MIRA INFORM REPORT

 

 

Report No. :

349543

Report Date :

17.11.2015

 

IDENTIFICATION DETAILS

 

Name :

IRPC-PCC COMPANY LIMITED

 

 

Registered Office :

7th  Floor,  Energy  Complex  Building  B, 555/2  Vibhavadi-Rangsit  Road, Chatuchak,  Bangkok  10900

 

 

Country :

Thailand

 

 

Date of Incorporation :

25.02.2015

 

 

Com. Reg. No.:

0105558035543

 

 

Legal Form :

Private  Limited  Company

 

 

Line of Business :

Subject  aims  to  operate  as  a  distributor  of  petrochemicals,  mainly  as  polyurethane  and  polyols.

 

 

No. of Employee :

4

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New business

 

 

Payment Behaviour :

Unknown

 

 

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)

Thailand

B1

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

THAILAND ECONOMIC OVERVIEW

 

With a well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies Thailand has historically had a strong economy due in part to competitive industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. The economy experienced slow growth and declining exports in 2014, in part due to domestic political turmoil and sluggish global demand. With full employment, Thailand attracts an estimated 2-4 million migrant workers from neighboring countries, and faces labor shortages. Following the May 2014 coup d'etat, tourism decreased 6-7% but is beginning to recover. The household debt to GDP ratio is over 80%. 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 baht has remained stable.

 

Source : CIA

 

 

Company name

 

IRPC-PCC COMPANY LIMITED

 

 

SUMMARY

 

BUSINESS  ADDRESS                          :           7th  FLOOR,  ENERGY  COMPLEX  BUILDING  B,

                                                                        555/2  VIBHAVADI-RANGSIT  ROAD, 

CHATUCHAK,  BANGKOK  10900,  THAILAND

TELEPHONE                                        :           [66]   2649-6883,  2649-7000

FAX                                                      :           [66]   2646-6677

E-MAIL  ADDRESS                               :           -

REGISTRATION  ADDRESS                  :           SAME  AS  BUSINESS  ADDRESS

 

ESTABLISHED                                    :           2015

REGISTRATION  NO.                           :           0105558035543

TAX  ID  NO.                                         :           3036906599

CAPITAL REGISTERED                        :           BHT.   10,000,000

CAPITAL PAID-UP                                :           BHT.   10,000,000

SHAREHOLDER’S  PROPORTION        :           THAI          :    50.00%

                                                                        POLISH                 :    50.00%

FISCAL YEAR CLOSING DATE             :           -            

LEGAL  STATUS                                  :           PRIVATE  LIMITED  COMPANY

EXECUTIVE                                         :           MR. WALDEMAR  FRANZ  PREUSSNER,  DUTCH

                                                                        GENERAL  MANAGER 

 

NO.  OF  STAFF                                   :           4

LINES  OF  BUSINESS                         :           PETROCHEMICALS

                                                                        DISTRIBUTOR  AND  EXPORTER

 

                                                             

CORPORATE  PROFILE

 

OPERATING  TREND                            :           EARLY  STAGE                       

             

 

HISTORY

 

The  subject  was  established  on February  25,  2015  as  a  private  limited  company  under  the  registered  name IRPC-PCC  COMPANY  LIMITED, by  Thai  and  Polish groups,  with  the  business  objective  to  distribute  petrochemicals  to  both   domestic and  international  markets.  It  currently  employs  4  staff. 

 

The subject  is  a  joint  venture  between  IRPC  Polyol  Co.,  Ltd.,  Thailand  and PCC  Rokita  SA.,  Poland,  with  holding  around 50%  and  50%  of  the  subject’s shares  respectively.

 

The  subject’s  registered  address  is  7th  Floor,  Energy  Complex  Building B,  555/2 Vibhavadi-Rangsit Road, Chatuchak, Bangkok 10900,  and  this  is  the  subject’s current  operation  address.  

