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MIRA
INFORM REPORT
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Report No. : |
508995 |
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Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
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Name : |
FRESENIUS KABI ASIA PACIFIC LIMITED |
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Registered Office : |
Room 5001-5027,
50/F., Sun Hung Kai Centre, 30 Harbour Road, Wanchai, |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.02.2001 |
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Com. Reg. No.: |
31582695 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Importer,
Exporter and Wholesaler of Medical equipment such as for infusion therapy and
clinical nutrition |
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No. of Employees : |
30. (Including affiliates in Hong Kong) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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.
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 and address
FRESENIUS KABI
ASIA PACIFIC LIMITED
Address: Room 5001-5027, 50/F., Sun
Hung Kai Centre,
30 Harbour Road,
Wanchai,
Hong Kong.
ADDRESS: Room 5001-5027, 50/F., Sun Hung Kai
Centre, 30 Harbour Road, Wanchai, Hong Kong.
PHONE: 2152 1300, 2116 2683
FAX: 2877 8943, 2116 3420
E-MAIL: asia-pacific@fresenius-kabi.com
ulf.jansson@fresenius-kabi.com
MANAGEMENT
Managing
Director: Mr. Satish Bapusaheb Kulkarni
SUMMARY
Incorporated
on: 12th February, 2001.
Organization: Private Limited Company.
Issued Share
Capital: HK$1,000.00
Business Category: Medical Service Provider.
Group
Sales:- (Year ended 31-12-2017)
€33,886
million (Fresenius Group)
€ 6,358 million
(Fresenius Kabi Division)
Company Employees:
30. (Including affiliates in Hong Kong)
Group
Employees:- (As at 31-12-2017)
273,249. (Fresenius Group)
36,380. (Fresenius Kabi Division)
Main Dealing
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking
Relation: Good.
ADDRESS
Registered
Head Office:-
Room 5001-5027,
50/F., Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong.
Immediate
Holding Company:-
Fresenius Kabi Aktiengesellschaft
Else-Kröener-Strasße
1, 61352 Bad, Homburg, Germany.
[Tel: 49 (0)
6172-686-0]
Ultimate
Holding Company:-
Fresenius SE &
Co. KgaA
Else-Kröener-Strasße
1, 61352 Bad, Homburg, Germany.
[Tel: 49 (0)
6172-608-0; Fax: 49 (0) 6172-608-2294]
Affiliated
Companies:-
Fresenius Group of Companies
APP
Pharmaceuticals Inc., USA.
Beijing Fresenius
Kabi Pharmaceutical Co. Ltd., China.
Calea France
S.A.S., France.
Calea Ltd.,
Canada.
Calea UK Ltd., UK.
Fresenius Biotech
Beteiligungs GmbH, Germany.
Fresenius HemoCare
Austria GmbH, Austria.
Fresenius Hemocare
Beteiligungs GmbH, Germany.
Fresenius HemoCare
Brazil Ltda., Brazil.
Fresenius HemoCare
CZ s.r.o., Czech Republic.
Fresenius HemoCare
GmbH, Germany.
Fresenius HemoCare
Italia S.r.l., Italy.
Fresenius HemoCare
Netherlands B.V., Netherlands.
Fresenius Kabi
(China) Co. Ltd., China.
Fresenius Kabi
(Schweiz) AG, Switzerland.
Fresenius Kabi
(Singapore) Pte. Ltd., Singapore.
Fresenius Kabi
(Thailand) Ltd., Thailand.
Fresenius Kabi AB,
Finland.
Fresenius Kabi AB,
Sweden.
Fresenius Kabi AG,
Germany.
Fresenius Kabi
Anti-Infectives S.r.l., Italy.
Fresenius Kabi
Argentina SA, Argentina.
Fresenius Kabi
Asia Pacific Ltd., Vietnam.
Fresenius Kabi
Australia Pty. Ltd., Australia.
Fresenius Kabi
Austria GmbH, Austria.
Fresenius Kabi
Brazil Ltda., Brazil.
Fresenius Kabi
Chile Ltda., Chile.
Fresenius Kabi
Colombia S.A.S., Colombia.
Fresenius Kabi
Denmark, Denmark.
Fresenius Kabi
Deutschland GmbH, Germany.
Fresenius Kabi
EOOD, Bulgaria.
Fresenius Kabi
España S.A., Spain.
Fresenius Kabi
France S.A.S, France.
Fresenius Kabi
Hellas S.A., Greece.
Fresenius Kabi
Hong Kong Ltd., Hong Kong.
Fresenius Kabi
Hungary Kft., Hungary.
Fresenius Kabi
Ilac Sanayi ve Ticaret Ltd. Sirketi, Turkey.
Fresenius Kabi
India Private Ltd., India.
Fresenius Kabi
Ireland, Ireland.
