|
Report Date : |
30.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
APC PHARMACEUTICALS & CHEMICAL LTD. |
|
|
|
|
Registered Office : |
19/F., |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
10.07.1987 |
|
|
|
|
Com. Reg. No.: |
11150967 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importers, Exporters and Wholesalers of all kinds of pharmaceuticals, chemicals and intermediates |
|
|
|
|
No. of Employees : |
15. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
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 – 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 |
APC PHARMACEUTICALS & CHEMICAL
LTD.
Address: 19/F., Chung
Hing Commercial Building,
62-63
Connaught Road Central,
Hong Kong.
(Your enquiry given as:
APC PHARMACEUTICALS AND CHEMICALS LTD
and old address at:
Room 2102, 21/F., Wing On Centre,
111 Connaught Road, Central,
Hong Kong. )
PHONE: 2511 6504
FAX: 2511 6114
Managing Director: Mr. Ravindra Narayan Menon (alias Ravi Menon)
Incorporated on: 10th
July, 1987.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Pharmaceutical and Chemical Trader.
Employees:
15.
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
19/F., Chung Hing Commercial Building, 62-63 Connaught Road Central,
Hong Kong.
Holding Company:-
APC Partners Ltd., British Virgin Islands.
Associated Companies:-
APC Pharmaceuticals & Chemicals (China) Ltd., Hong Kong.
APC Pharmaceuticals (Thailand) Ltd., Thailand.
APC Pharmaceuticals & Chemicals (Pvt.) Ltd., India.
APC Pharmaceuticals & Chemicals (Europe) Ltd., UK.
APC Pharmaceuticals Inc., US.
APC Nutrients Pvt. Ltd., India.
APC Technologies Ltd., Hong Kong.
APC Overseas Ltd., Hong Kong.
(Same address)
[Dissolved in January 1996]
11150967
0193110
Managing Director: Mr. Ravindra Narayan Menon (alias Ravi Menon)
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
(As per registry dated 10-07-2011)
|
Name |
Occupation |
No. of shares |
|
APC Partners Ltd. P.O. Box 116, Sea Meadow House, Blackurne Highway, Road Town, Tortola,
British Virgin Islands. |
|
950,000 |
|
Tsang Kim Lan, Chris |
|
50,000 |
|
|
|
–––––––– |
|
|
Total: |
1,000,000 ======= |
(As per registry dated 10-07-2011)
|
Name (Nationality) |
Address |
|
Tsang Kim Lan, Chris |
Flat H, 30/F., Block 3, Neptune Terrace, 13 Tai Man Street, Chaiwan,
Hong Kong. |
|
Ravindra Narayan MENON |
4/F., Block M, Scenic Villas, 26 Scenic Villa Drive, Pokfulam, Hong
Kong. |
(As per registry dated 10-07-2011)
|
Name |
Address |
Co. No. |
|
Karalon Ltd. |
12/F., The Lee Gardens, 33 Hysan Avenue, Causeway Bay, Hong Kong. |
0155628 |
The company was incorporated on 10th July, 1987 as a private limited
liability company under the Hong Kong Companies Ordinance.
At the very beginning, the subejct was located at 3/F., Morrison Hill
Road, Wanchai, Hong Kong, moved to Room 801, 8/F., China Underwriters Centre,
88 Gloucester Road, Wanchai, Hong Kong in 1993.
Last time, the subject was located at Room 2102, 21/F., Wing On Centre,
111 Connaught Road, Central, Hong Kong, moved to the present address in 2011.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importers,
Exporters and Wholesalers.
Lines: All
kinds of pharmaceuticals, chemicals and intermediates.
Employees: 15.
Commodities Imported: Mainly imported from China (pharmaceutical e.g. analgin DAB8,
doxycycline HCL BP, gentamycin sulphate, caffiene anhydrous, etc.), India
(pharmaceutical e.g. chloramphenical maleate BP, ampicillin sodium powder and
compacted, etc.), Japan, Korea, Israel, Spain, China and bought locally.
