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Report Date : |
17.09.2014 |
IDENTIFICATION DETAILS
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Name : |
U-VEX
CHEMICALS ( |
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Registered Office : |
Unit 1901,
19/F., Block B, New Trade Plaza, 6 On Ping Street, Shatin,
New Territories |
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Country : |
Hongkong |
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Date of Incorporation : |
22.02.1996 |
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Com. Reg. No.: |
19685697 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Wholesalers
and Re-Exporter of Resins, Pigments, Wax, Additives, Decorative Materials |
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No of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
HONGKONG - ECONOMIC
OVERVIEW
|
Source
: CIA |
U-VEX CHEMICALS (
ADDRESS: Unit 1901, 19/F., Block B, New
Trade Plaza, 6 On Ping Street, Shatin, New Territories, Hong Kong.
PHONE: 852-2690 3882, 3188 9988
FAX: 852-2692 7780
E-MAIL: info@u-vex.com
Managing Director:
Mr. Chan Ming Kai
Incorporated
on: 22nd
February, 1996.
Organization: Private
Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$500,000.00
Business Category: Importer, Wholesaler and Re-exporter.
Employees: 20. (
Main Dealing
Banker:Hang Seng Bank Ltd.,
Banking
Relation: Satisfactory.
Registered Head Office:-
Unit 1901, 19/F., Block B, New Trade Plaza, 6 On
Ping Street, Shatin, New Territories, Hong Kong.
Room 1401, Building B,
Tel (86-21) 6297 1919, 6243 2700
Fax: (86-21) 6257
2867
E-mail: shanghai@u-vex.com
U-Vex Chemicals
(Shenzhen) Co. Ltd.
Room 209-211, 2/F., Hong Cheng Ge, Zhong Huan Lu, Long Hua, Shenzhen 518109,
China.
Tel: (86-755) 2811
6657, 2811 6342
Fax: (86-755) 2811
7180
E-mail: shenzhen@u-vex.com
Associated Companies:-
Huizhou Phoetron
Plastics Co. Ltd.,
Phoetron
Corporation Ltd.,
Shenzhen Yue Kai
Trading Corporation Ltd.,
South China Yuekai
Trading Shenzhen Co. Ltd., China.
U-Vex (China)
Holdings Ltd., China.
19685697
0539742
Managing
Director: Mr. Chan Ming Kai
Contact
Person: Mr. Janelle Ho
Nominal Share
Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share
Capital: HK$500,000.00
(As per registry dated 22-02-2014)
|
Name |
|
No.
of shares |
|
CHAN
Ming Kai |
|
250,000 |
|
LIU Wai |
|
250,000 |
|
|
|
––––––– |
|
|
Total: |
500,000 ====== |
(As per registry dated 22-02-2014)
|
Name (Nationality) |
Address |
|
CHAN Ming Kai |
Flat D, 23/F., Block 13, Yuet Wu Villa,
Tuen Mun, New Territories, Hong Kong. |
|
LIU Wai |
Flat D, 23/F., Block 13, Yuet Wu Villa,
Tuen Mun, New Territories, Hong Kong. |
LIU Wai (As per registry dated 22-02-2014)
The
subject was incorporated on 22nd February, 1996 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly
the subject was located at Room 511, 5/F., Fo Tan Industrial Centre, 26-28 Au
Pui Wan Street, Fo Tan, Shatin, New Territories, Hong Kong; moved to Unit
1-3, 3/F., Block B, New Trade Plaza, 6 On Ping Street, Shatin, New Territories,
Hong Kong in March 2004 and further to present address at March 2011.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Wholesaler and Re-exporter.
Lines: Resins, Pigments, Wax, Additives, Decorative Materials
Employees: 20. (Hong Kong)
20. (China)
Commodities Imported: Imported from Europe, India, Japan, United States, etc.
Markets: Hong Kong, China, other Asian countries.
Terms/Sales: COD or as per contracted.
Terms/Buying: Various terms.
Nominal Share
Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share
Capital: HK$500,000.00
Mortgage
or Charge:-
Date of
Mortgage: 27-10-2008
Amount: To secure all moneys in respect of general
banking facilities
Property: 9/5,612th parts or shares of and in Sha Tin
Town Lot No. 372 (Workshop No. 1 on 19/F. of Block B of New Trade Plaza,
6 On Ping Street, Shatin, New Territories, Hong Kong.)
Mortgagee: Industrial & Commercial Bank of China
(Asia) Ltd., Hong Kong.
