MIRA INFORM REPORT
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Report No. : |
303914.2 |
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Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
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Name : |
BETA CHEMICALS LIMITED |
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Registered Office : |
Workshop 7, 25F, Kwong Kin Trade Centre, 5 Kin Fat St., Tuen Mun, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.09.1993 |
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Com. Reg. No.: |
17357430 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
According to Public Files, subject is engaged in sale of pesticides but not confirmed by the subject. |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to part
any information from the company management.] |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Exists |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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Hong Kong |
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 |
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.
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Source : CIA |
Contact Points
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Company Name (in Chinese): |
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Company Name (in English): |
Beta Chemicals Limited |
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Supplied Name: |
BETA CHEMICAL LTD |
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Trading Address: |
Workshop 7, 25F, Kwong Kin Trade Centre, 5 Kin Fat St., Tuen Mun, New
Territories, Hong Kong |
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Supplied Address: |
WORKSHOP 7 25/F KWONG KIN FAT STREET TUEN MUN NT HONGKONG |
Note: The exact name is as above.
Credit Summary
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Credit Opinion: |
In view of the absence of
information about subject’s operation status, caution should be exercised. |
Special Note
We visited the supplied address, and found the subject is located on it. We tried to obtain the operation information from the relevant staff, but they declined to disclose any information about the subject. The guard of the building did not let us take photos in it, and the photo in the attachment of the report for your reference.
We tried to contact the subject through the supplied number +852-5170-9006 many times, but it cannot be through.
According to the supplied name, we found another telephone number (+852-2687-3238) from public files. We tried to contact the subject through the number, and a man answered the phone said he did not know the subject at all.
From public files, we found the telephone number (+86-10-5170-9001) of subject’s parent company in Beijing of the Mainland of China. We contact the company through the number, and a lady answered the phone said her company is engaged in sale of pesticides, etc. She introduced that she heard of the subject but did not know the telephone number and declined to disclose any other information of the subject or transfer the number to others.
From public files, we found subject is engaged in sale of pesticides but which is not confirmed by the subject.
Update to date of reporting, we failed to obtain the operation information of the subject. If you can supply further information such as current telephone number, we’d like to have the investigation resumed.
We found subject’s registration information as follows for reference.
Company Identification Details
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Registered Name: |
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Registered Address: |
Workshop 7, 25F,
Kwong Kin Trade Centre, 5 Kin Fat St., Tuen Mun, New Territories, Hong Kong |
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Date of Registration: |
1993-9-2 |
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Registered Number: |
448115 |
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Business Registration No.: |
17357430 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD 1 (As of 2015.1, 1 HKD = 0.129 USD) |
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Legal Form: |
Private Limited Liability Company |
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Principal Activities: |
N/A |
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Staff: |
N/A |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-9-2 |
Notes: The
subject declined to disclose the number of staff and principal activities, and
from other source we cannot obtain the relevant information, either.
History
Subject was incorporated on 1993-9-2 with the registered number 448115 as Private Limited Liability Company in Hong Kong.
Transfer of
Shares:
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2013-10-24 |
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Transferred From |
No. of Shares Transferred |
Transferred To |
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Ho King Wah |
10,000 |
Beijing Beta Chemicals Limited (Literal
Translation) |
Corporate Structure
Parent Company
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Name: |
Beijing Beta Chemicals Ltd. |
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Address: |
Rm. 1707, Block C, Kingsound Centre, 116 Zi
Zhu Yuan Rd., Haidian Dist., Beijing, PRC |
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Principal Activities: |
Sale of pesticides, herbicides, fungicides & intermediates The sales regions of the company are
domestic market and abroad. |
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Tel: |
+86-10-5170-9001 Ext.836/838/826 |
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Fax: |
+86-10-5170-9008 |
Shareholders
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Subscription Shares |
Proportion of Investment (%) |
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Beijing Beta Chemicals Ltd. |
10,000 |
100% |
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Total |
10,000 |
100% |
Major Shareholder
Information:
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Name: |
Beijing Beta Chemicals Ltd. |
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Address: |
Rm. 1707, Block C, Kingsound Centre, 116 Zi
Zhu Yuan Rd., Haidian Dist., Beijing, PRC |
Former
Shareholders Information:
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Name: |
Ho King Wah |
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Address: |
Workshop 7, 25F, Kwong Kin Trade Centre, 5
Kin Fat St., Tuen Mun, New Territories, Hong Kong |
Management Information
Core
Management
Detailed
Information of Directors:
