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Report No. : |
345560 |
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Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
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Name : |
QUANTUM FERTILISERS LTD. |
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Registered Office : |
C/o Tricor Services Ltd. Level 54, Hopewell Centre, 183 Queen’s Road East |
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Country : |
Hong Kong
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Date of Incorporation : |
23.06.2008 |
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Com. Reg. No.: |
50844549 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Fertilizers, Chemicals. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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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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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 12.5% 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 |
Address: Room 2302A, 23/F.,
Great Eagle Centre,
23 Harbour
Road, Wanchai,
Hong Kong.
(Correspondence
Office)
And
C/o Tricor
Services Ltd.
Level 54, Hopewell Centre,
183 Queen’s Road East,
Hong Kong.
(Registered
Office)
QUANTUM
FERTILISERS LTD.
ADDRESS: Room 2302A, 23/F., Great
Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong
PHONE: 852-3105 2682
FAX: 852-3018 0735
MANAGEMENT:
Managing Director: Mr. Mohammad
Abdullah
Incorporated on: 23rd June, 2008.
Organization: Private Limited Company.
Issued Share Capital: US$2,850,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 5.
Main Dealing Banker: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
QUANTUM FERTILISERS
LTD.
Registered
Office:-
Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong.
Correspondence
Office:-
Room 2302A, 23/F., Great Eagle Centre, 23 Harbour Road, Wanchai, Hong
Kong.
Holding Company:-
Incitec Pivot Holdings (Hong Kong) Ltd., Hong Kong.
Ultimate Holding
Company:-
Incitec Pivot Ltd., Australia.
Associated
Companies:-
Amber Fertilisers (HK) Ltd., Hong Kong.
[Dissolved]
Amber Fertilisers Ltd., British Virgin Islands.
Quantum Fertilisers Ltd., British Virgin Islands.
Affiliated
Company:-
International Business Resources, Pakistan.
50844549
1249692
Managing Director: Mr. Mohammad
Abdullah
US$2,850,000.00 (Divided into 1,000,000 Class A shares and 1,850,000
Class B Non Voting shares of US$1.00 each)
(As per registry dated 23-06-2015)
|
Name |
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No. of shares |
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Class B Non Voting |
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Mohammad ABDULLAH |
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350,000 |
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Incitec Pivot Holdings (Hong Kong) Ltd., |
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650,000 |
1,850,000 |
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–––––––– |
–––––––– |
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Total: |
1,000,000 ======= |
1,850,000 ======= |
(As per registry dated 23-06-2015)
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Name (Nationality) |
Address |
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Mohammad ABDULLAH |
Flat 14A, Tower 1, Evelyn Tower, 38 Cloudview Road, Hong Kong. |
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Geoffrey Donald MCMURRAY |
85 Jumping Creek Road, Wonga Park, 3115, Australia. |
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Uri GORDON |
16 Mountview Street, Aspendale, Victoria 3195, Australia. |
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James Dean WHITESIDE |
12 Nott Street, Malvern East VIC 3145, Australia. |
(As per registry dated 23-06-2015)
|
Name |
Address |
Co. No. |
|
Tricor Corporate Secretary Ltd. |
Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong. |
0714799 |
The subject was incorporated on 23rd June, 2008 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Bosun Global
Ltd., name changed to Dynofert Ltd. on 6th August, 2008 and further to the
present style on 18th November, 2009.
The subject changed its registered address to ‘Level 54, Hopewell
Centre, 183 Queen’s Road East, Hong Kong’ where is the operating office of
Tricor Services Ltd. in early 2014.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Fertilizers,
chemicals.
Employees: 5.
Commodities Imported: India,
China, Thailand, other Asian countries.
Markets: Asian
countries, Australia.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P.
Issued Share Capital: US$2,850,000.00
(Divided into 1,000,000 Class A shares and 1,850,000 Class B
Non Voting shares of US$1.00 each)
Profit or Loss: Making
a small profit in Hong Kong.
Condition: Business
is normal.
Facilities: Adequate
for current running.
Payment: Slow but correct.
Commercial Morality: Satisfactory.
Banker: Standard Chartered Bank (Hong
Kong) Ltd., Hong Kong.
Standing: Small.
Having issued 1 million Class A shares of US$1.00 each, Quantum
Fertilisers Ltd. is jointly owned by Mr. Mohammad Abdullah, holding 35%
interests, and Incitec Pivot Holdings (Hong Kong) Ltd. [IPH], holding 65%. In turn, IPH is a subsidiary of Incitec Pivot
Ltd. [IPL], an Australia-based company.
It is a listed company in Australia.
IPL, Australia’s largest fertilizer producer, has purchased a majority
stake of 65% in the subject which was formed on 23rd June, 2008 in Hong
Kong.
The subject is a fertilizer trader.
It has had an associated company bearing the same name [Quantum
Fertilisers] which is registered in the British Virgin Islands. The subject and Quantum are engaged in the
same lines of business. The Chief
Operating Officer of Quantum is also Mohammad Abdullah who is residing in Hong
Kong.
Quantum Fertilisers is a trading subsidiary of IPL, the leading chemical
manufacturer supplying agricultural fertilisers and industrial chemicals for
Australian and overseas markets.
Now, Quantum Fertilisers has associated companies in Brazil, India,
Europe, Japan, etc. besides Hong Kong.
This relationship allows Quantum Fertilisers to offer its clients with
unique benefits, backed by strong financial support.
The subject is engaged in the following business scope:-
Quantum Fertilisers trades in the following fertilisers and raw
materials:
DAP, MAP, TSP, Urea, Ammonium Nitrate, Ammonium Sulphate, Sulphur,
Sulphuric Acid, Phosphoric Acid, NP/NPK (Various grades).
IPL, together with its subsidiaries, manufactures, trades in, and
distributes fertilizers, industrial explosives, and chemicals. It operates in Fertilisers and Explosives
segments. It offers a wide range of
fertilizer inputs and products, including ammonium phosphates, ammonia, urea,
sulphuric acid, and super phosphates; and various industrial chemical products
used in water treatment, process manufacturing and other industrial
applications; and ammonium nitrate for the mining industry.
IPL also builds detonators, nonel, detcord, cartridge explosives, and
boosters; and assembles the products for customer specifications to the mining,
quarry, construction, pipeline, and geophysical exploration industries. It operates primarily in Australia, the
United States, Canada, and Turkey. Incitec Pivot Limited is headquartered in
Southbank, Australia.
James Whiteside, IPL’s supply chain and trading manager, is Quantum
Fertilisers’ Melbourne-based CEO.
Mohammed Abdullah, who left his position as head of Transammonia’s Asian
and Southeast Asian operations in early 2009, became Quantum Fertilisers’ chief
operating officer working from Hong Kong.
According to Quantum Fertilisers, it has had offices in Switzerland and
Brazil and a presence in India, Europe, Japan.
The business of the subject in Hong Kong is chiefly handled by Mohammed
Abdullah himself. History in Hong Kong
is over seven years and three months.
On the whole, consider it good for normal business engagements in
moderate credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
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|
1 |
Rs.99.89 |
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Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.