111900950025 |
|
Date of Instrument: |
2013-10-30 |
|
Date of Registration: |
2013-11-19 |
|
Nature: |
Legal Charge/Mortgage |
|
In Favor of: |
The Bank Of East Asia, Limited |
|
Consideration: |
All Monies (PT.) |
|
3 |
|
|
Memorial No.: |
ST1260814 |
|
Date of Instrument: |
2002-1-3 |
|
Date of Registration: |
2002-1-26 |
|
Nature: |
Agreement For Sale And Purchase |
|
In Favor of: |
Acumen Company Limited |
|
Consideration: |
3,435,300.00 (PT.) |
Note: PT. means part of.
Production
Information
· Subject is engaged in trading control valves and actuators, etc. without any production activities.
· It is introduced that subject’s group has factories in Southeast Asia and Europe, etc. for production.
Purchase
Information
· The products of the subject are both purchased at home and abroad.
Sales Information
· Subject is engaged in sale control valves and actuators, etc.
· The major products sold by the subject include general air solutions, safety solutions, room and system solutions, control valves and actuators, zone tight valves and actuators, globe valves and actuators, retrofit globe valve actuators, butterfly valves and actuators, peripherals, etc.
· The sales regions of the subject are domestic market and abroad.
· The major customers of the subject are manufacturers of refrigeration equipment, etc.
The detail information of the subject are as
follows:
|
Category |
Products |
|
General air solutions |
Mechanical fail-safe damper actuator,
electronic fail-safe damper actuator, linear and full rotary, general damper actuator,
related accessories, etc. |
|
Safety solutions |
Fire and smoke actuators, fire and smoke
protection, smoke extraction, etc. |
|
Control valves and actuators |
Steam valves, CCV control valves and
actuators, PICCV with rotary actuators, energy valve, FCU valves, H valves,
FCU valves, etc. |
|
Retrofit globe valve actuators |
Retrofit globe valve actuators,
non-fail-safe retrofit globe valve actuators, fail-safe retrofit globe valve
actuators |
Settlements
Purchase
Domestic Purchase
|
Products |
Control valves and actuators, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Control valves and actuators, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Sales
Domestic Markets
|
Product |
Control valves and actuators, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Control valves and actuators, 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.
We obtained the brief consolidated financial
information of subject’s parent company Belimo Holding AG from public files for
your reference:
Balance Sheet
Unit: CHF/000
|
Consolidated |
2014-12-31 |
2013-12-31 |
|
Current assets |
246,235 |
238,299 |
|
Non-current assets |
178,279 |
131,692 |
|
Assets |
424,514 |
369,991 |
|
Current liabilities |
72,826 |
43,761 |
|
Non-current liabilities |
34,769 |
38,769 |
|
Liabilities |
107,595 |
82,530 |
|
Shareholders’ equity |
316,919 |
287,461 |
|
Liabilities and shareholders’ equity |
424,514 |
369,991 |
Profit and Loss Account
Unit: CHF/000
|
Consolidated |
2014 |
2013 |
|
Net sales |
493,919 |
472,859 |
|
Operating income (EBIT) |
81,250 |
81,318 |
|
Income before taxes (EBT) |
81,756 |
76,383 |
|
Net income |
67,193 |
62,609 |
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
|
Company Name: |
Belimo Actuators Limited |
|
Instrument of Creating Mortgage: |
Security Over Deposits |
|
Date of Creating Mortgage: |
2012-12-4 |
|
Amount Secured: |
Amount secured-(i) all monies in any currency
owing by the Company to the charge at any time, actually or contingently, in
any capacity, alone or jointly with any other person, (ii) interest on such
monies (both before and after any demand or judgment), to the date on which
the charge receives payment, at the rates payable by the company or which
would have been payable but for any circumstance which restricts payment and
(iii) all expenses of the charge in perfecting or enforcing the charge. |
|
Name of Mortgagee: |
The Hongkong and Shanghai Banking
Corporation Limited |
|
Address of Mortgagee: |
Head Office, No. 1 Queen’s Rd. Central, Hong
Kong |
|
Description of Property Mortgaged: |
A deposit with charge in the amount for HKD 80,000
or its equivalent in other foreign currencies under deposit A/C No.
139-338875, whatever currency it may subsequently be denominated in, any
renewal of such deposit and the interest thereon together with any further
monies in any deposit account with the charge at any of its offices. |
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
|
Department: |
Sales Department |
Industry Information
74740-- Safety
or Relief Valves (No.)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Germany |
168 |
298 |
12,210 |
1,999 |
|
Britain |
1,830 |
1,174 |
6,818 |
3,390 |
|
India |
30,348 |
1,324 |
33,105 |
3,075 |
|
Italy |
14,445 |
1,839 |
31,271 |
2,929 |
|
Japan |
1,296 |
224 |
7,099 |
3,074 |
|
Singapore |
1,188 |
580 |
6,788 |
2,625 |
|
Taiwan |
2,260 |
110 |
8,817 |
752 |
|
USA |
4,205 |
1,698 |
17,849 |
6,347 |
|
The Mainland of China |
6,180 |
2,582 |
12,758 |
8,505 |
|
Exports |
||||
|
Britain |
1 |
13 |
1 |
13 |
|
Germany |
-- |
-- |
809 |
62 |
|
Korea |
-- |
-- |
4,000 |
169 |
|
India |
17 |
382 |
17 |
382 |
|
Malaysia |
300 |
45 |
6,304 |
680 |
|
Macau |
400 |
161 |
1,630 |
691 |
|
Taiwan |
307 |
747 |
4,101 |
2,401 |
|
The Mainland of China |
38,879 |
8,982 |
100,505 |
42,415 |
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: Rm 1601-6, 16/F, New Commerce Centre, 19 On Sum Street, Shatin,
N.T., Hong Kong
New Commerce Centre, 19 On Sum Street, Shatin, N.T., Hong Kong
Rm 1601-6, 16/F, New Commerce Centre, 19 On Sum Street, Shatin, N.T.,
Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.60 |
|
|
1 |
Rs.100.09 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.