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Report No. : |
307792 |
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Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ARCHROMA HONG KONG PVT. LTD. |
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Registered Office : |
Unit 7A & B, 45/F., Metroplaza Tower 2, 223 Hing Fong Road, Kwai Fong, New Territories |
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Country : |
Hongkong |
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Date of Incorporation : |
12.04.2013 |
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Com. Reg. No.: |
61269110 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of Dyestuff, Other Textile Chemicals. |
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No. of Employees : |
8 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hongkong |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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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 |
HONGKONG - 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 |
ARCHROMA
HONG KONG PVT. LTD.
ADDRESS: Unit 7A & B, 45/F.,
Metroplaza Tower 2, 223 Hing Fong Road, Kwai Fong, New Territories, Hong Kong.
PHONE: 852-3462
6110
FAX: Not
available.
E-MAIL: textiles.hongkong@archroma.com
Managing Director:
Ms. Wong Suk Man
Incorporated on: 12th April, 2013.
Organization: Private Limited Company.
Issued Share Capital: HK$1.00
Business Category: Textile
Chemical Trader.
Employees: 8.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
Unit 7A & B, 45/F., Metroplaza Tower 2, 223 Hing Fong
Road, Kwai Fong, New Territories, Hong Kong.
Holding Company:-
Archroma Textiles S.a.r.l, Luxembourg.
Associated
Companies:-
Archroma (Bangladesh) Ltd., Bangladesh.
Archroma (Thailand) Co. Ltd., Thailand.
Archroma Argentina S.A., Argentina.
Archroma Chemicals (China) Ltd., China.
Archroma Chile Ltda., Chile.
Archroma Colombia S.A.S., Colombia.
Archroma Distribution & Management Germany GmbH,
Switzerland.
Archroma Honduras S.A.de C.V., Honduras.
Archroma India Pvt. Ltd., India.
Archroma International Ltd., Switzerland.
Archroma Management & Distribution GmbH, Germany.
Archroma Management GmbH, Switzerland.
Archroma Management LLC, Switzerland.
Archroma Pakistan Ltd., Pakistan.
Archroma Peru S.A., Peru.
Archroma Singapore Pte. Ltd., Singapore.
Archroma Textiles Mexico S. de R.L. de C.V., Mexico.
Archroma U.S. Inc., US.
Archromaturkey Kimya San ve Tic. Ltd., Turkey.
M. Dohmen SA, Switzerland.
PT Archroma Indonesia, Indonesia.
61269110
1890759
Managing Director:
Ms. Wong Suk Man
HK$1.00
(As per registry dated 12-04-2014)
|
Name |
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No. of share |
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Archroma Textiles S.a.r.l 19, reu de Bitbourg, L-1273, Luxembourg. |
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1 = |
(As per registry dated 12-04-2014)
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Name (Nationality) |
Address |
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Johannes Marinus Machiel LOURENS |
Van der Hoevenplein 231, 3072 MK Rotterdam,
The Netherlands. |
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Roland Michael WAIBEL |
Hesenrain 36, 4106 Therwil, Switzerland. |
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WONG Suk Man |
Flat A, 3/F., Dragon Peak, 9 Dragon Terrance, Tin Hau,
Hong Kong. |
(As per registry dated 12-04-2014)
|
Name |
Address |
Co. No. |
|
Prinza Ltd. |
Room 3806, 38/F., Central Plaza, 18 Harbour Road,
Wanchai, Hong Kong. |
0334490 |
The subject was incorporated on 12th April, 2013 as a
private limited liability company under the Hong Kong Companies Ordinance.
Formerly the registered address of the subject was
located at “Room 3806, 38/F., Central Plaza, 18 Harbour Road, Wanchai,
Hong Kong.” where was the operating address of Prinza Ltd., moved to the
present address in February 2014.
Apart from these, neither material change nor amendment
has been ever traced and noted.
Activities: Textile
Chemical Trader.
Lines: Dyestuff,
other textile chemicals.
Employees: 8.
Commodities Imported: Taiwan,
other Asian countries, Europe, etc.
Markets: Asian
countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, O/A, D/P, etc.
Issued Share Capital: HK$1.00
Mortgage or Charge:
(See attachment)
Profit or Loss: Made
a small profit in 2014.
Condition: Business
is improving.
Facilities: Making
rather 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: Normal.
Having issued just
one ordinary share of HK$1.00 each, Archroma Hong Kong Pvt. Ltd. is wholly
owned by Archroma Textiles S.a.r.l which is a Luxembourg-based company.
One of the subject’s
directors Ms. Wong Suk Man is residing in Hong Kong. She was appointed on 1st November, 2013. She is also managing director of the subject.
