MIRA
INFORM REPORT
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Report Date : |
29.11.2011 |
IDENTIFICATION DETAILS
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Name : |
GE HEALTHCARE BIO-SCIENCES LTD |
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Formerly Known As : |
AMERSHAM BIOSCIENCES LTD |
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Registered Office : |
L12, Office Tower, Langham Place, 8 Argyle Street, Mongkok, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.10.1975 |
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Com. Reg. No.: |
04672106 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of Biotechnological and
Medical Equipment |
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No. of Employees : |
30. (Hong Kong) |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Hong Kong |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
GE HEALTHCARE BIO-SCIENCES
LTD.
L12, Office Tower, Langham Place, 8 Argyle Street, Mongkok, Kowloon,
Hong Kong.
PHONE: 2100 6300, 2100 6336
FAX: 2100 6338
E-MAIL: lifesciences@ge.com
MANAGEMENT
Managing Director: Mr. Yu Tak
Kin, Duncan
SUMMARY
Incorporated on: 24th
October, 1975.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$500,000.00
Business Category: Medical Equipment Trader.
Group Revenues:- (Year
ended 31-12-2010)
US$150,211
million (Whole Group)
US$ 16,897 million (Healthcare Section)
Employees:
30. (Hong Kong)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
ADDRESS
Registered Head
Office:-
L12, Office Tower, Langham Place, 8 Argyle Street, Mongkok, Kowloon,
Hong Kong.
Holding Company:-
GE Medical Holding AB, Sweden.
Ultimate Holding
Company:-
General Electric Company, USA.
Associated/Affiliated
Companies:-
General Electric Group of Companies
Amersham Health Norge AS, Norway.
Amersham plc, UK & Northern Ireland.
Bently Nevada LLC, USA.
Cardinal Cogen Inc., USA.
Caribe GE International of Puerto Rico Inc., Puerto Rico.
Datex-Ohmeda Inc., USA.
GE Aviation Service Operation LLP, Singapore.
GE Aviation Systems Group Ltd., UK and Northern Ireland.
GE Aviation Systems North America Inc., USA.
GE Aviation U.K., UK & Northern Ireland.
GE Betz International Inc., USA.
GE Caledonian Ltd., UK & Northern Ireland.
GE Canada Co., Canada.
GE Capital Global Financial Holdings Inc., USA.
GE Capital UK Finance, UK & Northern Ireland.
GE Drives & Controls Inc., USA.
GE Druck Holdings Ltd., UK & Northern Ireland.
GE Energy Europe B.V., Netherlands.
GE Energy Holding SAS, France.
GE Energy Netherlands B.V., Netherlands.
GE Energy Parts Inc., USA.
GE Energy Products France SNC, France.
GE Energy Services LLC, USA.
GE Engine Services - Dallas LP, USA.
GE Engine Services Distribution LLC, USA.
GE Engine Services Inc., USA.
GE Engine Services UNC Holding I Inc., USA.
GE Europe Holdings LLC, USA.
GE Financial Assurance Holdings Inc., USA.
GE Financial Funding, Ireland.
GE Financial Ireland, Ireland.
GE Funding Finland Oy, Finland.
GE Gas Turbines (Greenville) LLC, USA.
GE Generators (Pensacola) LLC, USA.
GE Global Sourcing LLC, USA.
GE Healthcare AS, Norway.
GE Healthcare Bio-Sciences AB, Sweden.
GE Healthcare BUBA, Belgium.
GE Healthcare European Holdings SARL, Luxembourg.
GE Healthcare Finland Oy, Finland.
GE Healthcare Japan Corporation, Japan.
GE Healthcare Ltd., UK & Northern Ireland.
GE Healthcare Norge AS, Norway.
GE Healthcare USA Holding Inc., USA.
GE Holdings Luxembourg & Co. SARL, Luxembourg.
GE Hungary Co. Ltd., Hungary.
GE Infrastructure Aviation Ltd., UK & Northern Ireland.
GE Infrastructure Inc., USA.
GE Infrastructure Technology International LLC, USA.
GE Inspection & Repair Services Ltd., UK & Northern Ireland.
GE Intelligent Platforms Embedded Systems Inc., USA.
GE Intelligent Platforms Inc., USA.
GE Investments Inc., USA.
GE Ionics Inc., USA.
GE Jenbacher GmbH & Co. OHG, Austria.
GE Jenbacher GmbH, Austria.
GE Keppel Energy Services Pte. Ltd., Singapore.
GE Maintenance Services Inc., USA.
GE Medical Systems Global Technology Co. LLC, USA.
GE Medical Systems Inc., USA.
GE Medical Systems Information Technologies Inc., USA.
GE Medical Systems LLC, USA.
GE Medical Systems Societe en Commandite Simple, France.
GE Medical Systems Ultrasound & Primary Care Diagnostics LLC, USA.
GE Military Systems, USA.
GE Money Servicing Ltd., UK & Northern Ireland.
GE Osmonics Inc., USA.
GE Pacific Holding Pte. Ltd., Singapore.