Markets: China,
India, Pakistan, Indonesia, Europe and Canada.
Terms/Sales:
L/C, T/T and D/P.
Terms/Buying: L/C,
T/T and as per contracted.
The Hong Kong General Chamber of Commerce,
Hong Kong.
The Indian Chamber of Commerce, Hong Kong.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Mortgage or Charge (since 2009): (See attachment)
Profit & Loss: Business is profitable.
Condition:
Keeping in an
active and satisfactory manner.
Facilities:
Making active
use of general banking facilities.
Payment:
So far regular.
Commercial Morality: Satisfactory.
Bankers:-
Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
Union Bank of India, Hong Kong Branch.
CITIBANK, N.A., Hong Kong.
Industrial & Commercial Bank of China
(Asia) Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
HSH Nordbank AG, Hong Kong Branch.
The Industrial & Commercial Bank of
China, Hong Kong Branch.
Standing:
Good.
APC Pharmaceuticals & Chemical Ltd. is controlled by Mr. Ravindra
Narayan Menon who is an Indian. It is a
trading company engaged in the import and export of pharmaceuticals, chemicals
and intermediates.
Initially its registered capital was HK$10,000.00, was increased to
HK$1,000,000.00 in March 1994.
The subject is the head office of the APC Group. Set up in 1987 with a strategic view to act
as a portal to the Chinese market, the subject has been a partner to companies
wishing to make in-roads into China. Its
team in Hong Kong consists of industry veterans with logistical
capabilities and pharmaceuticals sourcing.
The subject has set up a subsidiary company in Shanghai known as APC
Shanghai. APC Shanghai functions as a
strong business and services centre focused on navigating the vast Chinese
market.
APC Shanghai is engaged in the following business scope:-
·
One stop shop for pharmaceutical activity in and
out of China;
·
Provide local regulatory support for the
registration of products in China;
·
Provide an audit service for the audit of API and
dosage forms in China
·
Sourcing API and intermediates from approved
sources;
·
Provide customer support and promote certain
equipment in China;
·
Sourcing technology globally;
·
Provide right technology to Chinese customers by
sourcing it globally;
·
Bring in right partner for contract manufacturing
in China and provide complete supply chain;
·
Provide technical and audit support for the
upgrading of an existing plant and/or provide design drawing and validation
services for a new plant to meet EU, US or WHO GMP standards for the Chinese
customers.
At present APC Shanghai has over 300 customers and its annual sales
turnover is over US$50 million.
The subject is under experienced management. Current business is active and good. History in Hong Kong is about 25 years.
On the whole, consider it good for normal business engagements.
(since 2009)
|
Date |
Particulars |
Amount |
|
08-01-1990 |
Instrument: Security over Deposit in Respect of
Obligations of the Depositor Property: Term deposit No. 552068 for US$50,330 Mortgagee: Bank of Credit & Commerce H.K.
Ltd., Hong Kong. [In liquidation] |
General banking facilities |
|
10-12-1990 |
Instrument: Security Over Deposit in Respect of
Obligations of the Depositor Property: The Company’s fixed deposit maintained with the Bank under receipt No.
703532 for US$40,000 Mortgagee: Bank of Credit & Commerce H.K.
Ltd., Hong Kong.
[In liquidation] |
To secure credit facilities |
|
19-12-1990 |
Instrument: Security Over Deposit in Respect of
Obligations of the Depositor Property: The Company’s fixed deposit maintained with the Bank under receipt No.
703860 for US$80,000 Mortgagee: Bank of Credit & Commerce H.K.
Ltd., Hong Kong.
[In liquidation] |
- ditto - |
|
04-01-1991 |
Instrument: Security Over Deposit in Respect of
Obligations of the Depositor Property: The Company’s fixed deposit maintained with the Bank under receipt No.
704235 for US$28,962 Mortgagee: Bank of Credit & Commerce H.K.
Ltd., Hong Kong.
[In liquidation] |
- ditto - |
|
08-03-1991 |
Instrument: Security Over Deposit in Respect of
Obligations of the Depositor Property: The Company’s fixed deposit maintained with the Bank under receipt No.
