MIRA
INFORM REPORT
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Report Date : |
15.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SINOLINK INDUSTRIES LTD |
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Registered Office : |
2FL Eader Centre 39-41 Hankow Rd Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.10.1990 |
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Com. Reg. No.: |
0289919 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Imports and Local Purchase of Electronics, Hi-Fi Systems, Home
Appliances, Household and Sundry Items |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name and address of the company
SINOLINK INDUSTRIES LTD
2FL EADER CENTRE 39-41 HANKOW RD
TSIMSHATSUI KOWLOON, HONG KONG.
TEL: 852-27362300 FAX:
852-27362260
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 23, 1990
REGISTRATION NO. :
0289919
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. RAJKUMAR NARAINDAS SABNANI (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 3,000,000
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80283 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –Hong Kong Dollars
*Company Name*
=============
Incorporated as : REMIX
ELECT LTD
Date of incorporation : 23
October, 1990
Changed name to : IMOTO
EXPORTS LTD
Date of changed : 10
April, 2002
Changed name to : SINOLINK
INDUSTRIES LTD
Date of changed : 29
May, 2007
*Company Registration*
==================
(1)
License number : 0289919
Date issued : 23
October, 1990
Issuing authority : Companies
Registry
Legal form : Private
Limited Company
Type of license :
Corporate
(2)
License number : 14193677-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Capital Details*
============
Authorized capital : USD 3,000,000.00 divided into 3,000,000 ordinary
shares at USD 1.00/-each
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
=================
Only Mr. Rajkumar Naraindas Sabnani can sign on behalf of the company
with seal affixed.
SC is not known to host website of its own at present.
E-mail: sushil@acemk.com.hk
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholders
: 2
Total number of ordinary shares
: 3,000,000
Shareholders' Name
No. of Ordinary
Shares Amount of Shares (USD) % of Shares
-------------------------- ----------------------------
-------------------------------
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Rajkumar Naraindas Sabnani 2,999,999 2,999,999.00 100.00
Sunil Jamanand Turani 1
1.00 0.00
Share Transfer
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Date Transfered
Transferor Transferee No. of Ordinary Shares
---------------------- -------------- --------------
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26 February, 2007
Nirmal Kumar Ramchand Dhusia
Sunil Jamanand Turani 1
*Company Secretary*
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DHUN'S MANAGEMENT SERVICES LTD
Address : 7Fl Man On Commercial
Bldg 12-13 Jubilee St Central Hong Kong
CR no. : 27006
Email :
cpa@dhunsukh.com.hk
Management: Mr. Vijay Kumar Amrutlal Sabani, Manager
Name Nationality
Job Description Dept. / Division
Mr. Vijay Kumar Amrutlal Sabani Indian
Manager Quality Control
*Key Personnel*
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(1)
Rajkumar Naraindas Sabnani
National ID No. :
P325670(0)
Address : 2Fl
Baguio Villa Lower - Block 46 Pokfulam 555 Visctoria Rd Hong Kong
Responsibilities : Handles
the overall management of the company.
(2)
Vijay Kumar Amrutlal Sabani
National ID No. :
R283097(2)
Address :
Flat F, South Sea Mansion 81 Chatham Rd Tsimshatsui Kowloon Hong Kong
(3)
Sunil Jamanand Turani
National ID No. :
R279392(9)
Address :
Flat F, 5Fl South Sea Mansion 81 Chatham Rd Tsimshatsui East Kowloon Hong Kong
Date of appointment : 9
February, 2007
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Imports and local purchase of electronics, hi-fi systems, home
appliances, household and sundry items.
2. Sales and distribution of products to international market.
Products: Alarm clock
Coffee
grinders
Electric
kettle
Electrical
appliances
Electronic
products
*Payment Terms*
=============
Sales
------
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Local Distribution Network*
=======================
There is no record of local sales since the prime focus of the firm's
activity is concentrated on exports only.
*Export Markets*
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100% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
50
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the
payment pattern of SC based upon our Payment Database, comments from suppliers
of SC, information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for
MODERATE amounts depending on individual judgement experience.
As a private limited company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank name : INDIAN OVERSEAS BANK
Branch : Central Hong Kong
Account no. : 1000441378
Swiftcode : IOBAHKHH
SC is considered small-sized in its line with a long history. Credit in
the range of moderate amount can be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3600 Electronic
& Electric Equip.
Trading 3639 Household
appliances, and parts,
Trading 3651 Radio &
tv receiving sets; phonographs; recorders; microphones; loudspeakers; audio
amplifiers; & oth audio equip
Trading 5064 Electrical
Appliances
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 6601990000 Umbrellas
Trading 7615 Household
art etc, pot scour etc, san ware, aluminum
Trading 8211 Knives
with blades & blades for knives, base metal parts
Trading 8211929030 Kitchen
and butcher knives with fixed blades
Trading 8509 Electromech
domestic appliances; parts
Trading 8509400040 Electric
domestic food grinders and processors
Trading 8513102000 Flashlights
Trading 8518 Microphones;
loudspeakers; sound amplifier etc, parts
Trading 8518500000 Electric
sound amplifier sets
Trading 9105110000 Alarm
clocks, battery or ac powered
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Household
items
Trader Electronic
products
Trader Hi-fi
systems
Trader Coffee
grinders
Trader Houseware
products
Trader Umbrella
Trader Electrical
appliances
Trader Stainless steel
products
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Argentina
Exporting to Asia
Exporting to Europe
Exporting to India
Exporting to Italy
Exporting to Poland
Exporting to South America
Importing from Asia
Importing from China
Importing from Taiwan
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)