MIRA INFORM REPORT
|
Report Date : |
07.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
LONZA NANJING LTD. |
|
|
|
|
Registered Office : |
No. 201, Daweidong Road, Nanjing Chemical Industry Park,
Jiangsu Province, 210047 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
28.02.2007 |
|
|
|
|
Com. Reg. No.: |
320100400038212 |
|
|
|
|
Legal Form : |
Wholly Foreign-Owned Enterprise |
|
|
|
|
Line of Business : |
manufacturing & selling life science raw materials |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 2,000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
Usually Correct |
|
|
|
|
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) |
|
China |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
lonza nanjing lTD.
NO. 201, DAWEIDONG
ROAD, NANJING CHEMICAL INDUSTRY PARK,
JIANGSU PROVINCE,
210047 PR CHINA
TEL: 86 (0)
25-58368388 FAX: 86 (0) 25- 58368399
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 28, 2007
REGISTRATION NO. :
320100400038212
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED ENTERPRISE
STAFF STRENGTH : N/A
REGISTERED CAPITAL : USD 14,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER : CNY 1,566,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 65,838,000 (AS OF DEC. 31,
2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 2,000 (PERIODICAL REVIEW)
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIR
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.3898 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
SC was registered as a
wholly foreign-owned enterprise at local Administration for Industry &
Commerce (AIC - The official body of issuing and renewing business license) on February
28. 2007.
Company Status: Wholly foreign-owned
enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered business scope includes manufacturing disinfectant
products, selling self-made products and providing related service;
manufacturing surfactant, auxiliaries fine chemical products and formula
products, selling self- made products and providing related service; science
research & development of new products & technology, research result
transfer, and providing related technical service.
SC is mainly engaged
in manufacturing & selling life science raw materials.
Mr.
Lukas Utiger is legal representative and chairman of SC at present.
SC’s management
refused to release the number of its employees.
SC is
currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Nanjing. SC’s employee
refused to release the detailed information of the premise.
http://www.lonza.com The website belongs to Lonza, and it includes the
introduction about SC and its related companies. The design is professional and
the content is well organized. At present it is in English version.
Email: contact.cn@lonza.com
No significant events or changes were found during our checks with local
AIC.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Lonza (China) Investment Co.,
Ltd. (Switzerland) 100
Add: No. 39 Jinhui Road, Haizhu
District, Guangzhou
Tel: 20 8433 8998
Fax: 20 8433 1998
Website: http://www.lonza.com.cn/
l
Legal representative and
chairman:
Mr. Lukas Utiger, with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as chairman and legal representative.
Also working in Lonza Liyang Chemical Co., Ltd. and Lonza Guangzhou Ltd. as legal representative.
l
General manager:
Lim Khye Sing is currently responsible for the daily management of SC.
Working Experience(s):
At present Working in SC as general manager
l
Directors:
Jeanne Adele Thoma
Johnny Kwok-On Po
l
Supervisor:
Stefan Borgas
SC is mainly
engaged in manufacturing & selling life science raw materials.
SC’s products mainly include: disinfectant products,
antiseptic, fine chemical products, etc.
SC sources its materials 90% from domestic market and 10%
from the overseas market. SC sells 10% of its products to overseas market and 90% in domestic
market.
The buying terms of SC include Check, L/C, T/T and Credit of
30-60 days. The payment terms of SC include Check, L/C, T/T and Credit of 30-60
days.
Note: SC refused to release its major
clients and suppliers.
Lonza Liyang Chemical Co., Ltd.
Lonza Guangzhou Ltd.
Lonza Guangzhou Nansha Ltd.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3 weighed factors: Trade payment experience
(through current enquiry with SC's suppliers), our delinquent payment and our
debt collection record concerning SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent payment record: None in our database.
Debt collection record: No overdue amount owed by SC was placed to us for
collection within the last 6 years.
The bank information is not found at local AIC.
SC’s management declined to release whether it has account in Bank of
China.
