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Report Date : |
01.03.2013 |
IDENTIFICATION DETAILS
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Name : |
B.R.Y.
CHEMICALS CO. LTD. |
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Registered Office : |
Room 715, 7/F., Metro Centre II, 21 Lam Hing Street, Kowloon Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.11.2006 |
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Com. Reg. No.: |
37340847 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Chemical trader of all kinds of dyestuffs, pigments and intermediates, etc. |
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No. of Employees : |
08 |
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
|
Country Name |
Previous Rating (31.03.2012) |
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.
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Source : CIA |
B.R.Y. CHEMICALS CO. LTD.
Room 715, 7/F., Metro Centre II, 21 Lam Hing Street, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 2798 0955, 2798 0632 (6 lines)
FAX: 2799 9857
E-MAIL: brychem@bry-chem.com.hk
Managing Director: Ms. Chuk Wai Chun
Incorporated on: 8th November, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$2,000,000.00
Issued: HK$2,000,000.00
Business Category: Chemical trader.
Employees: 8.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 715, 7/F., Metro Centre II, 21 Lam Hing Street, Kowloon Bay, Kowloon, Hong Kong.
37340847
1086066
Managing Director: Ms. Chuk Wai Chun
Nominal Share Capital: HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
(As per registry
dated 08-11-2012)
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Name |
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No.
of shares |
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CHAN Man Wang |
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2,000,000 ======= |
(As per registry
dated 08-11-2012)
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Name (Nationality) |
Address |
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CHUK Wai Chun |
Room 715, 7/F., Metro Centre
II, 21 Lam Hing Street, Kowloon Bay, Kowloon, Hong Kong. |
(As per registry
dated 08-11-2012)
|
Name |
Address |
Co.
No. |
|
Tan Pround Secretary Ltd. |
Flat 202, 2/F.,
Block B, Chung Mei Centre, 15 Hing Yip Street, Kwun Tong, Kowloon,
Hong Kong. |
0852975 |
The subject was incorporated on 8th November, 2006 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: Chemical trader.
Lines: All kinds of dyestuffs, pigments and intermediates, etc.
Employees: 8.
Commodities Imported: India, Europe, other European countries, etc.
Markets: China, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having issued 2 million ordinary shares of HK$1.00 each, B.R.Y. Chemicals Co., Ltd. is wholly owned by Mr. Chan Man Wang who is a Hong Kong merchant. The director of the subject Ms. Chuk Wai Chun is a Hong Kong businesswoman.
The subject is an associated company of Hing Tat. It is a dyestuff and pigment trader. The owner of the subject has established a firm under the name of Hing Tat Trading Co. [Hing Tat] in Hong Kong since 1982. This firm is trading in dyestuffs, pigments and intermediates. Afterwards, in Mainland China, Hing Tat set up a laboratory in Dongguan City, Guangdong province for checking the quality of the finished products before shipment. The checking is to make sure the products are up to the standard samples. The laboratory was set up as Hing Tat and a firm in China have set up a joint venture which is engaged in producing dyestuffs and pigments.
In 1998, Hing Tat established B.R.Y. Chemicals Co, to handle dyestuffs and pigment business.
In 2001, Hing Tat built a 38.000 square-foot building as its laboratory and a research and new products development center in Dongguan of Guangdong Province. Hing Tat has modernized its laboratory and development center by installing advanced testing instruments such as Datacolor Spectrophotometer, Branch Light Luminosity, and Liquid Phase Chromatograph Meter, etc.
Now, the subject has a team of experienced senior engineers and technicians who are able to develop new products for its customers.
Now, the subject
is trading in the following chemicals:-
l Camphor;
l Chemical (food additives, food dye, essence, etc.);
l Dye (for soap, for leather, for paper, etc.);
l Dyestuff (dyes for textile, fabric, yarn, wool,
polyester, cotton) (teinture aux treillis, tissu, coton, laine, polyester);
l Pigment (organic or inorganic).
The business of the subject is active and steady as regular suppliers and customers have been maintained.
As the history of the subject is over six years in Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.77 |
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UK Pound |
1 |
Rs.81.57 |
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Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
---- |
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.