MIRA
INFORM REPORT
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Report Date : |
19.04.2011 |
IDENTIFICATION DETAILS
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Name : |
OXYDE CHEMICALS CHINA
LTD |
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Registered Office : |
Room 1507, 15/F., Emperor Group Centre, |
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Country : |
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Date of Incorporation : |
13.06.2007 |
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Com. Reg. No.: |
38221498 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all Kinds of Chemicals and Plastics,
Etc. |
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 |
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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
OXYDE CHEMICALS
CHINA LTD.
Company ADDRESS
c/o Tagent
Corporate Services Ltd.
Room 1507, 15/F.,
Emperor Group Centre,
PHONE: 2573 2686
FAX: 2574 2060
E-MAIL: fredwong@oxyde.com.hk
MANAGEMENT
Managing
Director: Mr. Fernando Rodriguez
SUMMARY
Incorporated on : 13th June, 2007.
Organization : Private Limited Company.
Capital: Nominal : HK$10,000.00
Issued : HK$1,000.00
Business Category : Chemical Trader.
Employee : 1.
Main Dealing Banker :
The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation : Satisfactory.
Company ADDRESS
Registered
Head Office:-c/o Tagent Corporate Services Ltd.
Room 1507, 15/F.,
Emperor Group Centre,
Holding Company
Oxyde
International Ltd.,
Ultimate
Holding Company:-Oxyde Chemicals Inc.,
Affiliated Companies
OCB Trading
OCI
OCV Trading
Oxyde
Oxyde Chemicals
Far East Ltd.,
Oxyde Chemicals
Korea Corporation,
Oxyde Colombia
S.A.,
Oxyde Quimica S.A.
de C.V.,
BUSINESS REGISTRATION NUMBER
38221498
COMPANY FILE NUMBER
1141183
MANAGEMENT
Managing
Director: Mr. Fernando Rodriguez
Contact
Person: Mr. Fred Wong
CAPITAL
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,000.00
SHAREHOLDER
(As
per registry dated 13-06-2010)
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Name |
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No.
of shares |
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Oxyde International Ltd. Arawak Chambers, Sea Meadow House, P.O. Box 173,
Blackburne Highway, Road Town, Tortola, British Virgin Islands. |
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1,000 ==== |
DIRECTOR
(As
per registry dated 13-06-2010)
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Name (Nationality) |
Address |
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Fernando
RODRIGUEZ |
Unit 7E, |
SECRETARY
(As
per registry dated 13-06-2010)
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Name |
Address |
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Tagent
Corporate Services Ltd. |
Room 1507, 15/F., Emperor Group Centre, |
0616242 |
HISTORY
The
subject was incorporated on 13th June, 2007 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 chemicals and plastics, etc.
Employee :1.
Commodities Imported :Europe,
Markets :Asia,
Europe,
Terms/Sales : L/C or as per contracted.
Terms/Buying : L/C, T/T, 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$1,000.00
Mortgage or Charge : (See attachment)
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.
Bankers
The Hongkong &
Shanghai Banking Corp. Ltd.,
DBS Bank (Hong Kong)
Ltd.,
Standing: Small.
GENERAL
Oxyde
Chemicals China Ltd. is a wholly-owned subsidiary of Oxyde International Ltd.
which is a BVI-registered firm. Its
ultimate holding company Oxyde Chemicals Inc. [Oxyde Chemicals] is a US-based
and registered firm.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Room
1507, 15/F., Emperor Group Centre, 288 Hennessy Road, Wanchai, Hong Kong known
as Tagent Corporate Services Ltd. which is handling its correspondences and
documents. Tagent Corporate Services
Ltd. is also the corporate secretary of the subject.
The
subject has one employee in
Oxyde
Chemicals was founded in 1924 trading in metals and minerals. In the early 1950s, it became an international
marketer of chemicals and plastics.
Today, its privately held company works and trades in more than 60
countries, serving its partners from regional centres.
Oxyde
Chemicals trades in those products that range from fibre intermediates like MEG
to plastic resins such as PVC. Today,
Oxyde Chemicals has had offices in countries around the globe; from the
Oxyde
Chemicals is registered with the Houston Minority Supplier Development Council
as a “Minority Business Enterprise” as defined by the National Minority
Supplier Development Council Inc. under NAICS Code 326122.
As
a vital international trading partner, Oxyde Chemicals offers customers with a
broad range of petrochemical and plastic raw materials. It is trading in the following products:-
·
Chemicals — Glycols, Solvents, Monomers, Aromatics,
Oxo‑Alcohols Plasticizers, Organic Intermediates, Inorganics, etc.
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Plastics — Vinyls, Polypropylene, Polyethylenel,
Polystyrene, Engineering Plastics, etc.
Oxyde
Chemicals has set up office and associated companies in
The
subject is fully supported by Oxyde Chemicals.
On the whole,
consider the subject good for normal business engagements.
COURT CASES: None per our.
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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11-12-2007 |
Instrument: Assignment
of DC Proceeds re export bills restricted to other banks for
negotiation/payment Property: By way of assignment or agreement to
assign in each case as beneficial owner.
All monies in any currency representing proceeds payable or to be paid
to the Customer under the Documentary Credits, all the Customer’s right,
title and interest in the said Documentary Credits and the benefit of all
powers and remedies for enforcing the Documentary Credits Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., |
All loans or other advances made or to be made by the Bank to the
Customer against documents submitted under a Documentary Credit, all monies
and liabilities in any currency owing by the Customer to the Bank at any
time, whether separately or jointly, actually or contingently, present or
future, interest on all loans and advances and such monies and all expenses
of the Bank in perfecting or enforcing the Assignment |
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11-12-2007 |
Instrument: Security
Over Deposits Property: The deposit with chargee in the amount of
US$150,000.00 and all monies under Deposit No. 808‑326482-274 whatever
currency it may subsequently be denominated in, any renewal of such deposit
and the interest thereon together with any further monies in any deposit
account with the chargee at any of its offices Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., |
Amount secured – (i) all monies in any currency owing by the Company
to the chargee at any time, actually or contingently, in any capacity, alone
or jointly with any other person; (ii) interest on such monies, to the date
on which the chargee receives payment, at the rates payable by the Company or
which would have been payable but for any circumstance which restricts
payment and (iii) all expenses of the chargee in perfecting or enforcing this
Charge |
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11-12-2007 |
Instrument: Assignment
of Property: The Customer as beneficial owner and by
way of security for the payment of the Secured Monies has assigned or agreed
to assign to the Bank (a) all monies in any currency representing proceeds
payable or to paid to the Customer under the Export Documentary Credits, (b)
all the Customer’s right, title, benefit and interest in the Export
Documentary Credits and (c) the benefit of all powers and remedies for
enforcing the Export Documentary Credits Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., |
All monies and liabilities in any currency |
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27-04-2010 |
Instrument: Charge
on Cash Deposit to secure Liabilities of the Depositor Property: 1) By way of first fixed charge
and agreement to charge: the Deposit and all right, title and interest of the
Company 2) By way of set-off: any sum standing to the
credit of any one or more of the accounts of the Company with the Bank Mortgagee: DBS
Bank (Hong Kong) Ltd., |
All sums of money and liabilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.27 |
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1 |
Rs.72.08 |
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Euro |
1 |
Rs.63.66 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.