MIRA
INFORM REPORT
|
Report No. : |
341961 |
|
Report Date : |
25.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
HONG KONG PAPER SOURCES CO., LIMITED |
|
|
|
|
Registered Office : |
Unit 2306B, 23F West Tower, Shun Tak Centre,
168 -200 Connaught Road, Central |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Financials (as on) : |
31.12.2014 (Consolidated) |
|
|
|
|
Date of Incorporation : |
29.11.2011 |
|
|
|
|
Com. Reg. No.: |
1685177 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of paper and paper products. |
|
|
|
|
No. of Employee : |
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 |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Contact Points
|
Company Name (in English): |
Hong Kong Paper Sources Co., Limited |
|
Supplied Name: |
HONG KONG PAPER SOURCES COMPANY LIMITED |
|
Trading Address: |
Unit 2306B-07, 23F West Tower, Shun Tak
Centre, 168 -200 Connaught Road, Central, HK |
|
Supplied Address: |
UNITS NO 2306B AND 2307 23F WEST TOWER SHUN TAK CENTRE 168 -200
CONNAUGHT |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit 2306B, 23F
West Tower, Shun Tak Centre, 168 -200 Connaught Road, Central, HK |
|
Telephone Number: |
+852-2571-2223 |
|
Fax Number: |
+852-2887-8943 |
|
Date of Registration: |
2011-11-29 |
|
Registered Number: |
1685177 |
|
Business Registration No.: |
59204617 |
|
Paid-up Capital: |
HKD 1,000,000 (USD 129,000) = 1,000,000
Shares @ HKD 1 (As of 2015.9, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
64159- Other paper and paperboard, uncoated
(kg) |
|
Principal Activities: |
Trading of paper and paper products, etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-11-29 |
Note: Subject declined to disclose its staff number,
and from other source we can’t obtain the information, either.
History
Subject was incorporated on 2011-11-29 with
the registered number 1685177 as Private Limited Liability Company in Hong
Kong.
Change of Registered Address:
|
Former Address |
Flat A, 9/F, Max Share
Centre, Nos. 367-373 King’s Road, North Point, Hong Kong |
|
Current Address |
Unit 2306B, 23F West Tower, Shun Tak Centre,
168 -200 Connaught Road, Central, HK |
Corporate Structure
Parent Company
|
Name: |
Xiamen C & D Paper & Pulp Co., Ltd |
|
Registered Address: |
24th Floor, Seaside Building, No. 1699, Huandao E. Rd., Siming Dist.,
Xiamen, Fujian, P.R.C. |
|
Tel: |
+86-592-233-7056 |
|
Fax: |
+86-592-211-4612 |
|
Date of Foundation: |
2001-3-22 |
|
Registered Number: |
350200100008751 |
|
Registered Capital: |
CNY 500,000,000 |
|
Legal Representative: |
Mao Lin |
|
Listed at Stock Exchange: |
No |
Ultimate Parent Company
|
Name: |
|
|
Registered Address: |
29th Floor, Seaside Building, No. 1699, Huandao E. Rd., Siming Dist., Xiamen, Fujian, P.R.C. |
|
Date of Registration: |
1998-6-10 |
|
Registered Number: |
350200100004137 |
|
Registered Capital: |
CNY 2,835,200,530 |
|
Legal Form: |
Public Company |
|
Legal Representative: |
Yongfeng Zhang |
|
Listed at Stock Exchange: |
Yes; Stock Code: 600153 |
|
Date of Listed: |
1998-6-16 |
Related Company
|
Name: |
Cheongfuli (Hong Kong) Company, Limited |
|
Address: |
Room A, 9/F., Max Share Center, 367-373,
King’s Road, North Point, HK |
|
Date of Registration: |
|
|
Registered Number: |
0217308 |
|
Business Registration No.: |
12982876 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Xiamen C & D Paper & Pulp Co., Ltd. |
1,000,000 |
100% |
|
Total |
1,000,000 |
100% |
Major Shareholder Information:
|
Name: |
Xiamen C & D Paper & Pulp Co., Ltd |
|
Address: |
22nd Floor, Seaside Building, Xiamen,
Fujian, P.R.C. |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Mao Lin |
