MIRA
INFORM REPORT
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Report Date : |
21.10.2011 |
IDENTIFICATION DETAILS
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Name : |
BAYER MATERIALSCIENCE LTD. |
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Registered Office : |
77/F., The Center, 99 Queen’s Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.02.1998 |
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Com. Reg. No.: |
21927744 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of all kinds of plastic raw materials. |
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 : |
Good |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 and address
BAYER MATERIALSCIENCE LTD.
ADDRESS: 77/F., The Center, 99
Queen’s Road Central, Hong Kong.
PHONE: 2895 5888, 2158 2467
FAX: 3526 4505, 3526 4730
E-MAIL: dirk.lang@bayermaterialscience.com
MANAGEMENT
Managing Director: Mr. Wolfgang
Werner Miebach
SUMMARY
Incorporated on: 11th
February, 1998.
Organization: Private
Limited Company.
Capital: Nominal: HK$100,000.00
Issued: HK$100,000.00
Business Category: Plastic Material Trader.
Group Net Sales:- (Year
ended 31-12-2010)
€35,088 million (Whole Group)
€10,154 million (Bayer
MaterialScience Subgroup)
Group Employees:- (As
at 31-12-2010)
111,400. (Whole Group)
14,400. (Bayer MaterialScience
Subgroup)
Employees:
200.
Main Dealing Banker: Deutsche Bank AG, Hong Kong Branch.
Banking Relation: Good.
ADDRESS
Registered Head Office:-
77/F., The Center, 99 Queen’s Road Central, Hong Kong.
Holding Company:-
Bayer Far East Service Co. Ltd., Hong Kong.
Intermediate Holding Company:-
Bayer MaterialScience AG, Germany.
Ultimate Holding Company:-
Bayer AG, Germany.
Affiliated Companies:-
Bayer Group of Companies
1. BCrSV GmbH, Germany.
2. BHCV GmbH, Germany.
Agreva GmbH, Germany.
AgrEvo Middle East (Cyprus) Ltd., Cyprus.
AgrEvo Verwaltungsgesellschaft mbH, Germany.
Ausbildungsinitiative Rheinland GmbH, Germany.
Aventis CropScience Malawi Ltd., Malawi.
Bayer (Beijing) Sheet Co. Ltd., China.
Bayer (China) Ltd., China.
Bayer (Malaysia) Sdn. Bhd., Malaysia.
Bayer (Sichuan) Animal Health Co. Ltd., China.
Bayer (South East Asia) Pte. Ltd., Singapore.
Bayer 04 Leverkusen Sportförderung gGmbH, Germany.
Bayer 04 Marketing GmbH, Germany.
Bayer 04 Mobilien GmbH, Germany.
Bayer Algerie S.P.A., Algeria.
Bayer Australia Ltd., Australia.
Bayer BioScience Pvt. Ltd., India.
Bayer Co. (Malaysia) Sdn. Bhd., Malaysia.
Bayer Coatings Systems Shanghai Co. Ltd., China.
Bayer CropScience (China) Co. Ltd., China.
Bayer CropScience (OHQ) (Malaysia) Sdn. Bhd., Malaysia.
Bayer CropScience (Pvt) Ltd., Pakistan.
Bayer CropScience (Thailand) Co. Ltd., Thailand.
Bayer CropScience Co. Ltd., Taiwan.
Bayer CropScience Holdings Pty. Ltd., Australia.
Bayer CropScience Inc., Philippines.
Bayer CropScience K.K., Japan.
Bayer CropScience Ltd., Bangladesh.
Bayer CropScience Ltd., India.
Bayer CropScience Ltd., South Korea.
Bayer CropScience Pty. Ltd., Australia.
Bayer d.o.o. Sarajevo, Bosnia-Herzegovina.
Bayer Distribuidora de Produtos Quimicos e Farmaceuticos Ltda., Brazil.
Bayer Guangyi Panel Co. Ltd., China.
Bayer Healthcare Co. Ltd., China.
Bayer HealthCare Ltd., Hong Kong.
Bayer Healthcare S.r. l., Italy.
Bayer Holding Ltd., Japan.
Bayer Innovation Ventures GmbH, Germany.
Bayer International Services GmbH, Germany.
Bayer Jinling Polyurethane Co. Ltd., China.
Bayer Korea Ltd., South Korea.
Bayer MaterialScience (China) Co. Ltd., China.
Bayer MaterialScience Ltd., Japan.
Bayer MaterialScience Pty. Ltd., Australia.
Bayer MaterialScience Pvt. Ltd., India.
Bayer MaterialScience Trading (Shanghai) Co. Ltd., China.
Bayer Middle East FZE, UAE.
Bayer New Zealand Ltd., New Zealand.
Bayer OÜ, Estonia.
Bayer Pakistan (Pvt) Ltd., Pakistan.
