MIRA INFORM REPORT

 

 

Report Date :

10.06.2011

 

IDENTIFICATION DETAILS

 

Name :

INNOVA CHEMICAL CO.  LTD.

 

 

Registered Office :

C/o Hongkong Chinaflyhk Secretary Service Ltd.

Room 1202, 12/F., Tung Chun Commercial Centre, 438-444 Shanghai Street, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

06.01.2009

 

 

Com. Reg. No.:

50170427

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer and Exporter of all kinds of plastic raw materials, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Name and address

 

INNOVA  CHEMICAL  CO.  LTD.

 

 

ADDRESS:      

c/o Hongkong Chinaflyhk Secretary Service Ltd.

Room 1202, 12/F., Tung Chun Commercial Centre, 438-444 Shanghai Street, Kowloon, Hong Kong.

 

PHONE:            2137 5268

 

FAX:                 2137 5270

 

 

MANAGEMENT

 

Managing Director:  Mr. Ma Xue Peng

 

 

SUMMARY

 

Incorporated on:             6th January, 2009.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Chemical Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

ADDRESS

 

Registered Head Office:-

c/o Hongkong Chinaflyhk Secretary Service Ltd.

Room 1202, 12/F., Tung Chun Commercial Centre, 438-444 Shanghai Street, Kowloon, Hong Kong.

 

China Office:-

Guangzhou, Guangdong Province, China.

[Tel: 86-20-3762 1404;  Fax: 86-20-3762 1554]

 

China Factory:-

Dagang District, Tianjin, China.

 

 

BUSINESS REGISTRATION NUMBER

 

 50170427

 

 

COMPANY FILE NUMBER

 

 1298877

 

 

MANAGEMENT

 

Managing Director:  Mr. Ma Xue Peng

 

 

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

 

 

SHAREHOLDER

(As per registry dated 06-01-2011)

 

Name

 

No. of shares

MA Xue Peng

 

10,000

=====

 

DIRECTOR    

(As per registry dated 06-01-2011)

 

Name

(Nationality)

 

Address

MA Xue Peng

668 Huang Pu Da Dao Xi, Tianhe District, Guangzhou City, Guangdong Province, China.

 

 

SECRETARY

(As per registry dated 06-01-2011)

 

Name

Address

Co. No.

Hongkong Chinaflyhk Secretary Service Ltd.

Room 1202, 12/F., Tung Chun Commercial Centre, 438-444 Shanghai Street, Kowloon, Hong Kong.

0953587

 

 

HISTORY

 

The subject was incorporated on 6th January, 2009 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 and Exporter.

 

Lines:                           All kinds of plastic raw materials, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, Europe, other Asian countries, etc.

 

Markets:                       China, other Asian countries, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               L/C, 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 Hong Kong.

 

Condition:                      Business is not active in Hong Kong.

 

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., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, Innova Chemical Co. Ltd. is wholly owned by Mr. Ma Xue Peng who is a China merchant.  He is also the only director of the subject.  Ma is a China passport holder and does not have the right to reside in Hong Kong permanently.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 1202, 12/F., Tung Chun Commercial Centre, 438-444 Shanghai Street, Kowloon, Hong Kong known as Hongkong Chinaflyhk Secretary Service Ltd. which is handling its correspondences and documents.  This firm is also the corporate secretary of the subject.  The subject has no employees in Hong Kong.

To our knowledge, the subject has had an associated company Tianjin Innova Chemical Co. Ltd. [Innova] which is in Tianjin, China.  Innova has set up an office in Guangzhou, Guangdong Province, China.  Your given phone number and fax number belong to the Guangzhou Office of Innova.

Innova is specialized in offering chemical additive.  Its petroleum resin factory is located in Dagang, Tianjin, China.  The area of the factory is about 4,000 sq.m.  Innova’s main products are petroleum resin C9 and petroleum resin C5.  Its annual production capacity is 12,000 MT of C9 resin and 6,000 MT of C5 resin.

Innova’s factory is located in Fujian with an annual production capacity of 50,000 MT.  It has got ISO/TS 16949, FAMI-Qs and ISO 9001:2000 certifications.  Its factory has been equipped with advanced roller compactors from Germany Alexanderwerk Company to generate granular form of silica.  Innova’s products are exported to North America, South America, Southeast Asia, the Middle East, Western Europe, etc.

The legal representative of Innova is Ma who is the shareholder of the subject.  He can be reached at his mobile phone number 13570092773.  It is likely that most of the time, Ma is residing in Guangzhou, Guangdong Province, China.

In order to penetrate the international market further, Innova has taken part in fairs and exhibitions held in China.  For instance, it has taken part in the following exhibitions:-

The 9th International Exhibition on Rubber Technology 2009.11.11~13 Shanghai New Int’l Expo Centre, Pudong, Shanghai, China

CHINACOAT 2009 Shanghai November 18~20, 2009 Shanghai New Int’l Expo Centre Pudong, Shanghai, China

CHINAADHESIVE 2009 November 25~27, 2009 Guangzhou Jinhan Exhibition Centre

It is likely that Innova deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  Innova also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not active.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

 

COURT CASES:            None per our.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.73.47

Euro

1

Rs.65.38

 

 

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

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

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.