MIRA INFORM REPORT

 

 

Report Date :

28.05.2012

 

IDENTIFICATION DETAILS

 

Name :

PHOENIX  MEDICINES  CO.

 

 

Registered Office :

Room G2, 19/F., Block 4, Golden  Dragon Industrial Building, 182‑190 Tai Lin Pai Road, Kwai Chung, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

15.11.2007

 

 

Com. Reg. No.:

38623066-000-11

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Medicine and Pharmaceutical Trader of all kinds of medicines and pharmaceuticals, etc

 

 

No. of Employees :

02

 

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 :

Satisfactory

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

 

 

Company name

 

PHOENIX  MEDICINES  CO.

 

 

 

Company ADDRESS

 

Room G2, 19/F., Block 4,Golden  Dragon Industrial Building, 182-190 Tai Lin Pai Road, Kwai Chung, New Territories, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mrs. Usha Bhavan Joshi

 

 

SUMMARY

 

Establishment:                          15th November, 2007.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Medicine and Pharmaceutical Trader.

 

Employees:                   2.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Room G2, 19/F., Block 4, Golden  Dragon Industrial Building, 182‑190 Tai Lin Pai Road, Kwai Chung, New Territories, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

38623066-000-11

 

 

MANAGEMENT

 

Manager:  Mrs. Usha Bhavan Joshi

 

 

SOLE PROPRIETOR

 

Name:                           Mrs. Usha Bhavan JOSHI

Residential Address:      17A, 20/F., Phase VI, Nassau Street,

Meifoo, Sun Chuen, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 15th November, 2007 as a sole proprietorship concern owned by Mrs Usha Bhavan Joshi under the Hong Kong Business Registration Regulations.

Formerly the subject was located at 17A, 20/F., Phase VI, Nassau Street, Meifoo, Sun Chuen, Kowloon, Hong Kong, moved to the present address in March 2008.

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

 

 

OPERATIONS

 

Activities:                      Medicine and Pharmaceutical Trader.

 

Lines:                           All kinds of medicines and pharmaceuticals, etc.

 

Employees:                   2.

 

Commodities Imported:   India, etc.

 

Markets:                       Hong Kong, other Asian countries, Europe, etc.

 

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

 

Terms/Buying:               As per contracted.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Made a very small profit in 2011.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making rather 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:                      Small.

 

 

GENERAL

 

Phoenix Medicines Company is a sole proprietorship set up and owned by Mrs. Usha Bhavan Joshi who is an Indian businesswoman.  She is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  She is also manager of the subject.

Formerly the subject’s registered address was located at Joshi’s residence, it moved to the present address in March 2008.

The subject is trading in all kinds of medicines and pharmaceuticals, etc.  Raw materials and pharmaceuticals are imported from India, other Asian countries.  Prime markets are Hong Kong, other Asian countries, Europe, etc.  Business is fairly active.  Just made a very small profit in 2011.

The subject’s business is chiefly handled by Joshi herself.  History is just over four years and six months.  On the whole, consider it good for normal business engagements in small credit amounts.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.73

UK Pound

1

Rs.87.26

Euro

1

Rs.69.89

 

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.