|
Report No. : |
324398 |
|
Report Date : |
28.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
MEDI-TOP (CHINA) INDUSTRY CO.
LTD. |
|
|
|
|
Registered Office : |
C/o C & W (Nominees) Ltd. Flat A, 12/F., Foo Cheong Building, 82-86 Wing Lok Street |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
19.05.2003 |
|
|
|
|
Com. Reg. No.: |
33623304 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
The subject is
trading in the following medical equipment:-
|
|
|
|
|
No. of Employees : |
Not Employee 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
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating Office in Hong Kong |
|
Payment Behaviour : |
Unknown |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 40.7 million in 2013, 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 48.5% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 56.9% 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.
As of year-end 2014, the Democracy protests that began in late September
probably will have some adverse effects on economic growth, particularly retail
sales.
|
Source
: CIA |
MEDI-TOP (CHINA)
INDUSTRY CO. LTD.
Registered
Office:-
C/o C & W (Nominees) Ltd.
Flat A, 12/F., Foo Cheong Building, 82-86 Wing Lok Street,
Hong Kong.
[Tel: 852-2541 4221; Fax:
852-2542 3485]
33623304
0847481
19th May, 2003.
HK$1,000,000.00
(As per registry dated 19-05-2014)
|
Name |
|
No. of shares |
|
YUAN Jian |
|
999,999 |
|
CKC Nominees Ltd., Hong Kong. |
|
1 |
|
|
|
–––––––– |
|
|
Total |
1,000,000 ======= |
(As per registry dated 19-05-2014)
|
Name (Nationality) |
Address |
|
LIAO Lei |
No. 2 Jiuhuashan, Yue Yang Lou District, Yue Yang, China. |
|
YUAN Jian |
No. 7, Din Gate, Building 137, South Hospital, Guangzhou Military
College, Guangzhou, Guangdong Province, China. |
(As per registry dated 19-05-2014)
|
Name |
Address |
Co. No. |
|
C & W (Nominees) Ltd. |
Flat A, 12/F., Foo Cheong Building, 82-86 Wing Lok Street, Hong Kong. |
0207503 |
Medi-Top (China) Industry Co. Ltd. was incorporated on 19th May, 2003 as
a private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Flat A, 12/F., Foo Cheong Building, 82‑86 Wing
Lok Street, Hong Kong known as C & W (Nominees) Ltd. [C & W]
which is handling its correspondences and documents. C & W is also the corporate secretary of
the subject. Its phone and fax number
are 852‑2541 4221 and 852-2542 3485 respectively.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
1 million ordinary shares of HK$1.00 each which are almost wholly owned by
Mr. Yuan Jian who is a China merchant.
The director of the subject are Mr. Liao Lei and Mr. Yuan
Jian. Both are China merchants residing
in China. They are China passport
holders and do not have the right to reside in Hong Kong permanently.
The subject is trading in medical equipment and accessories. For instance, in early this year, it sold
‘blood tubing lines for dialysis’ to a Pakistan company known as Dora
Enterprises.
The subject has had close business ties with a number of medical
equipment suppliers in China and imported from Thailand. The Thailand supplier is known as Meditop Co.
Ltd.
The subject is
trading in the following medical equipment:-
Currently the subject is carrying over 30 famous brand names such as
Sysmex, Quinton, Tyco Healthcare, Nova Biomedical, Asahi Medical, Sorin
Biomedical, Varian.
The subject is a distributor in cardiovascular instruments, Dialysis
devices, Laboratory equipment and scientific instruments. Its customers are hospitals, medical
colleges, universities, research centres and industrial laboratories.
The subject has got an associated company in Guangzhou, Guangdong
Province, China which is also operated by Yuan.
The Guangzhou firm is also a medical equipment trader. It also exports its medical equipment to
Japan, the other Asian countries and European countries.
The subject’s business in Hong Kong is not active. History in Hong Kong is over twelve 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.63.95 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.