MIRA INFORM REPORT
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Report No. : |
300798 |
|
Report Date : |
05.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
CSL BEHRING ASIA PACIFIC LIMITED |
|
|
|
|
Formerly Known as : |
CSL Biotherapies
Asia Pacific Limited |
|
|
|
|
Registered Office : |
Room 905, Silvercord, Tower 2, 30 Canton Road, Tsimshatsui, Kowloon |
|
|
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Country : |
Hong Kong |
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|
|
|
Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
06.03.2000 |
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Com. Reg. No.: |
706692 |
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Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business : |
engaged in trading of pharmaceutical chemicals including Human Albumin, Therapeutic Proteins and Recombinant Products. |
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|
|
|
No of Employees : |
About 20 Employees (Company) About 13,000 Employees (Group) |
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.
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Source : CIA |
Contact Points
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Company Name (in
Chinese): |
傑特貝林(亞太區)有限公司 |
|
Company Name (in
English): |
|
|
Supplied Name: |
CSL BEHRING ASIA
PACIFIC LTD. |
|
Trading Address: |
Unit 4205-4208,
AIA Tower, 183 Electric Road, North Point Hong Kong |
|
Supplied
Address: |
4205-4208 AIA
TOWER 183 ELECTRIC ROAD NORTH POINT HONG KONG. |
Note: The exact name and address are as above.
Credit Summary
|
Credit Opinion: |
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Room 905, Silvercord, Tower 2, 30 Canton
Road, Tsimshatsui, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2880-5333 |
|
Fax Number: |
+852-2880-5952 |
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Date of Registration: |
2000-3-6 |
|
Registered Number: |
706692 |
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Business Registration No.: |
30914106 |
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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 |
|
Principal Activities: |
engaged in trading of pharmaceutical
chemicals including Human
Albumin, Therapeutic Proteins and Recombinant Products. |
|
Staff: |
About 20 Employees (Company) About 13,000 Employees (Group) |
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No |
|
|
Date of Last Annual Return: |
2014-3-6 |
History
Subject was incorporated on 2000-3-6 with the registered number 706692 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
2012-10-10 |
CSL Behring Asia Pacific Limited |
|
2006-12-8 |
CSL Biotherapies Asia Pacific Limited |
|
2004-9-17 |
ZLB Behring Asia Pacific Limited |
|
2001-4-17 |
Aventis Behring Asia Pacific Limited |
|
2000-5-8 |
Aventis Behring Asia Pacific Limited |
|
2000-3-6 |
Orient First Venture Limited |
Corporate Structure
Parent Company
|
Address: |
45 Poplar Road,
Parkville, Victoria, 3052, Australia |
Ultimate Parent
Company
|
Name: |
CSL Limited |
|
Address: |
45 Poplar Road, Parkville, Victoria, 3052, Australia |
|
Tel: |
+61-3-9389-1911 |
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Fax: |
+61-3-9389-1434 |
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Listed at Stock Exchange: |
Yes; Stock Code: CSL (Australian Stock Exchange) |
Major Related
Companies
|
1.
CSL
Behring (Australia) Pty Ltd (Australia) 2.
CSL
Behring (NZ) Limited (New Zealand) 3.
CSL
Behring
(Privigen) Pty Ltd (Australia) 4.
CSL
UK Holding Limited (England) 5.
CSL
Behring LLC (USA) 6.
CSL
Plasma LLC (USA) 7.
CSL
Behring S.A. de C.A. (Mexico) 8.
CSL
Behring S.A. (France) 9.
CSL
Plasma GmbH (Germany) 10. CSL Behring MEPE (Greece) 11. CSL Behring AS (Turkey) 12. CSL Behring Lda (Portugal) |
Note: Subject’s group members almost cover all over the world; we provided
some of them as above for reference.