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1 |
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Name: |
Ho King Wah |
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Address: |
Workshop 7, 25F, Kwong Kin Trade Centre, 5
Kin Fat St., Tuen Mun, New Territories, Hong Kong |
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Position: |
Director |
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ID Number: |
K 490725(6) |
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2 |
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Name: |
Kentric Management Company Limtied |
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Address: |
Rm. 1509, C C Wu Building, 302-8 Hennessy Rd.,
Wanchai, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
75745 |
Operation Information
Offices
& Factories
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Office |
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Address: |
Workshop 7, 25F, Kwong Kin Trade Centre, 5
Kin Fat St., Tuen Mun, New Territories, Hong Kong |
Premises
Information
Office address:
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Address: |
Workshop 7 On 25th Floor Kwong Kin Trade
Centre No. 5 Kin Fat Street Tuen Mun New Territories |
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Owners: |
Beta Industrial (China) Limited |
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Memorial Number: |
07032301790077 Assignment With Plan |
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Date of Instrument: |
2007-2-28 |
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Date of Registration: |
2007-3-23 |
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Consideration Value: |
HKD 360,000.00 |
History
of Premises Owners’
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1 |
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Memorial No.: |
07022301700035 |
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Date of Instrument: |
2007-2-10 |
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Date of Registration: |
2007-2-23 |
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Nature: |
Agreement For Sale And Purchase With Plan |
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In Favor of: |
Beta Industrial (China) Limited |
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Consideration: |
HKD 360,000.00 |
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2 |
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Memorial No.: |
TM677537 |
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Date of Instrument: |
1995-3-9 |
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Date of Registration: |
1995-3-25 |
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Nature: |
Mamagement Agreement |
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3 |
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Memorial No.: |
TM677536 |
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Date of Instrument: |
1995-3-9 |
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Date of Registration: |
1995-3-25 |
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Nature: |
Deed Of Mutual Covenant |
Operation
Information
From public files, we found subject is engaged in the following business:
Subject is engaged in sale of chemicals.
The major products of the subject include herbicides, intermediates, insecticides & fungicides.
It is introduced that subject’s sales regions include domestic market and abroad.
The above information is from public files, and the subject declined to confirm it.
Financial Information
The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.
Subject declined to disclose the information, and from the other source we cannot obtain the information, either.
Bankers
Subject declined to disclose the information, and from the other source we cannot obtain the information, either.
Public Records
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Date: |
2006-09-23 |
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Court Name: |
High Court Commercial Action |
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Court No.: |
2750 |
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Claimant: |
(WONG YIM CHU) (LBTC2750/2006) (Parties) |
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Defendant: |
(BETA CHEMICALS LIMITED) (LBTC) (Parties) |
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Reason: |
Not Stated |
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2 |
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Date: |
2006-06-21 |
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Court Name: |
High Court Commercial Action |
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Court No.: |
2750 |
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Claimant: |
(WONG YIM CHU) (LBTC) (Parties) |
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Defendant: |
(BETA CHEMICALS LIMITED) (LBTC) (Parties) |
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Reason: |
Not Stated |
Mortgage
Record
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Company Name: |
Beta Chemicals Ltd |
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Instrument of Creating Mortgage: |
Charge On Deposit(s) |
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Date of Creating Mortgage: |
1999-12-28 |
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Amount Secured: |
To secure the payment of all moneys,
obligations and liabilities, whether actual or contingent, which are now or
may at any time hereafter be or become due, owing or incurred to the
mortgagee by Beta Chemicals Ltd. |
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Name of Mortgagee: |
Nanyang Commercial Bank, Limited |
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Address of Mortgagee: |
No. 151, Des Voeux Rd., Central, Hong Kong |
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Description of Property Mortgaged: |
Fixed deposit of HKD 2,500,000.00, deposit
No. 043-490-5-906997-1 issued by Nanyang Commercial Bank Ltd to Beta Chemicals
Ltd as depositor and all interest thereon and renewals thereof and addition
thereto. |
Attachment
Address: Workshop 7, 25F, Kwong Kin Trade Centre, 5
Kin Fat St., Tuen Mun, New Territories, Hong Kong
Kwong Kin Trade Centre, 5 Kin Fat St., Tuen Mun, New Territories, Hong
Kong
%2028-Jan-2015_files/image006.gif)
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
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UK Pound |
1 |
Rs.92.77 |
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Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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.