MIRA
INFORM REPORT
|
Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
NOVANT CHEMICALS LTD |
|
|
|
|
Registered Office : |
1502 Cli Bldg |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
December 22, 2006 |
|
|
|
|
Com. Reg. No.: |
1097320 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Provide color users with a range of specialty pigments Local distribution of manufactured products. |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
|
Maximum Credit Limit : |
Up To USD 5,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name &
address
NOVANT CHEMICALS LTD
1502 CLI BLDG
TEL : 852-25745816
FAX : 852-25749676
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 22, 2006
REGISTRATION NO. :
1097320
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
25
CAPITAL :
US$ 3,836
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 : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81620 = US$1 AS OF 2007-6-28
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD
*Company Registration*
===================
(1)
License number : 1097320
Date issued : 22
December, 2006
Issuing authority : Companies
Registry
Legal form : Private
Company
(2)
License number : 37502150
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
*Office & Facilities*
================
Other contact details
-----------------------------
Tel. no. : 800-5355053
(
352-3233500 (International Emergency contact)
E-mail :
karen@novantchemicals.com
Previous Contact Details
-----------------------------------
Address : 17Fl
Tel no. :
28614615
Fax no. :
28653865
Year of relocation : 2006
*Capital Details*
=============
Share value
: HKD 1.00/-each
Initial registered capital
: HKD 10,000.00
Capital increases as follows :
Date
Increase/Decrease (HKD)
-------
---------------------------------
-
20,000.00
25 January, 2007
30,000.00
*Reputation*
==========
Due to the recent incorporation of the firm, no meaningful points of
reference in terms of reputation within the respective industry was possible.
*Approved Signatures*
===================
Mr. Peter Hugh Heber Percy can sign on behalf of the company with seal
affixed :
*Accountants*
============
Wan Man Tsang
*Registrar*
=========
CHARIOT CONSULTANTS LTD
www.novantchemicals.com The design is
professional and the content is well organized. At present it is in English
version.
E-mail: info@novantchemicals.com
For the past two years there is no record of litigation.
*Major Shareholders*
===================
Total number of shares
: 300,000
Shareholders' Name No. of
Shares Amount of Shares (HKD) % of Shares
---------------------------
------------------
---------------------------------- -----------------
Undisclosed shareholders 299,200 299,200.00 99.73
Peter Hugh Heber Percy 800 800.00 0.27
Note : The Company used to be a
part of the NOBLE GROUP OF COMPANIES, details of which were not disclosed.
*Directors' Details*
===============
(1)
Peter Hugh Heber Percy
Address :
Qualification :
Merchant
(2)
Bharat Viram Sundavadra
HKID no : P984894(4)
Address : 18Fl
MassMutual Tower
Date of appointment : 1 March,
2007
SC declined to release its management details at present.
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Provide color users with a range of specialty pigments including the
following :
- Novant Micronix Micronized
Iron Oxides Pigments
- Novant Organex Organic
Pigments
- Novant Sirius Pearlescent Pigments
- Novant Ionix Synthetic Iron
Oxide Pigments
- Novant Trionix Transparent
Iron Oxide Pigments
2. Local distribution of manufactured products.
Products: Chemical products
Iron oxide,
pigments
Organic pigments
Specialty
pigments
*Brand*
=======
Novant
*Payment Terms*
=============
Sales
------
Local : Cash or Credit
Purchases
--------------
Local : Cash or Credit
*Local Distribution Network*
=======================
100% of the annual turnover is attributed to local sales to coatings,
plastics, printing inks, cosmetics or construction industries.
*Export Markets*
==============
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*
=================================
Maintains a network of over 70 offices in 42 countries throughout the
world.
PAYMENT RATING : 3 OBTAINED SCORES : 51
|
Implication |
Implications |
|
|
1 |
Scores 85100 |
Excellent |
|
2 |
Scores 75 84 |
Above Average |
|
3 |
Scores 50 74 |
Average |
|
4 |
Scores 35 49 |
Fair |
|
5 |
Scores 15 34 |
Below Average |
|
6 |
Scores 01 14 |
Poor |
|
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.
*Bank Details*
============
Bank name : HONG KONG &
SHANGHAI BANKING CORP LTD, THE
Branch : Central,
Swift code : HSBCHKHH
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
Additionally as the company was only established six (6) months ago no
financials have been lodged.
SC is considered small-sized in its line with an acceptable base to come
into credit dealings of small amount.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 2800 Chemicals
and Allied Products
Manufacturing 2899 Chemical
preparations,
Manufacturing 5169 Chemicals/Allied
Prdts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 3204175000 Pigments
and preparations based thereon,nesoi
Manufacturing 3204175090 Other
pigments and preparations based thereon
Manufacturing 3800 Miscellaneous
chemical products
Manufacturing 3823905050 Chemical
products and preparations of the chemical or allied industries
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SCs 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%)