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Report Date : |
01.08.2012 |
IDENTIFICATION DETAILS
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Name : |
CHEMILLENNIUM
INTERNATIONAL (H.K.) LTD. |
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Registered Office : |
Room 1908, 19/F., Solo, 83 Bedford Road, Taikoktsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
06.12.1999 |
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Com. Reg. No.: |
30554053 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Re-exporter of all kinds of chemicals, chemical raw materials, pharmaceuticals, etc. |
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No. of Employees : |
07 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
CHEMILLENNIUM INTERNATIONAL (H.K.) LTD.
Room 1908, 19/F., Solo, 83 Bedford Road, Taikoktsui, Kowloon, Hong Kong.
PHONE: 2191 9580
FAX: 2191 9518
E-MAIL: chemille@netvigator.com
Managing Director: Mr. Purushotamdas Asumal Panjabi
Incorporated on: 6th December, 1999.
Organization: Private Limited Company.
Capital: Nominal: HK$6,000,000.00
Issued: HK$6,000,000.00
Business Category: Pharmaceutical Trader.
Employees: 7.
Main Dealing Banker: The Bank of East Asia Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 1908, 19/F., Solo, 83 Bedford Road, Taikoktsui, Kowloon, Hong Kong.
Associated
Companies:-
Chemill Inc., USA.
Chemillennium International Ltd., China.
Shenzhen Chemillennium Import & Export Co. Ltd., China.
30554053
0696828
Managing Director: Mr. Purushotamdas Asumal Panjabi
Contact Person: Ms. Kylie Ng
Nominal Share Capital: HK$6,000,000.00 (Divided into 6,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$6,000,000.00
(As per registry dated
06-12-2011)
|
Name |
|
No. of shares |
|
Purushotamdas Asumal PANJABI |
|
1,800,000 |
|
Neetu Pratap TEJSINGHANI |
|
600,000 |
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Raj Pratap TEJSINGHANI |
|
1,800,000 |
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Deepak Pratap TEJSINGHANI |
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1,800,000 |
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|
–––––––– |
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Total: |
6,000,000 ======= |
(As per registry
dated 06-12-2011)
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Name (Nationality) |
Address |
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Purushotamdas Asumal PANJABI |
Flat D, 31/F., Tower 3, The Waterfront, 1 Austin Road West, Kowloon, Hong Kong. |
|
Deepak Pratap TEJSINGHANI |
Flat D, 31/F., Tower 3, The Waterfront, 1 Austin Road West, Kowloon, Hong Kong. |
(As per registry
dated 06-12-2011)
|
Name |
Address |
Co.
No. |
|
Co-Convenience Consultants Ltd. |
Room 1101-1104, 11/F., Nan Fung Tower, 173 Des Voeux Road Central, Hong Kong. |
0464271 |
The subject was incorporated on 6th December, 1999 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered office was located at Room 17A, 17/F., Man Hing Commercial Building, 79-83 Queen’s Road Central, Hong Kong where was the operating office of an accountant firm Co-Convenience Consultants Ltd. As the accountant firm moved to Room 2001, 20/F., Nan Fung Tower, 173 Des Voeux Road Central, Hong Kong in December 2006, and further to Room 1101-1104, 11/F. of the same building with effect from 1st August, 2010, so did the subject.
Formerly the subject’s head office was located at Room B, 8/F., R & T Centre, 81-83 Larch Street, Mongkok, Kowloon, Hong Kong, moved to Suite 1402, 14/F., World Commerce Centre, 11 Canton Road, Tsimshatsui, Kowloon, Hong Kong in 2010, to Room B, 8/F., R & T Centre, 81-83 Larch Street, Mongkok, Kowloon, Hong Kong in February 2012, and has further moved to the present address in recent months.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Re-exporter.
Lines: All kinds of chemicals, chemical raw materials, pharmaceuticals, etc.
Employees: 7.
Commodities Imported: Imported from China, Africa, Europe, India, etc.
Markets: Worldwide countries.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/A, D/P, etc.
Nominal Share Capital: HK$6,000,000.00 (Divided into 6,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$6,000,000.00
Alternation of
Capital:-
|
Initially |
paid up |
HK$ 10,000.00 |
|
26-06-2007 |
paid up |
HK$ 5,990,000.00 |
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––––––––––––––– |
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Total: |
paid up |
HK$ 6,000,000.00 ============== |
Increase of
Nominal Capital:-
|
From |
HK$10,000.00 |
to |
HK$6,000,000.00 |
on |
26-06-2007 |
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
· The Bank of East Asia Ltd., Hong Kong.
Citibank
N.A., Hong Kong Branch.
The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 6 million ordinary shares of HK$1.00 each, Chemillennium International (H.K.) Ltd. is a private limited company jointly owned by Mr. Purushotamdas Asumal Panjabi, holding 30% interests; Mr. Neetu Pratap Tejsinghani, holding 10%; Raj Pratap Tejsinghani, 30%; and Deepak Pratap Tejsinghani, also 30%. In June 2007, the subject increased its issued share capital from HK$10,000.00 to HK$6 million.
