|
Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUN
PAPER (HONG KONG)
CO. LTD. |
|
|
|
|
Registered Office : |
c/o Hong Kong Secretarial Firm, Room
809, 8/F., Lippo Sun Plaza, 28 Canton Road, Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
26.05.2011 |
|
|
|
|
Com. Reg. No.: |
58424959 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Exporter of all kinds of paper, etc. |
|
|
|
|
No. of Employees : |
Not Available |
RATING
& COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to ove rcome 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
SUN PAPER
(HONG KONG) CO.
LTD.
c/o Hong Kong Secretarial Firm
Room 809, 8/F., Lippo Sun
Plaza, 28 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not
available
Managing Director: Ms. Li Na
Incorporated on: 26th
May, 2011.
Organization: Private
Limited Company.
Capital: Nominal: US$500,000.00
Issued: US$1.00
Business Category: Paper Trader.
Group Turnover: RMB8,762.3
million Yuan (Year ended 31-12-2011)
Employees: Nil.
Main Dealing Banker: Bank of China (Hong Kong) Ltd.,
Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
c/o Hong
Kong Secretarial Firm
Room 809,
8/F., Lippo Sun Plaza, 28 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
Holding Company:-
Shan Dong
Sun Paper Industry Joint Stock Co. Ltd., China.
Associated Companies:-
International
Paper & Sun Cartenboard Co. Ltd., China.
Shandong
International Paper and Sun Coated Paperboard Co. Ltd., China.
Shanghai
Dongsheng New Material Co. Ltd., China.
Yanzhou
Heli Paper Industry Co. Ltd., China.
Yanzhou
Huamao Paper Co. Ltd., China.
Yanzhou Sun
Paper Co. Ltd., China.
Yanzhou
Tianzhang Paper Industry Co. Ltd., China.
Yanzhou
Zhaoyang Paper Co. Ltd., China.
Yanzhou
Zhongtian Paper Industry Co. Ltd., China.
etc.
58424959
1607614
Managing Director: Ms. Li Na
Nominal
Share Capital: US$500,000.00 (Divided
into 500,000 shares of US$1.00 each)
Issued Share
Capital: US$1.00
(As per registry dated 26-05-2012)
|
Name |
|
No. of share |
|
Shan Dong Sun Paper Industry Joint Stock Co. Ltd. No. 66 Xiguan Road,
Yanzhou City, Shandong Province, 272100, China. |
|
1 = |
(As per registry dated 26-05-2012)
|
Name (Nationality) |
Address |
|
LI Na |
Friendship Road, No. 1 Yanzhou City, Shandong Province, China. |
(As per registry dated 26-05-2012)
|
Name |
Address |
Co. No. |
|
Ace Secretaries Ltd. |
12/F., Ruttonjee House,
11 Duddell Street, Central, Hong Kong. |
0966680 |
The subject
was incorporated on 26th May, 2011 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
and Exporter.
Lines: All
kinds of paper, etc.
Employees: Nil.
Commodities
Imported: Canada, Southeast Asia, etc.
Markets: China,
other Asian countries, Europe, North America, etc.
Group
Turnover: RMB5,960.7 million Yuan (Year ended 31-12-2009)
RMB8,037.0 million Yuan (Year
ended 31-12-2010)
RMB8,762.3 million Yuan (Year
ended 31-12-2011)
Terms/Sales: L/C
or as per contracted.
Terms/Buying:
L/C, T/T, D/P, etc.
Nominal
Share Capital: US$500,000.00 (Divided
into 500,000 shares of US$1.00 each)
Issued
Share Capital: US$1.00
Group Profit Attributable to Shareholders:
·
RMB478.8
million Yuan (Year ended 31-12-2009)
·
RMB636.4
million Yuan (Year ended 31-12-2010)
·
RMB499.3
million Yuan (Year ended 31-12-2011)
Profit or
Loss: Too
early to offer an opinion.
Condition: Business
is under development.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as
required.
Commercial
Morality: Satisfactory.
Banker: Bank
of China (Hong Kong) Ltd., Hong Kong.
Standing: Small.
Sun Paper
(Hong Kong) Co. Ltd. is a wholly-owned subsidiary of Shan Dong Sun Paper
Industry Joint Stock Co. Ltd. [Sun Paper/Group] which is a China based
firm. The only director of the subject
Ms. Li Na is a China businesswoman.
Currently, she is residing in Shandong Province, China.
Sun Paper is also a listed firm in
China. Bearing Code No. 002078, its
shares are traded in Shenzhen Stock Exchange, China.
The subject does not have its own
operating office. Its registered office
is in a secretarial firm located at Room 809, 8/F., Lippo Sun Plaza, 28 Canton
Road, Tsimshatsui, Kowloon, Hong Kong which is handling its correspondences and
documents. It has no employees in Hong
Kong. It is engaged in the same lines of
business as Sun Paper.
Sun Paper is one of the advanced
trans-national enterprises of paper making and integrator of forest-pulp-paper,
one of the large private enterprises in China, a large high end coated wrapping
board production base and the leading enterprise of food wrapping paper board.
The Group is engaged in paper
making, chemical industry, foreign trading, power generation, forest-paper
manufacturing, hotel investment, etc.
The total capital of Sun Paper is about RMB18.6 billion Yuan, the annual
production capacity of pulp and paper is 3.5 million tons.
The head office of Sun Paper is
located in Yanzhou, Shandong Province, China.
There are 15 branch companies located in China, Southeast Asia and the
United States. The products of the
company have been sold throughout the world, including China, the United
States, Africa, Southeast Asia, and Hong Kong.
Sun Paper has won the honours of
“National Top Ten Enterprises in Paper Making,” “National Law-Abiding
Enterprises,” “National Excellent Private Enterprises Caring for Staff,”
“Excellent Tax-paying Enterprises of National Association of Industry and
Commerce,” and “The Most Viable Enterprises of China,” among many others.
For the year ended 31st December,
2011, the sales of the Group amounted to RMB8,762.3 million Yuan, grew by 9.0%
as compared with that of RMB8,037.0 million
Yuan in FY 2010; profit after taxation was RMB499.3 million Yuan,
decreased by 21.5% as compared with that of RMB636.4 million Yuan in FY 2010.
The Group has 6,468 employees as at
31st December, 2011.
The subject is fully supported by
the Group. History in Hong Kong is just
over a year and two months.
On the whole, since the history of
the subject is short, consider it good for normal business engagements on
secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.42 |
|
UK Pound |
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.49 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.