|
Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
OXYDE CHEMICALS CHINA LTD. |
|
|
|
|
Registered Office : |
c/o Minimax
Corporate & Management Services Ltd. Room 1507, 15/F., Emperor Group Centre, 288 Hennessy Road, Wanchai |
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|
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Country : |
Hong Kong |
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|
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Date of Incorporation : |
13.06.2007 |
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|
|
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Com. Reg. No.: |
38221498 |
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|
|
|
Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of all kinds of chemicals and plastics |
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|
|
|
No. of Employees |
1 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
|
Without financial |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small company |
|
Payment Behaviour : |
No complaints |
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Hong Kong |
A2 |
A2 |
|
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 |
OXYDE
CHEMICALS CHINA LTD.
ADDRESS: c/o Minimax Corporate &
Management Services Ltd.
Room 1507, 15/F.,
Emperor Group Centre, 288 Hennessy Road, Wanchai, Hong Kong.
PHONE: 852-2121 8785, 2122 9970
FAX: 852-2574 2060, 2122 9971
E-MAIL: fredwong@oxyde.com.hk
MANAGEMENT:
Managing
Director: Mr. Jose Fernando Rodriguez
Incorporated on: 13th June, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1,000.00
Business Category: Chemical Trader.
Employee: 1.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
OXYDE
CHEMICALS CHINA LTD.
ADDRESS:
Registered
Office:-
c/o Minimax
Corporate & Management Services Ltd.
Room 1507, 15/F.,
Emperor Group Centre, 288 Hennessy Road, Wanchai, Hong Kong.
Holding
Company:-
Oxyde International
Ltd., British Virgin Islands.
Ultimate
Holding Company:-
Oxyde Chemicals
Inc., USA.
Associated/Affiliated
Companies:-
C. Ivan & Co. Ltd., Taiwan.
Excel Trade, India.
OCB Trading Ltda., Brazil.
OCI Indonesia, Indonesia.
OCV Trading Venezuela C.A., Venezuela.
Oxyde Belgium BVBA, Belgium.
Oxyde Chemicals (Guangdong), China.
Oxyde Chemicals (India), India.
Oxyde Chemicals (Turkey), Turkey.
Oxyde Chemicals Far East Ltd., China.
Oxyde Chemicals Korea Corporation, South Korea.
Oxyde Quimica S.A. de C.V., Mexico.
Petroxy Polymers, India.
BUSINESS
REGISTRATION NUMBER: 38221498
COMPANY FILE
NUMBER: 1141183
MANAGEMENT:
Managing
Director: Mr. Jose Fernando Rodriguez
Contact
Person: Mr. Fred Wong
CAPITAL:
Nominal Share Capital:
HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,000.00
(As per registry dated 13-06-2013)
|
Name |
|
No.
of shares |
|
Oxyde International Ltd. Arawak Chambers, Sea Meadow House, P.O. Box 173,
Blackburne Highway, Road Town, Tortola, British Virgin Islands. |
|
1,000 ==== |
(As per registry dated 13-06-2013)
|
Name (Nationality) |
Address |
|
Jose Fernando
RODRIGUEZ |
Unit 7E, Two Waterway Court, The
Woodlands, Texas 77380, USA. |
(As per registry dated 13-06-2013)
|
Name |
Address |
Co.
No. |
|
Minimax
Corporate & Management Services Ltd. |
Room 1507, 15/F., Emperor Group Centre, 288 Hennessy Road, Wanchai,
Hong Kong. |
0460445 |
The
subject was incorporated on 13th June, 2007 as a private limited liability
company under the Hong Kong Companies Ordinance.
The
subject changed its corporate secretary in May 2013.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of chemicals and plastics.
Employee: 1.
Commodities Imported: Europe, India, other Asian countries.
Markets: Asia, Europe, North America, Central & South America.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business is not very active in Hong Kong.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
DBS Bank (Hong Kong) Ltd., Hong Kong.
ING Bank NV, Hong Kong Branch
Standing: Small.
Oxyde
Chemicals China Ltd. is a wholly-owned subsidiary of Oxyde International Ltd.
which is a BVI-registered firm. Its
ultimate holding company Oxyde Chemicals Inc. [Oxyde Chemicals] is a US-based
and registered firm.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Room
1507, 15/F., Emperor Group Centre, 288 Hennessy Road, Wanchai, Hong Kong known
as Minimax Corporate & Management Services Ltd. [Minimax] which is handling
its correspondences and documents.
Minimax is also the corporate secretary of the subject.
The
subject has one employee in Hong Kong.
The contact person of the subject Mr. Fred Wong is also the single
employee. Fred Wong can be reached at
the phone number and fax number 852-2122 9970 and 852‑2122 9971
respectively. Fred Wong is a
Hongkongnese.
Oxyde
Chemicals was founded in 1924 trading in metals and minerals in Amsterdam,
Holland. In the early 1950s, it became
an international marketer of chemicals and plastics. From the Netherlands Oxyde Chemicals has
expanded by setting up several offices in Europe and later in the United States
by setting up an office in Houston under the name of Oxyde Chemicals, Inc. Then this company has expanded into Latin
America and Asia.
Today,
its privately held company works and trades in more than 60 countries, serving
its partners from regional centres.
Oxyde
Chemicals trades in those products that range from fibre intermediates like MEG
to plastic resins such as PVC. Today,
Oxyde Chemicals has had offices in countries around the globe; from the
Americas to Europe, from Asia to Africa.