 

 

THE BOARD OF DIRECTOR

 

     Name

 

Nationality

Age

 

 

 

 

Mr. Sukrit  Surabotsopon

[x]

Thai

56

Ms. Duangkamol  Settanung

[x]

Thai

55

Mr. Somkiat  Lertritpuwadol

[x]

Thai

52

Mr. Boondej  Phuriyakorn

[x]

Thai

59

Mr. Waldemar  Franz  Preussner

 

Dutch

56

Mr. Sergiusz  Petri  Stefanowski

 

Polish

37

Mr. Grzegorz  Dolbniak

 

Polish

41

Mr. Rafal  Zdon

 

Polish

41

 

 

AUTHORIZED PERSON

 

One  of  the  mentioned directors  [x]  can  jointly  sign  with  anyone  of  the  rest  directors  on  behalf  of  the  subject  with  company’s  affixed.

 

 

MANAGEMENT

 

Mr.  Waldemar  Franz  Preussner   is  the  General  Manager.

He  is  Dutch  nationality  with  the  age  of  56  years  old.  

 

 

BUSINESS OPERATIONS

 

The  subject  aims  to  operate  as  a  distributor  of  petrochemicals,  mainly  as  polyurethane  and  polyols.  Its  operation  will  be  officially  operated  in  December  2015.

 

 

PURCHASE

 

100%  of  the  products  is  purchased  from  local  suppliers.

 

 

MAJOR SUPPLIER

 

IRPC  Public  Company  Limited            :  Thailand

 

 

SALES 

 

100%  of  the  products  is  sold  locally  to  wholesalers,  manufacturers  and  end-users.

 

 

SUBSIDIARY AND AFFILIATED COMPANY

 

The  subject  is  not  found  to  have  any  subsidiary  or  affiliated  company  here  in  Thailand.

 

 

LITIGATION

 

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  according  to  the  past  two  years.

 

 

CREDIT  

 

N/A

 

 

BANKING

 

N/A

 

 

EMPLOYMENT

 

The  subject  currently  employs  4  staff.  

 

 

LOCATION DETAILS

 

The  premise  is  rented for  administrative  office  at  the  heading  address.  Premise  is  located  in  commercial/residential  area.

 

 

COMMENT

 

The   subject  has not  yet  started  its  operation  at  a  time  being,  as  well  as  it  is  a  newly  established  company,   therefore  any  business  engagement  should  be   on  secured  basis  only.

 

 

FINANCIAL INFORMATION

 

The  capital  was  registered  at  Bht. 10,000,000  divided  into  1,000,000  shares  of  Bht.  10     each  with  fully  paid.

 

 

THE SHAREHOLDERS LISTED WERE

 

[as  at February  23,  2015]

 

       NAME

HOLDING

%

 

 

 

PCC  Rokita  SA.

Nationality:  Polish

Address     :  7th  Floor,  Energy  Complex  Building  B, 

                     555/2  Vibhavadi-Rangsit  Road,  Chatuchak,

                     Bangkok

499,999

50.00

IRPC  Polyol  Co.,  Ltd.

Nationality:  Thai

Address     :  7th  Floor,  Energy  Complex  Building  B, 

                     555/2  Vibhavadi-Rangsit  Road,  Chatuchak,

                     Bangkok

499,998

50.00

Mr. Sukrit  Surabotsopon

Nationality:  Thai

Address     :  10th  Floor,  Energy  Complex  Building  B, 

                     555/2  Vibhavadi-Rangsit  Road,  Chatuchak,

                     Bangkok

         1

-

Mr. Waldemar  Franz  Preussner  

Nationality:  Dutch

Address     : 7th  Floor,  Energy  Complex  Building  B, 

                     555/2  Vibhavadi-Rangsit  Road,  Chatuchak,

                     Bangkok

         1

-

Mr. Boondej  Phuriyakorn

Nationality:  Thai

Address     :  7th  Floor,  Energy  Complex  Building  B, 

                     555/2  Vibhavadi-Rangsit  Road,  Chatuchak,

                     Bangkok

         1

-

 

Total  Shareholders  :   5

 

Share  Structure  [as  at  February  23,  2015]

 

Nationality

Shareholders

No. of  Share

% Shares

 

 

 

 

Thai

3

500,000

50.00

Foreign

2

500,000

50.00

 

Total

 

5

 

1,000,000

 

100.00

 

 

NOTE

 

Due  to  the  subject   has  just  been  established  in  February  2015,  therefore  financial  statement  has  not  yet  available  during  investigation.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.17

UK Pound

1

Rs.100.66

Euro

1

Rs.70.97

 

 

INFORMATION DETAILS

 

Analysis Done by :

HNA

 

 

Report Prepared by :

ANK

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.