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Report No. : |
342432 |
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Report Date : |
30.09.2015 |
IDENTIFICATION DETAILS
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Name : |
SACMI HONG KONG LTD. |
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Registered Office : |
Room A & B, 16/F., Neich Tower, 128 Gloucester Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.07.1991 |
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Com. Reg. No.: |
15242158 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of All kinds of machinery and equipment. |
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No. of Employee : |
12. (Hong Kong) |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 internationalTRADE 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 |
SACMI HONG KONG LTD.
ADDRESS: Room A & B,
16/F., Neich Tower, 128 Gloucester Road, Wanchai, Hong Kong.
PHONE: 852-2598
8373, 2598 8801
FAX: 852-2598
5132, 2598 7917, 2598 0950
E-MAIL: sacmihk@sacmihk.com
MANAGEMENT:
General Manager: Mr. Mauro Masini
Incorporated on: 2nd July, 1991.
Organization: Private Limited
Company.
Issued Share Capital: HK$6,750,000.00
Business Category: Machinery
Trader.
Group Turnover: €1,196
million. (FY2014)
Employees: 12. (Hong Kong)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:
Room A & B, 16/F., Neich Tower, 128 Gloucester Road, Wanchai,
Hong Kong.
Foshan Commercial
Branch:-
Xingye North Road, North Park of Nanhai Economic Development Zone,
Shishan Town, Nanhai District, 528222 Foshan City, Guangdong Province, China.
[Tel: 86-757-8120 6111, 8120 6100
Fax: 86-757-8120 6199
E-mail: info@sacmi.cn]
Holding Company:-
Sacmi Imola S.C.
Via Selice Provinciale 17/A, 40026 Imola, Bologna, Italy.
[Tel: 39 0542 607111; Fax: 39
0542 642354]
Associated/Affiliated
Companies:-
Sacmi Group of Companies
Alpha Ceramics GmbH, Germany.
Carle & Montanari U.S.A. Inc., USA.
Carle & Montanari-OPM S.p.A., Italy.
CMC, Italy.
CMFIMA S.r.l., Italy.
Cosmec S.r.l., Italy
Eurofilter S.p.A., Italy.
Gaiotto Automation S.p.A., Italy.
Hayes Machine Co. Inc., USA.
IN.TE.SA S.p.A., Italy.
Iprel Progetti S.r.l., Italy.
Italiansped Ltd., Russian Federation.
Italiansped S.p.A., Italy.
Keratech S.p.A., Italy.
Laeis (Dalian) Trading Co. Ltd., China.
Laeis GmbH Beijing Representative Office, China.
Laeis GmbH, Luxembourg.
Molds & Dies Egypt, Egypt.
Molds & Dies Ltd., USA.
Nuova Sima S.p.A., Italy.
OOO Sacmi Mosca Ltd., Russian Federation.
P.T. Molds & Dies Indonesia, Indonesia.
Pet Projecta S.r.l., Italy.
Protesa S.p.A., Italy.
Riedhammer GmbH, Germany.
Riedhammer Japan Co. Ltd., Japan.
Sacmi (Changshu) Machinery Equipment Co. Ltd., China.
Sacmi (Shanghai) Machinery Equipment Co. Ltd., China.
Sacmi Beverage de Mexico S.A. de C.V., Mexico.
Sacmi Beverage Venezuela C.A., Venezuela.
Sacmi Carpmec S.p.A., Italy.
Sacmi de Mexico S.A. de C.V., Mexico.
Sacmi Deutschland GmbH, Germany.
Sacmi do Brasil Industria e Comercio Ltda., Brazil.
Sacmi Engineering (India) Pvt. Ltd., India.
Sacmi Filling S.p.A., Italy.
Sacmi Forni S.p.A., Italy.
Sacmi Iberica S.A., Spain.
Sacmi Imola Moscow Representative Office, Russia.
Sacmi Impianti Regional Representative Office, Indonesia.
