MIRA
INFORM REPORT
|
Report Date : |
1st
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
ASIA
PACIFIC CHEMICALS CO., LTD. |
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Registered Office : |
1
Soi G3, Pakornsongkroh Road, Mabtaphud, Muang,
Rayong 21150 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
27.07.1994 |
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Com. Reg. No.: |
0105537087005 [Former : [2]3233/ 2537] |
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Legal Form : |
Private Limited
Company |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
Stopped
Operation |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
Company Name
ASIA PACIFIC
CHEMICAL CO., LTD.
SUMMARY
BUSINESS ADDRESS : -
TELEPHONE : -
FAX : -
REGISTRATION ADDRESS : 1 SOI G3, PAKORNSONGKROH ROAD,
MABTAPHUD,
MUANG, RAYONG 21150
ESTABLISHED : 1994
REGISTRATION NO.
: 0105537087005 [Former : [2]3233/ 2537]
CAPITAL REGISTERED : BHT. 100,000,000
CAPITAL PAID-UP
: BHT. 100,000,000
FISCAL YEAR CLOSING
DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : -
NO. OF
STAFF : -
LINES OF
BUSINESS : DYED CHEMICAL
MANUFACTURER
CORPORATE PROFILE
OPERATING TREND : -
PRESENT SITUATION : STOPPED OPEARTION
REPUTATION : -
MANAGEMENT STANDARD : -
HISTORY
The
subject was established
on July 27,
1994 as a private limited company under the name style
ASIA PACIFIC CHEMICAL
CO., LTD., by
Thai groups, with the
business objective initially
to manufacture dyed
chemical. However, the
subject has been
stopped its operation
since the end
of 2005, but
has not yet revoked its name
from the Commercial
Registration Department.
The
subject’s registered address
is 1 Soi G3, Pakornsongkroh Rd., Mabtapud, Muang,
Rayong 21150.
THE BOARD OF DIRECTOR
|
Name |
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Nationality |
Age |
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Mr.
DepaRak Kumar Sajdev |
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Thai |
44 |
|
Mr.
Sunil Sajdev |
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Thai |
42 |
AUTHORIZED PERSON
One of
the above directors
can sign on
behalf of the
subject with company’s
affixed.
COMMENT
The
subject has been
stopped its operation.
Any business engagement
with the subject
should be ceased.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 100,000,000
divided into 100,000
shares of Bht. 1,000 each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as
at April 30,
2006]
|
NAME |
HOLDING |
% |
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|
|
|
|
Rose
Investment Pte. Limited Nationality: Singaporean Address :
North Bridge Rd.,
Singapore |
49,000 |
49.00 |
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Mr. Deparak Kumar Sajdev Nationality: Thai Address
:
352 Pattanakarn Rd.,
Klongton, Klongtoey, Bangkok |
15,000 |
15.00 |
|
Mr. Siva
Kumar Sajdev Nationality: Thai Address :
16/6 Sukhumvit 19
Rd., Klongtoey, Bangkok |
15,000 |
15.00 |
|
Mr. Ramechandas Narula Nationality: Thai Address :
230 Charansanitwong 1
Rd., Wadthaphra, Bangkokyai, Bangkok |
6,000 |
6.00 |
|
Mr. Sunil
Sajdev Nationality: Thai Address :
16/6 Sukhumvit 19
Rd., Klongtoey, Bangkok |
5,000 |
5.00 |
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Mr. Asira
Narula Nationality: Thai Address :
230 Charansanitwong 1
Rd., Wadthaphra, Bangkokyai, Bangkok |
5,000 |
5.00 |
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Mrs. U-sa
Narula Nationality: Thai Address :
230 Charansanitwong 1
Rd., Wadthaphra, Bangkokyai,
Bangkok |
5,000 |
5.00 |
Total
Shareholders : 7
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO. :
Mr. Sutthi
Kriengchaipruek No. 2831
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2005 &
2004 were:
ASSETS
|
Current Assets |
2005 |
2004 |
|
|
|
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Cash in
hand & at
Bank |
47,956.35 |
256,548.29 |
|
Trade Accts.
Receivable |
38,055,677.67 |
72,992,998.10 |
|
Short Term
Loan to Person
or Related Company |
- |
32,355,500.00 |
|
Inventories |
1,682,365.60 |
43,563,208.25 |
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Other Current
Assets |
9,651,298.22 |
10,201,603.06 |
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Total
Current Assets |
49,437,297.84 |
159,369,857.70 |
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Other Long
Term Investment |
169,240,000.00 |
169,240,000.00 |
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Fixed
Assets |
72,283,591.58 |
85,919,526.55 |
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Other
Assets |
2,100.00 |
436,900.00 |
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Total
Assets |
290,962,989.42 |
414,966,284.25 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current Liabilities |
2005 |
2004 |
|
|
|
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Bank Overdraft
& Short Term
Loan |
20,324,701.61 |
19,778,708.76 |
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Trade Accts.
Payable |
181,783,302.18 |
278,970,967.84 |
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Current Portion of Long Term Loan |
34,100,000.00 |
20,000,000.00 |
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Other Current
Liabilities |
12,304,540.25 |
13,022,053.29 |
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Total Current Liabilities |
248,512,544.04 |
331,771,729.89 |
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Other
Long Term Loan |
118,284,125.00 |
144,984,125.00 |
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Total
Liabilities |
366,796,669.04 |
476,755,854.89 |
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Shareholders' Equity |
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Share
capital : Baht 1,000 par
value authorized, issued and fully
paid
share capital 100,000
shares |
100,000,000.00 |
100,000,000.00 |
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Capital Paid |
100,000,000.00 |
100,000,000.00 |
|
Retained Earning - Unappropriated |
[175,833,679.62] |
[161,789,570.64] |
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Total Shareholders' Equity |
[75,833,679.62] |
[61,789,570.64] |
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Total Liabilities &
Shareholders' Equity |
290,962,989.42 |
414,966,284.25 |
PROFIT & LOSS ACCOUNT
|
Revenue |
Jan. 1, 2005- Dec. 31, 2005 |
Jan. 1, 2004- Dec. 31, 2004 |
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|
|
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Sales |
206,258,012.13 |
249,069,906.77 |
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Other Income |
538,560.40 |
38,838,183.77 |
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Total
Revenues |
206,796,572.53 |
287,908,090.54 |
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Expenses |
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Cost of
Goods Sold |
203,418,648.13 |
231,922,360.90 |
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Selling &
Administrative Expenses |
3,245,062.80 |
3,837,707.57 |
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Other Expenses |
3,028,857.69 |
- |
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Total Expenses
|
209,692,568.62 |
235,760,068.47 |
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Profit
/ [Loss] Before Interest
Expenses |
[2,895,996.09] |
52,148,022.07 |
|
Interest Expenses |
[11,148,112.89] |
[10,947,464.04] |
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Net Profit / [Loss] |
[14,044,108.98] |
41,200,558.03 |
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Retained
Earning [deficit],
beginning of year |
[161,789,570.64] |
[202,990,128.67] |
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Retained
Earning [deficit], end of
year |
[175,833,679.62] |
[161,789,570.64] |
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 |
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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 |
|
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 |
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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 |
|
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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