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MIRA
INFORM REPORT
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Report No. : |
501855 |
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Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
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Name : |
H&K INTERNATIONAL PVT LIMITED |
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Registered Office : |
Flat A, 8/F., 76 Broadway, Mei Foo Sun
Chuen, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.01.2014 |
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Com. Reg. No.: |
62606139 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of All Kinds Of
Pharmaceuticals, Raw Materials for Pharmaceutical Industry |
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No. of Employees : |
1 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
US$50,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 reexports, 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 continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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 aided a more rapid initial recovery 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 9.4% of total system deposits in Hong Kong by the end of 2015. 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 47.3 million in 2014, outnumbering visitors from all other countries combined. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% 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. In 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, which took effect in March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 2.6% in 2016, but slowed to 2.0% in 2017. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities. In 2017, Chief Executive Lam announced plans to increase government spending on research and development, education, and technological innovation with the aim of spurring continued economic growth through greater sector diversification.
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Source
: CIA |
Note
[Formerly located at:
c/o Hongkong Chinaflyhk Secretary Service
Ltd.
Room 1202, Tung Chun Commercial Centre,
438-444 Shanghai Street, Kowloon,
Hong Kong.]
Credit Border Line
Good for credit of US$50,000 or less.
Company name and address
H&K INTERNATIONAL
PVT LIMITED
ADDRESS: Flat A, 8/F., 76 Broadway, Mei Foo Sun
Chuen, Kowloon, Hong Kong.
PHONE: Not available
MANAGEMENT:
Managing Director: Mr. Tushar Kaskhedikar
SUMMARY
Incorporated on: 8th
January, 2014.
Organization:
Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employee:
1.
Main Dealing Banker: Not available.
Banking Relation: Not
applicable.
ADDRESS
Registered Head Office:-
Flat A, 8/F., 76 Broadway, Mei Foo Sun Chuen,
Kowloon, Hong Kong.
Associated Companies:-
H&K Pharma Consulting Co. Ltd., Vietnam.
BUSINESS REGISTRATION NUMBER
62606139
COMPANY FILE NUMBER
2023395
MANAGEMENT
Managing Director: Mr. Tushar Kaskhedikar
ISSUED SHARE CAPITAL
HK$10,000.00
SHAREHOLDERS
(As per registry dated 08-01-2018)
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Name |
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No. of shares |
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YAN Dong
Xu |
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5,000 |
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Tushar KASKHEDIKAR |
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5,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 08-01-2018)
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Name (Nationality) |
Address |
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Tushar KASKHEDIKAR |
Room 901-903, Sh2224, Yuan Building, 738
Dong Fang Road, Pudong New District, Shanghai, China. |
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YAN Dong Xu |
Room 901-903, Sh2224, Yuan Building, 738
Dong Fang Road, Pudong New District, Shanghai, China. |
SECRETARY
(As
per registry dated 08-01-2018)
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Name |
Address |
Co. No. |
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Hong Kong Chinaflyhk Secretary Service Ltd. |
Room 1202, 12/F., Tung Chun Commercial
Centre, 438-444 Shanghai Street, Kowloon, Hong Kong. |
0953587 |
HISTORY
The subject was incorporated on 8th January,
2014 as a private limited liability company under the Hong Kong Companies
Ordinance.
Formerly
the subject’s registered address was located at Room 1202, 12/F., Tung Chun
Commercial Centre, 438-444 Shanghai Street, Kowloon, Hong Kong where was
the operating address of a commercial service provider known as Hong Kong
Chinaflyhk Secretary Service Ltd. The
subject’s registered office moved to the present address with effect from 7th
March, 2018 Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of
pharmaceuticals, raw materials for pharmaceutical industry, etc.
Employee: 1.
Commodities Imported: Europe, other Asian countries, China, etc.
Markets: Japan, other Asian countries,
Europe, etc.
Terms/Sales:
As per contracted.
Terms/Buying:
L/C, T/T, prepayment,
etc.
FINANCIAL INFORMATION
Issued Share Capital: HK$10,000.00
Profit or Loss: Made a very small
profit in 2017.
Condition: Business is normal.
Facilities: Adequate for current running.
Payment:
Slow but
Correct.
Commercial Morality: Satisfactory.
Banker:
Not
available.
Standing:
Small.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, H&K International
Pvt Limited is equally owned by Ms. Yan Dong Xu and Mr. Tushar
Kaskhedikar. The former is a China
merchant while the latter is an India merchant.
The former is a China ID holder while the latter is an India
passport holder, both of whom do not have the right to reside in Hong Kong
permanently. They are also directors of
the subject. Their registered addresses
are in Pudong New District, Shanghai, China.
The registered address of the subject is in a residential building
located at ‘Flat A, 8/F., 76 Broadway, Mei Foo Sun Chuen, Kowloon, Hong Kong’.
The residential building where the subject is inside is not
trespassed by outsiders.
The main office of the subject seems to be in Shanghai, China.
The subject’s telephone number and fax number have not registered
with local telephone company nor listed on telephone directories.
The subject was founded in January 2014 in Hong Kong by a group of
professionals from Europe, India, China and Vietnam. It is engaged in supplying technical and
regulatory support and training to the pharmaceutical Industries.
The subject has set up an associated company in Vietnam known as
H&K Pharma Consulting Co., Ltd on 17th August 2017.
In its GMP consulting services, the subject offers help to
the companies in the Asia pacific region of all sizes and natures to establish
cost effective and efficient quality systems which will go through inspection
and manufacture high quality products.
In its services it strongly centres on Southeast Asian pharmaceutical
companies to help them get more in to PICs, EU and FDA compliances. In its manufacturing practices consulting, it
reviews the current systems of the companies to make them more robust and
efficient.
The subject’s consultancy is based on the international standards
likes: FDA US, EU/EMEA, WHO, PIC/S, EP/USP, ICH, etc.
The business scope of the subject is as follow:
Sourcing: API,
Pharmaceutical Equipment
Pharmaceutical Engineering:
Architectural, Civil & Structural, Electrical Designing, Mechanical
& Piping, HVAC equipment, Utilities, Automation, etc.
GMP Services: Preparing Manufacturing sites, Computerized System
Validation, Qualification & Validation, etc.
Now, the subject also has set up offices in Slovakia and the
United Kingdom.
The subject has had a representative in Hong Kong. History in Hong Kong is just over four years
and three months.
On the whole, consider it good for normal business engagements in
small credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.35 |
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1 |
INR 92.70 |
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Euro |
1 |
INR 80.80 |
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HKD |
1 |
INR 8.31 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.