MIRA INFORM REPORT

 

 

Report Date :

01.08.2011

 

IDENTIFICATION DETAILS

 

Name :

SINOWIN  PACIFIC  LTD.

 

 

Registered Office :

Flat B7, 11/F., Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

10.12.2003

 

 

Com. Reg. No.:

34432308

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Importer and Re-exporter of all Kinds of Pharmaceuticals, Chemicals and Poisons.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small company

 

 

Payment Behaviour :

Regular

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name

 

SINOWIN  PACIFIC  LTD.

 

 

Company ADDRESS

 

Flat B7, 11/F., Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:                  2368 3777,  2366 9260

FAX:                       2724 2912

 

 

MANAGEMENT

 

Managing Director:  Mr. Sadhak Mushtak Ahmed Yaseen

 

 

SUMMARY

 

Incorporated on              :  10th December, 2003.

 

Organization                  :  Private Limited Company.

 

Capital: Nominal            : HK$10,000.00

                                      Issued:HK$2.00

 

Business Category         : Chemical Trader.

 

Employees                    : Nil.

 

Main Dealing Banker      : Bank of China (Hong Kong) Ltd., Hong Kong.

 

Banking Relation            :  Satisfactory.

Company ADDRESS

 

Registered Head Office:-Flat B7, 11/F., Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

Affiliated Company:-Shamas, Hong Kong.  (Same address)

 

BUSINESS REGISTRATION NUMBER 

 

34432308

 

 

COMPANY FILE NUMBER 

 

0874736

 

 

MANAGEMENT

 

Managing Director:  Mr. Sadhak Mushtak Ahmed Yaseen

 

 

CAPITAL

 

Nominal Share Capital    : HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital      : HK$2.00

 

 

SHAREHOLDERS

(As per registry dated 10-12-2010)

 

Name

 

No. of shares

Ziauddeen Ahmed AHMED YASEEN

 

1

Sadhak Mushtak AHMED YASEEN

 

1

 

 

––

 

Total:

2

=

 

 

 

 

 

DIRECTORS  

(As per registry dated 10-12-2010)

 

Name

(Nationality)

 

Address

Ziauddeen Ahmed AHMED YASEEN

Flat B7, 11/F., Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

 

Sadhak Mushtak AHMED YASEEN

Flat B7, 11/F., Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

SECRETARY 

(As per registry dated 10-12-2010)

 

Name

Address

Co. No.

VMC Secretaries Ltd.

Room 1617-1618, 16/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.

750831

 

 

HISTORY

 

The subject was incorporated on 10th December, 2003 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 and Re-exporter.

 

Lines                            : All kinds of pharmaceuticals, chemicals and poisons.

 

Employees                    : Nil.

 

Commodities Imported    : Imported from Europe and India.

 

Markets                                    : Hong Kong, China, other Asian countries.

 

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

 

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

 

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital    : HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital      : HK$2.0

 

Profit or Loss                 : Making a small profit in the past years.

 

Condition                       : Business is normal.

 

Facilities                       : Making fairly active use of general banking facilities.

 

Payment                       : Met obligations as required.

 

Commercial Morality      : Satisfactory.

 

Banker                          : Bank of China (Hong Kong) Ltd., Hong Kong.

 

Standing                       : Small.

 

 

GENERAL

 

Incorporated in December 2003, Sinowin Pacific Ltd. is a private limited company equally owned by two Arabian: Mr. Ziauddeen Ahmed Ahmed Yaseen and Mr. Sadhak Mushtak Ahmed Yaseen.  Both of them, belong to the Ahmed Yaseen family, have been in Hong Kong for a very long time.  They are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.

The subject has just issued 2 ordinary shares of HK$1.00 each while each of the shareholders holds a single share.

The directors of the subject are also the two shareholders.

The subject’s registered office is located at Flat B7, 11/F., Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong where is a residential building which is not trespassed by outsiders.  The subject’s registered office is also the residence of the two Ahmed Yaseens.  To our knowledge, the premises is owned by Mr. Momin Khan who bought it in December 1985 at a consideration of HK$850,000.00.  The two Ahmed Yaseens have been leasing the premises from Mr. Khan Shabbir Ahmed who is the attorney of the premises.

The subject has no employees in Hong Kong.

The subject is trading in pharmaceuticals, chemicals and poisons.  It is one of the licensed wholesalers of poisons approved by the Government of the Hong Kong Special Administrative Region.  Commodities are imported from Europe and India.  Hong Kong is its prime market.  It also re-exports some of the pharmaceuticals and chemicals to China, other Asian countries and the Middle East.  Business is normal.

The subject has had an affiliated company known as Shamas located at its operating address.  Shamas is a partnership jointly owned by Mr. Ziauddeen Ahmed Ahmed Yaseen and Mr. Sadhak Mushtak Ahmed Yaseen.

Business commenced in July 1975, Shamas is trading in diamond, ruby, sapphire, precious stones, semi-precious stones, gold and general merchandises, etc.  Rough diamonds, polished and cut diamonds are imported from India and Belgium, Israel, etc.

After processing in Hong Kong, finished products are marketed in Hong Kong, exported to Europe and other Asian countries.  Business has been rather active.

The business of the subject and Shamas is chiefly handled by the two Ahmed Yaseens.

The subject’s history is over seven years and two months in Hong Kong.

On the whole, consider the subject good for normal business engagements.

 

COURT CASES:            None per our.

 

 

                                                                                    

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.16

UK Pound

1

Rs.72.10

Euro

1

Rs.63.10

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Company

----

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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