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Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
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Name : |
TUEBINGEN CHEMICALS CO. LTD. |
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Registered Office : |
Room 1711, 17/F., Cheung Fung Industrial Building, 23-39 Pak Tin Par Street, Tsuen Wan, New Territories |
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Country : |
Hong Kong. |
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Date of Incorporation : |
31.10.1986 |
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Com. Reg. No.: |
10617306 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Distributor and Wholesaler of all kinds of chemicals. |
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No. of Employees : |
10 |
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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 : |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market
economy, highly dependent on international trade and finance - the value of
goods and services trade, including the sizable share of re-exports, is about
four times GDP. Hong Kong's open economy left it exposed to the global economic
slowdown that began in 2008. Although increasing integration with China,
through trade, tourism, and financial links, helped it to make an initial
recovery more quickly than many observers anticipated, it again faces a possible
slowdown as exports to the Euro zone and US slump. The Hong Kong government is
promoting the Special Administrative Region (SAR) as the site for Chinese
renminbi (RMB) internationalization. Hong Kong residents are allowed to
establish RMB-denominated savings accounts; RMB-denominated corporate and
Chinese government bonds have been issued in Hong Kong; and RMB trade
settlement is allowed. The territory far exceeded the RMB conversion quota set
by Beijing for trade settlements in 2010 due to the growth of earnings from
exports to the mainland. RMB deposits grew to roughly 7.8% of total system
deposits in Hong Kong by the end of 2011, an increase of over 59% since the
beginning of the year. The government is pursuing efforts to introduce
additional use of RMB in Hong Kong financial markets and is seeking to expand
the RMB quota. The mainland has long been Hong Kong's largest trading partner,
accounting for about half of Hong Kong's exports by value. Hong Kong's natural
resources are limited, and food and raw materials must be imported. As a result
of China's easing of travel restrictions, the number of mainland tourists to
the territory has surged from 4.5 million in 2001 to 28 million in 2011,
outnumbering visitors from all other countries combined. Hong Kong has also
established itself as the premier stock market for Chinese firms seeking to
list abroad. In 2011 mainland Chinese companies constituted about 43% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the
Exchange's market capitalization. During the past decade, as Hong Kong's
manufacturing industry moved to the mainland, its service industry has grown
rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply
conditions caused Hong Kong property prices to rise rapidly in 2010 and
inflation to rise 5.3% in 2011. Lower and middle income segments of the
population are increasingly unable to afford adequate housing. Hong Kong
continues to link its currency closely to the US dollar, maintaining an arrangement
established in 1983.
Source : CIA
TUEBINGEN CHEMICALS
CO. LTD.
ADDRESS: Room 1711, 17/F., Cheung Fung Industrial
Building, 23-39 Pak Tin Par Street, Tsuen Wan, New Territories, Hong Kong.
PHONE: 2413 1698, 2413 1620,
2417 2865
FAX: 2415 2433
E-MAIL: info@chthk.com
Managing Director: Dr. Kwok Wang Fun
Incorporated on: 31st
October, 1986.
Organization: Private
Limited Company.
Capital: Nominal: HK$28,000,000.00
Issued: HK$28,000,000.00
Business Category: Chemical Merchant.
Employees:
10.
Main Dealing Banker: DZ Bank AG
Deutsche Zentral-Genossenschaftsbank, Frankfurt AM Main, Hong Kong Branch.
Banking Relation: Good.
Registered Head Office:-
Room 1711, 17/F., Cheung Fung Industrial Building, 23-39 Pak Tin Par
Street, Tsuen Wan, New Territories, Hong Kong.
Holding Company:-
RB Beitlich Industriebeteiligungen GmbH
Bismarckstrasse 102, D-72072 Tuebingen, Germany.
Ultimate Holding Company:-
CHT. R. Beitlich GmbH
Bismarckstrasse 102, D-72072 Tuebingen, Germany.
Associated/Affiliated Companies:-
Bezema AG, Switzerland.
Chemische Fabrik Tubingen (UK) Ltd., UK.
CHT (India) Pvt. Ltd., India.
CHT Australia Pty. Ltd., Australla.
CHT Belgium N.V., Belgium.
CHT Brasil Quimica Ltda, Brasil.
CHT Colombiana Ltda., Colombia.
CHT France S.A.R.L., France.
CHT Italia s.r.l., Italy.
CHT Pakistan (Pvt.) Ltd., Palostan.
CHT Peruana S.A., Peru.
CHT Takstil Kimya San Tic A.S., Turkey.
Dongguan Kaiwoo Chemical Factory Ltd., China.
Shanghai Tuebingen Chemical Factory Co. Ltd., China.
10617306
0177270
Managing Director: Dr. Kwok Wang
Fun
Nominal Share Capital: HK$28,000,000.00 (Divided into 140,000 shares of
HK$200.00 each)
Issued Share Capital: HK$28,000,000.00
(As per registry dated 31-10-2011)
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Name |
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No. of shares |
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RB Beitlich Industriebeteiligungen GmbH Bismarckstrasse 102, D-72072 Tuebingen, Germany. |
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91,000 |
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KWOK Wang Fun |
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49,000 |
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––––––– |
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Total: |
140,000 ====== |
(As per registry dated 31-10-2011)
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Name (Nationality) |
Address |
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KWOK Wang Fun |
38A, Broadview Villa, 20 Broadwood Road, Hong Kong. |
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Erich MECHEL |
Im Kugelbrettle 12, 73734 Esslingen, Germany. |
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Dr. Bernhard Josef HETTICH |
Im Brennofen 10, 72135 Dettenhausen, Germany. |
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KWOK Alan Yik Lun |
Flat A, 38/F., Broadview Villa, 20 Broadwood Road, happy Valley, Hong
Kong. |
(As per registry dated 31-10-2011)
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Name (Nationality) |
Address |
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LI Shun Ying |
38A, Broadview Villa, 20 Broadwood Road, Hong Kong. |
The subject was incorporated on 31st October, 1986 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.