Profit or Loss: Made small profits in the past years.
Condition: Business has been active.
Facilities: Making active use of general banking
facilities.
Payment: No Complaints
Commercial
Morality: Satisfactory.
Bankers:-
Hang Seng Bank
Ltd., Hong Kong.
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Bank of China
(Hong Kong) Ltd., Hong Kong.
Industrial &
Commercial Bank of China (Asia) Ltd., Hong Kong.
Standing: Good.
Incorporated
in February 1996, U-Vex Chemicals (Hong Kong) Co. Ltd. is a private limited
company equally owned by Mr. Chan Ming Kai and Ms. Liu Wai. They are also directors of the subject. Chan and Liu is a couple.
The
subject is dealing in various kinds of specialty raw materials for paint and
ink industries. Its sales offices are in
Hong Kong, Shenzhen Special Economic Zone and Shanghai, China. It also has had trading partners in major
cities of various provinces of China.
The
subject has had an associated company Phoetron Corporation Ltd. [Phoetron]
located at the same address. Phoetron
and the subject are engaged in the same lines of business, more or less. However, Phoetron is significant for its
decorative concrete products. Phoetron
Decorative Concrete provides a full range of products including bag mixes,
Eco-Stains, sealers, moulds and tools.
It can be used for both indoor and outdoor applications for virtually
any decoration and resurfacing needs.
Theme parks, hotels, villas, home decoration, car parks, factory
floorings, landscaping, and renovation of floors and walls are only a few
examples of highly suitable applications.
It can imitate any kind of stone, tile, wood-texture, metal surface or
broom texture. Its associated factory in
Huizhou City is known as Huizhou Phoetron Plastics Co. Ltd.
The
subject represents reputed manufacturing companies, such as:-
·
Noveon Specialty Chemicals — Hyperdispersants,
Surface Modifiers, Resins and Polymers;
·
Dainippon Inks & Chemicals (Japan) — Organic
pigments;
·
Pflaumer Brothers Inc. (USA) — Dispersing agents
and functional additives;
·
Toyo Aluminium KK (Japan) — Toyal Aluminium paste;
·
Asha Dispersions (Japan) — Pigment chips;
·
Davy Speciality Chemicals Inc. — Metallic
Orientation Wax-gel and Anti-Setting Wax-gel, Baihe
organic pigments;
·
Sun Chemical – pigments and colour
chips;
·
Micro Inks Limited (India) – for resins, flushes;
·
Kronos (Germany) — Titanium Dioxide, etc.
Besides
the above-mentioned firms, the subject also represents the following
companies:-
American
Gilsonite Co., Zhejiang Baihe Chemical Holding Group, DIC (Dainippon Ink &
Chemicals Incorporated), Fukuda Metal Foil & Powder Co. Ltd., Micro Inks
Ltd., Dalian Nemoto Chemicals Co. Ltd., NOVEON Specialty Chemicals (Shanghai)
Ltd., SUBHASRI, Sun Chemical, Meghmani Organics Ltd., Lubrizol, Davy Speciality
Chemicals, etc.
According
to the subject, it provides clients with “efficient technical backup and
after-sales services”. Business has been
actively operated as regular customers have been maintained in South and East
China.
The
subject’s business is chiefly handled by Chan and Liu. The contact person is Mr. Janelle Ho.
The
subject operates from its own premises.
Since
the subject’s history in Hong Kong is over eighteen years and six months, on
the whole, consider it good for normal business engagements.
Property information of the
company:-
1. Property Location: Workshop No. 1-3 on 3/F. of Block B, New Trade Plaza, 6 On
Ping Street, Shatin, New Territories, Hong Kong.
Owner: U-Vex Chemicals (Hong Kong) Co. Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
01-09-2008 |
- |
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
2. Property Location: Workshop No. 1 on 19/F. of Block B, New Trade Plaza, 6 On
Ping Street, Shatin, New Territories, Hong Kong.
Owner: U-Vex Chemicals (Hong Kong) Co. Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
27-10-2008 |
- |
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.99 |
|
UK Pound |
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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|
Report Prepared
by : |
NIT |
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 |
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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 |
|
<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.