MIRA
INFORM REPORT
|
Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
BIO CHEM TECHNOLOGY (HK) LIMITED |
|
|
|
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Registered Office : |
Unit 1104 Admiralty Centre, Tower 1, 18 harcourt Road, |
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Country : |
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Date of Incorporation : |
16.12.1998 |
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Com. Reg. No.: |
30514653 |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of corn refined products and corn based
biochemical products |
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|
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No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 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 |
Company name and address
|
Company Name (in Chinese): |
生化科技(香港)有限公司 |
|
Company Name (in English): |
BIO CHEM TECHNOLOGY (HK) LIMITED |
|
Supplied Name: |
BIO CHEM TECHNOLOGY (HK) LIMITED |
|
Trading Address: |
Unit 1104 Admiralty Centre,
Tower 1, 18 harcourt Road, Hong Kong |
|
Supplied Address: |
Unit 1104 Admiralty Centre
Tower 18 harcourt Road |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit
1104 Admiralty Centre, Tower 1, 18 harcourt Road, Hong Kong |
|
Telephone Number: |
+852-2838-8155 |
|
Fax Number: |
+852-2838-8433 |
|
E-mail: |
|
|
Date of Registration: |
1998-12-16 |
|
Registered Number: |
662537 |
|
Business Registration No.: |
30514653 |
|
Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2014.12, 1 HKD = 0.129
USD) |
|
Paid-up Capital: |
HKD 2 (USD 0.258) = 2 Shares @
HKD 1 |
|
Legal Form: |
Private Limited Liability
Company |
|
SITC Code: |
42169-Refined maize (corn) oil
and its fractions, not chemically modified (kg) |
|
Principal Activities: |
Trading of corn refined
products and corn based biochemical products |
|
Staff: |
About 10 employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-12-16 |
History
Subject was incorporated on 1998-12-16 with the registered
number 662537 as Private Limited Liability Company in
Change of Name:
|
Date |
Change |
|
1998-12-16 |
Honour Talent Limited 安菱有限公司 |
|
1999-12-1 |
Bio-Chem Technology (HK) Limited 生化科技(香港)有限公司 |
Corporate Structure
Related Companies
|
Name: |
|
|
Address: |
Unit 1104 Admiralty Centre,
Tower 1, 18 harcourt Road, Hong Kong |
|
Legal Form: |
Non Hong Kong Company |
|
Listed at Stock Exchange: |
Yes; stock symbol: HKG:0809 |
|
Telephone Number: |
+852-2838-8155 |
|
Fax Number: |
+852-2838-8433 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Tieguang Wang |
1 |
50% |
|
Zhanpeng Kong |
1 |
50% |
|
Total |
2 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Tieguang Wang |
|
Address: |
Flat 1004, Block F, Kornhill,
Hong Kong |
|
2 |
|
|
Name: |
Zhanpeng Kong |
|
Address: |
Flat 1004, Block F, Kornhill,
Hong Kong |
Management Information
Core Management
Detailed Information
of Directors:
|
1 |
|
|
Name: |
Xiaoming Liu |
|
Address: |
Flat 2103, Block F, Kornhill,
Hong Kong |
|
Position: |
Director |
|
ID Number: |
K592610(6) |
|
2 |
|
|
Name: |
Ziyi Xu |
|
Address: |
Room 1102, No. 7th
building, Caesar Garden, Renmin Street, Changchun, Jilin |
|
Position: |
Director |
|
ID Number: |
R866722(4) |
|
3 |
|
|
Name: |
Cheung Kin Po |
|
Address: |
Flat D, 3/F., 111 Broadway,
Mei Foo Sun Chuen, Kowloon, Hong Kong |
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Position: |
Secretary |
|
ID Number: |
G714510(0) |
Personnel Structure
|
Total Employees |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Unit 1104 Admiralty Centre,
Tower 1, 18 harcourt Road, Hong Kong |
Premises Information
Office address:
|
Address: |
Office No.1104 On 11/F Of Tower I Admiralty Centre No.18 Harcourt Road Hong Kong |
|
Owners: |
Bio-Chem Technology (HK)
Limited |
|
Memorial Number: |
UB8492691 |
|
Date of Instrument: |
2001-8-31 |
|
Date of Registration: |
2001-9-18 |
|
Consideration Value: |
HKD 23,968,000.00 |
History of Premises Owners’
|
1 |
|
|
Memorial No.: |
11010703180262 |
|
Date of Instrument: |
2011-1-4 |
