MIRA INFORM REPORT

 

 

Report Date :

06.12.2013

 

IDENTIFICATION DETAILS

 

Name :

ARCHROMA [THAILAND] COMPANY LIMITED

 

 

Registered Office :

6th  Floor,  Vibulthani  Tower  1, 3195/11  Rama  4  Road,  Klongton, Klongtoey,  Bangkok  10110

 

 

Country :

Thailand

 

 

Date of Incorporation :

2013

 

 

Com. Reg. No.:

0105556081777

 

 

Legal Form :

Private  Limited  Company

 

 

Line of Business :

Manufacturer  and  Distributor of Specialty  Chemicals

 

 

No. of Employees :

120

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Thailand

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

THAILAND - ECONOMIC OVERVIEW

 

With a well-developed infrastructure, a free-enterprise economy, generally pro-investment policies, and strong export industries, Thailand achieved steady growth due largely to industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. Thailand is trying to maintain growth by encouraging domestic consumption and public investment to offset weak exports in 2012. Unemployment, at less than 1% of the labor force, stands as one of the lowest levels in the world, which puts upward pressure on wages in some industries. Thailand also attracts nearly 2.5 million migrant workers from neighboring countries. The Thai government is implementing a nation-wide 300 baht ($10) per day minimum wage policy and deploying new tax reforms designed to lower rates on middle-income earners. The Thai economy has weathered internal and external economic shocks in recent years. The global economic crisis severely cut Thailand's exports, with most sectors experiencing double-digit drops. In 2009, the economy contracted 2.3%. However, in 2010, Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports rebounded. In late 2011 growth was interrupted by historic flooding in the industrial areas in Bangkok and its five surrounding provinces, crippling the manufacturing sector. Industry recovered from the second quarter of 2012 onward with GDP growth at 5.5% in 2012. The government has approved flood mitigation projects worth $11.7 billion, which were started in 2012, to prevent similar economic damage, and an additional $75 billion for infrastructure over the next seven years with a plan to start in 2013.

 

Source : CIA

 

Company name

 

ARCHROMA [THAILAND] COMPANY LIMITED

 

 

SUMMARY

 

BUSINESS  ADDRESS                          :           6th  FLOOR,  VIBULTHANI  TOWER  1,

                                                                        3195/11  RAMA  4  ROAD,  KLONGTON,

                                                                        KLONGTOEY,  BANGKOK  10110,  THAILAND

TELEPHONE                                         :           [66]  2661-5360

FAX                                                      :           [66]  2661-4040

E-MAIL  ADDRESS                                :           -

REGISTRATION  ADDRESS                   :           SAME  AS  BUSINESS  ADDRESS

 

ESTABLISHED                                     :           2013

REGISTRATION  NO.                            :           0105556081777

TAX  ID  NO.                                          :           3035839621

CAPITAL REGISTERED                         :           BHT.   3,000,000

CAPITAL PAID-UP                                 :           BHT.      750,000

SHAREHOLDER’S  PROPORTION         :           FOREIGN    :   100%

FISCAL YEAR CLOSING DATE              :           -            

LEGAL  STATUS                                   :           PRIVATE  LIMITED  COMPANY

EXECUTIVE                                          :           MR. BARRY  BAHRAM  SIADAR,  AMERICAN

                                                                        MANAGING  DIRECTOR           

 

NO.  OF  STAFF                                    :           120

LINES  OF  BUSINESS                          :           SPECIALTY  CHEMICALS

                                                                        MANUFACTURER  AND  DISTRIBUTOR

                                                                         

 

CORPORATE  PROFILE

 

OPERATING  TREND                             :           EARLY  STAGE                       

             

 

 

 

 

HISTORY

 

The  subject  was  established  on  May  21,  2013  as  a  private  limited  company under  the  registered  name  ARCHROMA [THAILAND]   COMPANY  LIMITED,  by   American  and  Luxembourg  groups,  with  the  business  objective  to  manufacture  and distribute  wide  range  of  specialty  chemicals  to  domestic  market.  It  currently  employs  approximately  120  staff.  

 

The  subject’s  registered  address  is 6th  Floor, Vibulthani  Tower 1,  3195/11  Rama  4 Road,  Klongton,  Klongtoey,  Bangkok  10110,  and  this  is  the  subject’s  current  operation  address.  

