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|
|
MIRA
INFORM REPORT
|
Report No. : |
491438 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BASF HONG KONG LIMITED |
|
|
|
|
Registered Office : |
45/F., Jardine
House, 1 Connaught Place, Central |
|
|
|
|
Country : |
Hongkong |
|
|
|
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Date of Incorporation : |
20.12.1977 |
|
|
|
|
Com. Reg. No.: |
00614211 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer,
Importer, Exporter and Wholesaler of Plastic Additives, Coating Effects, and
Water & Paper Treatment. |
|
|
|
|
No. of Employees : |
240. (Including
Associates) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
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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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 reexports, 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 continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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 aided a more rapid initial recovery 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 9.4% of total system deposits in Hong Kong by the end of 2015. 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. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% 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. 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 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.
Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 4.4% in 2014, but slowed to 2.9% in 2015. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities.
|
Source
: CIA |
Company Name and address
BASF HONG
KONG LIMITED
ADDRESS: 45/F., Jardine House, 1 Connaught
Place, Central, Hong Kong.
PHONE: 852-2731 0111, 852-2731 1222, 852-2731 1500
FAX: 852-2731 5631, 852-2734 9631
E-MAIL: basf@basf-china.com.hk
MANAGEMENT
Managing Director:
Mr. Johann Friedrich Ulrich
Boettger
SUMMARY
Incorporated on: 20th December, 1977.
Organization: Private Limited Company.
Issued Share Capital: HK$54,000,000.00
Business Category: Specialty
Chemicals Manufacturer and Trader.
Group Sales:-
(Year ended 31-12-2016)
€57,550 million (The BASF Group)
€12,165 million (Asia Pacific Region)
Company Employees:
240. (Including associates)
Group Employees: 114,000.
(As at 30-09-2017)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
ADDRESS
Registered Head
Office:-
45/F., Jardine House, 1 Connaught Place, Central, Hong
Kong.
Immediate Holding
Company:-
BASF East Asia Regional Headquarters Ltd., Hong Kong.
Ultimate Holding
Company:-
BASF SE (or known as BASF Societas Europaea)
Carl-Bosch-Strabe 38,
67056 Ludwigshafen, Germany.
[Tel: 49-621-60-0;
Fax: 49-621-60-42525]
Affiliated
Companies:-
BASF Group of Companies
Asia Pacific Region
Allied Colloids
(Asia) Ltd., Hong Kong.
BASF
(China) Co. Ltd., China.
BASF
(Malaysia) Sdn. Bhd., Malaysia.
BASF
(Thai) Ltd., Thailand.
BASF
Advanced Chemicals Co. Ltd., China.
BASF
Agricultural Specialties Pty. Ltd., Australia.
BASF
Asia-Pacific Service Centre Sdn. Bhd., Malaysia.
BASF
Australia Ltd., Australia.
BASF Bangladesh
Ltd., Bangladesh.
BASF
Battery Materials (Suzhou) Co. Ltd., China.
BASF
Care Chemicals (Shanghai) Co. Ltd., China.
BASF
Catalysts (Guilin) Co. Ltd., China.
BASF
Catalysts (Shanghai) Co. Ltd., China.
BASF
Catalysts India Pvt. Ltd., India.
BASF
Central Asia LLP, Kazakhstan.
BASF
Chemcat (Thailand) Ltd., Thailand.
BASF
Chemicals Co. Ltd., China.
BASF
Chemicals India Pvt. Ltd., India.
BASF
China Ltd., Hong Kong.
BASF Co.
Ltd., Korea.
BASF
Coatings (Guangdong) Co. Ltd., China.
BASF
Coatings + Inks Philippines Inc., Philippines.
BASF
Coatings International Trade (Shanghai) Co. Ltd., China.
BASF
Colors & Effects Japan Ltd., Japan.
BASF
Colors & Effects Korea Ltd., Korea.
BASF
Colors & Effects Shanghai Ltd., China.
BASF
Colors & Effects Singapore Pte. Ltd., Singapore.
BASF
Construction Chemicals (Beijing) Co. Ltd., China.
BASF
Construction Chemicals (China) Co. Ltd., China.
BASF
Construction Chemicals (Sichuan) Co. Ltd., China.
BASF
Construction Chemicals Ltd., Iraq.
BASF
Construction Systems (China) Co. Ltd., China.
BASF
Crop Protection (Jiangsu) Co. Ltd., China.
