MIRA
INFORM REPORT
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Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
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Name : |
RESEARCH PHARMACEUTICAL LIMITED |
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Registered Office : |
Floor 21c Qianjiang Building, No. 971 Dongfang Road Pudong New Zone, Shanghai 200122 Pr |
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Country : |
China |
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Date of Incorporation : |
10.03.2005 |
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Com. Reg. No.: |
310115500100172 |
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Legal Form : |
Representative Office |
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Line of Business : |
Subject engaged in trade liaison for importing and exporting pharmaceutical raw materials, pesticide and plant extracts. |
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No. of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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China |
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 |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed,
centrally planned system to a more market-oriented one that plays a major
global role - in 2010 China became the world's largest exporter. Reforms began
with the phasing out of collectivized agriculture, and expanded to include the
gradual liberalization of prices, fiscal decentralization, increased autonomy
for state enterprises, creation of a diversified banking system, development of
stock markets, rapid growth of the private sector, and opening to foreign trade
and investment. China has implemented reforms in a gradualist fashion. In
recent years, China has renewed its support for state-owned enterprises in
sectors it considers important to "economic security," explicitly looking
to foster globally competitive national champions. After keeping its currency
tightly linked to the US dollar for years, in July 2005 China revalued its
currency by 2.1% against the US dollar and moved to an exchange rate system
that references a basket of currencies. From mid 2005 to late 2008 cumulative
appreciation of the renminbi against the US dollar was more than 20%, but the
exchange rate remained virtually pegged to the dollar from the onset of the
global financial crisis until June 2010, when Beijing allowed resumption of a
gradual appreciation. The restructuring of the economy and resulting efficiency
gains have contributed to a more than tenfold increase in GDP since 1978.
Measured on a purchasing power parity (PPP) basis that adjusts for price
differences, China in 2012 stood as the second-largest economy in the world
after the US, having surpassed Japan in 2001. The dollar values of China's
agricultural and industrial output each exceed those of the US; China is second
to the US in the value of services it produces. Still, per capita income is
below the world average. The Chinese government faces numerous economic
challenges, including: (a) reducing its high domestic savings rate and
correspondingly low domestic demand; (b) sustaining adequate job growth for
tens of millions of migrants and new entrants to the work force; (c) reducing
corruption and other economic crimes; and (d) containing environmental damage
and social strife related to the economy's rapid transformation. Economic development
has progressed further in coastal provinces than in the interior, and by 2011
more than 250 million migrant workers and their dependents had relocated to
urban areas to find work. One consequence of population control policy is that
China is now one of the most rapidly aging countries in the world.
Deterioration in the environment - notably air pollution, soil erosion, and the
steady fall of the water table, especially in the North - is another long-term
problem. China continues to lose arable land because of erosion and economic
development. The Chinese government is seeking to add energy production
capacity from sources other than coal and oil, focusing on nuclear and
alternative energy development. In 2010-11, China faced high inflation
resulting largely from its credit-fueled stimulus program. Some tightening
measures appear to have controlled inflation, but GDP growth consequently
slowed to under 8% for 2012. An economic slowdown in Europe contributed to
China's, and is expected to further drag Chinese growth in 2013. Debt overhang
from the stimulus program, particularly among local governments, and a property
price bubble challenge policy makers currently. The government's 12th Five-Year
Plan, adopted in March 2011, emphasizes continued economic reforms and the need
to increase domestic consumption in order to make the economy less dependent on
exports in the future. However, China has made only marginal progress toward
these rebalancing goals.
Source
: CIA
Company name and address
RESEARCH PHARMACEUTICAL LIMITED
SHANGHAI REPRESENTATIVE OFFICE
FLOOR 21C QIANJIANG BUILDING, NO. 971 DONGFANG ROAD
PUDONG NEW ZONE, SHANGHAI 200122 PR CHINA
TEL: 86 (0) 20-68406232
FAX: 86 (0) 20-68406233
***Note: According
to the, we locate SC.
SC is only a
representative office in mainland China, while Research Pharmaceutical Limited
(the given name) is SC’s parent company registered in Hong Kong.
EXECUTIVE SUMMARY
Date of Registration : march 10, 2005
REGISTRATION NO. : 310115500100172
LEGAL FORM : REPRESENTATIVE OFFICE
REGISTERED CAPITAL : n/a
staff :
7
BUSINESS CATEGORY : liasion service
Revenue :
n/a
EQUITIES :
n/a
WEBSITE : n/a
E-MAIL :
n/a
PAYMENT :
not yet be determined
MARKET CONDITION : fair
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.13 = USD 1
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was established
as a representative office of PRC with State Administration of Industry &
Commerce (SAIC) under registration No.: 310115500100172 on March 10, 2005.
SC’s Organization Code Certificate No.:
77244022-5
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registration No. |
14612 |
310115500100172 |
Current Co search indicates SC’s parent company & chief executives
are as follows:-
|
Name of Parent Company |
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Research Pharmaceutical Limited (Hong Kong) |
SC’s Chief Executives:-
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Position |
Name |
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Chief Representative |
Li Meifen |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
PRARENT COMPANY
Name
Research Pharmaceutical Limited (Hong Kong)
---------------------------------
Research
Pharmaceutical Limited is a comprehensive company which focuses on medical-related businesses
both home and abroad.
Web: www.researchpharmaceutical.com
*Registration*
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CR No.: 0712318
Date of Registration: April 12, 2000
Legal Form: Private
Status: Live
Registered Address: 2706 Natwest Tower, Times Square, 1 Matheson Street,
Causeway Bay, Hong Kong
*Directors*
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Jairo Alfonso Escobar Ramirez
Passport No.: CC 16627602
Cesar Orrego Echeverry
Passport No.: CC-16764635
Susana Helena Ortega Peterson
Passport No.: CC31281137
MANAGEMENT
Li Meifen , Chief Representative
----------------------------------------------------
Ø
Gender: F
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as chief representative
BUSINESS OPERATION
SC’s registered business scope includes engaged in non-profit business
activities related with its parent company
SC is mainly
engaged in trade liaison for importing and exporting pharmaceutical raw
materials, pesticide and plant extracts.
The products
mainly include:
Active
Pharmaceutical Ingredients (API)
Excipients
Pharmaceutical
Packaging
Natural Products
Staff & Office:
--------------------------
SC is known
to have approx. 7 staff at
present.
SC rents an area
as its operating office of approx. 127 sq. meters at the heading address.
RELATED COMPANY
SC is not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good ( ) Average ( ) Fair ( ) Poor (X) Not yet be determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment experience (through current enquiry with SC's
suppliers), our delinquent payment and our debt collection record concerning
SC.
Trade payment experience: N/a
Delinquent payment record: None in our
database.
Debt collection record: No overdue amount
owed by SC was placed to us for collection within the last 6 years.
BANKING
Basic Bank
Industrial and Commercial Bank of China Shanghai Lujiazui Sub-branch
AC#: N/a
FINANCIALS
As a representative office, SC is not allowed
to engage in direct business. All its expenses are supposed to be provided by
its parent company. Therefore, its financials are not available.
CONCLUSIONS
SC is a representative office, which is not engaged in direct business.
Taking into consideration of SC’s development history, background and operation
size, credit dealings with SC should be confined into small amount at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.39 |
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1 |
Rs.94.17 |
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Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.