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Report Date : |
03.04.2012 |
IDENTIFICATION DETAILS
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Name : |
LEVACHEM CO. LTD. |
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Registered Office : |
c/o Sinomix & Co., Certified Public Accountants Room 1505B, 15/F., Fortress Tower, 250 King’s Road, North Point |
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Country : |
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Date of Incorporation : |
02.08.2002 |
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Com. Reg. No.: |
32858518 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of fine chemicals, etc. |
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No. of Employees : |
Nil. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Operating Office In |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
LEVACHEM CO.
LTD.
Address: c/o Sinomix
& Co., Certified Public Accountants
Room 1505B,
15/F., Fortress Tower,
250 King’s
Road, North Point,
Hong Kong.
(Formerly located at:
c/o Hong Kong Secretarial Ltd.
Room 1020-1021, Ocean Centre, Harbour City,
5 Canton Road, Tsimshatsui, Kowloon, Hong Kong.)
PHONE: 2174 8030
FAX: 8344 5661
Managing Director: Mr. Lu Min Yan
Incorporated on: 2nd
August, 2002.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
c/o Sinomix & Co., Certified Public Accountants
Room 1505B, 15/F., Fortress Tower, 250 King’s Road, North Point,
Hong Kong.
Affiliated Company:-
Nanjing Levachem Co. Ltd.
2112, Suning Universal Mansion, 188 Guangzhou Road, Nanjing City 210024,
Jiangsu Province, China.
[Tel: 86-25-8324 7442~3, 8324
7445~7
Fax: 86-25-8324 7441
E-mail: sales@levachem.com]
32858518
0808808
Managing Director: Mr. Lu Min Yan
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 02-08-2011)
|
Name |
|
No. of shares |
|
LU Min Yan |
|
2,500 |
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CAI Jun |
|
2,500 |
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LUO Kai Yu |
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2,500 |
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LIU Tong Qiu |
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2,500 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 02-08-2011)
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Name (Nationality) |
Address |
|
LU Min Yan |
Room 2607, No. 2, Xiyi Xincun, Baixia, Nanjing, Jiangsu, China. |
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CAI Jun |
Room 2204, No. 4, Beimenqiao Road, Xuanwu, Nanjing, Jiangsu, China. |
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LUO Kai Yu |
Room 1506, Unit 3, No. 218, Hanzhong Road, Gulou, Nanjing, Jiangsu,
China. |
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LIU Tong Qiu |
Room 1406, Unit 3, No. 5, Guangzhou Road, Gulou, Nanjing, Jiangsu,
China. |
(As per registry dated 02-08-2011)
|
Name |
Address |
Co. No. |
|
SBS Nominee Ltd. |
Unit 842, 1/F., Block D, Mai Tak Industrial Building, 221 Wai Yip
Street, Kwun Tong, Kowloon, Hong Kong. |
0809165 |
The subject was incorporated on 2nd August, 2002 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Room 1020-1021,
10/F., Ocean Centre, Harbour City, 5 Canton Road, Tsimshatsui, Kowloon, Hong
Kong where is the operating address of a secretarial firm known as Hong Kong
Secretarial Ltd. The subject’s
registered address moved to the present address in August 2010 as it has
changed its secretarial firm since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of fine
chemicals, etc.
Employees: Nil.
Materials/Commodities: Imports raw materials from European countries,
some Asian countries and finished products from China.
Markets: China, other Asian countries,
Europe, North America, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
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:
Unknown.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Levachem Co. Ltd.
is equally owned by Mr. Lu Min Yan, Mr. Cai Jun, Mr. Luo Kai Yu and
Mr. Liu Tong Qiu. Being China ID
Card holders, all the shareholders are also directors of the subject. Currently, they are residing in Nanjing City,
Jiangsu Province, China.
The subject does not have its own operating office. Its registered office is in an accountant
firm located at Room 1505B, 15/F., Fortress Tower, 250 King’s Road, North
Point, Hong Kong known as Sinomix & Co., Certified Public Accountants which
is handling its correspondences and documents.
The subject changed its registered address in August 2010. The subject has no employees in Hong Kong.
To our knowledge, the subject has had a main affiliated company Nanjing
Levachem Co. Ltd. [Nanjing Levachem] which is in Nanjing City, Jiangsu
Province, China. The subject and Nanjing
Levachem form the Levachem Group.
Levachem Group was established in 2001.
It has had four cooperating manufacturers that are engaged in producing
fine chemicals, diversified pharmaceuticals, agrochemical ingredients and other
high technology products.
The Group is an international fine chemicals holding company and one of
China’s leading providers of integrated fine chemical services including its
core sourcing business, research and development, custom manufacturing
business, as well as other value-added customer services.
The Group has three major businesses: Pharmaceuticals, Dyestuffs and
Other Fine Chemicals. It is trading in
the following main products:-
·
APIs and Veterinary Medicines
·
Intermediates for APIs
·
Agrochemical and Intermediates
·
Fine Chemicals
·
Food/Feed Additives
·
Intermediates for Dyestuff and Pigments
·
Dyestuffs
The following firms are its partners:-
·
Xin Yuan Fine Chemical Co. Ltd. — Produce Dyestuff
/ Pigment / Agrochemical Intermediates and Special Chemicals, etc.
·
Tian Ma Fine Chemical Co. Ltd. — Produce
Pharmaceutical Ingredients, such as N-octyl D-Glucmine, etc.
·
Xing Nong Chemical Co. Ltd. — Produce Agrochemical
and Intermediates, etc.
·
Lixin Chemical Co. Ltd. — Produce Dyestuff
Intermediates, such as Bromamine Acid, 1-amino Anthraquinone, etc.
Nanjing Levachem is marketing the above-mentioned firms products. Most of the chemicals are exported to Europe,
the Middle East, Africa, Oceania, Asian countries, North America, Central and
South America, etc. About 90% of the
products are exported. It was reported
that the annual sales turnover of Nanjing Levachem is about RMB760 to 800
million. The customers of Nanjing
Levachem are in about fifteen countries of the world.
Nanjing Levachem is also operated and owned by the four shareholders of
the subject. It has opened an account at
The Hongkong & Shanghai Banking Corp. Ltd., Shanghai Branch, China.
It is likely that Nanjing Levachem deals with foreign parties under the
name of the subject and let foreign firms correspond with the subject’s
registered address in Hong Kong. Nanjing
Levachem 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. History in Hong Kong is less than ten
years.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.15 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.68.34 |
RATING EXPLANATIONS
|
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 |
|
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 |
|
<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.