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MIRA INFORM REPORT
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Report No. : |
489918 |
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Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
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Name : |
NEWSPRINT PRODUCTION GROUP LIMITED |
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Registered Office : |
20/F., Chaiwan Industrial Centre, 20 Lee Chung Street, Chaiwan |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.03.2000 |
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Com. Reg. No.: |
30781016 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Hangtag, Labels, Hangers, Packaging Materials. |
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No. of Employees : |
18 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 reexports, 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 continues to
link its currency closely to the US dollar, maintaining an arrangement
established in 1983.
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 aided a more rapid initial recovery 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 9.4% of
total system deposits in Hong Kong by the end of 2015. 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. Mainland
visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million,
reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong
has also established itself as the premier stock market for Chinese firms
seeking to list abroad. In 2015, mainland Chinese companies constituted about
51% of the firms listed on the Hong Kong Stock Exchange and accounted for about
62.1% 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. 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, which took effect in
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.
Credit expansion and a tight housing supply have caused Hong Kong
property prices to rise rapidly; consumer prices increased 2.6% in 2016, but
slowed to 2.0% in 2017. Lower- and middle-income segments of the population are
increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most
evident in the banking and finance sector. Initiatives like the Hong
Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong
Shanghai Gold Connect are all important steps towards opening up the Mainland’s
capital markets and has reinforced Hong Kong’s leading role as China’s offshore
RMB market. Additional connect schemes from bonds to commodities and other
investment products are also under exploration by Hong Kong authorities.
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Source
: CIA |
Note: The subject occupies the whole 20th floor of
the industrial centre.
Company
name & address
NEWSPRINT
PRODUCTION GROUP LIMITED
ADDRESS: 20/F., Chaiwan Industrial
Centre, 20 Lee Chung Street, Chaiwan, Hong Kong.
PHONE: 852-2558 8252
FAX: 852-2558 4252
E-MAIL: raphaellemarchi@newsprintgroup.com
hk@newsprintgroup.com
MANAGEMENT
Managing Director: Mr.
Jean-Christophe Marchi
SUMMARY
Incorporated on: 10th March, 2000.
Organization: Private Limited Company.
Issued Share Capital: HK$1,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 18.
Main Dealing Banker: Citibank,
N.A., Hong Kong.
Banking Relation: Satisfactory.
Name
NEWSPRINT
PRODUCTION GROUP LIMITED
ADDRESS
Registered Head
Office:-
20/F., Chaiwan Industrial Centre, 20 Lee Chung Street, Chaiwan,
Hong Kong.
Associated
Companies:-
Hangamania (Guangzhou) Ltd., China.
Hangamania Ltd., Hong Kong.
Newsprint Etiketleme Paketleme San. Ve Tic. Ltd. Sti, Turkey.
Newsprint Europe, France.
Newsprint Packaging (Bangladesh) Ltd., Bangladesh.
Newsprint Packaging India Pvt. Ltd., India.
BUSINESS
REGISTRATION NUMBER
30781016
COMPANY
FILE NUMBER
0707392
MANAGEMENT
Managing Director: Mr.
Jean-Christophe Marchi
ISSUED
SHARE CAPITAL
HK$1,000,000.00
SHAREHOLDERS
(As per registry dated 10-03-2017)
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Name |
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No. of shares |
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Jean-Christophe MARCHI |
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999,500 |
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Raphaelle F.M.C. |
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500 |
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–––––––– |
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Total: |
1,000,000 ======= |
DIRECTORS
(As per registry dated 01-09-2017)
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Name (Nationality) |
Address |
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Raphaelle F.M.C. CATTIN |
2/F., 47A Shouson Hill Road, Hong Kong. |
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Jean-Christophe MARCHI |
2/F., 47A Shouson Hill Road, Hong Kong. |
SECRETARY
(As per registry dated 10-03-2017)
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Name |
Address |
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CHONG Nga Chun |
Flat A, 23/F., Block 2, La Cite Noble, 1 Ngan O Road, Tseung Kwan O,
New Territories, Hong Kong. |
HISTORY
The subject was incorporated on 10th March, 2000 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Handy Weekly
Ltd., name changed to the present style on 3rd May, 2003.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Hangtag,
Labels, Hangers, Packaging Materials.
Employees: 18.
Commodities Imported: China, other
Asian countries, etc.
Markets: Asian
countries, Europe, North America, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL
INFORMATION
Issued Share Capital: HK$1,000,000.00
Profit or Loss: Made
small profits in past years.
Condition: Business is active.
Facilities: Making rather active use of general
banking facilities.
Payment: No Complaints.
Commercial Morality: Satisfactory.
Banker: Citibank, N.A., Hong Kong.
Standing: Satisfactory.
GENERAL
Newsprint Production Group Limited is jointly owned by Mr.
Jean-Christophe Marchi, holding 99.95% stake, and Mr. Raphaelle F.M.C. Cattin,
just holding 0.05%.
They are also directors of the subject.
Being Hong Kong ID holders, they have got the right to reside in Hong
Kong.
The subject is a global provider of packaging and accessories for the
garment industry. It provides its
customers with a wide range of complementary items for their garment products.
The subject belongs to the Newsprint Group.
The subject is specialized in manufacturing of various complementary
packaging items and accessories related to the garment and underwear
business. Its originality is to be able
to offer tailor made solutions to its customers with high standards in terms of
quality and services.
The followings are the products of the subject:-
Barcode hangtags printing with ultra-fast production on demand.
Printed labels, woven labels, metallic tags, hangtags, stickers, thermos
transfer labels, care labels, etc.
Paper boxes, plastic boxes, PVC products, etc.
Hangers, plastic hangers, hooks, other injected plastic items, etc.
Other Products such as rubber items, displays, etc.
The subject’s products are chiefly manufactured by its associated
factory in Hong Kong (located at the same address).
Its other print shops are located in India (Delhi), Bangladesh (Dhaka)
and France (Lille). All its products
have got Oeko-Tex, REACH, FSC certifications.
The subject has had an associated company in Guangzhou, Guangdong
Province, China known as Hangamania (Guangzhou) Ltd.
The subject’s associated company in India is known as Newsprint
Packaging India Pvt. Ltd. which was incorporated on 28th July, 2009.
The following companies are of the customers of Newsprint Production
Group: Tommy Hifiger, Hello Kitty, ELLE, etc.
The Group also provides customers with the following services:
In-House Product Development Service
In-House Sampling Service
Dedicated and Personalized Web Ordering Platform
Innovation & Customized Manufacturing Process
Co-Packing, Logistic, Storage & Distribution Services
Now, the Newsprint Group wholly owns 5 shops in the world: Hong Kong,
India, Bangladesh, France and Turkey.
Delivering to more than 3,000 Garments Manufacturers in Asia &
Europe every year, the Newsprint Group is a significant Group engaged in
garment accessories.
The business of the subject is chiefly handled by the two shareholders
and the secretary.
The business of the Group is active.
As the history of the subject is about 18 years in Hong Kong, on the
whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.27 |
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1 |
INR 89.72 |
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Euro |
1 |
INR 79.52 |
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HKD |
1 |
INR 8.22 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRA |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.