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Report No. : |
307681 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ARCHROMA
[ |
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Registered Office : |
6th Floor, |
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Country : |
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Date of Incorporation : |
21.05.2013 |
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Com. Reg. No.: |
0105556081777 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
engaged
in Manufacturing, Distributing and
Exporting wide range
of Specialty Chemicals
for Papers and
Textiles Industries, as
well as Industrial
Adhesives for Various
Industries |
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No of Employees : |
71 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
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 |
Thailand ECONOMIC OVERVIEW
With a well-developed
infrastructure, a free-enterprise economy, generally pro-investment policies,
and strong export industries, Thailand achieved steady growth due largely to industrial
and agriculture exports - mostly electronics, agricultural commodities,
automobiles and parts, and processed foods. Unemployment, at less than 1% of
the labor force, stands as one of the lowest levels in the world, which puts
upward pressure on wages in some industries. Thailand also attracts nearly 2.5
million migrant workers from neighboring countries. The Thai government in 2013
implemented a nation-wide 300 baht ($10) per day minimum wage policy and
deployed new tax reforms designed to lower rates on middle-income earners. The
Thai economy has weathered internal and external economic shocks in recent
years. The global economic recession severely cut Thailand's exports, with most
sectors experiencing double-digit drops. In late 2011 Thailand's recovery was
interrupted by historic flooding in the industrial areas in Bangkok and its
five surrounding provinces, crippling the manufacturing sector. The government
approved flood mitigation projects worth $11.7 billion, which were started in
2012, to prevent similar economic damage, and an additional $75 billion for
infrastructure over the following seven years. This was expected to lead to an
economic upsurge but growth has remained slow, in part due to ongoing political
unrest and resulting uncertainties. Spending on infrastructure will require
re-approval once a new government is seated.
|
Source : CIA |
ARCHROMA [THAILAND]
COMPANY LIMITED
BUSINESS
ADDRESS : 6th FLOOR,
VIBULTHANI TOWER 1,
3195/11 RAMA
4 ROAD, KLONGTON,
KLONGTOEY, BANGKOK
10110, THAILAND
TELEPHONE : [66] 2661-5360
FAX :
[66] 2661-4040,
2661-4060
E-MAIL
ADDRESS : textile.thailand@archroma.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2013
REGISTRATION
NO. : 0105556081777
TAX
ID NO. : 3035839621
CAPITAL REGISTERED : BHT.
3,000,000
CAPITAL PAID-UP : BHT. 750,000
SHAREHOLDER’S PROPORTION : THAI
: 0.01%
FOREIGN :
99.99%
FISCAL YEAR CLOSING DATE : -
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
DAMRONG ROONKASEAM, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 71
LINES
OF BUSINESS : SPECIALTY CHEMICALS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
The
subject was established
on May 21,
2013 as a
private limited company under
the registered name
ARCHROMA [THAILAND] COMPANY LIMITED,
by Thai, American
and Luxembourg investors,
with the business
objective to manufacture
and distribute wide range
of specialty chemicals
to domestic and
international markets. It
currently employs 71
staff.
The
subject’s registered address
is 6th Floor,
Vibulthani Tower 1, 3195/11
Rama 4 Road, Klongton,
Klongtoey, Bangkok 10110,
and this is
the subject’s current
operation address.
|
Name |
|
Nationality |
Age |
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Mr. Michel Pierre Zumstien |
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French |
45 |
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Mr. Thomas Winkler |
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Dutch |
54 |
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Mr. Christian Till Heinichen |
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German |
50 |
|
Mr. Damrong Roonkaseam |
|
Thai |
- |
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
Mr. Damrong Roonkaseam is
the Managing Director.
He is Thai nationality.
Mr. Pranart Chaiyarat is
the Account Manager.
He is Thai
nationality.
The subject is
engaged in manufacturing, distributing
and exporting wide
range of specialty
chemicals for papers
and textiles industries,
as well as
industrial adhesives for
various industries. Its
production has been
started since the
late of 2013.
“ARCHROMA”
Raw materials are
purchased from suppliers
both domestic and
overseas, mainly in
U.S.A., India, Republic
of China, Luxembourg
and Switzerland.
Archroma
Textiles Sarl. :
Luxembourg
Clariant
International Ltd. :
Switzerland
Clariant
[Thailand] Co., Ltd. : Thailand
95% of the
products is sold locally to wholesalers, manufacturers and
end-users, the remaining
5% is exported
to India.
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
Bankruptcy and
Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject for
the past two
years.
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
Bangkok
Bank Public Co.,
Ltd.
The
subject currently employs
71 staff.
The
premise is rented for
administrative office at
the heading address.
Premise is located
in commercial area.
Factory
and warehouse are
located at 851
Moo 4, Bangpoo
Industrial Estate, Soi
11, Sukhumvit Road,
T. Praeksa, A. Muang, Samutprakarn
10280.
The
subject has started
its business in
May 2013, its
business performance has
grown adversely but
no financial result
available at the
moment.
The
capital was registered
at Bht. 3,000,000 divided into
30,000 shares of
Bht. 100 each, with
the capital paid-up
at Bht. 750,000
or 30,000 shares
of Bht. 25 each.
THE
SHAREHOLDERS LISTED WERE
: [as at April
19, 2013] at
Bht. 750,000 of
capitalization
|
NAME |
HOLDING |
% |
|
|
|
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Archroma Thai Holdings,
LLC Nationality: American Address : 1209
Orange Street, Wilmington,
New Castle,
Delaware, U.S.A. |
15,300 |
51.00 |
|
Archroma Textiles Sarl. Nationality: Luxembourg Address : 19 Ru de
Bitbourg, L-1273 Luxembourg |
14,697 |
48.99 |
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Mr. Veeravi Benyajati Nationality: Thai Address : 273 Soi
Sukhumvit 49, Klongtonnua,
Wattana, Bangkok |
1 |
|
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Mr. Chay Lertwittayachaikul Nationality: Thai Address : 220
Somdejchaopraya Road, Klongsan, Bangkok |
1 |
= 0.01 |
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Ms. Kavita Pradoemkulchai Nationality: Thai Address : 75/6
Moo 1, Seekan, Donmuang,
Bangkok |
1 |
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Total Shareholders : 5
Share Structure [as
at April 19,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
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Thai |
3 |
3 |
0.01 |
|
Foreign |
2 |
29,997 |
99.99 |
|
Total |
5 |
30,000 |
100.00 |
Note:
The 2013 financial
statement was not
submitted to the
Commercial Registration Department
during investigation.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
UK Pound |
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
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 |
|
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.