|
Report Date : |
05.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUN ASIA TRADE LTD. |
|
|
|
|
Registered Office : |
C/o MJ Enterprise Ltd. Room 1005, 10/F., Ho King Commercial Centre, 2-16 Fa Yuen Street, Mongkok, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
26.08. 2009 |
|
|
|
|
Com. Reg. No.: |
51094939 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of Furniture, tableware, iron and steel house ware, porcelain products, sanitary ware, bedroom textile products, etc. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating Office in Hong Kong |
|
Payment Behaviour : |
Unknown |
|
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 ASIA
TRADE LTD.
ADDRESS: c/o MJ Enterprise Ltd.
Room 1005, 10/F., Ho King Commercial Centre, 2-16 Fa Yuen Street,
Mongkok, Kowloon, Hong Kong.
PHONE: 2815 0191
FAX: 2544 5670
E-MAIL: procurement01@sunasia.hk
contact@sunasia.hk
Managing Director: Mr. Rodrigo
Anderson Matos
Incorporated on: 26th August, 2009.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$9,900.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o MJ Enterprise Ltd.
Room 1005, 10/F., Ho King Commercial Centre, 2-16 Fa Yuen Street,
Mongkok, Kowloon, Hong Kong.
Associated Company:-
Avendor Holding, Brazil.
51094939
1366781
Managing Director: Mr. Rodrigo
Anderson Matos
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$9,900.00
(As per registry dated 26-08-2012)
|
Name |
|
No. of shares |
|
Helena Maria GONCALVES |
|
4,950 |
|
Rodrigo Anderson MATOS |
|
4,950 |
|
|
|
––––– |
|
|
Total: |
9,900 ==== |
(As per registry dated 26-08-2012)
|
Name (Nationality) |
Address |
|
Alan Rodrigo ECCEL |
Cel Dulcidio, 1179 ap 16, Curitiba/PR-Brazil. |
|
Rodrigo Anderson MATOS |
Rua Pedro V Parigot De Souza, 2664 AP 63B, Curitiba/PR, Brazil. |
(As per registry dated 26-11-2012)
|
Name |
Address |
Co. No. |
|
MJ Enterprise Ltd. |
Room 1005, 10/F., Ho King Commercial Centre, 2-16 Fa Yuen Street,
Mongkok, Kowloon, Hong Kong. |
1075331 |
The subject was incorporated on 26th August, 2009 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the registered address of the subject was located at c/o Hong
Kong Deliga Enterprise Services Ltd., Unit E137, 3/F., Wing Tat Commercial
Building, 97 Bonham Strand East, Sheung Wan, Hong Kong, moved to the present
address with effect from 26th November, 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Furniture,
tableware, iron and steel house ware, porcelain products, sanitary ware,
bedroom textile products, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: Brazil,
etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C, advanced
T/T, CAD, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$9,900.00
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Making
fairly 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:
Small.
Having issued 9,900 ordinary shares of HK$1.00 each, Sun Asia Trade Ltd.
is equally owned by Ms. Helena Maria Goncalves and Mr. Rodrigo Anderson Matos
both of whom are Brazilian. They are a
Brazil passport holders and do not have the right to reside in Hong Kong
permanently. They are also the directors
of the subject. Currently, the two
shareholders are residing in Brazil.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room 1005, 10/F., Ho King Commercial Centre, 2-16 Fa
Yuen Street, Mongkok, Kowloon, Hong Kong” known as “MJ Enterprise Ltd.”
which is handling its correspondences and documents. This firm is also the corporate secretary of
the subject.
The subject has no employees in Hong Kong. It is a buying office and has had an
associated company in Brazil known as Avendor Holding [Avendor].
The subject and Avendor are engaged in the same lines of business, more
or less.
Rodrigo Anderson Matos is also the CEO of Avendor. Graduated from FAE Business School in the
faculty of marketing, Matos has had the command of English speaking.
Avendor is trading in the following commodities:-
Furniture (including indoor or outdoor), tableware, iron and steel house
ware, kitchen ware, porcelain products, cups, china ware, sanitary ware, bed
sheets, curtains, other bedroom textile products, etc.
Avendor also trades in other commodities as long as it has got suppliers.
The subject has set up an office in Xiamen Special Economic Zone which
is responsible for sourcing commodities from the suppliers in China. Prime market is Brazil.
The subject’s business in Hong Kong is not active. History in Hong Kong is over three years.
Since the subject does not have its own operating office and has no
employees in Hong Kong, on the whole, consider it good for business engagements
on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.84 |
|
|
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
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.