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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

484304

Report Date :

04.01.2018

 

IDENTIFICATION DETAILS

 

Name :

AKZO  NOBEL  CHEMICALS  (THAILAND)  LIMITED

 

 

Registered Office :

Unit  903,  9th  floor,  rsu  tower,571  soi  sukhumvit  31,  sukhumvit  road, klongtonnua,  wattana,  bangkok  10110

 

 

Country :

Thailand

 

 

Date of Incorporation :

04.08.2017

 

 

Com. Reg. No.:

0105560129002

 

 

Legal Form :

Private  Limited  Company

 

 

Line of Business :

The  subject  aims  to  operate  as  a  manufacturer  and  distributor  of   based chemicals  for  various   industries.   Since  its  establishment  in  August  2017,  it  has  not  started  any  commercial  business  activity  yet. 

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

NB

 

Credit Rating

Explanation

Rating Comments

NB

New Business

No recommendation can be done due to business in infancy stage

 

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

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Thailand

A2

A2

 

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

 

 

THAILAND - ECONOMIC OVERVIEW

 

With a relatively well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, Thailand is highly dependent on international trade, with exports accounting for about two-thirds of GDP. Thailand’s exports include electronics, agricultural commodities, automobiles and parts, and processed foods. The industry and service sectors produce about 90% of GDP. The agricultural sector, comprised mostly of small-scale farms, contributes only 10% of GDP but employs about one-third of the labor force. Thailand has attracted an estimated 3.0-4.5 million migrant workers, mostly from neighboring countries.

Over the last few decades, Thailand has sustained strong growth and has reduced poverty substantially. In 2013, the Thai Government implemented a nationwide 300 baht (roughly $10) per day minimum wage policy and deployed new tax reforms designed to lower rates on middle-income earners.

Growth has slowed in the last few years, however, due to domestic political turmoil and sluggish global demand. Nevertheless, Thailand’s economic fundamentals are sound, with low inflation, low unemployment, and reasonable public and external debt levels. Tourism and government spending - mostly on infrastructure and short-term stimulus measures – have helped to boost the economy, and The Bank of Thailand has been supportive, with several interest rate reductions.

Over the longer-term, Thailand faces labor shortages, and domestic debt levels, political uncertainty, and an aging population pose risks to growth

 

Source : CIA

 

AKZO  NOBEL  CHEMICALS  (THAILAND)  LIMITED

 

SUMMARY

 

BUSINESS  ADDRESS                          :           UNIT  903,  9th  FLOOR,  RSU  TOWER,

                                                                        571  SOI  SUKHUMVIT  31,  SUKHUMVIT  ROAD,

                                                                        KLONGTONNUA,  WATTANA,  BANGKOK  10110,

                                                                        THAILAND

TELEPHONE                                        :           [66]   089  816-7007

FAX                                                      :           -  

E-MAIL  ADDRESS                               :           -

REGISTRATION  ADDRESS                  :           SAME  AS  BUSINESS  ADDRESS

 

ESTABLISHED                        :           2017

REGISTRATION  NO.                           :           0105560129002

TAX  ID  NO.                                         :           3038545185

CAPITAL REGISTERED                        :           BHT.   120,000,000

CAPITAL PAID-UP                                :           BHT.   120,000,000

SHAREHOLDER’S  PROPORTION        :           DUTCH    :   100%

FISCAL YEAR CLOSING DATE             :           -            

LEGAL  STATUS                                  :           PRIVATE  LIMITED  COMPANY

EXECUTIVE                                         :           MR.  RONACHAI  PRASERTKANCHANA, THAI

                                                                        PROJECT  DIRECTOR

 

NO.  OF  STAFF                                   :           -

LINES  OF  BUSINESS                         :           INDUSTRIAL  CHEMICALS

                                                                        MANUFACTURER

                                                                         

 

 

CORPORATE  PROFILE

 

OPERATING  TREND                            :           EARLY  STAGE                       

             

 

HISTORY

 

The  subject  was  established  on  August  4,  2017  as  a  private  limited  company  under  the  registered  name   AKZO  NOBEL  CHEMICALS  (THAILAND)  LIMITED  by  Dutch groups,  with  the  business  objective  to  manufacture  industrial  chemicals.  However,  the  construction  of  the  plant  has  not  yet  been  started.

