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Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
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Name : |
MR INVESTMENTS (HK) LTD. |
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Registered Office : |
Hong Kong Accountant Co. Room 2813-14, 28/F., |
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Country : |
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Date of Incorporation : |
09.01.2007 |
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Com. Reg. No.: |
37545540 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of medical equipment |
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No of Employees : |
1 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: 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, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy. 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 12% of total system deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies
|
Source
: CIA |
MR INVESTMENTS
(HK) LTD.
ADDRESS: Hong Kong Accountant Co.
Room 2813-14,
28/F., Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong.
PHONE: 852-2240 7123
FAX: Not available.
Managing Director: Mr. Cheng
Minghe
Incorporated on: 9th January, 2007.
Organization: Private Limited
Company.
Capital: Nominal: HK$2,000,000.00
Issued: HK$2,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Group Revenue: US$1,213,987,000.00 (Year ended 31-12-2013)
Employee: 1.
Main Dealing Banker: Nanyang
Commercial Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
MR INVESTMENTS
(HK) LTD.
Registered Head
Office:-
Hong Kong Accountant Co.
Room 2813-14, 28/F., Convention Plaza, 1 Harbour Road, Wanchai, Hong
Kong.
Shenzhen
Headquarters:-
Mindray Building, Keji 12th Road South, Hi-tech Industrial Park,
Nanshan, 518057 Shenzhen Special Economic Zone, China.
Holding Company:-
Mindray Medical International Ltd., British West Indies.
Subsidiary
Companies:-
Beijing Precil Instrument Co. Ltd., China.
Beijing Shen Mindray Medical Electronics Technology Research Institute
Co. Ltd., China.
Chengdu Shen Mindray Medical Electronics Technology Research Institute
Co. Ltd., China.
Facai Immobilier, France.
Hangzhou Optcla Medical Instrument Co. Ltd., China.
Hunan Changsha Tiandiren Biotech Co. Ltd., China.
Mindray - Distribution and Commercialization of Medical Equipment Brazil
Ltda., Brazil.
Mindray (UK) Ltd., UK.
Mindray Bio-Medical Electronics Nigeria Ltd., Nigeria.
Mindray Bio-Medical Venezuela C.A., Venezuela.
Mindray DS USA Inc., US.
Mindray Global Ltd., BVI.
Mindray Investments Singapore Pte. Ltd., Singapore.
Mindray Medical (M) Sdn.Bhd., Malaysia.
Mindray Medical Australia (Holdings) Pty Ltd., Australia.
Mindray Medical Australia Pty Ltd., Australia.
Mindray Medical Canada Ltd., Canada.
Mindray Medical Colombia S.A.S, Colombia.
Mindray Medical Egypt Ltd., Egypt.
Mindray Medical Espana S.L., Spain.
Mindray Medical France SARL, France.
Mindray Medical Germany GmbH, Germany.
Mindray Medical India Private Ltd., India.
Mindray Medical Italy S.r.l., Italy.
Mindray Medical Mexico S de R.L.de C.V., Mexico.
Mindray Medical Netherlands B.V., The Netherlands.
Mindray Medical Panama S.DE R.L., Panama.
Mindray Medical Peru SAC, Peru.
Mindray Medical Rus Ltd., Russia.
Mindray Medical Sweden AB, Sweden.
Mindray Medical Technology Istanbul Ltd. Liability Co., Turkey.
Mindray Medical Thailand Ltd., Thailand.
Mindray Medical Vietnam Co. Ltd., Vietnam.
Mindray Research and Development Ltd., BVI.
MR Holdings (HK) Ltd., Hong Kong.
Nanjing Mindray Bio-Medical Electronics Co., Ltd.
PT Mindray Medical Indonesia, Indonesia.
Shanghai Medical Optical Instruments Factory Co. Ltd., China.
Shen Mindray (Beijing) Medical Technology Co. Ltd., China.
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., China.
Shenzhen Mindray Investment & Development Co. Ltd., China.
Shenzhen Mindray Software Technology Co. Ltd., China.
Shenzhen Shenke Medical Instrument Technical Development Co. Ltd.,
China.
Suzhou Hyssen Electronic Technology Ltd., China.
Wuhan Dragonbio Surgical Implant Co. Ltd., China.
Xi’an Shen Mindray Medical Electronics Technology Research Institute Co.
Ltd., China.
Zenith Medical Systems Brazil, Brazil.
Zenith Medical Systems Canada Ltd., Canada.
Zenith Medical Systems GMBH, Germany.
Zenith Medical Systems UK Ltd., UK.
Zenith Medicinska Systems AB, Sweden.
Zhejiang Greenlander Info. Tech Co. Ltd., China.
ZONARE Medical Systems Inc., US.
