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Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
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Correct Name : |
VIAN-SAGA ( |
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Registered Office : |
c/o FS Account Ltd. Room A1, 9/F., |
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Country : |
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Date of Incorporation : |
26.02.2009 |
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Com. Reg. No.: |
50321236 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Engaged in trading in all kinds of biological products and
medical instruments |
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No of Employees : |
No Employees in
Hong Kong (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
VIAN-SAGA (HONG
KONG) LTD.
Registered
Office:-
c/o FS Account Ltd.
Room A1, 9/F., Silvercorp International Tower, 707-713 Nathan Road, Mongkok,
Kowloon, Hong Kong.
Previous Address:
c/o Hongkong Chinaflyhk Secretary Service Ltd.
Room 1202, 12/F., Tung Chun Commercial Centre,
438-444 Shanghai Street, Kowloon,
Hong Kong.
Associated
Company:-
Beijing Vian-Saga Biological Technology Ltd.
Room 906, Zhongcheng Group Building, 9 Xibinhe Roa,d Dingcheng District, Beijing, China.
[Tel: 010-8411 8493, 8411 8494, 5618 7586
Fax: 010-8411 8494
E-mail: viansaga@yahoo.com.cn / vs8686@vian-saga.com ]
50321236
1309642
26th February, 2009.
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 26-02-2014)
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Name |
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No.
of shares |
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GAO Peng |
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5,500 |
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ZHANG Wei |
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4,500 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry
dated 26-02-2014)
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Name (Nationality) |
Address |
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ZHANG Wei |
Room 906, Zhongcheng Group
Building, No. 9 Andingmen, Beijing, China. |
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GAO Peng |
Room 906, Zhongcheng Group Building,
No. 9 Andingmen, Beijing, China. |
(As per registry
dated 26-02-2014)
|
Name |
Address |
Co.
No. |
|
FS Account Ltd. |
Room A, 9/F., Silvercorp International Tower, 707-713
Nathan Road, Mongkok, Kowloon, Hong Kong. |
1268512 |
The subject was incorporated on 26th February, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at “c/o Hongkong Chinaflyhk Secretary Service Ltd., Room 1202, 12/F., Tung Chun Commercial Centre, 438‑444 Shanghai Street, Kowloon, Hong Kong”, moved to the present address in February 2013 as it has changed its commercial service provider since then.
Apart from these, neither material change nor amendment has been ever traced and noted.
Having issued 10,000 ordinary shares of HK$1.00 each, Vian-Saga (Hong Kong) Ltd. is jointly owned by Mr. Gao Peng, holding 55% interests; and Mr. Zhang Wei, holding 45%. Being China merchants, they are China passport holders and do not have the right to reside in Hong Kong permanently. They are also directors of the subject.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Room A1, 9/F., Silvercorp International Tower, 707-713 Nathan Road, Mongkok, Kowloon, Hong Kong” known as “FS Account Ltd.” which is handling its correspondences and documents. FS Account Ltd. is also the corporate secretary of the subject. The “1” of “Room A1” is the file number of the subject in the secretarial company.
The subject has no employees in Hong Kong.
The subject is an associated company of Beijing Vian-Saga Biological Technology Ltd. [Beijing Vian-Saga] which is a China-based company.
Beijing Vian-Saga is trading in all kinds of biological products and medical instruments. The subject trades in the same commodities.
The subject and
Beijing Vian-Saga are the agent of the following companies:
· Bayer, Roche, Germany;
Biochrom
GmbH, Germany;
Cell
Culture Technologies LLC, Switzerland;
Minerva
Biolabs GmbH, Germany; &
Seramun
Diagnostica GmbH, Germany.
Beijing Vian-Saga has got a licence to sell pharmaceuticals issued by Beijing Food & Drug Administration.
Zhang Wei is the legal representative of Beijing Vian-Saga while Gao Peng is the product quality controller.
The business of Beijing Vian-Saga is rather active.
The products of the subject are marketed in China, re-exported to the other Asian countries, etc.
The subject’s business in Hong Kong is not active. History in Hong Kong is over five years.
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.
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.60.10 |
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UK Pound |
1 |
Rs.102.04 |
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Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
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.