|
Address: |
Room 501, No. 110, Houdai Xi Rd., Siming
District, Xiamen, Fujian, P.R.C. |
|
Position: |
Director |
|
Passport Number: |
G53847001 |
|
Issuing Country: |
People’s Republic of China |
|
Date of Appointment: |
2015-3-27 |
|
2 |
|
|
Name: |
Dongfang Cheng |
|
Address: |
Room 504, No.11, Lian Bin Li, Siming
District, Xiamen, Fujian, P.R.C. |
|
Position: |
Director |
|
Passport Number: |
G33950473 |
|
Issuing Country: |
People’s Republic of China |
|
3 |
|
|
Name: |
Xiaohui Zhang |
|
Address: |
Room 301, No. 6, Yu He Li, Siming District,
Xiamen, Fujian, P.R.C. |
|
Position: |
Director |
|
Passport Number: |
G36464692 |
|
Issuing Country: |
People’s Republic of China |
|
4 |
|
|
Name: |
Ample Talent Consultants Limited |
|
Address: |
Unit A, 8/F, CKK Commercial Centre, 289
Hennessy Road, Wanchai, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
620120 |
Former Directors:
|
Name: |
Yongda Zheng |
|
Address: |
Room 903, NO. 15, Yan Wu Rd., Siming District,
Xiamen, Fujian, P.R.C. |
|
Passport Number: |
G38094744 |
|
Issuing Country: |
People’s Republic of China |
|
Date of Resignation: |
2015-3-27 |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Unit 2306B-07, 23F West Tower, Shun Tak
Centre, 168 -200 Connaught Road, Central, HK |
Premises Information
Office address:
|
Address: |
Unit No.2307 On 23/F Of West Tower, Shun Tak
Centre, Nos.168-200 Connaught Road Central, Hong Kong |
|
Owners: |
|
|
Memorial Number: |
14100901990044 |
|
Date of Instrument: |
2014-9-29 |
|
Date of Registration: |
2014-10-9 |
|
Consideration Value: |
HKD 89,354,400.00 (PT.) |
History of Premises Owners’
|
1 |
|
|
Memorial No.: |
14100901990056 |
|
Date of Instrument: |
2014-9-29 |
|
Date of Registration: |
2014-10-9 |
|
Nature: |
Mortgage |
|
In Favor of: |
Hang Seng Bank Limited |
|
Consideration: |
All Moneys (PT.) |
|
2 |
|
|
Memorial No.: |
14072401130034 |
|
Date of Instrument: |
2014-7-21 |
|
Date of Registration: |
2014-7-24 |
|
Nature: |
Agreement for Sale and Purchase |
|
In Favor of: |
Cheongfuli (Hong Kong) Company, Limited |
|
Consideration: |
HKD 89,354,400.00 (PT.) |
|
3 |
|
|
Memorial No.: |
10122402640049 |
|
Date of Instrument: |
2010-12-21 |
|
Date of Registration: |
2010-12-24 |
|
Nature: |
Agreement for Sale and Purchase |
|
In Favor of: |
Choice King Limited |
|
Consideration: |
HKD 64,854,000.00 (PT.) |
Note: (PT.) means part of.
Production Information
Subject is a trader of paper and related products without any production
activities
Purchase Information
Subject purchases products mainly from its group factories in mainland
china.
Sales Information
Subject is engaged in sale of paper and related products
The products sold by subject are printing paper, copy paper, art paper,
carbonless paper, folding box board, duplex board, tissue jumbo roll and so on.
The products are mainly applied to the industries of printing and
packaging
Subject’s sales regions include domestic market, Southeast Asia, Europe
and America
It is introduced that subject’s mainland office is mainly charge of
sales business and customers can
contact its office through +86-13632298746 for business.
Settlements
Purchase
Domestic Purchase
|
Products |
Paper and related products |
|
Payment Terms |
T/T, Cash |
Import
Subject has little import.
Domestic Markets
|
Product |
Paper and related products |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Paper and related products |
|
Selling Terms |
L/C, T/T |
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 found the consolidated financial
information of subject’s ultimate parent company (Xiamen C&D Inc.) from
public files for reference.