Shareholder
|
Subscription
Shares |
Proportion of
Investment (%) |
|
|
CSL International Pty Limited |
2 |
100% |
|
Total |
2 |
100% |
Major Shareholder
Information:
|
Name: |
CSL International Pty Limited |
|
Address: |
45 Poplar Road, Parkville, Victoria, 3052, Australia |
Management Information
Core
Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Church Christopher Charles |
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Address: |
4B, Branksome, No.3 Tregunter Path, Hong Kong |
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Position: |
Director |
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ID Number: |
R291525(0) |
|
2 |
|
|
Name: |
Naylor Gordon |
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Address: |
49-53 Carlsberg Road, Eaglemont Victoria 3084, Australia |
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Position: |
Director |
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Passport Number: |
E3081956 |
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Issuing Country: |
Australia |
|
3 |
|
|
Name: |
Repella Robert |
|
Address: |
1410 Parsons LN, Lower Gwynedd PA 19002, U.S.A. |
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Position: |
Director |
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Passport Number: |
434023267 |
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Issuing Country: |
U.S.A. |
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Date of Appointment: |
2014-7-21 |
|
4 |
|
|
Name: |
First Island Secretarial Limited |
|
Address: |
Room 905, Silvercord, Tower 2, 30 Canton Road, Tsimshatsui, Kowloon,
Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
49295 |
Former Director
|
Name: |
Sieper Ingolf |
|
Address: |
441 Prussian Lane, Wayne, Pennsylvania, USA |
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Passport Number: |
C5NMCVMR5 |
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Issuing Country: |
Germany |
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Date of Cessation: |
2014-7-21 |
Personnel
Structure
|
Total Employees |
About 13,000 Employees (Group) |
Operation Information
Offices
& Factories
|
|
Office |
|
Address: |
Unit 4205-4208, AIA Tower, 183 Electric Road,
North Point Hong Kong |
Premises
Information
Office address:
|
Address: |
42nd Floor, AIA Tower, No.183 Electric Road, Hong Kong |
|
Owners: |
Choiform Limited (1/5) Deland Investment Limited (4/5) |
|
Memorial Number: |
Remarks: Conditions of exchange No. 12420 of IL 8855 |
History
of Premises Owners’
|
1 |
|
|
Memorial No.: |
11081102080116 |
|
Date of Instrument: |
2011-8-2 |
|
Date of Registration: |
2011-8-11 |
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Nature: |
Tenancy agreement with plans Remarks: For 3 years from 2011-5-31 to 2014-5-30 with an option for renewal
for a further term of 3 years at market rent re Units 4201 & 4209 |
|
In Favor of: |
Glory Sky Group Limited |
|
Consideration: |
The rent is HKD 505,456 per month (PT.) |
|
2 |
|
|
Memorial No.: |
11072002490024 |
|
Date of Instrument: |
2011-7-13 |
|
Date of Registration: |
2011-7-20 |
|
Nature: |
Tenancy Agreement With Plan Re Units 4202-4 Remarks: For 3 years from 2011-3-1 to 2014-2-28 with an option for
renewal for a further term of 2 years |
|
In Favor of: |
Delta Air Lines, Inc. |
|
Consideration: |
The rent is HKD 113,952.00 per month |
|
3 |
|
|
Memorial No.: |
11060902240021 |
|
Date of Instrument: |
2011-5-24 |
|
Date of Registration: |
2011-6-9 |
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Nature: |
Tenancy agreement with plan re Units 4205-8 Remarks: For the term of 3 years from 2011-2-14 to 2014-2-13 with an
option for renewal for a further term of 3 years |
|
In Favor of: |
CSL Biotherapies Asia Pacific Limited |
|
Consideration: |
The rent is HKD 228,000 per month |
Note: (PT.) means part of.
Production
Information
l Subject is a trader of pharmaceutical chemicals without any production
activities.
l It is introduced that subject’s group has factories in Australia,
Germany, Switzerland and U.S.A. for production.
Purchase
Information
l Subject purchases products mainly from group factories in Europe and
America.
Sales
Information
l Subject is engaged in sale of pharmaceutical
chemicals
l Subject’s major products include human albumin, therapeutic proteins
and recombinant products.
l The products are applied to treat willebrand disease, hemophilia and
primary immunodeficiency.
l Subject’s sales regions include China, India, South Korea and Southeast
Asia.
l Subject’s major customers are drug distributors, retailers.
Settlements
Purchase
1.
Domestic Purchase
Subject has little domestic purchase.
2.
Import
|
Products |
Pharmaceutical chemicals |
|
Payment Terms |
Interior Settlement, T/T |
Sales
1.
Domestic Markets
|
Product |
Pharmaceutical chemicals |
|
Selling Terms |
Cash, T/T |
2.
Export
|
Pharmaceutical
chemicals |
|
|
Selling Terms |
T/T |
Financial Highlights
Unit: USD/Million
|
Consolidated |
2014-6-30 |
2013-6-30
(Restated) |
|
Total Current Assets |
3,207.60 |
3,259.30 |
|
Total Non-Current Assets |
3,070.10 |
2,714.80 |
|
Total Assets |
6,277.70 |
5,974.10 |
|
845.30 |
906.60 |
|
|
Total Liabilities |
3,115.70 |
2,956.40 |
|
Total Equity |
3,162.00 |
3,017.70 |
|
Sales Revenue |
5,334.80 |
4,950.40 |
|
Cost of Sales |
-2,604.00 |
-2,391.40 |
|
Gross Profit |
2,730.80 |
2,559.00 |
|
Profit before income tax expenses |
1,604.30 |
1,461.30 |
|
Net Profit for the period |
1,307.00 |
1,211.40 |
|
Total of other comprehensive income/(expenses) |
166.50 |
-103.20 |
|
Total comprehensive income for the period |
1,473.50 |
1,108.20 |
Note: For the year ended 30 June, 2014.
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 rejected to disclose the financial information;
from other sources we could not obtain such information, either. We found the
consolidated financial highlights of subject’s ultimate parent company (CSL
Limited) from public files for reference.
Bankers
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Public
Mortgage
Record
No mortgage record of subject was found.
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
|
Department: |
Sales Department |
Industry
Information
External Trade Information:
Hong Kong 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
AIA Tower, 183
Electric Road, North Point Hong Kong
Unit 4205-4208,
AIA Tower, 183 Electric Road, North Point Hong Kong
Unit 4205-4208, AIA Tower, 183 Electric Road, North Point Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.29 |
|
UK Pound |
1 |
Rs.98.39 |
|
Euro |
1 |
Rs.76.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.