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Report No. : |
320892 |
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Report Date : |
08.05.2015 |
IDENTIFICATION DETAILS
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Name : |
MACPI GROUP (HK) LTD. |
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Registered Office : |
Unit 903, 9/F., Kwong Sang Hong Centre, 151-153 Hoi Bun Road, Kwun Tong, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
16.07.2003 |
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Com. Reg. No.: |
33767043 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of Garment Manufacturing Machines
and Equipment. |
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No. of Employees : |
9 |
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 : |
Satisfactory |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 40.7 million
in 2013, 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 48.5% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9%
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. As of year-end 2014, the Democracy
protests that began in late September probably will have some adverse effects
on economic growth, particularly retail sales.
|
Source
: CIA |
MACPI
GROUP (HK) LTD.
ADDRESS: Unit 903, 9/F., Kwong Sang
Hong Centre, 151-153 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2423
6801~2, 2992 0058
FAX: 852-2900
7633
E-MAIL: info@macpi.com.hk , msardini@macpi.com
General Manager: Mr. Armando Raccagni
Incorporated on: 16th July, 2003.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Garment
Manufacturing Machinery and Equipment Trader.
Employees: 9.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
Registered Head
Office:-
Unit 903, 9/F., Kwong Sang Hong Centre, 151-153 Hoi Bun
Road, Kwun Tong, Kowloon, Hong Kong.
China Service
Centre:-
MACPI Service Centre
Dongguan City, Guangdong Province, China.
[Tel: 86-769-8371
0177
Fax: 86-769-8371
0355
E-mail: celo.macpi@gmail.com]
Holding Company:-
MACPI S.r.l., Italy.
Associated
Companies:-
MACPI Group of Companies
Carfin S.r.l., Italy.
Europlaco S.A., Spain.
FIMAS S.r.l., Italy.
Finsar S.r.l., Italy.
IMA S.p.A, Italy.
MACPI Group (Dongguan) Service Centre, China.
MACPI Group HK Lanka Pvt. Ltd., Sri Lanka.
MACPI Group S.p.A, Italy.
MACPI S.p.A., Italy.
MACPI Trading (India) Private Ltd., India.
Shanghai MACPI Investment & Management Co. Ltd.,
China.
Shanghai Manfield Garment Machinery Co. Ltd., China.
etc.
33767043
0853660
General Manager: Mr. Armando Raccagni
Contact Person: Mr. Mirella Sardini
HK$10,000.00
(As per registry
dated 16-07-2014)
|
Name |
|
No. of shares |
|
Carfin S.r.l. No. 9, Via Piantada, Palazzolo Sull’Oglio (BS), Zip
25036, Italy. |
|
100 |
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Finsar S.r.l. No. 2, Corso Monforate, Zip 20122, Milan (Mi), Italy. |
|
100 |
|
MACPI S.r.l. No. 9, Via Piantada, Palazzolo Sull’oglio (BS), Zip 25036,
Italy. |
|
9,800 |
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|
|
–––––– |
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Total: |
10,000 ===== |
(As per registry
dated 16-07-2014)
|
Name (Nationality) |
Address |
|
Elena CARTABBIA |
Via Lombardia 32-D, Sarnico (Bergamo), Italy. |
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Paolo CARTABBIA |
Via Lombardia 32-C, Sarnico (Bergamo), Italy. |
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Luca MOSSO |
Via S. Anna, 10/B, 25030 Adro (BS), Italy. |
(As per registry
dated 16-07-2014)
|
Name |
Address |
Co. No. |
|
A Bookkeeper & Secretary Ltd. |
Room 403, 4/F., Hang Seng Yuen Long Building, 91-93
Castle Peak Road, Yuen Long, New Territories, Hong Kong. |
0743170 |
The subject was
incorporated on 16th July, 2003 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the subject
was located at 8/F., LMK Development Estate, 10‑16 Kwai Ting Road,
Kwai Chung, New Territories, Hong Kong, moved the present address in April,
2013.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer
and Exporter.
Lines: All
kinds of garment manufacturing machines and equipment.
Brand Name: MACPI, MACPI JOINT.
Employees: 9.
Commodities Imported: Italy,
other European countries, etc.
Markets: China,
Japan, other Asian countries, Europe, North America, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Hong Kong Intimate Apparel Industries’ Association Ltd.,
Hong Kong.
Issued Share Capital: HK$10,000.00
Indebtedness: US$50,000.00
(Total amount outstanding on all mortgages and charges as per last Annual Return dated 16-07-2014)
Mortgage or Charge:
(See attachment)
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
manner.
Facilities: Making active use of general
banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Very Good.
MACPI Group (HK) Ltd.
is almost a wholly-owned subsidiary of MACPI S.r.l. [MACPI] which is an
Italy-based firm.
The subject is
trading in all kinds of garment manufacturing machinery and equipment. All the products bear the brand name “MACPI”. The subject is a member of the MACPI Group.
