|
Report No. : |
323705 |
|
Report Date : |
30.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
TEAM CROWN TRADING LIMITED |
|
|
|
|
Registered Office : |
Yuen Long Industrial Estate, 6 Fuk Wang Street, Yuen Long, New
Territories |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
30.05.1995 |
|
|
|
|
Com. Reg. No.: |
19891438 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of medicines |
|
|
|
|
No of Employees : |
About 5 Employees |
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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 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 |
|
Company Name (in Chinese): |
|
|
Company Name (in English): |
Team Crown Trading Limited |
|
Supplied Name: |
TEAM CROWN TRADING LIMITED |
|
Trading Address: |
6 Fuk Wang Street, Yuen Long Industrial Estate,
Yuen Long, New Territories, Hong Kong. |
|
Supplied Address: |
6 Fuk Wang Street, Yuen Long Industrial Estate, Yuen Long, Hong Kong |
Note: The exact
address is as above.
|
Credit Opinion: |
We have arranged the visit for the supplied address, but the result has not been come back. We will update the report when receive the photos.
We contacted the subject and confirmed with the relevant staff that the subject is located at the above address.
|
Registered Name: |
|
|
Registered Address: |
Yuen Long
Industrial Estate, 6 Fuk Wang Street, Yuen Long, New Territories, Hong Kong. |
|
Telephone Number: |
+852-2687-1033 |
|
Fax Number: |
+852-2687-1031 |
|
Date of Registration: |
1995-05-30 |
|
Registered Number: |
516233 |
|
Business Registration No.: |
19891438 |
|
Paid-up Capital: |
HKD 10,000(USD 1,290) = 10,000 Shares@ HKD 1 (As of 2015.5, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
54139- Antibiotics,
N.E.S. (KG) |
|
Principal Activities: |
Trading of medicines, etc. |
|
Staff: |
About 5 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-05-30 |
Subject was incorporated on 1995-05-30 with the registered number 516233 as Private Limited Liability Company in Hong Kong.
Change of name
|
Effective Date |
Name |
|
1996-6-13 |
Team Crown Trading Limited |
|
金福來貿易有限公司 |
|
|
1995-5-30 |
Team Crown Trading Limited |
|
添冠貿易有限公司 |
Group Companies
|
1 |
|
|
Name |
Zhuhai
United Laboratories Co., Ltd |
|
Address |
Sanzhao
Science and Technology Industrial Park, National High-tech Industry Development
Zone, Zhuhai, Guangdong Province, China. |
|
Tel |
+886-756-776-6777 |
|
Fax |
+886-756-776-7377 |
|
2 |
|
|
Name |
Zhuhai United Laboratories Co., Ltd.
Zhongshan Branch |
|
Address |
12 Jialian Road, Tanzhou Township, Zhongshan,
Guangdong Province, China. |
|
Tel |
+886-760-8665-5816 |
|
Fax |
+886-760-8665-5130 |
|
3 |
|
|
Name |
United Laboratories Kingly Capsule Factory |
|
Address |
Kaiping Kingly Capsules Co., Ltd., Dongjiao,
Xingchang, Kaiping City, Guangdong Province, China. |
|
Tel |
+886-750- 2387014 |
|
Fax |
+886-750- 2393338 |
|
4 |
|
|
Name |
United Laboratories (Chengdu) Co., Ltd. |
|
Address |
No.8, South Section, Mudan Avenue, Pengzhou,
Sichuan Province, China. |
|
Tel |
+886-478-226-6932 |
|
Fax |
+886-478-226-6068 |
|
Subscription Shares |
Proportion of Investment (%) |
|
|
The United Laboratories (Hong Kong) Group
Limited |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder
Information:
|
Name: |
The United Laboratories (Hong Kong) Group
Limited |
|
Address: |
P.O. Box 71, Craigmuir Chambers, Road Town,
Tortola, British Virgin Islands. |
Core
Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Tsoi Hoi Shan |
|
Address: |
