MIRA INFORM REPORT
|
Report
Date : |
12th
June, 2006. |
IDENTIFICATION
DETAILS
|
Name : |
BASELL ASIA PACIFIC LIMITED |
|
|
|
|
Formerly
Known As : |
BASELL CHINA LTD |
|
|
|
|
Registered
Office : |
22/F, Hennessy Centre, 500 Hennessy Road, Causeway Bay,
Hong Kong |
|
|
|
|
Date
of Incorporation : |
11.04.1986 |
|
|
|
|
Com.
Reg. No.: |
167684 |
|
|
|
|
Legal
Form : |
Private Limited Company |
|
|
|
|
Line
of Business : |
Trading of plastic materials. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
Status
: |
Good |
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
Litigation
: |
Clear |
NAME
BASELL
ASIA PACIFIC LTD.
FORMER NAME
BASELL
CHINA LTD.
ADDRESS
22/F,
HENNESSY CENTRE, 500 HENNESSY ROAD,
CAUSEWAY
BAY, HONG KONG
TEL : 852
25773855
FAX : 852
28950905
EXECUTIVE SUMMARY
|
INCORPORATION
DATE |
11-4-1986 |
|
REGISTRATION
NO. |
167684 |
|
REGISTERED
LEGAL FORM |
PRIVATE LIMITED CO. |
|
CHIEF
EXECUTIVE |
WONG WAI FONG
(DIRECTOR) |
|
STAFF
STRENGTH |
46 |
|
AUTHORIZED CAPITAL |
HKD 100,000 = 100,000 SHARES @ HKD 1.- |
|
PAID-UP CAPITAL |
HKD 80,000 |
|
BUSINESS
LINE |
TRADING OF PLASTIC MATERIALS |
|
TURNOVER |
EUR67,000M (GROUP,
YEAR ENDED 31-12-2004) |
|
EQUITIES |
NA |
|
PAYMENT |
AVERAGE |
|
RECOMM.
CREDIT RANGE |
FAIRLY
LARGE AMOUNT |
|
MARKET
CONDITION |
COMPETITIVE |
|
FINANCIAL
CONDITION |
STABLE |
|
OPERATIONAL
TREND |
GOOD |
|
GENERAL
REPUTATION |
AVERAGE |
|
EXCHANGE
RATE |
HKD 7.77187 = USD1 AS OF 2005-06-28 |
Adopted abbreviations
ANS -
amount not stated
NS - not
stated
SC -
subject company (the company inquired by you)
NA - not
available
M - million
HKD – Hong
Kong Dollars
SC is a private limited company
registered under incorporation file no. 167684 on 11-4-1986.
SC's shareholders & directors
are shown to be as follows:
Shareholders
(as at 11-4-2004) Number of shares held
Basell Int'l Holdings B.V.
(formerly known as
Montell
Int'l Holdings B.V.)
79,999
Von
Ilsemann Godard 1
--------
80,000
=====
Directors (as at 11-4-2004)
Blaisse Ritsaart Willem Boudewijn
/ Z01210050
Bonte Yves O.H.J. / EC124889
Von Ilsemann Godard / 3514139772
Wong Wai Fong / E9116730
The above registration information
is based on SC's annual return of 2004 filed at Companies Registry while that
of the current year was not available during our search.
Our current search reveals certain
material change or amendment of SC has been recorded within the last 2 years
& noted as follows:
Change of co. name : SC was
formerly named Basell China Ltd. & adopted present name on 10-12-2003.
Total
number of employees : 46.
Location : Maintaining its office at the heading business
address which occupies a gross area of 20,000 square feet at a commercial
building in a commercial & shopping district.
Condition
inside the premises during our visit : Normal.
Office/factory
layout : Standard.
This section will contain the
civil litigations & winding-up petitions filed against SC for the last 6
years (as stored in our database), and the mortgage/charge filed by SC for the
last 2 years. In Hong Kong, creation of
such mortgages/charges by an unlimited co is not required to be registered in
the public records.
Civil
litigation/winding-up petitions : None
in our database.
Mortgage/charge
record(s) : None filed since
its incorporation date.
SC is a
subsidiary of Basell International Holdings B.V. whose partial information is
as follows:
Year
established :
NA
Registered/business
address : Hockseen 66, 2132 MS
Hoofddorp. The
Netherlands.
Business
line : As a
holding co. with diverse interests in
trading of plastic materials.
No. of
employees :
NA
Civil
litigation & winding-up
petition
records : None in
our database
Turnover :
NA
Outside
sources indicated that the above said co. is the affiliate of Basell N.V.,
whose partial information is as follows:
Year
established :
2000
Registered/business
address : Same as Basell
International Holdings B.V.
Business
line : As a
holding co. with diverse interests in
manufacturing & supply of plastic
materials
such as polyethylene, polypropylene,
catalysts,
etc.
No. of
employees :
6,600
Civil
litigation & winding-up
petition
records : None in
our database
Turnover :
EUR67,000M (year ended 31-12-2004)
Outside
sources indicated that Basell N.V. is the joint venture of "Royal Dutch /
Shell Group of Companies" & "BASF Aktiengesellschaft", a
public co. listed on NYSE with stock ticker "BF [ADR]".
Wong Wai
Fong, managing director: Embarked upon
his career to present field as an executive trainee in his mid 20's. Currently active in SC's day-to-day
operations & is responsible for its management.
Registered
residential address: 24B, Roc Ye Court, 11 Robinson Road, HK.