Sacmi Impianti S.A. Argentina, Argentina.
Sacmi Impianti S.p.A., Italy.
Sacmi Iran Sazeh Ceramic & Material Iranian Co., Iran.
Sacmi Istanbul Sanayi Ve Tic. Ltd. Sti., Turkey.
Sacmi Machinery (Foshan Nanhai) Co. Ltd., China.
Sacmi Machinery Korea Co. Ltd., Korea.
Sacmi Middle East, UAE.
Sacmi Moldes & Dies Mexico S.A. de CV, Mexico.
Sacmi Molds & Dies Pars Co., Iran.
Sacmi Molds & Dies S.p.A., Italy.
Sacmi North West Central Africa SA, Morocco.
Sacmi Packaging S.p.A., Italy.
Sacmi Polska Sp. z o.o., Poland.
Sacmi Portugal, Portugal.
Sacmi Service S.p.A., Italy.
Sacmi Singapore Pte. Ltd., Singapore.
Sacmi South Africa, South Africa.
Sacmi Thailand Co. Ltd., Thailand.
Sacmi USA Ltd., USA.
Sacmi Verona S.p.A., Italy.
Sacmi Vietnam, Vietnam.
Sacmi West Europe Beverage Technology, France.
Sama Maschinenbau GmbH, Germany.
Sami De Mexico Divisione Logistica, Mexico.
Surface Inspection, UK.
TLR Italia S.r.l., Italy.
TLR Tech Lease & Rent SA, Switzerland.
15242158
0316057
General Manager: Mr. Mauro Masini
Executive Secretary: Ms. Pennie
Ko
Financial Manager: Mr. Roger Lee
GM Assistant: Ms. Jennifer Yeo
Sales Manager: Mr. Li Qiang Hui
HK$6,750,000.00
(As per registry dated 02-07-2015)
|
Name |
|
No. of shares |
|
Sacmi Imola S.C. Via Selice Provinciale 17/A, 40026 Imola, Bologna, Italy. |
|
6,750,000 ======= |
(As per registry dated 02-07-2015)
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Name (Nationality) |
Address |
|
Stefano FOSCHINI |
Via Malpighi, 29-48018 Faenza (RA), Italy. |
|
Giovanni LANCIERI |
Via Tinti nr. 9, 40026 Imola (Bologna), Italy. |
|
Valerio GUERRINI |
Via Don Minzoni G., 14-48010 Fusignano (RA), Italy. |
(As per registry dated 02-07-2015)
|
Name |
Address |
Co. No. |
|
Tricor Strath Ltd. |
Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong. |
0004873 |
The subject was incorporated on 2nd July, 1991 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Tarsel Ltd.,
name changed to the present style on 9th January, 1992.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer and Exporter.
Lines: All kinds of
machinery and equipment.
Employees: 12.
(Hong Kong)
160. (China)
Commodities Imported: Imported from
Italy, Europe, US
Markets: Hong Kong, China,
other Asian countries, Europe, North America
Group Turnover: €1,030 million (FY2010)
€1,303 million (FY2011)
€1,243 million (FY2012)
€1,227 million (FY2013)
€1,196 million (FY2014)
Terms/Sales: L/C or as per
contracted.
Terms/Buying: As per contracted.
The Italian Chamber of Commerce in Hong Kong and Macao, Hong Kong.
Issued Share Capital: HK$6,750,000.00
Group EBIT: € 73 million
(FY2010)
€124 million (FY2011)
€109 million (FY2012)
€120 million (FY2013)
€111 million (FY2014)
Group Net Worth: €548
million (FY2010)
€572 million
(FY2011)
€585 million
(FY2012)
€593 million
(FY2013)
€601 million
(FY2014)
Profit or Loss: Making a small
profit every year.
Condition: Keeping in an
active condition.
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.
Sacmi Hong Kong Ltd. formerly was a wholly-owned subsidiary of H.P.S.
