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Report Date : |
01.08.2014 |
IDENTIFICATION DETAILS
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Name : |
LAMBERTI ASIA
PACIFIC LTD. |
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Formerly Known as : |
Sampson Ltd |
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Registered Office : |
c/o Clyde Services Ltd. Suite 5801 & 5804-5806, 58/F., |
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Country : |
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Date of Incorporation : |
23.06.1993 |
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Com. Reg. No.: |
17167015 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
· engaged in distributing Chemicals for Textile, Leather, Construction, Paints and Coatings, Ceramics, Paper, Personal Care and Agrochemicals. Subject Main Products are Natural Polymers (HP Guar and
CMC), Synthetic Polymers (Acrylic, PES And Polyurethanes), Pigments,
Surfactants and UV Catalysts. |
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No of Employees : |
18. ( 40. ( |
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 01, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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
LAMBERTI ASIA
PACIFIC LTD.
Room 1305-1308, 13/F., APEC Plaza, 49 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2861 3662
FAX: 852-2529 3948
E-MAIL: lap@lamberti-hk.com
Managing Director: Mr. Giorgio Pagnoncelli
Incorporated on: 23rd June, 1993.
Organization: Private Limited Company.
Issued Capital: HK$1,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 18. (Hong Kong)
40. (China)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o Clyde Services Ltd.
Suite 5801 & 5804-5806, 58/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
Head Office:-
Room 1305-1308, 13/F., APEC Plaza, 49 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong.
Beijing
Representative Office:-
Room 0625, Yuan Chenxin Office Building, No. 12 Yumin Road, Dewai Madian, Chaoyang District, 100029 Beijing, China.
[Tel/Fax: 86-10-8225 0820]
Holding Company:-
Lamint S.A.R.L., Luxembourg.
Ultimate Holding
Company:-
Lamberti S.p.A., Italy.
Associated/Affiliated
Companies:-
Lamberti Group of Companies
Cesalpinia Chemicals S.p.A., Italy.
JOB S.p.A., Italy.
Lagor S.p.A., Italy.
Lamberti Aditivos Ceramicos S.A., Spain.
Lamberti Asia Pacific Ltd., Korea.
Lamberti Brasil Produtos Químicos Ltda., Brazil.
Lamberti Chemical Specialties (Shanghai) Co. Ltd., China.
Lamberti Deutschland GmbH, Germany.
Lamberti France S.A.S., France.
Lamberti Hydrocolloids Private Ltd., India.
Lamberti Iberia S.A.U., Spain.
Lamberti Kimya, Turkey.
Lamberti Polska, Poland.
Lamberti Quimica S.A., Spain.
Lamberti Rus, Russia.
Lamberti Speciality Chemicals (Pty) Ltd., South Africa.
Lamberti Synthesis USA Inc., US.
Lamberti USA Inc., US.
Lambra Produtos Quimicos Auxiliares, Brazil.
P.T. Lamberti Indonesia, Indonesia.
Quimica Lamberti de Mexico S.A. de C.V., Mexico.
Sashim S.p.A., Italy.
Savicell S.p.A., Italy.
Unichem S.p.A., Italy.
17167015
0429624
Managing Director: Mr. Giorgio Pagnoncelli
HK$1,000,000.00
(As per registry
dated 23-06-2014)
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Name |
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No.
of shares |
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Lamint S.A. 5, rue Jean Monnet,
L-2180, Luxembourg. |
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1,000,000 ======= |
(As per registry
dated 23-06-2014)
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Name (Nationality) |
Address |
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Mario
GAGLIARDI |
Via Diaz 16, Rescaldina,
Italy. |
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Giorgio
PAGNONCELLI |
Flat A, 22/F., Tower 3, Hillsborough
Court, 18 Old Peak Road, Hong Kong. |
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Roberto PORRO |
Via Villa No. 20, I-20057
Vedano A1, Lambro (M1), Italy. |
(As per registry
dated 23-06-2014)
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Name |
Address |
Co.