721256 for US$205,366 Mortgagee: Bank of Credit & Commerce H.K.
Ltd., Hong Kong.
[In liquidation] |
To secure credit facilities |
|
19-04-1993 |
Instrument: Charge on Fixed Deposit Property: Deposit of US$324,000 with the Bank and all amounts deriving therefrom
directly or indirectly Mortgagee: Hamburgische Landesbank -
Girozentrale, Hong Kong Branch.
[Dissolved] [Successor of HSH
Nordbank AG] |
All debts obligations and liabilities |
|
08-07-1993 |
Instrument: Charge Over Deposits Property: 1) By fixed charge: all the Company’s rights in respect of Time
Deposit 2) By assignment: all Deposits held with Standard Chartered Asia
Ltd. or Standard Chartered Finance Ltd. Mortgagee: Standard Chartered Bank,
Hong Kong Branch. [Business
transferred to Standard Chartered Bank (Hong Kong) Ltd.] |
To secure payment or discharge of all moneys, obligations and
liabilities |
|
03-08-1994 |
Instrument: Deposit Security Agreement -
Own Liabilities Property: Six United States Deposit amounting to US$312,206 and Hong Kong
Deposit HK$100,000 together with all interest and all additions thereto, and
the moneys standing to the credit of HKD/USD Imprest Account Mortgagee: Emirates Bank International Ltd.,
Hong Kong Office. [Now known as
Emirates Bank International (Public Joint Stock Company)] |
All liabilities |
|
06-02-1995 |
Instrument: Charge Over Deposits Property: 1) By fixed charge: all the Company’s rights in respect of
Deposit for HK$1,000,000 2) By assignment: all Deposits held with Standard Chartered
Asia Ltd. or Standard Chartered Finance Ltd. Mortgagee: Standard Chartered Bank,
Hong Kong Branch. [Business transferred
to Standard Chartered Bank (Hong Kong) Ltd.]. |
To secure payment or discharge of all moneys, obligations and
liabilities |
|
29-04-1996 |
Instrument: Undertaking Relating to Deposits Property: Receipt No.: 2209 & 2214 Mortgagee: Indo Hong Kong International Finance
Ltd., Hong Kong. |
All moneys |
|
29-11-1996 |
Instrument: Deposit Security Agreement - Third
Party Liabilities Property: Deposit No. TD962757 for HK$200,000 Mortgagee: Emirates Bank International Ltd.,
Hong Kong Office. [Now known as
Emirates Bank International (Public Joint Stock Company)] |
All liabilities |
|
24-08-2009 |
Instrument: Charge on Deposit Property: Deposit all sums of money from time to time standing to the credit of
the account of the Depositor, A sum of USD315,000, Currently represented or
evidenced by a certificate of deposit dated 19/08/2009 Mortgagee: Union Bank of India, Hong Kong
Branch. |
All Moneys |
|
21-12-2009 |
Instrument: Deposit Deed Property: By way of a first fixed charge and as a continuing security for the
Obligations Mortgagee: Citibank N.A., Hong Kong Branch. |
All moneys now or at any time in the future owing by the company |
|
19-05-2010 |
Instrument: Security over Deposit in respect of
Obligations of the Depositor Property: By way of first fixed Chargee to the Chargee the account No.
873600005991 and all deposits Mortgagee: The Industrial & Commercial Bank
of China, Hong Kong Branch. |
All monies and liabilities, present or future, actual or contingent,
which are now or shall at any time or times hereafter be or become due,
owing, payable or incurred to the Chargee by the Borrower |
|
29-06-2011 |
Instrument: Undertaking Relating To Deposits Property: The Deposit of an amount of US$408,443.37 Mortgagee: Canara Bank, Hong Kong Branch. |
Liabilities means all and any liabilities, sole or joint, actual or
contingent, quantified or not, now or hereafter owing or incurred to the Bank
by the Depositor or the Third Party |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.31 |
|
|
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.