MIRA
INFORM REPORT
|
Report Date : |
06.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ROHM AND HAAS INDIA PRIVATE LIMITED |
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Registered Office : |
121-122,
Solitaire Corporate Park, Chakala, Andheri Kurla Road, Andheri (East), Mumbai
– 400 093, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
14.03.1995 |
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Com. Reg. No.: |
11-66312 |
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CIN No.: [Company
Identification No.] |
U51909DL1995PTC066312 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR14396E |
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PAN No.: [Permanent
Account No.] |
AAACR2855F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporters of all types of organic,
inorganic polymers, etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3400000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Rohm and Haas worldwide. General financial
position is satisfactory. Indian operations have some accumulated losses.
Payments are usually made as per commitments. In view of strong promoters, it can be considered good for normal
business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Nilesh Mishra |
|
Designation : |
Accountants |
|
Date : |
04.10.2008 |
LOCATIONS
|
Registered
Office : |
121-122,
Solitaire Corporate Park, Chakala, Andheri Kurla Road, Andheri (East), Mumbai
– 400 093, Maharashtra, India |
|
Tel. No.: |
91-22-56929100 /
66929100 |
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Fax No.: |
91-22-56989146 /
66989142 |
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E-mail: |
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Location: |
Leased |
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Head Office/ Factory : |
Unit I & II,
2nd Floor, Building 1, Solitaire Corporate Park, Chakala, Andheri-Kurla Road,
Andheri (East), Mumbai – 400 093, Maharashtra, India |
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Tel. No.: |
91-22-56929100 |
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Fax No.: |
91-22-56989146 |
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Factory 2 : |
Plot No. T-22/PT,
MIDC Taloja Industrial Area, Dist. Raigad – 410 208, Maharashtra, India |
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Tel. No.: |
91-22-27412476/
79 |
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Fax No.: |
91-22-27410564 |
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Overseas
Offices : |
ARGENTINA Australia Tel.:
(61)-3-9272-4222 Fax:
(61)-3-9272-4211 Belgium Tel.: (32)
3-543-6192 Fax:
(32)-3-541-7769 BraziL Edificio Morumbi
Office Tower, Avenida Roque Petroni Jr., 999 9o, andar, CEP 04707-000 -- São
Paulo, Brazil Tel.:
55-11-5185-9000 Fax:
55-11-5182-5110
Tel.:
(1)-416-284-4711 Fax:
(1)-416-287-4423
Av. El Bosque
Norte 0107 - Of. 51, Santiago, Chile Tel.:
(56)-2-233-5781 Fax:
(56)-2-232-6768
Tel.:
(86)-21-6921-1018 Fax:
(86)-21-6921-1001 Colombia Calle 72, N°
12-65, 6° Piso, Bogotá, Colombia Tel.: (57)-1-312
4545 Fax: (57)-1-212
1604
Tel.: (33)-1 40
02 54 47 Fax: (33)-1 40 02
50 12
Tel.: (49)-69 789
96 122/176 Fax: (49)-69 789
42 456
G.P.O. Box 10542,
Hong Kong Tel :
(852)-2868-1383 Fax :
(852)-2845-2555 Hungary Tel : (36)-1-202
22 91 Fax : (36)-1-202
23 91
Tel.:
(62)-21-252-0535 Fax :
(62)-21-252-2805
Tel.: (39)-331
839 329 Fax: (39)-331 839
596
KSP Bldg. D-10F,
3-2-1 Sakado, Takatsu-ku, Kawasaki, Kanagawa Pref.213-0012, Japan Tel.:
(81)44-814-8100 Fax:
(81)44-814-8121
Seoul 135-973 Tel.:
(82)-2-555-7600 Fax:
(82)-2-555-0231 Malaysia 59200 Kuala
Lumpur, Malaysia Tel.:
(60)-3-2938-3866 Fax:
(60)-3-2938-3380 Mexico Tel.:
(52)-55-5081-6666 Fax:
(52)-55-5081-6653, (55)-5081-6669
16 Beach Road,
Otahuhu, Auckland 6, New Zealand Tel.:
(64)-9-276-7154 Fax: (64)-9-276-5518 Pakistan Tel.:
(92)-21-231-0436 Fax:
(92)-21-231-4940 Philippines Tel.:
63-2-871-0731 to 37 Fax:
63-2-873-0815 Russia Rohm and Haas
(UK) Limited, Khlebny Pereulok #19A, 8th Floor, 121069 Moscow, Russia Tel.: (7) 505-726
59 29 / 095-291 08 45 Fax: (7) 505-726
59 16 Singapore Singapore
Technical Centre, No.11 Tuas Avenue 12, Singapore 639034 Tel.:
(65)-6861-1077 Fax:
(65)-6861-6865
Tel.: (34)-93 227
1924 Fax: (34)-93 323
6045
8 Schafer Road,
PO Box 2434, New Germany 3610, South Africa Tel.:
(27)-31-705-3260 Fax:
(27)-31-705-3111
Tel.:
(46)-418-450 437 Fax: (46)-418-450
499 Taiwan Tel.:
(886)-2-2898-1500 Fax: (886)-2-2898-1213
Tel.:
(66)-2-679-1030 Fax:
(66)-2-679-1039
Lennig House, 2,
Mason's Avenue, Croydon CR9 3 NB – England Tel.: (44)-208
774 53 72/73 Fax: (44)-208 774
53 77
Ion Exchange
Resins, 100 Independence Mall West, Philadelphia, PA 19106-2399 Tel.:
800-RH-AMBER (US and Canada) or
(1)-215-592-2038 Fax:
(1)-215-409-4534
Tel.:
84-8-8226868 Fax:
84-8-822-6969 |
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Branches : |
105, Gauri
Commercial, Sector II, CBD Belapur, Navi Mumbai – 400 614, Maharashtra, India
|
