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MIRA
INFORM REPORT
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Report No. : |
507776 |
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Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
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Name : |
HEALTH CREATION PHARMACEUTICAL LIMITED |
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Registered Office : |
c/o Gangfeng Group (HK) Ltd. Room 1318-20, 13/F., Hollywood Plaza, 610
Nathan Road, Mongkok, Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.02.2015 |
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Com. Reg. No.: |
64417754 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The subject was a pharmaceutical trader. |
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No. of Employees : |
No employees in Hong Kong. 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. |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
D |
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Credit Rating |
Explanation |
Rating Comments |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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Status : |
Dissolved by deregistration |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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.
Excess liquidity, low interest rates and a tight housing supply have caused Hong Kong property prices to rise rapidly. The lower and middle-income segments of the population increasingly find housing unaffordable.
Hong Kong's open economy has left it exposed to the global economic situation. Its continued reliance on foreign trade and investment makes it vulnerable to renewed global financial market volatility or a slowdown in the global economy.
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 surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. After peaking in 2014, overall tourist arrivals dropped 2.5% in 2015 and 4.5% in 2016. The tourism sector rebounded in 2017, with visitor arrivals rising 3.2% to 58.47 million. Travelers from Mainland China totaled 44.45 million, accounting for 76% of the total.
The Hong Kong Government is promoting the Special Administrative Region (SAR) as the preferred business hub for 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, RMB trade settlement is allowed, and investment schemes such as the Renminbi Qualified Foreign Institutional Investor (RQFII) Program was first launched in Hong Kong. Offshore RMB activities experienced a setback, however, after the People’s Bank of China changed the way it set the central parity rate in August 2015. RMB deposits in Hong Kong fell from 1.0 trillion RMB at the end of 2014 to 559 billion RMB at the end of 2017, while RMB trade settlement handled by banks in Hong Kong also shrank from 6.8 trillion RMB in 2015 to 3.9 trillion RMB in 2017.
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 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 66% 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 (CEPA), 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. On the basis of the Guangdong Agreement, the Agreement on Trade in Services signed in November 2015 further enhanced liberalization, including extending the implementation of the majority of Guangdong pilot liberalization measures to the whole Mainland, reducing the restrictive measures in the negative list, and adding measures in the positive lists for cross-border services as well as cultural and telecommunications services. In June 2017, the Investment Agreement and the Agreement on Economic and Technical Cooperation (Ecotech Agreement) were signed under the framework of CEPA.
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 Hong Kong- Shenzhen Stock Connect the Mutual Recognition of Funds, and the Bond Connect scheme are all important steps towards opening up the Mainland’s capital markets and have reinforced Hong Kong’s role as China’s leading offshore RMB market. Additional connect schemes such as ETF Connect (for exchange-traded fund products) are also under exploration by Hong Kong authorities. In 2017, Chief Executive Carrie 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 |
Company Name
HEALTH CREATION
PHARMACEUTICAL LIMITED
ADDRESS
Registered Office:-
c/o Gangfeng Group (HK) Ltd.
Room 1318-20, 13/F., Hollywood Plaza, 610
Nathan Road, Mongkok, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
64417754
COMPANY FILE NUMBER
2203683
DATE OF INCORPORATION
13th
February, 2015.
ISSUED SHARE CAPITAL
HK$10,000.00
SHAREHOLDER
(As per registry dated 13-02-2017)
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Name |
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No. of shares |
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TAO Geng Ping |
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10,000 ===== |
DIRECTOR
(As per registry dated 13-02-2017)
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Name (Nationality) |
Address |
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TAO Geng Ping |
Room 6, Block 25, No. 606 Apartment,
Nanlian Road, Qingyuanpu District, Nanchang City, Jiangxi Province, China. |
SECRETARY
(As per registry dated 13-02-2017)
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Name |
Address |
Co. No. |
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Gangfeng Group (HK) Ltd. |
Room 1318-1320, 13/F., Hollywood Plaza, 610
Nathan Road, Mongkok, Kowloon, Hong Kong. |
1037856 |
GENERAL
Please be advised that Health Creation
Pharmaceutical Limited was a private limited company which has been dissolved
by deregistration since September 2017.
It was formally deregistered on 29th September, 2017, the date of the
publication of Gazette Notice No. 7257.
The subject was accordingly dissolved by deregistration.
The subject was incorporated on 13th
February, 2015 as a private limited liability company under the Hong Kong Companies
Ordinance.
It did not have its own operating
office. Its registered office was in a
commercial service firm located at ‘Room 1318-1320, 13/F., Hollywood Plaza, 610
Nathan Road, Mongkok, Kowloon, Hong Kong’ known as ‘Gangfeng Group (HK)
Ltd.’ which had handled its correspondences and documents. This secretarial company was also the
corporate secretary of the subject.
The subject had no employees in Hong Kong.
According to the Companies Registry of Hong
Kong, the subject had issued 10,000 ordinary shares of HK$1.00 each which were
wholly-owned by Mr. Tao Geng Ping who was a China merchant.
He was a China ID holder and did not have the
right to reside in Hong Kong. He was
also the only director of the subject.
His registered address was in Nanchang City, Jiangxi Province, China.
The subject was a pharmaceutical trader.
The background of Mr. Tao Geng Ping and his
associated company in China are unknown to us.
The subject’s business in Hong Kong was not
active. History in Hong Kong was just
over two years and seven months.
The subject was formally dissolved by
deregistration on 29th September, 2017.
On the whole, since the subject has been
dissolved by deregistration, consider it not suitable for any business
engagements.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.38 |
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1 |
INR 91.09 |
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Euro |
1 |
INR 79.75 |
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HKD |
1 |
INR 8.57 |
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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PRA |
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Report Prepared
by : |
KET |
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.