Credit
history check : This refers to a check
of our database whether the said person has been involved in any of the
following records stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the
said
person was placed to us for
collection
Von
Ilsemann Godard, director: He is by
German nationality. Embarked upon his
career to present field as an executive trainee in his late 20's. Currently active in SC's day-to-day operations
& is responsible for its management.
Registered
residential address: Unit 15B, Aigburth, No.12 Tregunter Path, HK.
Credit
history check : This refers to a check
of our database whether the said person has been involved in any of the
following records stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the
said person was placed to us for
collection
Ownership
background appraisal
Rating : 1 Obtained scores : 85 (see explanatory notes below)
Keys : 1 : scores
81-100 : Excellent
2 : scores
61-80 : Good
3 : scores
46-60 : Average
4 : scores
21-45 : Fair
5 : scores
01-20 : Poor
The rating
indicates the personal financial & operational strength of SC's major
principals. It is calculated from a
composite of scores obtained from the following 5 factors which carry equal
weight in our analysis:
Personal
financial strength, credit history & trade reputation, business experience
& track record, market connection and management skill.
Business categories
SC is engaged in trading of
plastic materials.
Items available include
polyethylene (PE), polypropylene (PP), high-density polyethylene (HDPE),
catalyst, etc.
Principal purchases
Major types of sourcing : Merchandise
Local--type of suppliers : Nil
Buying terms :
Nil
Overseas--supplying countries : USA & Europe
Buying terms :
Intercompany account basis
Principal market
Local--type of customers : Manufacturers
Selling terms :
COD & credit of 30 days
Overseas--buying countries : PR China & SE Asia
Selling terms :
L/C & T/T
SC's
affiliates:
1) Basell
Polyolefins Company N.V.
- Woluwe Garden, Woluwedal
24, 1932 Zaventem (Brussels), Benelux, Belgium.
- Tel: 32-2-7158000
- Fax: 32-2-7158050
2) Basell
Polyolefines France S.A.S.
- 81,
Avenue Francois Arago, F - 92017 Nanterre Cedex, France.
- Tel: 33-0-1-55512100
- Fax: 33-0-1-55512150
3) Advanced
Polyolefins, Basell Deutschland GmbH
-
Industriepark Hoechst, Building B 852, D - 65926 Frankfurt/Main, Germany.
- Tel: 49-0-69-30585800
- Fax: 49-0-69-30585803
4) Basell
Dutschland GmbH
- Bruehler
Strasse, D-50389 Wesseling, Germany.
- Tel: 49-0-2236-726000
- Fax: 49-0-2236-726034
5) Basell
Italia S.r.l.
- Piazza
Montanelli 20, I- 20099 Sesto San Giovanni (Milan), Italy.
- Tel: 39-02-243421
- Fax: 39-02-24342600
6) Basell
Poliolefinas Comercial Espanola, S.L.
- Av. Diagonal,
615, 4/F, E - 08028 Barcelona, Spain.
- Tel: 34-93-3652000
- Fax: 34-93-3652100
7) Basell
UK Ltd.
-
Carrington Site, Urmston, Manchester M31 4AJ, UK.
- Tel: 44-161-7763020
- Fax: 44-161-7763027
8) Basell
Polyolefine GmbH
-
Industriepark Hoechst, Building B 852, D - 65926 Frankfurt am Main,
Germany.
- Tel
Licensing: 49-69-30585450
- Tel
Catalysts: 49-69-30585451
- Fax
Licensing: 49-69-30585494
- Fax
Catalysts: 49-69-30585493
9) Basell
North America Regional Office and Research & Development Centre
- 912
Appleton Rd., Elkton, Maryland 21921-3920, USA.
- Tel: 1-517-3369600
- Fax: 1-517-3369611
10) Basell North American Advanced Polyolefins
Business and Technical
Centre
- 2727
Alliance Drive, Lansing MI 48910, USA.
- Tel: 1-517-3369600
- Fax: 1-517-3369611
11) Basell Australia Pty Ltd.
- Level 2,
199 Toorak Rd., South Yarra, Melbourne, Victoria 3141, Australia.
- Tel: 61-3-98299455
- Fax: 61-3-98299431
12) Basell
Brasil Ltd.
- Estrada
Samuel Aizemberg, 1707, Sao Bernardo do Campo, 09851-550, Sao
Paulo, Brazil.
- Tel: 55-11-43433461
- Fax: 55-11-43433464
Overall
payment appraisal
(
) Excellent ( ) Good
(X) Average ( ) Fair
( ) Poor ( )
Not yet determined
The appraisal serves as a
reference to reveal SC's payments habits and ability to pay. It is based on the 3 weighed factors: Trade payment experience (through current
enquiry with SC's suppliers), our delinquent payment records and our debt
collection record concerning SC.
Trade payment experience
SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent payment record
None in our database.
Debt collection record
No overdue
amount owed by SC was placed to us for collection within the last 6 years.
Banking relations are maintained
principally with:
- HSBC
- Citibank N.A.
- ABN AMRO Bank N.V.
During our
report preparation, the principals could not be contacted while the staff
members hesitated to release financial information without the principals'
consent.
As per current co. search, total
amount of indebtedness of SC in respect of all mortgages and charges which are
required to be registered with Companies Registry as at 11-4-2004 was nil.
SC is considered a well-maintained
business with solid base to meet fairly large amount of credit dealings.
-- Asset Tracing --
Upon our current investigation,
our database & sources consulted indicate that SC was not involved in any
property transaction (both purchase & disposal) in Hong Kong for the last 6
years.
RATING EXPLANATIONS
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base
are regarded healthy. General unfavourable factors will not cause fatal
effect. Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent.
Repayment of interest and principal sums in default or expected to be in
default upon maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |