MIRA INFORM
REPORT
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Report Date : |
07.08.2010 |
IDENTIFICATION DETAILS
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Name : |
ARKEMA BEIJING CHEMICAL CO., LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
01.04.1993 |
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Com. Reg. No.: |
110000410042972 |
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Legal Form : |
Wholly Foreign Owned |
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Line of Business : |
manufacturing and selling
chemical products. |
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 : |
usd 200,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & Address
ARKEMA BEIJING
CHEMICAL CO., LTD.
NO.
TEL: 86 (0) 10-61564749 FAX: 86 (0) 10-61564746
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 1, 1993
REGISTRATION NO. : 110000410042972
REGISTERED LEGAL FORM : WHOLLY FOREIGN OWNED
STAFF STRENGTH :
91
REGISTERED CAPITAL : USD 10,736,365
BUSINESS LINE :
MANUFACTURING
TURNOVER : cny 304,430,000 (AS OF DEC. 31, 2009)
EQUITIES :
cny 50,390,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.83= USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
SC was registered as a wholly foreign owned enterprise at
local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on Apr. 1, 1993.
Company Status: Wholly foreign-owned enterprise
This form of business in PR China
is defined as a legal person. It is a limited co. established within the
territories of PR China with capital provided totally by the foreign investors.
More than one foreign investor may jointly invest in a wholly foreign-owned
enterprise. The investing party/parties solely exercise management, reap profit
and bear risks and liabilities by themselves. This form of companies usually
have a limited duration is extendible upon approval of Examination and Approval
Authorities.
SC’s registered business scope includes manufacturing plastic additive,
catalytic agent, coating and skin milk products; selling its products;
wholesaling, importing and exporting the above products.
SC is mainly engaged
in manufacturing and selling chemical products.
Mr. Dominique
Namer is now acting as chairman of SC.
SC is known
to have approx. 91 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial development zone of Beijing. Our
checks reveal that SC owns the total premise about 15,000 square meters.
http://www.arkema.com It is the
website of Arkema. The design is professional and the content is well
organized. At present it is in English and French versions.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Arkema (
Arkema
is a leading chemical producer in most of its markets which consists of 3
related and integrated business segments: Vinyl Products, Industrial Chemicals
and Performance Products. Arkema was spun off from Total on May 12, 2006, and is
now an independent chemical company, with operations in more than 120 locations
(80 plants and 6 research centers) located in over 40 countries, with 15,000
employees worldwide and sales of EUR 5.6 billion. Operating in
Website: http://www.arkema.com.cn/
Address:
Tel: 021-61476888
Fax: 021-61476777
l
Chairman:
Mr. Dominique Namer, French, in his
Working Experience(s):
Now Working
in SC as chairman.
Also working in Arkema Greater China as president, and in Arkema Daikin Advanced Fluorochemicals (Changshu) Co., Ltd. as legal representative.
l
General Manager:
Mr. Xing Jinsheng, in his
Working Experience(s):
Now Working in SC
as general manager.
SC is mainly
engaged in manufacturing and selling chemical products.
SC’s products
mainly include: chemical materials and chemical products.
SC sources its materials
100% from domestic market. SC sells 40% of its products in domestic market, and
60% to the overseas market, mainly
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Arkema Daikin Advanced Fluorochemicals (Changshu) Co., Ltd.
================================================
Add: No. 18,
18
Tel: 86(0) 512-52325965
Fax: 86(0) 512-52325965
According
to http://www.arkema.com.cn/
Arkema
(
==============================
Add:
D.Part, No. 28 Warehouse
Tel:
(+86) 21 5046 1605
Fax:
(+86) 21 5046 1732
Arkema
(
==========================================
Add:
Unit 2401-04,
Tel:
(+86) 20 8700 7133
Fax:
(+86) 20 8732 7728
Arkema
Company Limited
===================
Add:
Tel: (852) 2629-1826
Fax: (852) 2629-1877 & 1878
Arkema
Limited Company -
================================
Add:
8/F-5,
Tel:
(+886) 2 2747 6979
Fax:
(+886) 2 2747 6574
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment and our debt collection record concerning SC.
