MIRA
INFORM REPORT
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Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
BAYER MATERIALSCIENCE LTD |
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Registered Office : |
77/Fl The Center 99 Queen's
Rd Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.02.1998 |
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Com. Reg. No.: |
636023 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Import of polymer
and plastics including coatings, adhesives and sealant, polycarbonates, polyurethanes,
thermoplastic polyurethanes and inorganic basic chemicals. |
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 : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME & ADDRESS
BAYER MATERIALSCIENCE LTD
77FL THE CENTER 99 QUEEN'S RD
CENTRAL HONG KONG
TEL: 852 28955888
FAX: 852 25768862
EXECUTIVE SUMMARY
INCORPORATION
DATE :
FEBRUARY 11, 1998
REGISTRATION
NO. : 636023
CHIEF
EXECUTIVE :
MR. STEVEN LOWE (DIRECTOR)
STAFF
STRENGTH :
400
CAPITAL :
US$ 12,804
BUSINESS
LINE :
IMPORTER
TURNOVER : N/A
(AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
CREDIT RANGE : UP TO US$
150,000
MARKET
CONDITION :
COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : STEADY
GENERAL
REPUTATION : AVERAGE
EXCHNAGE
RATE : HKD
7.81543 = US$1
Company Registration
License number :
636023
Date issued :
11 February, 1998
Issuing
authority : Companies Registry
Legal form :
Private Limited Company
Type of license :
Corporate
License number :
21927744-000
Date issued :
N/A
Issuing
authority : Business Registration Office - Inland Revenue Dept
Type of license :
Business
Company Name
Incorporated as :
KING LION CORP LTD
Date of
incorporation : 11 February, 1998
Changed name to :
SYBRON CHEMICAL (HONG KONG) LTD
Date of change :
31 July, 1998
Changed name to :
SYBRON CHEMICALS (HONG KONG) LTD
Date of change :
16 August, 1999
Changed name to :
BAYER POLYMERS CO LTD
Date of change :
26 September, 2001
Changed name to :
BAYER MATERIALSCIENCE LTD
Date of change :
1 September, 2004
Capital Details
Authorized capital :
HKD 100,000.00 divided into 100,000 ordinary shares of HKD 1.00/-each, fully paid
Office & Facilities
Other tel nos. : 36972818;
28947212
Other fax no. : 35264666
Reputation
Reference checking
for the purpose of establishing the firm's reputation within the respective
industry failed to reveal any negative information.
Website :
www.bayermaterialscience.com The design is professional and the content is well organized.
E-mail : yongmeng.tan@bayermaterialscience.com
For the past two
years there is no record of litigation.
Major Shareholders
Total number of
shareholder : 1
Total number of
ordinary shares : 100,000
Shareholder's
Name No. of Ordinary Shares Amount of Shares (HKD) %
of Shares
BAYER FAR EAST
SERVICE CO LTD 100,000 100,000.00 100.00
Director's Details
Michael Koenig
Date of appointment : 1 April, 2007
Wolfgang Werner
Miebach
Passport no. : 334111487 (Germany)
Address : Kinderhausen 9,
Leverkusen, 51331 Germany
Date of appointment : 1 April, 2007
Meng-tan Yong
Email :
yongmeng.tan@bayermaterialscience.com
Responsibility :
Communication
Company Secretary
Yuk-kwan Lee
HKID no. : G518571(7)
Address : Flat 1115, 11Fl
Sheung Yat House Upper Ngau Tau Kok Estate, Kwun Tong, Kowloon Hong Kong
COMPANY MANAGEMENT
Name Nationality
Job Description Dept. / Division
Mr. Steven Lowe Hong Kong Director Credit
Mr. Roland Ng Hong Kong Representative Marketing
Mr. Frank Rovekamp German Managing Director -
Mr. Hans Bernd
Schmitz German Representative -
Key Personnel
Steven Lowe
Tel : 28947310
Fax : 35264523
Roland Ng
Email :
roland.ng@bayermaterialscience.com
Hans Bernd Schmitz
Responsibility :
Corporate Communications
Main Products &
Services
Specializes in the
following areas of work :
1. Import of polymer
and plastics including coatings, adhesives and sealant, polycarbonates,
polyurethanes,
thermoplastic polyurethanes and inorganic
basic chemicals.