BASF
Electronic Materials (Shanghai) Co. Ltd., China.
BASF
Gao-Qiao Performance Chemicals (Shanghai) Co. Ltd., China.
BASF
Grameen Ltd., Bangladesh.
BASF
High Purity Electronic Chemicals Production, China.
BASF
HOCK Mining Chemical (China) Co. Ltd., China.
BASF
Idemitsu Co. Ltd., Japan.
BASF
India Ltd., India.
BASF
INOAC Polyurethanes Ltd., Japan.
BASF
Intertrade (Shanghai) Co. Ltd., China.
BASF
Japan Ltd., Japan.
BASF
Kaspian Yapi kimyasallari Sanayi mehud mesuliyyetli cemiyyeti, Azerbaijan.
BASF
Lanka (Pvt) Ltd., Sri Lanka.
BASF
Markor Chemical Manufacturing (Xinjiang) Co. Ltd., China.
BASF
Metals (Shanghai) Co. Ltd., China.
BASF
Metals Japan Ltd., Japan.
BASF
MPCC Co. Ltd., China.
BASF
Myanmar Ltd., Myanmar.
BASF New
Zealand Ltd., New Zealand.
BASF
Pakistan (Pvt) Ltd., Pakistan.
BASF
Paper Chemicals (Huizhou) Co. Ltd., China.
BASF
Paper Chemicals (Jiangsu) Co. Ltd., China.
BASF
Performance Products Ltd., China.
BASF
PETRONAS Chemicals Sdn. Bhd., Malaysia.
BASF
Philippines Inc., Philippines.
BASF
PJPC Neopentylglycol Co. Ltd., China.
BASF
Polyurethane Specialties (China) Co. Ltd., China.
BASF
Polyurethanes (China) Co. Ltd., China.
BASF
Polyurethanes (Chongqing) Co. Ltd., China.
BASF
Polyurethanes (Tianjin) Co. Ltd., China.
BASF
Qingdao Pigments Co. Ltd., China.
BASF See
Sen Sdn. Bhd., Malaysia.
BASF
Services (Malaysia) Sdn. Bhd., Malaysia.
BASF
Shanghai Coatings Co. Ltd., China.
BASF
South East Asia Pte. Ltd., Singapore.
BASF
Specialty Chemicals (Nanjing) Co. Ltd., China.
BASF
Taiwan Ltd., Taiwan.
BASF
TODA Battery Materials LLC, Japan.
BASF
Trading (Shanghai) Co. Ltd., China.
BASF
Vietnam Co. Ltd., Vietnam.
BASF
Vitamins Co. Ltd., China.
BASF-YPC
Co. Ltd., China.
Becker
Underwood Australia Pty. Ltd., Australia.
BNC
Color Techno Co. Ltd., Japan.
Changchun
Chemetall Chemicals Co. Ltd., China.
Chemetall
(Australasia) Pty. Ltd., Australia.
Chemetall
(Thailand) Co. Ltd., Thailand.
Chemetall
Asia Pte. Ltd., Singapore.
Chemetall
Hong Kong Ltd., Hong Kong.
Chemetall
India Pvt. Ltd., India.
Chemetall
New Zealand Ltd., New Zealand.
Chemetall
Philippines Co. Ltd. Inc., Philippines.
Chemetall
Surface Technologies China Co. Ltd., China.
Chemetall
Surface Treatment Holding Co. Ltd., Thailand.
Chongqing
Chemetall Surface Treatment Co. Ltd., China.
Ciba
(Australia) Pty. Ltd., Australia.
Cognis
Chemicals (HK) Ltd., Hong Kong.
Cognis
Chemicals Trade (Shanghai) Co. Ltd., China.
Doobon
Fine Chemical Co. Ltd., Korea.
Engelhard
(Shanghai) Co. Ltd., China.
Engelhard
China Ltd., China.
Eternal
Specialty Chemical (Zhuhai) Co. Ltd., China.
Foosung
Technologies (Nantong) Co. Ltd., China.
Foshan
Chemetall Surface Treatment Co., China.
Heesung
Catalysts Corporation, Korea.
Heesung
PMTech Corporation, Korea.
KOLON
BASF innoPOM Jushikheosa, Korea.
Markor
Meiou Chemical (Xinjiang) Co. Ltd., China.
N.E.
Chemcat Corporation, Japan.