Bayer Pharmaceuticals Pvt. Ltd., India.
Bayer Philippines Inc., Philippines.
Bayer Polymers (Shanghai) Co. Ltd., China.
Bayer Polyurethanes (Shanghai) Co. Ltd., China.
Bayer Polyurethanes Taiwan Ltd., Taiwan.
Bayer Schering Pharma Moçambique Lda., Mozambique.
Bayer Shanghai Pigments Co. Ltd., China.
Bayer Sheet Korea Ltd., South Korea.
Bayer Sichuan Animal Health Co. Ltd., China.
Bayer Taiwan Co. Ltd., Taiwan.
Bayer Technology & Engineering (Shanghai) Co. Ltd., China.
Bayer Technology Services GmbH, Germany.
Bayer Thai Co. Ltd., Thailand.
Bayer TPU (Shenzhen) Co. Ltd., China.
Bayer UK Ltd., UK.
Bayer Uretech Ltd., Taiwan.
Bayer Verwaltungsgesellschaft für Anlagevermögen mbH, Germany.
Bayer Vietnam Ltd., Vietnam.
Bayer Wuxi Leather Chemical Co. Ltd., China.
Bayer Yakuhin Ltd., Japan.
Bayer Zhongxi Agrochemcial Co. Ltd., China.
Bayer Zhongxi Consumer Care Co. Ltd., China.
Bayer Zimbabwe (Pvt) Ltd., Zimbabwe.
Bayer-Handelsgesellschaft mbH, Germany.
Bayer-Unterstützungskasse GmbH, Germany.
Bayhealth Comercializacao de Produtos Farmaceuticos Unipessoal Lda.,
Portugal.
Bayhealth S.L., Spain.
BayInvest GmbH, Germany.
BayOne Canada Inc., Canada.
BCS (Pvt) Ltd., Pakistan.
BCS Romania S.r.l., Romania.
Berlex Canada Inc., Canada.
Berlex Especialidades Farmaceuticas Lda., Portugal.
Berlifarma Lda., Portugal.
Berlimed-Especialidades Farmaceuticas Lda., Portugal.
Berlipharm B.V., Netherlands.
Bilag Industries Pvt. Ltd., India.
Centro Estrategico Canada Latinoamerica S.A. de C.V., Mexico.
Centrofarma-Industria e Comercio de Prod. Farmaceuticos Lda., Portugal.
Chemdyes Pakistan (Pvt) Ltd., Pakistan.
CIS (U.K.) Ltd., UK.
Comercial Interamericana S.A., Guatemala.
Currenta Geschäftsführungs-GmbH, Germany.
Delinting & Seed Treating Company, USA.
Ehrfeld Mikrotechnik BTS GmbH, Germany.
Epurex Films Geschäftsführungs-GmbH, Germany.
Farmaco Ltda., Brazil.
Fünfte Bayer VV GmbH, Germany.
Genus Grundstücks- und Vermietungsgesellschaft mbH & Co. KG,
Germany.
Guangzhou Bayer MaterialScience Co. Ltd., China.
H & R Cosfra Ltd., China.
HTV Gesellschaft für Hochtemperaturverbrennung mbH, Germany.
Icon Genetics Inc., USA.
Imaxeon Pty. Ltd., Australia.
Intendis K.K., Japan.
Job@ctive GmbH, Germany.
Junta Comercializadora de Productos de Latinoamerica S.A. de C.V.,
Mexico.
Kosinus Grundstücks-Verwaltungs-Gesellschaft mbH, Germany.
Laboratorio Berlimed S.A., Chile.
Lusal Producao Quimico Farmaceutica Luso-Alema Lda., Portugal.
Lusalfarma-Especialidades Farmaceuticas Lda., Portugal.
Medipharm (Pvt) Ltd., Pakistan.
Medrad Asia Pte. Ltd., Singapore.
Medrad Medical Equipment Trading Company, China.
Myanmar Aventis CropScience Ltd., Myanmar.
Nihon Medrad K.K., Japan.
Nunhems Beijing Seed Co. Ltd., China.
Nunhems India Pvt. Ltd., India.
P.T. Bayer Indonesia, Indonesia.
P.T. Bayer MaterialScience Indonesia, Indonesia.
Quimicas Unidas S.A., Cuba.
Rhein Chemie (Qingdao) Ltd., China.
Schering (Malaysia) Sdn. Bhd., Malaysia.
Schering Industrial Products Holdings, UK.
Schering Peruana S.A., Peru.
Schering Pty. Ltd., Australia.
Schering Romania S.r.l., Romania.
Schering Verwaltungsgesellschaft mbH, Germany.
Sechste Bayer VV GmbH, Germany.
Shanghai Fortune Long March - Trace Medical Science Co. Ltd., China.
SIA Bayer, Latvia.
