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Report No. : |
329017 |
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Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
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Name : |
OXYDE CHEMICALS CHINA LTD. |
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Registered Office : |
c/o Minimax Corporate & Management Services Ltd. Room 1507, 15/F., Emperor Group Centre, 288 Hennessy Road, Wanchai, |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.06.2007 |
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Com. Reg. No.: |
38221498 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading in metals and minerals |
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No of Employees : |
No Employees In Hong Kong NOTE : It is to be noted that the company does not have its
own operating office in Hong Kong. The company uses the address of its
secretariat as its correspondence address only. Subject operates from some
other country and does not have a base in Hong Kong. Such companies are
registered in Hong Kong just to tax benefit purpose and due to the strict
privacy laws prevailing in the country. In such cases, the companies are not
required to have any employees in Hong Kong nor do have an office there. |
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 : |
No Operating Office In Hong Kong |
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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) |
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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 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.
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Source
: CIA |
OXYDE CHEMICALS
CHINA LTD.
Registered
Office:-
c/o Minimax Corporate & Management Services Ltd.
Room 1507, 15/F., Emperor Group Centre, 288 Hennessy Road, Wanchai, Hong
Kong.
Holding Company:-
Oxyde International Ltd., British Virgin Islands.
Ultimate Holding
Company:-
Oxyde Chemicals Inc., USA.
Associated/Affiliated
Companies:-
C. Ivan & Co. Ltd., Taiwan.
Excel Trade, India.
OCB Trading Ltda., Brazil.
OCI Indonesia, Indonesia.
OCV Trading Venezuela C.A., Venezuela.
Oxyde Belgium BVBA, Belgium.
Oxyde Chemicals (Guangdong), China.
Oxyde Chemicals (India), India.
Oxyde Chemicals (Turkey), Turkey.
Oxyde Chemicals Far East Ltd., China.
Oxyde Chemicals Korea Corporation, South Korea.
Oxyde Colombia S.A., Colombia.
Oxyde Quimica S.A. de C.V., Mexico.
Petroxy Polymers, India.
etc.
38221498
1141183
HK$1,000.00
(As per registry dated
13-06-2014)
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Name |
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No. of shares |
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Oxyde International Ltd. Arawak Chambers, Sea Meadow House, P.O. Box 173,
Blackburne Highway, Road Town, Tortola, British Virgin Islands. |
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1,000 ==== |
(As per registry
dated 13-06-2014)
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Name (Nationality) |
Address |
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Jose Fernando RODRIGUEZ |
Unit 7E, Two Waterway Court, The Woodlands, Texas 77380, USA. |
(As per registry
dated 13-06-2014)
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Name |
Address |
Co. No. |
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Minimax Corporate & Management Services Ltd. |
Room 1507, 15/F., Emperor Group Centre, 288 Hennessy Road, Wanchai,
Hong Kong. |
0460445 |
The subject was incorporated on 13th June, 2007 as a private limited
liability company under the Hong Kong Companies Ordinance.
The subject changed its corporate secretary in May 2013.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Oxyde Chemicals China Ltd. is a wholly-owned subsidiary of Oxyde
International Ltd. which is a BVI-registered firm. Its ultimate holding company Oxyde Chemicals
Inc. [Oxyde Chemicals] is a US-based and registered firm.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Room 1507, 15/F., Emperor Group Centre, 288 Hennessy
Road, Wanchai, Hong Kong known as Minimax Corporate & Management Services
Ltd. [Minimax] which is handling its correspondences and documents. Minimax is also the corporate secretary of
the subject.
Oxyde Chemicals was founded in 1924 trading in metals and minerals in
Amsterdam, Holland. In the early 1950s,
it became an international marketer of chemicals and plastics. From the Netherlands Oxyde Chemicals has
expanded by setting up several offices in Europe and later in the United States
by setting up an office in Houston under the name of Oxyde Chemicals, Inc. Then this company has expanded into Latin
America and Asia.
Today, its privately held company works and trades in more than 60
countries, serving its partners from regional centres.
Oxyde Chemicals trades in those products that range from fibre
intermediates like MEG to plastic resins such as PVC. Today, Oxyde Chemicals has had offices in
countries around the globe; from the Americas to Europe, from Asia to
Africa. In addition to trading, Oxyde
Chemicals maintains a distribution network for select products in the United
States, Europe, Mexico and Venezuela.
Oxyde Chemicals has registered
with the Houston Minority Supplier Development Council as a “Minority Business
Enterprise” as defined by the National Minority Supplier Development Council
Inc. under NAICS Code 326122.
As a vital international trading partner, Oxyde Chemicals offers
customers with a broad range of petrochemical and plastic raw materials. It is trading in the following products:-
Oxyde Chemicals has set up office and associated companies in China,
South Korea, Indonesia, Brazil, Mexico, Venezuela, etc. It also has had office in India, Turkey,
Guangzhou of China, etc.
The one in India is known as Oxyde Chemicals India which is in Pune,
Maharashtra, India. This company is
trading in Chlorine, caustic soda prills, trade and distribute of inorganic
intermediates, acrylic butadiene styrene, caustic soda liquid, copolymer, etc.
The subject has been banking with The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong.
The subject is fully supported by Oxyde Chemicals. History in Hong Kong is over seven years and
nine months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
|
Date |
Description of Instrument |
Mortgagee |
|
11-12-2007 |
Security Over
Deposits |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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31-12-2012 |
Trade Finance
Security Agreement |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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02-08-2013 |
Letter of Pledge |
ING Bank N.V., Hong Kong Branch. |
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02-08-2013 |
Deed of Charge and
Assignment of Receivables |
ING Bank N.V., Hong Kong Branch. |
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13-10-2014 |
Assignment of
Receivables and Charge Over Proceeds |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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13-10-2014 |
Charge Over Securities and Deposits with the
Bank (Limtied Company) |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
NOTE :
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 62.66 |
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|
1 |
Rs. 100.50 |
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Euro |
1 |
Rs. 71.31 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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 |
-- |
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.