Nanjing
Chemetall Surface Technologies Co. Ltd., China.
Nihon
Splice Sleeve Ltd., Japan.
Nisso
BASF Agro Co. Ltd., Japan.
P.T.
BASF Care Chemicals Indonesia, Indonesia.
P.T.
BASF Indonesia, Indonesia.
Pigment
Manufacturers of Australia Ltd., Australia.
Santoku
BASF Pte. Ltd., Singapore.
Shanghai
BASF Polyurethane Co. Ltd., China.
Shanghai
Chemetall Chemicals Co. Ltd., China.
Shanghai
Gaoqiao-BASF Dispersions Co. Ltd., China.
Shanghai
Lianheng Isocyanate Co. Ltd., China.
Shanghai
MBT & SCG High-Tech Construction Chemical Co. Ltd., China.
Taiko
Shoji Ltd., Japan.
Thai
Ethoxylate Co. Ltd., Thailand.
Toray
BASF PBT Resin Sdn. Bhd., Malaysia.
Yugen
Kaisha Sankyo Shoji, Japan.
etc.
BUSINESS REGISTRATION NUMBER
00614211
COMPANY FILE NUMBER
0057377
MANAGEMENT
Managing Director:
Mr. Johann Friedrich Ulrich Boettger
ISSUED SHARE CAPITAL
HK$54,000,000.00
SHAREHOLDER
(As per registry dated 20-12-2016)
|
Name |
|
No. of shares |
|
BASF East Asia Regional Headquarters Ltd., Hong Kong. |
|
54,000,000 ======== |
DIRECTORS
(As per registry dated 15-08-2017)
|
Name (Nationality) |
Address |
|
KI Wing Man, Teresa |
Flat C, 23/F., Tower 4, Les Saisons, 28 Tai On Street,
Sai Wan Ho, Hong Kong. |
|
Dr. Stephen KOTHRADE |
Building Fraser Suites, Unit 7282 No. 7, Lane 600,
Middle Yincheng Road, Shanghai 200120, China. |
|
Mirko BENGEL |
No. 418, Jinxiu East Road, Greenhills No. 247, Pudong
New District, Shanghai, China. |
|
Johann Friedrich Ulrich BOETTGER |
House H, Casa Del Sol, 33 Ching Sau Lane, Chung Hom
Kok, Hong Kong. |
|
Andrea FRENZEL |
Garden House No. 69, Headland Drive, Headland Village, Discovery
Bay City, Lantau Island, Hong Kong. |
SECRETARY
(As per registry dated 20-12-2016)
|
Name |
Address |
Co. No. |
|
Tricor Secretaries Ltd. |
Level 54, Hopewell Centre, 183 Queen’s Road East, Hong
Kong. |
0014900 |
HISTORY
The subject was
incorporated on 20th December, 1977 as a private limited liability company
under the Hong Kong Companies Ordinance.
Originally the
subject was registered under the name of Ciba-Geigy (Hong Kong) Ltd., name
changed to Ciba Specialty Chemicals (Hong Kong) Ltd. on 15th January, 1997, to
Ciba (Hong Kong) Ltd. on 26th July, 2007, and further to the present style on
28th December, 2009.
Formerly the
registered head office was located at 13/F., Warwick House, Taikoo Place, 979
King’s Road, Quarry Bay, Hong Kong, moved to combine with its laboratory and
godown at 61-69 Yau Ma Hom Road, Kwai Chung, New Territories, Hong Kong in
August 1998. In November 2005, the
registered office was relocated at Suite 1104-1106, 11/F., Tower 2,
The Gateway, Harbour City, 25 Canton Road, Tsimshatsui, Kowloon,
Hong Kong, and subsequently to the present address in January 2010.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Manufacturer, Importer, Exporter and
Wholesaler.
Lines: Plastic additives,
coating effects, and water & paper treatment, etc.
Company Employees: 240. (Including associates)
Group Employees: 114,000. (As at 30-09-2017)
Materials/Commodities: Imported
from Europe, Israel, etc.
Markets: Hong Kong (main), China, Europe,
etc.