 

 

THE  BOARD  OF  DIRECTOR

 

     Name

 

Nationality

Age

 

 

 

 

Mr. Barry  Bahram  Siadar

 

American

59

Mr. Aaron  Charles  Davenport

 

American

43

Mr. Suriya  Wittayathamsopon

 

Thai

49

 

 

AUTHORIZED  PERSON

 

Anyone  of  the  above  directors  can  sign  on  behalf  of  the  subject  with  company’s  affixed.

 

 

MANAGEMENT

 

Mr. Barry  Bahram  Siadar  is  the  Managing  Director.

He  is  American  nationality  with  the  age  of  59  years  old.  

 

 

BUSINESS  OPERATIONS

 

The  subject  is  engaged  in  manufacturing  and  distributing  wide  range  of  specialty  chemicals  for  papers,  textiles  and  other  industries.

 

 

PURCHASE

 

Raw   materials  are  purchased  from  suppliers  both  in  domestic  and  overseas,  mainly  in  U.S.A.,  India,  Republic  of  China,  Luxembourg  and  Switzerland.

 

MAJOR  SUPPLIERS

 

Archroma  Textiles  Sarl.                        :  Luxembourg

Cariant  International  Ltd.                       :  Switzerland

 

 

SALES 

 

100%  of  the  products  is  sold  locally  to  wholesalers,  manufacturers   and  end-users.

 

 

SUBSIDIARY  AND  AFFILIATED  COMPANY

 

The  subject  is  not  found  to  have  any  subsidiary  or  affiliated  company  here  in  Thailand.

 

 

LITIGATION

 

Bankruptcy  and  Receivership

 

There  are  no  litigation  on  bankruptcy  and  receivership  cases  filed  against  the  subject  found  at  Legal  Execution  Department  for  the  past  five  years.

 

Others

 

There  are  no  legal  suits  filed  against   the  subject  according  for  the  past  two  years.

 

 

CREDIT  

 

Sales  are  by  cash  or  on  the  credits  term  of  30-60  days.

Local  bills  are  paid  by  cash  or  on  the  credits  term  of  30-60  days.

Imports  are  by  L/C  at  sight  or  T/T.

 

 

BANKING

 

The  banker’s  name  was  not  disclosed.

 

 

EMPLOYMENT

 

The  subject  currently  employs  approximately  120  staff.  

LOCATION  DETAILS

 

The  premise  is  rented for  administrative  office  at  the  heading  address.  Premise  is  located  in  commercial  area.

 

Factory  and  warehouse  are  located  at  851  Moo  4,  Bangpoo  Industrial  Estate,  Soi  11,  Sukhumvit  Road,  T. Praeksa,  A. Muang,  Samutprakarn  10280.

 

 

COMMENT

 

The  subject  has  started  its  business in May  2013,  meanwhile  its  business  performance  is  also  active  and  no  adversely   result  at  the  moment.          

 

 

FINANCIAL  INFORMATION

 

The  capital  was  registered  at  Bht.  3,000,000  divided  into  30,000  shares  of  Bht. 100  each  with  25%  paid-up.

 

 

THE  SHAREHOLDERS  LISTED  WERE 

 

 [as  at  April  19,  2013]  at  Bht.  750,000  of  capitalization

 

       NAME

HOLDING

%

 

 

 

Archroma  Thai  Holdings  LLC

Nationality:  American

Address     :  1209  Orange  Street,  Wilmington, 

                     New  Castle,  Delaware,  U.S.A.

15,300

51.00

Archroma  Textiles  Sarl.

Nationality:  Luxembourg

Address     :  19  Ru de  Bitbourg,   L-1273  Luxembourg

14,697

49.00

Mr. Veerawee  Phenchart

Nationality:  Thai

Address     :  273  Soi  Sukhumvit  49,  Klongtonnua,

                     Wattana,  Bangkok

        1

-

Mr. Chay  Lertwittayachaikul

Nationality:  Thai

Address     :  220  Somdejchaopraya  Road,  Klongsan,

                     Bangkok

        1

-

Ms. Kavita  Pradermkulchai

Nationality:  Thai

Address     :  75/6  Moo  1,  Seekan,  Donmuang,

                     Bangkok 

        1

-

 

Total  Shareholders  :   5

 

Share  Structure  [as  at  April  19,  2013]

 

Nationality

Shareholders

No. of  Share

% Shares

 

 

 

 

Thai

3

3

-

Foreign

2

29,997

100.00

 

Total

 

5

 

30,000

 

100.00

 

Note:

 

Due  to  the  subject  has  been  established  in  2013,  therefore  financial  statement  has  not yet  available.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.69

UK Pound

1

Rs.101.08

Euro

1

Rs.84.07

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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.