MIRA
INFORM REPORT
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Report Date : |
23.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SANDA KING
INDUSTRIES LTD. |
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Registered Office : |
Room 1501, 15/F., Lippo Sun Plaza, 28 Canton Road, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.08.1987 |
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Com. Reg. No.: |
12644634 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter
and Wholesaler of Digital products, Computer related products, Audio and
Video products, etc. |
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 : |
Regular |
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Litigation : |
Exists |
name of the company
SANDA
KING INDUSTRIES LTD.
ADDRESS
Room 1501, 15/F.,
Lippo Sun Plaza, 28 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2723 5613, 2724 2096
FAX: 2723 1263
E-MAIL: sandaking@sandaking.com
(Your enquiry
given as: SANDAKING INDUSTRIES LTD of the same address.)
MANAGEMENT
Managing
Director: Ms. Lu Yueh Chun
SUMMARY
Incorporated on: 28th August, 1987.
Organization: Private Limited Company.
Capital: Nominal: HK$11,000,000.00
Issued: HK$11,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 1501, 15/F.,
Lippo Sun Plaza, 28 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
P.O. Box 98808,
Tsimshatsui, Kowloon, Hong Kong.
Taiwan Branch:-
Sanda King
Industries Ltd., Taiwan Branch
Room 6, 5F, 43
Alley, 115 Chungshan North Road, Section 2, Taipei, Taiwan.
[Tel:
886-2-2531-9720; Fax: 886-2-2571-2696]
Affiliated Companies:-
Master Electronics
Industries Ltd., Hong Kong.
Ram Ever Prosper
International Inc., Taiwan.
BUSINESS REGISTRATION NUMBER
12644634
COMPANY FILE NUMBER
197364
MANAGEMENT
Managing
Director: Ms. Lu Yueh Chun
CAPITAL
Nominal Share Capital:
HK$11,000,000.00 (Divided into 11,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$11,000,000.00
SHAREHOLDER
(As per registry dated 28-08-2008)
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Name |
Occupation |
No. of shares |
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LU Yueh Chun |
Merchant |
11,000,000 ======== |
DIRECTOR
(As per registry dated 28-08-2008)
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Name (Nationality) |
Address |
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LU Yueh Chun |
Suite 2506, Hampton Court, Gateway
Apartment, Harbour City, Canton Road, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 28-08-2008)
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Name |
Address |
Co. No. |
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Welldone
Accounting & Secretarial Ltd. |
Flat B, 6/F., Wing Wong Commercial Building, 557-559 Nathan Road,
Kowloon, Hong Kong. |
208931 |
HISTORY
The subject was incorporated
on 28th August, 1987 as a private limited liability company under the Hong Kong
Companies Ordinance.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Digital products, computer
related products, audio and video products, etc.
Employees: 6.
Commodities
Imported: China
and other Asian countries.
Markets: Taiwan, India, and other Asian
countries, Europe, North and South America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
MEMBERSHIP
The Indian Chamber
of Commerce Hong Kong, Hong Kong.
FINANCIAL INFORMATION
Nominal Share
Capital: HK$11,000,000.00 (Divided into 11,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$11,000,000.00
Mortgage or Charge
(since 08-5-2007):-
Date of Lien and Set-off Agreement
(Fixed Deposits): 08-05-2007
Amount: For securing general credit
facilities
Property: Fixed Deposit Receipt No.: DFN6050169
Principal amount: HK$4,000,000
Maturity Date:
08-08-2007
Mortgagee: HBZ Finance Ltd., Hong Kong.
Profit & Loss: Made small profits in the past years.
Condition: Business is normal.
Facilities: Making active use of general
banking facilities.
Payment: Met obligations as required.
Commercial
Morality: Satisfactory.
Bankers:-
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
HBZ Finance Ltd.,
Hong Kong.
BNP Paribas,
Hong Kong Branch.
Standing: Normal.
GENERAL
Having issued 11
million ordinary shares of HK$1.00 each, Sanda King Industries Ltd. is
wholly-owned by Ms. Lu Yueh Chun who is a Taiwan businesswoman. Ms. Lu has been in Hong Kong for a very long
time. She is also the only director of
the subject.
The subject has
got a branch in Taiwan also known as Sanda King Industries Ltd. [Taiwan Sanda
King]. Taiwan Sanda King is the head
office of the Sanda King Group of companies.
Besides the subject, Taiwan Sanda King also has set up an office in
China.
Set up in 1987,
the subject is trading in the following commodities: B/W TVs, CRT TVs, LCD TVs,
TFT TVs, car speakers, car stereos, DVDs and VCDs, Hi-Fi systems, home
theatres, personal sterols, plasma TVs, radio cassettes, satellite receivers,
digital products, computer related products, phones, kitchen ware, etc.
Commodities are
sourced from China and other Asian countries.
China Sanda King is responsible for the sourcing activities. Prime markets are Taiwan, India, Southeast
Asia, North America, South America, Europe, the Middle East, etc.
To our knowledge,
the subject has got a number of customers in India and Bangladesh, etc.
Formerly the
subject was owned by a number of Indian.
In recent years, it has been acquired by Ms. Lu Yueh Chun. Lu seems to be also the owner of Taiwan
Sanda King.
On the whole,
consider the subject good for normal business engagements.
REMARKS
Court case record:-
|
Date |
Plaintiff |
Defendant |
Cause |
Amount |
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Feb. 1996 |
Jardine Shipping Agencies (Hong Kong) Ltd. |
Sanda King Industries Ltd. |
Amount due |
HK$28,197 |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.72 |
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UK Pound |
1 |
Rs.84.81 |
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Euro |
1 |
Rs.67.60 |
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%)