Consolidated Balance Sheet
Unit: CNY
|
|
2014-12-31 |
2013-12-31 |
|
Current assets |
|
|
|
Monetary funds |
6,643,012,173.68 |
6,648,193,063.17 |
|
Financial assets which are measured by fair value and their changes are
recorded in current profits and losses |
127,164,941.53 |
125,439,485.51 |
|
Derivative financial assets |
386,927.23 |
17,728,857.31 |
|
Notes receivable |
1,605,124,816.91 |
2,135,296,018.74 |
|
Accounts receivable |
2,983,251,509.34 |
4,851,471,543.48 |
|
Prepayment |
10,120,093,975.37 |
7,543,636,783.52 |
|
Interest receivable |
11,131,656.29 |
1,088,774.41 |
|
Other account receivable |
2,585,346,209.98 |
3,110,112,435.87 |
|
Inventories |
56,697,235,590.98 |
45,553,484,265.80 |
|
Non-current assets due within one year |
211,941,566.95 |
223,879,773.02 |
|
Other current assets |
1,700,330,263.63 |
1,537,119,737.07 |
|
Total current assets |
82,685,019,631.89 |
71,747,450,737.90 |
|
Non-current assets |
|
|
|
Disposable financial assets |
496,385,509.00 |
66,421,730.44 |
|
Long-term receivable |
2,757,083,111.47 |
1,747,440,537.50 |
|
Long-term equity investment |
1,345,430,837.84 |
1,399,080,759.42 |
|
Property investment |
3,357,518,966.39 |
3,053,799,465.87 |
|
Fixed assets |
930,562,574.96 |
729,728,263.96 |
|
Construction in process |
266,104,911.67 |
145,426,362.85 |
|
Intangible assets |
439,512,502.83 |
318,851,325.50 |
|
Goodwill |
220,548,392.16 |
44,426,732.07 |
|
Long-term prepaid expenses |
164,836,799.95 |
108,393,041.09 |
|
Differed income tax assets |
792,366,641.80 |
684,090,650.23 |
|
Other non-current assets |
68,003,909.68 |
-- |
|
Total non-current assets |
10,838,354,157.75 |
8,297,658,868.93 |
|
Total assets |
93,523,373,789.64 |
80,045,109,606.83 |
|
Current liabilities |
|
|
|
Short-term loans |
6,757,570,635.92 |
9,132,358,707.36 |
|
Derivative financial liabilities |
23,588,389.54 |
509,424.00 |
|
Notes payable |
5,225,044,731.93 |
2,681,240,652.64 |
|
Accounts payable |
8,271,748,226.77 |
6,425,029,908.49 |
|
Accounts received in advance |
22,029,220,725.08 |
20,009,077,890.18 |
|
Employee compensation payable |
876,734,456.51 |
890,903,015.35 |
|
Tax payable |
1,408,969,677.11 |
1,232,291,107.70 |
|
Interest payable |
142,796,774.31 |
156,010,097.56 |
|
Other account payable |
4,374,316,234.46 |
4,681,202,195.03 |
|
Non-current liabilities due within one year |
3,770,916,558.40 |
3,310,163,124.69 |
|
Other current liabilities |
575,405,871.47 |
553,054,232.98 |
|
Total current liabilities |
53,456,312,281.50 |
49,071,840,355.98 |
|
Non-current liabilities |
|
|
|
Long-term borrowings |
15,168,340,963.10 |
12,710,924,492.93 |
|
Bond payable |
1,124,695,850.03 |
1,818,151,572.20 |
|
Long-term payable |
1,209,709,811.75 |
8,263,533.23 |
|
Estimated liabilities |
47,965,517.76 |
39,996,407.34 |
|
Deferred income |
34,991,028.58 |
25,219,600.00 |
|
Differed income tax liabilities |
295,115,319.76 |
8,221,980.45 |
|
Other non-current liabilities |
6,800,000.00 |
7,800,000.00 |
|
Total non-current liabilities |
17,887,618,490.98 |
14,618,577,586.15 |
|
Total liabilities |
71,343,930,772.48 |
63,690,417,942.13 |
|
Owners' Equity |
|
|
|
Share capital |
2,835,200,530.00 |
2,237,750,741.00 |
|
Capital reserves |
2,590,490,702.90 |
277,224,696.50 |
|
Other comprehensive income |
111,834,123.65 |
-6,386,277.94 |
|
Surplus reserves |
761,592,524.73 |
738,311,670.53 |
|
Generic risk reserve |
19,393,459.20 |
18,135,859.20 |
|
Undistributed profit |
10,754,514,074.62 |
9,287,176,473.28 |
|
Total equity attributable to the parent company owners |
17,073,025,415.10 |
12,552,213,162.57 |
|
Minority interest |
5,106,417,602.06 |
3,802,478,502.13 |
|
Total owners' equity |
22,179,443,017.16 |
16,354,691,664.70 |
|
Total liabilities and owners' equity |
93,523,373,789.64 |