Sumika Bayer Urethane Co. Ltd., Japan.
The SDI Divestiture Corporation, USA.
U I M Agrochemicals (Aust) Pty. Ltd., Australia.
Viterion TeleHealthcare LLC, USA.
ZAO Rhone-Poulenc AO, Russia.
etc.
BUSINESS REGISTRATION NUMBER
21927744
COMPANY FILE NUMBER
0636023
MANAGEMENT
Managing Director: Mr. Wolfgang
Werner Miebach
CAPITAL
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100,000.00
SHAREHOLDER
(As per registry dated 11-02-2011)
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Name |
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No. of shares |
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Bayer Far East Service Co. Ltd., Hong Kong. |
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100,000 ====== |
DIRECTORS
(As per registry dated 01-09-2011)
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Name (Nationality) |
Address |
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Johannes Matthias DIETSCH |
Unit 2902, Block 8, Lane 600, Middle Yin Cheng Road, Pudong, Shanghai 201203,
China. |
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Michael KOENIG |
W30, Tomson Golf Villa, 1 Long Dong Da Dao, Pudong, Shanghai 201203,
China. |
SECRETARY
(As per registry dated 11-02-2011)
|
Name |
Address |
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LEE Yuk Kwan |
Flat 1115, 11/F., Sheung Yat House, Upper Ngau Tau Kok Estate, Kwun
Tong, Kowloon, Hong Kong. |
HISTORY
The subject was incorporated on 11th February, 1998 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of King Lion
Corporation Ltd., name changed to Sybron Chemicals (Hong Kong) Ltd. on 31st
July, 1998; changed to Bayer Polymers Co. Ltd. on 26th September, 2001; and
further to the present style on 1st September, 2004.
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.
Group Employees:- (As
at 31-12-2010)
111,400. (Whole Group)
14,400. (Bayer MaterialScience
Subgroup)
Employees: 200.
Commodities Imported: Germany, other European countries, India, etc.
Markets: Worldwide.
Group Net Sales:-
|
Period |
Whole Group |
Bayer
MaterialScience Subgroup |
|
Year ended 31-12-2005 |
€24,701million |
- |
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Year ended 31-12-2006 |
€28,956 million |
- |
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Year ended 31-12-2007 |
€32,385 million |
€10,435 million |
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Year ended 31-12-2008 |
€32,918 million |
€
9,738 million |
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Year ended 31-12-2009 |
€31,168 million |
€
7,520 million |
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Year ended 31-12-2010 |
€35,088 million |
€10,154 million |
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
D/P, etc.
MEMBERSHIP
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKB0043]
FINANCIAL INFORMATION
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100,000.00
Group Net Income: €1,597 million (Year
ended 31-12-2005)
€1,683
million (Year ended 31-12-2006)
€4,711 million (Year ended 31-12-2007)
€1,719
million (Year ended 31-12-2008)
€1,359
million (Year ended 31-12-2009)
€1,301
million (Year ended 31-12-2010)
Profit or Loss: Business is profitable.
Condition:
Keeping in an
active and satisfactory manner.
Facilities:
Making active
use of general banking facilities.
Payment:
Met trade
commitments on time.
Commercial Morality: Good.
Banker:
Deutsche
Bank AG, Hong Kong Branch.
Standing:
Good.
GENERAL
Bayer MaterialScience Ltd. is a wholly-owned subsidiary of Bayer Far
East Service Co. Ltd. [Bayer FE], a Hong Kong-registered firm located at the
subject’s operating address. In turn,
Bayer FE is a subsidiary of Bayer MaterialScience AG [Bayer MaterialScience],
Germany. The ultimate holding company of
the subject is Bayer AG [Bayer], a world famous Germany-based firm which is the
holding company of the Bayer Group.
The subject is trading in the products of the Group.
The Group is principally engaged in supplying plastics, basic and fine
chemicals flavours, fragrances and aromatic chemicals, polyurethanes, synthetic
rubbers and rubber chemicals, coating and colorants, specialty products,
fibres, pharmaceuticals, diagnostics, consumer care, crop protection and
animal-health products to the Chinese market and importing finished and
semi-finished raw materials and other intermediates and native products from
the People’s Republic of China.
Bayer is one of the largest diversified international health care and chemicals
groups. Founded in 1863 and
headquartered at Leverkusen, Germany, Bayer today has subsidiaries or agencies
in almost every country in the world.
Bayer (China) Ltd., a wholly-owned holding company, was registered in
Beijing in September 1994 and is responsible for Bayer’s investments in China.