The subject is a
member of the Archroma Group of companies.
Archroma originated
the divisions of the Clariant Group. In
December 2012, Clariant Group signed a contract with a US-based organization SK
Capital Partners [SK Capital] to sell its Textile Chemicals, Paper Specialties
and Emulsions businesses from at the end of September, 2013.
Upon the closing of
the transaction, the three divisions were combined into an integrated,
market-focused, and collaborative company.
The name of the new company is Archroma.
In Hong Kong the company is known as the subject which was incorporated
in April 2013.
SK Capital is in New
York, the United States. It is a private
investment firm with a disciplined focus on the specialty materials, chemicals
and healthcare sectors.
According to SK
Capital, Archroma will be a world-leading supplier of products and solutions to
the textile, paper, adhesives, and coating industries. The company is headquartered in Switzerland
and its Textile Specialties, Paper Solutions and Emulsions Products businesses
will be managed, as they are today, from Singapore, Switzerland and Brazil
respectively.
The corporate head
office of Archroma is Archroma International Ltd. which is in Reinach,
Switzerland.
Archroma is a world
leader in colours, surface effects and performance chemicals.
It is represented on
five continents comprising 35 countries with over 25 group companies, and
employs around 3,000 people.
Headquartered in
Reinach near Basel, Switzerland, it generated a turnover of about CHF 1.3
billion in 2013.
Its Business Unit
Textile Chemicals is a global leader in specialty chemicals and dyes for
textile applications, from fibre to finish.
R&D activities at
Archroma are closely linked to market requirements and in conformity with
textile standards such as GOTS, Oeko-Tex®, bluesign®, etc.
The recognized brands
of Archroma are Diresul®, Drimaren®, Foron®, Nylosan®,
Nuva®, Cartabond®, Cartafix®, Cartaguard®, Cartaren®,
Cartasol®, Cartaspers®, Leucophor®, Mowilith®, Mowicoll®,
etc.
On 16th October,
2014, Archroma accounced that it had entered an agreement to acquire the global
textile chemicals business of BASF.
The business being acquired
delivers products and technologies across the entire textile chemicals
spectrum, with particular strength in printing, finishing and coating chemicals
segments. The acquisition ideally
complements Archroma’s textile dyes and chemicals portfolio and geographical
presence. In addition, the acquisition
will allow Archroma to reinforce its Textile Specialties team with a global
specialist team that has an especially strong presence in Asia and other high
growth markets. Both BASF’s and
Archroma’s textile businesses are headquartered in Singapore, close to the
highly developing Asian textile markets and customers.
The transaction
comprises the global textile chemicals business, as well as the legal entity
BASF Pakistan (Private) Ltd., Karachi. About 290 positions globally are in the
scope of the transaction, of which approximately 230 are in Asia.
The transaction is
subject to approval by the relevant antitrust authorities and the closing is
expected to take place by the end of the first quarter in 2015. The parties have agreed not to disclose the
financial details of the transaction.
The business of the
subject in Hong Kong is chiefly handled by Ms. Wong Suk Man.
The subject is fully
supported by the Archroma Group. History
in Hong Kong is just about a year and ten months.
On the whole,
consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
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30-09-2013 |
Instrument: Debenture Property: A) Real Property:
by way of first legal mortgage and first fixed charge all its rights, title
and interest B) Investments:
by way of first fixed charge all its rights, title and interest in and to the
scheduled investments and all other investments now belonging to it C) Monetary
Claims: by way of first fixed charge all fixed charge all its rights title
and interest present and future in and all Monetary Claims and all Related
Rights other than any claims which are otherwise subject a fixed charge or
assignment pursuant to this Deed D) Intellectual
Property: by way of first fixed charge all its rights, title and interest
present and future in and to intellectual property and all related rights E) Bank
Accounts: by way of first fixed charge all its rights, title and interest
present and future in and to the Bank account F) Insurance
Policies: by way of first fixed charge all its rights, title and interest
present and furore in and to the insurance policies and all related rights; G) Personal
Chattels: by way of first fixed charge all its rights, title and interest
present and future in and to the Personal Chattels H) Authorisation:
by way of first fixed charge the benefit of all consents, agreements and
other authorisations held by it connection with any of its assets; and I) Goodwill
and uncalled capital and pension fund: by way of first fixed charge all its
rights, title and interest present and future in and to (i) all its goodwill;
and (iii) any pension fund and plan Mortgagee: Jefferies Finance LLC, |
The payment and discharge of all secured obligations |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
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|
1 |
Rs.96.21 |
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Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
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.