MIRA INFORM REPORT

 

 

Report No. :

505312

Report Date :

28.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

HC TRADING MALTA LIMITED

 

 

Registered Office :

No. 1, Level 4, St.George's Building, Elija Zammit Street, Stj 3151, St. Julians

 

 

Country :

Malta

 

 

Financials (as on) :

31.12.2015

 

 

Date of Incorporation :

01.01.1996

 

 

Com. Reg. No.:

C 37587

 

 

Legal Form :

Limited Liability Co. - Private Non-Exempt

 

 

Line of Business :

Manufacture of cement

 

 

No. of Employees :

15 [2015]

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Malta

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

MALTA - ECONOMIC OVERVIEW

 

Malta’s free market economy – the smallest economy in the euro-zone – relies heavily on trade in both goods and services, principally with Europe. Malta produces less than a quarter of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's economy is dependent on foreign trade, manufacturing, and tourism. Malta joined the EU in 2004 and adopted the euro on 1 January 2008.

Malta has weathered the euro-zone crisis better than most EU member states due to a low debt-to-GDP ratio and financially sound banking sector. It maintains one of the lowest unemployment rates in Europe, and growth has fully recovered since the 2009 recession. In 2014 through 2016, Malta led the euro zone in growth, expanding more than 4.5% per year.

Malta’s services sector continues to grow, with sustained growth in the financial services and online gaming sectors. Advantageous tax schemes remained attractive to foreign investors, though EU discussions of anti-tax avoidance measures have raised concerns among Malta’s financial services and insurance providers, as the measures could have a significant impact on those sectors. The tourism sector also continued to grow, with 2016 showing record-breaking numbers of both air and cruise passenger arrivals.

Malta’s GDP growth remains strong and is supported by a strong labor market. The government has implemented new programs, including free childcare, to encourage increased labor participation. The high cost of borrowing and small labor market remain potential constraints to future economic growth. Increasingly, other EU and European migrants are relocating to Malta for employment, though wages have remained low compared to other European countries. Inflation remains low.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Report Subject:

Name:

HC TRADING MALTA LIMITED

Reg.no:

C 37587

Street:

NO. 1, LEVEL 4, ST.GEORGE'S BUILDING, ELIJA ZAMMIT STREET,

Phone:

22484800

Postal Code

STJ 3151

Fax

22484810

City:

ST. JULIANS - MALTA

VAT:

MT17775734

P.O.box:

 

Founded:

01/01/1996

English name:

 

Reg. date

16/12/2005

Formerly known as:

 

Homepage:

www.hctrading.com

 

 

E-mail

info@hctrading.com

 

Company legal form

Limited Liability Co. - Private Non-Exempt

 

Company status

Active

 

 

DIRECTORS/MANAGEMENT

 

Board of directors:

ID-/Reg.no:

Position:

CARL JOHAN OVE MALM

19, VILLA DELFINA,

TRIQ IX-XBIEK, BAHAR IC-CAGHAQ

NAXXAR NXR 5121

MALTA

88032629

DIRECTOR - Swedish

KERIM ERBEN

ISTANBUL EVLERI, A3 BLOK,

DAIRE 06, GOKTURK BELDESI, KEMERBURGAZ,

ISTANBUL 34075

TURKEY

U05988023

DIRECTOR - Turkish

ALI EMIR ADIGUZEL

BEBEK MAH. CEVDETPASA CD.

NO. 26/D2, BESIKTAS,

ISTANBUL

TURKEY

U08230970

DIRECTOR - Turkish

HANDAN KOCATEPE

NESTLE SITESI,

103C BLOK, DAIRE 10,

YENIKOY- ISTANBUL

TURKEY

U04449576

DIRECTOR - Turkish

JAN ROLAND ALBERTH ERIKSSON

89394968

Resigned as DIRECTOR 02.01.2018

RAJARAM MOHAN PRABHU

FLAT 205, 233/1A AI,

QUSAIS 2ND SS,

DUBAI 5562

UNITED ARAB EMIRATES

Z3621720

DIRECTOR - Indian

 

Company secretary

ID-/Reg.no:

History

Borg Olivier John

449763M

 

 

 

NEGATIVE INFORMATION

 

Company Representation

The legal and judicial representation of the company is vested in any two directors or, in addition in any other director and / or person/s, jointly or severally, delegated by the board of directors.