|
Date of Registration: |
2011-1-7 |
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Nature: |
Mortgage |
|
In Favor of: |
The Hongkong And Shanghai
Banking Corporation Limited |
|
Consideration: |
To Secure All Moneys In
Respect Of General Banking Facilities |
|
2 |
|
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Memorial No.: |
UB8492690 |
|
Date of Instrument: |
2001-8-25 |
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Date of Registration: |
2001-9-18 |
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Nature: |
Statutory Declaration |
|
3 |
|
|
Memorial No.: |
UB8428185 |
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Date of Instrument: |
2001-6-30 |
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Date of Registration: |
2001-7-10 |
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Nature: |
Agreement For Sale And
Purchase |
|
In Favor of: |
Bio-Chem Technology (Hk)
Limited |
|
Consideration: |
HKD 23,968,000.00 |
Production Information
Subject is a trader of corn refined products and corn based biochemical products, etc without any production activities.
Purchase Information
It is introduced that subject purchases its products from the factories in Changchun, Jinzhou, Shanghai and etc of the group named “Global Bio-chem Technology Group Company Limited”.
Sales Information
Subject’s engaged in sale of corn refined products and corn based biochemical products.
Subject’s main products are corn refined products such as corn oil, corn steep liquor, corn starch, waxy corn starch, corn gluten meal, feed pellets, corn germ cake, amino acids, corn sweeteners, modified starches, chemicals and etc.
Subject’s selling territory includes USA, Southeast Asia, North Europe and Africa, etc.
Subject’s major customers are manufacturers of food, drinks, chemicals, pharmaceuticals, etc.
Settlements
Purchase
Domestic Purchase
|
Products |
Corn refined products, etc. |
|
Payment Terms |
Internal settlement, T/T , etc. |
Import
Subject has little import.
Domestic Markets
|
Product |
Corn refined products, etc. |
|
Selling Terms |
Cash, T/T, etc. |
Export
|
Product |
Corn refined products, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Financial Information
The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff Ms. Cai rejected to disclose the financial information, from other sources we could not obtain such information, either.
Bankers
|
1 |
|
|
Name: |
The Hongkong and Shanghai
Banking Corporation Limited |
|
Address: |
1 Queen’s Road Central, Hong
Kong |
|
2 |
|
|
Name: |
Bank of China (Hong Kong)
Limited |
|
3 |
|
|
Name: |
The Agriculture Bank of China |
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4 |
|
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Name: |
China Construction Bank |
Public
|
2003-11-28 |
|
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Court Name: |
|
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Court No.: |
4367 |
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Claimant: |
Provimi B.V. |
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Defendant: |
Bio-Chem Technology (HK) Ltd c/o |
|
Reason: |
Money Due |
|
Amount: |
USD 1,159,824.00 |
Mortgage Record
|
1 |
|
|
Company Name: |
Bio Chem Technology (HK)
Limited (the “Assignor”) |
|
Instrument of Creating
Mortgage: |
Assignment of life Insurance |
|
Date of Creating Mortgage: |
2011-3-24 |
|
Amount Secured: |
“Secured Monies” means (i) all
and any monies and liabilities in any currency whenever and however incurred,
owing by the Assignor to the Bank at any branch or office at any time,
whether separately or jointly with any other person, actually or
contingently, whether presently or in future in any capacity (whether as
principal or surety), including amounts payables by the Assignor under this
Deed; (ii) interest on such monies (both before and after any demand or
judgment), to the date on which the Bank receives payment, at the rates
payable by the Assignor or which would have been payable but for any
circumstance which restricts payment, (iii) all monies paid by the Bank in
