Your Reference: HLG/DP
Total number of pages: 9
Subscriber no.: 1562
Our reference no.: 1755910 TL/PG
Type of report: Standard
Enquiry on: AK & M
Trading Co Ltd
Unit 1702-4 Lippo
Ctr Tower 2
89 Queensway
Wanchai
Report Date: 20 November 2003
REPORT ON: AK &
M Trading Company Limited
Unit 1702-4,
Lippo Centre
Tower 2, 89 Queensway
H.K.
HONG KONG
CREDIT SCORE: 54 points
(out of 100 possible)
****************************************
| 25| 50| 60|
70| 80| 100|
|caution |insufficient |fair
|normal |good |strong |
SUMMARY:
Founded: 1993
Legal form: Private Limited
Company
Registration date: 19 August 1993
Activity: Importer & Wholesaler
Main products: Plastic Raw
Materials
Staff: 10
Paid-up capital: 3,000,000
Financial situation: Normal
Payments: no complaints
Litigation record: clear
All figures in Hong
Kong Dollars unless otherwise stated.
IDENTIFICATION
Frontline Subject-No.: 324336
Name: AK & M
Trading Company Limited
Business address: Unit 1702-4,
Lippo Centre
Tower 2, 89
Queensway
H.K.
HONG KONG
Registered office: same as above
Phone: 852 2511 0123
Fax: 852 2802 2822
HISTORY AND REGISTRATION
Founding year: 1993
Legal form: Private Limited Company
Registration date:
Company registry number: 445794
Bus. reg. cert.: 18266224-000
Annual return date: 19 Aug 2003
Annual return filed on: 28 Aug 2003
SHARE CAPITAL
Nominal Capital: 3,000,000
divided into
3,000,000
ordinary shares at 1.00
paid-up capital: 3,000,000 of
which paid in cash: 3,000,000
SHAREHOLDERS AND DIRECTORS
Mitsui & Co (Hong Kong) Ltd
25/F & 26/F, Far East Finance Ctr,
16 Harcourt Road
Hong Kong
900,000 ordinary shares
(30 %
shareholding)
Mitsui & Co Ltd
2-1 Ohtemachi 1-chome,
Chiyoda-Ku
Tokyo
Japan
1,200,000 ordinary shares
(40 %
shareholding)
Sansei Bussan Co Ltd
Tokyotatemono Muromachi Bldg.
3-18, 4-Chome, Muromachi,
103-8339
Nihonhashi, Chuo-Ku, Tokyo
Japan
450,000 ordinary shares
(15 %
shareholding)
Motoshige, Eiji
2-16-10 Takaido-Nishi
Suginami-ku,
Tokyo 168-0071
Japan
Nationality: Japanese
Passport: TF3678528
Director
Mitsui Bussan Plastics Co Ltd
5F, Nextage Nishikasai Bldg.
2-3 Nishikasai 5-Chome,
Edogawa-Ku, Tokyo
JAPAN
450,000 ordinary shares
(15 %
shareholding)
Aoki, Takashi
2-2-13, Higashiohi 4-Chome
Shinagawa-Ku
Tokyo 104-0011
Japan
Passport: TZ0117755
Director
Ikegami, Toshiyuki
D-905, 3-27, Nakadai, Itabashi-Ku
Tokyo, 171-0064
Japan
Passport: TZ0106157
Director
Nakayama, Koichi
Flat J2, 26/F, Blk J, Beverly Hill
6 Broadwood Road
Happy Valley
Hong Kong
Nationality: Japanese
ID-No.: P830390(1)
Director
Ogawa, Hideo
10-9, 5 Chome
Yagisawa, Hoya-shi
Tokyo 202-0022
Japan
Passport: MO4109482
Director
Total no.of shareholders: 4
Former shareholder and director records:
Anai Michihiko resigned as Director of the company with effect from 01 November
1999.
MANAGEMENT
Chan, Kin Shing, Timmy, Admin. & Account Manager
He is active in subject's daily operation.
Management Assessment
Subject is a relatively small entity.
There is simple division of management functions and responsibilities
evident. One or two key figures are
responsible for overall field of management.
GENERAL
ACTIVITY
Nature of business: Importer &
Wholesaler
Main product: Plastic Raw
Materials
Subject is engaged in the importing and wholesaling of plastic raw materials.
All the materials are imported from its group company in
Basic traffic of phone calls, deliveries of documents, goods and visitors
indicates that subject is performing barely adequate level of daily business
activities with little functional divisions and business structures. Operations are observed to be simply
organized with minimal number of staff. The staff seems to be not busy.