 

Court information and defaulting debts

No registrations

 

Charges

No information available

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Capital

Authorized: 1,547.00 Issued: 1,547.00 Paid up: 1,547.00 USD

Nominal value: 1.24 Share description: Capital is made up of 1,249 'A' Ordinary Shares and 1 'B'

Ordinary Share of USD 1.2376 each. Holders of 'B' Ordinary Shares have the right to vote on

Extraordinary Resolutions but not on Ordinary Resolutions.

 

Shareholders

ID-/Reg.no:

Ownership (%):

Share class

HCT HOLDING MALTA LIMITED

NO. 1, LEVEL 4, ST. GEORGE'S BUILDING,

ELIJA ZAMMIT STREET,

ST. JULIANS

MALTA

C 37555

99.99%

A Class

HEIDELBERGCEMENT TECHNOLOGY CENTER GMBH

BERLINER STRASSE 6,

HEIDELBERG 69120

GERMANY

HRB 335453

0.01%

B Class

 

 

PAYMENT INFORMATION

 

Customer type:

International Customers

 

Export to:

International trade - special agreements

 

Selling terms:

International trade - special agreements

 

Import from:

International trade - special agreements

 

Payment terms:

Unknown

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Parent Company Details:

 Reg.no: C 37555

 Reg. date: 15/12/2005

 Name: HCT HOLDING MALTA LIMITED

 Street: NO. 1, LEVEL 4, ST. GEORGE'S BUILDING, ELIJA ZAMMIT STREET,

 Locality: ST. JULIANS

 Country: MALTA

 

Parent Company Directors:

ERBEN KERIM ID#: U05988023

 ISTANBUL EVLERI, A3 BLOK, DAIRE 06, GOKTURK BELDESI, KEMERBURGAZ, ISTANBUL, TURKEY KOCATEPE HANDAN ID#: U04449576

 NESTLE SITESI, 103C BLOK, DAIRE 10, YENIKOY- ISTANBUL, TURKEY MALM CARL JOHAN OVE ID#:88032629

 22, VILLA FONTAINE, TRIQ DANIEL SAMMUT, LIJA, MALTA ERIKSSON JAN ROLAND ERIKSSON ID#: 89394968

 T7B, NO 18, TIGNE POINT, SLIEMA, MALTA PRABHU MOHAN RAJARAM ID#: Z3621720

 FLAT 205, 233/1A AI, QUSAIS 2ND SS, DUBAI 5562, UAE

 

 

Parent Company Shareholders:

 HEIDELBERGCEMENT AG ID#: HRB 330082

BERLINER STRASE 6, HEIDELBERG 69120, GERMANY

 HEIDELBERGCEMENT INTERNATIONAL HOLDING GMBH ID#: HRB 334775

BERLINER STRASE 6, HEIDELBERG 69120, GERMANY

 

Parent Company - Local Involvements:

 HC Green Trading Limited - Shareholder (Active)

 PALATINA INSURANCE LIMITED Shareholder (Active)

 

Subject Company - Local Director Involvements:

Other involvements of Carl Johan Ove Malm - ID#: 88032629 Swedish Nationality

 HC Green Trading Limited - Director (Active)

 HCT HOLDING MALTA LIMITED - Director (Active)

 HEIDELBERGCEMENT MALTA PRIMA LIMITED - Director (Struck Off)

 PALATINA INSURANCE LIMITED - Director (Active)

 

Other involvements of Kerim Erben - ID#: U05988023 Turkish Nationality

 HC Green Trading Limited - Director (Active)

 HCT HOLDING MALTA LIMITED - Director (Active)

 

Other involvements of JAN ROLAND ERIKSSON - ID#: 89394968 Swedish Nationality

 HC Green Trading Limited - Director (Active)

 HCT HOLDING MALTA LIMITED - Director (Active)

 PALATINA INSURANCE LIMITED - Director (Active)

 

Other involvements of ADIGUZEL EMIR ALI - ID#: U08230970 Turkish Nationality

 HC Green Trading Limited - Director (Active)

 

Other involvements of KOCATEPE HANDAN - ID#: U04449576 Turkish Nationality

 HC Green Trading Limited - Director (Active)

 HCT HOLDING MALTA LIMITED - Director (Active)

 

Other involvements of PRABHU MOHAN RAJARAM - ID#: Z3621720 Indian Nationality

 HCT HOLDING MALTA LIMITED - Director (Active)

 

 

Investments and company relations:

No investments and company relations

 

 

FINANCIAL INFORMATION

 

FINANCIAL STATEMENTS FOR YEAR ENDING 2015

 

ADDITIONAL INFORMATION

 

Company history:

Set up on 16/12/2005 under registration number C 37587.