Group Sales:-
|
FY/Period |
The BASF Group |
Asia Pacific Region |
|
Year ended 31-12-2012 |
€72,129 million |
€11,694 million |
|
Year ended 31-12-2013 |
€73,973 million |
€11,679 million |
|
Year ended 31-12-2014 |
€74,326 million |
€11,643 million |
|
Year ended 31-12-2015 |
€70,449 million |
€11,712 million |
|
Year ended 31-12-2016 |
€57,550 million |
€11,512 million |
|
9 months ended 30-09-2016 |
€42,704 million |
€ 8,225 million |
|
9 months ended 30-09-2017 |
€48,376 million |
€10,042 million |
Terms/Sales: On various terms.
Terms/Buying: As per contracted.
GOVERNMENT CONTRACT AWARDED SINCE 1999
|
Date |
GN
No. |
Particulars |
Amount |
|
28-05-1999 |
GN3001 |
Supply of polyelectrolyte (Type I) |
HK$4,338,880 F.I.S./Hong Kong with ±20% variation (not
exceeding HK$5,206,656) |
|
26-10-2001 |
GN6719 |
Supply of anionic polymer |
HK$901,120 F.I.S./Hong Kong with ±30% variation (not
exceeding HK$1,171,456) |
|
27-10-2006 |
GN6881 |
Supply of cationic polymer |
US$2,565,000 (F.I.S./Hong Kong) |
|
27-10-2006 |
GN6881 |
Supply of polyelectrolyte (Type IV) |
HK$6,807,500 (F.I.S./Hong Kong) |
|
30-09-2010 |
GN6287 |
Supply of polyelectrolyte (Type IV) |
HK$7,047,000 (F.I.S./Hong Kong) |
|
26-06-2015 |
GN4717 |
Supply of polyelectrolyte (Type IV) to the Drainage
Services Department |
HK$13,920,000 (F.I.S./Hong Kong) |
FINANCIAL INFORMATION
Issued Share Capital: HK$54,000,000.00
Group Operating Income:-
|
FY/Period |
The BASF Group |
Asia Pacific Region |
||
|
Year ended 31-12-2012 |
€6,742 million |
€ 888 million |
||
|
Year ended 31-12-2013 |
€7,160 million |
€ 842 million |
||
|
Year ended 31-12-2014 |
€7,626 million |
€ 614 million |
||
|
Year ended 31-12-2015 |
€6,248 million |
€ 445 million |
||
|
Year ended 31-12-2016 |
€6,275 million |
€1,098 million |
||
|
9 months ended 30-09-2016 |
€5,048 million |
€ 681 million |
|
|
|
9 months ended 30-09-2017 |
€6,590 million |
€1,630 million |
|
|
Profit or Loss: Operation is profitable.
Condition: Keeping in an active manner.
Facilities: Making active use of general
banking facilities.
Payment: Reliable.
Commercial Morality: Good.
Bankers:-
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Calyon Corporate
& Investment Bank, Hong Kong Branch.
Deutsche Bank AG,
Hong Kong Branch.
Standing: Very Good.
GENERAL
BASF Hong Kong
Limited [BHKL], incorporated in December 1977, was originally registered as
Ciba-Geigy (Hong Kong) Ltd. [CGHK].
CGHK was a merger of
Ciba and Geigy, two businesses established in Hong Kong in 1947 and 1946
respectively. In 1996, CGHK and Sandoz
were merged; Ciba-Geigy’s industrial divisions spun off to form a specialty
chemical firm - Ciba Specialty Chemicals.
On 15th January, 1997, CGHK was renamed as Ciba Specialty Chemicals
(Hong Kong) Ltd. [CSCHK].
CSCHK was a member of
the Ciba Group. Ciba Holding AG [Ciba
Holding] was the ultimate holding company of Group. Its shares were listed on the SIX Swiss
Exchange, traded on SWX Europe, and its American Depositary Shares traded on
the New York Stock Exchange until 20th July, 2007. Ciba Holding was a global leader in the
discovery and manufacture of innovative specialty chemicals that provide
colour, performance and care for plastics, coatings, paper and other
products. Its products and services were
also used to provide clean water and to treat water streams in industrial and
municipal applications.
CSCHK was a specialty
chemicals manufacturer and trader.
Employing 200 persons and having a laboratory area of 10,000 sq.ft.,
CSCHK was engaged in manufacturing PC boards, multi-layer PCBs, ICs and other
specialty chemicals. CSCHK also imported
and wholesaled specialty chemicals such as additives, colours, consumer care
and performance polymers, etc. Having a
long history and getting a firm foothold in Hong Kong, CSCHK’s business had
been good. On 26th July, 2007, CSCHK
changed its name to Ciba (Hong Kong) Ltd. [Ciba HK].
