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Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SDL
ATLAS LTD. |
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Formerly Known As : |
SAFO Equipment
Services & Consultancy Co. Ltd. |
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Registered Office : |
Flat J, 3/F., Garment Centre, 576 Castle Peak Road, Cheung Sha Wan, Kowloon |
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Country : |
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Date of Incorporation : |
25.11.2002 |
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Com. Reg. No.: |
33198486 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Testing Equipment Trader of all kinds of testing equipment, etc. |
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No. of Employees : |
18 |
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 : |
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 |
SDL ATLAS LTD.
Flat J, 3/F., Garment Centre, 576 Castle Peak Road, Cheung Sha Wan, Kowloon, Hong Kong.
PHONE: 3443 4888
FAX: 3443 4999
Managing Director: Mr. Cheng Fa Lung
Incorporated on: 25th November, 2002.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$2.00
Business Category: Testing Equipment Trader.
Employees: 18.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Flat J, 3/F., Garment Centre, 576 Castle Peak Road, Cheung Sha Wan, Kowloon, Hong Kong.
Holding Company:-
Allium LLC, United States.
Associated
Companies:-
Atlas Material Testing Technology LLC, United States.
SDL Atlas Ltd., UK.
SDL Atlas LLC, United States.
SDL Atlas (Shenzhen) Co. Ltd., China.
33198486
0823105
Managing Director: Mr. Cheng Fa Lung
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$2.00
(As per registry
dated 25-11-2011)
|
Name |
|
No. of shares |
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Allium LLC 4114, North Ravenswood Avenue, Chicago, Illinois 60613, U.S.A. |
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2 = |
(As per registry
dated 30-12-2011)
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Name (Nationality) |
Address |
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CHENG Fa Lung |
Flat C, 28/F., Tower 7B, Oceanaire, Ma On Shan, New Territories, Hong Kong. |
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Charles Stillwell LANE |
2279 Woodlawn Road, Northbrook, Illinois 60062, U.S.A. |
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KANG Chi Kwong |
Room C, 8/F., Block 3, Parkside Villa, 23 Town Park Road South, Yuen Long, New Territories, Hong Kong. |
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Jason Floyd VANCE |
Flat D, 3/F., Block 42, Phase 2, Coastal Rose Garden, Wang Hai Road, Shenzhen SEZ, Shekou, 518057, China. |
(As per registry
dated 25-11-2011)
|
Name |
Address |
Co.
No. |
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RD Secretaries (1990) Ltd. |
Room 5705, 57/F., The Centre, 99 Queen’s Road Central, Hong Kong. |
0293530 |
The subject was incorporated on 25th November, 2002 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of SAFO Equipment Services & Consultancy Co. Ltd., name changed to the present style on 20th December, 2004.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Testing Equipment Trader.
Lines: All kinds of testing equipment, etc.
Employees: 18.
Commodities Imported: Europe, United States, etc.
Markets: Africa, Australasia, Central & South America, China, Eastern Europe, Hong
Kong, Japan, South Korea, India, Middle East, North America, Scandinavia, Southeast Asia, Taiwan, Western Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$2.00
Indebtedness: HK$ 3,000,000.00 (Total amount outstanding on all mortgages and charges as per last
Annual Return dated 25-11-2011)
Mortgage or Charge:
Date of Security over Deposits: 19-05-2006
Amount: Amount secured
Property: A deposit with chargee in the amount of HK$1,300,000.00 under Deposit A/C No. 502-249907
Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
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: Normal.
Having issued 2 ordinary shares of HK$1.00 each, SDL Atlas Ltd. is wholly owned by Allium LLC which is a US-based firm.
The subject is a member of SDL Atlas Group [Group] of companies. However, the headquarters of the Group are in the United Kingdom.
The Group is trading in all kinds of textile testing equipment, laboratory products, consumable items, etc. It is able to offer customers with supporting services which are available from a single source.
The Group’s UK headquarters are its clients’ main sales and service centre for Europe, Africa, and even part of Asia.
The Group’s US-based operations serve its clients in North and South America. Its China office and the subject serve their clients in China, other Asia Pacific regions and Australia. In addition, the Group has agents and distributors to distribute its products in over 100 countries throughout the world.
The Group has had a long and close relationship in the American textile industry including being the first corporate member of AATCC. This relationship lead to the development and manufacture of numerous specialized textile testing instruments including the AATCC Launder‑Ometer, Crockmeter, Accelerotor, Scorch Tester, and Perspiration Tester.
The Group, with its history back to the “Shirley Institute and Shirley Development Laboratories”, has been a leading manufacturer and distributor of a wide range of testing instruments. The well known “SDL catalog” gives its customers at all levels of the textile industry a single source for their testing needs.
The subject and the Group’s China division, previously known as SAFQ, was a division of Intertek. Now, the Group’s China firm is known as SDL Atlas (Shenzhen) Co. Ltd. [SDL Shenzhen]. This firm offers local sales and support throughout China. Now, SDL Shenzhen has set up maintenance centres in Beijing, Shanghai, Chengdu, Shenyang, Changzhou, Qingdao, Ningbo, Nanjing, Guangzhou, etc. SDL Shenzhen is also the China headquarters of the Group.
Besides, textile industry, the Group is also able to provide customers with testing instruments for other purposes such as weathering, strength, and electrical products.
The followings are the Group’s Associations and Partners:-
· ASTM International;
· AATCC;
· Patron Supporter;
· SCHAP;
· Tinius Olsen; &
· edana.
The subject’s business is chiefly handled by Mr. Fred Cheng Fa Lung who is a Hong Kong merchant.
The subject is fully supported by the Group.
As the history of the subject is over nine years in Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.55.86 |
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UK Pound |
1 |
Rs.87.93 |
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Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.