MIRA INFORM REPORT

 

 

Report Date :           

19.03.2011

 

IDENTIFICATION DETAILS

 

Name :

SUN  SUI  CO.

 

 

Registered Office :

c/o Business Centre, Unit M, 2/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

18.10.2007

 

 

Com. Reg. No.:

38510796-000-10

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, etc.

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

 

SUN  SUI  CO.

 

 

Company ADDRESS

 

c/o Business Centre

Unit M, 2/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mr. Harsh Vinodbhai Vyas

 

 

SUMMARY

 

Establishment:                          18th October, 2007.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   Nil.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

c/o Business Centre

Unit M, 2/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER 

 

38510796-000-10

 

 

MANAGEMENT

 

Manager:  Mr. Harsh Vinodbhai Vyas

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Harsh Vinodbhai VYAS

Residential Address:      1700, Godhuli Opp. Vaibhav Cinema, Near Ambaii Temple, Vallabh Vidya Nagar, Anand,

Gujarat, India.

 

 

HISTORY

 

The subject was established on 18th October, 2007 as a sole proprietorship concern owned by Mr. Harsh Vinodbhai Vyas under the Hong Kong Business Registration Regulations.

At the very beginning, the subject was located at Flat J-2, 8/F., Kaiser Estate, Phase 2, 51 Man Yue Street, Hunghom, Kowloon, Hong Kong, moved to Flat 13B, 13/F., Block B, Ocean View Court, 27A Chatham Road, Tsimshatsui, Kowloon, Hong Kong in early August 2008; to Flat 13C, 13/F., Block C, Winston Mansion, 121-123 Chatham Road, Tsimshatsui, Kowloon, Hong Kong in mid-August 2008; and further to the present address in October 2009.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of diamonds and jewellery products, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       Hong Kong, Japan, other Asian countries, 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:                Suffering from a small loss in 2010.

 

Condition:                      Business is under development.

 

Facilities:                      Trying to make use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Fairly satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Sun Sui Co. is a sole proprietorship set up and owned by Mr. Harsh Vinodbhai Vyas who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.  He is also the manager of the subject.

The subject does not have its own operating office.  Its registered office is in a business centre located at Unit M, 2/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.  The business centre is handling its correspondences and documents.  The subject has no employees in Hong Kong.

Business commenced in October 2007.  The subject is a diamond importer, exporter and wholesaler.  It is engaged in manufacturing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds, etc.  Commodities are chiefly imported from India.  After processing in Hong Kong or China, finished products are exported to Japan, Taiwan and the other Asian countries.  The subject has got a number of diamond suppliers in India.

The subject’s business is chiefly handled by Vyas himself.  History in Hong Kong is just over three years and five months.

On the whole, consider it good for normal business engagements on secured basis.

 

COURT CASES:            None per our.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.09

UK Pound

1

Rs.72.82

Euro

1

Rs.63.43

 

 

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

 

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%)

 

 

 

 

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