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Report Date : |
06.04.2014 |
IDENTIFICATION DETAILS
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Name : |
QUIMTIA
LTD. |
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Registered Office : |
Unit 807, 8/F., Tai Yau Building, 181 Johnston Road,
Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.07.2011 |
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Com. Reg. No.: |
58752619 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Food, Pharmaceuticals, Feedstuffs & Chemicals. |
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No. of Employees |
04 |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Business Under Development |
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Payment Behaviour : |
No Complaints |
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Litigation : |
--- |
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 december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 has no tariffs
on imported goods, and it levies excise duties on only four commodities,
whether imported or produced locally: hard alcohol, tobacco, hydrocarbon oil,
and methyl alcohol. There are no quotas or dumping laws. 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, its continued reliance on foreign trade and investment
leaves it vulnerable to renewed global financial market volatility or a
slowdown in the global economy. 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 12% of total system deposits in Hong
Kong by the end of 2013. 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 total trade 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 34.9 million
in 2012, 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 2012 mainland Chinese companies constituted about 46.6% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4%
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. Credit expansion and tight housing supply conditions have caused Hong
Kong property prices to rise rapidly; consumer prices increased by more than 4%
in 2013. 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. In
2013, Hong Kong and China signed new agreements under the Closer Economic
Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong
and the mainland. The new measures, effective from January 2014, cover services
and trade facilitation, and will improve access to the mainland's service
sector for Hong Kong-based companies.
|
Source
: CIA |
QUIMTIA LTD.
Unit 807, 8/F., Tai Yau Building, 181 Johnston Road, Wanchai Hong Kong.
PHONE: 852-2573 3680
FAX: 852-2573 3860
E-MAIL: domenec.masferrer@quimtia.com
Managing Director: Mr. Domenec Masferrer Benito
Incorporated on: 22nd July, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$1,163,308.00
Issued: HK$1,163,308.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 4.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit 807, 8/F., Tai Yau Building, 181 Johnston Road, Wanchai Hong Kong.
Holding Company:-
Broadview Capital Management SA, Switzerland.
Associated
Companies:-
Inmobal Nutrer S.A., Argentina.
Nuvital Nutrientes S.A., Brazil.
Quimtia S.A., Peru.
Quimtia S.A.S., Columbia.
58752619
1640251
Managing Director: Mr. Domenec Masferrer Benito
Nominal Share Capital: HK$1,163,308.00 (Divided into 1,163,308 shares of HK$1.00 each)
Issued Share Capital: HK$1,163,308.00
(As per registry
dated 22-07-2013)
|
Name |
|
No.
of shares |
|
Broadview Capital
Management SA c/o Capital Holdings du, Sud SA |
|
1,163,308 ======= |
(As per registry
dated 22-07-2013)
|
Name (Nationality) |
Address |
|
Domenec MASFERRER BENITO |
19/47 Sukhumvit Road, Soi 16,
Klongtoey, Bangkok 10110, Thailand. |
(As per registry
dated 22-07-2013)
|
Name |
Address |
Co.
No. |
|
Prowise Services Ltd. |
Unit 2204, 22/F., Lippo Centre, Tower 2,
89 Queensway, Hong Kong. |
0681120 |
The subject was incorporated on 22nd July, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit 8, 31/F., Lippo Centre, Tower 1, 89 Queensway, Hong Kong, moved to Unit 911, 9/F., Tai Yau Building, 181 Johnston Road, Wanchai, Hong Kong with effect from 27th October, 2011, and further moved to Unit 807, 8/F. of the same building in October 2013.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Food, Pharmaceuticals, Feedstuffs & Chemicals.
Employees: 4.
Commodities Imported: China, other Asian countries, etc.
Markets: South America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$1,163,308.00 (Divided into 1,163,308 shares of HK$1.00 each)
Issued Share Capital: HK$1,163,308.00
Increases of
Nominal Capital:-
|
From |
HK$200,000.00 |
to |
HK$1,163,308.00 |
in |
July 2012 |
Alternation of
Issued Capital:-
|
Initially |
paid up |
HK$ 200,000.00 |
|
July 2012 |
paid up |
HK$ 963,308.00 |
|
|
|
|
|
Total: |
paid up |
HK$1,163,308.00 ============= |
Profit or Loss: Kept a balance account in 2013.
Condition: Business is improving.
Facilities: Making fairly 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: Small.
Quimtia Ltd. is a wholly-owned subsidiary of Broadview Capital Management SA. which is a Switzerland - based firm. The director of the subject Mr. Domenec Masferrer Benito whose registered address is in Bangkok, Thailand. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject is a chemical trader.
Incorporated in July 2011, the subject is a member of the Quimtia Group [Quimtia/Group]. It is also a logistic and shipping centre in Asia of the Group.
The following firms are the main
associates of the Group:-
· Inmobal Nutrer S.A., Argentina;
· Nuvital Nutrientes S.A., Brazil;
· Quimtia S.A., Peru; &
· Quimtia S.A.S., Columbia.
Quimtia is trading
in the following businesses:-
1. The Group develops, produces and supplies products for the food and pharmaceutical industries. It provides a complete solution to the market through efficient resources management, backed by a solid experience in the industry for more than 30 years;
2. The Group develops, manufactures and markets nutrition and animal health products for poultry, livestock and aquaculture industries and for pets. Main markets are several Latin‑American countries;
3. Quimtia is a leading company in manufacture, marketing and distribution of chemical products and industrial supplies. It wants to be a leader in productions and distribution of industrial chemicals in South America.;
4. The Group is specialized in developing, manufacturing and marketing natural pigments derived from Marigold flowers and from the fruit of Paprika. It is the only group dedicated to pigments worldwide that have achieved a strong vertical integration, ensuring the entire production chain control, because it has its own varieties of seeds and fields in different areas of Peru, which harvests directly supply its industrial plants with cutting-edge technology; &
5. Quimtia ventures in the market with production of copper and zinc sulphates.
The subject is engaged in the same lines of business as Quimtia.
Now, the Group has associated offices in Argentina, Brazil, Colombia, Peru, etc. Its feed plant, food and pharmaceutical plant are also in Peru.
The subjects business in Hong Kong is still under development. In early March 2014, the subject recruited staff members.
The history in Hong Kong is just over two years.
On the whole, since the history of the subject is short, consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
UK Pound |
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
|
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 |
|
|
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 |
-- |
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This score serves as a reference to assess
SCs 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.