2. Wholesale
distribution of imported products.
Operations comprise
five business units which includes:
- Polycarbonates
- Polyurethanes
- Coatings,
Adhesives and Sealants
- Thermoplastic
Polyurethanes
- Inorganic Basic
Chemicals
Principal Products
& Brands includes the following :
Products Brand
Coatings, Adhesives,
Sealants Desmodur
Bayhydur
Dispercoll
Artwalk
Polycarbonates Makrolon
Makrofol/Bayfol
Fantasia
Bayblend
Polyurethanes Multitec
Baydur
Bayflex
Baypreg
Vulkollan
Thermoplastic
Polyurethanes Desmopan/Texin
Wolff Walsrode cellulose derivatives
- Baytron
Products : Adhesive
sealants
Chemical products
Latice
Polyurethane
Resins
Payment Terms
Sales
Local : Cash or credit
Export : Letter of Credit
(L/C)
Telegraphic Transfer (T/T)
Purchases
Local : Cash or credit
Import : Letter of
Credit (L/C)
Telegraphic Transfer (T/T)
Local Distribution Network
Majority of the
annual turnover is attributed to local sales.
Export Markets
Part of the annual
turnover is attributed to export.
SC is not known to
have any subsidiary at present.
PAYMENT RATING :3 OBTAINED SCORES : 65
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Rating Key |
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
MODERATE amounts depending on individual judgement experience.
Bank Details
Bank name : DEUTSCHE BANK AG
Branch : Central, Hong Kong
Branch Address : 45Fl Cheung Kong Center 2 Queen's Rd
Central Hong Kong (Head Office)
Account number : 009-589-3050 (USD account)
Swift code : DEUTHKHH
As a private limited
company there is no legal requirement according to local corporate law for
public disclosure of detailed financial.
SC is considered
medium-sized in its line with stable development trend. It is considered a
credit line up to US$ 150,000 appears to be within SC’s capacities.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2800
Chemicals and Allied
Products
Importing 2819
Industrial inorganic
chemicals
Importing 2821
Plastics materials and
resins
Importing 2822
Synthetic rubber
Importing 2899
Chemical preparations
Importing 5169
Chemicals/Allied Prdts,
NEC
Trading 2800
Chemicals and Allied
Products
Trading 2819
Industrial inorganic
chemicals
Trading 2821
Plastics materials and
resins
Trading 2822
Synthetic rubber
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3800
Miscellaneous chemical
products
Importing 3907400000
Polycarbonates
Importing 3909
Amino resins, phenolics
& polyurethanes, prim form
Importing 3909505000
Polyurethanes,in primary forms
Importing 4002
Synth rubber &
factice, inc nat-syn mk, pr fm etc
Trading 3800
Miscellaneous chemical
products
Trading 3907400000
Polycarbonates
Trading 3909
Amino resins, phenolics
& polyurethanes, prim form
Trading 3909505000
Polyurethanes,in primary forms
Trading 4002
Synth rubber &
factice, inc nat-syn mk, pr fm etc
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importing Thermoplastic
polyurethane
Importing Synthetic
rubber
Importing Precursors
Importing Polycarbonate
Importing Inorganic
basic chemicals
Trading Adhesive
sealants
Trading Thermoplastic
polyurethane
Trading Synthetic
rubber
Trading Chemical
products
Trading Latice
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to India
Exporting to Japan
Exporting to
Malaysia
Exporting to
Thailand
Importing from Asia
Importing from
Belgium
Importing from
Brazil
Importing from
Europe
Importing from
Germany
Importing from Japan
Importing from
Netherlands
Importing from North
America
Importing from South
Korea
Importing from Spain
Importing from
Thailand
Importing from USA
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%)