MIRA INFORM REPORT

 

 

Report No. :

491919

Report Date :

12.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

TECHCOMP (MACAO COMMERCIAL OFFSHORE) LIMITED

 

 

Registered Office :

Em Macau, Rua De Pequim, Nos. 202A-246, Centro Financeiro 7/F. Block F

 

 

Country :

Macau

 

 

Financials (as on) :

31.12.2016 (Consolidated)

 

 

Date of Incorporation :

12.09.2006

 

 

Com. Reg. No.:

SO 25387

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject engaged in sales of analytical and laboratory instruments

 

 

No. of Employees :

864 (Group, As at December 31, 2016)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

 

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

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

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Macau

A2

A2

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

MACAU - ECONOMIC OVERVIEW

 

Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2016, Macau's gaming-related taxes accounted for more than 76% of total government revenue.

 

Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in the 2010-13 period, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s ongoing anti-corruption campaign has brought Macau’s gambling boom to a halt, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 20.3% in 2015, down from double-digit expansion rates in the period 2010-13, and another 4.7% in 2016.

 

Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.

 

Source : CIA

 

Company summery

 

Company Name (in English):

Techcomp (Macao Commercial Offshore) Limited

Company Name (in Portuguese):

Techcomp (Comercial Offshore De Macau) Limitada

Supplied Name:

TECHCOMP (MACAO COMMERCIAL OFFSHORE) LIMITED

Trading Address:

Em Macau, Rua De Pequim, Nos. 202A-246, Centro Financeiro 7/F. Block F

Supplied Address:

EM MACAU, RUA PEQUIM NS 202A-246, CENTRO FINANCEIRO F7

Telephone Number:

+853-2870-5075

Fax Number:

+853-2870-5072

Note: Subject’s exact name and address are as above.

 

Company Identification Details

 

Registered Name:

Techcomp (Macao Commercial Offshore) Limited

Registered Address:

Em Macau, Rua De Pequim, Nos. 202A-246, Centro Financeiro 7/F. Block F

Date of Registration:

2006-09-12

Business Registered Number:

SO 25387

Legal Form:

Private Limited Liability Company

Registered Capital:

MOP 10,000,000 (USD 1,212,000)

(As of 2017.08, 1 MOP = 0.1212 USD)

Principal Activities:

Trading of analytical and laboratory instruments.

Staff:

864 employees (Group, As at December 31, 2016)

Listed at Stock Exchange:

No

Information Ended at:

2017-7-25

 

 

History

Subject was incorporated on 2006-09-12 with registered number SO 25387 as Private Limited Liability Company in Macao.

 

 

Corporate Structure

 

Parent Company

Name:

Techcomp Scientific Limited

Registered Address:

Palm Grove House, P.O. Box 3190, Road Town, Tortola, British Virgin Islands

 

Ultimate Parent Company

Name:

Techcomp (Holdings) Ltd

Incorporated in:

Bermuda with Limited Liability

Address:

6/F, Mita Centre, 552-566 Castle Peak Road, Kwai Chung, Kowloon, Hong Kong

Tel:

+852-27519488

Fax:

+852-27519477

Listed at Stock Exchange:

Yes

Stock code:

HKG:1298

SGX: T43

Group Companies

1

Name:

Shanghai Techcomp Bio-equipment Ltd.

Address:

Building 16, No.201 Minyi Road, Songjiang District, Shanghai, 201612, China.

Tel:

+86-21-6768-7200

Fax:

+86-21-6768-7190

E-mail:

marketing@techcomp.cn; sh-factory@techcomp.cn

2

Name:

Richwell Hightech Systems Inc.

Country of incorporation

(or registration) and opration)

British Virgin Islands

3

Name:

Regent Lite Pte Limited

Country of incorporation

(or registration) and opration)

Singapore

4

Name:

Glory Union Investments Limited

Country of incorporation

(or registration) and opration)

Hong Kong

5

Name:

Graceful Sky Investments Limited

Country of incorporation

(or registration) and opration)

Hong Kong

6

Name:

Sunny Time Investments Limited

Country of incorporation

(or registration) and opration)

Hong Kong

7

Name:

Silver Grand Holdings Limited

Country of incorporation

(or registration) and opration)

Hong Kong

8

Name:

Techcomp Europe Limited

Country of incorporation

(or registration) and opration)

England & Wales

Note: It is introduced that subject’s group has many members both at home and abroad, we supply the above companies from public files as it related companies for references.

Group Offices

1

Name:

Singapore Office

Address:

2 International Business Park, #09-06 The Strategy Tower 1, Singapore 609930

Tel:

+65-6267-8921

Fax:

+65-6267-8923

E-mail:

techcomp@techcomp.com.sg

2

Name:

India Office

Address:

906,9th Floor, Pearls Best Heights - I, Plot A5, Netaji Subhash Place, Pitampura, New Delhi 110034.

Tel:

+91-11-45686601-04

Fax:

+91-11-45686612

E-mail:

india@techcomp.com.sg

3

Name:

Thailand Office

Address:

99/349 Na-Nakorn Building 7th Floor, Moo 2, Cheangwattana Rd., Tungsonghong, Laksi, Bangkok 10210, Thailand.

Tel:

+66-2-576-1629

Fax:

+66-2-576-1630

E-mail:

thailand@techcomp.com.sg

4

Name:

Indonesia Office

Address:

Techcomp Building, Tamini Interchange, JI Raya Pondok Gede No. 5, Dukuh, Kramat Jati, Jakarta 13550, Indonesia

Tel:

+62-21-8087-8498

Fax:

+62-21-8088-2751

E-mail:

indonesia@techcomp.com.sg

5

Name:

China Head Office

Address:

1/F & 3/F, Building 7, Tianchangyuan, Hongjunying South Road, Chaoyang District, Beijing, 100107, China.