S.p.A. [HPS] which was an Italy-based firm.
Now, the subject’s holding company has been changed to Sacmi Imola S.C.
[Sacmi Imola] which is also an Italy-based firm. The subject is a member of the Sacmi Group.
The subject, through its representative offices in China and Vietnam
(Hanoi and Hochiminh), is promoting sales, marketing and after-sales services
for and on behalf of the parent company — Sacmi Imola which is a leading
manufacturer of machinery and complete plants for ceramic tiles, sanitary ware,
tableware and refractory industries, as well as closure, filling, labelling and
packing industries.
The subject’s services, including also the technical and technological
assistance to assembly and start-up and original Sacmi spare parts warehouse,
are mainly carried out in China, Vietnam, Japan, South Korea and Taiwan. Maintenance, technological assistance and
after-sales are provided through the workshop and the laboratory of the Foshan
office, Guangdong Province, China which now has about 160 employees working in
a facility of 2,500 sq.m.
The Foshan office is formally known as Sacmi Hong Kong Ltd. Foshan
Commercial Branch. Another firm known as
Sacmi Machinery (Foshan Nanhai) Co. Ltd. which is also a member of the Sacmi
Group is also located at the Foshan office.
The subject is engaged in providing customers with after-sales services
in China. It has set up representative
offices in Hanoi and Hochiminh of Vietnam, besides the Foshan office.
The Group also has set up a company in Shanghai known as Sacmi
(Shanghai) Machinery Equipment Co. Ltd.
The Group’s Foshan company has then become the headquarters for the
Ceramic field while Shanghai is the headquarters for the Packaging field.
The subject is the regional office of Sacmi Group and the parent company
is Sacmi Imola. Sacmi Imola was founded
in 1919 and its activities include complete turn-key plants for ceramic tiles,
sanitary ware, tableware, refractory and packaging fields, including machinery
manufacturing, complete plants supply, spare parts production and supply,
technical/technological assistance and know-how.
While the Group’s core business has traditionally been – and remains –
the design and construction of machines and complete plants for the ceramic
industry, Sacmi has steadily branched out into other areas and now has four
operating divisions, consisting of companies specialised in cutting-edge
technologies:-
Packaging;
Ceramics;
Food; &
Automation & Service.
Today, the Sacmi Group has production plants, distribution companies and
service companies in 29 countries and the parent company in Imola (Bologna,
Italy) now controls more than 75 firms.
This far-reaching global presence explains why over 85% of Group sales
come from exports.
The Group has made a restructuring plan.
This strategic restructuring plan has made Sacmi Imola the new
shareholder of all the companies in which HPS previously had part ownership,
thus simplifying the Group’s corporate structure which, before this operation,
was a three-level affair (Sacmi Imola, HPS, Subsidiaries). Following the merger, the structure has just
two levels (Sacmi Imola, Subsidiaries).
Operational as of 1st September 2014, Sacmi Service acquired the
“Services” branch of HPS, consisting of about 70 employees. Its annual sales in 2014 (8 months under HPS
management and the other four under Sacmi Service) were about EUR 8
million. Performance was in line with
Services sales in 2013.
Sacmi Imola is an international group manufacturing machines and
complete plants for the Ceramics, Beverage and Packaging, Processing and
Plastics industries – markets in which it is a recognized worldwide leader.
Already world market leader in the ceramic machinery industry, Sacmi has
in fact significantly contributed – with deep product and process innovations –
to the development of avant-garde solutions for the beverage industry.
The 2014 Group total sales amounted to €1,196 million, decreased by 2.5%
as compared with €1,227 million in 2013.
Its EBIT was €110 million, decreased by 7.5% as compared with €120
million in FY 2013.
For the year ended 2014, Sacmi Group has about 3,917 employees in
82 companies and more than 3,000 clients all over the world.
The subject is fully supported by the Sacmi Group.
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.18 |
|
|
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
ANK |
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 |
|
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.