MIRA
INFORM REPORT
|
Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HONGKONG POLYCHEM CO |
|
|
|
|
Registered Office : |
RM 1002, 10FL Wah Yuen Bldg 149 Queen's Rd Central |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
09.03. 1989 |
|
|
|
|
Com. Reg. No.: |
12549373-000 |
|
|
|
|
Legal Form : |
Sole-Proprietorship |
|
|
|
|
Line of Business : |
Trading of Polychemical Products.
|
RATING &
COMMENTS
|
MIRA’s 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. |
Small |
|
Maximum Credit Limit : |
USD 50,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name & address
HONGKONG
POLYCHEM CO
RM 1002, 10FL WAH YUEN BLDG
149 QUEEN'S RD CENTRAL, HONG KONG.
TEL: 852-25412111 FAX: 852-28541094
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 9, 1989
REGISTRATION NO. :
12549373-000
LEGAL FORM :
SOLE-PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. LOMESH DEVDAS APPAN (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
N/A
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 50,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80689 = 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*
===================
License number : 12549373-000
Date issued : 9 March, 1989
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
SC is not known to host website of its own at present.
E-mail: info@appans.com
For the past two years there is no record of litigation.
Based on corporate filing regulations for this type of entity in Hong
Kong, there is either, no requirement for Shareholders or no requirement for
public disclosure of Shareholders.
SC declined to release its management background at present.
*Main Products & Services*
======================
Specializes in trading of polychemical products.
Products: Polychemicals
*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.
*International Trade Activity*
=======================
There is no record of export and import since the prime focus of the
firm's activity is concentrated on local sales and purchases only.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
50
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
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.
As a sole proprietorship there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a development history of
19 years. Taking into consideration of SC’s general performance, a credit line
up to USD 50,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 5169 Chemicals/Allied
Prdts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3800 Miscellaneous
chemical products
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. |
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 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%)