Tel:

+86-10-6401-0651

Fax:

+86-10-6406-0202

E-mail:

beijing@techcomp.cn

 

 

Shareholder

Unit: MOP

Name

Subscription Amount

Proportion of Investment (%)

Techcomp Scientific Limited

10,000,000

100%

Total

10,000,000

100%

 

Shareholder Information:

Name:

Techcomp Scientific Limited

Address:

Palm Grove House, P.O. Box 3190, Road Town, Tortola, British Virgin Islands

 

 

Management Information

 

Core Management

Administrators:

1

Name:

Sin Sheung Nam

Address:

Macao, Taipa, Zijuanyuan Jardins do Oceano, 10/F, Block Q

Position:

Director

Marital Status:

Married

Gender:

Male

2

Name:

Xu Songhua

Address:

3E, Hillcrest Road, Singapore, S286664

Position:

Director

Marital Status:

Married

Gender:

Female

3

Name:

Sin Sheung Nam

Address:

Macao, Taipa, Zijuanyuan Jardins do Oceano, 10/F, Block Q

Position:

Secretary

Authorized Signatures

Any one of the above Administrators can sign on behalf of the subject with seal affixed.

 

 

Operation Information

 

Offices & Factories

 

 

Office

Address:

Em Macau, Rua De Pequim, Nos. 202A-246, Centro Financeiro 7/F. Block F

Area:

43.72 Square Meters

Owned /Rented:

Rented

 

Premises Information

 

Office address:

Address:

Em Macau, Rua De Pequim, Nos. 202A-246, Centro Financeiro 7/F. Block F

Owners:

Wu Hio IN

Matriz:

71780

Nature:

Urban

Duration:

10 years, since 2016-4-12

 

Production Information

l  Subject is a trader of analytical and laboratory instruments without any production activities.

l  It is introduced that subject’s group companies has factories in Shanghai of Mainland China for production.

 

Purchase Information

l  The subject’s products are provided by factories of group companies in Shanghai of Mainland China.

 

Sales Information

l  Subject is engaged in sales of analytical and laboratory instruments.

l  It is introduced that the major products include analytical instruments, surface science instrument & electron microscopes, life science and general lab equipment and so on.

l  It is introduced that the subject’s products are applied for general lab, surface science, chemical analysis, life science, etc.

l  It is introduced that subject’s sales regions mainly focus on Macau domestic market.

l  Subject’s major types of customers are general labs, research institution, hospitals, etc.

l  Major products

Type

Products

Analytical Instruments

Atomic Absorption Spectrophotometer

UV/Visible Spectrophotometer

Fluorescence Spectro

GC and GCMS

HPLC

Amino Acid Analyzer

NMR

Titrator

Hg/H2O/Flow Analysis

EC/ CL Detector

Automatic Ash & Dry

Surface Science Instrument & Electron Microscope

Transmission Electron Microscope

Scanning Electron Microscope

Electron Microscopes Accessories

Tabletop Electron Microscope

AFM

Secondary Ion Mass Spectrometer

Life Science

Centrifuge

BSC & Air Flow Product

Bio-Imaging Product

Pharmacy Product

Anaerobic/Hypoxic Chamber

CO2 Incubators

Microplate Reader

Biosafety Level3 Lab

Nucleic Acid Spectro

Electrophoresis Products

Freeze Dryers

Automated DNA/RNA Isolation System

Lab Animal Caging System

General Lab Equipment

Electronic Balances

Chiller

Pipettes & Tips

Water Bath, Hotplate Stirrer, Shaker

Moisture Analyzers

Cryo Preservation Equipment

Microwave Digestion

Incubators

Ultra Low Freezer

Autoclave

Centrifugal Evaporator

Beads Cell Disrupter

Transilluminators

Hybridization Ovens

Ultraviolet Crosslinkers

Tissue Grinders

Water Purification

Ultrasonic Processor

 

 

Settlements

 

Purchase

 

1.     Domestic Purchase

Products

Analytical instruments, etc.

Payment Terms

T/T, Interrior settlement, Cash, etc.

 

2.     Import

Subject has little import.

 

Sales

 

1.     Domestic Markets

Product

Analytical instruments, etc.

Selling Terms

T/T, Cash, etc.

 

2.     Export

The subject has little export.

 

 

Financial Information

 

The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Macao 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 brief consolidated financial information of subject’s ultimate parent company (Techcomp (Holdings) Ltd) from public files for reference.

 

 

Financials

 

Consolidated Balance Sheet

                                                                                               Unit: USD/000

 

2016-12-31

2015-12-31

Non-current assets

18,155

19,877

Current assets

150,093

136,181

Total Assets

168,248

156,058

Non-current liabilities

6,413

13,653

Current liabilities

81,592

58,447

Total Liabilities

88,005

72,100

Total Equity

80,243

83,958

Total Liabilities and Total Equity

168,248

156,058

 

Consolidated Profit and Loss Account

Unit: USD/000

 

2016

2015

Revenue

183,043

171,905

Cost of sales

(122,674)

(116,433)

Gross profit

60,369

55,472

Other income, gains and losses

(347)

1,135

Selling and distributi on expenses

(19,506)

(18,105)

Administrative expenses

(32,467)

(30,916)

Research and development costs

(5,818)

(2,541)

Finance costs

(1,329)

(1,465)

Profit before taxation

902

3,580

Tax

(288)

(305)

Profit for the year

614

3,275

 

 

Bankers

Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.

 

 

Special Note

 

Interview Details:

Postion:

Operator

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.37

UK Pound

1

INR 89.71

Euro

1

INR 78.89

MOP

1

INR 8.00

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

TPT

 

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

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

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.