 

The  subject  is  a  wholly  owned  subsidiary  of  Akzo  Nobel Chemicals   International  B.V.,  in  Netherlands.

 

The  subject’s  registered  address  was  initially  at  22nd  Floor,  Mercury  Tower, 

540  Ploenchit  Road,  Lumpini,  Pathumwan,  Bangkok  10330.

 

On  October  2,  2017,  its  registered  address  was  relocated  to  Unit  903,  9th  Floor, 

RSU  Tower, 571 Soi Sukhumvit 31,  Sukhumvit  Road,  Klongtonnua,  Wattana, Bangkok  10110,  and  this  is  the  subject’s  current  operation  address.  

THE  BOARD  OF  DIRECTOR

 

     Name

 

Nationality

Age

 

 

 

 

Mr. Ronachai  Prasertkanchana

 

Thai

51

Mr. Suwit  Trakarnsrisunan

 

Thai

44

 

AUTHORIZED  PERSON

 

Both  of  the  above  directors  can  jointly  sign  on  behalf  of  the  subject  with  company’s  affixed.

 

MANAGEMENT

 

Mr. Ronachai  Prasertkanchana   is  the  Project  Director.

He  is  Thai  nationality  with  the  age  of   51  years  old.  

 

BUSINESS  OPERATIONS

 

The  subject  aims  to  operate  as  a  manufacturer  and  distributor  of   based chemicals  for  various   industries.   Since  its  establishment  in  August  2017,  it  has  not  started  any  commercial  business  activity  yet. 

 

LOCATION  DETAILS

 

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

 

 

COMMENT

 

The  subject  is  a  newly  established  firm.  So  far,  it  has  not  started  any  commercial  business  activity  yet.  There  is  no  employment  or   commencement  of  the  plant’s  construction  for  a time  being.   Due  to  this,  maximum  credit  is  not  recommended.

 

FINANCIAL  INFORMATION

 

The  capital  was  registered  at  Bht. 1,000,000   divided  into  1,000  shares  of  Bht.  1,000   

each  with  fully  paid.

 

On  October  3,  2017,  the  registered  capital  was  increased  to  Bht.  120,000,000  divided 

into  120,000  shares  of  Bht. 1,000  each  with  fully  paid.

 

THE  SHAREHOLDERS  LISTED  WERE  :  [as  at  October  3,  2017]

 

       NAME

HOLDING

%

 

 

 

Akzo  Nobel  Chemicals  International  B.V.

Nationality:  Dutch

Address     :  Velperweg  76,  Arnhem  6824  BM,

                    Netherlands 

119,998

100.00

Bergerode  B.V.

Nationality:  Dutch

Address     :  Velperweg  76,  Arnhem  6824  BM,

                    Netherlands 

          1

-

Akzo  Nobel  Chemicals  Holding  B.V.

Nationality:  Dutch

Address     :  Christian  Neefestraat  2, 

                    1077  Ww  Amsterdam,  PO  Box.  75730, 

                    1070  AS  Amsterdam,  The  Netherlands

          1

-

 

Total  Shareholders  :    3

 

Share  Structure  [as  at  October  3,  2017]

 

Nationality

Shareholders

No. of  Share

% Shares

 

 

 

 

Thai

-

-

-

Foreign - Dutch

3

120,000

100.00

 

Total

 

3

 

120,000

 

100.00

 

Note:

 

Due  to  the  subject’s  establishment  in  August  2017,  financial  statement  is  not  available.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.48

UK Pound

1

INR 86.41

Euro

1

INR 76.54

THB

1

INR 1.97

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

KET

                                                


 

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)

 

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.