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Tel. No.: |
91-22-27565229 /
27580075 |
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Fax No.: |
91-22-27565226 |
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Contact Person
: |
Mr. B. V. Iyer |
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Branches : |
Other Branches Located at: Chennai |
DIRECTORS
|
Name : |
Mr. Harish V.
Badani |
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Designation : |
Managing Director |
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Address : |
602, Brentwood,
Main Street, Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra ,
India |
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Date of
Birth/Age : |
12.12.1962 |
|
Qualification
: |
05.09.2000 |
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Name : |
Mr. David D.
Glass |
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Designation : |
Director
(Foreign) |
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Address : |
China |
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Date of Birth
: |
27.09.1959 |
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Date of
Appointment : |
07.09.2001 |
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Ceasing Date : |
26.08.2003 |
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|
Name : |
Mr. Wen Ruoyang
Zhou |
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Designation : |
Director
(Foreign) |
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Address : |
China |
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Date of Birth
: |
18.06.1966 |
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Date of
Appointment : |
07.09.2001 |
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Ceasing Date : |
30.12.2002 |
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|
Name : |
Mr. James F. Fox |
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Designation : |
Director
(Foreign) |
|
Address : |
U.S.A. |
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Date of Birth
: |
03.09.1944 |
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Date of
Appointment : |
07.09.2001 |
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Ceasing Date : |
30.12.2002 |
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|
Name : |
Mr. Thomas P.
Grehl |
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Designation : |
Director
(Foreign) |
|
Address : |
No. 23, Alley 88,
Lane 25 Tung Shan Road, Shihlin 111, Taipei, Taiwan |
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Date of Birth
: |
20.04.1955 |
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Date of
Appointment : |
30.12.2002 |
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Name : |
Mr. Mark Peter
Maguire |
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Designation : |
Director
(Foreign) |
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Address : |
Homat Pearl # 301
3-8-50 Moto Azabu Minato Ku, Tokyo 106-0046, Japan |
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Date of Birth
: |
30.03.1951 |
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Date of
Appointment : |
30.12.2002 |
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Name : |
Mr. Cherry Chihua
Fam |
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Designation : |
Director
(Foreign) |
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Address : |
RM 2002, Gate 28,
968, Wan Ping Road, Sout, Shanghai, China |
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Date of Birth
: |
12.01.1961 |
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Date of
Appointment : |
30.12.2002 |
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|
Name : |
Mr. Robert
Everett |
|
Designation : |
Director
(Foreign) |
|
Address : |
27-A, Carlton
Street, Mckinnon Victoria 3204, Australia |
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Date of Birth
: |
15.09.1953 |
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Date of
Appointment : |
26.08.2003 |
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|
Name : |
Mr. Raman Gopal |
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Designation : |
Director |
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Address : |
B-701, Dara
Enclave, AWHO Sector 9, Nerul, Navi Mumbai, Maharashtra, India |
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Date of Birth
: |
02.03.1966 |
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Date of
Appointment : |
30.12.2002 |
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|
Name : |
Mr. Peter A.
Holmes, Singapore |
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Designation : |
Director |
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Date of
Appointment : |
10.02.1999 |
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|
|
|
Name : |
Mr. Frank T.
Maher, Singapore |
|
Designation : |
Director |
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Date of
Appointment : |
10.02.1999 |
|
|
|
|
Name : |
Mr. Macario A.
