MIRA INFORM REPORT
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Report Date : |
12.10.2011 |
IDENTIFICATION DETAILS
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Name : |
EASTSUN CHEMICAL CO. LTD. |
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Registered Office : |
c/o LFDI Secretaries Ltd., Suite 2006, 20/F., 340 Queen’s Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.10.1997 |
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Com. Reg. No.: |
21333505 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Agrochemicals, veterinary drug, 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 : |
Usually Correct |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
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
EASTSUN CHEMICAL CO.
LTD.
Company ADDRESS
c/o LFDI Secretaries Ltd.
Suite 2006, 20/F., 340 Queen’s Road Central, Hong Kong.
PHONE: 2519 4341
FAX: 2511 6711
MANAGEMENT
Managing Director: Mr. Chan Hui
SUMMARY
Incorporated on: 24th October, 1997.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Chemical Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
c/o LFDI Secretaries Ltd.
Suite 2006, 20/F., 340 Queen’s Road Central, Hong Kong.
Associated
Companies:-
Jiangyin Eastsun Chemical Co. Ltd., China.
Shanghai Eastsun Chemical Co. Ltd.
Room 2407, No. 1, Lane 600, Tianshan Rd., Shanghai 200051, China.
[Tel: 86-21-6145 7380, 6145 7381, 6145 7385, 6145 7386
Fax: 86-21-6145 7383
E-mail: henry@eastsunchem.com ]
BUSINESS REGISTRATION NUMBER
21333505
COMPANY FILE NUMBER
0627924
MANAGEMENT
Managing Director: Mr. Chan Hui
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
SHAREHOLDERS
(As per registry
dated 24-10-2010)
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Name |
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No. of shares |
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LIN Yi |
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51 |
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CHEN Hui |
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49 |
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––– |
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Total: |
100 === |
DIRECTORS
(As per registry
dated 24-10-2010)
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Name (Nationality) |
Address |
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CHEN Hui |
Room 301, 33 Hai Tang Yuan, Shanghai Wan Ke City Garden, 3333 Qi Xin Road, Shanghai, China. |
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LIN Yi |
Room 301, 33 Hai Tang Yuan, Shanghai Wan Ke City Garden, 3333 Qi Xin Road, Shanghai, China. |
SECRETARY
(As per registry
dated 24-10-2010)
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Name |
Address |
Co.
No. |
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LFDI Secretaries Ltd. |
Suite 2006, 20/F., 340 Queen’s Road Central, Hong Kong. |
0461529 |
HISTORY
The subject was incorporated on 24th October, 1997 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: Agrochemicals, veterinary drug, etc.
Employees: Nil.
Commodities Imported: Germany, India, other European countries, etc.
Markets: China, other Asian countries, Europe, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
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 100 ordinary shares of HK$1.00 each, Eastsun Chemical Co. Ltd. is jointly owned by Mr. Lin Yi, holding 51% interests; and Mr. Chen Hui, holding 49%. Lin and Chen are also directors of the subject. Both of whom are China ID holders and do 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 Suite 2006, 20/F., 340 Queen’s Road Central, Hong Kong known as LFDI Secretaries Ltd. which is handling its correspondences and documents. LFDI Secretaries Ltd is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
The subject has had a main associated company in Shanghai known as Shanghai Eastsun Chemical Co. Ltd. [Shanghai Eastsun]. Shanghai Eastsun is a company involves in international trading business, contracted formulation business, researching new product and sourcing for overseas customers in markets such as agrochemicals, veterinary drug, public health treatment products and some intermediate of agrochemicals and pharmaceuticals. It began its business as a trader in 1997, dealing in agrochemicals from other manufactures. Now it has its own contracted formulation plant to develop new combined formulation or some formulations with high-technologies. Shanghai Eastsun has got ISO 9001:2000 certification.
Currently Shanghai Eastsun is trading in the following chemicals:-
· Insecticide
· Fungicide
· Herbicide
· Plant Growth Regulator
· Rodenticide
· Products for Public Health
The subject has had another associated company known as Jiangyin Eastsun Chemical Co. Ltd. which is in Jiangyin City, Jiangsu Province, China.
It is likely that Shanghai Eastsun deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. Shanghai Eastsun 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 very 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 secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.03 |
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UK Pound |
1 |
Rs.76.60 |
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Euro |
1 |
Rs.66.80 |
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.