MIRA
INFORM REPORT
|
Report Date : |
21.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
BRIGHT FUTURE PHARMACEUTICAL LABORATORIES LTD. |
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Registered Office : |
Bright Future Pharmaceutical Centre, 8 Wang Fu Street, Yuen Long
Industrial Estate, Yuen Long, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.09.1993 |
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Com. Reg. No.: |
17347013 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Manufacturer, Importer, Exporter and Wholesaler of all kinds of
pharmaceutical products. |
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No. of Employees : |
115. (Including 20 office staff in Hong Kong) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Exists |
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) |
|
Hong Kong
|
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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
BRIGHT FUTURE
PHARMACEUTICAL LABORATORIES LTD.
(Business name:BRIGHT FUTURE PHARMACEUTICALS FACTORY)
Address:
Bright Future Pharmaceutical Centre,
8 Wang Fu Street,
Yuen Long Industrial Estate,
Yuen Long, New Territories,
Hong Kong.
PHONE: 2675 0230
FAX: 2675 9328
E-MAIL: info@brightfuture.com.hk
MANAGEMENT
Managing Director: Mr. Chan Chak
Yeung
SUMMARY
Incorporated on: 2nd
September, 1993.
Organization: Private
Limited Company.
Capital: Nominal: HK$100,000,000.00
Issued: HK$81,029,127.00
Business Category: Pharmaceutical Manufacturer.
Annual Turnover: Over
US$100 million.
Employees:
115. (Including 20 office staff in Hong Kong)
Main Dealing Bankers: Bank of China (Hong Kong) Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
ADDRESS
Registered Head Office & Factory:-
Bright Future Pharmaceutical Centre, 8 Wang Fu Street, Yuen Long
Industrial Estate, Yuen Long, New Territories, Hong Kong.
China Representative Offices:-
Beijing
Representative Office
Room
805, Block A, Fuli Building, 59 Dongsanhuan Central Road, Chaoyang District,
Beijing, China.
Zip Code: 100022
Tel: (86-10) 6803 5515, 6800 0010
Fax: (86-10) 6802 4937
E-mail: bjhr@hkbf.com.cn
Shanghai
Representative Office
Room
1905, 998 Renming Road, Shanghai, China.
Zip Code: 200120
Tel: (86-21) 6329 4485, 6329 4641, 6329
3947
Fax: (86-21) 6329 3104
E-mail: shhr@hkbf.com.cn
Guangzhou
Representative Office
Room
1510, Dong Bao Building, 767 Dongfeng Road East, Guangzhou, Guangdong, China.
Zip Code: 510060
Tel: (86-20) 3821 0536, 3821 0538
Fax: (86-20) 3821 0080
E-mail: gzhr@hkbf.com.cn
China Factory:-
Hainan Bright Future Pharmaceutical Co. Ltd.
4-2 America Industrial Development Village, 100 Nanhai Dadao, Jinpan
Development Zone, Haikou City, Hainan Province, China.
Business Name:-
Bright Future Pharmaceuticals Factory, Hong Kong.
Affiliated Companies:-
BF Suma Pharmaceuticals Inc., USA.
Hong Kong Hong Yan Tong Pharmaceutical Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
17347013
COMPANY FILE NUMBER
0447798
MANAGEMENT
Managing Director: Mr. Chan Chak
Yeung
Deputy Managing Director: Mr.
Wong Cheong Moon, Simon
Director & General Manager:
Mr. Zhang Zhiyan
CAPITAL
Nominal Share Capital: HK$100,000,000.00 (Divided into 100,000,000
shares of HK$1.00 each)
Issued Share Capital: HK$81,029,127.00
SHAREHOLDERS
(As per registry dated 02-09-2011)
|
Name |
|
No. of shares |
|
CHAN Chak Yeung |
|
52,668,933 |
|
WONG Cheong Moon |
|
28,360,194 |
|
|
|
––––––––– |
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|
Total: |
81,029,127 ======== |
DIRECTORS
(As per registry dated 02-09-2011)
|
Name (Nationality) |
Address |
|
CHAN Chak Yeung (Chinese) |
House No. B29, Europa Garden, 48 Kwu Tung Road, Sheung Shui, New
Territories, Hong Kong. |
|
WONG Cheong Moon (British) |
House No. 7, Geranium Path, Phase 1D, Palm Springs, Yuen Long, New
Territories, Hong Kong. |
|
ZHANG Zhiyan |
House Type D2, 46 Kapok Path, Palm Springs, Phase 1C, Yuen Long,
New Territories, Hong Kong. |
SECRETARY
(As per registry dated 02-09-2011)
|
Name |
Address |
Co. No. |
|
GDL Secretarial Ltd. |
Suite 1, 8/F., New Henry House, 10 Ice House Street, Central, Hong
Kong. |
0193435 |
HISTORY
The subject was incorporated on 2nd September, 1993 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s office and factory were situated at Unit 6-10,
5/F., Raleigh Centre, On Lok Tsuen, 9 Yip Cheong Street, Fanling,
New Territories, Hong Kong. In
March 1997, moved to Room 4 & 5, 4/F., Festigood Centre, 8 Lok Yip Road, On
Lok Tsuen, Fanling, New Territories, Hong Kong.
