MIRA INFORM REPORT

 

 

Report Date :

26.07.2012

 

IDENTIFICATION DETAILS

 

Name :

DRAGON  HWA  CHEMPHARM.  CO.  LTD.

 

 

Formerly Known As :

Dragon Hwa Chemphrm. Co. Ltd.,

 

 

Registered Office :

c/o Hong Kong Wan Long Fu Registrations Ltd., Room 701, 7/F., Sino Centre, 582-592 Nathan Road, Mongkok, Kowloon

 

                             

Country :

Hong Kong

 

 

Date of Incorporation :

16.11.1998

 

 

Com. Reg. No.:

22101365

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Pharmaceutical Trader of all kinds of pharmaceuticals, 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 :

Moderate

Payment Behaviour :

Unknown

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)

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

 

DRAGON  HWA  CHEMPHARM.  CO.  LTD.

 

 

Company ADDRESS

 

c/o Hong Kong Wan Long Fu Registrations Ltd.

Room 701, 7/F., Sino Centre, 582-592 Nathan Road, Mongkok, Kowloon, Hong Kong.

PHONE:            2264 8532

FAX:                 2264 8570

 

 

MANAGEMENT

 

Managing Director:         Mr. Chen Hua Zhao

 

 

SUMMARY

 

Incorporated on:             16th November, 1998.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Pharmaceutical Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     Bank of China (Hong Kong) Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Office:-

c/o Hong Kong Wan Long Fu Registrations Ltd.

Room 701, 7/F., Sino Centre, 582-592 Nathan Road, Mongkok, Kowloon, Hong Kong.

 

China Office:-

Room A-B, 25/F., Solana Court, Metro Paradise, No. 368 Tianhe Bei Road, Guangzhou, Guangdong Province, China.

[Tel:  86-20-38866693   Fax:  86-20-38861665

E-Mail:  jacewong@winsunpharm.com]

 

Associated Companies:-

Guangzhou Hwasun Pharmaceutical Co. Ltd., China.

Guangzhou Longsun Medical Technological Co. Ltd., China.

Guangzhou Winsun Pharmaceutical Co. Ltd., China.

Winsun (Hong Kong) Group Ltd., Hong Kong.  [Dissolved]

 

 

BUSINESS REGISTRATION NUMBER

 

22101365

 

 

COMPANY FILE NUMBER

 

0659687

 

 

MANAGEMENT

 

Managing Director:  Mr. Chen Hua Zhao

 

 

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

 

SHAREHOLDERS

(As per registry dated 16-11-2011)

 

Name

Occupation

No. of shares

CHEN Hua Zhao

Merchant

4,000

CHEN Hong Ying

Merchant

1,500

LIU Jing Ren

Merchant

1,500

CAI Yi Min

Merchant

1,500

CEHN Yu Hai

Merchant

1,500

 

 

––––––

 

Total:

10,000

=====

 

 

DIRECTORS  

(As per registry dated 16-11-2011)

 

Name

(Nationality)

 

Address

CHEN Hong Ying

Room 705, 8 Fa Yuen Wha Kong North Street, Lin He Wha Kong, Guangzhou, China.

 

LIU Jing Ren

Room 705, 8 Fa Yuen Wha Kong North Street, Lin He Wha Kong, Guangzhou, China.

 

CAI Yi Min

604, 590 Renmin North Road, Guangzhou, China.

 

CHEN Yu Hai

Room 204, 7 Fu Jin Dong, Guangzhou, China.

 

CHEN Hua Zhao

19-504 Yeung City Court, Kei Nan Nuiversity Guangzhou, China.

 

 

SECRETARY 

(As per registry dated 16-11-2011)

 

Name

Address

Co. No.

Hong Kong Wan Long Fu Registrations Ltd.

Room 701, 7/F., Sino Centre, 582-592 Nathan Road, Mongkok, Kowloon, Hong Kong.

0593745

 

HISTORY

 

The subject was incorporated on 16th November, 1998 as a private limited liability company under the Hong Kong Companies Ordinance.

 

Originally the subject was registered under the name of Dragon Hwa Chemphrm. Co. Ltd., name changed to the present style on 18th January, 1999.

 

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

 

 

OPERATIONS

 

Activities:                      Pharmaceutical Trader.

 

Lines:                           All kinds of pharmaceuticals, etc.

 

Employees:                   Nil.

 

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

 

Markets:                       Europe, Asian countries, North America, Australia, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               L/C, D/P, 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:                         Bank of China (Hong Kong) Ltd., Hong Kong.

 

Standing:                      Small.

GENERAL

Having issued 10,000 ordinary shares of HK$1.00 each, Dragon Hwa Chempharm. Co. Ltd. is jointly owned by five China merchants while the largest shareholder Mr. Chen Hua Zhao is holding 40% interests.  The balance 60% is equally held by four China merchants.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at “Room 701, 7/F., Sino Centre, 582‑592 Nathan Road, Mongkok, Kowloon, Hong Kong” known as “Hong Kong Wan Long Fu Registrations Ltd.” which is handling its correspondences and documents.  This firm is also the corporate secretary of the subject.

Your given address is the subject’s office in Guangzhou, Guangdong Province, China.

The subject has no employees in Hong Kong.

The subject and Guangzhou Winsun Pharmaceutical Co., Ltd. [Winsun], members of Winsun Group, are specialized in supplying APIs and intermediates to worldwide customers.

Winsun and Guangdong Grand China Pharmacy Ltd. have set up a joint venture Guilin Hwasun Pharmaceutical Co., Ltd. [Hwasun].  The subject is responsible for the importing and exporting of raw materials and products for Hwasun.

Winsun was founded on 30th January, 1994.  Its annual sales revenue amounts to RMB120 to 150 million Yuan.  Its pharmaceuticals are exported to Hong Kong, Taiwan, other Asian countries, Europe, the Middle East, North America, etc.  Winsun is specialized in sustained release pellets.

The subject is trading in the following products:-

·         API;

Intermediate;

Formulation;

Pellet; &

Veterinary.

The subject’s business in Hong Kong is not active.  History in Hong Kong is over thirteen years.

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.56.38

UK Pound

1

Rs.87.44

Euro

1

Rs.68.05

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.