respect of the Policy pursuant to the terms of this Deed; and (iv) all
expenses of the Bank in perfecting or enforcing this Deed on a full indemnity
basis. |
|
Name of Mortgagee: |
The Hongkong and Shanghai
Banking Corporation Limited |
|
Address of Mortgagee: |
HSBC Main Building No. 1
Queen’s Road Central Hong Kong |
|
Description of Property
Mortgaged: |
(i) all the Assignor’s claims, options, privileges, right,
title, interest and benefit in and under the Insurance; and (ii) all the
Assignor’s claims and rights (whether on a restitutionary basis or otherwise)
against the issuer of the Policy (whether directly or indirectly) upon the
terms herein set out as a continuing security for the due and punctual
payment of the Secured Monies. The Assignor will not, unless the Bank
otherwise agrees in writing, create or attempt or agree to create or permit
to arise or exist any charge, mortgage, pledge, lien or other security
interest or encumbrance whatsoever over all or any part of the Insurance or
any interest therein or otherwise assign, deal with or dispose of all or any
part of the Insurance (except under or pursuant to this Deed). |
|
2 |
|
|
Company Name: |
Bio Chem Technology (HK)
Limited (the “Company”) |
|
Instrument of Creating
Mortgage: |
Mortgage The instrument above mentioned
contains a restriction on the creation of any mortgage or charge on the
property comprised in this security or any dealing therewith or disposition
thereof or any interest therein without written consent of the persons
entitled to the charge. |
|
Date of Creating Mortgage: |
2011-1-4 |
|
Amount Secured: |
To secure general banking facilities
granted or to be granted by the lender (as hereinafter defined) to the
Company to such extent and upon and subject to such terms and conditions as
shall from time to time be mutually agreed or be stipulated by the Lender,
that is to say ‘all moneys” in respect of general banking facilities and
interest thereon. |
|
Name of Mortgagee: |
The Hongkong and Shanghai
Banking Corporation Limited (“the Lender”) |
|
Address of Mortgagee: |
Whose registered office is situate
at One Queen’s Road Central Hong Kong |
|
Description of Property
Mortgaged: |
All those 612/227, 600th
parts or shares of and in Inland Lot No. 8423 (Office No. 1104 on 11th
Floor of Tower I of Admiralty Centre,
No. 18 Harcourt Road, Hong Kong) |
Lawsuits
Up to now, no present or latent litigation of the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy
Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction &
Arbitration Proceedings: |
Clear |
|
High Court Companies
Winding-Up: |
Clear |
Special Note
Interview Details
|
Interview Date: |
2014-12-18 |
|
Name |
Mr. Cai |
|
Position: |
Sales Manager |
Industry Information
42169-Refined maize (corn) oil and its fractions, not chemically modified (kg)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Singapore |
121,425 |
1,732 |
337,649 |
4,742 |
|
Malaysia |
55,613 |
1,164 |
153,425 |
3,196 |
|
South Korea |
261,630 |
2,506 |
869,320 |
8,547 |
|
The Mainland of China |
57,114 |
741 |
398,887 |
5,480 |
|
Exports |
||||
|
Australia |
492 |
12 |
11,201 |
239 |
|
The Mainland of China |
9,900 |
178 |
20,020 |
381 |
|
Macau |
38,120 |
557 |
184,208 |
2,446 |
|
USA |
-- |
-- |
9,008 |
193 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures
have been rounded to the nearest final digit after summing up the constituent
trade figures.
Attachment
Unit 1104 Admiralty Centre, Tower 1, 18 harcourt Road, Hong Kong
%20LIMITED%20-%20298789%2019-Dec-2014_files/image002.jpg)
Unit 1104 Admiralty Centre, Tower 1, 18 harcourt Road, Hong Kong
%20LIMITED%20-%20298789%2019-Dec-2014_files/image004.jpg)
Unit 1104 Admiralty Centre, Tower 1, 18 harcourt Road, Hong Kong
%20LIMITED%20-%20298789%2019-Dec-2014_files/image006.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.32 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.78.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIS |
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.