Activities: Importer,
Distributor and Wholesaler.
Lines: All
kinds of chemicals.
Employees: 10.
Commodities Imported: Mainly imported from Germany.
Markets: Hong
Kong and other Asian countries.
Terms/Sales:
Various terms.
Terms/Buying: As
per contracted.
Nominal Share Capital: HK$28,000,000.00 (Divided into 140,000 shares
of HK$200.00 each)
Issued Share Capital: HK$28,000,000.00
Mortgage or Charge:-
Date of Mortgage: 17-03-1990
Amount: To secure all moneys in respect of
general banking facilities
Property: (1) 10,386/905,336th parts or shares
of and in The Remaining Portion of Tsuen Wan Town Lot No. 313 and
(2) 10,386/779,537th parts or shares of and in High Block of Cheung Fung
Industrial Building [the Building] [(1) Unit 10 & 11 on 17/F. of the
Building and (2) Car Park No. P23 on 1/F. of the Building]
Mortgagee: Deutsche Genossenschaftsbank,
Hong Kong Branch. [Renamed to DG
Bank Deutsche Genossenschaftsbank AG and further to DZ Bank AG Deutsche
Zentral-Genossenschaftsbank, Frankfurt AM Main]
Profit & Loss: Business is profitable.
Condition:
Keeping in an
active and satisfactory manner.
Facilities:
Making active
use of general banking facilities.
Payment: Regularly
met.
Commercial Morality: Good.
Banker: DZ Bank AG Deutsche
Zentral-Genossenschaftsbank, Frankfurt AM Main, Hong Kong Branch.
Standing:
Very Good.
Tuebingen Chemicals Co. Ltd. is a private limited company formerly
jointly owned by a German merchant Mr. Ulrich Hambrecht holding 65%, and a
local Chinese with Australian nationality Dr. Kwok Wang-Fun, holding 35%. On 13th December, 1999, Mr. Ulrich
Hambrecht transferred all his shares to CHT. R. Beitlich GmbH [CHT Group/CHT], a
Germany-based firm while Dr. Kwok is still holding 35% of the subject’s
stakes. In recent years, CHT has
transferred all its shares to its subsidiary RB Beitlich
Industrie-beteiligungen GmbH, also a Germany-based firm. After the transference, CHT has become the
ultimate holding company of the subject.
The subject is a chemical trader engaged in importing, re-exporting and
wholesaling of various kinds of chemicals, chemical raw materials which are
mainly imported from Germany. Its prime
markets are Hong Kong and other Asian countries. Most of its Hong Kong buyers have got
affiliated factories in China.
The subject’s German shareholder and other German directors are in
Germany responsible for acquiring chemicals for the subject. Business has been good and distribution
channels have been well developed.
Operation started in 1987 and current financial standing is rather
satisfactory, the subject is mainly controlled by Dr. Kwok and his spouse, Ms.
Li Shun Ying and their family member.
CHT Group started to produce chemical additives in Tübingen on Neckar on
18th October, 1953. In the very first
year of business, the company had 13 employees – and a turnover of around
€235,000.
CHT has been engaged in the development, production and sale of
additives for the textile processing industry for more than 50 years. Its products are chiefly for the entire
textile chain and provides additives for fibre production, pre-treatment,
dyeing processes and textile printing and also for finishing and coating. In addition, CHT develops intelligent system
solutions and products for the new business areas of garment finishing and
textile care.
CHT’s product range also includes textile dyes which are processed and
sold world-wide under the brand name “BEZEMA” by the CHT company of the
same name in Switzerland.
Besides, CHT also distributes silicone oil which is used in cleaning and
care agents and it “performance chemicals” are used in areas as diverse as
paper manufacturing, the construction materials industry, leather production
and in pet food.
Now, CHT and its affiliated companies and representatives are active in
more than 50 countries. Besides the
subject, main subsidiaries of CHT are in China, Italy, Pakistan, Brazil,
Turkey, India, Germany, Switzerland, Australia, Peru, the United Kingdom,
Belgium, France, Pakistan, Colombia, and North America.
The annual sales turnover of CHT is very significant.
The subject is fully supported by CHT.
On the whole, having a history of about 26 years, the subject is
considered good for normal business engagements.
Property information of
the company:-
Property Location: Unit 10 & 11 on 17/F. and Car Park
No. P23 on 1/F.,
Cheung Fung Industrial Building, 23-39 Pak Tin Par Street, Tsuen Wan,
New Territories, Hong Kong.
Owner: Tuebingen Chemicals Co.
Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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17-03-1990 |
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Deutsche Genossenschaftsbank, Hong Kong Branch. [Renamed to DG Bank Deutsche
Genossenschaftsbank AG and further to DZ Bank AG Deutsche Zentral-Genossenschaftsbank,
Frankfurt AM Main] |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.07 |
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1 |
Rs.84.95 |
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Euro |
1 |
Rs.68.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.