GE Pacific Pte. Ltd., Singapore.
GE Packaged Power Inc., USA.
GE Packaged Power LP, USA.
GE Transportation Parts LLC, USA.
GE Transportation Systems Global Signaling LLC, USA.
GE UK Group Ltd., UK & Northern Ireland.
GE Water & Process Technologies Canada, Canada.
GE Wind Energy LLC, USA.
GEA Parts LLC, USA.
GEA Products LP, USA.
GEAE Technology Inc., USA.
GEFH AS, Norway.
GEH Holdings, UK & Northern Ireland.
GENE Holding LLC, USA.
General Electric (Bermuda) Ltd., Bermuda.
General Electric Canada Co., Canada.
General Electric Capital Corporation, USA.
General Electric Capital Services Inc., USA.
General Electric CGR Europe SAS, France.
General Electric Europe Holdings C.V., Netherlands.
General Electric Finance Holding GmbH, Germany.
General Electric Financing C.V., Netherlands.
General Electric Foreign Sales Corporation, Bahamas & Eleuthera
Island.
General Electric International (Benelux) BV, Netherlands.
General Electric International Inc., USA.
General Electric International Operations Co. Inc., USA.
General Electric Services (Bermuda) Ltd., Bermuda.
General Electric Services Luxembourg SARL, Luxembourg.
Granite Services Inc., USA.
IDX Systems Corporation, USA.
Mongram Licensing Inc., USA.
Mongram Licensing International Inc., USA.
MRA Systems Inc., USA.
NBC Universal Inc., USA.
Nuclear Fuel Holding Co. Inc., USA.
Nuovo Pignone Holding S.p.A., Italy.
Nuovo Pignone International SARL, Luxembourg.
Nuovo Pignone S.p.A., Italy.
OEC Medical Systems Inc., USA.
Panametrics Ltd., Bermuda.
Patent Licensing International Inc., USA.
PII Ltd., UK & Northern Ireland.
Reuter-Stokes Inc., USA.
Unison Industries LLC, USA.
Vetco Gray U.K. Ltd., UK & Northern Ireland.
Viceroy Inc., USA.
Vital Signs Holdings LLC, USA.
Whatman Ltd., UK & Northern Ireland.
etc.
BUSINESS REGISTRATION NUMBER
04672106
COMPANY FILE NUMBER
0044590
MANAGEMENT
Managing Director: Mr. Yu Tak
Kin, Duncan
CAPITAL
Nominal Share Capital: HK$1,000,000.00
(Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$500,000.00
SHAREHOLDER
(As per registry dated 24-10-2011)
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Name |
|
No. of shares |
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GE Medical Holding AB SE-751, 84 Uppsala, Sweden. |
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500,000 ====== |
DIRECTORS
(As per registry dated 24-10-2011)
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Name (Nationality) |
Address |
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HSIA Ta Wei, David |
3,4 Fl., 301 Ho Yeon Hee Dream County, #91-10 Yeon Hee-Dong, Seo Dae
Moon-Gu, Seoul. |
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YU Tak Kin, Duncan |
Flat E, 25/F., Block 6, Metro City, 1 Wan Hang Road, Tseung Kwan O,
Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 24-10-2011)
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Name |
Address |
Co. No. |
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Secreco Ltd. |
8/F., Gloucester Tower, The Landmark, 15 Queen’s Road Central, Hong
Kong. |
0139490 |
HISTORY
The subject was incorporated on 24th October, 1975 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of L K B Far East
Ltd., name changed to Pharmacia Far East Ltd. on 9th August, 1988; changed to
Pharmacia Biosystems Far East Ltd. on 2nd May, 1991; to Pharmacia Biotech Far
East Ltd. on 28th April, 1992; to Pharmacia Biotech Asia Pacific Ltd. on 13th
September, 1994; to Amersham Pharmacia Biotech Asia Pacific Ltd. on 14th
November, 1997; to Amersham Biosciences Ltd. on 12th November, 2001; and further
to the present style on 11th November, 2005.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of biotechnological and medical equipment.
Employees: 30. (Hong Kong)
Commodities Imported: Europe, US, etc.
Markets: Hong
Kong, China, other Asian countries, Europe, etc.
Group Revenues:-
|
Period |
Whole Group |
Healthcare Section |
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Year ended 31-12-2007 – Restated |
US$171,556 million |
US$16,997 million |
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Year ended 31-12-2008 – Restated |
US$181,581 million |
US$17,392 million |
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Year ended 31-12-2009 – Restated |
US$155,278 million |
US$16,015 million |
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Year ended 31-12-2010 |
US$150,211 million |
US$16,897 million |
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$500,000.00
Group Net Earnings: US$22,208 million (Year
ended 31-12-2007)
US$17,410
million (Year ended 31-12-2008)
US$11,025
million (Year ended 31-12-2009)
US$11,644
million (Year ended 31-12-2010)
Segment Result (Healthcare Section):-
US$3,056 million (Year ended 31-12-2007)
US$2,851 million (Year ended 31-12-2008)
US$2,420 million (Year ended 31-12-2009)
US$2,741 million (Year ended 31-12-2010)
Profit or Loss: Business is profitable.
