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Report No. : |
348374 |
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Report Date : |
06.11.2015 |
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 : |
Hongkong |
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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 : |
Not Available |
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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 Hongkong |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 12.5% of total system deposits in Hong
Kong by the end of 2014. 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 47.3 million
in 2014, 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 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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
4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from March 2015, cover
a negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
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.
[Tel: 852-2122
9970
Fax: 852-2122 9971
E-mail: fredwong@oxyde.com.hk.]
Holding Company:-
Oxyde International Ltd., British Virgin Islands.
Ultimate Holding
Company:-
Oxyde Chemicals Inc.
225 Pennbright Dr., Suite 101, Houston, Texas 77090, USA.
[Tel: 1+281-8749100;
Fax: 1+281-8749172]
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 Int’l Trade (Shanghai) 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
13th June, 2007.
HK$1,000.00
(As per registry dated 13-06-2015)
|
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 13-06-2015)
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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 13-06-2015)
|
Name |
Address |
Co. No. |
|
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 is one of
the key members of Oxyde Chemicals Group.
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.
Your given phone and
fax number 852-2122 9970 and 852-2122 9971 respectively belong to another
commercial service provider located at ‘Unit 617, 6/F., Nan Fung Commercial
Centre, 19 Lam Lok Street, Kowloon Bay, Kowloon, Hong Kong. The contact person is Mr. Fred Wong. His e-mail address is
fredwong@oxyde.com.hk. Fred Wong is an
employee of the commercial service provider.
Many companies are using the above-mentioned phone and fax number as
their contact point.
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, it is a
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:-
Chemicals — Glycols,
Solvents, Monomers, Aromatics, Fibre Intermediates, Organic Intermediates,
Inorganic Intermediates, solvents, etc.
Oxo‑Alcohols
Plasticizers, Organic Intermediates, Inorganics, etc.
Plastics — Vinyls,
Polypropylene, Polyethylene, Polystyrene, Engineering Plastics, etc.
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. Its main company in China is known as Oxyde
Chemicals Int’l Trade (Shanghai) Ltd.
The business of the Oxyde Chemicals Group in China has been expanding.
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 eight years and four 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.68 |
|
|
1 |
Rs.101.02 |
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Euro |
1 |
Rs.71.35 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.