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Report No. : |
344579 |
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Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SIAM CANADIAN (ASIA) LTD. |
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Registered Office : |
C/o Sharrow Ltd. Suite 2302, 23/F., Great Eagle Centre, 23 Harbour Road, Wanchai |
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Country : |
Hong Kong
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Date of Incorporation : |
22.01.2008 |
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Com. Reg. No.: |
38895738 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available [We tried to confirm the detailed activity but the same is not
available from any sources] |
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No. of Employees : |
No Employee in Hong Kong NOTE: It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Operating Office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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) |
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Hong Kong |
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 |
HONG KONG - 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 |
Your enquiry given as SIAM CANADIAN (INDIA) LTD., which is not
registered in Hong Kong, is nominally located at your: “c/o Centre O Business
Centre”, “14/F., China Hong Kong Tower, 8 Hennessy Road, Wanchai, Hong
Kong.”
SIAM CANADIAN
(ASIA) LTD.
Registered
Office:-
C/o Sharrow Ltd.
Suite 2302, 23/F., Great Eagle Centre, 23 Harbour Road, Wanchai, Hong
Kong.
[Tel: 852-2525 9991, Fax:
852-2877 6852]
Holding Company:-
Siam Canadian Group Ltd., British Virgin Islands.
Main Office:
Siam Canadian Foods Co., Ltd.
9/F., Suite 283/44, Home Place Office Building, 283 Thong lor 13,
Sukhumvit 55, Klongton-Nua, Wattana, Bangkok, 10110 Thailand.
[Tel: +66-2-185-3311 /
712-7570
Fax: +66-2-185-3317
E-mail: info@siamcanadian.com]
Hong Kong
Associated Company:-
Siam Canadian (India) Ltd.
c/o Centre O Business Centre
14/F., China Hong Kong Tower, 8 Hennessy Road, Wanchai, Hong Kong.
[Tel: 852-3124 2888, Fax:
852-3124 2889]
Associated
Companies:-
Siam Canadian (China) Ltd., China.
Siam Canadian (India) Ltd., India.
Siam Canadian (Indonesia) Ltd., Indonesia.
Siam Canadian (SEA) Ltd., Myanmar.
Siam Canadian (Vietnam) Ltd., Vietnam.
Siam Canadian Group Ltd., Thailand.
38895738
1205879
22nd January, 2008.
HK$10,000.00
(As per registry dated 22-01-2015)
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Name |
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No. of shares |
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Siam Canadian Group Ltd. Portcullis TrustNet Chambers, P.O. Box 3444, Road Town, Tortola,
British Virgin Islands. |
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10,000 ===== |
(As per registry dated 22-01-2015)
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Name (Nationality) |
Address |
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James Peter GULKIN |
62/24 Prompak Place, Sukhumvit 49/6, Klongton Nua, Wattana, Bangkok
10110, Thailand. |
(As per registry dated 22-01-2015)
|
Name |
Address |
Co. No. |
|
Sharrow Ltd. |
Suite 2302, 23/F., Great Eagle Centre, 23 Harbour Road, Wanchai,
Hong Kong. |
0288438 |
The subject was incorporated on 22nd January, 2008 as a private limited liability
company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Siam Canadian (India) Ltd. is not registered in Hong Kong. It is nominally located at “14/F., China Hong
Kong Tower, 8 Hennessy Road, Wanchai, Hong Kong” where is the operating address
of a business centre known as “Centre O Business Centre” [Centre O]. The phone number of Centre O is 852-3124
2888. Siam Canadian (India) Ltd. is one
of its clients.
Since Siam Canadian (India) Ltd. has not registered in Hong Kong, we
provide you with a report on Siam Canadian (Asia) Ltd. which is an associated
company of Siam Canadian (India) Ltd.
The important point is that Siam Canadian (Asia) Ltd. [the subject] is
registered in Hong Kong. Besides, the
subject and Siam Canadian (India) are operated by the same person Mr. James
Peter Gulkin.
The India office of Siam Canadian (India) is located at Viskhapatnam,
India 530017. Its phone number is
91-830-186 9100.
The subject is a wholly-owned subsidiary of Siam Canadian Group Ltd.
[Siam Canadian] which is a BVI-registered firm.
The only director of the subject Mr. James Peter Gulkin is a Canada
passport holder and does not have the right to reside in Hong Kong permanently. Most of the time he is residing in Bangkok,
Thailand.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Suite 2302, 23/F., Great Eagle Centre, 23 Harbour
Road, Wanchai, Hong Kong known as Sharrow Ltd. which is handling its
correspondences and documents. This firm
is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
The headquarters of Siam Canadian are in Bangkok, Thailand. From modest beginnings in Thailand in 1987,
Siam Canadian started off as a small trading company specialized in food
products. It was during this time that
Thailand’s seafood industry was entering a period of dynamic growth, fuelled by
the rapid expansion of aqua cultured shrimp.
In 1992, Siam Canadian opened its first overseas branch in Vietnam. It continued to grow its procurement network
and expand its operations by subsequently opening additional offices in China,
India and Indonesia. Siam Canadian
currently maintains 8 offices across Asia and additionally procures product
from Malaysia, South Korea and Bangladesh.
Siam Canadian later added the International Trading Division to its
Bangkok headquarters to facilitate procurement of products from other countries
where Siam Canadian does not maintain its own offices, particularly in South
America countries including Argentina, Peru, Brazil, North America and Europe.
The associated company of Siam Canadian in China is known as Siam
Canadian (China) Ltd. This company is
located at ‘Room 1806-1807, Building A, I-Fortune Mall, No. 28, South Ren Min
Road, Zhanjiang Province, Guangdong Province, 524001, China. This company is responsible for sourcing
China products and exporting to the other countries.
Currently, the Group
is chiefly trading in the following products:
Its range of products from its diverse geographical locations ensures
that its buyers can use its service as a “One Stop Shop”. Its offices across Asia together with its
strong presence in other countries provides Siam Canadian the ability to market
good quality food products which covers hundreds of different frozen seafood
items.
Siam Canadian sells to importers in over 70 countries on 6
continents. Your given enquiry Siam
Canadian (India) Ltd. is one of the associated companies of Siam Canadian.
The history of the subject in Hong Kong is over seven years and eight
months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
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|
1 |
Rs.100.41 |
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Euro |
1 |
Rs.74.50 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.