The office and factory were relocated at the present address in January
2000.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Manufacturer,
Importer, Exporter and Wholesaler.
Lines: All
kinds of pharmaceutical products.
Site Area: 3,000 sq.m.
Total Gross Floor Area: Approx. 81,000 sq.ft.
Employees: 115. (Including
20 office staff in Hong Kong)
1,000. (China)
Materials/Commodities: Imports
production equipment from USA, Europe and raw materials from Europe and some
Asian countries.
Markets: Hong
Kong, China, Macau, Vietnam, Cambodia, Philippines, Malaysia, Singapore,
Indonesia, Turkey, Portland, etc.
Annual Turnover: Over US$100 million.
Terms/Sales: Cash or as per contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
MEMBERSHIP
Federation of Hong Kong Industries,
Hong Kong. [Member No. A9696]
Hong Kong Productivity Council,
Hong Kong.
FINANCIAL INFORMATION
Nominal Share Capital: HK$100,000,000.00
(Divided into 100,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$81,029,127.00
Alternation of Capital:-
|
Initially |
paid up |
HK$ 10,000.00 |
|
07-02-2007 |
paid up |
HK$ 81,019,127.00 |
|
|
|
–––––––––––––––– |
|
Total: |
paid up |
HK$ 81,029,127.00 ============== |
Increase of Nominal Capital:-
|
From |
HK$10,000.00 |
to |
HK$100,000,000.00 |
on |
07-02-2007 |
Indebtedness: HK$98,443,888.30 (Total amount outstanding on all mortgages
and charges as per last Annual Return dated 02-09-2011)
Mortgage or Charge (since July 2011): (See attachment)
Profit or Loss: Business is profitable.
Condition: Keeping
in an active condition.
Facilities: Making
active use of general banking facilities.
Payment:
Reliable.
Commercial Morality: Satisfactory.
Bankers:-
Bank of China (Hong Kong) Ltd.,
Hong Kong.
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Citibank N.A., Hong Kong Branch.
DBS Bank (Hong Kong) Ltd.,
Hong Kong.
China Construction Bank (Asia) Corporation
Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
Bank of Communications Co. Ltd.,
Hong Kong Branch.
Nanyang Commercial Bank Ltd.,
Hong Kong.
Standing:
Good.
GENERAL
Bright Future Pharmaceutical Laboratories
Ltd., incorporated in September 1993, formerly was a wholly-owned subsidiary of
Bright Future Pharmaceutical Holdings Ltd. which is a BVI-registered firm. The business name of the subject is Bright
Future Pharmaceuticals Factory.
At the very beginning, the subject just
issued 10,000 ordinary shares of HK$1.00 each and in February 2007, increased
to 81,029,127 shares of the same value.
The holding company was unchanged at that time. On 30th March, 2009, the holding company
transferred its shares to Mr. Chan Chak Yeung and Mr. Wong Cheong Moon. Currently, the former is holding 65%
interests, while the latter, holding 35%.
The directors of the subjects are Mr. Chan
Chak Yeung, Mr. Wong Cheong Moon and Mr. Zhang Zhiyan. The third is a China merchant who joined in
mid 2005.
The subject is a pharmaceutical factory
engaged in manufacturing various kinds of pharmaceutical products. Formerly located at Fanling,
New Territories, Hong Kong, the subject and its factory moved to Yuen Long
Industrial Estate, Yuen Long, New Territories in January 2000. Now, the subject has six factories in Yuen
Long, New Territories, Hong Kong. All the
new factories have been equipped with advanced production equipment and lines.
According to the subject, its factories are
located at the Hong Kong Science and Technology Park in Yuen Long, with a total
floor area of approximately 500,000 sq.ft.
With a total investment of HK$800 million, the subject has established
entirely dedicated facilities in accordance to PIC/S-GMP for the production of
Pencillins, Cephalosporins and General Medicine. Most of the manufacturing equipments are
imported from Germany, the United States, the United Kingdom and Italy. Utilizing advance and modern technology, the
subject’s factories are capable of producing a variety of medicines in the form
of hard gelatin capsules, tablets, dry suspension, soft gelatin capsules, creams,
ointments, suppositories and oral solutions.
The subject’s products are in conformity
with the World Hygiene Organization [WHO] standards and GMP.
The subject is also the sole local
manufacturer authorised by the Hospital Authority of Hong Kong to supply
antibiotics to hospitals in Hong Kong.
The subject’s factory is supported by a
team of professionals handling all of its activities such as the technical
support, research and development, production and the sales of products.
The subject has a wide range of different
dosage form products including capsules, tablets, SR pellets, oral liquid,
etc. Significant products are
Amoxycillin 250 mg Capsules, Ambroxol 75 mg SR Capsules, Diclofenac CR
Capsules, Cofetal Syrup, Red Bamboo Pills, Depile Capsules, Lotuscin, Caplets,
Cutagesic Cream, Hong Zhu Hai Gou Wan and Wei Shuning Granules.
