MIRA INFORM REPORT

Report Date :

08.02.2012

IDENTIFICATION DETAILS

Name :	LAMBERTI ASIA PACIFIC LTD.
Formerly Known As :	Sampson Ltd
Registered Office :	Suite 5801 & 5804-5806, 58/F., Central Plaza, 18 Harbour Road, Wanchai
Country :	Hong Kong
Date of Incorporation :	23.06.1993
Com. Reg. No.:	17167015
Legal Form :	Private Limited Company.
Line of Business :	Importer, Exporter and Wholesaler of all kinds of industrial chemicals
No. of Employees :	20

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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 – September 30^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Hong Kong	a2	a2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

LAMBERTI ASIA PACIFIC LTD.

Company ADDRESS

Room 1305-1308, 13/F., APEC Plaza, 49 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong.

PHONE: 2861 3662

FAX: 2529 3948

E-MAIL: lap@lamberti-hk.com

MANAGEMENT

Managing Director: Mr. Giorgio Pagnoncelli

SUMMARY

Incorporated on: 23rd June, 1993.

Organization: Private Limited Company.

Capital: Nominal: HK$1,000,000.00

Issued: HK$1,000,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 20. (Hong Kong)

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Office:-

Suite 5801 & 5804-5806, 58/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.

Head Office:-

Room 1305-1308, 13/F., APEC Plaza, 49 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong.

Beijing Representative Office:-

Room 0625, Yuan Chenxin Office Building, No. 12 Yumin Road, Dewai Madian, Chaoyang District, 100029 Beijing, China.

[Tel/Fax: 86-10-8225 0820]

Holding Company:-

Lamint S.A.R.L., Luxembourg.

Ultimate Holding Company:-

Lamberti S.p.A., Italy.

Associated/Affiliated Companies:-

Lamberti Group of Companies

· Cesalpinia Chemicals S.p.A., Italy.

· JOB S.p.A., Italy.

· Lagor S.p.A., Italy.

· Lamberti Aditivos Ceramicos S.A., Spain.

· Lamberti Asia Pacific Ltd., Korea.

· Lamberti Brasil Produtos Químicos Ltda., Brazil.

· Lamberti Chemical Specialties (Shanghai) Co. Ltd., China.

· Lamberti Deutschland GmbH, Germany.

· Lamberti France S.A., France.

· Lamberti Hydrocolloids Private Ltd., India.

· Lamberti Iberia S.A.U., Spain.

· Lamberti Kimya, Turkey.

· Lamberti Polska, Poland.

· Lamberti Quimica S.A., Spain.

· Lamberti Rus, Russia.

· Lamberti Speciality Chemicals (Pty) Ltd., South Africa.

· Lamberti Synthesis USA Inc., USA.

· Lamberti USA Inc., USA.

· Lambra Produtos Quimicos Auxiliares, Brazil.

· P.T. Lamberti Indonesia, Indonesia.

· Quimica Lamberti de Mexico S.A. de C.V., Mexico.

· Sashim S.p.A., Italy.

· Savicell S.p.A., Italy.

· Unichem S.p.A., Italy.

etc.

BUSINESS REGISTRATION NUMBER

17167015

COMPANY FILE NUMBER

0429624

MANAGEMENT

Managing Director: Mr. Giorgio Pagnoncelli

CAPITAL

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

SHAREHOLDERS

(As per registry dated 23-06-2011)

Name		No. of shares
Lamint S.A.R.L. 19-21 Boulevard du Prince Henri, L1724 Luxembourg (LUX), Luxembourg.		999,999
Clyde Nominees Ltd., Hong Kong.		1
		––––––––
	Total:	1,000,000 =======

DIRECTORS

(As per registry dated 23-06-2011)

Name (Nationality)	Address
Mario GAGLIARDI	Via Diaz 16, Rescaldina, Italy.
Giorgio PAGNONCELLI	Flat A, 22/F., Tower 3, Hillsborough Court, 18 Old Peak Road, Hong Kong.
Roberto PORRO	Via Villa No. 20, I-20057 Vedano A1, Lambro (M1), Italy.

SECRETARY

(As per registry dated 23-06-2011)

Name	Address	Co. No.
Clyde Services Ltd.	18/F., CITIC Tower, 1 Tim Mei Avenue, Central, Hong Kong.	0182196

HISTORY

The subject was incorporated on 23rd June, 1993 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Sampson Ltd., name changed to the present style on 12th August, 1993.

