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Report Date : |
26.08.2014 |
IDENTIFICATION DETAILS
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Name : |
ALLMED MEDICAL PRODUCTS CO.
LTD. |
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Registered Office : |
c/o CL.COM Ltd., 13/F., |
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Country : |
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Date of Incorporation : |
07.11.1997 |
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Com. Reg. No.: |
21347706 |
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Legal Form : |
Private Limited Liability 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 : |
No employees in Hong Kong Note: It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there. |
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 |
ALLMED MEDICAL
PRODUCTS CO. LTD.
ADDRESS: c/o CL.COM Ltd.
13/F., Chun Hoi
Commercial Building, 688-690 Shanghai Street, Mongkok, Kowloon, Hong Kong.
PHONE: 852-2308 1318
FAX: 852-2397 8899
Managing
Director: Mr. Cui Jin Hai
Incorporated
on: 7th November, 1997.
Organization: Private Limited Company.
Capital:
Nominal: HK$20,000,000.00
Issued: HK$20,000,000.00
Business Category: Medical Equipment Trader.
Group
Turnover: RMB1.5-1.8 billion Yuan.
Employees: Nil.
Main Dealing
Banker: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ALLMED MEDICAL PRODUCTS CO. LTD.
ADDRESS:
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. (Same address)
Headquarters:-
Shenzhen Allmed
Medical Products Co. Ltd.
19/F., Block A,
Taurus Plaza, 8 Taoyuan Road, Nanshan District, Shenzhen Special Economic Zone,
China.[Tel: 86-755-8829 9300, 8829 9311
Fax: 86-755-8829 9325
E-mail: amd-adm@allmed.cn ]
Associates/China
Factories:-
Dongguan Allmed
Medical Products Co. Ltd., China.
Hubei Allmed
Textile Co. Ltd., China.
Shenzhen Allmed
Trading Development Co. Ltd., China.
[Tel: 86-755-8369
5202, Fax: 86-755-8369 5210]
Yichang Allmed
Medical Products Co. Ltd., China.
Zhijiang Allmed
Medical Products Co. Ltd., China.
21347706
0629282
Managing
Director: Mr. Cui Jin Hai
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 07-11-2013)
|
Name |
Occupation |
No.
of shares |
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Shanhai International Holdings Ltd., Hong
Kong. |
Corporation |
20,000,000 ======== |
(As
per registry dated 07-11-2013)
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Name (Nationality) |
Address |
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CHEN Hao Hua |
Flat 401, No. 35 Cheng Dong Street, Dong
Men Zhong Road, Shenzhen, China. |
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CHENG Hong |
Development & Research Institute
Quarter, Shangbu, Zhong Road, Shenzhen, China. |
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DU Xian Ju |
No. 26 Jin Wan Dai Xiang, Yue Kou Zhen,
Tianmen City, Hubei Province, China. |
|
CUI Jin Hai |
No. 47 Jian She Nan Road, Yue Kou Zhen,
Tianmen City, Hubei Province, China. |
(As
per registry dated 07-11-2013)
|
Name |
Address |
Co.
No. |
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CL.COM
Ltd. |
13/F., Chun Hoi Commercial Building, 688‑690 Shanghai Street,
Mongkok, Kowloon, Hong Kong. |
0703374 |
Allmed Medical Products Co. Ltd. was incorporated on 7th November, 1997 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
Employees: Nil.
Commodities
Imported: China, etc.
Markets: Japan, other
Asian countries, Europe, etc.
Terms/Sales: L/C,
T/T, etc.
Terms/Buying: L/C,
T/T, etc.
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
Indebtedness: US$3,000,000.00 (Total amount outstanding on all mortgages
and charges as per last Annual Return dated 07-11-2013)
Mortgage or
Charge: (See
attachment)
Profit or
Loss: Keeping
a balance account.
Condition: Business is fairly active.
Facilities: Trying to make use of general banking
facilities.
Payment: Met
trade commitments as required.
Commercial
Morality: Satisfactory.
Bankers:-
The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
HSBC Private Bank
(Suisse) SA, Switzerland.
Standard Chartered
Bank (HK) Ltd., Hong Kong.
Standing: Small.
Allmed Medical Products Co. Ltd. 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 formerly 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 20 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]. Your given phone and fax number 86-755-8829 9311 and 86‑755‑8829 9325 respectively belong to Allmed.
Allmed was founded in 1992. With over 17 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.
Allmed is headquartered in Shenzhen SEZ, and 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.
Allmed also has the following two associated firms in China:-
1. Yichang Allmed Medical Products Co., Ltd.
2. 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.
Now the Allmed Group has about 5,000 employees in China. The total area of its factories covers 160,000 sq.m. The products it manufactured annually are able to stuff 5,000 standard containers. The annual sales turnover of the Group ranges from RMB1.5-1.8 billion Yuan. Annual tax paid to the Chinese Government is over RMB80 million Yuan. Overall business is active and profitable.
The President of the Group is Cui Jin Hai while the Vice President is Chen Hao Hua.
The history of the subject in Hong Kong is over 16 years.
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 L/C basis or in small credit amounts.
|
Date |
Description of
Instrument |
Mortgagee |
|
21-04-2008 |
Charge Over
Assets |
UBS AG, Switzerland. |
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05-05-2008 |
Security Over
Deposits |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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07-08-2009 |
Charge Over
Deposits - CD 2 (09) |
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
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07-08-2009 |
Charge Over
Securities - Section 1 (05) |
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
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24-02-2013 |
Memorandum of
Charge |
HSBC Private Bank (Suisse) SA, Hong Kong Branch. |
Note:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses the
address of its secretariat as its correspondence address only. Subject operates
from some other country and does not have a base in Hong Kong. Such companies
are registered in Hong Kong just to tax benefit purpose and due to the strict
privacy laws prevailing in the country. In such cases, the companies are not
required to have any employees in Hong Kong nor do have an office there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
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UK Pound |
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.79.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
SMN |
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.