MIRA INFORM
REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
SINO
TRADE CO. |
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Registered Office : |
c/o WinGate Business Ltd., Room 2301, 23/F., World-Wide House, 19 Des Voeux Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.01.2007 |
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Com. Reg. No.: |
37551719-000-18 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of Toiletries, porcelain ware, luggage, bags, PC accessories, power tools, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Bottom of Form
Company name
SINO TRADE CO.
Company ADDRESS
10/F., Fook Shing Court, 50 Wyndham Street, Central, Hong Kong.
PHONE: 2905 1132, 2905 1142
FAX: 2905 1131
E-MAIL: info@sino-trade.net
MANAGEMENT
Manager: Mr. Sheik Noorul Ameen (Mobile: 9812 4225)
SUMMARY
Establishment: 18th January, 2007.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Office:-
c/o WinGate Business Ltd.
Room 2301, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong.
Operating Office:-
10/F., Fook Shing Court, 50 Wyndham Street, Central, Hong Kong.
BUSINESS REGISTRATION NUMBER
37551719-000-18
MANAGEMENT
Manager: Mr. Sheik Noorul Ameen
SOLE PROPRIETOR
Name: Mr. Sheik Noorul Ameen
Residential Address: Flat C, 2/F., 120 Fuk Wing Street, Shamshuipo, Kowloon, Hong Kong.
HISTORY
The subject was established on 18th January, 2007 as a sole proprietorship concern owned by Mr. Sheik Noorul Ameen under the Hong Kong Business Registration Regulations.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Toiletries, porcelain ware, luggage, bags, PC accessories, power tools, etc.
Employees: Nil.
Commodities Imported: China, India, other Asian countries, etc.
Markets: India, other Asian countries, Europe, North America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit or Loss: Making a very small profit in the past two years.
Condition: Business is fairly active.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Small.
GENERAL
Sino Trade Co. is a sole proprietorship set up and owned by Mr. Sheik Noorul Ameen who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently.
The subject commenced business in December 2010. Its registered office is in a commercial service firm located at Room 2301, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong known as WinGate Business Ltd. which is handling its correspondences and documents. The subject has no employees in Hong Kong.
The subject’s operating address is located at 10/F., Fook Shing Court, 50 Wyndham Street, Central, Hong Kong. This office is in a residential building which is supposed to be the new residence of Sheik Noorul Ameen.
The subject is involved in OEM business. It is also a buying office with prime focus on China trade.
The subject has had branch offices in China and India. The presence of offices in these countries has acted as a springboard in the growth of the subject, which now has trade activities in Western and Eastern Europe, the United States, Latin America, India, Thailand, Northern and South Africa, etc.
The subject is trading in the following commodities: toiletries, porcelain ware, luggage sets, travel bags, handbags, PC accessories, pet items, infant items, stainless steel household items, tools, power tools, candles, 1 $/Euro/Pound items, sundries, etc. Commodities are chiefly sourced from China. Prime markets are Europe, North America, Asian countries, Africa, etc.
It is likely that the subject’s India office was set up in about 1995. Business has been claimed to be “successful”.
The subject’s business is chiefly handled by Sheik Noorul Ameen himself. He can be reached at his mobile phone number 9812 4225.
The history of the subject in Hong Kong is just over four years and seven months.
On the whole, since the operating office of the subject is in a residential building, consider it good for normal business engagements on secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.13 |
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UK Pound |
1 |
Rs.75.52 |
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Euro |
1 |
Rs.66.53 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.