Fresenius Kabi
Italia S.p.A., Italy.
Fresenius Kabi
Italia S.r.l., Italy.
Fresenius Kabi
Japan K.K., Japan.
Fresenius Kabi
Korea Ltd., South Korea.
Fresenius Kabi
Logistic GmbH, Germany.
Fresenius Kabi
Ltd., UK.
Fresenius Kabi Malaysia
Sdn. Bhd, Malaysia.
Fresenius Kabi
México S.A. de C.V., Mexico.
Fresenius Kabi
N.V., Belgium.
Fresenius Kabi
Nederland B.V., Netherlands.
Fresenius Kabi New
Zealand Ltd., New Zealand.
Fresenius Kabi
Norge A/S, Norway.
Fresenius Kabi
North America, USA.
Fresenius Kabi
Oncology Ltd., India.
Fresenius Kabi
Pharma Portugal Lda., Portugal.
Fresenius Kabi
Pharmaceuticals Holding Inc., USA.
Fresenius Kabi
Philippines Inc., Philippines.
Fresenius Kabi
Polska Sp. z.o.o., Poland.
Fresenius Kabi
Romania S.R.L., Romania.
Fresenius Kabi
s.r.o., Czech Republic.
Fresenius Kabi
Scientific Office, Egypt.
Fresenius Kabi
South Africa (Pty) Ltd., South Africa.
Fresenius Kabi
Taiwan Ltd., Taiwan.
Fresenius Kabi
Vermogensverwaltung GmbH, Germany.
Fresenius Kabi,
France.
Fresenius Kabi,
UAE.
Fresenius Netcare
GmbH, Germany.
Fresenius ProServe
GmbH, Germany.
Fresenius Vial
S.A.S., France.
Hosped GmbH,
Germany.
Labesfal –
Laboratório Almiro S.A., Portugal.
Laboratorio
Sanderson S.A., Chile.
MC Medizintechnik
GmbH, Germany.
Medi1one Medical
GmbH, Germany.
P.T. Fresenius
Kabi Indonesia, Indonesia.
Sino-Swed
Pharmaceutical Corporation Ltd., China.
etc.
BUSINESS REGISTRATION NUMBER
31582695
COMPANY FILE NUMBER
0746811
MANAGEMENT
Managing
Director: Mr. Satish Bapusaheb Kulkarni
ISSUED SHARE CAPITAL
HK$1,000.00
SHAREHOLDERS
(As
per registry dated 12-02-2018)
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Name |
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No.
of shares |
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Fresenius Kabi Aktiengesellschaft Else-Kröener-Strasße
1, 61352 Bad, Homburg, Germany. |
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999 |
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Fresenius Kabi Deutschland GmbH Else-Kröener-Strasße
1, 61352 Bad, Homburg, Germany. |
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1 |
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––––– |
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Total: |
1,000 ==== |
DIRECTORS
(As
per registry dated 12-02-2018)
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Name (Nationality) |
Address |
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Gerrit STEEN |
House 7, 2 Barker Road, Hong Kong. |
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Ulf JANSSON |
Flat A, 43/F., Tower 3, Bel-Air on The
Peak ISL South, 68 Bel-Air Peak Avenue, Hong Kong. |
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Satish
Bapusaheb KULKARNI |
Flat D, 30/F., Tower 4, Hoi Wan Court,
South Horizon, 4 South Horizon Drive, Hong Kong. |
SECRETARY
(As
per registry dated 12-02-2018)
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Name |
Address |
Co.
No. |
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Clarson
Services Ltd. |
18/F., Edinburgh Tower, The Landmark, 15 Queen’s Road Central, Hong
Kong. |
0582737 |
HISTORY
The
subject was incorporated on 12th February, 2001 as a private limited liability
company under the Hong Kong Companies Ordinance.
Initially
the subject was located Room 5101-5123, 51/F., Sun Hung Kai Centre, 30 Harbour
Road, Wanchai, Hong Kong, moved to Room 5012-5036, 50/F. of the same building
in March 2009, and further to the present address in August 2012.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer, Exporter and
Wholesaler.
Lines: Medical equipment such as
for infusion therapy and clinical nutrition, etc.
Company Employees:
30. (Including affiliates in Hong Kong)
Group
Employees:- (As at 31-12-2017)
273,249. (Fresenius Group)
36,380. (Fresenius Kabi Division)
Commodities
Imported: Imported from Germany and other European countries.
Markets: China, Hong Kong and other
Asian countries.
Group
Sales:-
|
FY |
Fresenius
Group |
Fresenius
Kabi Division |
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Year ended 31-12-2013 |
€20,545 million |
--- |
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Year ended 31-12-2014 |
€23,459 million |
--- |
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Year ended 31-12-2015 |
€27,995 million |
--- |
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Year ended 31-12-2016 |
€29,471 million |
€6,007 million |
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Year ended 31-12-2017 |
€33,886 million |
€6,358 million |
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
MEMBERSHIP
German Chamber of
Commerce, Hong Kong.
