MIRA INFORM REPORT

 

 

Report Date :

01.02.2013

 

IDENTIFICATION DETAILS

 

Name :

SUNYPLC  TRADING  DEVELOPMENT  LTD.

 

 

Registered Office :

Flat A, 20/F., Tak Wing Industrial Building, 3 Tsun Wan Road, Tuen Mun, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

22.01.2010

 

 

Com. Reg. No.:

51723211

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of Mitsubishi electric products, rare earth goods, etc.

 

 

No. of Employees :

3

 

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 :

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

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'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 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the 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 28 million in 2011, 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 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% 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. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. 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

Company name and address

 

SUNYPLC  TRADING  DEVELOPMENT  LTD.

 

 

Address:           Flat A, 20/F., Tak Wing Industrial Building,

                        3 Tsun Wan Road, Tuen Mun,

                        New Territories, Hong Kong.

 

 

PHONE:            6948 2311

 

FAX:                 3692 2629

 

 

MANAGEMENT

 

Managing Director:  Mr. Chen Xu, Sam

 

 

SUMMARY

 

Incorporated on:            22nd January, 2010.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:             HK$10,000.00

 

Business Category:       Importer, Exporter and Wholesaler.

 

Employees:                    3.

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Registered Head Office:-

Flat A, 20/F., Tak Wing Industrial Building, 3 Tsun Wan Road, Tuen Mun, New Territories, Hong Kong.

 

Associated Company:-

Shenzhen Sunyplc Trading Development Ltd.

Room B, 429 Huafeng Commerce Building, 25th Area, Bao’an District, Shenzhen Special Economic Zone, China.

[Tel : 86-755-8332 8991    Fax: 86-755-2912 3527]

 

 

BUSINESS REGISTRATION NUMBER

 

51723211

 

 

COMPANY FILE NUMBER

 

1414818

 

 

MANAGEMENT

 

Managing Director:  Mr. Chen Xu, Sam

 

 

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

 

 

SHAREHOLDER

(As per registry dated 22-01-2012)

 

Name

 

No. of shares

CHEN Xu

 

10,000

=====

 

 

 

 

DIRECTOR    

(As per registry dated 22-01-2012)

 

Name

(Nationality)

 

Address

CHEN Xu

Rencai Da Shichang Building, Bao’an Bei Road, Luohu District, Shenzhen SEZ, China.

 

 

SECRETARY

(As per registry dated 22-01-2012)

 

Name

Address

Co. No.

World Business Ltd.

Unit E, 15/F., Cheuk Nang Plaza, 250 Hennessy Road, Wanchai, Hong Kong.

1481303

 

 

HISTORY

 

The subject was incorporated on 22nd January, 2010 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:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of Mitsubishi electric products, rare earth goods, etc.

 

Employees:                  3.

 

Commodities Imported: Japan, etc.

 

Markets:                        China, other Asian countries, Europe, etc.

 

Terms/Sales:                 As per contracted.

 

Terms/Buying:               Various terms.

 

 

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:               Keeping a balance account.

 

Condition:                     Business is under development.

 

Facilities:                      Trying to make use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, Sunyplc Trading Development Ltd. is wholly owned by Mr. Chen Xu who is a China merchant.  He is a China passport holder and does not have the right to reside in Hong Kong permanently.  He is also the only director of the subject.

The subject has had an associated company Shenzhen Sunyplc Trading Development Ltd. [Sunyplc] which is a China-based firm.

Sunyplc was formed in 2003 and previously known as Hinoval Limited.  The subject and Sunyplc are engaged in the same lines of business.

Sunyplc is specialized in importing and exporting Mitsubishi electric products.  It is a professional supplier of Mitsubishi FA products.  It carries the products like: Mitsubishi AC Servo, Programmable Logic Controller (PLC), Inverter, Human Machine Interface (HMI), etc.

Products are marketed in China, Hong Kong, and re-exported to the other Asian countries, Europe, North America, etc.

The subject also provides customers with the following rare earth goods.  Its offer is CIF to the destination and payment terms are usually made on T/T or L/C:

Lanthanum Oxide          La2O3                           99%-99.999%

Cerium Oxide                CeO2                            99%-99.99%

Praseodymium Oxide    Pr6O11                         99.5%-99.9%

Neodymium Oxide         Nd2O3                          99%-99.99%

Samarium Oxide            Sm2O3                         99.9%-99.99%

Europium Oxide                        Eu2O3                          99.99%

Gadolinium Oxide          Gd2O3                          99%-99.999%

Yttrium Oxide                Y2O3                            99.99%-99.999%

Terbium Oxide               Tb4O7                          99.99%

Dysprosium Oxide        Dy2O3                          99%-99.95%

Holmium Oxide             Ho2O3                          99%-99.95%

Erbium Oxide                Er2O3                           99.5%-99.999%

Thulium Oxide               Tm2O3                          99%-99.99%

Lutetium Oxide              Lu2O3                           99%-99.995%

Ytterbium Oxide                        Yb2O3                          99%-99.998%

Scandium Oxide            Sc2O3                          99%-99.99%

Cerous Carbonate         Ce2(CO3)3                    99%-99.9%

Lanthanum Carbonate    La2(CO3)3                     99%-99.9%

Cerous(III) Chloride        CeCl3                           99%-99.9%

Lanthanum(III) Chloride   LaCl3                            99%-99.9%

Cerous(III) Nitrate           Ce(NO3)3.6H2O 99%-99.9%

Lanthanum(III) Nitrate     La(NO3)3·6H2O 99%-99.9%

Ammonium ceric nitrate (NH4)2Ce(NO3)6

 

Lanthanum Metal                                               99%-99.9%

Cerium Metal                                                     99.50%

Praseodymium Metal                                         99.50%

Neodymium Metal                                             99.50%

Samarium Metal                                                99%-99.9%

Europium Metal                                                 99.9%-99.99%

Gadolinium Metal                                              99.90%

Yttrium Metal                                                     99.9%-99.99%

Terbium Metal                                                   99.90%

Dysprosium Metal                                             99%-99.9%

Holmium Metal                                                  99%-99.9%

Erbium Metal                                                     99.9%-99.99%

Thulium Metal                                                    99.95%

Lutetium Metal                                                   99.97%

Ytterbium Metal                                                 99%

Scandium Metal                                                            99.90%

Pr-Nd Metal                                                       99.50%

Dy-Fe Metal                                                      99.90%

La+Ce  metal                

Y2O3                            D50<2UM                     99.99%

GD2O3                         FE2O3 <3PPM              99.995%

LA2O3                          D50<2UM                     99.95%

CE2O3                          D50<1.5UM                   99.90%

 

Coprecipitation of rare earth

(Y,Gd)2O3:Eu                                                   59.5%+33.5%+7%

(Y、Eu)2O3                                                      ≥99.99

(LaCeTb)xOy                

The subject has been one of the significant suppliers in China.  The contact person is Mr. Chen Xu, Sam.  Business is still under development in Hong Kong.

As the history of the subject is over three years in Hong Kong, on the whole, consider it good for normal business engagements on L/C basis or in very small credit amounts.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.29

UK Pound

1

Rs.84.22

Euro

1

Rs.72.23

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.