The president and CEO
of the MACPI Group is Paolo Cartabbia.
Currently, the
subject is operating a Service Centre in Dongguan City, Guangdong Province,
China. The Service Centre began operation in 2004. It is a supporting centre for all kinds of
bonding equipment sold by the Group.
The subject’s main
associated company Shanghai Manfield Garment Machinery Co. Ltd. [Shanghai
Manfield] is in Shanghai, China.
Shanghai Manfield is engaged in manufacturing bonding machines. Products
are chiefly marketed in China, other Asian countries, and Europe.
MACPI is famous for
its pressing equipment which is specialized for the garment manufacturing
industry.
MACPI Group, has been
a significant firm in Italy for 52 years, is a conglomerate of several
divisions. Its companies are operating in the garment industry. MACPI is able to satisfy the most demanding
needs for finishing, bonding, cutting and laundry through a wide range of
machines and equipments. The constant
search for innovative technology make MACPI a reliable and trustable partner
and its professional teams are proposing to potential end-users a wide range of
solutions based on raw materials knowledge and application know-out for the
developing of products from garments/shoes to automotive industry.
MACPI was established
in 1961. It was founded by Giovanni
Cartabbia and Luciano Sardini. Now, the
MACPI name today is the leader in the garment industry.
MACPI is also famous
for its bonding machines. MACPI bonding
technology covers all fabrics including lingerie, swimwear, sportswear,
etc. Most of its products bear the brand
name MACPI.
Besides MACPI,
the Group has developed two more trade marks: “IMA” and “FIMAS”. “IMA” is the trade mark of CAD/CAM
equipment which is used for garment tailoring and cutting while “FIMAS”
is the trade mark of ironing and pressing equipment for hotels, hospitals,
etc. The products of “IMA” and “FIMAS”
are handled by IMA S.p.A and FIMAS S.r.l. respectively, both are Italy-based
firms. Both firms have become members of
the MACPI Group.
The other main
associated company of the subject MACPI Trading (India) Private Ltd. [India
MACPI] is in India.
India MACPI is an
exporter, wholesaler and supplier of a range of Garment finishing
machines. India MACPI is trading in the
following products:-
·
Automatic Cutter;
·
Automatic Spot Sticking Desk Machine;
·
Cup Moulding Machine;
·
Cutting Room Solution;
·
Electric Steaming;
·
Fusing Machine;
·
Fusing Machine For Shirts;
·
Jacket Finishing Machine;
·
Jeans Finishing Machine;
·
Lingerie Shaping Machine;
·
Shirt Finishing Machine;
·
Steam Generator;
·
Trouser Pressing Machine; &
·
Vacuum Unit.
In order to penetrate
the international market further, the subject has taken part in fairs and
exhibitions held in Hong Kong and other foreign large cities. For instance, it took part in “Asia Apparel
& Textile Machinery Exhibition” [AAMA] 2014” which had been held in Suntec
Singapore International Convention & Exhibition Centre, Singapore during
the period of 14th to 17th October, 2014.
The subject’s
business is handled by Mr. Mirella Sardini who is the contact person.
The subject is fully
supported by the MACPI Group. History in
Hong Kong is about twelve years.
On the whole,
consider the subject good for normal business engagements.
|
Date |
Particulars |
Amount |
|
18-02-2005 |
Instrument: Security Over Deposits Property: A deposit with chargee in the amount of US$50,000.00 or
its equivalent in other foreign currencies under Deposit A/C No. 502-702020,
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 chargee at any of its offices Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
Amount secured – (i) all monies in any currency owing
by the Company to the chargee at any time, actually or contingently, in any
capacity, alone or jointly with any other person; (ii) interest on such
monies, to the date on which the chargee 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 chargee in
perfecting or enforcing the charge |
|
18-02-2005 |
Instrument: Charge Over Securities and Receivables Property: 1) “Securities
means (i) all equity and debt instruments and other instruments commonly
known as securities owned by the Customer, (ii) all dividends, interest,
distributions and other monies derived therefrom and (iii) all accretions,
allotments, and other benefits accruing or arising in respect thereof 2) “Receivables”
means all receivables attributable to any certificate of deposits or other
instruments owned by the Customer and are either held in the name of the
chargee or any nominee of the chargee or are in the possession or control of
the chargee, its nominee or a depositary Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
Amount secured – (i) all monies in any currency owing
by the Customer to the chargee at any time, actually or contingently, in any
capacity, alone or jointly with any other person, (ii) interest on such
monies, to the date on which the chargee receives payment, at the rates
payable by the Customer or which would have been payable but for any
circumstance which restricts payment, (iii) all expenses of the chargee in
making payment in respect of the Securities on behalf of the Customer, as a
result of failure by the Customer to make such payment when due and (iv) all
expenses of the chargee in perfecting or enforcing this Charge |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.88 |
|
|
1 |
Rs.97.21 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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.