MIRA
INFORM REPORT
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Report Date : |
15.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
FMC AGRICULTURAL PRODUCTS INT'L AG |
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Registered Office : |
Suite 2, 402 Central Plaza, 18 Harbour Rd Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
November 3, 1999 |
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Com. Reg. No.: |
F0009856 |
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Legal Form : |
Branch Office of Overseas Company |
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Line of Business : |
Engaged in sales and distribution of agricultural and other related products
to local and overseas markets. |
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 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
FMC AGRICULTURAL PRODUCTS INT'L AG
SUITE 2, 402 CENTRAL PLAZA
18 HARBOUR RD WANCHAI, HONG KONG.
TEL : 852-28396600
FAX : 852-25763178
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 3, 1999
REGISTRATION NO. :
F0009856
LEGAL FORM :
BRANCH OFFICE OF OVERSEAS COMPANY
CHIEF EXECUTIVE : MR. RONN VANPEER (MANAGER)
STAFF STRENGTH :
30
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
CHF 128,876,425 (AS OF 2005, FMC SWITZERLAND)
EQUITIES :
CHF 22,621,202 (AS OF 2005, FMC SWITZERLAND)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 200,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CHF 1.1222 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
CHF –Swiss Franc
*Company Name*
==============
Also known as the following:
- FMC AFRICULTURAL PRODUCTS INT'L INC
- FMC AFRICULTURAL PRODUCTS INT'L SA
*Registrar*
=========
- KCS LTD
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
www.fmc.com This is the web of SC’s parent
company. The design is professional and the content is well organized. At
present it is in English version.
E-mail: ronn.vanpeer@fmc.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholder: 1
Shareholder's Name % of Shares
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FMC AGRICULTURAL PRODUCTS INT'L AG 100
Management: Mr. Ronn Vanpeer,
Manager
Mr. Marc Hullebrock, Manager
Mr. Freda Shu-hui Wu, Finance Controller
Name Nationality
Job Description Dept. / Division
Mr. Ronn Vanpeer Hong Kong Manager Marketing
Mr. Marc Hullebrock Hong Kong Manager Sales
Mr. Freda Shu-hui Wu Hong Kong Finance Controller -
*Key Personnel*
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(1)
Yi-hua Zhang
Address :
Flat B 38Fl Tower 4 Dynasty Court 23 Old Peak Rd Hong Kong Hong Kong
Date of appointment : 8 August,
2007
(2)
Mr. Marc Hullebrock
Area of responsibility : Asia Pacific
(3)
Mr. Ronn Vanpeer
E-mail :
ronn.vanpeer@fmc.com
Area of responsibility : Europe
*Main Products & Services*
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Engaged in sales and distribution of agricultural and other related products
to local and overseas markets.
Products: Agricultural chemicals
Agricultural
insecticides
Agricultural
pesticides
Agricultural
products
Chemical
products
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains an overseas factory located in China.
*Subsidiaries , Joint-ventures & Affiliates)
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Company Name : FMC ASIA-PACIFIC INC
Address : Rm 1706 Central Plaza 18 Harbour Rd Wanchai Hong Kong Hong Kong
Country : Hong Kong
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Machinery
PAYMENT RATING : 4 OBTAINED SCORES : 47
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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 MODERATE
amounts depending on individual judgement experience.
Balance Sheet of FMC AGRICULTURAL PRODUCTS INT'L AG, Switzerland
Currency : CHF
2005 2004
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Assets
Current assets
Cash and bank deposits 1,126,558 776,834
Cash receivable from affiliated companies 2,680,977 -
Trade accounts receivable
due from third parties
1,249,309 3,839,906
due from affiliated
companies 20,613,208 37,768,320
Prepayments
2,997,768 3,885,318
Inventories
22,512,128 10,455,971
Other receivables
326,407
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51,506,355 56,726,349
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Non-current assets
Investments
2,001,783 1,543,184
Prepayments 11,412,789 7,640,433
Fixed assets
87,220 -
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13,501,792 9,183,617
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65,008,147 63,909,966
========= =========
Liabilities and Shareholder's Equity
Current liabilities
Financial liabilities
- 2,246,426
Cash payable to affiliated companies - 2,385,457
Trade accounts payable
due to third parties
13,466,904 15,967,795
due to affiliated
companies 416,423 2,034,997
Other payables and accrued expenses 3,826,126 2,322,470
Provision for taxes
282,105 538,059
Provision for unrealized foreign exchange gains 1,000,000 -
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18,991,558 25,495,204
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Non-current liabilities
Loan from affiliated company 23,395,387 -
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Shareholder's equity
Share capital 100,000 100,000
Legal reserve
50,000 50,000
Retained earnings 22,471,202 40,264,762
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22,621,202 40,414,762
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65,008,147 65,909,966
========= =========
Income Statement of FMC AGRICULTURAL PRODUCTS INT'L AG, Switzerland
Currency : CHF
2005 2004
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Net sales and contracts completed 128,876,425 155,805,452
Cost of sales and services (103,747,036) (112,553,753)
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Gross Profit
25,129,389 43,251,699
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Personnel expenses
(2,005,677) (1,902,273)
General and administrative expenses (3,706,340) (3,221,344)
Research and development costs (2,136,900) (1,457,122)
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(7,848,917) (6,580,739)
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Operating profit
17,280,472 36,670,960
Interest income
468,026 122,142
Interest and back charges
(91,356) (204,402)
Foreign exchange gains / (losses) 5,183,670 (6,738,355)
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5,560,340 (6,820,615)
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Profit before taxes
22,840,812 29,850,345
Income and capital taxes (572,815) 452,469
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Net profit for the year
22,267,997 30,302,814
Retained earnings at beginning of year 40,264,762 46,960,094
Dividend
(40,061,557) (36,998,146)
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Retained earnings at end of year 22,471,202 40,264,762
========= =========
SC is considered small-sized in its line with favorable background. A
credit line up to USD 200,000 would appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Trading 2800 Chemicals
and Allied Products
Trading 2819 Industrial
inorganic chemicals,
Trading 2899 Chemical
preparations,
HARMONIZED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Trading 3800 Miscellaneous
chemical products
Trading 3823909050 Chemical
products and preparations of the chemical or allied industries
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Termite
treatment
Trader Termiticides
Trader Agricultural
insecticides
Trader Agricultural
pesticides
Trader Agricultural
products
Trader Chemical
products
Trader Agricultural
chemicals
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to India
Exporting to Pakistan
Importing from Asia
Importing from China
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. |
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%)