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Report Date : |
25.01.2013 |
IDENTIFICATION DETAILS
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Name : |
CENTURY PHARMACEUTICALS LTD. |
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Registered Office : |
C/o Asiapac Consultants Ltd. Room 801-802, 8/F., Easey Commercial Building, 253-261 Hennessy Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.11.2007 |
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Com. Reg. No.: |
38677560 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of pharmaceuticals, etc. |
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No. of Employees : |
Not Available |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Hong Kong |
A2 |
A2 |
|
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'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 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the 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 28 million in 2011, 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 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% 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. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. 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.
Source
: CIA
CENTURY PHARMACEUTICALS LTD.
ADDRESS: c/o Asiapac Consultants Ltd.
Room 801-802, 8/F., Easey Commercial
Building, 253-261 Hennessy Road, Wanchai, Hong Kong.
PHONE: 2369 5502
FAX: 2668 6025
Managing Director: Mr. Lou Yike
Incorporated on: 16th
November, 2007.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employee: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Asiapac Consultants Ltd.
Room 801-802, 8/F., Easey Commercial Building, 253-261 Hennessy Road,
Wanchai, Hong Kong.
Associated Companies:-
Chemexcel International Ltd., Hong Kong.
Shanghai Chemexcel International Ltd., China.
38677560
1186481
Managing Director: Mr. Lou Yike
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 16-11-2012)
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Name |
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No. of shares |
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LOU Yike |
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10,000 ===== |
(As per registry dated 16-11-2012)
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Name (Nationality) |
Address |
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LOU Yike |
358 Hongfeng Road #15-102, Shanghai 201206, China. |
(As per registry dated 16-11-2012)
|
Name |
Address |
Co. No. |
|
Asiapac Consultants Ltd. |
Room 801-802, 8/F., Easey Commercial Building, 253-261 Hennessy Road,
Wanchai, Hong Kong. |
0458439 |
The subject was incorporated on 16th November, 2007 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: All
kinds of pharmaceuticals, etc.
Employee: Nil.
Commodities Imported: Imports raw materials from European countries, some of the Asian
countries and finished products from China.
Markets: China,
other Asian countries, Europe, North America, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: Prepayment,
L/C, etc.
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, Century
Pharmaceuticals Ltd. is wholly owned by Mr. Lou Yike. He is a Canada passport holder and does not
have the right to reside in Hong Kong permanently. He is also the only director of the
subject. Currently he is residing in
Shanghai, China.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room 801-802, 8/F., Easey Commercial Building, 253-261
Hennessy Road, Wanchai, Hong Kong” known as “Asiapac Consultants Ltd.”
[Asiapac] which is handling its correspondences and documents. This firm is also the corporate secretary of
the subject.
The subject has no employee in Hong Kong.
The subject has had an associated company Chemexcel International Ltd.
[Chemexcel] which is a Hong Kong-registered firm. The subject and Chemexcel are engaged in the
same lines of business. The registered
address of Chemexcel is also in the office of Asiapac. Chemexcel was incorporated in Hong Kong on
18th May, 2001.
Lou Yike is operating another firm known as Shanghai Chemexcel
International Ltd. [Shanghai Chemexcel] in Shanghai, China. Lou is also the owner of Shanghai Chemexcel.
Shanghai Chemexcel is trading in all kinds of pharmaceuticals and
chemicals. Commodities are chiefly
sourced from Shanghai. It also trades in
chemical raw materials which are imported from Europe. Prime markets are China, other Asian
countries, the United States and Canada.
It is likely that Shanghai Chemexcel is dealing with foreign parties
under the name of the subject.
The subject’s business in Hong Kong is not active. History in Hong Kong is over five years.
Since the subject does not have its own operating office and has no
employee in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
|
1 |
Rs.85.25 |
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Euro |
1 |
Rs.71.72 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
-- |
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.