MIRA INFORM
REPORT
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Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
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Name : |
CHEMETALS
INTERNATIONAL LTD. |
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Registered Office : |
Unit A-C, 21/F., Golden Sun Centre, 59-67 Bonham Strand West |
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Country : |
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Date of Incorporation : |
30.06.1989 |
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Com. Reg. No.: |
12878592 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter; Transhipment Agent of all kinds of minor
metals, ferro alloys, chemicals, non-ferrous metals and pharmaceuticals such
as antimony, bismuth, cadmium, chromium (chrome), cobalt, magnesium, silicon,
lead, zinc. |
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 : |
Exists |
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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 |
CHEMETALS INTERNATIONAL LTD.
Unit A-C, 21/F., Golden Sun Centre, 59-67 Bonham Strand West, Hong Kong.
PHONE: 2815 8111 (8 lines)
FAX: 2541 8919
E-MAIL: chemetal@netvigator.com
Managing Director: Mr. Wong Fun Tsang, Stephen
Incorporated on: 30th June, 1989.
Organization: Private Limited Company.
Capital: Nominal: HK$1,600,000.00
Issued: HK$1,600,000.00
Business Category: Importer and Exporter; Transhipment Agent.
Annual Turnover: HK$180~200 million.
Employees: 8.
Main Dealing
Banker: Bank of
Banking Relation: Satisfactory.
Registered Head Office:-
Unit A-C, 21/F., Golden Sun Centre, 59-67 Bonham Strand West, Hong Kong.
Affiliated
Company:
12878592
256462
Managing Director: Mr. Wong Fun Tsang, Stephen
Nominal Share Capital: HK$1,600,000.00 (Divided into 1,600,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,600,000.00
(As per registry dated 30-06-2010)
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Name |
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No. of shares |
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WONG Fun Tsang |
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660,000 |
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Edward WONG |
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360,000 |
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YANG Bing |
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580,000 |
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–––––––– |
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Total: |
1,600,000 ======= |
(As per registry dated 30-06-2010)
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Name (Nationality) |
Address |
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Edward WONG |
Flat B, 11/F., |
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WONG Fun Tsang |
10D, Fu Lai Yuen, Chi Fu Fa
Yuen, |
Edward
WONG (As per registry dated 30-06-2010)
The subject was incorporated on 30th June, 1989 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 and Exporter; Transhipment Agent.
Lines: All kinds of minor metals, ferro alloys, chemicals, non-ferrous metals and
pharmaceuticals such as antimony, bismuth, cadmium, chromium (chrome), cobalt, magnesium, silicon, lead, zinc.
Floor Space: 110 sq.m.
Employees: 8.
Commodities Imported:-
Ferro alloys –
Chemicals –
Non-ferrous metals –
“FLYING WHEEL” Zinc
oxide –
“SOUTH CHINA” Paraffin
wax –
“SOUTH BOAT” Gum rosin –
Furfurr, ferro-alloys (FE-SI/SI-MN/SIC/SI-CA), silicon
metal, cobalt salts, barium salts, paracetamol, vitamins, arsenie
metal/trioxide, electro-manganese metal/dioxide, zinc ingot/flanges –
Markets: Asian countries,
Annual Turnover: HK$180~200 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
The Minor Metals Trade Association,
Nominal Share Capital: HK$1,600,000.00 (Divided into 1,600,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,600,000.00
Mortgage or Charge: (See attachment)
Profit & Loss: Operation is profitable.
Condition: Keeping in a satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Bankers:-
Bank of
Industrial & Commercial Bank of
Standing:
Having issued 1.6 million ordinary shares of HK$1.00 each, Chemicals International Ltd. is jointly owned by Mr. Wong Fun Tsang, holding 41.25% interests; Mr. Edward Wong, holding 22.50%; and Ms. Yang Bing, 36.25%. The former two were also the directors of the subject.
The
subject is a chemical/metal trader. It
is chiefly trading in non-ferrous metal (arsenic and antimony metal and
ferro-alloys), organic and inorganic chemicals (including plastic materials),
and pharmaceuticals. Most of the
subject’s commodities are sourced from
It
was reported that the subject has set up representative offices in Jishou,
The
history of the subject in
On the whole, consider the subject good for normal business engagements.
REMARKS:
Court case record:-
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Action
Date |
Case
No. |
Plaintiff |
Defendant |
Cause |
Amount |
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Apr. 1993 |
H2692 |
Ng Ying Man trading as Hui Ying Trading Co. |
Chemetals International Ltd. and others |
Injunction |
Not stated |
Property information of the company:-
1. Property Location: Unit E on 21/F., Golden Sun Centre, 59-67 Bonham Strand West,
Owner: Chemetals International 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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13-06-2007 |
- |
Industrial & Commercial Bank of |
Mortgage to secure general banking facilities |
2. Property Location: Office 2 on 7/F., 43-47 Bonham Strand West,
Owner: Chemetals International 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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29-03-2004 |
- |
Bank of |
Mortgage to secure general banking facilities |
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Date |
Particulars |
Amount |
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05-11-1997 |
Instrument: Charge on Cash Deposit Property: A first fixed charge on a deposit of variable amount covering outstanding obligations Mortgagee: MeesPierson N.V., Hong Kong
Branch. [Transferred to Fortis Bank |
To secure all obligations and liabilities |
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29-03-2004 |
Instrument: Mortgage Property: 1/36th part or share of and in The Remaining Portion of Section C of Inland Lot No. 1022, The Remaining Portion of Section A of Inland Lot No. 1023, The Remaining Portion of Subsection 1 of Section C of Inland Lot No. 1022 and The Remaining Portion of Section A of Inland Lot No. 1022 (Office 2 on 7/F. of 43-47 Bonham Strand West, Hong Kong.) Mortgagee: Bank of |
All moneys |
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13-06-2007 |
Instrument: Mortgage Property: 8/945th parts or shares of and in The Remaining Portion of Inland Lot No. 1324, The Remaining Portion of Section A of Inland Lot No. 1348, The Remaining Portion of Inland Lot No. 1348, Section B of Inland Lot No. 1325, The Remaining Portion of Inland Lot No. 1325, The Remaining Portion of Inland Lot No. 1326, The Remaining Portion of Inland Lot No. 1327 and The Remaining Portion of Section A of Inland Lot No. 1324 (Unit E on 21/F. of Golden Sun Centre, 59‑67 Bonham Strand West, Hong Kong.) Mortgagee: Industrial & Commercial Bank of |
To secure banking facilities |
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05-02-2009 |
Instrument: Rent Assignment Property: 8/945th parts or shares of and in The Remaining Portion of Inland Lot No. 1324, The Remaining Portion of Section A of Inland Lot No. 1348, The Remaining Portion of Inland Lot No. 1348, Section B of Inland Lot No. 1325, The Remaining Portion of Inland Lot No. 1325, The Remaining Portion of Inland Lot No. 1326, The Remaining Portion of Inland Lot No. 1327 and The Remaining Portion of Section A of Inland Lot No. 1324 (Unit E on 21/F. of Golden Sun Centre, 59‑67 Bonham Strand West, Hong Kong.) Mortgagee: Industrial & Commercial Bank of |
The obligations and the observance and performance |
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31-03-2010 |
Instrument: Deed of Charge Over Deposits Property: Charge by way of fixed charge and release to Wing Hang Bank Ltd. all Chemetals International Ltd.’s present and further rights in respect of the sums of money Mortgagee: Wing Hang Bank Ltd., |
To secure all sums of money and liabilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.89 |
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UK Pound |
1 |
Rs.90.88 |
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Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.