MIRA INFORM
REPORT
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Report Date : |
07.08.2010 |
IDENTIFICATION DETAILS
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Name : |
LEVACHEM
CO. LTD. |
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Registered Office : |
c/o
Hong Kong Secretarial Ltd., Room 1020-1021, 10/F., Ocean Centre, |
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Country : |
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Date of Incorporation : |
02.08.2002 |
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Com. Reg. No.: |
32858518 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of fine
chemicals, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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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
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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
LEVACHEM
CO. LTD.
ADDRESS
c/o
Room
1020-1021, 10/F., Ocean Centre,
PHONE: 2730 2999
FAX: 2527 1068
MANAGEMENT
Managing Director: Mr. Lu Min Yan
SUMMARY
Incorporated on: 2nd August, 2002.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing
Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
c/o
Room
1020-1021, 10/F., Ocean Centre,
Affiliated Company:-
Nanjing Levachem Co. Ltd.
2112,
[ Tel: 86-25-8324 7442~3, 8324 7445~7
Fax: 86-25-8324 7441
E-mail: sales@levachem.com]
BUSINESS REGISTRATION NUMBER
32858518
COMPANY FILE NUMBER
808808
MANAGEMENT
Managing Director: Mr. Lu Min Yan
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDERS
(As per registry dated 02-08-2009)
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Name |
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No. of shares |
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LU Min Yan |
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2,500 |
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CAI Jun |
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2,500 |
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LUO Kai Yu |
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2,500 |
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LIU Tong Qiu |
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2,500 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 02-08-2009)
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Name (Nationality) |
Address |
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LU Min Yan |
Room 206, No. 74-1, Dongwangfu
Yuan, Baixia, |
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CAI Jun |
No. 80, Guyi Lang, Xuanwu, |
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LUO Kai Yu |
No. 50, |
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LIU Tong Qiu |
Unit 2, No. 195-4, |
SECRETARY
(As per registry dated 02-08-2009)
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Name |
Address |
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Room 1020, 10/F., Ocean Centre, |
850271 |
HISTORY
The subject was incorporated on 2nd August, 2002 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, Exporter and Wholesaler.
Lines: All kinds of fine chemicals, etc.
Employees: Nil.
Materials/Commodities: Imports raw materials from European countries, some Asian countries and finished
products from
Markets:
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Keeping a balance account in
Condition: Business is not active in
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai
Banking Corp. Ltd.,
Standing: Small.
GENERAL
Having
issued 10,000 ordinary shares of HK$1.00 each, Levachem Co. Ltd. is equally
owned by Mr. Lu Min Yan, Mr. Cai Jun, Mr. Luo Kai Yu and Mr. Liu Tong Qiu. Being China I.D holders, all the shareholders
are also directors of the subject.
Currently, they are residing in
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 1020-1021, 10/F., Ocean Centre, Harbour City, 5 Canton Road, Tsimshatsui, Kowloon, Hong Kong known as Hong Kong Secretarial Ltd. which is handling its correspondences and documents. Hong Kong Secretarial Ltd. was also the corporate secretary of the subject, however, it resigned on 19th May, 2010.
The
subject has no employees in
To
our knowledge, the subject has had a main affiliated company Nanjing Levachem
Co. Ltd. [Nanjing Levachem] which is in
The subject and Nanjing Levachem form the Levachem Group.
Levachem Group was established in 2001. It has had four cooperating manufacturers that are engaged in producing fine chemicals, diversified pharmaceuticals, agrochemical ingredients and other high technology products.
The following firms are its partners:-
· Xin Yuan Fine Chemical Co. Ltd. — Produce Dyestuff / Pigment / Agrochemical Intermediates and Special chemicals, etc.
· Tian Ma Fine Chemical Co. Ltd. — Produce Pharmaceutical Ingredients, such as N-octyl D-Glucmine, etc.
· Xing Nong Chemical Co. Ltd. — Produce Agrochemical and intermediates, etc.
· Lixin Chemical Co. Ltd. — Produce Dyestuff Intermediates, such as Bromamine acid, 1-amino anthraquinone, etc.
Nanjing
Levachem is marketing the above-mentioned firms products. Most of the chemicals are exported to Europe,
the Middle East, Africa, Oceania, Asian countries, North America, Central and
Nanjing Levachem is also operated and owned by the four shareholders of the subject.
It
is likely that Nanjing Levachem deals with foreign parties under the name of
the subject and let foreign firms correspond with the subject’s registered
address in
The
subject’s business in
Since
the subject does not have its own operating office and has no employees in
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.46.02 |
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|
1 |
Rs.73.21 |
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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 |
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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 |
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 |
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.