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Report Date : |
14.11.2014 |
IDENTIFICATION DETAILS
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Name : |
ARSHINE
PHARMACEUTICAL CO. LTD. |
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Registered Office : |
C/o HK Rich Accounting Secretarial Services Ltd., Unit 1105, 11/F., Hua Qin International Building, 340 Queen’s Road Central |
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Country : |
Hongkong |
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Date of Incorporation : |
05.08.2010 |
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Com. Reg. No.: |
52736352 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Pharmaceuticals, pharmaceuticals
for animals, food additives, products for pets |
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No. of Employees : |
No Employee in
Hongkong 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 Hongkong
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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 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hongkong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
HONGKONG - 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.
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Source
: CIA |
ARSHINE PHARMACEUTICAL CO. LTD.
ADDRESS: C/o HK Rich
Accounting Secretarial Services Ltd.
Unit 1105, 11/F., Hua
Qin International Building, 340 Queen’s Road Central, Hong Kong.
PHONE: 852-2725
0029
FAX: 852-2725
0444
Managing Director: Ms. Chen Aiping
Incorporated on: 5th August, 2010.
Organization: Private Limited Company.
Capital: Nominal:
HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o HK Rich Accounting Secretarial Services Ltd.
Unit 1105, 11/F., Hua Qin International Building, 340 Queen’s Road
Central, Hong Kong.
Associated
Companies:-
Arshine Pharmaceutical Co. Ltd., China.
Arshine Technology Co. Ltd., Hong Kong.
Global Pet Products Co. Ltd., Hong Kong.
Shenzhen Global Pet Products Co. Ltd., China.
Sino-Kemmed Trading Co. Ltd., Hong Kong.
Shenzhen Arshine Pharmaceutical Co. Ltd.
Room 1604, Block C, Perfect Garden (Jialin Haoting), 2001 Shennan Road,
Futian, Shenzhen Special Economic Zone, China.
[Tel: 86 755 33330822/0825
Fax: 86 755 82879323
E-mail: marketing@arshing.com.cn]
52736352
1489693
Managing Director: Ms. Chen Aiping
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 05-08-2014)
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Name |
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No. of shares |
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CHEN Aiping |
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10,000 ===== |
(As per registry
dated 05-08-2012)
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Name (Nationality) |
Address |
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CHEN Aiping |
Rencaidashichang Building, Baoanbai Road, Luohu District, Shenzhen
City, China. |
(As per registry
dated 05-08-2014)
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Name |
Address |
Co. No. |
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HK Rich Accounting Secretarial Services Ltd. |
Unit 1105, 11/F., Hua Qin International Building, 340 Queen’s Road
Central, Hong Kong. |
1350799 |
The subject was incorporated on 5th August, 2010 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Unit C, 2/F.,
Wah Lai Building, 2 Lo Lung Hang Street, Hunghom, Kowloon, Hong Kong where was
the operating address of a commercial service provider Hongkong Zhongfu Int’l
Investment Ltd. The subject moved to the
present address in August 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.
Activities: Importer,
Exporter and Wholesaler.
Lines: Pharmaceuticals,
pharmaceuticals for animals, food additives, products for pets
Employees: Nil.
Commodities Imported: India,
Europe, other Asian countries, etc.
Markets: China,
other Asian countries, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C or as per contracted.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Keeping
a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Arshine
Pharmaceutical Co., Ltd. is wholly owned by Ms. Chen Aiping who is a China
merchant.
She is a China ID holder and does not have the right to reside in Hong
Kong permanently. She is also the only
director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Unit 1105, 11/F., Hua Qin International Building, 340
Queen’s Road Central, Hong Kong known as HK Rich Accounting Secretarial
Services Ltd. which is handling its correspondences and documents. This company is also the corporate secretary
of the subject.
The subject has no employees in Hong Kong.
The subject has had an associated company in China known as Arshine
Pharmaceutical Co. Ltd. [Arshine Pharma] which is in Changsha City, Hunan Province,
China.
Arshine Pharma is a key member of AGS Group. The other two members of the Group are Global
Pet Products Co., Ltd. [GPP], and Sino-Kemmed Trading Co., Ltd. [Sino-Kemmed].
The subject’s another associated company GPP is a Hong Kong-registered firm. It was registered in Hong Kong in mid-2011.
GPP was established in Shenzhen SEZ in 2006. It started as a sourcing agent for Global Pet
Romania. Its products include pet cages,
aquariums, cleaning products, pet toys, pet beds, etc. The legal representative of GPP is also Chen
Aiping.
Sino-Kemmed, established in 2007 in China, is trading in pharmaceutical
packing products, materials and pharmaceutical machinery. It also imports cosmetic products from the EU
and distributes in the China market.
Arshine Pharma is a pharmaceutical company mainly engaged in exporting
pharmaceutical raw materials both for vet and human, also Vitamins, Amino
Acids, minerals, peptides, plant extract, feed and food additives.
Established in 2007, Arshine Pharma’s staff members have increased from
3 to 30. Besides, it has established
close and stable cooperative relationships with over 300 domestic
pharmaceutical and chemical enterprises.
In the past 6 years, Arshine Pharma’s sales had an average annual
increase rate of over 45%. In
particular, it got a breakthrough record of US$ 30 million for the sales of
bulk pharmaceutical chemicals in 2012.
Arshine Pharma’s exported products exceed 400 while more than 10 of
which are leading China’s exports. Now,
it has developed business ties with 17 countries and areas covering 4
continents of the world. It has
developed into one of the major pharmaceuticals exporting enterprises in
southern China.
Arshine Pharma has an office in Shenzhen Special Economic Zone, China
known as known as Shenzhen Arshine Pharmaceutical Co. Ltd. [Shenzhen Arshine].
Shenzhen Arshine is a trading company mainly providing veterinary pharmaceuticals and premixes, human use API and
Vitamins. Among those pharmaceuticals, it
is specialized in popular used anti-biotic such as Doxycycline Hcl,
Oxytetracycline Hcl/Base, Ciprofloxacin Hcl/Base, Enrofloxacin Base/Hcl,
Tylosin Tartrate/Phosphate, Lincomycin Hcl, Penicillin G Procaine
non-sterile/sterile, etc.
The subject’s business in Hong Kong is not active. History in Hong Kong is over four years and
three months.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.56 |
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1 |
Rs.97.10 |
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Euro |
1 |
Rs.76.61 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NIT |
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 |
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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.