Condition:
Keeping in an
active manner.
Facilities:
Making 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:
Good.
GENERAL
Having issued 500,000 ordinary shares of HK$1.00 each, GE Healthcare Bio‑Sciences
Ltd. is wholly owned by GE Medical Holding AB which is a Sweden-registered
firm.
The subject belongs to the GE Healthcare Unit of the Technology
Infrastructure Segment. It is trading in
all kinds of medical equipment and apparatus which are imported from worldwide
countries. Main customers are hospitals
in Hong Kong. Currently, the subject has
had technicians stationing at some of the large hospitals which are using its
products.
The ultimate holding company is General Electric Company [GE], a US‑based
and listed firm.
Headquartered in the United Kingdom, GE Healthcare is a US$17 billion
unit of GE (NYSE: GE). Worldwide, GE Healthcare
employs more than 46,000 people committed to serving healthcare professionals
and their patients in more than 100 countries.
Healthcare has expertise in medical imaging and information
technologies, medical diagnostics, patient monitoring systems, disease
research, drug discovery and biopharmaceutical manufacturing technologies. It is dedicated to predicting and detecting
disease earlier, monitoring its progress and informing physicians, and helping
physicians tailor treatment for patients.
Healthcare manufactures, sells and services a wide range of medical
equipment that helps provide a fast, non-invasive way for doctors to see broken
bones, diagnose trauma cases in the emergency room, view the heart and its
function, and identify early stages of cancers or brain disorders. With diagnostic imaging systems such as
Magnetic Resonance [MR], Computed Tomography [CT] and Positron Emission
Tomography [PET] scanners, X‑ray, nuclear imaging, digital mammography,
and Molecular Imaging technologies, Healthcare creates industry-leading
products that allow clinicians to see inside the human body more clearly than
ever. In addition,
Healthcare-manufactured technologies include patient and resident monitoring,
diagnostic cardiology, ultrasound, bone densitometry, anesthesiology and oxygen
therapy, and neonatal and critical care devices. Medical diagnostics and life sciences
products include diagnostic imaging agents used in medical scanning procedures,
drug discovery, biopharmaceutical manufacturing and purification, and tools for
protein and cellular analysis for pharmaceutical and academic research,
including a pipeline of precision molecular diagnostics in development for
neurology, cardiology and oncology applications. On 22nd December, 2010, Healthcare acquired
Clarient Inc., a leading company in the molecular diagnostics sector.
Healthcare’s product services include remote diagnostic and repair
services for medical equipment manufactured by GE and by others, as well as
computerized data management, information technologies and customer
productivity services.
Healthcare competed with a variety of US and non-US manufacturers and
services operations. Technological
competence and innovation, excellence in design, high product performance,
quality of services and competitive pricing are among the key factors affecting
competition for these products and services. Products and services are sold
worldwide to hospitals, medical facilities, pharmaceutical and biotechnology
companies, and to the life science research market.
Throughout the world, Healthcare delivers healthymagination solutions
that provide greater efficiency to help control costs, better quality to
improve patient outcomes, and extended access to healthcare for patients in
underserved markets.
Healthcare’s products are subject to regulation by numerous government
agencies, including the US Food and Drug Administration [US FDA], as well as
various laws that apply to claims submitted under medicare, medicaid or other
government funded healthcare programs.
Healthcare’s product services include remote diagnostic and repair
services for medical equipment manufactured by GE and by others, as well as
computerized data management, information technologies and customer
productivity services.
According to GE Healthcare, its revenues for the year of 2010 were
US$16.9 billion, 2009, US$16.0 billion.
Profits of GE Healthcare for the year of 2010 were US$2.7 billion, 2009,
US$2.4 billion.
Effective 1st January, 2011, GE reorganized the Technology Infrastructure
segment into three segments – Aviation, Healthcare and Transportation. The results of the Aviation, Healthcare and
Transportation businesses are unaffected by this reorganization.
For the year ended 31st December, 2010, the sales of the Group amounted
to US$150.2 billion, decreased by 3.3% as compared with US$155.3 billion in FY
2009; Group net earnings were US$11.6 billion, increased by 5.5% as compared
with US$11.0 billion in FY 2009.
At year-end 2010, GE and consolidated affiliates employed approximately
287,000 persons, of whom approximately 133,000 were employed in the United
States.
Currently, the subject has been providing medical technology, services,
and productivity solutions to customers in Hong Kong. Their products include networking and
productivity tools, clinical information systems, patient monitoring systems,
conventional and digital X-ray, computed and position emission tomography,
magnetic resonance, ultrasound and bone mineral densitometry, and nuclear
medicine.
The subject is fully supported by GE Healthcare and ultimately by GE.
The history of the subject in Hong Kong is over 36 years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.93 |
|
|
1 |
Rs.80.62 |
|
Euro |
1 |
Rs.69.36 |
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 |
|
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.