FINANCIAL INFORMATION
Issued Share
Capital: HK$1,000.00
Group
Net Income:-
|
FY |
Fresenius
Group |
Fresenius
Kabi Division |
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Year ended 31-12-2013 |
€1,028 million |
--- |
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Year ended 31-12-2014 |
€1,088 million |
--- |
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Year ended 31-12-2015 |
€1,436 million |
--- |
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Year ended 31-12-2016 |
€1,560 million |
€675 million |
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Year ended 31-12-2017 |
€1,816 million |
€702 million |
Profit or Loss: Group made profits in the past years.
Condition: Business is active.
Facilities: Making active use of general
banking facilities.
Payment: Regular
Commercial
Morality: Good.
Bankers:-
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
DZ Bank AG
Deutsche Zentral-Genossenschaftsbank, Frankfurt AM Main, Hong Kong Branch.
Standing: Very Good.
GENERAL
Fresenius
Kabi Asia Pacific Limited is a wholly-owned subsidiary of Fresenius Kabi
Aktiengesellschaft [FKA] which in turn is owned by Fresenius SE & Co. KGaA
[Fresenius], both are Germany-based firms.
The latter is a listed firm in Germany.
The
subject is a segment of the Fresenius Group.
The Fresenius Group consists of five business segments, each of which is
responsible for its own business operations worldwide: Fresenius Medical Care,
Fresenius Kabi and Fresenius Helios, Fresenius Vamed and Fresenius Biotech.
The
subject is the Asia-Pacific headquarters for FKA. It belongs to the Fresenius Kabi Division.
Fresenius
Group is a global health care company with products and services for dialysis,
the hospital and the medical care of patients at home.
Fresenius
Kabi is the leader in Infusion Therapy and Clinical Nutrition in Europe and in
its most important countries of Latin America and Asia Pacific. In addition, Fresenius Kabi is active in the
field of Transfusion Technology, supplying blood processing systems as well as
blood bags and filters. Fresenius Kabi
provides treatment and care for critically-ill patients in both the hospital
and out-patient environments. Fresenius
Kabi provides clients with the services of Infusion Therapy, Parenteral
Nutrition, Enternal Nutrition, Infusion Technology, Transfusion Technology, and
Ambulatory Care.
Fresenius
Kabi employed about 36,380 people worldwide as at December 2017. It has a global network of over 50 sales and
marketing organizations and 35 production sites. Its factory in Friedberg, Germany, has been
in operation since 1997, is one of the modern European plants for the
production of standard infusion solutions.
In 1999, Fresenius Kabi opened a highly automated production site for
parenteral nutrition infusion solutions in Uppsala, Sweden.
Fresenius
Kabi was formed by combining Fresenius Group’s Pharma division with the
infusion solution business acquired from Pharmacia & Upjohn (Kabi) in
1999. The new company has become
Europe’s leader in the field of nutrition and infusion therapy, offering a
comprehensive product and service portfolio worldwide for hospitals and
patients at home.
The
subject is also marketing Infusion Therapy and Clinical Nutrition in Hong Kong. All of its customers are hospitals or
patients staying at home.
Fresenius
Kabi currently is engaged in launching new products having good quality.
In
2012, Fresenius Kabi acquired the transfusion technology company Fenwal and
creates a global leader in transfusion technology.
Within
clinical nutrition, Fresenius Kabi is one of the few companies worldwide to
offer parenteral nutrition (administered intravenously) and enteral nutrition
(administered as sip or tube feed via the gastrointestinal tract), as well as
nutrition pumps and infusion disposables.
The
subject is fully supported by Fresenius Kabi and its affiliated companies
worldwide.
For
the year ended 31st December, 2017, the sales of Fresenius Kabi amounted to
€6,358 million, grew by 5.8% comparing with that of €6,007 million in FY
2016. Net income in this division for
the year was €702 million, grew by 4.0% comparing with that of €675 million in
FY 2016.
As
far as the turnover of the Group is concerned, for the year ended
31st December, 2017, the sales of the Group amounted to €33.9 billion,
grew by 14.9% comparing with that of €29.5 billion in FY 2016. Net income for the year was €1.8 billion,
grew by 12.5% comparing with that of €1.6 billion in FY 2016.
On
the whole, in view of the subject’s background and parentage, consider it good
for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.71 |
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|
1 |
INR 91.89 |
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Euro |
1 |
INR 79.89 |
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HKD |
1 |
INR 8.66 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
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Report Prepared
by : |
POJ |
RATING EXPLANATIONS
|
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
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
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.