Sarreal, USA |
|
Designation : |
Director |
|
Date of
Appointment : |
06.09.1996 |
|
|
|
|
Name : |
Mr. Reuban
Salazar, Delhi, India |
|
Designation : |
Director |
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Ceasing Date : |
10.02.1999 |
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|
|
|
Name : |
Mr. George
Presains |
|
Designation : |
Director |
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|
Name : |
Mr. Macario
Sarreal |
|
Designation : |
Director |
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|
Name : |
Mr. Rahul Jhalwad |
|
Designation : |
Director |
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Address : |
D /202, Gardenia Gundechas Valley of Flower, Thakur Village, Kandivali
(Eats), Mumbai – 400 101, Maharashtra, India |
|
Date of Birth/Age : |
28.02.1978 |
|
Date of Appointment : |
01.08.2004 |
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|
Name : |
Mr. Joan Schuller |
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Designation : |
Director |
|
Address : |
5 Nathan Road, # 01-03 Regency Park, Singapore |
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Date of Birth/Age : |
07.04.1972 |
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Date of Appointment : |
01.11.2004 |
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|
|
Name : |
Mr. Pavan Kumar |
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Designation : |
Director |
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Address : |
Flat No. 302, Flora 13th Road, Khar (West), Mumbai – 400
052, Maharashtra, India |
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Date of Birth/Age : |
01.09.1959 |
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Date of Appointment : |
01.11.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders (As on 31.03.2006):- |
|
No. of Shares |
|
|
|
|
|
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|
(Equity Shares):- |
|
|
|
|
Rohm and Haas India Investment APs |
|
35767500 |
|
|
Rohm and Haas Denamrk APs |
|
5000 |
|
|
|
Total
|
35772500 |
|
|
|
|
||
|
Equity Share Break Up (As on 31.03.2006):- |
Percentage |
||
|
Foreign holdings
(Foreign institutional investors ) foreign companies foreign financial
institutions , non residents or Overseas corporate bodies or others |
100 % |
||
|
Total |
100
% |
||
BUSINESS DETAILS
|
Line of
Business : |
Manufacturer and Exporters of all types of organic,
inorganic polymers, etc. |
|
|
|
|
Products : |
>
ROPAQUE OP
62 >
PRIMAL AC
261 >
PRIMAL PS 70 |
|
|
|
|
Product range
: |
·
Ropaque OP
62 ·
Primal AC
261 ·
Primal TR
407 ·
Ropaque OP
96 ·
Mor Free 403
LV Adhesives Ø Adcote Solvent Based Adhesives Ø Mor-Free and Mor-Quik Solvent-Free
Adhesives Ø Coseal and Robond CS Cold Seal Adhesives Ø Robond L Water-Based Adhesives Ø Lamal Alcohol-Based Adhesives Coatings Ø Adcote Solvent Based and Water-Based Heat
Seal Ø Mor-Prime Polypropylene Dispersions Ø Adcote Solvent and Water Based Primers Ø Serfene Barrier Adhesives and Coatings Construction Ø Caulks and Sealants Ø Construction Adhesives Ø Adhesive
Compounding |
GENERAL
INFORMATION
|
No. of
Employees : |
30 |
|
|
|
|
Bankers : |
· Standard Chartered Grindlays Bank Limited, Dr. D. N. Road, Mumbai, Maharashtra , India · Citibank N. A. |
|
|
|
|
Facilities : |
The company
enjoys Short Term Loan facility from Standard Chartered Grindlays Bank
Limited |
|
|
|
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Banking Relations : |
Satisfactory |
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|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse
& Company Chartered
Accountants |
|
Address: |
252, Veer
Savarkar Marg, Shivaji Park, Dadar, Mumbai -400 028, Maharashtra, India |
|
|
|
|
Parent Company
: |
· Rohm & Haas Company, USA |
|
|
|
|
Holding
Company: |
· Rohm and Haas India Investments APs |
|
|
|
|
Associates : |
Ø Rohm and Hass Argentina S.R.L Ø Rohm and Hass Australia Pty. Limited Ø Rohm and Hass Benelux N.V Ø Rohm and Hass Quimica Ltda Ø Rohm and Hass Canada Inc Ø Rohm and Hass Chile Ltda Ø Rohm and Hass Sandgahai Chemical Industry Ø Rohm and Hass Malaysia Sdn Bhd Ø Rohm and Hass Mexico S.A. de C.V Ø Rohm and Hass New Zealand Limited Ø Rohm and Hass Asia, Inc, Karachi Ø Rohm and Hass Philippines, Inc Ø Rohm and Hass (UK) Limited Ø Rohm and Hass Singapore Limited Ø Rohm and Hass Colombia S.A Ø Rohm and Hass France S.A Ø Rohm and Hass Deutschland GmbH Ø Rohm and Hass China Inc Ø Rohm and Hass Austria GmbH Ø Rohm and Hass Espana S.A Ø Rohm and Hass South Africa (Pty) Limited Ø Rohm and Hass Nordiska A. B. Ø Rohm
