MIRA INFORM REPORT

Report No. :	499011
Report Date :	24.03.2018

IDENTIFICATION DETAILS

Name :	ATLANTIC (HK) INDUSTRIAL LIMITED
Registered Office :	Flat E, 5/F., Haribest Industrial Building, 45-47 Au Pui Wan Street, Fotan, Shatin, New Territories
Country :	Hongkong
Date of Incorporation :	22.07.2011
Com. Reg. No.:	58753819
Legal Form :	Private Limited Company.
Line of Business :	Importer, Exporter and Wholesaler of Pharmaceutical Formulations, API's, Surgicals, Veterinary, Herbal & Nutraceutical Products.
No. of Employees :	5

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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 (30.09.2017)	Current Rating (31.12.2017)
Hongkong	A1	A1

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

HONGKONG - 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.

Source : CIA

Company name and address

ATLANTIC (HK) INDUSTRIAL LIMITED

ADDRESS: Flat E, 5/F., Haribest Industrial Building, 45-47 Au Pui Wan Street, Fotan, Shatin, New

Territories, Hong Kong.

PHONE: Not available

MANAGEMENT

Managing Director: Mr. Vimalkumar Jitendrakumar Sukhadiya

SUMMARY

Incorporated on: 22nd July, 2011.

Organization: Private Limited Company.

Issued Share Capital: HK$1.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 5.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

Flat E, 5/F., Haribest Industrial Building, 45-47 Au Pui Wan Street, Fotan, Shatin, New Territories, Hong Kong.

BUSINESS REGISTRATION NUMBER

58753819

COMPANY FILE NUMBER

1640369

MANAGEMENT

Managing Director: Mr. Vimalkumar Jitendrakumar Sukhadiya

ISSUED SHARE CAPITAL

HK$1.00

SHAREHOLDER

(As per registry dated 22-07-2017)

Name	No. of share
Vimalkumar Jitendrakumar SUKHADIYA	1 =

DIRECTOR

(As per registry dated 22-07-2017)

Name (Nationality)	Address
Vimalkumar Jitendrakumar SUKHADIYA	Ramlal Bhatt Ni Khadki Tamboli Vas Kadi Distt Mehsana 382715, India.

SECRETARY

(As per registry dated 22-07-2017)

Name	Address	Co. No.
Joinway Consultants Ltd.	Room 11, 3/F., Kowloon Plaza, 485 Castle Peak, Lai Chi Kok, Kowloon, Hong Kong.	0771007

HISTORY

The company was incorporated on 22nd July, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Pacific Ocean (HK) Industrial Ltd., name changed to the present style on 5th August, 2016.

Formerly the subject’s registered address was located at Room 1101-4A, 11/F., Champion Building, 287-291 Des Voeux Road, Central, Hong Kong where was the operating address of a commercial service provider known as Gateway Registrations Ltd. The subject’s registered office moved to the present address with effect from 24th January, 2011 as it has changed its commercial service provider since then.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Pharmaceutical Formulations, API's, Surgicals, Veterinary, Herbal & Nutraceutical

Products.

Employees: 5.

Commodities Imported: India, etc.

Markets: Japan, other Asian countries, etc.

Terms/Sales: CAD, L/C or as per contracted.

Terms/Buying: L/C, T/T, D/P, etc.

FINANCIAL INFORMATION

Issued Share Capital: HK$1.00

Profit or Loss: Made small profits in past three years.

Condition: Business keeps on improving.

Facilities: Adequate for current running.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Small.

GENERAL

Atlantic (HK) Industrial Limited was incorporated on 22nd July, 2011 as a private limited liability company. It has issued just one ordinary share of HK$1.00 which is owned by Mr. Vimalkumar Jitendrakumar Sukhadiya who is an Indian.

He is an India passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.

The subject is trading in Pharmaceutical Formulations, API's, Surgical, Veterinary, Herbal & Nutraceutical Products, etc.

It currently exports Formulations, Surgical & APIs to Kenya, Sri Lanka, Russia, DR Congo, Myanmar, Tajikistan, Bangladesh, Kazakhstan, Cameroon, Jordan, Burkina -Faso, Nicaragua, Senegal, Pakistan, Ukraine, Yemen, Cambodia, Turkey, Congo, Zimbabwe, Ethiopia, Tanzania, Vietnam, Armenia, Costa Rica, Nigeria, C.A.R. and Guinea-Bissau.

The subject has business partners in over 35 countries. With established presence in Southeast Asia and Africa and growing presence in the other markets, the subject is making a mark in the global pharmaceutical market with its quality healthcare products.

The subject is trading in the following pharmaceuticals:

Anti- Inflammatory / Analgesic / Antipyretic

· Aceclofenac

· Ambroxol HCL

· Celecoxib

· Diclofenac Diethylamine

· Diclofenac Sodium / Potassium

· Ibuprofen

· Mefenamic Acid

· Mesalamine

· Methyl Prednisolone

· Nimesulide

Anti – Protozoal Agent

· Nitazoxanide

· Anti-Helmintic

· Albendazole

· Hepatic Disorder

· Tricholine Citrate

Anti – Diabetic

· Glimipiride

· Metformin HCL

· Pioglitazone HCL

· Anti – Hypertensive

· Telmisartan

Anti – Diarrheal / Anti-Protozoal / Anti-Parasitic

· Diethyl Carbamazine Citrate

· Metronidazole Salts

· Ornidazole

· Secnidazole

· Tinidazole

Vitamins

· Ferrous Ascorbate (Plain / Dc)

· Lmethylfolate Calcium

· Methylcobalamin

· Niacinamide

· Riboflavin Sodium Phosphate

Inflammatory Pain

· Bromelain

The subject is under the leadership of Mr. Eric Chan. History in Hong Kong is over six years and eight months.

On the whole, consider the subject good for normal business engagements in small credit amounts.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.13
UK Pound	1	INR 91.96
Euro	1	INR 80.34
HKD	1	INR 8.29

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

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	NIT

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)

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