Currently, the subject is manufacturing the
following pharmaceuticals and products and offering clients with the following
services:-
|
Product/Service |
Product/Service Remarks |
|
Healthcare Product |
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Healthcare Product – Non-Electrical |
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Pharmaceutical and Medicine |
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Pharmaceutical Preparation |
Syrup and suspension-pharmaceutical with GMP standard (Manufacturer) Syrup and suspension-pharmaceutical with GMP standard (Exporter) |
|
Tablet and Capsule – Pharmaceutical |
Antibiotic Capsules, Sustain Released Analgesics and Cold and Flu
Preparations (Manufacturer) Antibiotic Capsules, Sustain Released Analgesics and Cold and Flu
Preparations (Exporter) |
|
Ointment – Pharmaceutical |
External Preparations (Cream and Ointment) (Manufacturer) External Preparations (Cream and Ointment) (Exporter) |
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Chinese Medicine |
Herbal Medicines (Depile Hemorrhoids Relief Capsules and Red Bamboo
Pills) with GMP standard (Manufacturer) Herbal Medicines (Depile Hemorrhoids Relief Capsules and Red Bamboo
Pills) with GMP standard (Exporter) |
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Medicinal Herbs and Dietary Supplement Products |
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Slim Food |
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Medicinal Herbs |
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Health Food |
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The subject’s products bear the following
brand names:-
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Brand Name (Brand Owner) |
Brand Product/Service |
Brand Remarks |
|
English name not available |
Chinese Medicine |
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|
English name not available |
Tablet and Capsule – Pharmaceutical |
Antibiotic capsule |
|
English name not available |
Pharmaceutical Preparation |
|
|
Yi Ke Jing |
Tablet and Capsule – Pharmaceutical |
|
|
Red Bamboo |
Pharmaceutical Preparation |
|
The subject’s main sales network covers
Hong Kong, China, East Asia, Southeast Asia, Europe, Africa, North America,
etc.
Besides its factories in Hong Kong, the
subject has set up a factory in China known as Hainan Bright Future
Pharmaceutical Co. Ltd. employing about 1,000 persons. This firm is located at 4-2 Meiguo Industrial
Park, Jinpan Development Zone, Haikou City, Hainan Province, China. Its phone and fax number are 898-6858 1559
and 898-6858 1550 respectively. In
addition, it also has established representative offices in Beijing, Shanghai
and Guangzhou. Overall business is
active. Annual sales turnover is
significant. It is reported that the
annual sales turnover of the subject is over US$100 million. Business is profitable.
The history of the subject in Hong Kong is
over eighteen years and four months.
On the whole, consider it good for normal
business engagements.
REMARKS
Court case record:-
|
Action Date |
Case No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
Mar. 1996 |
H2751 |
Cheng Yau Chun trading as O K (International) Trading Co. |
Bright Future Pharmaceutical Laboratories Ltd., Chan Chak Yeung and
Wong Cheong Moon |
Injunction |
Not stated |
MORTGAGE OR CHARGE
(Since July 2011)
|
Date |
Particulars |
Amount |
|
11-08-2011 |
Instrument: Mortgage Property: 1/3rd part or share of and in Subsection 6 of Section A of Lot No. 254
in Demarcation District 123 (1/F. including Balcony) Mortgagee: Nanyang Commercial Bank Ltd.,
Hong Kong. |
To secure all monies in respect of general banking facilities |
|
08-09-2011 |
Instrument: Mortgage Property: 1/3rd part or share of and in Subsection 7 of Section A of Lot No. 254
in Demarcation District 123 (1/F. including Balcony) Mortgagee: Nanyang Commercial Bank Ltd.,
Hong Kong. |
To secure all monies in respect of general banking facilities |
|
12-09-2011 |
Instrument: Agreement for Mortgage Property: The Remaining Portion of Subsection 3 of Section D of Yuen Long Town Lot
No. 313 and The Remaining Portion of Section D of Yuen Long Town Lot No. 313 Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
To secure loan facilities of up to a total amount of HK$120,000,000.00 |
|
23-09-2011 |
Instrument: Assignment of Life Insurance Property: Property Charged: (i) all the Assignor’s claims, options, privileges,
right, title, interest and benefit in and under the Insurance; and (ii) all
the Assignor’s claims and rights against the issuer of the Policy (No.
28004092) in respect of the Policy upon the terms Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
Secured Monies |
|
26-09-2011 |
Instrument: Charge/Mortgage Property: Subsection 5 of Section G of Yuen Long Town Lot No. 313 Mortgagee: Citibank N.A., Hong Kong Branch. |
To secure all monies in respect of general banking facilities |
|
01-11-2011 |
Instrument: Mortgage Property: Subsection 2 of Section D of Yuen Long Town Lot No. 313 (38 Wang Lee
Street, Yuen Long Industrial Estates, Yuen Long, New Territories, Hong
Kong.) Mortgagee: Bank of China (Hong Kong) Ltd.,
Hong Kong. |
To secure all moneys, obligations and liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.33 |
|
|
1 |
Rs.77.97 |
|
Euro |
1 |
Rs.65.31 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.