No. |
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Clyde Services Ltd. |
Suite 5801 & 5804-5806, 58/F., Central Plaza, 18
Harbour Road, Wanchai, Hong Kong. |
0182196 |
The subject was incorporated on 23rd June, 1993 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Sampson Ltd., name changed to the present style on 12th August, 1993.
The subject changed its registered address to the present one in June, 2011.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of industrial chemicals.
Employees: 18. (Hong Kong)
40. (China)
Commodities Imported: Europe, Asia, etc.
Markets: Asia, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
The Italian Chamber of Commerce in Hong Kong and Macao, Hong Kong.
Issued Capital: HK$1,000,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in an and satisfactory condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Very Good.
Lamberti Asia Pacific Ltd. is a wholly-owned subsidiary of Lamint S.A. which is a Luxembourg-based firm. The subject’s ultimate holding company is Lamberti S.p.A [Lamberti], an Italy-based firm.
The subject is the trading branch of Lamberti. It features offices, a state of the art laboratory and a warehouse in Hong Kong.
At the beginning, the subject was mainly active in textile chemicals and its business territories just covered the Greater China and South Korea only. Later, the subject has expanded both of its business territories and business areas. Two representative offices in China were added in 1996, one in Beijing and one in Shanghai. In 2003, two more representative offices were opened in Jakarta and Seoul.
The subject is engaged in distributing chemicals for textile, leather, construction, paints and coatings, ceramics, paper, personal care and agrochemicals. Its main products are natural polymers (HP guar and CMC), synthetic polymers (acrylic, PES and polyurethanes), pigments, surfactants and UV catalysts. Its network of direct sales representative and agents covers China, Taiwan, South Korea, Japan, Thailand, Vietnam, Malaysia, Singapore, Indonesia and the Philippines.
Currently, the
subject is trading in the following commodities and offering clients with the
following services:-
Industrial Chemicals (Natural and synthetic thickeners, water-based polyurethane dispersions (PUD), photoinitiators, PVC stabilizers, surfactants, emulsion polymerization and more for the following industries: Textile, Leather, Paints & Inks, Construction, Ceramics, PVC, Paper, Cosmetics. Agro, Oil., Natural and synthetic thickeners, water‑based polyurethane dispersions (PUD), photoinitiators, PVC stabilizers, surfactants, emulsion polymerization and more for the following industries: Textile, Leather, Paints & Inks, Construction, Ceramics, PVC, Paper, Cosmetics. Agro, Oil.), Dyeing, Tanning & Colouring Materials (Tanning only, Pigment for textile, Tanning only & Pigment for textile)
The subject is
carrying the following products and brand names:-
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Brand Name |
Brand
Product/Service |
Brand Remarks |
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Lamberti |
Industrial Chemicals |
For paper and cosmetics |
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Dyeing, Tanning and Colouring Materials |
Pigment for textile and paint |
Lamberti, founded in 1911, is an Italian chemical company leading a group of companies that have achieved a significant turnover.
The Lamberti Group is present in Italy and abroad with subsidiaries and production facilities.
The Group’s 1,000 employees are engaged in Production, R&D, Sales and Services. Its headquarters are in Gallarate, Italy, about 40 km North of Milan. The main production facilities, the technological centre and logistics offices are situated in Albizzate, Italy.
Lamberti has subsidiaries all over the world in France, Spain, Turkey, the United States, Mexico, Brazil, South Africa, China, etc. Lamberti obtained, the International Quality Certification (En ISO 9001) in 1992. Lamberti has adopted SAP/R3, an advanced operating system for the management of the companies’ processes and procedures.
Mr. Giorgio Pagnoncelli is the Managing Director of the subject and Managing Director of Asia Pacific of the Group.
The subject is fully supported by Lamberti. History in Hong Kong is over 21 years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.25 |
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UK Pound |
1 |
Rs.101.92 |
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Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.