Flat E, 32/F, Block 7, Royal Ascot, No.1
Tsun King Road, Fotan, Shatin, New Territories, Hong Kong. |
|
Position: |
Director |
|
ID Number: |
K 665977(2) |
|
2 |
|
|
Name: |
Choy Siu Chit |
|
Address: |
Flat B, 29/F, Block 7, Royal Ascot, No.1 Tsun
King Road, Fotan, Shatin, New Territories, Hong Kong. |
|
Position: |
Director |
|
ID Number: |
V 005007 (5) |
|
3 |
|
|
Name: |
Ning Kwai Chun |
|
Address: |
Flat F, 32/F, Block 7, Royal Ascot, No.1 Tsun
King Road, Fotan, Shatin, New Territories, Hong Kong. |
|
Position: |
Director |
|
ID Number: |
H 040521 (5) |
|
4 |
|
|
Name: |
Leung Wing Hon |
|
Address: |
Flat D, 26 Tower 1, Central Park, 18 Hoi
Ting Rd., Tai Kok Tsui, Kowloon, Hong Kong |
|
Position: |
Secretary |
|
ID Number: |
C277530(A) |
Personnel
Structure
|
Total Employees |
Offices
& Factories
|
|
Office |
|
Address: |
6 Fuk Wang Street,
Yuen Long Industrial Estate, Yuen Long, New Territories, Hong Kong. |
Premises
Information
The subject is located at 6 Fuk Wang Street, Yuen Long Industrial Estate, Yuen Long, New Territories, Hong Kong. However, we cannot get any related registration information for this address in the official authorities.
Production
Information
l
Subject is a trader of medicine without any
production activities.
l
It is introduced that subject’s group companies
have factories in Mainland China for production.
Purchase
Information
l
The medicines of the subject are mostly purchased
from Mainland China.
Sales
Information
l
Subject is engaged in sales of medicines, etc.
l
The major products are Chinese paten Medicine, Pharmaceutical
Preparation, Pharmaceutical Chemicals and so on.
l
Subject’s sales regions include domestic market,
Japan, South Asia, etc.
l
Subject’s major customers are medicine shops and
hospitals, etc.
Purchase
1.
Domestic Purchase
|
Products |
Medicines, etc. |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
Subject has little import.
Sales
1.
Domestic Markets
|
Product |
Medicines, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Medicines, etc. |
|
Selling Terms |
L/C, T/T, etc. |
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, and from other sources we could not obtain such information, either.
Open
Account Bank
|
Name: |
Hong Kong and
Shanghai Bank Corporation Limited |
No mortgage record of the subject was found
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 |
Interview Details
|
Name |
Ms. Bai |
|
Department: |
Sales Department |
54139- Antibiotics, N.E.S. (KG)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports5 |
||||
|
Canada |
1 |
7 |
5 |
134 |
|
India |
3,001 |
4,039 |
33,546 |
43,634 |
|
176 |
8,223 |
1,054 |
94,334 |
|
|
Thailand |
300 |
159 |
300 |
159 |
|
German |
85 |
155 |
436 |
865 |
|
Span |
112 |
734 |
1,678 |
10,863 |
|
Taiwan |
-- |
-- |
5,186 |
1,688 |
|
The Mainland of China |
14,517 |
4,668 |
121,850 |
54,217 |
|
Exports |
||||
|
Bangladesh |
10 |
49 |
102 |
226 |
|
1,000 |
1,092 |
33,941 |
30,423 |
|
|
South Korea |
587 |
59 |
4,295 |
5,412 |
|
Vietnam |
500 |
776 |
5,775 |
9,203 |
|
America |
43 |
468 |
234 |
1,246 |
|
Canada |
25 |
26 |
75 |
190 |
|
Indonesia |
2,400 |
1,226 |
12,736 |
10,349 |
|
Taiwan |
104 |
10 |
1,183 |
543 |
|
The Mainland of China |
1,870 |
21,094 |
5,768 |
105,937 |
External Trade Information:
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 |
|
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 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
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 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.
