MIRA
INFORM REPORT
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Report Date : |
14.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
QUALITY PHARMACEUTICAL LABORATORY LTD |
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Registered Office : |
Flat A-E 21FL Mai On Industrial Bldg, 17-21 Kung Yip St
Kwai Chung New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
January 25, 1990 |
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Com. Reg. No.: |
0270543 |
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Legal Form : |
Private |
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Line of Business : |
Manufacturing a wide range of medicinal products. Sales and distribution to local and international market. |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
Up To USD 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
QUALITY PHARMACEUTICAL LABORATORY LTD
FLAT A-E 21FL MAI ON INDUSTRIAL BLDG
17-21 KUNG YIP ST KWAI CHUNG NEW TERRITORIES, HONG KONG.
TEL : 852-24298412
FAX : 852-24872571
EXECUTIVE SUMMARY
INCORPORATION DATE : JANUARY
25, 1990
REGISTRATION NO. :
0270543
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
50
CAPITAL :
US$ 51,348
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 10,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78629 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M – million
HKD –Hong Kong Dollars
*Company Registration*
===================
(1)
License number : 0270543
Date issued : 25
January, 1990
Issuing authority : Companies
Registry
Type of license : Corporate
(2)
License number : 13343992-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Trading Name*
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Although the company is legally registered by the name listed above, it
is commonly known as QUALITY HEALTH PRODUCTS DEVELOPMENT CO under which it
operates locally.
*Capital Details*
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Authorized capital : HKD 400,000.00 divided into 4,000 ordinary shares
of HKD 100.00/-each, fully paid
*Office & Facilities*
================
Comment : Also occupies the Flat A-E 21Fl & Flat A-E 23Fl of the
building
*Corporate & Organization Structure*
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A family-owned and operated business.
*Registrar*
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WILLIE MANAGEMENT LTD
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
==================
Mr. Thomas Ting-fung Tsang can sign on behalf of the company with seal
affixed.
www.qplab.com.hk The design is
simple and the content is commonly organized. At present it is in both Chinese
and English versions.
E-mail: qpl@qplab.com.hk
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholders
: 2
Total number of ordinary shares : 4,000
Shareholders' Name
No. of Ordinary Shares Amount
of Shares (HKD) % of Shares
--------------------------
-------------------------------
----------------------------------
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Heung-yung Ma 2,040 204,000.00 51.00
Thomas Ting-fung Tsang
1,960
196,000.00
49.00
*Directors' Details*
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(1)
Heung-yung Ma
HKID no. : E316953(0)
Address : Flat B 21Fl Mai On
Industrial Bldg 17-21 Kung Yip St, Kwai Chung, New Territories, Hong Kong
(2)
Thomas Ting-fung Tsang
HKID no. : Z227427(3)
Address : Flat B 21Fl Mai On
Industrial Bldg 17-21 Kung Yip St, Kwai Chung, New Territories, Hong Kong
*Company Secretary*
=================
Heung-yung Ma
HKID no. : E316953(0)
Address : Flat B 21Fl Mai On
Industrial Bldg 17-21 Kung Yip St, Kwai Chung, New Territories, Hong Kong
SC’s management background details are not available at present.
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Manufacturing a wide range of medicinal products.
2. Sales and distribution to local and international market.
Products: Liquid medicine
Medical
capsules
Medicine
tablets
Medicines,
semi-solid forms
Pharmaceutical
products
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash or Credit
*Quality Certification*
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Type of certification : GMP Certification (Local)
Year of certification :
Mid-2003
*Local Distribution Network*
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Majority of the annual turnover is attributed to local sales to local hospitals,
clinics and dispensaries.
*Export Markets*
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Part of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES : 50
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the
payment pattern of SC based upon our Payment Database, comments from suppliers
of SC, information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL
amounts depending on individual judgement experience.
As a privately owned company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is
considered small-sized in its line with a long history. Taking into
consideration of SC’s general performance, a credit line up to USD 10,000 would
appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 2833 Medicinals
and botanicals
Exporting 2834 Pharmaceutical
preparations
Exporting 5122 Drugs/Druggists'
Sundries
Manufacturing 2833 Medicinals
and botanicals
Manufacturing 2834 Pharmaceutical
preparations
Manufacturing 5122 Drugs/Druggists'
Sundries
HARMONIZED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 3000 Pharmaceutical
products
Exporting 3003 Medicaments
of mixtures, not dosage etc form
Exporting 3004 Medicaments,
mixed or not, in dosage etc form
Manufacturing 3000 Pharmaceutical
products
Manufacturing 3003 Medicaments
of mixtures, not dosage etc form
Manufacturing 3004 Medicaments,
mixed or not, in dosage etc form
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Medicine
tablets
Manufacturer Medicines,
semi-solid forms
Manufacturer Liquid
medicine
Manufacturer Medical
capsules
Manufacturer Pharmaceutical
products
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)