|
|
|
%2013-Mar-2018_files/image007.jpg){kind=small}
%2013-Mar-2018_files/image008.jpg)
%2013-Mar-2018_files/image010.gif)
MIRA INFORM REPORT
|
Report No. : |
497833 |
|
Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
ASIA MINERALS LIMITED |
|
|
|
|
Registered Office : |
20/F., Lee Garden
Five, 18 Hysan Avenue, Causeway Bay |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
23.12.1992 |
|
|
|
|
Com. Reg. No.: |
16667234 |
|
|
|
|
Legal Form : |
Private Limited
Company. |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of all kinds of Mineral Ore. |
|
|
|
|
No. of Employees : |
16 |
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) |
|
Hong Kong |
A1 |
A1 |
|
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 |
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, effective 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 4.4% in 2014, but slowed to 2.9% in 2015. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kongs 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 Mainlands capital markets and has reinforced Hong Kongs leading role as Chinas offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities.
|
Source : CIA |
Company
name and address
ASIA MINERALS
LIMITED
ADDRESS: 20/F., Lee Garden Five, 18
Hysan Avenue, Causeway Bay, Hong Kong.
PHONE: 852-2856 3350, 2586 3321, 2586
3333
FAX: 852-2827 6552, 2511 2481, 2827 1396, 2586 3330
E-MAIL: h.suzuki@smart-alloy.com
MANAGEMENT
Chairman &
Managing Director: Mr. Hirotaka Suzuki
SUMMARY
Incorporated on: 23rd
December, 1992.
Organization: Private
Limited Company.
Issued Share Capital: HK$2,863,127.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 16.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Banking
Relation: Good.
ADDRESS
Registered
Head Office:-
20/F., Lee Garden
Five, 18 Hysan Avenue, Causeway Bay, Hong Kong.
Holding Company:-
Sharprofit Trading
Ltd., Hong Kong. (Same address)
Associated
Companies:-
AML China Ltd.,
China.
AML Europe SAS,
France.
AML Japan Ltd.,
Japan.
AML Jinzhou Resources
Co. Ltd., China.
AML Korea Ltd.,
Korea.
AML Resources (Shenzhen) Co. Ltd., China.
AML Ukraine, Ukraine.
Asia Minerals India
Private Ltd., India.
Asia Minerals
Investment Ltd., Hong Kong. (Same address)
Asia Minerals North
America LLC, USA.
Asia Minerals South
Africa (Pty) Ltd., South Africa.
Asia Minerals Trading Ltd., Hong Kong.
Asia Minerals Zambia
Ltd., Zambia.
CITIC Jinzhou Ferroalloy Works Co. Ltd., China.
IMA Resource Ltd.,
China.
Kudumane Manganese Resources (Pty) Ltd., South Africa.
Mountainous Ltd.,
Hong Kong. (Same address)
Pertama Ferroalloys
Sdn. Bhd., Malaysia.
Sarda Energy & Mineral Ltd., India.
Sichuan Chuantou Emei
Ferroalloy (Group) Co. Ltd., China.
BUSINESS
REGISTRATION NUMBER
16667234
COMPANY
FILE NUMBER
0395821
MANAGEMENT
Chairman &
Managing Director: Mr. Hirotaka Suzuki
Deputy Managing
Director: Mr. Jiang Jian Tao, Adam
ISSUED
SHARE CAPITAL
HK$2,863,127.00
SHAREHOLDERS
(As per registry
dated 23-12-2016)
|
Name |
|
No.
of shares |
|
Mountainous Ltd.,
Hong Kong. |
|
607,600 |
|
Sharprofit Trading
Ltd., Hong Kong. |
|
2,255,527 |
|
|
|
|
|
|
Total: |
2,863,127 |
DIRECTORS
(As per registry
dated 23-12-2016)
|
Name (Nationality) |
Address |
|
Hirotaka SUZUKI |
Unit B, 15/F.,
Monmouth Villa, 3 Monmouth Terrace, Wanchai, Hong Kong. |
|
Setsuo SUZUKI |
Room 2006, 20/F., Park
Square Yokohama, 2 Yoshihama-cho, Naka-ku, Yokohama-shi, Kanagawa 231-0024,
Japan. |
|
JIANG Jian Tao,
Adam |
Suite 1211, 12/F.,
Convention Plaza Apartments, 1 Harbour Road, Wanchai, Hong Kong. |
SECRETARY
(As per registry
dated 23-02-2017)
|
Name |
Address |
Co.