Unit: HKD
|
|
2013-12-31 |
2012-12-31 |
|
Current assets |
|
|
|
Trade and other receivables |
78,501,583 |
12,611,850 |
|
Derivative financial instruments |
84,625 |
-- |
|
Amount due from a fellow subsidiary |
60,551,488 |
-- |
|
Bank balance and cash |
43,126,789 |
973,913 |
|
|
182,264,485 |
13,585,763 |
|
Current liabilities |
|
|
|
Creditors, other payable and accruals |
3,605, |
3,605 |
|
Amount due to an intermediate holding
company |
90,946,039 |
17,499,057 |
|
Amount due to fellow subsidiaries |
93,296,973 |
-- |
|
Amount due to immediate holding company |
1,942 |
-- |
|
|
184,248,559 |
17,502,662 |
|
Net current liabilities |
(1,984,074) |
(3,916,899) |
|
|
(1,984,074) |
(3,916,899) |
|
Capital and reserve |
|
|
|
Share Capital |
10,000 |
10,000 |
|
Accumulated losses |
(1,994,074) |
(3,926,899) |
|
|
(1,984,074) |
(3,916,899) |
Unit: HKD
|
|
2013 |
2012 |
|
Turnover |
|
|
|
Handing fee income of trading of
intermediate products and bulk medicine |
2,387,691 |
-- |
|
Sale of machineries |
43,581,545 |
-- |
|
Cost of sales |
|
|
|
Machineries |
(42,727,005) |
-- |
|
Gross profits |
3,242,231 |
-- |
|
Other gains and losses |
38,227 |
-- |
|
Selling expenses |
(95,330) |
-- |
|
Administrative expenses |
(663,821) |
(36,083) |
|
Finance costs |
(588,482) |
(427,222) |
|
Profit (loss) before taxation |
1,932,825 |
(463,305) |
|
Taxation |
-- |
5,384 |
|
Profit (loss) and total comprehensive
income (expense) for the year attributable to owners of the Company |
1,932,825 |
(457,921) |
Unit: HKD
|
|
2013 |
2012 |
|
Operating activities |
|
|
|
Profit (loss) before taxation |
1,932,825 |
(463,305) |
|
Adjustments for: |
|
|
|
Finance costs |
588,482 |
427,222 |
|
Operating cash flows before movements in working
capital |
2,521,307 |
(36,083) |
|
Increase in derivative financial instrument |
(84,625) |
-- |
|
Increase in amount due from a fellow subsidiary |
(43,581,545) |
-- |
|
Increase in amounts due to fellow subsidiaries |
93,186,073 |
-- |
|
Increase in trade and other receivables |
(65,889,733) |
|
|
Decrease in creditors, other payables and
accruals |
-- |
(1,800,391) |
|
Net cash used in operating activities |
(13,848,523) |
(1,836,474) |
|
Investing activity |
|
|
|
Advance to fellow subsidiaries |
(16,969,943) |
-- |
|
Financing activities |
|
|
|
Advance from fellow subsidiaries |
110,900 |
-- |
|
Advance from immediate holding company |
1,942 |
150,184,343 |
|
Advance from (repayment to) an intermediate
holding company |
73,446,982 |
(92,900,943) |
|
Repayment of bank borrowings |
-- |
(55,000,000) |
|
Interest paid |
(588,482) |
(427,222) |
|
Net cash from financing activities |
72,971,342 |
1,856,178 |
|
Net increase in cash and cash equivalents |
42,152,876 |
19,704 |
|
Cash and cash equivalents at beginning of the
year |
973,913 |
954,209 |
|
Cash and cash equivalents at end of the year,
represented by bank balances and cash |
43,126,789 |
973,913 |
Note: We only obtained the above financial information
for your reference.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.76 |
|
|
1 |
Rs. 97.79 |
|
Euro |
1 |
Rs. 69.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.