MIRA
INFORM REPORT
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Report Date : |
21.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
HELM HONG KONG LTD |
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Registered Office : |
Rm 1301-2 China Resources Bldg, 26 Harbour Rd Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
October 4, 1983 |
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Com. Reg. No.: |
0128897 |
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Legal Form : |
Private |
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Line of Business : |
Importing wide range of chemicals and synthetic rubbers. Sale and distribution of imported 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 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exists |
name & address
HELM HONG KONG LTD
RM 1301-2 CHINA RESOURCES BLDG
26 HARBOUR RD WANCHAI, HONG KONG.
TEL : 852-28278068
FAX : 852-28276023
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 4, 1983
REGISTRATION NO. :
0128897
LEGAL FORM : PRIVATE
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
20
CAPITAL :
US$ 192,555
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 80,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78434 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M – million
HKD –Hong Kong Dollars
*Company Registration*
===================
(1)
License number : 0128897
Date issued : 4 October,
1983
Issuing authority : Companies
Registry
Legal form : Limited
Liability Company
Type of license : Corporate
(2)
License number : 08696875-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Company Name*
=============
Incorporated as : HELM HONG
KONG CHEMICALS LTD
Date of incorporation : 4
October, 1983
Changed name to : HELM
HONG KONG LTD
Date of change : 14
July, 1999
*Office & Facilities*
================
Other e-mail add : h.paul@helm.co.hk
*Capital Details*
============
Authorized capital : HKD 1,500,000.00 divided into 1,500 ordinary shares
at HKD 1,000.00/-each, fully-paid
*Approved Signatures*
=================
FIDUCIA LTD can sign on behalf of the company with seal affixed.
www.helm.com.hk SC’s website is unable to be
landed at present for the technical reason.
E-mail: mail@helm.com.hk
Litigation ( 1 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong CONTINENTAL
INT'L CO
Case Issue : A petition to the court claiming for bounced checks (filed
under case no. A06-2133).
Court : High Court, Hong Kong
Date Commenced : 26 September, 2006
Status : Pending
*Major Shareholders*
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Total number of shareholders
: 1
Total number of ordinary shares : 1,500
Shareholder's Name No. of
Ordinary Shares Amount of Shares (HKD) % of Shares
---------------------------
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----------------------------------
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HELM AG
1,500
1,500,000.00 100.00
*Corporate Secretary*
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FIDUCIA LTD
CR no. : 113434
Address : 12Fl Fortis Bank Tower 77 Gloucester Rd Hong Kong
Management: Mr. Meno Hans Friedrick Struck, Managing Director
Name Nationality
Job Description
Mr. Meno Hans Friedrick Struck German
Managing Director
*Key Personnel*
============
Meno Hans Friedrick Struck
Passport no. : 1320234223
Address : Kraehenhorst 22,
Hamburg, Hamburg, 22587 Germany
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing wide range of chemicals and synthetic rubbers.
2. Sale and distribution of imported products to local and overseas
markets.
Products: Acetone
Aldehydes
Ascorbate
sodium
Ascorbic acids
Caprolactam
*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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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)
===============================
Company Name : HELM AG - BEIJING REPRESENTATIVE OFFICE
Address : 754 New Century Office Tower 6 Shoudu Tiyuguan Nanlu Beijing
100044 China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : HELM AG - SHANGHAI REPRESENTATIVE OFFICE
Address : Rm 2706 Union Bldg 100 Yanan Dong Lu Shanghai 200002 China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : HELM GUANGZHOU LTD
Address : 3109 Metro Plaza 183 Tian He Bei Rd Guangzhou 510075 Guangdong
China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
PAYMENT RATING : 3 OBTAINED SCORES : 63
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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.
As a private limited company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank name : DEUTSCHE BANK AG
Branch : Hong Kong
*Financial Summary (Currency: U.S. $'s)
============================
Year Sales Assets Net Income
2003 $69,230,769.23 n/a n/a
SC is considered small-sized in its line with a long history. Taking
into consideration of SC’s general performance, a credit line up to USD 80,000
would appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 1479 Chemicals
and fertilizer minerals
Trading 2800 Chemicals
and Allied Products
Trading 2821 Plastics materials
and resins
Trading 2822 Synthetic
rubber
Trading 2899 Chemical
preparations,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2707200000 Toluene
Trading 2707600000 Phenols
Trading 2906110000 Menthol
Trading 2907295000 Other
polyphenols
Trading 2909 Ethers,
ether-alcohols, alcohol peroxides etc.
Trading 2912 Aldehydes,
its cyclic polymers; paraformaldehyde
Trading 2914 Ketones
& quinones & halogenatd, sulfonatd der etc
Trading 2914110000 Acetone
(propanone)
Trading 2936 Provitamins
and vitamins & derivatives & intermixs
Trading 2936270000 Vitamin
c (ascorbic acid) and its derivatives
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Caprolactam
Trader Polymers
Trader Fine
chemicals
Trader Ascorbic
acids
Trader Ascorbate
sodium
Trader Cefadroxil
Trader Chlortetracycline
Trader Zinc
bacitracin
Trader Vitamin B
Trader Guar gum
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to India
Exporting to South Korea
Exporting to Taiwan
Exporting to Vietnam
Importing from Asia
Importing from China
Importing from Europe
Importing from Germany
Importing from India
Importing from Indonesia
Importing from South Korea
Importing from Taiwan
Importing from United Kingdom
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%)