80,045,109,606.83 |
Consolidated Profit and Loss Account
Unit: CNY
|
|
2014 |
2013 |
|
Operating income |
120,924, 831,032. 88 |
102,067, 799,243. 02 |
|
Operating cost |
110,778, 604,199. 89 |
93, 041,870, 268.43 |
|
Business taxes and surcharges |
2,405,474,774.10 |
1,494,898,062.79 |
|
Selling expenses |
3,076,836,244.04 |
2,841,898,643.01 |
|
General and administrative
expenses |
277,505,213.54 |
252,434,859.79 |
|
Finance expenses |
304,956,056.20 |
28,449,074.84 |
|
Loss on impairment of assets |
-3,393,803.84 |
253,382,984.76 |
|
Add: Incomes from change in fair
value |
-39,115,701.56 |
63,425,636.73 |
|
Investment income |
560,590,189.76 |
304,593,664.82 |
|
Including: Investment income from
associates and joint ventures |
87,192,792.58 |
70,240,773.65 |
|
Operating profit |
4,606, 322,837.15 |
4,522, 884,650.95 |
|
Add: Non-operating income |
151,904,190.19 |
140,400,824.56 |
|
Including: Gain from disposal of
noncurrent assets |
2,282,373.80 |
3,664,388.97 |
|
Less: Non-operating expenses |
74,722,367.86 |
80,767,349.37 |
|
Including: Loss from disposal of noncurrent
assets |
10,943,469.48 |
18,497,097.34 |
|
Profit before tax |
4,683, 504,659.48 |
4,582,518,126.14 |
|
Less: Income tax expenses |
1,309,007,733.83 |
1,190,687,693.58 |
|
Net profit |
3,374, 496,925.65 |
3,391,830,432.56 |
|
Net profit attributable to the
parent company owners |
2,507,192,830.44 |
2,692,975,139.82 |
|
Minority shareholders’ income |
867,304,095.21 |
698,855,292.74 |
|
Other comprehensive income |
117,655, 034.88 |
-8, 171,330. 62 |
|
Total comprehensive income for
the year |
3,492, 151,960.53 |
3,383, 659,101.94 |
|
Total comprehensive income
attributable to owners of the parent company |
2,625,413,232.03 |
2,685,133,448.17 |
|
Total comprehensive income
attributable to minority shareholders |
866,738,728.50 |
698,525,653.77 |
|
Earnings per share |
|
|
|
Basic earnings per share |
0.94 |
1.15 |
Consolidated Cash Flows
Unit: CNY
|
|
2014 |
2013 |
|
Cash flows from operating activities |
|
|
|
Cash received from selling
commodities and providing labor services |
128,246,770,739.06 |
116,875,113,979.24 |
|
Refunds of taxes and levies |
1,077,566,118.80 |
1,023,024,025.52 |
|
Cash received relating to other
operating activities |
1,692,843,901.02 |
2,722,537,874.54 |
|
Subtotal of cash inflows from
operating activities |
131,017,180,758.88 |
120,620,675,879.30 |
|
Cash paid for goods and services |
119,452,634,018.09 |
112,044,272,314.11 |
|
Cash paid to and on behalf of
employees |
1,748,150,297.30 |
1,411,060,443.20 |
|
Cash paid for taxes |
4,617,005,536.24 |
3,537,333,235.34 |
|
Cash paid relating to other
operating activities |
5,671,429,041.35 |
5,549,195,481.23 |
|
Subtotal of cash outflows from
operating activities |
131,489,218,892.98 |
122,541,861,473.88 |
|
Net cash flows from operating
activities |
-472,038,134.10 |
-1,921,185,594.58 |
|
Cash flows from investing
activities |
|
|
|
Cash received from sales of
investments |
478,862,084.72 |
340,825,180.44 |
|
Cash received from return on
investments |
379,162,185.47 |
233,822,206.50 |
|
Net cash received from disposal
of fixed assets, intangible assets and other long-term assets |
83,104,177.85 |
103,207,170.51 |
|
Net cash received from disposal of
subsidiaries or other operational units |
18,395,078.02 |
-- |
|
Cash received relating to other
investing activities |
-- |
862,000.00 |
|
Subtotal of cash inflows from
investing activities |
959,523,526.06 |
678,716,557.45 |
|
Cash paid to acquire fixed assets,
intangible assets and other long-term assets |
690,322,776.63 |
648,950,161.79 |
|
Cash paid on investments |
453,979,055.30 |
746,713,432.24 |
|
Net cash paid for acquisition of
subsidiaries and other business units |
456,324,744.58 |
54,381,759.58 |
|
