3decades

MIRA INFORM REPORT

Report No. :	497158
Report Date :	17.03.2018

IDENTIFICATION DETAILS

Name :	ICHEMICALS LLP

Office Address :	101 Rose street South Lane, Edinburgh, Scotland, EH2 3JG

Country :	Lithuania

Date of Incorporation :	2011

Legal Form :	Filialas (Branch by Lithuanian Law)

Line of Business :	Wholesale Trade- Durable Goods

No. of Employees :	4

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Medium High Risk

Business dealings permissible preferably on secured basis

Status :	Branch of A Foreign Registered Company

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

(30.09.2017)

Current Rating

(31.12.2017)

Lithuania

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

LITHUANIA - ECONOMIC OVERVIEW

After the country declared independence from the Soviet Union in 1990, Lithuania faced an initial dislocation that is typical during transitions from a planned economy to a free-market economy. Macroeconomic stabilization policies, including privatization of most state-owned enterprises, and a strong commitment to a currency board arrangement led to an open and rapidly growing economy and rising consumer demand. Foreign investment and EU funding aided in the transition. Lithuania joined the WTO in May 2001, the EU in May 2004, and the euro zone in January 2015, and is now working to complete the OECD accession roadmap it received in July 2015. In 2017, joined the OECD Working Group on Bribery, an important step in the OECD accession process.

The Lithuanian economy was severely hit by the 2008-09 global financial crisis, but it has rebounded and become one of the fastest growing in the EU. Increases in exports, investment, and wage growth that supported consumption helped the economy grow by 3.6% in 2017. In 2015, Russia was Lithuania’s largest trading partner, followed by Poland, Germany, and Latvia; goods and services trade between the US and Lithuania totaled $2.2 billion. Lithuania opened a self-financed liquefied natural gas terminal in January 2015, providing the first non-Russian supply of natural gas to the Baltic States and reducing Lithuania’s dependence on Russian gas from 100% to approximately 30% in 2016.

Lithuania’s ongoing recovery hinges on improving the business environment, especially by liberalizing labor laws, and improving competitiveness and export growth, the latter hampered by economic slowdowns in the EU and Russia. In addition, a steady outflow of young and highly educated people is causing a shortage of skilled labor, which, combined with a rapidly aging population, could stress public finances and constrain long-term growth.

Source : CIA

Identification

Full Name

ICHEMICALS LLP

Name in English

ICHEMICALS LLP

Name in national language

ICHEMICALS LLP

Office Address

Birutes g. 16A, Klaipeda, Klaipeda region, Klaipeda city municipality, LT-91210, Lithuania

Legal Address

101 Rose street South Lane, Edinburgh, Scotland, EH2 3JG, United Kingdom

Other Addresses

office:
previous address
Minijos str. 49, Klaipeda, Klaipeda region, Klaipeda city municipality, LT-91208, Lithuania

( the data as of 29.02.2016, cancelled since 09.03.2018 )

legal:
previous address
84 Park Road, Rosyth, Scotland KY11 2JL, United Kingdom

( the data as of 29.02.2016, cancelled since 09.03.2018 )

Contacts

-	Phone	:	(+370 46) 368244
-	mobile tel.	:	(+370 699) 58471
-	Fax	:	(+370 46) 368165
-	E-mail	:	info@ichemicals.eu
-	WWW	:	http://www.ichemicals.eu/

SUMMARY

Legal Form : Filialas (Branch by Lithuanian law)

Incorporation : 2011

Staff : 4

Litigation events : n/a
Remarks on payments : n/a

Sales : n/a

Incorporation

2011

Registration Data

n/a

Date of registration

01.12.2013

VAT number

LT100008181012

Registr. authority

Tax Board (Klaipeda, Klaipeda region, Klaipeda city municipality, Lithuania)

Other Code

9000165599

Registr. authority

Tax Board (Klaipeda, Klaipeda region, Klaipeda city municipality, Lithuania)

Taxpayer identification number

Legal Form

Filialas (Branch by Lithuanian law)		since n/a

Share Capital

No share capital is required referring to the legal status of the company.

Shareholders

-	ICHEMICALS LLP (United Kingdom)				100.00 %
		reg. number	:	SO303507

Board / Executives

Executives

General Director

Mr Vitalij Rudstein (Israel)

vitalij@ichemicals.eu

Manager

Mr Rolandas Povilaitis (Lithuania)

rolandas@ichemicals.eu, (+370 46) 368244

Authorised signature

Mr Vitalij Rudstein

Activities

-	50	Wholesale Trade- Durable Goods
		(5190 / NACE_1.1: Other wholesale)
		(4670 / NACE_2: Other specialized wholesale)

Worldwide sales of the antioxidants and synthetic rubbers.

Staff employed

4

Staff History

-	A: 1-4
	( the data as of 29.02.2016 )

Subsidiaries and Participation

n/a

Bankers

n/a

Clients

-	ALPG Medical srl (ITALY)

-	Conbelts S.A. (Poland)

-	Mitas (Czech Republic)

Suppliers

-	JSC "Sterlitamak Petrochemical Plant" (Russian Federation)
	( the data as of 29.02.2016 )

-	JSC "Synthez-Kauchuk" (Russian Federation)
	( the data as of 29.02.2016 )

Other associated Companies

-	MLCH UAB (Lithuania)
	address	:	Minijos str. 49, Klaipeda, Klaipeda region, Klaipeda city municipality, LT-91208, Lithuania
	reg. number	:	300637861
	( the data as of 29.02.2016 )

Financial Elements

As ICHEMICALS LLP is registered in United Kingdom therefore financial accounts and more detailed information is available only in UK. Branches do not prepare separate financial accounts, and no share capital is required.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.87
UK Pound	1	INR 90.49
Euro	1	INR 79.91
Euro	1	INR 80.02

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

INFORMATION DETAILS

Analysis Done by :	VAR

Report Prepared by :	TPT

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.