|
Report Date : |
28.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
GREATWALL IMPEX LTD. |
|
|
|
|
Registered Office : |
C/o Advanced Secretaries Ltd. Room 1209-1210, 12/F., Fortress Tower, 250 King’s Road, North Point |
|
|
|
|
Country : |
Hong Kong. |
|
|
|
|
Date of Incorporation : |
28.10.2008 |
|
|
|
|
Com. Reg. No.: |
39936739 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
The subject is an organic chemical product and pharmaceutical trader. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating Office in Hong Kong |
|
Payment Behaviour : |
Unknown |
|
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) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
GREATWALL IMPEX
LTD.
Address: c/o
Advanced Secretaries Ltd.
Room 1209-1210, 12/F., Fortress Tower,
250 King’s Road, North Point,
Hong Kong.
(Formerly located at:
c/o TAKA Corporate Consulting Ltd.
Room 1701, 17/F., Henan Building,
90 Jaffe Road, Wanchai,
Hong Kong. )
Holding Company:-
Emsons Organics Private Ltd., India.
Ultimate Holding Company:-
Surya Pharmaceutical Ltd., India.
Associated Companies:-
Emm Bee Fincap Pvt Ltd., India.
Ess Ess Exim Pvt. Ltd., India.
Futuristics Garments Pvt. Ltd., India.
Mediwell Healthcare Ltd., India.
Raja Forgings & Gears Ltd., India.
Surya Automotives Ltd., India.
Surya Biopharma USA Inc., USA.
Surya Healthcare Ltd., India.
Surya Healthway Ltd., India.
Surya Mediwell Ltd., India.
Surya Pharmaceutical (Singapore) Pte. Ltd., Singapore.
Surya Pharmaceutical Inc., USA.
Surya Softedge Ltd., India.
Surya Tradewings Pvt. Ltd., India.
Surya World Educational Research, India.
Value Edutech Ltd., India.
39936739
1283074
28th October, 2008.
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 28-10-2012)
|
Name |
|
No. of shares |
|
Emsons Organics Ltd. Village Faridpur, Tehsil Rajpura, District Patiala,
Punjab 140602, India. |
|
10,000 ===== |
(As per registry dated 28-10-2012)
|
Name (Nationality) |
Address |
|
Suhail GOYAL |
HNO.64, Sector. 9-A, Chandigarh (UT), India. |
(As per registry dated 28-10-2012)
|
Name |
Address |
Co. No. |
|
Advance Secretaries Ltd. |
Room 1209-1210, 12/F., Fortress Tower, 250 King’s Road, North
Point, Hong Kong. |
0045516 |
Greatwall Impex Ltd. was incorporated on 28th October, 2008 as a private
limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Room 1701,
17/F., Henan Building, 90 Jaffe Road, Wanchai, Hong Kong where is the
operating address of a commercial service provider TAKA Corporate Consulting
Ltd. The phone number of this firm is
3115 8811. The subject moved to the
present address in August, 2010 as it has changed its commercial service
provider since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Greatwall Impex Ltd. was incorporated on 28th October, 2008 as a private
limited liability company.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Room 1209-1210, 12/F., Fortress Tower, 250 King’s Road,
North Point, Hong Kong known as Advanced Secretaries Ltd. [ASL] which is
handling its correspondences and documents.
ASL is also the corporate secretary of the subject.
Your given phone number and fax number 3115 8811 and 3115 8812 belong to
TAKA Corporate Consulting Ltd. which was the old secretary of the subject.
The subject has no employee in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
10,000 ordinary shares of HK$1.00 each of which are wholly-owned by Emsons
Organics Ltd. [Emsons] which is an India-based firm. Emsons is in Punjab, India. Emsons is a subsidiary company of Surya
Pharmaceutical Ltd. [Surya/Group], also an India-based firm.
The new director of the subject Suhail Goyal is an India passport holder
and currently residing in India. His
e-mail address is sunhailgoyal@gmail.com.
The subject is an organic chemical product and pharmaceutical trader.
Surya is a listed firm in India.
Surya was established in 1992, with a vision towards Empowering Life and
well being, and has rapidly emerged as the premier integrated pharmaceuticals
company in India. Its business focuses
on Contract Manufacturing, Custom Synthesis, FTE Research, and the manufacture
and marketing of pharmaceuticals products and services to clients across the
globe, and its product portfolio includes a range of Active Pharmaceutical
Ingredients (APIs), Fine Intermediates, Finished Drug Formulations (FDFs),
Phyto Pharmaceuticals and CRAMS.
For the year ended 31st March, 2012, the sales of the Group amounted to
INR 17,126.6 million, grew by 3.1% as compared with that of INR 16,619.3
million in FY 2011; loss for the year was INR 3,047.9 million as compared with
a profit of INR 927.9 million in FY 2011.
The business of the Group was good in FY 2011, however, it suffered from
a great loss in FY 2012.
The Group has been requested by bank to carry out Corporate Debt
Restructuring [CDR] due to its cash flow problem.
It is likely that Emsons deals with foreign parties under the name of
the subject and let foreign firms correspond with the subject’s registered
address in Hong Kong.
The subject’s business in Hong Kong is not very active. History in Hong Kong is just over four
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 |
|
Euro |
1 |
Rs.71.72 |
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.