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Report Date : |
04.07.2012 |
IDENTIFICATION DETAILS
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Name : |
SAINSBURY'S ASIA LTD. |
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Registered Office : |
Suite 1-7 & 12, 14/F., Tower 1, The Gateway, Harbour City, 25 Canton Road, Tsimshatsui, Kowloon |
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Country : |
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Date of Incorporation : |
27.10.2005 |
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Com. Reg. No.: |
36162109 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of products for convenience stores and supermarkets, etc. |
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No. of Employees : |
30 |
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 : |
Good |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
SAINSBURY'S ASIA
LTD.
ADDRESS: Suite 1-7 & 12, 14/F., Tower 1, The
Gateway, Harbour City, 25 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 3667 9300
Managing Director: Mr. Keith
Michael Holder
Incorporated on: 27th October,
2005.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Importer, Exporter and Wholesaler.
Group Sales: GBP 22,294
million (Year ended 17-03-2012)
Employees:
30.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Suite 1-7 & 12, 14/F., Tower 1, The Gateway, Harbour City, 25 Canton
Road, Tsimshatsui, Kowloon, Hong Kong.
Holding Company:-
Nash Court (Kenton) Ltd., United Kingdom.
Associated Companies:-
Global Media Vault Ltd., United Kingdom.
J Sainsbury Plc., United Kingdom.
Sainsbury’s Bank LLC, United Kingdom.
Sainsbury’s Supermarkets, Ltd., United Kingdom.
Tamer Energy Ltd., United Kingdom.
36162109
1003805
Managing Director: Mr. Keith
Michael Holder
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry dated 27-10-2011)
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Name |
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No. of share |
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Nash Court (Kenton) Ltd. 33 Holborn, London EC1N 2HT, United Kingdom. |
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1 = |
(As per registry dated 27-10-2011)
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Name (Nationality) |
Address |
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Keith Michael HOLDER |
80 Greenfield Villas, Ngau Liu, Sai Kung, New Territories, Hong
Kong |
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Nicolas Paul Michael Angelo MILLS-HICKS |
54 Circus Lodge, Circus Road, London, NW89JN, United Kingdom. |
(As per registry dated 27-10-2011)
|
Name |
Address |
Co. No. |
|
Loviting (H.K.) Ltd. |
11/F., One Pacific Place, 88 Queensway, Hong Kong. |
0149932 |
The subject was incorporated on 27th October, 2005 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.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of products for convenience stores and supermarkets, etc.
Employees: 30.
Commodities Imported: China, other Asian countries, etc.
Markets: UK,
other European countries, etc.
Group Sales (excluding VAT): GBP 21,102 million (Year ended 17-03-2011)
GBP 22,294 million (Year ended
17-03-2012)
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
D/P, O/A, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
Group Profit: GBP 640 million
(Year ended 17-03-2011)
GBP 598 million (Year ended
17-03-2012)
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making rather
active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Good.
Sainsbury’s Asia Ltd. is a subsidiary company of Nash Court (Kenton) Ltd.
which is a UK-based firm.
The subject in fact is a member of J Sainsbury Plc which is also a
UK-based firm.
The subject is trading in all kinds of commodities for supermarkets and
convenience stores.
J Sainsbury plc is the parent company of Sainsbury’s Supermarkets Ltd.,
commonly known as Sainsbury’s, the second largest chain of supermarkets
in the United Kingdom with a share of the UK supermarket sector of 16.6%. The group’s head office is in the Sainsbury’s
Store Support Centre in Holborn Circus, City of London. The group also has interests in property and
banking.
Sainsbury’s was founded in 1869 by John James Sainsbury and his wife
Mary Ann Sainsbury (née Staples), in London, England, and grew rapidly during
the Victorian era. It grew to become the
largest grocery retailer in 1922, pioneered self-service retailing in the UK,
and had its heyday during the 1980s. In
1995, Tesco overtook Sainsbury’s to become the market leader, and Asda became
the second largest in 2003, demoting Sainsbury’s into second place.
The founding Sainsbury family still retain approximately 15% of J
Sainsbury plc shares (as of May 2008), through various trusts. The family reduced their stake from 35% in
2005. The largest Sainsbury family
shareholders are Lord Sainsbury of Turville with 5.83% and Lord Sainsbury of
Preston Candover, who controls just under 3% of the company, and benefits from
1.6% of the equity included in the above.
The largest overall shareholder is the investment vehicle of the Qatari
royal family who now hold 26.145% of the company.
It is listed on the London Stock Exchange and is a constituent of the
FTSE 100 Index.
Now, J Sainsbury plc operates over 1,000 stores, including 440
convenience stores.
For the 52 weeks to 17th March, 2002, the sales (excluding VAT) of
J Sainsbury plc amounted to GBP 22,294 million (same period of
2011: GBP 21,102 million), profit for the period was GBP 598 million
(same period of 2011: GBP 640 million).
J Sainsbury plc has about 150,000 employees and 22 million customers.
The subject is fully supported by J Sainsbury plc.
On the whole, in view of the background of the subject, consider it good
for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.81 |
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|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.69.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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 |
-- |
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.