On 15th September,
2008, BASF SE (or known as BASF Societas Europaea) [BASF] made a public tender
offer to acquire all publicly held shares in Ciba Holding at a price of CHF 50
in cash per share. The offer was
accepted by shareholders in November 2008, and 94.59% of the company’s shares
were acquired by BASF. On 9th April,
2009, BASF completed the acquisition of Ciba Holding. The purchase price was €2,178 million.
Following the
acquisition, Ciba HK became a member of the BASF Group. Subsequently, the name of Ciba HK has been
changed to BHKL which is the present style on 28th December, 2009.
Presently, BASF’s
worldwide business is managed by operating divisions that have been aggregated into
5 segments since 2013: Chemicals, Performance Products, Functional Solutions,
Agricultural Solutions, Oil & Gas.
Chemicals
In the Chemicals
segment, the Group supplies products to customers in the chemical, electronics,
construction, textile, automotive, pharmaceutical and agricultural industries
as well as many others.
Performance Products
Performance Products
lend stability and colour to countless everyday items and help to improve their
application profile. Its product
portfolio includes vitamins and food additives as well as ingredients for
pharmaceuticals and for hygiene, home and personal care items.
Functional Materials
& Solutions
In the Functional
Materials & Solutions segment, the Group bundles system solutions, services
and innovative products for specific sectors and customers, in particular for
the automotive, electrical, chemical and construction industries as well as for
household appliances, sports and leisure products.
Agricultural
Solutions
Crop protection
products guard against fungal diseases, insects and weeds, increase the quality
of agricultural products and secure crop yields. Its research in plant biotechnology
concentrates on plants for greater efficiency in agriculture, better nutrition,
and use as renewable raw materials.
Oil & Gas
As the largest German
producer of oil and gas, the Group focuses its exploration and production on
oil- and gas-rich regions in Europe, North Africa, South America, Russia and
the Caspian Sea region. Together with its
Russian partner Gazprom, it is active in the transport, storage and trading in
natural gas in Europe.
Other
Activities not
assigned to a particular division are under this segment.
BASF has expanded its
Pudong site in Shanghai, China. In
December 2010, ground was broken on a new Innovation Campus for the Asia
Pacific region which was opened in 2012.
Now, the business of China is administered by Mr. Albert Gerhard Heuser.
In order to serve the
growing market of western China, BASF has built a large MDI plant in Chongqing,
China. The plant has an annual
production capacity of 400,000 tons. The
project broke ground in April 2011, and commercial operation began in mid-2014.
BASF currently has
subsidiaries in 80 countries. In Greater
China it has maintained a number of sales offices, for example in Hong Kong
(the subject BHKL), Beijing, Shanghai, Guangzhou, Nanjing, Qingdao and
Taipei. BASF’s business in Greater China
includes products such as petrochemicals, inorganics, polymer dispersions,
polyurethanes, engineering plastics, coatings, finishing products for the
textile and leather industries, electronic materials, intermediates, catalysts,
construction chemicals, paper chemicals and care chemicals.
For the year ended
31st December, 2016, the sales of the Group amounted to €57.5 billion,
decreased by 18.0% as compared with €70.4 billion in FY 2015; income from
operation [EBIT] was €6.3 billion, increased by 1.6% as compared with €6.2
billion in FY 2015.
In 2016, the Group
generated 43% of its sales (excluding Oil & Gas) with customers in
Europe. In addition, 26% of sales were
generated in North America; 22% in Asia Pacific; and 9% in South America,
Africa, and the Middle East.
For the 9 months
ended 30th September, 2017, the sales of the Group amounted to €48.4 billion,
increased by 13.3% as compared with €42.7 billion in the same period of
FY 2016; income from operation [EBIT] was €6.6 billion, increased by 32.0%
as compared with €5.0 billion in the same period of FY 2016. The increase in sales was attributable to
good volumes development as well as significantly higher sales prices in the
Chemical segment. Sales were also lifted
by the Chemetall business, acquired in December 2016. All segments recorded slightly negative
currency effects.
For the 9 months
ended 30th September, 2017, the Group had 114,000 employees.
The history of BHKL
in Hong Kong is about 40 years.
On the whole, in view
of the parentage of BHKL, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.16 |
|
|
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
|
HKD |
1 |
INR 8.23 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.