In addition to trading, Oxyde Chemicals maintains a distribution network
for select products in the United States, Europe, Mexico and Venezuela.
Oxyde
Chemicals is registered with the Houston Minority Supplier Development Council
as a “Minority Business Enterprise” as defined by the National Minority
Supplier Development Council Inc. under NAICS Code 326122.
As
a vital international trading partner, Oxyde Chemicals offers customers with a
broad range of petrochemical and plastic raw materials. It is trading in the following products:-
·
Chemicals — Glycols, Solvents, Monomers, Aromatics,
Fibre Intermediates, Organic Intermediates, Inorganic Intermediates, solvents,
etc.
·
Oxo‑Alcohols Plasticizers, Organic
Intermediates, Inorganics, etc.
·
Plastics — Vinyls, Polypropylene, Polyethylenel,
Polystyrene, Engineering Plastics, etc.
Oxyde
Chemicals has set up office and associated companies in China, South Korea,
Indonesia, Brazil, Mexico, Venezuela, etc.
It also has had office in India, Turkey, Guangzhou of China, etc.
The
one in India is known as Oxyde Chemicals India which is in Pune, Maharashtra,
India. This company is trading in
Chlorine, caustic soda prills, trade and distribute of inorganic intermediates,
acrylic butadiene styrene, caustic soda liquid, copolymer, etc.
The
subject is fully supported by Oxyde Chemicals.
History in Hong Kong is over six years.
On
the whole, consider the subject good for normal business engagements in small
credit amounts.
|
Date |
Particulars |
Amount |
|
11-12-2007 |
Instrument: Assignment
of DC Proceeds re export bills restricted to other banks for negotiation/payment Property: By way of assignment or agreement to
assign in each case as beneficial owner.
All monies in any currency representing proceeds payable or to be paid
to the Customer under the Documentary Credits, all the Customer’s right, title
and interest in the said Documentary Credits and the benefit of all powers
and remedies for enforcing the Documentary Credits Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
All loans or other advances made or to be made by the Bank to the
Customer against documents submitted under a Documentary Credit, all monies
and liabilities in any currency owing by the Customer to the Bank at any
time, whether separately or jointly, actually or contingently, present or
future, interest on all loans and advances and such monies and all expenses
of the Bank in perfecting or enforcing the Assignment |
|
11-12-2007 |
Instrument: Security
Over Deposits Property: The deposit with chargee in the amount of US$150,000.00
and all monies under Deposit No. 808‑326482-274 whatever currency it
may subsequently be denominated in, any renewal of such deposit and the
interest thereon together with any further monies in any deposit account with
the chargee at any of its offices Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Amount secured – (i) all monies in any currency owing by the Company
to the chargee at any time, actually or contingently, in any capacity, alone
or jointly with any other person; (ii) interest on such monies, to the date
on which the chargee receives payment, at the rates payable by the Company or
which would have been payable but for any circumstance which restricts
payment and (iii) all expenses of the chargee in perfecting or enforcing this
Charge |
|
11-12-2007 |
Instrument: Assignment
of Export DC Proceeds Property: The Customer as beneficial owner and by
way of security for the payment of the Secured Monies has assigned or agreed to
assign to the Bank (a) all monies in any currency representing proceeds
payable or to paid to the Customer under the Export Documentary Credits, (b)
all the Customer’s right, title, benefit and interest in the Export
Documentary Credits and (c) the benefit of all powers and remedies for
enforcing the Export Documentary Credits Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
All monies and liabilities in any currency |
|
31-12-2012 |
Instrument: Trade
Finance Security Agreement Property: A) Assigns to the Bank to the
following assets: (i) the Export Credits; (ii) the Export Collection Bills;
(iii) the Sales Contracts; (iv) the Invoice Receivables; (v) the
Purchase Contracts; (vi) the
Insurances; (vii) the Trade Documents; (viii) the Bills of Exchange,
(ix) the Related Collaterals; and (x) all claims B) Charges to the Bank to the
following assets: (i) the Goods together with their proceeds: (ii) the
Deposit; and (iii) to the extent any Security Assets C) Pledges to the Bank the Pledged
Goods and the Trade Documents D) Charges and agrees to charge
to the Bany by way of first charge all the present and future rights, title,
interest and benefits of the Borrower in and to any Security Asset which is
decribed in the above sub-clauses (a), (b) and (c) but is not effectively
charged by way of fixed charge or assigned or pledged under the above
sub-clause (a), (b) and (c) Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
All monies, obligations and liabilities |
|
02-08-2013 |
Instrument: Letter
of Pledge Property: A pledge upon
all negotiable instruments and upon all produce and goods and all bills of
lading, warrants, delivery orders, wharfingers or other warehouse keepers certificates
or receipts and upon all documents of title whatsoever and the produce and
goods to which the same relate Mortgagee: ING
Bank N.V., Hong Kong Branch. |
All monies |
|
02-08-2013 |
Instrument: Deed
of Charge and Assignment of Receivables Property: The Assignor
executed and delivers this Deed in favour of the Assignee as security for the
payment of the Secured Amounts and the performance and discharge of all
undertaking, covenants, terms and conditions on the part of the Assignor
under or in connection with the facilities or the Deed Mortgagee: ING
Bank N.V., Hong Kong Branch. |
All monies |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
|
|
1 |
Rs.101.09 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.