MIRA
INFORM REPORT
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Report Date : |
06.08.2007 |
IDENTIFICATION
DETAILS
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Name : |
BASELL ASIA PACIFIC LTD |
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Registered Office : |
12FL Caroline Centre Lee Garden |
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Country : |
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Date of Incorporation : |
April 11, 1986 |
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Com. Reg. No.: |
167684 |
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Legal Form : |
Private |
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Line of Business : |
Manufacture and wholesales of plastic raw materials and resins. Offers on-line order placement and tracking to customers in
Asia-Pacific via BasellConnect. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Up To USD 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
BASELL ASIA PACIFIC LTD
12FL CAROLINE CENTRE LEE GARDEN TWO
TEL: 852-25773855
FAX: 852-28950905
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 11, 1986
REGISTRATION NO. :
167684
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. KENNETH TAM (MANAGER)
STAFF STRENGTH :
60
CAPITAL :
US$ 12,788
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.82649 = US$1 AS OF 2007-8-1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
*Company Name*
=============
Incorporated as :
HIMONT (EAST) LTD
Date of incorporation : 11 April, 1986
Changed name to : MONTELL
EAST LTD
Date of change : 27
April, 1995
Changed name to :
MONTELL-TPP CHINA ADVANCED POLYMERS CO LTD
Date of change : 29
August, 1997
Changed name to : MTC ADVANCED POLYMERS CO LTD
Date of change : 11
October, 2000
Changed name to : BASELL
CHINA LTD
Date of change : 30
November, 2001
Changed name to : BASELL
ASIA PACIFIC LTD
Date of change : 10
December, 2003
*Company Registration*
===================
(1)
License number : 167684
Date issued : 11 April,
1986
Issuing authority : Companies
Registry
Legal form : Private
Limited Company
Type of license : Corporate registration
(2)
License number : 10395191-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
registration
*Office & Facilities*
===============
Breakdown of employees as follows :
Position No.
of Staffs
------------
-----------------
Office staffs
55
Other employees
60
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
www.basell.com The design is
professional and the content is well organized. At present it is both in Chinese
and English versions.
E-mail: kenneth.tam@basell.com
For the past two years there is no record of litigation.
*Major Shareholders*
==================
Total number of shareholders
: 2
Total number of ordinary shares : 80,000
Shareholders' Name No. of Ordinary Shares Amount of Shares (HKD) % of Shares
--------------------------- ------------------------------- ---------------------------------- ----------------
BASELL INT'L
Robert Kneeshaw 1 1.00 0.00
Share Transfers
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Date
No. of shares
Transferors
Transferees
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19 September, 2006
1 Mr. Godard
Von Ilsemann Mr. Robert Kneeshaw
*Directors' Details*
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(1)
Ritsaart Willem Boudewijn Blaisse
Address
: Brugestraat 71, Den Haag, 2587XP
(2)
Frank Ching-hua Kao
Address :
(3)
Robert Kneeshaw
Australian Passport ID :
E7079014
Address
:
Email address : robert.kneeshaw@basell.com
*Company Secretary*
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James Leung
HKID no :
D633148(4)
Address : Flat
B 16Fl
Management: Mr. Kenneth Tam,
Manager
Mr. Wai-fong Wong, Managing Director
Mr. Nadelle Williams, Representative
Name Nationality
Job Description
Mr. Kenneth Tam
Mr. Wai-fong Wong Hong Kong Managing Director
Mr. Nadelle Williams
Ms. Queenie Leung
Ms. Shirley Lau
*Key Personnel*
============
(1)
Wai-fong Wong
HKID no : E911673(0)
Address : Flat C 35Fl South Tower 1 Residence
Bel-Air Phase 2 Bel-Air, Pok Fu Lam
Responsibility : Handles the
overall management of company
(2)
Queenie Leung
Email address :
queenie.leung@basell.com
(3)
Kenneth Tam
Email address : kenneth.tam@basell.com
(4)
Nadelle Williams
Email address :
nadelle.williams@basell.com
Responsibility :
Asia-Pacific market
(5)
Shirley Lau
Email address :
shirley.lau@basell.com
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Manufacture and wholesales of plastic raw materials and resins.
2. Offers on-line order placement and tracking to customers in Asia-Pacific
via BasellConnect.
Business divisions includes:
- Technology Business, which includes licensing, catalysts development
and sales, R&D and new projects
- Advanced Polyolefins Business, which consists of polypropylene
compounds and other specialty products
- Polyolefins Business, which comprises polypropylene and
polyethylene.
Products: Catalysts
PE
(polyethylene)
PP
(polypropylene)
Plastic raw
materials
Plastic resins
*Payment Terms*
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Sales
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Local : Cash or Credit
Purchases
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Local : Cash or Credit
Import : Letter of Credit
(L/C)
*Lodgment of Annual Returns*
========================
Date of lodgment : 11
April, 2007
*Production Capacity*
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Item :
Polypropylene
Current capacity : 2.5 million
tones
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains offices in the following countries :
-
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-
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PAYMENT RATING : 3 OBTAINED SCORES :
51
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL amounts
depending on individual judgement experience.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a long operating history.
It is considered a credit line up to USD 20,000 appears to be within SC’s
capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 2821 Plastics
materials and resins
Manufacturing 2899 Chemical
preparations,
Manufacturing 3089 Plastics
products,
Trading 2821 Plastics
materials and resins
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 3815190000 Support
catalysts
Manufacturing 3900 Plastics
& articles thereof
Manufacturing 3901 Polymers
of ethylene, in primary forms
Manufacturing 3902 Polymers
of propylene or other olefins, prim forms
Manufacturing 3902100000 Polypropylene
Manufacturing 3911 Petro
resins, polysulfides etc, primary form
Manufacturing 3926 Articles
of plastics (inc polymers & resins)
Trading 3900 Plastics
& articles thereof
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Catalysts
Trader Plastic raw
materials
Trader Plastic
resins
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from
Importing from
Importing from
Importing from
Importing from
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)