No. |
|
Cheng & Cheng
Corporate Services Ltd. |
Room 1201, 12/F.,
Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong. |
0307222 |
HISTORY
The subject was incorporated
on 23rd December, 1992 as a private limited liability company under the Hong
Kong Companies Ordinance.
Originally the
subject was registered under the name of Stanley Development Ltd., name changed
to the present style on 29th June,
1993.
Formerly the subject
was located at 7/F., Luk Kwok Centre, 72 Gloucester Road, Wanchai, Hong Kong,
moved to the present address with effect from 10th July, 2017.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and
Wholesaler.
Lines: All kinds of mineral
ore, etc.
Employees: 16.
Commodities Imported: China, Korea, Ukraine, South Africa, Australia,
etc.
Markets: China, Japan, Korea,
North America, Taiwan, Western Europe, etc.
Terms/Sales: L/C
or as per contracted.
Terms/Buying: L/C, D/P, or as per contracted.
FINANCIAL
INFORMATION
Issued Share Capital:
HK$2,863,127.00
Mortgage or Charge (Since 2011): (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Business
is active.
Facilities: Making
active use of general banking facilities.
Payment: Regular
Commercial
Morality: Good.
Bankers:-
Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong.
Indover Asia Ltd., Hong Kong.
BNP Paribas, Hong Kong Branch.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
The Bank of Tokyo-Mitsubishi UFJ, Ltd., Hong Kong Branch.
The Korea Development Bank, Singapore Branch.
Maybank Trustees Berhad, Malaysia.
Standing: Very
Good.
GENERAL
Having issued
2,863,127 ordinary shares of HK$1.00 each, Asia Minerals Limited is a joint
venture between the following two firms:-
Mountainous Ltd.,
Hong Kong
.
21%
Sharprofit Trading
Ltd., Hong Kong
79%
The subject commenced
business in 1993. It has set up four
sections:
·
Trading Business (seven companies)
·
Smelting Business (three companies)
·
Mining Business (one company)
·
Mining Advisory Business (one company)
Each section has
certain related companies.
The subject is
specialized in all manganese related business from ores to alloys, metals and
chemicals, etc. It is committed to provide services to
its clients through its global organizations in Asia, Africa, Europe, CIS and
the United States.
The directors of the
subject are two Japanese and a Chinese.
Now, at least two of them are residing in Hong Kong.
The subject is
chiefly trading in manganese ores, manganese and silicon ferroalloys.
Besides, the subject also
trades in Coke, Semi-Coke, Anthracite, Silica Fumes, etc. All these products belong to the carbon
family.
The subject acquired
its first ferro-alloy smelting plant in Inner Mongolia in 2005 and acquired its
second smelting plant in Liaoning Province in 2009.
The subject intends
to become a 20% supplier of manganese to the worlds demand in 2020 through
developing a manganese mine in Kalahari in South Africa and constructing a
greenfield plant of manganese group ferroalloys in Sarawak in Malaysia. The South Africa manganese mine is a joint
venture.
Currently, the
subject has had the following two main projects:-
·
Kudumane Manganese Mine Project, South Africa
The mine is located in Kalahari, Northern Cape Province, South Africa. Commercial scale production commenced in late
2012. Estimated ore reserves are 250
million tons. Products are approximately
1.3 million per year of Grade A ore assaying Mn: 37% to 38%, F4e: 4.5%, P:
0.02% and approximately 0.9 million tonnes per year Grade B ore assaying Mn:
42%, Fe: 7%, P: 0.03%.
·
Sarawak Manganese Group Ferroalloys Plant,
Malaysia
Land preparation work commenced early 2011 at Samalaju Industrial Estate,
Sarawak State, where the subject has been allocated 180 hectare for the plant
construction. Now, this plant is under
normal operation.
