|
Report Date : |
06.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALLMED
MEDICAL PRODUCTS CO.
LTD. |
|
|
|
|
Registered Office : |
c/o CL.COM Ltd., 13/F., Chun Hoi Commercial Building, 688-690 Shanghai Street, Mongkok, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
07.11.1997 |
|
|
|
|
Com. Reg. No.: |
21347706 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
manufacturers
and exporters of medical dressing products in China |
|
|
|
|
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 (31.03.2012) |
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 |
ALLMED MEDICAL PRODUCTS CO. LTD.
Registered
Office:-
c/o CL.COM Ltd.
13/F., Chun Hoi Commercial Building, 688-690 Shanghai Street, Mongkok, Kowloon, Hong Kong.
Holding Company:-
Shanhai International Holdings Ltd., Hong Kong.
Headquarters:-
Shenzhen Allmed Medical Products Co. Ltd., China.
China Factories:-
Dongguan Allmed Medical Products Co. Ltd., China.
Hubei Allmed Textile Co. Ltd., China.
Yichang Allmed Medical Products Co. Ltd., China.
Zhijiang Allmed Medical Products Co. Ltd., China.
21347706
0629282
7th November, 1997.
Nominal Share Capital: HK$20,000,000.00 (Divided into 20,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$20,000,000.00
(As per registry
dated 07-11-2012)
|
Name |
Occupation |
No.
of shares |
|
Shanhai International
Holdings Ltd., Hong Kong. |
Corporation |
20,000,000 ======== |
(As per registry
dated 07-11-2012)
|
Name (Nationality) |
Address |
|
CHEN Hao Hua |
Flat 401, 35 Cheng Dong
Street, Dong Men Zhong Road, Shenzhen, China. |
|
CHENG Hong |
Development & Research
Institute Quarter, Shangbu, Zhong Road, Shenzhen, China. |
|
DU Xian Ju |
26 Jin Wan Dai Xiang, Yue Kou
Zhen, Tianmen City, Hubei Province, China. |
|
CUI Jin Hai |
47 Jian She Nan Road, Yue Kou
Zhen, Tianmen City, Hubei Province, China. |
(As per registry
dated 07-11-2012)
|
Name |
Address |
Co.
No. |
|
CL.COM Ltd. |
13/F., Chun Hoi Commercial Building, 688-690 Shanghai
Street, Mongkok, Kowloon, Hong Kong. |
0703374 |
US$3,000,000.00 (Total amoun outstanding on all mortgages and charges as per last Annual Return dated 07-11-2012)
(See attachment)
Allmed Medical Products Co. Ltd. was incorporated on 7th November, 1997 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at 13/F., Chun Hoi Commercial Building, 688-690 Shanghai Street, Mongkok, Kowloon, Hong Kong known as “CL.COM Ltd.” which is handling its correspondences and documents. CL.COM Ltd. is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject had issued 1 million ordinary shares of HK$1.00 each which were jointly owned by six China merchants. The largest shareholder was Mr. Cui Jin Hai, holding 49.6% interest, and the second largest was Mr. Chen Hao Hua, holding 21.5%. All the shareholders resided in China.
Now, the subject’s issued ordinary share was up to 2 million. Its holding company has changed to Shanhai International Holdings Ltd. which is a Hong Kong-based firm.
To our knowledge, the subject’s headquarters are in Shenzhen Special Economic Zone known as Shenzhen Allmed Medical Products Co. Ltd. [Allmed].
Allmed was founded in 1992.
With over 16 years of experiences in this industry, it has grown to be a
one of the leading manufacturers and exporters of medical dressing products in
China. Allmed is specialized in manufacturing absorbent cotton Woven
Gauze Swabs series and Non-woven
sponges series medical dressings.
Based on market needs and development goals, Allmed is starting
hi-tech medical dressing and hairdressing nurturing materials, apart from
various types of sponges,
laparotomy sponges, post-op sponges, exodontias sponges, Non-woven sponges,
drain sponge, Nonstick Pads and Dressing Pack, Maternity pads
and so on. After 20 years of
development, Allmed has become a main manufacturer and exporter of medical
dressings in China.