The subject’s business is chiefly handled by Panjabi. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
The subject is an international pharmaceutical company specialised in supplying its global customers with chemical and natural raw materials and pharmaceuticals. It in fact is a member of the Chemillennium Group which is a family-owned company. The family has been involved in the healthcare industry for over three decades. Now, the Group offers its worldwide customers with a broad range of products that include neutraceuticals, both natural and synthetic, sweeteners, natural extracts and botanicals. Its customers are in over 80 countries of the world. Currently, the Group has set up a number of affiliated or associated companies in Asia and the United States.
A member of the Group, Chemillennium International Ltd. [CIL] is in Shenzhen Special Economic Zone, China. CIL is trading in the following pharmaceuticals: 10-deacetylbaccatin III, colchicine, digoxin, hyoscine hydrobromide, nicergoline, reserpine, vincamine, vinpocetine, yohimbine HCL, cinchona ledgeriana bark, griffonia simplicifolia seeds, pausinstalia yohimbe barks, prunus africana, etc.
Another significant firm in China is known as Shenzhen Chemillennium Import & Export Co. Ltd. [Shenzhen Chemillennium]. This firm is also a pharmaceutical trader. Trading in chemical raw materials and pharmaceutical intermediates, Shenzhen Chemillennium is the agent in China of a number of significant pharmaceutical manufacturers from Germany, Spain, Austria, the Netherlands, France, Mexico, South Korea, India, Taiwan, South Africa, etc. Business is rather active.
According to the subject, Shenzhen Chemillennium is trading in the following pharmaceuticals:-
· 5-htp5-99%;
Colchicine;
Digoxin;
Domperidone;
Hyoscine
Hydrobromide;
Hyoscine
N Butyl Bromide;
Omeprazole
Pellet 8.5%;
Reserpine;
vinpocetine;
&
Yohimbine
Hcl 99%.
Shenzhen Chemillennium is located at Room 607, North Block, International Business Building, Jiabin Road, Luohu District, Shenzhen SEZ, China.
The subject’s pharmaceuticals and raw materials are imported from South Africa, Europe, India, etc. Products are re-exported to worldwide countries. Business has been rather active.
The subject is carrying the following significant products: Andrographolide, Ajmaline, Boldine, Camptohecin 98%, Colchicine USP, Curcumin, Colchicoside, 10-Deacetylbaccatin III, 18ß Glycyrrhetinic Acid, Emetine HCL BP/USP, Esculoside, Escin, Forskolin, Glibenclamide, Glipizide, Hyoscine N Butyl, Bromide BP, Hyoscine Hydrobromide BP/USP, Lycopene, Methoxsalen USP, Monoammounium, Glycyrrhizinate, Nicergoline, Oleanolic Acid, Paclitaxel, Podophyllum BP, Podophyllotoxin, Reserpine BP/USP, Thiocolchicoside, etc.
Business chiefly administered by Panjabi, the subject has developed long term business ties with a number of foreign suppliers and overseas clients. The contact person of the subject Ms. Kylie Ng is a Hongkongnese. The history of the subject in Hong Kong is over twelve years four months. Business is active.
On the whole, consider it good for normal business engagements.
REMARKS:
Property information of the company:-
Property Location: Flat D on 31/F. of Tower III, The Waterfront, 1 Austin Road West, Kowloon,
Hong Kong.
Owner: Chemillennium International (H.K.) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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21-12-2004 |
- |
The Bank of East Asia Ltd., Hong Kong. |
Legal charge to secure general banking facilities |
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Date |
Particulars |
Amount |
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21-12-2004 |
Instrument: Legal Charge Property: 1,105/25,901,816th parts or shares of and in Kowloon Inland Lot No. 11080 (Flat D on 31/F. of Tower III of The Waterfront, 1 Austin Road West, Kowloon, Hong Kong.) Mortgagee: The Bank of East Asia Ltd., Hong Kong. |
To secure general banking facilities |
|
16-07-2007 |
Instrument: Charge Over Receivables and Insurance Property: 1) First fixed charge of (i) all the Chargor’s right, benefit, and interest in the Agreement and the Insurance Contract; (ii) all the Chargor’s right, benefit, title and interest in and to all receivable and accounts receivables, notes, bills, invoices, acceptances, or other form of obligations or debts; and (iii) all right, benefit, title and interest of the Chargee to the insurance proceeds under the Insurance Contract and all the credit balance 2) By way of first floating charge, the property, assets, and rights Mortgagee: Citibank N.A., Hong Kong Branch. |
All moneys, obligations and liabilities |
|
22-07-2010 |
Instrument: Deposit Deed Property: By way of a first fixed charge and as a continuing security for the Obligations, the Company charges and assigns asolutely all its rights, title to and interest in the Accounts and all Deposits Mortgagee: Citibank N.A., Hong Kong Branch. |
All moneys |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.44 |
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UK Pound |
1 |
Rs.87.12 |
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Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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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.