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Report Date : |
07.08.2013 |
IDENTIFICATION DETAILS
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Name : |
ARSHING PHARMACEUTICAL CO. LTD. |
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Registered Office : |
c/o Hongkong Zhongfu Int’l Investment Ltd. Unit C, 2/F., |
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Country : |
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Date of Incorporation : |
05.08.2010 |
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Com. Reg. No.: |
52736352 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Pharmaceuticals, pharmaceuticals
for animals, food additives, products for pets. |
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No. of Employees : |
No employees in (It is to be noted that the company does not have
its own operating office in |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international
trade and finance - the value of goods and services trade, including the
sizable share of re-exports, is about four times GDP. Hong Kong levies excise
duties on only four commodities, namely: hard alcohol, tobacco, hydrocarbon
oil, and methyl alcohol. There are no quotas or dumping laws. Hong Kong's open
economy left it exposed to the global economic slowdown that began in 2008.
Although increasing integration with China, through trade, tourism, and
financial links, helped it to make an initial recovery more quickly than many
observers anticipated, it again faces a possible slowdown as exports to the
Euro zone and US slump. The Hong Kong government is promoting the Special
Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization.
Hong Kong residents are allowed to establish RMB-denominated savings accounts;
RMB-denominated corporate and Chinese government bonds have been issued in Hong
Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion
quota set by Beijing for trade settlements in 2010 due to the growth of
earnings from exports to the mainland. RMB deposits grew to roughly 9.1% of
total system deposits in Hong Kong by the end of 2012, an increase of 59% from
the previous year. The government is pursuing efforts to introduce additional
use of RMB in Hong Kong financial markets and is seeking to expand the RMB
quota. The mainland has long been Hong Kong's largest trading partner,
accounting for about half of Hong Kong's exports by value. Hong Kong's natural
resources are limited, and food and raw materials must be imported. As a result
of China's easing of travel restrictions, the number of mainland tourists to
the territory has surged from 4.5 million in 2001 to 34.9 million in 2012,
outnumbering visitors from all other countries combined. Hong Kong has also
established itself as the premier stock market for Chinese firms seeking to
list abroad. In 2012 mainland Chinese companies constituted about 46.6% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% of
the Exchange's market capitalization. During the past decade, as Hong Kong's
manufacturing industry moved to the mainland, its service industry has grown
rapidly. Growth slowed to 5% in 2011, and less than 2% in 2012. Credit
expansion and tight housing supply conditions caused Hong Kong property prices
to rise rapidly and inflation to rise 4.1% in 2012. Lower and middle income
segments of the population are increasingly unable to afford adequate housing.
Hong Kong continues to link its currency closely to the US dollar, maintaining
an arrangement established in 1983.
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Source
: CIA |
ARSHING PHARMACEUTICAL CO.
LTD.
c/o Hongkong Zhongfu Int’l Investment Ltd.
Unit C, 2/F., Wah Lai Building, 2 Lo Lung Hang Street, Hunghom, Kowloon,
Hong Kong.
PHONE: 852-3078 8800
FAX: 852-3182 8500
Managing Director: Mr. Chen
Aiping
Incorporated on: 5th August, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ARSHING PHARMACEUTICAL CO.
LTD.
Registered Office:-
c/o Hongkong Zhongfu Int’l Investment Ltd.
Unit C, 2/F., Wah Lai Building, 2 Lo Lung Hang Street, Hunghom, Kowloon,
Hong Kong.
Associated Companies:-
Arshine Technology Co. Ltd., Hong Kong.
Global Pet Products Co. Ltd., Hong Kong.
Shenzhen Arshine Pharmaceutical Co. Ltd.
Room 1604, Block C, Perfect Garden (Jialin Haoting), 2001 Shennan Road,
Futian, Shenzhen Special Economic Zone, China.
[Tel: +86 755 33330822/0825 Fax:
+86 755 82879323
Email: marketing@arshing.com.cn]
52736352
1489693
Managing Director: Mr. Chen
Aiping
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 05-08-2012)
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Name |
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No. of shares |
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CHEN Aiping |
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10,000 ===== |
(As per registry dated 05-08-2012)
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Name (Nationality) |
Address |
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CHEN Aiping |
Rencaishichang Building, Baoanbei Road, Luohu District, Shenzhen City,
Guangdong Province, China. |
(As per registry dated 05-08-2012)
|
Name |
Address |
Co. No. |
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Hongkong Zhongfu Int’l Investment Ltd. |
Unit C, 2/F., Wah Lai Building, 2 Lo Lung Hang Street, Hunghom,
Kowloon, Hong Kong. |
1427385 |
The subject was incorporated on 5th August, 2010 as a private limited liability
company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Pharmaceuticals,
pharmaceuticals for animals, food additives, products for pets.
Employees: Nil.
Commodities Imported: India,
Europe, other Asian countries, etc.
Markets: China,
other Asian countries, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C or as per contracted.
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: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Arshine
Pharmaceutical Co., Ltd. is wholly owned by Mr. Chen Aiping who is a China
merchant.
He is a China ID holder and does not have the right to reside in Hong Kong
permanently. He is also the only
director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Unit C, 2/F., Wah Lai Building, 2 Lo Lung Hang Street,
Hunghom, Kowloon, Hong Kong” known as “Hongkong Zhongfu Int’l Investment Ltd.”
[Zhongfu] which is handling its correspondences and documents. This company is also the corporate secretary
of the subject.
Your given phone number 852-3078 8800 belongs to Zhongfu.
The subject has no employees in Hong Kong. It has had an associated company which is
known as Shenzhen Arshine Pharmaceutical Co. Ltd. [Shenzhen Arshine] in
Shenzhen Special Economic Zone, China.
Shenzhen Arshine is a trading house mainly providing veterinary pharmaceuticals
and premixes, human use API and Vitamins.
Among those pharmaceuticals, it is specialized in popular used
anti-biotic such as Doxycycline Hcl, Oxytetracycline Hcl/Base, Ciprofloxacin
Hcl/Base, Enrofloxacin Base/Hcl, Tylosin Tartrate/Phosphate, Lincomycin Hcl,
Penicillin G Procaine non-sterile/sterile.
It has more than 880 GMP manufacturers providing over 50 fine chemicals
with competitive price mainly exporting to Southeast Asia and east European
market.
Shenzhen Arshine aims to be one of the most competitive trading company
in China for veterinary anti-biotic.
The subject has had another associated company Global Pet Products Co.
Ltd. [GPP] which is a Hong Kong-registered firm.
GPP was established in Shenzhen SEZ in 2006. It started as a sourcing agent for Global Pet
Romania. Its products include pet cages,
aquariums, cleaning products, pet toys, pet beds. The legal representative of GPP is also Chen
Aiping.
The subject’s business in Hong Kong is not active. History in Hong Kong is over three 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 L/C basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.54 |
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1 |
Rs.94.37 |
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Euro |
1 |
Rs.81.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.