HC Trading Malta Limited is a limited liability company and is incorporated in Malta.

The immediate parent company of HC Trading Malta Limited is HCT Holding Malta Limited. The ultimate holding company of HC Trading Malta Limited is Heidelberg Cement AG, a company registered in Germany, with its business address at Berliner Strase 6, 69120 Heidelberg, Germany.

HC Trading was founded in 1996 with a mission to take care of the Heidelberg Cement Group's

international seaborne trading activities of cement and related products on world wide scope.

HC TRADING is the International Trading Arm of HeidelbergCement Group with offices in Dubai, Istanbul, Malta, Shanghai, Singapore, Australia, UK, Spain, Brazil, Peru, Bangladesh, Vietnam and Madagascar. HC Trading comprises trading operations in more than 60 countries.

Latest Annual Return filed by the company is made up to 16th December 2017.

 

Company Filed Changes:

02.01.18: Jan Eriksson resigned as director

 24.10.17: HeidelbergCement Technology Centre GmbH transferred 1 ordinary 'B' share, having a nominal value of USD1.2376, to HeidelbergCement International Holding GmbH.

 17.10.16: Dr Bernhard Scheifele has resigned as director.

 01.07.16: Mr Daniel H.J. Gauthier has resigned as director and Dr Bernhard Scheifele was appointed instead.

 23.08.16: Ms Handan Kocatepe has been appointed director of the company.

 11.05.16: Mr Taavi Tapner has resigned as director and Mr Ali Emir Adiguzel, Mr Prabhu Rajaram Mohan have been appointed directors instead.

 17.10.14: Taavi Tapner was appointed as company director.

 16.10.14: The company claimed an extension to eighteen months of the period allowed under Article 182 (2) in relation to the accounting period ending 31st December 2013.

 14.05.14: Juan Bautista Fernandez resigned as company director.

 11.09.13: Jonathan Hugh Wilshaw Gardner resigned from Director.

 09.09.13: Jan Roland Albert Eriksson and Juan Bautista Fernandez were appointed as Directors.

 01.09.12: Ms. Yvette Stevens resigned as company secretary, and Mr. John Borg Olivier was appointed in her stead.

 03.01.11: Mr. Hamdi Sarp Taskapilioglu resigned as director.

 06.05.10: The company terminated the pledge of its securities of The Royal Bank of Scotland plc.

 17.09.07: The company changed its registered address from: No. 3, Level 4, St. George's Building, Elija Zammit Street, St. Julians to: No. 1, Level 4, St. George's Building, Elija Zammit Street, St. Julians, Malta.

 11.12.06: The company changed its registered address from: 7, St. Frederick Street, Valletta to: No. 3, Level 4, St. George's Building, Elija Zammit Street, St. Julian's.

 

Company operation

The company's principal activities, which relate to transactions outside Malta, are to trade in clinker, cement, for granulated blast furnace slag, gypsum, limestone, white cement, oil well cement and all other dry bulk cargo of the cement industry and similar industries.

 

Employees

2015 - 15

2014 - 12

2013 - 12

2012 - 11

2011 – 11

 

Auditors

ID- /Reg.no:

Street:

Ernst & Young Malta Limited

AB/26/84/96

4th Floor, Regional Business Centre, Achille Ferris Street, Msida

 

Key employees:

ID-/Reg.no:

Education:

Position:

No information available

 

 

 

 

Real Estates:

Street:

No. 1, Level 4, St. George's Building, Elija Zammit

Street, St. Julians

City:

San Giljan

Insurance value:

 

Year built:

 

Location:

On a main road

Size:

 

Tenure:

Rented

Real Estate

type:

Registered Address

 

Trade banks:

Bank: Lombard Bank Malta p.l.c., Palazzo Spinola, 67 Republic Str. Valletta.

 

NACE code:

2651: Manufacture of cement

 

Company review:

During the 2015 financial year, the company issued a net final dividend of USD14,332,787 (2014: USD28,464,160).

 

 

NOTES & COMMENTS

N/a

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.78

UK Pound

1

INR 92.89

Euro

1

INR 80.74

Euro

1

INR 80.93

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

SYL

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.