MIRA INFORM REPORT

 

 

Report Date :           

14.12.2011

 

IDENTIFICATION DETAILS

 

Name :

CHIEF  RAINBOW  LTD.

 

 

Registered Office :

c/o SBC Corporate Services Ltd., Room 2208-2209, 22/F., Wu Chung House, 213 Queen’s Road East, Wanchai

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

06.07.2007

 

 

Com. Reg. No.:

38549561

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer and Exporter of all kinds of pharmaceuticals and chemicals, etc.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

No Operating Office in Hong Kong

 

 

Payment Behaviour :

No Complaints

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

CHIEF  RAINBOW  LTD.

 

 

Company ADDRESS

 

c/o SBC Corporate Services Ltd.

Room 2208-2209, 22/F., Wu Chung House, 213 Queen’s Road East, Wanchai, Hong Kong.

PHONE:            2507 7219

FAX:                 2507 7225

 

 

MANAGEMENT

 

Managing Director:  Ms. Kong Ai Qing

 

 

SUMMARY

 

Incorporated on:             6th July, 2007.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Pharmaceutical Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

c/o SBC Corporate Services Ltd.

Room 2208-2209, 22/F., Wu Chung House, 213 Queen’s Road East, Wanchai, Hong Kong.

 

Affiliated/Associated Companies:-

·         Henan Nanjiecun Pharmaceutical Group, China.

·         Luohe Nanjiecun Qianwei Pharmaceutical Co. Ltd., China.

·         Luohe Nanjiecun Qianwei Pharmaceutical Group Pharmacy Co. Ltd., China.

·         United Wish Trading Ltd., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

38549561

 

 

COMPANY FILE NUMBER

 

1147307

 

 

MANAGEMENT

 

Managing Director:  Ms. Kong Ai Qing

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10,000.00

 

 

SHAREHOLDER  

(As per registry dated 06-07-2011)

 

Name

 

No. of shares

KONG Ai Qing

 

10,000

=====

DIRECTOR

(As per registry dated 06-07-2011)

 

Name

(Nationality)

 

Address

KONG Ai Qing

No. 601, 6/F., Jian She Road, Yuan Hui District, Luohe City, Henan, China.

 

 

SECRETARY 

(As per registry dated 01-09-2011)

 

Name

Address

Co. No.

SBC Corporate Services Ltd.

Room B, 10/F., Tower A, Billion Centre, 1 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong.

0618863

 

 

HISTORY

 

The subject was incorporated on 6th July, 2007 as a private limited liability company under the Hong Kong Companies Ordinance.

Last time, the subject’s registered address was located at 21/F., New World Tower 1, 18 Queen’s Road Central, Hong Kong where was one of the operating address of a commercial service provider SBC Corporate Services Ltd. [SBC].  In September 2010, the subject’s registered address moved to the present address where is an operating address of SBC.  Now, SBC has moved out from the former address.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           All kinds of pharmaceuticals and chemicals, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, other Asian countries, Europe, etc.

 

Markets:                       China, Japan, Southeast Asia, Europe, North America, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, T/T, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10,000.00

 

Profit or Loss:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not active in Hong Kong.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, Chief Rainbow Ltd. is wholly owned by Ms. Kong Ai Qing who is a China businesswoman.  She is also the only director of the subject.  Being a China ID holder, she does not have the right to reside in Hong Kong permanently.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 2208-2209, 22/F., Wu Chung House, 213 Queen’s Road East, Wanchai, Hong Kong known as SBC Corporate Services Ltd. [SBC] which is handling its correspondences and documents.  SBC is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.  It has had an associated company in China known as Henan Nanjiecun Pharmaceutical Group.

The Group consists of two medium pharmaceutical companies: Henan Nanjiecun Pharmaceutical Group Pharmacy Co. Ltd. [NPGP] and Henan Nanjiecun Qianwei Pharmacy Factory.  The former is engaged in producing raw material drugs and preparation while the latter is producing large volumes of injection, cepha-powder and cepha-injection, lyophilic powder and lyophilic injections and capsules.  The above-mentioned firms are associated firms of Luohe Nanjiecun Qianwei Pharmaceutical Group Pharmacy Co. Ltd. [Qianwei] which is also a China-based firm.  Ms. Kong Ai Qing is also the General Manager of Qianwei.

Occupying a plot area of 169,803 sq.m., Qianwei is a joint venture between NPGP and United Wish Trading Ltd. which is a Hong Kong-based firm.  The total investment of Qianwei is RMB165 million Yuan.  Now, Qianwei has 350 employees and has got the GMP certification of China.

NPGP was established in 1988.  It covers an area of about 48,000 sq.m.  Its construction area is 22,000 sq.m.  Currently, this firm has over 500 employees.

Qianwei’s products are marketed in China, exported to Hong Kong, Japan, Southeast Asia, Europe, North America, etc.

It is likely that Qianwei deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  Qianwei also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not very active.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.40

UK Pound

1

Rs.83.32

Euro

1

Rs.70.44

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

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.