Balance Sheet
Unit: CNY’000
|
|
As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
|
Cash & bank |
37,519 |
5,892 |
|
Inventory |
3,088 |
13,891 |
|
Bills receivable |
0 |
0 |
|
Accounts
receivable |
87 |
647 |
|
Other Accounts
receivable |
261 |
286 |
|
Advances to
suppliers |
2,765 |
4,786 |
|
Other current
assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current assets |
43,720 |
25,502 |
|
Fixed assets net
value |
1,608 |
73,374 |
|
Projects under construction |
73,692 |
60,761 |
|
Long-term
investment |
0 |
0 |
|
Intangible and
other assets |
16,214 |
15,418 |
|
|
------------------ |
------------------ |
|
Total assets |
135,234 |
175,055 |
|
|
============= |
============= |
|
Short loans |
0 |
45,566 |
|
Accounts payable |
7,944 |
22,021 |
|
Advance from
customers |
0 |
0 |
|
Accrued payroll |
268 |
888 |
|
Other Accounts
payable |
151 |
566 |
|
Notes payable |
0 |
0 |
|
Taxes payable |
-2,536 |
-5,878 |
|
Withdraw the expenses
in advance |
2,405 |
1,739 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
8,232 |
64,902 |
|
|
Long term
liabilities |
45,555 |
44,315 |
|
Other
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
53,787 |
109,217 |
|
Equities |
81,447 |
65,838 |
|
|
------------------ |
------------------ |
|
135,234 |
175,055 |
|
|
|
============= |
============= |
Income Statement
Unit: CNY’000
|
|
As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
|
Turnover |
183 |
1,566 |
|
Cost of goods sold |
1,425 |
7,479 |
|
Profit
from other business |
221 |
5 |
|
Sales expense |
115 |
48 |
|
Management expense |
14,647 |
9,886 |
|
Finance expense |
638 |
-64 |
|
Subsidy income |
0 |
100 |
|
Non-operating
income |
9 |
30 |
|
Non-operating expense |
0 |
18 |
|
Profit before tax |
-16,412 |
-15,666 |
|
Less: profit tax |
60 |
-57 |
|
Profits |
-16,472 |
-15,609 |
Important Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
5.31 |
0.39 |
|
*Quick ratio |
4.94 |
0.18 |
|
*Liabilities
to assets |
0.40 |
0.62 |
|
*Net profit
margin (%) |
-9,001.09 |
-996.74 |
|
*Return on
total assets (%) |
-12.18 |
-8.92 |
|
*Inventory
/Turnover ×365 |
6,159 days |
3,238 days |
|
*Accounts
receivable/Turnover ×365 |
174 days |
151 days |
|
*Turnover/Total
assets |
0.001 |
0.01 |
|
* Cost of
goods sold/Turnover |
7.79 |
4.78 |
PROFITABILITY:
POOR
l
The turnover of SC appears fair in 2009, and it
increased in 2010.
l
SC’s net profit margin remains in a POOR level in both
years.
l
SC’s return on total assets remains in a fair level
in both years.
l
SC’s cost of goods sold is too HIGH, comparing with
its turnover in both years.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a normal
level in 2009 but poor in 2010
l
SC’s quick ratio is maintained in a normal level in
2009 but poor in 2010.
l
The inventory of SC appears average in 2009, and
fairly large in 2010.
l
The accounts receivable of SC appears average in
both years.
l
SC’s short-term loan appears large in 2010.
l
SC’s turnover is in a POOR level, comparing with
the size of its total assets in both years.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average in 2010.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair.
SC is considered medium-sized in its line with fair
financial conditions. The large amount of
inventory and short loans could be a threat to SC’s financial condition. A
credit line at the above amount appears to be beyond SC’s capacities, while a
credit line up to USD 2,000 is recommended upon a
periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.13 |
|
UK Pound |
1 |
Rs.74.18 |
|
Euro |
1 |
Rs.64.88 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.