Trade payment experience : SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent
payment record: None in our database.
Debt collection record: No overdue amount owed by SC was placed to us for
collection within the last 6 years.
Bank of
AC#：801311890008091001
Relationship:
Balance Sheet
Unit: CNY’000
|
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As of Dec. 31, 2008 |
As of Dec. 31, 2009 |
|
Cash & bank |
1,770 |
1,380 |
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Inventory |
79,980 |
26,350 |
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Accounts
receivable |
20,710 |
44,430 |
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Advances to
suppliers |
600 |
640 |
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Other
receivables |
3,920 |
1,820 |
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Other current
assets |
1,980 |
27,110 |
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|
---------------- |
--------------- |
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Current assets |
108,960 |
101,730 |
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Fixed assets net
value |
33,480 |
28,600 |
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Projects under
construction |
5,070 |
5,260 |
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Long term
investment |
0 |
0 |
|
Other assets |
40 |
30 |
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----------------- |
--------------- |
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Total assets |
147,550 |
135,620 |
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|
============ |
============ |
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Short loans |
32,610 |
23,900 |
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Accounts payable |
16,530 |
28,170 |
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Advances from
clients |
120 |
1,150 |
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Taxes payable |
1,090 |
1,970 |
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Salaries payable |
960 |
1,210 |
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Other payable |
2,240 |
25,940 |
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Other current
liabilities |
42,770 |
2,890 |
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----------------- |
------------------- |
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Current
liabilities |
96,320 |
85,230 |
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Long term
liabilities |
0 |
0 |
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----------------- |
------------------- |
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Total
liabilities |
96,320 |
85,230 |
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Equities |
51,230 |
50,390 |
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|
------------------ |
------------------- |
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Total
liabilities & equities |
147,550 |
135,620 |
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|
============ |
=========== |
Income Statement
Unit: CNY’000
|
|
As
of Dec. 31, 2009 |
|
Turnover |
304,430 |
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Cost of goods
sold |
277,250 |
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Sales expense |
11,330 |
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Management expense |
15,470 |
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Finance expense |
1,030 |
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Profit before
tax |
-840 |
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Less: profit tax |
0 |
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Profits |
-840 |
Important Ratios
=============
|
|
2008 |
2009 |
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*Current ratio |
1.13 |
1.19 |
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*Quick ratio |
0.30 |
0.88 |
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*Liabilities
to assets |
0.65 |
0.63 |
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*Net profit
margin (%) |
/ |
-0.28 |
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*Return on
total assets (%) |
/ |
-0.62 |
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*Inventory
/Turnover ×365 |
/ |
32days |
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*Accounts
receivable/Turnover ×365 |
/ |
53days |
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*Turnover/Total
assets |
/ |
2.24 |
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* Cost of
goods sold/Turnover |
/ |
0.91 |
PROFITABILITY:
FAIR
l
The turnover of SC appears fairly good in 2009.
l
SC’s net profit margin is fair in 2009.
l
SC’s return on total assets is fair in 2009.
l
SC’s cost of goods sold is fairly high in 2009,
comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in both 2 years.
l
SC’s quick ratio is maintained in a poor level in
2008 and in a normal level in 2009.
l
The accounts receivable of SC is average in both 2
years.
l
The inventory of SC is fairly large in 2008, and
average in 2009.
l
The short loans of SC are average in both 2 years.
l
SC’s turnover is in a fairly good level in 2009,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average in both 2 years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC is considered medium-sized in its line with fairly stable financial
conditions. A credit line up to USD 200,000 appears acceptable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.02 |
|
|
1 |
Rs.73.21 |
|
Euro |
1 |
Rs.60.70 |
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.