Other cash paid for investment
activities |
242,013,025.46 |
67,367,345.80 |
|
Subtotal of cash outflows from
investing activities |
1,842,639,601.97 |
1,517,412,699.41 |
|
Net cash flows from investing
activities |
-883,116,075.91 |
-838,696,141.96 |
|
Cash flows from financing
activities |
|
|
|
Cash received from capital
contributions |
3,245,113,340.72 |
1,096,087,712.34 |
|
Including: Cash received from
subsidiary company absorbed investment of minority shareholders' equity |
158,450,000.00 |
1,096,087,712.34 |
|
Cash received from borrowings |
41,921,177,808.42 |
34,646,121,401.25 |
|
Cash received from issuing bonds |
498,000,000.00 |
992,500,000.00 |
|
Subtotal of cash inflows from
financing activities |
45,664,291,149.14 |
36,734,709,113.59 |
|
Repayment of borrowings |
41,538,725,304.51 |
30,205,341,980.85 |
|
Cash paid for distributing
dividends and profits or paying interests |
3,184,261,160.74 |
2,807,212,707.09 |
|
Including: Dividend and profit
paid by subsidiaries to minority shareholders |
27,442,385.25 |
1,500,000.00 |
|
Cash payments relating to other
financing activities |
8,124,018.25 |
3,670,029.98 |
|
Subtotal of cash outflows from
financing activities |
44,731,110,483.50 |
33,016,224,717.92 |
|
Net cash flows from financing
activities |
933,180,665.64 |
3,718,484,395.67 |
|
Foreign exchange rate fluctuation
consequences on cash and cash equivalents |
17,039,305.42 |
71,885,039.41 |
|
Net increase in cash and cash
equivalents |
-404,934,238.95 |
1,030,487,698.54 |
|
Add: Balance of cash and cash
equivalents at the beginning of the year |
6,160,291,661.32 |
5,129,803,962.78 |
|
Balance of cash and cash
equivalents at the end of the year |
5,755,357,422.37 |
6,160,291,661.32 |
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
|
Company Name: |
Hong Kong Paper Sources Co., Limited (the “company”) |
|
Instrument of Creating Mortgage: |
Trade Finance Security Assignment (the
“Assignment”) |
|
Date of Creating Mortgage: |
2013-7-23 |
|
Amount Secured: |
All obligations and liabilities of whatever nature
of the Company owed to the Lender at any time and in any currency and whether
present or future, actual or contingent and whether owed alone or jointly or
severally with or as surety for another and all costs and expenses incurred
by the Lender in connection with the recovery of any of the above or the
enforcement of the Assignment on a full indemnity basis. |
|
Name of Mortgagee: |
RB International Finance (Hong Kong) Limited
(the “Lender”) |
|
Address of Mortgagee: |
Unit 2102, 21/F., Tower 1, Lippo Centre, 89
Queensway, Hong Kong SAR |
|
Description of Property Mortgaged: |
-- |
|
2 |
|
|
Company Name: |
Hong Kong Paper Sources Co., Limited (the “company”) |
|
Instrument of Creating Mortgage: |
Letter of Pledge |
|
Date of Creating Mortgage: |
2013-7-23 |
|
Amount Secured: |
All obligations and liabilities of whatever
nature owed by the Company to the Lender at any time and in any currency and
whether present or future, actual or contingent and whether incurred alone or
jointly with or as surety for another and all costs and expenses incurred by
the Lender in connection with the Pledged Goods and/or Pledged Documents and
the recovery of any of the above. |
|
Name of Mortgagee: |
RB International Finance (Hong Kong) Limited
(the “Lender”) |
|
Address of Mortgagee: |
Unit 2102, 21/F., Tower 1, Lippo Centre, 89
Queensway, Hong Kong SAR |
|
Description of Property Mortgaged: |
Any documents, bills of exchange, negotiable
instruments, documents of title, transport documents, insurance policies,
delivery orders, godown warrants and any other documents which are now or may
in the future be in the Lender’s possession (the “Pledged Documents”) and/or
the goods and produce to which the Pledged Documents relate which are now or
