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Report No. : |
312990 |
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Report Date : |
25.03.2015 |
IDENTIFICATION DETAILS
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Name : |
THAI HARVEST LTD |
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Registered Office : |
Room G, 13/F., Block 4, Kwun Tong Industrial Centre, 432-446 Kwun Tong Road, Kwun Tong, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
15th September, 1992. |
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Com. Reg. No.: |
16148959 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Importer and Re-Exporter of Feedstuffs and all kinds of Agrochemicals
such as Insecticides, Fertilisers, Fine Chemicals. |
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No. of Employees : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hongkong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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% 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 |
THAI
HARVEST LTD.
ADDRESS: Room G, 13/F., Block 4, Kwun Tong
Industrial Centre, 432-446 Kwun Tong Road, Kwun
Tong, Kowloon, Hong Kong.
PHONE: 852-2581
0503
FAX: 852-2541
9720, 2581 0771
Managing Director:
Mr. Tin Hiu Wang
Incorporated on: 15th September, 1992.
Organization: Private Limited Company.
Issued Share Capital: HK$500,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 12.
Main Dealing Bankers: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory
Registered Head
Office:-
Room G, 13/F., Block 4, Kwun Tong Industrial Centre,
432-446 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong.
Holding Company:
Nantong Thai Harvest Chemical Co. Ltd., China.
Associated Companies:
CAC (Shanghai) International Trading Co. Ltd., China.
CAC Chemical GmbH, Germany.
CAC Group Ltd., Hong Kong.
CAC Nantong Chemical Co. Ltd., China.
CAC Shanghai (Group) Co. Ltd., China.
CAC Shanghai Chemical Co. Ltd., China.
Gold Chemical Ltd., Hong Kong.
Jiangsu Xinhe Agrochemical Co. Ltd., China.
Jiangyin Futai Chemical Co. Ltd., China.
Jiangyin Goldfuda Chemical Co. Ltd., China.
Suzhou Jiahui Chemical Co. Ltd., China.
16148959
0379085
Managing Director:
Mr. Tin Hiu Wang
HK$500,000.00
(As per registry
dated 15-09-2014)
|
Name |
|
No. of shares |
|
Nantong Thai
Harvest Chemical Co. Ltd. Yangkou Chemical Park Rudong, Nantong Jiangsu 226407.
China. |
|
500,000 |
(As per registry
dated 15-09-2014)
|
Name (Nationality) |
Address |
|
TIN Hiu Wang |
No. 912, Lane 366, Minghua Road, Songjiang, Shanghai
Province, China. |
(As per registry
dated 15-09-2014)
|
Name |
Address |
Co. No. |
|
Macro Consultants Ltd. |
Unit 701, 7/F., 102 Austin Road, Jordan, Kowloon, Hong
Kong. |
0363432 |
The subject was
incorporated on 15th September, 1992 as a private limited liability company
under the Hong Kong Companies Ordinance.
Long time ago, the
subject was located at Room B, 12/F., Wing On Cheong Building, 5 Wing Lok
Street, Central, Hong Kong. It moved to
the present address in March 2014.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer
and Re-exporter.
Lines: Feedstuffs
and all kinds of agrochemicals such as insecticides, fertilisers, fine
chemicals
Employees: 12.
Commodities Imported: Mainly
imported from Argentina, Germany and other European countries.
Markets: China,
Thailand, Southeast Asia, etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C and T/T, etc.
Issued Share Capital: HK$500,000.00
Indebtedness: HK$
7,000,000.00 (Total amount outstanding on all mortgages and charges as per last
Annual Return dated15-09-2014 )
Mortgage or charge:
(See attachment)
Profit or Loss: Business
is profitable.
Condition: Business
is active.
Facilities: Actively
using general banking facilities.
Payment: Met as required.
Commercial Morality:
Good.
Bankers:-
Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong
Citibank
N.A., Hong Kong.
Standing: Very Good.
Thai Harvest Ltd. is a
private limited company wholly owned by Nantong Thai Harvest Chemical Co. Ltd.
which is a China-based company.
The subject has had a
number of associated companies in China.
Comprehensively, all the companies are referred to CAC Group.
The subject is trading
in feedstuffs, feedstuff additives and all kinds of agrochemicals such as
insecticides, fertilisers, pharmaceutical intermediates, herbicides,
fungicides, etc.
Commodities are
imported from China, Argentina, Germany and the other European countries. Imported commodities are marketed in China,
re-exported to Southeast Asia, Europe, Australia, etc.
According to the
subject, its factories are located in Nantong City, Suzhou City, Jiangyin City
and Xinyi City, all of which are in Jiangsu Province, China. Its R&D centre is in Shanghai, China.
Besides, the Group
has set up associated companies in the United States and Germany.
The subject’s
business has been active. It is also an
agent for an agrochemical manufacturer in Argentina, South America.
In 2013, the sales of
the Group amounted to RMB1,247 million Yuan, tax paid to the government
amounted to RMB50 million Yuan.
The subject’s
business is handled by Mr. Tin Hiu Wang himself.
On the whole, having
a history of over 22 years and six months, the subject is considered good for
normal credit requirements.
|
Date |
Particulars |
Amount |
|
09-01-2003 |
Instrument: Charge Over Deposits – CD 1 (02) Property: 1) By
fixed Charge: All the company’s rights in respect of the following
(i) the sum deposited by the company or for its benefit in the account or as
evidenced by deposit instrument or other evidence of indebtedness specified
in the annexed schedule, including additions to or renewals or replacements
of such sums in any currency; and (ii) all other sums in any currency from
time to time standing to the credit of the company or the credit of any other
person for the company’s benefit whether alone or jointly with other on any deposit
account with the Bank or any other SCB Group Company including additions to
or renewals or replacements of such sum, and all interest from time to time accruing or payable
on the sums specified in (i) and (ii) above; 2) By
assignment: All Deposits held with any SCB Group Company Existing Amount:
US$12,843, Mortgagee: Standard Chartered Bank,
Hong Kong Branch. [Business
transferred to Standard Chartered Bank (Hong Kong) Ltd.] |
To secure the payment or discharge of all moneys,
obligations and liabilities |
|
30-06-2008 |
Instrument: Charge Over Deposits – CD 1 (06) Property: 1) By
fixed Charge: All the company’s rights in respect of the following
(i) the sum deposited by the company or for its benefit in the account or as
evidenced by deposit instrument or other evidence of indebtedness specified
in the annexed schedule, including additions to or renewals or replacements
of such sums in any currency; and (ii) all other sums in any currency from
time to time standing to the credit of the company or the credit of any other
person for the company’s benefit whether alone or jointly with other on any
deposit account with the Bank or any other SCB Group Company including
additions to or renewals or replacements of such sum, and all interest from time to time accruing or payable
on the sums specified in (i) and (ii) above; 2) By
assignment: All Deposits held with any SCB Group Company Existing Amount: US$12,900 Mortgagee: Standard Chartered Bank
(Hong Kong) Ltd., Hong Kong. |
To secure the payment or discharge of all moneys,
obligations and liabilities |
|
20-12-2011 |
Instrument: Deposit Deed Property: By way of a first fixed charge and as a continuing
security for the Obligations, the Company charges and assigns absolutely all
its rights, title to and interest in the Accounts and all Deposits from time
to time in the Accounts and/or comprising the Accounts maintained with
Citibank N.A., any branch and/or Citibank (Hong Kong) Ltd. Mortgagee: Citibank N.A., Hong Kong Branch. |
All moneys |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.92.93 |
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Euro |
1 |
Rs.68.03 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.