The first project in South Africa is managed by Kudumane Manganese Resources (Proprietary) Ltd. [KMR] which is a South
Africa-based company.
The second project in Sarawak is managed by Pertama Ferroalloys Sdn.
Bhd. [Pertama].
The subject via
intermediate holding companies is a major shareholder in KMR and plays a
significant role as a technical and marketing services provider. Bold Moves 1715 (Propriety) Limited and Afris
Manganese (Pty) Ltd are the two partners.
The mining operation
consists of a combination of open pits and underground mining.
Kudumane Manganese
Mine commenced production in the mid of 2013.
The target is to produce 3.0 million tonnes of manganese ore annually.
Pertama is jointly
owned by the subject, Nippon Denko Company Limited, Chuo Denki Kogyo Co., Ltd.,
Shinsho Corporation and Carbon Capital Corporation Sdn. Bhd; while the subject
is the majority shareholder of Pertama.
Construction of the plant started in Q2-2012. It is in full commercial operation in
Q2-2017.
Besides, the subject
keeps a strong relationship with many large steel producers worldwide and
supplies Manganese Alloys to those consumers, some of which are listed below:
1.
South Korea: Hyundai Steel Company, Dongkuk
Steel Mill Co. Ltd., YK Steel Corporation, Korea Iron & Steel Co.
Ltd., Seah Besteel Corporation, Daehan Steel Co., Ltd.;
2.
China: Bao Steel, Angang Steel, Baotou Steel;
3.
United States: Allegheny Ludlum Corporation, SSAB
Alabama Inc., SSAB Iowa Inc., United States Steel Corporation, Steel Dynamics,
Inc.;
4.
EU: ArcelorMittal, ThyssenKrupp Nirosta GmbH,
Compania Espanola de Laminacion, S.L.;
5.
CIS: Novolipetsk Steel (NLMK); &
6.
Middle East: Saudi Iron and Steel Company,
Societe Nationale de Siderurgie S.A., Eregli Iron and Steel Works Company.
7.
Japan: Nippon Steel Corporation, JFE Steel
Corporation, Kobe Steel Ltd., Mitsubishi Steel Mfg Co. Ltd.;
In 2009, the subject
acquired majority stakes of a Manganese smelting plant, Nichiden Jinzhou,
which is located in Liaoning province, China, and formed a joint venture
company named AML Jinzhou Resources Co., Ltd.. In the same year, the subject started selling
its own Manganese ferroalloys products produced by IMA Resource Ltd. in China
market.
The subject is fully
supported by its China associated company Sichuan Chuantou Emei Ferroalloy
(Group) Co. Ltd. which is a rather significant firm in China.
One of the directors
of the subject Jiang Jian Tao, Adam is responsible for the business of the
subjects China associates.
AML Resources (Shenzhen) Co. Ltd., a China-based company, is the trading
arm of the subject in Southern China.
The business of the
subject is chiefly handled by Hirotaka Suzuki.
As the history of the
subject is over twenty-four years and eight months in Hong Kong,
on the whole, consider it good for normal business engagements.
MORTGAGE
OR CHARGE
(Since
2011)
|
Date |
Description
of Instrument |
Mortgagee |
|
04-03-2011 |
Security Agreement over Bank Account |
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
|
08-05-2012 |
Deed of Charge and
Assignment of Receivables |
ING Bank N.V.,
Hong Kong Branch. |
|
07-11-2014 |
Trade Finance
Security Agreement |
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
|
01-12-2015 |
Share Charge |
Maybank Trustees Berhad |
|
01-12-2015 |
Assignment of
Shareholder Loans |
Maybank Trustees Berhad |
|
27-04-2016 |
Charge of Shares in
Kudumane Investment Holding Ltd. |
The Bank of Tokyo-Mitsubishi UFJ Ltd., Hong Kong
Branch. |
|
28-01-2017 |
KIH Shares Charge |
The Korea Development Bank |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.02 |
|
|
1 |
INR 90.12 |
|
Euro |
1 |
INR 80.09 |
|
HKD |
1 |
INR 8.28 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Report Prepared
by : |
TRU |
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.