%20LTD%2020-Mar-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SYNCO (HK) LTD |
|
|
|
|
Registered Office : |
Flat D 3FL Sunview Industrial Bldg 3 On Yip St Chai Wan |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
09.10.1968 |
|
|
|
|
Com. Reg. No.: |
0016123 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture of wide range of Western pharmaceutical products. Sales and distribution of manufactured products to local and
international markets |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
Litigation : |
Clear |
name & address
SYNCO
(HK) LTD
FLAT D 3FL SUNVIEW INDUSTRIAL BLDG
3 ON YIP ST CHAI WAN, HONG KONG
TEL: 852-25560157 FAX: 852-28972582
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 9, 1968
REGISTRATION NO. :
0016123
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. DEREK KWONG-YIP SUM (CHAIRMAN)
STAFF STRENGTH :
75
CAPITAL :
US$ 128,370
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 150,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.76517 = 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
%20LTD%2020-Mar-2008_files/image003.gif){kind=small}
*Company Name*
=============
Incorporated as : SYNCO (HK) LTD
Date of incorporation : 9
October, 1968
Changed name to : SAN
JIU SYNCO PHARMACEUTICAL LTD
Date of change : 8 December, 1992
Changed name to : SYNCO (HK) LTD
Date of change : 21 October, 1993
*Company Registration*
===================
(1)
License number : 0016123
Date issued : 9 October, 1968
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 02545054-000
Date issued : N/A
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Licenses & Permits*
=================
(1)
License number : 56319
Issuing authority : Department of Health
Type of license : License for Lainacosin Capsule
(2)
License number : 56321
Issuing authority : Department of Health
Type of license : License for Milancosin Capsule
*Capital Details*
=============
Share value : HKD 100.00/-each
Authorized capital : HKD
1,000,000.00
Paid-up capital : HKD 700,000 divided into 7,000
ordinary shares
*Office & Facilities*
===============
Other Contact Details
-----------------------------
E-mail : jaby@synco.com.hk
Website : www.synco-pharma.com
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
===================
Only Mr. Derek Kwong-yip Sum can sign on behalf of the company with seal
affixed.
*Registrar*
=========
SHUM LAW CORPORATE SERVICES LTD
%20LTD%2020-Mar-2008_files/image004.gif){kind=small}
www.synco.com.hk
The design is professional and the content is well organized. At present it is
in English version.
E-mail: info@synco.com.hk
%20LTD%2020-Mar-2008_files/image005.gif){kind=small}
For the past two years there is no record of litigation.
%20LTD%2020-Mar-2008_files/image006.gif){kind=small}
*Major Shareholders*
================
Total number of shareholders: 1
Total number of shares: 7,000
Shareholders Country %
------------------------- -------------------- -------
JACOBSON MEDICAL GROUP INC Virgin Islands (British) 100.00
*Company Secretary*
================
SHUM LAW CORPORATE SERVICES LTD
C. R. no : 209105
Address : Suite 1101 Bank Centre 630-636 Nathan Rd Mongkok Kowloon
%20LTD%2020-Mar-2008_files/image007.gif){kind=small}
Management: Mr. Valiant Wah-lun Mak, Chief Operating Officer
Name Nationality
Job Description
Mr. Valiant Wah-lun Mak Hong
Kong Chief Operating Officer
%20LTD%2020-Mar-2008_files/image008.gif){kind=small}
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Manufacture of wide range of Western pharmaceutical products.
2. Sales and distribution of manufactured products to local and
international markets.
Offers over 200 products including vitamins, prescribed antibiotics,
tablets, cough syrups, capsules, creams and suppositories such as:
Generic Name
------------------
- Acetazolamide tablet
- Allermin Expectorant
- Allermin Syrup
- Allermin Syrup Forte
- Ambroxol HCL
- Antiflu Capsule
- Antiflu Forte Capsule
- Bendrol Elixir
- Benyl Expectorant
- Beplex Syrup
- Bevit Tablet
- Bromelain Tablet
- Calcium Lactate Tablet
- Carbimazole Tablet
- Cevit Tablet
- Cortosone Cream
- Dequalinium Chloride Lozenge
- Dexmetha Chloride Lozenge
- Ephredrine Table
- Famocid Tablet
- Imipramine
- Isopropyl Alcohol
- Mehisdin-P Syrup
- Multivit Tablet
- Opium Compound Syrup
- Panbro Tablet
- Pectolin Suspension
- Pyrixin Tablet
- Scopolamine Syrup
- Sedral Tablet
- Terbuline Syrup and Tablet
Therapeutic Area
------------------------
- Analgesics
- Antacids
- Antibacterial/Antiseptics
- Anticonvulsants/Sedatives
- Antidepressants
- Antidiabetic Agents
- Antidiarrheas
- Antihistamines
- Anti-inflammatory agents/Corticosteroid Preparations
- Bronchial Dilators
- Cardiovascular Preparation
- Antihyperlipidaemic Agents
- Cough, decongestant & cold preparations
- Laxatives
- Muscle relaxants
- Skin sensitisation or affections
- Throat lozenges
Products: Analgesics
Antibiotics
Capsules
Cold remedies
Elixirs
*Brand*
======
Synco
*Payment Terms*
=============
Sales
------
Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
--------------
Local : Cash or Credit
*Associations*
===========
Member of:
- Federation of Hong Kong Industries
*Domestic Customers*
=================
Major local customers include:
- Government clinics
- Public hospitals
*Local Distribution Network*
======================
Part of the annual turnover is attributed to local sales.
*Export Markets*
=============
Part of the annual turnover is attributed to export.
%20LTD%2020-Mar-2008_files/image009.gif){kind=small}
*Strategic Partners & Alliances*
========================
The group maintains a total of 700 employees.
%20LTD%2020-Mar-2008_files/image010.gif){kind=small}
PAYMENT RATING : 3 OBTAINED SCORES :
63
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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 MODERATE amounts
depending on individual judgement experience.
%20LTD%2020-Mar-2008_files/image011.gif){kind=small}
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*Bank Details*
===========
Bank Name : STANDARD CHARTERED BANK
Branch :
Central, Hong Kong
Branch Address : 13Fl
Standard Chartered Bank Bldg 4-4A Des Voeux Rd
SWIFT Code :
SCBLHKHH
%20LTD%2020-Mar-2008_files/image012.gif){kind=small}
CREDIT OPINION: USD 500,000
SC is considered medium-sized in its line with a long history. A credit
line at the above amount appears beyond SC’s capacities, while a credit line up
to USD 150,000 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 2934301500 Antidepressants, tranquilizers and other pschotherapeutic
agents
Exporting 2934302700 Other drugs,
Exporting 2936294000 Other vitamins and their derivatives
Exporting 2941 Antibiotics
Exporting 3000 Pharmaceutical
products
Exporting 3003 Medicaments
of mixtures, not dosage etc form
Exporting 3004 Medicaments,
mixed or not, in dosage etc form
Manufacturing 2934301500 Antidepressants,
tranquilizers and other pschotherapeutic agents
Manufacturing 2934302700 Other
drugs,
Manufacturing 2936294000 Other
vitamins and their derivatives
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Capsules
Exporter Tablets
Exporter Syrups
Exporter Tranquilizers
Exporter Elixirs
Exporter Vitamins
Exporter Ethical
drugs
Exporter Antibiotics
Exporter Analgesics
Manufacturer Capsules
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Macau
Exporting to Singapore
Exporting to Vietnam
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)