Bayer has eleven joint ventures and one wholly-owned enterprise in
China: Bayer Healthcare Co. Ltd., Rhein Chemie (Qingdao) Ltd., Bayer Wuxi
Leather Chemical Co. Ltd., Bayer Shanghai Pigments Co. Ltd., Bayer Sichuan
Animal Health Co. Ltd., H & R Cosfra Ltd., Bayer Guangyi Panel Co. Ltd.,
Bayer Jinling Polyurethane Co. Ltd., Bayer Zhongxi Agrochemcial Co. Ltd., Bayer
Zhongxi Consumer Care Co. Ltd., and Shanghai Fortune Long March - Trace Medical
Science Co. Ltd.
Bayer achieved its targets for the Group in 2010. Sales rose by 12.6% – or by 8.0% on a
currency and portfolio-adjusted basis – to a record €35.1 billion. EBITDA
before
special items improved by 9.7% to €7.1 billion.
These increases were attributable to the strong recovery in the Material
Science business and to positive currency effects. However, Health Care did slightly less well
than expected, while CropScience was well below its expectations, particularly
in the first half of the year. The Group
has adopted a package of selected measures to strengthen Health Care and
CropScience for the long term and enhance its innovative capability. At the same time it significantly raised our
research and development spending in 2010 to €3.1 billion (2009: €2.7 billion) to support its R&D pipeline, which continues to develop
positively.
Net income, however, receded by 4.3% to €1,301 million (2009: €1,359 million), greatly hampered in 2010 by
special charges of €1.7 billion, mainly for impairments and litigations.
Currently, the subject is trading in the following products and offering
clients with the following services:-
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Product/Service |
Product/Service Remarks |
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Pharmaceutical and Medicine |
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Veterinary Medicine |
From Germany (Importer) From Germany (Exporter) |
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Pharmaceutical Preparation |
Include veterinary from Germany (Importer) Include veterinary from Germany (Exporter) |
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Chemicals (including Plastic Materials) |
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Plastic Materials (including Resins and Sheet) |
Include fluorescent plastic from Western Europe (Importer) Include fluorescent plastic from Western Europe (Exporter) |
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Textile Chemicals |
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Dyeing, Tanning and Colouring Materials |
Dyestuff from Germany (Importer) Dyestuff from Germany (Exporter) |
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Industrial Chemicals |
From Germany (Importer) From Germany (Exporter) |
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Household Chemicals |
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Insecticide |
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Agro-Chemicals |
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Pesticide For Agricultural Use |
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The subject carries the following brands:-
|
Brand Name |
Brand Product/Service |
Brand Remarks |
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Bayer (Brand Owner) |
Pharmaceutical Preparation |
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Veterinary Medicine |
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Agro-Chemicals |
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Pesticide For Agricultural Use |
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Insecticide |
Insecticides |
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Industrial Chemicals |
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Dyeing, Tanning and Colouring Materials |
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Plastic Materials (including Resins and Sheet) |
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Haarmann And Reimer (Official Agent) |
Industrial Chemicals |
SPICE |
Bayer MaterialScience is an independent, globally operating company within
the Bayer Group. The name Bayer
MaterialScience stands for the materials that the company develops and
produces. It also stands for the
know-how and expertise of its employees all over the world.
Bayer MaterialScience’s famous products are coating raw materials
bearing the brandnames of “Bayhydrol®” and “Bayhydur®”. High-grade “Makrolon®”, “Makrofol®”
and “Apec®” polycarbonates,
together with the “Bayblend®” and “Makroblend®” polycarbonate
blends, rank among Bayer MaterialScience’s best-sellers. These products are indispensable when it
comes to the production of automotive components, data carriers such as CDs and
DVDs, and a large number of other everyday items. The key product brands of Polyurethanes are “Desmodur®”
and “Desmophen®”. Resins under
the brand names “Desmopan®” and “Texin®” are used in technical
films and textile coatings, belts, hoses, cables and profiles, in the
automotive sector (interior, exterior, and chassis), in a multitude of
applications in sports and leisure (e.g. ski and sport shoes and sport
equipment), etc.
With 2010 sales of €10.2 billion, Bayer MaterialScience is among the
world’s largest polymer companies.
Business activities are focused on the manufacture of high-tech polymer
materials and the development of innovative solutions for products used in many
areas of daily life. The main segments served are the automotive, electrical
and electronics, construction and the sports and leisure industries.
At the end of 2010, Bayer MaterialScience had 30 production sites and
employed approximately 14,400 people around the globe.
Bayer MaterialScience is currently making major investments in the boom
region of Asia. The integrated site in
Shanghai is being expanded by Bayer into the group’s largest and most
technically advanced production site in the region. The total investment planned for this site up
until 2012 amounts to €2.1 billion, €0.7 billion of which are scheduled for the
period from 2009 until 2012.
The subject is fully supported by Bayer MaterialScience and ultimately
by Bayer.
On the whole, in view of the parentage of the subject, consider it good
for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.71 |
|
|
1 |
Rs.78.08 |
|
Euro |
1 |
Rs.68.05 |
RATING EXPLANATIONS
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.