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Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
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Name : |
LIVING HOMEOPATHY LTD. |
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Registered Office : |
4/F., Union Park Centre, 771-775 Nathan Road, Mongkok, Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.06.1994 |
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Com. Reg. No.: |
18270899 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of health
foodstuffs |
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No. of Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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
|
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 |
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.
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Source
: CIA |
LIVING HOMEOPATHY
LTD.
ADDRESS: 4/F., Union Park Centre, 771-775 Nathan Road, Mongkok, Kowloon, Hong Kong.
PHONE: 852-2625 4619
FAX: 852-2384 2333
E-MAIL: sandyiu1224@gmail.com
President: Mr. To Ka Lun, Aaron
Incorporated on: 21st June, 1994.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Health Food Trader.
Employees: 3.
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
4/F., Union Park Centre, 771-775 Nathan Road, Mongkok, Kowloon, Hong Kong.
Associated
Organizations:-
Hong Kong Association of Homeopathy, Hong Kong.
Macau Association of Homeopathy, Macau.
School of Homeopathy UK, UK.
18270899
0482492
President: Mr. To Ka Lun, Aaron
Vice President: Mr. Kou Wai Kun
Operating Director: Mr. Chan Siu Chung
Contact Person: Ms. Sandy Yiu (Mobile phone No.: 852-9231 3085)
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDERS: (As per registry dated 21-06-2014)
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Name |
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No. of shares |
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TO Ka Lun |
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6,000 |
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KOU Wai Kun |
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2,000 |
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CHAN Siu Chung |
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2,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS: (As per registry dated 21-06-2014)
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Name (Nationality) |
Address |
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TO Ka Lun |
Rua Nova A Guia, No. 36B, 2 Andar, Macau. |
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KOU Wai Kun |
Travessa Da Se No. 12, EDF “Vo Tsui”, 4/F., B, Macau. |
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CHAN Siu Chung |
Flat E, 5/F., On Ming Lau, Hop Yick Road, Yuen Long, New Territories, Hong Kong. |
SECRETARY: (As per registry dated 21-06-2014)
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Name |
Address |
Co. No. |
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Current Management Consultants Ltd. |
Room 1205, 12/F., Manulife Provident Funds Place, 345 Nathan Road, Kowloon, Hong Kong. |
0145770 |
The subject was incorporated on 21st June, 1994 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Eclat Human Resources Corporation (Hong Kong) Ltd., name changed to Eclat International Group Ltd. on 13th June, 1995; changed to See-You International Group Ltd. on 27th July, 1995; to See-You Again International Group Ltd. on 30th April, 1996; to Living Health Products Ltd. on 11th June, 1997; to Living Commercial Ltd. on 16th November, 1998; to Living Naturopathy Ltd. on 18th June, 2007; and further changed to the present style on 6th December, 2007.
Formerly the subject was located at ‘Unit 18A & C, 18/F., Hamilton Commercial Building, 558-560 Nathan Road, Kowloon, Hong Kong’, moved to the present address in August 2013.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of health foodstuffs,
Employees: 3.
Commodities Imported: UK, US, other European countries,
Markets: Hong Kong, Macau, other Asian countries,
Terms/Sales: COD or as per contracted.
Terms/Buying: Various terms.
MEMBERSHIP: Federation of Hong Kong Industries,
Hong Kong. [Member No. A7406]
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Mortgage or Charge:-
Date of Mortgage: 03-08-2010
Amount: To secure all monies in respect of general banking facilities
Property: 550/4,250th parts or shares of and in Sub-section 1 of Section D of Kowloon Inland Lot No. 3280 and The Remaining Portion of Section D of Kowloon Inland Lot No. 3280 [G/F. including corresponding part of Flower Bed and Garden adjacent and 1/F. (Duplex Apartment) and Car Parking Space No. 9 & 10 on Lower G/F. of Royal Garden, 122-124 Boundary Street, Kowloon, Hong Kong.]
Mortgagee: Hang Seng Bank Ltd., Hong Kong.
Profit or Loss: Making a small profit every year.
Condition: Keeping in a normal manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd., Hong Kong.
Standing: Small.
Living Homeopathy Ltd. is jointly owned by Mr. To Ka Lun, holding 60% interests; Mr. Kou Wai Kun, holding 20%; and Mr. Chan Siu Chung, also 20%.
The subject was set up by To Ka Lun in 1994.
According to the subject, To Ka Lun is an appointed professor of School of Homeopathy of the United Kingdom and Alternative Training and Curing Method College. In the 90’s, Mr. To has been Australia, the United States and even Europe to learn nutriology. Subsequently, he graduated from the UK School of Homeopathy and the UK School of Natural Science. In December 2000, Mr. To registered as a consultant of International Nutrition Consultant Association of the United States. In 2005, Mr. To set up Hong Kong Living Homeopathy Association. In 2008, he was permitted by School of Homeopathy of the United Kingdom to translate the classic living homeopathy into Chinese.
The subject is engaged in Homeopathy and marketing all kinds of health foodstuffs. Besides selling health foodstuffs, the subject is also a school where students are admitted to learn Living Homeopathy. Those graduated students can be a Homeopath. Mr. To Ka Lun and the other shareholders are the professors of Living Homeopathy.
Mr. To started to be the professor for the diploma of holistic nutrition since 2004, more than a thousand students benefited in these days. In 2008, Prof. To went to the UK and since then, he has been co-operating with School of Homeopathy UK [SOH]. His aim is to translate all the courses from English into Chinese, and it will be the very first Chinese Homeopathy course in China, as so far all the homeopathy courses here are either attendance courses overseas or correspondence course in English. After he has personally finished the whole course from SOH, from theory to practitioner level, from paper to clinical, he was appointed as the lecturer for the Chinese homeopathy course.
According to the subject, it has all along been practicing Mr. To’s principles on health and marketing, from 1994 till now, the prices of all the remedies and service have not gone up with the inflation at all. Comparing with other similar companies, the service and remedies of the subject are not only in better quality but also in more affordable price.
The contact person of the subject is Ms. Sandy Yiu. She can be reached at her Hong Kong mobile phone number 852-9231 3085.
The subject imports health foodstuffs from the United States, Canada, Europe, as well as Australia. Products are marketed in Hong Kong, Macau and re‑exported to the other Asian countries, Europe, etc. Business is rather active.
As the history of the subject in Hong Kong is over twenty years, on the whole, consider it good for normal business engagements.
Property information of the company:-
Property Location: G/F. including corresponding part of Flower Bed and Garden adjacent and 1/F. (Duplex Apartment) and Car Parking Space No. 9 & 10 on Lower G/F., Royal Garden, 122-124 Boundary Street, Kowloon, Hong Kong.
Owner: Living Homeopathy Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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03-08-2010 |
- |
Hang Seng Bank Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.22 |
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|
1 |
Rs.98.52 |
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Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NIS |
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.