|
Report Date : |
14.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANGAR ELECTRONICS
(HK) LTD. |
|
|
|
|
Registered Office : |
Room 502, 5/F., Wellborne Commercial Centre, 8 Java Road,
North Point |
|
|
|
|
Country : |
Hong Kong. |
|
|
|
|
Date of Incorporation : |
08.07.2006 |
|
|
|
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Com. Reg. No.: |
36941276 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF HEATER, DVD PLAYER, MP3 PLAYER, HOME THEATRE, TV MONITOR,
LCD, PORTABLE DVD |
|
|
|
|
No. of Employees : |
4. |
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,
2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong levies excise duties on only four commodities, namely: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 9.1% of total system deposits in Hong Kong by the end of 2012, an increase of 59% from the previous year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 34.9 million in 2012, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2012 mainland Chinese companies constituted about 46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011, and less than 2% in 2012. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in 2012. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
|
Source : CIA |
SANGAR ELECTRONICS
(HK) LTD.
ADDRESS: Room 502, 5/F., Wellborne Commercial
Centre, 8 Java Road, North Point, Hong Kong.
PHONE: 852-3694 0692
FAX: 852-3529 2399
E-MAIL: ricky@sangarelec.com
sales@uni-tooling.com
Managing
Director. Mr. Chamkaur Singh Sangar
Incorporated
on: 8th
July, 2006.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category:
Importer, Exporter and Wholesaler.
Employees: 4.
Main Dealing
Banker: HBZ Finance Ltd.,
Hong Kong.
Banking Relation: Satisfactory.
Registered
Head Office:-
Room 502, 5/F.,
Wellborne Commercial Centre, 8 Java Road, North Point, Hong Kong.
36941276
1057884
Managing Director. Mr. Chamkaur Singh Sangar
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
(As
per registry dated 08-07-2013)
|
Name |
|
No.
of shares |
|
Chamkaur Singh SANGAR |
|
10,000 ===== |
(As
per registry dated 08-07-2013)
|
Name (Nationality) |
Address |
|
Chamkaur Singh
SANGAR |
Flat D, 5/F., Block 2, Aidrich Garden,
Shaukeiwan, Hong Kong. |
(As
per registry dated 08-07-2013)
|
Name |
Address |
Co.
No. |
|
High
Sky Ltd. |
Unit B, 11/F., Winbase Centre, 208 Queen’s Road Central, Hong Kong. |
0426584 |
The
subject was incorporated on 8th July, 2006 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: Heater, DVD Player, MP3 Player, Home Theatre,
TV Monitor, LCD, Portable DVD.
Employees:
4.
Commodities
Imported: China, etc.
Markets: Europe, Middle East, Africa, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C or as per contracted.
Nominal Share
Capital: HK$10,000.00 (Divided into
10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
Mortgage or
Charge: (See attachment)
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: HBZ Finance Ltd., Hong Kong.
Standing: Small.
Having
issued 10,000 ordinary shares of HK$1.00 each, Sangar Electronics (HK) Ltd. is
wholly owned by Mr. Chamkaur Singh Sangar, Ricky who is an India merchant. He is a Hong Kong ID Card holder and has got
the right to reside in Hong Kong permanently.
He is also the only director of the subject.
The
subject has had an office in Shenzhen Special Economic Zone, China. It is trading in household appliances and
audio/video electronics. The subject is
trading in the following commodities:-
Heater,
DVD Player, MP3 Player, Home Theatre, TV Monitor, CRT LCD, Portable DVD, other
electronic products, etc.
The
prime markets of the subject are Europe, the Middle East, Africa, and
Asia. Business is normal.
The
subject’s business is chiefly handled by Chamkaur Singh Sangar, Ricky
himself. He can be reached at his mobile
phone number in Hong Kong at 852-9342 1264.
The
subject also receives OEM orders. The
subject has had a number of affiliated manufacturing factories in Shenzhen
Special Economic Zone, China. Its
Shenzhen company commenced business in 2003.
As
the history of the subject is over seven years in Hong Kong, on the whole,
consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
26-06-2007 |
Instrument: Lien
& Set-Off Agreement Property: Fixed Deposit as
per enclosed schedule in the Name of Sangar Electronics (HK) Ltd. Mortgagee: HBZ
Finance Ltd., Hong Kong. |
For secure (general credit facilities) allowed to Sangar Electronics
(HK) Ltd. from time to time by HBZ Finance Ltd. |
|
20-09-2012 |
Instrument: Lien
& Set-Off Agreement Property: Fixed deposits of the company set out
below & extensons or renewals Deposit No.: 405 Amount:
US$37,342.81 Maturity Date:
28th November, 2012. Mortgagee: HBZ
Finance Ltd., Hong Kong. |
For secure (general credit facilities) allowed to Sangar Electories
(HK) Ltd. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.61.43 |
|
UK Pound |
1 |
Rs.95.07 |
|
Euro |
1 |
Rs.81.77 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.