and Hass Taiwan, Inc Ø Rohm and Hass Chemical (Thailand) Limited Ø Rohm and Hass Japan K. K.. Ø Rohm and Hass Korea Company Limited Ø Rohm and Hass Asia, Inc |
CAPITAL STRUCTURE
(As on
31.03.2006):-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs. 10/- each |
Rs.400.000 millions |
|
55000000 |
Preference Shares |
Rs. 10/- each |
Rs.550.000 millions |
|
|
|
Total |
Rs.950.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35772500 |
Equity Shares |
Rs. 10/- each |
Rs.357.725
millions |
|
53412000 |
Preference Shares |
Rs. 10/- each |
Rs.534.120
millions |
|
|
|
Total |
Rs.891.845 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
357.725 |
357.725 |
|
|
2] Share Application Money |
|
534.120 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
[225.917] |
[249.470] |
|
|
NETWORTH |
|
665.928 |
108.255 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
914.915 |
914.915 |
|
|
TOTAL BORROWING |
|
914.915 |
914.915 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1580.843 |
1023.170 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
791.514 |
833.999 |
|
|
Capital work-in-progress |
|
60.109 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
278.228 |
265.917 |
|
|
Sundry Debtors |
|
368.395 |
378.658 |
|
|
Cash & Bank Balances |
|
575.498 |
24.126 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
199.418 |
134.007 |
|
Total
Current Assets |
|
1421.539 |
802.708 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
683.873 |
607.855 |
|
|
Provisions |
|
8.446 |
5.682 |
|
Total
Current Liabilities |
|
692.319 |
613.537 |
|
|
Net Current Assets |
|
729.220 |
189.171 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1580.843 |
1023.170 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
1668.749 |
1174.297 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
1668.749 |
1174.297 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
26.054 |
[37.534] |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
26.054 |
[37.534] |
|
|
|
|
|
|
|
|
Export Value |
|
444.176 |
312.883 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Interest |
|
33.303 |
29.324 |
|
|
Depreciation & Amortization |
|
75.846 |
74.389 |
|
|
Other Expenditure |
|
1533.546 |
1108.118 |
|
Total Expenditure |
|
1642.695 |
1211.831 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
1.56 |
3.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
1.56 |
3.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.15 |
2.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.04 |
[0.37] |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.41 |
14.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.05 |
1.31 |
LOCAL AGENCY
FURTHER INFORMATION
Company Profile:
-
The company is producing resins in 7 state-of-the-art
plants in 5 different countries. The company's policy is to be close to its
customers and to offer unique specialties for specific applications.
The company
is in position to supply the highest quality products to all its
customers.
The company has been
accredited with ISO 9002 certification.
The company also had the most complete worldwide network of sales offices,
with the company's personnel trained in ion exchange in 28 countries, plus
representatives in many additional locations.
FIXED ASSETS:-
· Leasehold Improvements
· Office Equipments
· Furniture and Fixtures
· Vehicles.
PRESS REALEASE:-
Rohm and Haas is a US$ 6 billion speciality materials company which
develops and delivers technically advanced materials around the world.
Headquartered in Philadelphia, USA, Rohm and Haas operates approximately 100
manufacturing, technical service and research facilities in more than 25
countries. Dedicated to delivering new products and excellent technical service
for the markets they serve Rohm and Haas has been operating in India as a
wholly owned subsidiary since 1995.
It`s products enjoy an excellent reputation and broad acceptance in the
domestic market. Some of the businesses already active in India include:
Adhesives and Sealants - The full range of adhesives for laminating,
pressure sensitive tapes and labels, rubber - to - metal bonding, packaging and
transportation applications. Some of the product names include MORFREE, ADCOTE,
ROBOND, MEGUM and THIXON.
Architectural and Functional Coatings- Providing technology used in
latex paints, textiles and nonwovens, construction, paper and leather.
Plastics and Additives - Impact modifiers, heat stabilisers, processing aids,
lubricants, waxes and antimicrobials, primarily destined for the PVC industry.
Process Chemicals - Products used for water treatment, chemical
processing and separation applications and other applications including
hydrocarbon retailing.