37545540
1100899
Managing Director: Mr. Cheng
Minghe
Nominal Share Capital: HK$2,000,000.00
(Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
(As per registry
dated 06-11-2013)
|
Name |
|
No. of shares |
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Mindray Medical International Ltd. Centry Yard, Cricket Square, Hutchuns Drive, P.O. Box 2681 GT, George Town,
Grand Cayman, British West Indies. |
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2,000,000 ======= |
(As per registry
dated 01-05-2014)
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Name (Nationality) |
Address |
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CHENG Minghe |
D1-12 Gui Gu Villa, Sha He Road West, Nanshan District, Shenzhen,
China. |
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LI Xiting |
38-101 Ban Shan Hai Jing, Shekou, Shenzhen 518067, China. |
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XU Hang |
2A3B Bi Hai Yun Tian, Qiao Cheng Dong Road, Shenzhen 518053, China. |
(As per registry
dated 09-01-2013)
|
Name |
Address |
|
LUNG Chi Sing, Alex |
Room 2813-2814, 28/F., Convention Plaza, 1 Harbour Road, Wanchai, Hong
Kong. |
The subject was incorporated on 9th January, 2007 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of medical equipment, etc.
Employee: 1.
Commodities Imported: China,
Europe, etc.
Markets: China,
other Asian countries, Europe, North America, etc.
Group Revenue: US$ 634,183,000.00 (Year ended 31-12-2009)
US$
704,309,000.00 (Year ended
31-12-2010)
US$ 880,743,000.00 (Year ended 31-12-2011)
US$1,060,054,000.00 (Year ended 31-12-2012)
US$1,213,987,000.00 (Year ended 31-12-2013)
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$2,000,000.00
(Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
Mortgage or Charge: (See attachment)
Group Net Income: US$139,188,000.00 (Year ended 31-12-2009)
US$155,466,000.00 (Year ended 31-12-2010)
US$166,925,000.00 (Year ended 31-12-2011)
US$182,282,000.00 (Year ended 31-12-2012)
US$203,547,000.00 (Year ended 31-12-2013)
Profit or Loss: Group
business is profitable.
Condition: Group
business is active.
Facilities: Making rather
active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
Nanyang Commercial Bank Ltd., Hong Kong.
Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Small.
MR Investments (HK) Ltd. is a wholly-owned subsidiary of Mindray Medical
International Ltd. which is registered in the British West Indies. Its ultimate holding company, bearing the
same name [Group], was registered in the Cayman Islands. The headquarters of the Group are in Nanshan
District, Shenzhen Special Economic Zone, China.
The directors of the subject are Mr. Cheng Minghe, Mr. Li Xiting and Mr.
Xu Hang.
The subject has a subsidiary company in Shenzhen Special Economic Zone,
China known as Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
The subject is trading in the following commodities:
Patient Monitoring and Life Support Products
The Array VP5 infusion pump;
The BeneHeart D1 defibrillator;
The BeneHeart R3 and R12 electrocardiographs (ECG); &
The VS-600 and VS-900 patient monitors.
In-vitro Diagnostic Products
The BC-5000 hematology analyzer; &
The CL-2000i chemiluminescence immunoassay system.
Medical Imaging Systems
The DC-N2 ultrasound system; &
The DigiEye 280 radiography system.
The Group has its production facilities in Shenzhen Special Economic
Zone and Nanjing, China.
The Group’s products are sold in China primarily through its nationwide
distribution and sales network. As of
31st December, 2013, the Group had over 1,500 distributors. As of 31st December, 2013, it had more than
2,000 sales, marketing and services personnel managing its distribution
network and covering the direct sales activities in the China region, located
in 32 offices in China.
In China, the Group also sell its products directly to hospitals,
clinics, government health bureaus, and to ODM and OEM customers.
The Group primarily sells to two categories of customers: distributors,
who sell through its distribution and sales network, and hospitals and government
agencies to whom it sells directly. Its
customer base is widely dispersed both on a revenues and geographic basis. Its ten largest customers based on net
revenues collectively accounted for 8.5%, 5.2% and 4.8% of its net revenues in
2011, 2012 and 2013, respectively.
In several of the countries where it has direct sales, particularly the
United States, the United Kingdom, France, Germany and the Netherlands, it
provides substantial after-sales services including extended warranty services,
sales of accessories and repair-services for post warranty period.
In its other international markets, it relies on its distributors to
provide after‑sales services, and provide extended warranty services for
certain components of its products.
For the year ended 31st December, 2013, the revenue of the Group
amounted to US$1,214.0 million (2012: US$1,060.1 million), net income for the
year was US$203.5 million (2012: US$182.3 million).
As at end of 2013, the Group had 7,900 employees.
The subject is fully supported by the Group, however, the subject’s
business in Hong Kong is not active.
History in Hong Kong is over seven years.
Since the subject does not have its own operating office in Hong Kong,
consider it good for business engagements on L/C basis or in small credit
amounts.
|
Date |
Description
of Instrument |
Mortgagee |
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31-05-2011 |
Deed of Indemnity, Charge Over Deposit(s) and Set-Off |
Bank of China Ltd., Hong Kong Branch. |
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31-05-2011 |
Deed of Indemnity, Charge Over Deposit(s) and Set-Off |
Bank of China Ltd., Hong Kong Branch. |
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18-06-2013 |
Charge on Deposit(s) |
Nanyang Commercial Bank Ltd., Hong Kong. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 60.86 |
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|
1 |
Rs. 102.67 |
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Euro |
1 |
Rs. 81.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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 |
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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.