MIRA INFORM REPORT

 

 

Report Date :

29.05.2012

 

IDENTIFICATION DETAILS

 

Name :

SUNARY  INTERNATIONAL  LTD.

 

 

Registered Office :

Room 402, 4/F., Cheung Tat Centre, 18 Cheung Lee Street, Chai Wan

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

10.01.2001

 

 

Com. Reg. No.:

31557272

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Trader of Petrochemical Product, etc.

 

 

No. of Employees :

10

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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)

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 and addres

 

SUNARY  INTERNATIONAL  LTD.

 

 

Company ADDRESS

 

Room 402, 4/F., Cheung Tat Centre, 18 Cheung Lee Street, Chai Wan, Hong Kong.

 

PHONE:                  Not Available

 

 

MANAGEMENT

 

Managing Director:  Mr. Xu Hongwei

 

 

SUMMARY

 

Incorporated on:             10th January, 2001.

 

Organization:                 Private Limited Company.

 

Capital: Nominal:           HK$10,000.00

Issued:                          HK$10,000.00

 

Business Category:        Petrochemical Product Trader.

 

Employees:                   10  (including associates)

 

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

 

Banking Relation:           Satisfactory.

Company name

 

SUNARY  INTERNATIONAL  LTD.

 

 

Company ADDRESS

 

Registered Head Office:-

Room 402, 4/F., Cheung Tat Centre, 18 Cheung Lee Street, Chai Wan, Hong Kong.

 

Associated Companies:-

E-Harbor Logistics (Taicang) Ltd., China.

Mega Capital (Hong Kong) Ltd., Hong Kong.

Mega Capital Group, China.

Qingdao Blossom Well Technology Ltd., China.

Shanghai Mega Capital Industrial Development Co. Ltd., China.

Shenzhen Mega Capital Enterprise Co. Ltd., China.

 

 

BUSINESS REGISTRATION NUMBER 

 

31557272

 

 

COMPANY FILE NUMBER

 

0744146

 

 

MANAGEMENT

 

Managing Director:  Mr. Xu Hongwei

 

 

CAPITAL

 

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

 

Issued Share Capital: HK$10,000.00

 

 

SHAREHOLDERS

 

(As per registry dated 10-01-2012)

Name

 

No. of shares

XU Hongwei

 

9,000

XU Xiaohong

 

1,000

 

 

–––––

 

Total:

10,000

=====

 

 

DIRECTORS

 

(As per registry dated 10-01-2012)

Name

(Nationality)

 

Address

XU Hongwei

Room 402, 4/F., Cheung Tat Centre, 18 Cheung Lee Street, Chai Wan, Hong Kong.

 

REN Qi Shao

Room 402, 4/F., Cheung Tat Centre, 18 Cheung Lee Street, Chai Wan, Hong Kong.

 

 

SECRETARY

    

REN Qi Shao  (As per registry dated 10-01-2012)

 

 

HISTORY

 

The subject was incorporated on 10th January, 2001 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:                      Petrochemical Product Trader.

           

Lines:                           All kinds of petrochemical products, etc.

 

Employees:                   10  (including associates)

 

Commodities Imported:   Europe, Southeast Asia, etc.

 

Markets:                       Hong Kong, China, other Asian countries, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

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$10,000.00

 

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.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, Sunray International Ltd. is equally owned by Mr. Xu Hongwei and Mr. Xu Xiaohong, both are China merchants.

The directors of the subject are Xu Hongwei and Ren Qi Shao.

The subject has had a main associated company in Shenzhen Special Economic Zone, China known as Shenzhen Mega Capital Enterprise Co. Ltd., [SMC].

SMC, founded in 1999, is a comprehensive group company covering international petrochemical trade, investment, industry, logistics and real estate.  After over 10 years of development, it has had the following wholly owned subsidiaries include Mega Capital (Hong Kong) Ltd., Shanghai Mega Capital Industrial Development Co. Ltd. and Qingdao Blossom Well Technology Ltd.

The subject shares the same operating office with Mega Capital (Hong Kong) Ltd. in Hong Kong.  Trading in the same commodities as SMC, the subject and SMC are the agent of the following firms:-

1.       China Petrochemical Corporation of China [Sinopec Group]

2.       China National Petroleum Corporation [CNPC] of China

3.       Kumho Petrochemical Co., Ltd. of Korea

4.       Jiangxi Black Cat Carbon Black Inc., Ltd., China

5.       LG Chemical Ltd., South Korea

Having long-year expertise in chemical industry, efficient and experienced sales teams, committed customer service as well as extensive sales channels, SMC has been well recognised by world-renowned petrochemical and specialty chemical companies in China and abroad.  Apart from the above-mentioned firm, SMC is also the agent of a number of domestic private petrochemical enterprises.

SMC’s business partners and customers are in such industries as tyre, inner tube, shoe soles, golf ball, adhesive, auto rubber parts, PMA (polymer-modified asphalt) for highway pavement, coating, etc.

The subject and SMC are trading in the following commodities:-

Synthetic rubbers, natural rubber, carbon black, silica, rubber chemicals, plastic chemicals, carcass materials, mineral chemicals, coal chemicals, forestry chemicals, specialty chemicals and electronics chemicals, etc.

Currently, SMC is developing specialty chemicals, functional chemicals and other high-tech materials.

SMC’s import and export business extends across mainland China and Hong Kong, Taiwan, South Korea, Japan, Southeast Asia, the Middle East, Africa, Europe and America as well as Russia and some East European countries.

E-Harbor Logistics (Taicang) Ltd., invested and operated by SMC and its partners, is located in Taicang Bonded Logistics Center, and closely adjacent to the burgeoning Taicang Port, which is only about 50 km away from Shanghai and Suzhou.

Currently, E-Harbor Logistics is operating six warehouses, which cover a total area of 75,000 m².  It can provide the bonded warehousing, simple processing and value-added service, international sourcing and distribution, import and export, international transshipment, general warehousing, domestic goods distribution, and integrated logistics services.

The subject is fully supported by SMC.

As the history of the subject is over eleven years and four months in Hong Kong, on the whole, consider it good for normal business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.26

UK Pound

1

Rs.86.80

Euro

1

Rs.69.63

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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 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%)

 

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.