Consumer and Industrial Specialities - Polymers and biocides that are used in a
wide range of personal care and industrial applications.
- less, solvent - based and water - based laminating adhesive customers.
Rohm and Haas laminating and pressure sensitive adhesives comply with stringent
international standards of the US Food and Drug Administration (FDA) and
European regulatory bodies.
Philadelphia, PA, and Shanghai, China, June 29, 2005 — Rohm
and Haas Company (NYSE:ROH) today celebrated the official ground breaking for
its new China Research and Development Center in Shanghai. Located on
33,000 square meters (over eight acres) in the Zhangjiang Hi-Tech Park, Pudong
New Area, the world class facility will serve as the company’s primary research
and technical service headquarters for China and the Asia-Pacific region.
“This is an exciting and incredibly important day for our company, our
customers, and the more than 1,000 Rohm and Haas employees working in China and
the surrounding regions,” said Raj L. Gupta, chairman and chief executive
officer of Rohm and Haas Company. “For nearly 100 years, creative
chemistry and the innovative spirit of Rohm and Haas researchers have delivered
amazing technologies and products serving hundreds of markets. With next
year’s opening, this new research and development center will mark our ongoing
commitment to serving a rapidly growing customer base in the Asia-Pacific
region,” Gupta said.
Nearly 200 guests attended the event, including government officials
from Shanghai, Pudong New Area and Zhangjiang Hi-Tech Park. Other
dignitaries included officials from the People’s Republic of China Ministry of
Science and Technology and the U.S. Consulate General in Shanghai, managers
from Shanghai Zhangjiang (Group) Co., Ltd., representatives from customers and
neighboring companies, and Rohm and Haas employees and executives from around
the world.
Dr. Gary Calabrese, Rohm and Haas vice president and chief technology
officer, noted the importance of consolidating research under one
facility. “Providing our scientists, engineers, and technical service
professionals with first class facilities as we ramp up our research activities
in China has been a priority,” he said. “But equally important is
bringing not only researchers from different businesses together under one
roof, but also having marketing and sales employees located at the same
center. We typically see a broader set of ideas for new products and more
creative solutions to difficult challenges when our research and commercial
employees are co-located.”
Rohm and Haas’s new China Research and Development Center will include
two buildings: a four story research facility and a four story
administration building. Modern laboratory space, which will feature
state-of-the-art equipment and air handling systems, will be highly flexible to
meet future research needs. Meeting and conference rooms, a training
center, and offices will be located in the administration building, which will
also serve as the site’s main entrance. Both buildings will be shaped in
a “C” surrounding a landscaped internal garden. The garden will capture
the spirit of traditional Chinese landscape design, but interpreted with modern
materials.
The new site, expected to open in mid-2006, will initially employ about
350 Rohm and Haas researchers, technical service personnel, commercial and
sales professionals and functional staff. It has the flexibility to grow
with at least one additional multipurpose building for R & D, technical
service, customer service and commercial offices. The initial 350
employees will be relocated from other Rohm and Haas facilities throughout
Shanghai, but the site is capable of employing up to 1,500 employees. Rohm
and Haas will invest $30 million (U.S.) initially, although the total project
is estimated at up to $60 million (U.S.) if long-term growth necessitates site
expansion.
Sam Shoemaker, Asia-Pacific regional director for Rohm and Haas and
president of Circuit Board Technologies for Rohm and Haas Electronic Materials,
said the investment is important for the company to grow its presence in the
region and to more quickly develop and commercialize products that meet the
needs of local and regional customers. “From our initial, rather modest
facility that opened in Hong Kong in 1979 through today, we’ve seen steady—and
sometimes remarkable—demand for Rohm and Haas’s specialty materials used in
electronics, coatings, adhesives, personal care products, purification, and
plastics, to name just a few. As customers continue to look for advanced
technologies, having the infrastructure on the ground in this region is
critical to anticipate and quickly respond to unique needs. When the new
center opens in a year, it’ll mark a giant step in rapidly growing our presence
and product offerings in China,” he said.
Rohm and Haas operates more than 30 technical centers around the world,
with its research headquarters located in Spring House, Pennsylvania. The
company employs 2,300 researchers, technical service professionals, and
engineers worldwide, and expects to spend about $280 million on research and
development this year.
About Rohm and Haas Company
Rohm and Haas is a Philadelphia-based specialty
materials company which makes products for the personal care, grocery, home and
construction markets, and the electronics industry. The company had annual
sales of approximately $7.3 billion in 2004 with operations in 27 countries.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.88 |
|
UK Pound |
1 |
Rs.82.97 |
|
Euro |
1 |
Rs.64.99 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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%)
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 |
|