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MIRA INFORM REPORT
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Report No. : |
487048 |
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Report Date : |
27.01.2018 |
IDENTIFICATION DETAILS
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Name : |
SACMI HONG KONG LIMITED |
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Registered Office : |
Room A & B, 16/F., Neich Tower, 128 Gloucester Road, Wanchai |
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Country : |
Hongkong |
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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 Employees : |
8 (Hongkong) |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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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Hongkong |
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 |
HONGKONG - 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 |
Company
Name And Address
SACMI HONG KONG
LIMITED
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
SUMMARY
Incorporated on: 2nd July, 1991.
Organization: Private Limited Company.
Issued Share Capital: HK$6,750,000.00
Business Category: Machinery
Trader.
Group Turnover: €1,394 million (FY2016)
Employees: 8. (Hong Kong)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
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
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
Defranceschi 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.
Mectiles Italia S.r.l., Italy.
Molds & Dies Egypt, Egypt.
Molds & Dies Ltd., USA.
Nuova Sima S.p.A., Italy.
Officina CMC S.r.l., 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 Iberica S.L., Spain.
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 (Pty) Ltd., 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.
Tecnos S.r.l., Italy.
TLR Italia S.r.l., Italy.
TLR Tech Lease & Rent SA, Switzerland.
X-Tech S.r.l., Italy.
etc.
BUSINESS
REGISTRATION NUMBER
15242158
COMPANY
FILE NUMBER
0316057
MANAGEMENT
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
ISSUED
SHARE CAPITAL
HK$6,750,000.00
SHAREHOLDER
(As per registry dated 02-07-2017)
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Name |
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No. of shares |
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Sacmi Imola S.C. Via Selice Provinciale 17/A, 40026 Imola, Bologna,
Italy. |
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6,750,000 ======= |
DIRECTORS
(As per registry dated 02-07-2017)
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Name (Nationality) |
Address |
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Stefano FOSCHINI |
Via Basiaghe 1/G, Imola (BO), cap.40026, Italy. |
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Valerio GUERRINI |
Corso Emaldi n.59 interno 2, Fusignano (RA), cap.48010,
Italy. |
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Luca TAMBURINI |
Via G. Pulicari 41, Lugo (RA), 48022, Itlay. |
SECRETARY
(As per registry dated 02-07-2017)
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Name |
Address |
Co. No. |
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Tricor Strath Ltd. |
Level 54, Hopewell Centre, 183 Queen’s Road East, Hong
Kong. |
0004873 |
HISTORY
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.
OPERATIONS
Activities: Importer
and Exporter.
Lines: All
kinds of machinery and equipment.
Employees: 8. (Hong Kong)
170. (China)
Commodities Imported: Imported
from Italy, Europe, US, etc.
Markets: Hong
Kong, China, other Asian countries, Europe, North America, etc.
Group Turnover: €1,243
million (FY2012)
€1,227 million (FY2013)
€1,196 million (FY2014)
€1,354 million (FY2015)
€1,394 million (FY2016)
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
MEMBERSHIP
The Italian Chamber of Commerce in Hong Kong and Macao,
Hong Kong.
FINANCIAL
INFORMATION
Issued Share Capital: HK$6,750,000.00
Group EBIT: €109
million (FY2012)
€120 million (FY2013)
€111 million (FY2014)
€120 million (FY2015)
€136 million (FY2016)
Group Net Worth: €585
million (FY2012)
€593 million (FY2013)
€601 million (FY2014)
€621 million (FY2015)
€639 million (FY2016)
Profit or Loss: Making
a small profit every year.
Condition: Keeping in an active manner.
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.
GENERAL
Sacmi Hong Kong
Limited 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 offering 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
subject’s 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 of
the followings:-
· Packaging;
· Ceramics;
· Food; &
· Automation & Service.
The Sacmi Group has over
80 companies in 28 countries, production plants, distribution firms and service
ones controlled by the parent company in Imola.
Over 89% of Group sales come from exports. The Sacmi Group provides efficient assistance
and services all over the world through its companies Global Network.
In 2016 the Group’s
total sales amounted to €1,394 million, increased by 3.0% as compared with
€1,354 million in 2015. Its EBIT was
€136 million, increased by 13.3% as compared with €120 million in FY 2015.
In 2016 the Group’s
export quotas accounted for about 85% of all output, with about two thirds of
SACMI products and services being sold outside Europe. In parallel, 2016 Italy generated sales in
the order of €200 million some 15% of
all SACMI Group revenues.
For the year ended
2016, Sacmi Group had 4,329 (2015: 4,180) employees.
The subject is fully
supported by the Sacmi Group. History in
Hong Kong is over 26 years and six months.
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 63.50 |
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1 |
INR 90.92 |
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Euro |
1 |
INR 79.07 |
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HKD |
1 |
INR 8.14 |
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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VIV |
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Report Prepared
by : |
NIT |
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
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
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.