PURCHASES
Imports: 100%
Terms imports: internal
payment, open account
Import countries: Japan
MARKETS
Type of clients: Manufacturers
(Toys)
Local HK sales: 100%
Terms local HK sales: open account 60
days
NACE-Code:
5155 Wholesale of chemical products
PREMISES
Type of premises: office
Size sq/ft: 2,000
Area: Commercial
Condition: Modern
Equipment: Properly
equipped and maintained
The premises are shared with other companies, including "New Materials
Asia Ltd", "Nippon Kagaku Yakin Co Ltd".
Very good transportation network.
Located in modern commercial building in commercial centre.
Reasonable office decoration observed.
Captioned premises are computerized with enough work stations and very
spacious. There are also some basic office facilities (tel & fax,
photocopiers, furniture, meeting rooms etc)
STAFF
Staff in Hong Kong: 10
Staff is shared
with related concern
Total group: 9564 (Group)
IMPORTANCE Small
company
AFFILIATION
Shareholder (30%): MITSUI &
COMPANY (HONG KONG) LIMITED
Legal Form:
Private Limited Company
Comp.Reg.Num:
046776
Bus.Reg.Cert.Num: 04673306
Registration Date:
26/3/1976
Paid-up capital:
200,000,000
Activity:
Importer Exporter
Main products:
General Merchandises
Staff: 150
Credit Score: 69
points (as of 3/6/2003)
Turnover:
3,164.57 Mio
Shareholder
Funds: 691.01 Mio
Other
Participation:
ALTA MODA INTERNATIONAL
LIMITED (70 %)
CHILING STEEL
LIMITED (25 %)
TAKUMI TRADING
(H.K.) COMPANY LIMITED (19 %)
PING SHAN
NUTRIVET (CHINA) CO., LIMITED (10 %)
Shareholder (40%): MITSUI & CO.
LTD.
JAPAN
Other
Participation:
MITSUI OIL
(ASIA) HONG KONG LIMITED (100 %)
DAIRU
INDUSTRIES LIMITED (98.9 %)
PING SHAN NUTRIVET (CHINA) CO., LIMITED
(30 %)
Participation: Mitsui & Co. Ltd.
JAPAN
Participation: Sansei Bussan Co. Limited
JAPAN
Participation: Mitsui Bussan Plastics Co Ltd
JAPAN
Related company: New Materials Asia Ltd
Related company: Nippon Kagaka Yakin Co Ltd
same address
Participation: Mitsui & Company (Hong Kong)
Limited
25-26/F, Far
East Finance Centre,
16 Harcourt
Road,
Central, H.K.
Legal Form:
Private Limited Company
Comp.Reg.Num:
046776
Bus.Reg.Cert.Num: 04673306
Registration
Date: 26/3/1976
Paid-up capital:
200,000,000
Activity:
Importer Exporter
Main products:
General Merchandises
Staff: 150
Turnover:
3,164.57 Mio
Shareholder
Funds: 691.01 Mio
Credit Score: 69
points (as of 3/6/2003)
Mitsui & Co. Ltd
Mitsui & Co Ltd is engaged in the general trading and providing
business engineering services.
Its business can be divided into various segments: metals products and
minerals, machinery, electronics & information, chemical, energy, consumer
products and services
With 28 office in Japan, 74 overseas offices and 93 overseas offices over 85
countries
FINANCE
Financial situation: Normal
Status of company: Active
Trend: Steady
Direct Interview: Ms. Poon
(Account Clerk) on 19 Nov 2003
Financial data: Financial data
on subject not available, only on
parent/group
Financials of Mitsui & Co. Ltd.
(consolidated)
Currency = YEN
31 Mar
2003 31 Mar 2002 31 Mar 2001
Turnover: 569,802 Mio 546,549 Mio
Gross Profit: 554,120 Mio 572,137 Mio
Pretax Profit: 62,409 Mio 63,573 Mio 79,625 Mio
Profit after Tax: 31,138 Mio 55,371 Mio 51,588 Mio
Tangible assets: 570,927 Mio 585,441 Mio
Investments: 1,884,766 Mio 2,137,770 Mio
Stocks: 488,672 Mio 485,147 Mio 487,911 Mio
Accounts receivable: 1,589,379 Mio 1,560,041 Mio
Cash & near-cash: 660,216 Mio 607,987 Mio 705,331 Mio
Other current assets: 188,194 Mio 169,976 Mio
Total current assets: 3,831,744 Mio 3,783,757 Mio 3,981,098 Mio
Total assets: 6,540,520 Mio 6,668,366 Mio 6,710,107 Mio
Trade creditors: 1,417,472 Mio 1,407,512 Mio
Other current liabs.: 142,195 Mio 100,155 Mio
Total current liabs.: 3,025,330 Mio 2,986,676 Mio 2,996,554 Mio
Share capital: 192,487 Mio 192,487 Mio
Shareholders' Funds: 862,147 Mio 914,970 Mio 834,427 Mio
31 Mar
2000
Gross Profit: 537,867 Mio
Pretax Profit: 51,457 Mio
Profit after Tax: 34,837 Mio
Stocks: 415,070 Mio
Cash & near-cash: 732,125 Mio
Other current assets: 177,301 Mio
Total current assets: 3,881,845 Mio
Other current liabs.: 80,005 Mio
Total current liabs.: 3,105,983 Mio
Shareholders' Funds: 795,852 Mio
Group Financial analysis
Sales analysis
The group for the year in core business areas was
encouraging, particularly in their Energy and Metal Products & Minerals
segments. This was reflected in higher year on year results at a number of
levels. Revenue-gross trading profit rose ¥23.3 billion, to ¥569.8 billion, and
Earning Power* also increased, up 7.1%, to ¥138.8 billion. This rise in Earning
Power resulted from strong earnings generated from prior investments in energy
and metals projects, a recovery in the chemicals market, and a strong
performance in motor vehicles.
