MIRA
INFORM REPORT
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Report Date : |
27.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
REXCHEM
INTERNATIONAL CO. LTD. |
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Registered Office : |
15/F., Des
Voeux Commercial Centre, 212-214 Des Voeux Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.06.2004 |
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Com. Reg. No.: |
34650720 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of All kinds of Chemical Fertilizers
and Related 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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
REXCHEM INTERNATIONAL CO.
LTD.
ADDRESS
15/F., Des Voeux
Commercial Centre, 212-214 Des Voeux Road Central, Hong Kong.
PHONE: 2541 3176
FAX: 2542 3568
E-MAIL: rexchem@netvigator.com
MANAGEMENT
Managing Director: Mr. Mak Chi Hung
SUMMARY
Incorporated on: 14th June, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Chemical Fertiliser Trader.
Employees: 6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
15/F., Des Voeux Commercial
Centre, 212-214 Des Voeux Road Central, Hong Kong.
Affiliated Company:-
Rexchem International Enterprises Co., Hong Kong.
BUSINESS REGISTRATION NUMBER
34650720
COMPANY FILE NUMBER
906699
MANAGEMENT
Managing Director: Mr. Mak Chi Hung
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00 (Subscribers’ shares)
SUBSCRIBERS
(As per registry
dated 14-06-2008)
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Name |
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No. of shares |
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MAK Chi Hung |
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800,000 |
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WONG Chuen Fa |
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100,000 |
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WAN Kwai Lin |
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100,000 |
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–––––––– |
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Total: |
1,000,000 ======= |
DIRECTORS
(As per registry
dated 14-06-2008)
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Name (Nationality) |
Address |
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WAN Kwai Lin |
2/F., 166 San Hing Back Street, Cheung Chau, Hong Kong. |
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MAK Chi Hung |
2/F., Block A, 50 Hillside Road, Cheung Chau, Hong Kong. |
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WONG Chuen Fa |
2/F., Block A, 50 Hillside Road, Cheung Chau, Hong Kong. |
SECRETARY
WONG Chuen Fa (As per registry dated 14-06-2008)
HISTORY
The subject was incorporated on 14th June, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of chemical fertilizers and related chemicals.
Employees: 6
Commodities Imported: Imported from Germany, Switzerland, India, etc.
Markets: Hong Kong, Japan, South Korea, Southeast Asia, etc.
Terms/Sales: Cash or as per contracted.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00 (Subscribers’ shares)
Profit & Loss: Making a small profit.
Condition: Keeping in an active state.
Facilities: Making rather active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 1 million ordinary shares of HK$1.00 each, Rexchem International Co. Ltd. is jointly owned by Mr. Mak Chi Hung, holding 80% interest; Ms. Wong Chuen Fa, holding 10%; and Ms. Wan Kwai Lin, also 10%.
The subject has got an affiliated company Rexchem International Enterprises Co. which is a Hong Kong-registered firm.
The subject is trading in all kinds of chemical fertilisers. It exports “Controlled Release Urea” which is manufactured by its affiliated factory in Guangdong Province, China. It is specialized in alachlor 2, 4-D, glyphosate, metolachlor and propiconazole.
Most of the fertilisers are exported to Southeast Asia, Japan, South Korea, Africa, Americas, etc. Business has been fairly satisfactory.
The subject and its affiliates are operated from a rented office located at the present address.
Business mainly handled by Mr. Mak, the subject is responsible for supplying its affiliated fertiliser factory in China with chemical raw materials which are mainly imported from European countries and India.
It was reported that the subject has got an affiliated company known as Kawa Agricultural (Guangzhou) Co. Ltd. which is distributing its commodities in China.
On the whole, consider the subject good for normal business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.89 |
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UK Pound |
1 |
Rs.70.84 |
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Euro |
1 |
Rs.67.57 |
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%)