may in the future be in the Lender's possession (the “Pledged Goods”). |
|
3 |
|
|
Company Name: |
Hong Kong Paper Sources Co., Limited (the “company”) |
|
Instrument of Creating Mortgage: |
Charge on Collateral Account |
|
Date of Creating Mortgage: |
2013-7-23 |
|
Amount Secured: |
All moneys and liabilities whatsoever which
now are or at any time hereafter may be due, owing or payable, in any
currency, to the Lender by the Company, actually or contingently, solely or jointly
and/or severally with another or others, as principal or surety, on any
account, with reference to any bill, note or other security, in connection
with any advance, loan, credit, facility, guarantee or indemnity made or
issued to or at the request of the Company, or in any other manner
whatsoever, including commission, discount, all financing, banking, legal and
other fees, costs, charges and expenses whatsoever (on a full indemnity
basis), and also interest on the foregoing, and including, without prejudice
to the generality of the above, all amounts whatsoever which the Facility
provides are to be paid by the Company to the Lender. |
|
Name of Mortgagee: |
RB International Finance (Hong Kong) Limited
(the “Lender”) |
|
Address of Mortgagee: |
Unit 2102, 21/F., Tower 1, Lippo Centre, 89
Queensway, Hong Kong SAR |
|
Description of Property Mortgaged: |
All and any money from time to time standing
to the credit of or earned on such account(s) as shall from time to time be
designated by the Lender as the Company's collateral account(s) with the
Lender in Hong Kong or elsewhere, including, without limitation, all interest
accruing or accrued thereon. |
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
64159- Other paper and paperboard, uncoated (kg)
Unit: HKD/000
|
|
2015.06 |
2015.01~2015.06 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Japan |
110,963 |
4,037 |
512,000 |
22,039 |
|
Holland |
138,271 |
546 |
252,587 |
1,100 |
|
Portugal |
-- |
-- |
72,988 |
587 |
|
Germany |
1,687 |
79 |
108,550 |
6,989 |
|
Italy |
-- |
-- |
1,663 |
23 |
|
The Mainland of China |
193,617 |
3,906 |
1,305,721 |
11,680 |
|
Taiwan |
4,751 |
19 |
192,389 |
1,198 |
|
America |
8,334 |
398 |
60,580 |
2,830 |
|
Exports |
||||
|
Taiwan |
1,514 |
173 |
9,828 |
1,153 |
|
Vietnam |
40,809 |
916 |
47,433 |
1,807 |
|
Burma |
24,001 |
272 |
58,209 |
594 |
|
Cambodia |
14,633 |
113 |
69,585 |
880 |
|
Indonesia |
4,447 |
147 |
35,146 |
983 |
|
The Mainland of China |
374,995 |
12,007 |
1,923,514 |
68,984 |
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 |
|
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 |
|
2015.01 |
348,886 |
4,468 |
307,403 |
311,871 |
+2.8 |
-37,015 |
|
2015.02 |
264,220 |
2,919 |
225,418 |
228,337 |
+7.2 |
-35,884 |
|
2015.03 |
342,319 |
4,013 |
292,100 |
296,113 |
-1.8 |
-46,206 |
|
2015.04 |
331,108 |
4,202 |
287,742 |
291,944 |
+2.2 |
-39,164 |
|
2015.05 |
331,940 |
4,258 |
287,571 |
291,830 |
-4.6 |
-40,110 |
|
2015.06 |
345,302 |
4,158 |
295,361 |
299,518 |
-3.1 |
-45,783 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Address: Unit 2306B and 2307,
23F West Tower, Shun Tak Centre, 168 -200 Connaught Road, Central, HK
We visited the above address and confirmed the
subject locates at it, but we did not find the subject own nameplate listing on
the board.
Unit 2306B and 2307, 23F West Tower, Shun Tak
Centre, 168 -200 Connaught Road, Central, HK
23F West Tower, Shun Tak Centre, 168 -200
Connaught Road, Central, HK
Unit 2306B and 2307, 23F West Tower, Shun Tak
Centre, 168 -200 Connaught Road, Central, HK
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.10 |
|
|
1 |
Rs.100.89 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
ANK |
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.