Profit analysis
Net income for the year decreased ¥24.2 billion, to ¥31.1 billion. This was
primarily because in the year under review they reappraised their assets to
reflect the value in the current and foreseeable economic environment.
Liquidity
Current Ratio:
2003:1.26times
2002:1.26times
It maintains stable current ration in these two years. The ratio is bigger than
1. That means the amount of it current assets is enough to cover its current
asset. In general , the bigger the ratio, the better the liquidity it is.
However, it may also indicate the inefficient investment in current asset.
Industry Trend
Followed by some double-digit decrease in 2001, the situation has completely
reversed in 2002. Both imports and exports increased by 10%. This up-going
trend persists in the first two months of 2003 in which imports and exports
increase by 28% and 21% respectively. Asian countries such as
Real estate: premises at
business address are rented
Registered charges: none in current
years
Banker: UFJ Bank Ltd
Payments: no
complaints
Litigation records: clear
on subject: clear
on Mitsui & Co (
Negative file check: clear
Conclusive Remark
Subject is considered good for limited credit. Normal business is carried out with necessary
resources. Subject is capable of meeting
usual daily commitments. But sensitive
to unfavorable conditions which may cause financial difficulties. Unsecured credit should only be granted in
small amount with regular monitoring.
INDUSTRIAL STATISTICS*
|
|
2001 |
2002 |
Jan-Feb, 2003
|
|||
|
HK $ Million |
Growth % |
HK $ Million |
Growth % |
HK $ Million |
Growth % |
|
TOTAL IMPORT
|
44,525 |
-18 |
49,113 |
+10 |
8,228 |
+28 |
TOTAL EXPORT
|
38,930 |
-14 |
42,980 |
+10 |
6,788 |
+21 |
TOTAL IMPORT BY MAJOR MARKET
|
|
2001 |
2002 |
Jan-Feb, 2003 |
|||||
|
Share % |
HK $ Mio |
Share % |
HK $ Mio |
Growth % |
Share % |
HK $ Mio |
Growth % |
|
|
20.8 |
9,272 |
21.1 |
10,340 |
+12 |
19.8 |
1,628 |
+25 |
|
17.0 |
7,562 |
17.6 |
8,648 |
+14 |
17.2 |
1,415 |
+18 |
|
11.0 |
4,913 |
11.4 |
5,619 |
+14 |
12.9 |
1,058 |
+36 |
|
10.2 |
4,540 |
8.9 |
4,377 |
-4 |
9.0 |
742 |
+22 |
|
7.5 |
3,338 |
7.5 |
3,707 |
+11 |
8.7 |
715 |
+63 |
|
9.1 |
4,054 |
9.3 |
4,565 |
+13 |
8.8 |
723 |
+15 |
|
4.4 |
1,966 |
4.7 |
2,325 |
+18 |
5.1 |
421 |
+43 |
TOTAL EXPORT BY MAJOR MARKET
|
|
2001 |
2002 |
Jan-Feb, 2003 |
|||||
|
Share % |
HK $ Mio |
Share % |
HK $ Mio |
Growth % |
Share % |
HK $ Mio |
Growth % |
|
|
95.8 |
37,284 |
96.3 |
41,386 |
+11 |
96.6 |
6,555 |
+22 |
|
0.9 |
342 |
0.7 |
301 |
-12 |
0.4 |
31 |
-1 |
|
0.3 |
133 |
0.3 |
110 |
-17 |
0.3 |
17 |
+14 |
|
0.3 |
121 |
0.5 |
206 |
+70 |
0.5 |
33 |
+39 |
|
0.3 |
119 |
0.3 |
117 |
-2 |
0.3 |
17 |
-13 |
|
0.4 |
171 |
0.4 |
180 |
+5 |
0.4 |
26 |
+3 |
|
0.2 |
|||||||