In complying with FDA
and GMP requirements, Allmed actively carries out and uses international
management standards. It has got the
following certifications: ISO13485:2003, ISO9001:2008, ISO17665:2006,
ISO11135:2007 and MDD93/42/EEC(CE).
Allmed has
successfully entered international markets, such as America, Canada, Europe,
Africa and the Middle East. Meanwhile,
Allmed has established a stable and close business relationship with many
domestic and overseas clients.
The company is
headquartered in Shenzhen, and is located at 19F, Hanggang Fuchun Business
Mansion, No. 6031 Shennan Road Central.
It is the administrative, marketing and sales centre, and is also the
centre of finance and operation of the whole group.
Allmed has got two subsidiaries: Dongguan Allmed Medical Products Co. Ltd. and Zhijiang Allmed Medical Products Co. Ltd. The former is in Dongguan City, Guangdong Province, while the latter is in Yichang City, Hubei Province, China.
These two firms have
a total production area of 70,000 sq.m. and 2,400 employees. The total production capacity is 3,000
containers per year.
Allmed also has the following two associated
firms in China:-
· Yichang Allmed Medical Products Co., Ltd.
·
Hubei
Allmed Textile Co., Ltd.
Allmed wants to be a global professional manufacturer and supplier of medical dressing products and will become one of the top three in this industry.
The history of the subject in Hong Kong is over 35 years in Hong Kong.
On the whole, since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.
|
Date |
Particulars |
Amount |
|
21-04-2008 |
Instrument: Charge Over Assets Property: All the Company’s present and future rights, title and interest in and to and pledges the Charged Assets Mortgagee: UBS AG, Switzerland. |
Secured Indebtedness |
|
05-05-2008 |
Instrument: Security Over Deposits Property: A deposit with chargee in the amount of US$3,000,000 under Deposit A/C No. 808-057442, whatever currency it may subsequently be denominated in, any renewal of such deposit and the interest thereon together with any further monies in any deposit account with the chargee at any of its offices Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
Amount secured – (i) all monies in any currency owing
by the Company to the chargee at any time, actually or contingently, in any
capacity, alone or jointly with any other person; (ii) interest on such
monies, to the date on which the chargee receives payment, at the rates
payable by the Company or which would have been payable but for any
circumstance which restricts payment and (iii) all expenses of the chargee in
perfecting or enforcing the charge |
|
07-08-2009 |
Instrument: Charge Over Deposits - CD 2 (09) Property: 1. By fixed charge: all the Company’s rights in respect of the following: (i) the sum(s) deposited by the Company or for its benefit in the account(s) or as evidence by deposit instruments(s) or other evidence of indebtedness specified in the annexed schedule, including additions to or renewals or replacements of such sums in any currency; and (ii) all other sums in any currency from time to time standing to the credit of the Company or the credit of any other person for the Company’s benefit whether alone or jointly with others on any deposit account with the Bank or any other SCB Group Company including additions to or renewals or replacements of such sum(s). 2. By assignment: all deposits held with any SCB Group Company. Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure the payment or discharge of all moneys,
obligations and liabilities |
|
07-08-2009 |
Instrument: Charge Over Securities - Section 1 (05) Property: 1. All the Company’s rights, title and interest: (a) all stocks, shares, bonds, debentures, certificates of deposit, promissory notes, units in any trust, units or other interests in any collective investment scheme and other securities and (b) all securities; 2. All rights in relation to any Securities; 3. All dividends, interest or other distributions paid or to be paid on any of the Securities and the Rights and all the allotments, accretions, offers, rights, benefits and advantages. Mortgagee: Standard Chartered Bank (Hong Kong) Ltd.,
Hong Kong. |
All moneys, obligations and liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.65 |
|
UK Pound |
1 |
Rs.82.66 |
|
Euro |
1 |
Rs.71.21 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.