The subject changed its registered address to the present one in June, 2011.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of industrial chemicals.

Employees: 20. (Hong Kong)

40. (China)

Commodities Imported: Europe, Asia, etc.

Markets: Asia, Europe, North America, etc.

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

Terms/Buying: L/C, D/P, etc.

MEMBERSHIP

The Italian Chamber of Commerce in Hong Kong and Macao, Hong Kong.

FINANCIAL INFORMATION

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

Profit or Loss: Making a small profit every year.

Condition: Keeping in an and satisfactory manner.

Facilities: Making 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: Normal.

GENERAL

Lamberti Asia Pacific Ltd. is a wholly-owned subsidiary of Lamint S.A.R.L., which is a Luxembourg-based firm. The subject’s ultimate holding company is Lamberti S.p.A [Lamberti], an Italy-based firm.

The subject is the trading branch of Lamberti. It features offices, a state of the art laboratory and a warehouse in Hong Kong.

At the beginning, the subject was mainly active in textile chemicals and its business territories just covered the Greater China and South Korea only. Later, the subject has expanded both of its business territories and business areas. Two representative offices in China were added in 1996, one in Beijing and one in Shanghai. In 2003, two more representative offices were opened in Jakarta and Seoul.

The subject is engaged in distributing chemicals for textile, leather, construction, paints and coatings, ceramics, paper, cosmetics and agrochemicals. Its main products are natural polymers (HP guar and CMC), synthetic polymers (acrylic, PES and polyurethanes), pigments, surfactants and UV catalysts. Its network of direct sales representative and agents covers China, Taiwan, South Korea, Japan, Thailand, Vietnam, Malaysia, Singapore, Indonesia and the Philippines.

Currently, the subject is trading in the following commodities and offering clients with the following services:-

· Textile (spinning, sizing, pigments, dyes, printing auxiliaries and thickeners, preparation dyeing and finishing auxiliaries)

· Leather (dyes, wet-end and finishing auxiliaries)

· Ceramics (auxiliaries for tile sand sanitary-ware production)

· Paper (chemicals for coated and uncoated paper)

· Paint and inks (defoamers, guar derivatives, dispersants)

· Photochemicals (UV catalysts)

· Building (guar derivatives and CMC)

· PVC additives (PVC stabilizers)

· Cosmetics (surfactants and guar derivatives)

· Polymerization (surfactants and stabilizers for the production of PVC)

The subject is carrying the following products and brand names:-

Brand Name	Brand Product/Service	Brand Remarks
Lamberti (Brand Owner)	Industrial Chemicals	For paper and cosmetics
	Dyeing, Tanning and Colouring Materials	Pigment for textile and paint

Lamberti, founded in 1911, is an Italian chemical company leading a group of companies that have achieved a turnover of approximately US$300 million in 2001.

The Lamberti Group is present in Italy and abroad with subsidiaries and production facilities. The main market outlets for its specialty chemicals are textiles, leather, oil, photocuring, coatings, paper, ceramics, cosmetics, detergents, agro, and PVC. The Lamberti’s products includes: carboxymethylcellulose, guar derivatives, photocuring compounds, polyurethanes, acrylic polymers, dyestuffs, pigments, enzyme derivatives, surfactants, esters and oleochemical derivatives, etc.

The Group’s 1,040 employees are engaged in Production, R&D, Sales and Services. Its headquarters are in Gallarate, Italy, about 40 km North of Milan. The main production facilities, the technological centre and logistics offices are situated in Albizzate, Italy.

Lamberti has subsidiaries all over the world in France, Spain, Turkey, USA, Mexico, Brazil, South Africa and China, etc. Lamberti obtained, the International Quality Certification (En ISO 9001) in 1992. Lamberti has adopted SAP/R3, an advanced operating system for the management of the companies’ processes and procedures.

Mr. Giorgio Pagnoncelli is the Managing Director of the subject and Managing Director of Asia Pacific of the Group.

The subject is fully supported by Lamberti. History in Hong Kong is over eighteen years and seven months.

On the whole, consider the subject good for normal business engagements.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.92
UK Pound	1	Rs.77.31
Euro	1	Rs.64.12

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.