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Report Date : |
13.11.2013 |
IDENTIFICATION DETAILS
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Name : |
SUNTAN TECHNOLOGY CO. LTD. |
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Registered Office : |
Unit I, 4/F., |
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Country : |
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Date of Incorporation : |
10.12.1997 |
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Com. Reg. No.: |
21424144 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of capacitors. |
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No. of Employees : |
8. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 |
SUNTAN TECHNOLOGY
CO. LTD.
Unit I, 4/F., Dormind Industrial Building, 13 Yip Fung Street, Fanling,
New Territories, Hong Kong.
PHONE: 852-8202 8782
FAX: 852-8208 6246
E-MAIL: info@capacitors.com.hk
info@suntan.com.hk
enquiry@capacitors.com.hk
Managing Director: Mr. Ng Wing Fung
Incorporated on: 10th
December, 1997.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
8.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
SUNTAN TECHNOLOGY
CO. LTD.
Registered Head
Office:-
Unit I, 4/F., Dormind Industrial Building, 13 Yip Fung Street, Fanling,
New Territories, Hong Kong.
China Factory:-
Dongguan Santan Technology Co. Ltd.
101-103 Jinhe First Road, Changping Town, Dongguan City, Guangdong
Province, China.
[Tel: 86-769-8118 2770]
21424144
0632603
Managing Director: Mr. Ng Wing
Fung
Nominal Share Capital: HK$10,000.00 (Divided into 10 shares of
HK$1,000 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 10-12-2012)
|
Name |
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No. of shares |
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CHAN Wai Hung |
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3 |
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NG Wing Fung |
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7 |
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–– |
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Total: |
10 == |
(As per registry dated 10-12-2012)
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Name (Nationality) |
Address |
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CHAN Wai Hung |
2/F., Block 16, Hoover Garden, Stage 2, 98 Ha Yau Tsuen, Yung Long,
New Territories, Hong Kong. |
|
NG Wing Fung |
Unit I, 4/F., Dormind Industrial Building, 13 Yip Fung Street,
Fanling, New Territories, Hong Kong. |
(As per registry dated 10-12-2012)
|
Name |
Address |
|
SIU Sze Man |
Room 814, 8/F., Ming Kok House, Ming Tak Estate, Tseung Kwan O, Hong Kong. |
The subject was incorporated on 10th December, 1997 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: All
kinds of capacitors.
Brand Name:
Suntan.
Employees: 8.
Commodities Imported: Imports raw
materials from European countries, some of the Asian countries and finished
products from China.
Markets: Africa,
Australasia, Central & South America, Eastern Europe, Hong Kong, Japan,
Korea, Middle East, North America, Scandinavia, Southeast Asia, Taiwan, Western
Europe, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P,
etc.
Nominal Share Capital: HK$10,000.00
(Divided into 10 shares of
HK$1,000 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.
Having issued 10 ordinary shares of HK$1,000.00 each, Suntan Technology
Co. Ltd. is jointly owned by Mr. Chan Wai Hung, holding 30% interests; and NG
Wing Fung, holding 70%.
The subject is trading in the following products:-
Semiconductors (Varistor, OEM), Capacitor (to Russia, Plastic film
capacitor - mylar (polyester)/moralized/polypropylene, OEM), Integrated Circuit
( IC ) (Logic IC, OEM), Quartz Crystal (OEM), Relay (Coto relay, OEM), Switch
For Electronics (include On-Off/Select)(OEM), etc.
According to the subject, it has set up its own production line and a
joint-venture with Korean factories in Shantou Special Economic Zone, Zhaoqing,
Longgang in Guangdong province, and Yantai in Shandong province in mainland
China. The subject is a leading company in the electronic components industry
with over 1,500 workers in these 4 factories in China.
The subject is engaged in manufacturing Dipped & SMD Tantalum
Capacitors, Aluminium Electrolytic Capacitors with Radial type, Axial type, SMD
type, Snap in type, Screw type and LUG type, Radial & SMD Multilayer
Ceramic Capacitors, High Voltage Ceramic Capacitor, Axial & Radial
Moralized Polyester/ Polypropylene Film Capacitor, Safety Standard recognized
capacitor - X2, Y1 & Y2, Ceramic Trimmer Capacitor- 3mm, 5mm, 6mm, 7mm,
Silver Mica Capacitors, Gold Capacitors, Trimming Potentiometers, Dipped &
Chip Varistor and SMD rectifier & Diode, etc.
The subject has become a components supplier for a broad range of
markets worldwide, which range from automotive, consumer, communication,
networks to industrial and medical sectors, etc.
In September 2013, the subject set up a trading partnership with CBS
Europe Srl. CBS, an Italy-based company, which sells various kinds of
electronic components to factories and trading companies. The Italy-based firm is marketing Suntan’s a
wide range of components in Italy.
The subject is concentrating on making and its own brand, most of the
products range are marked with “Suntan®” on product body, and for bridge
rectifier range, it registered a new trade mark “Su®”.
As the history of the subject is about sixteen years in Hong Kong, on
the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.59 |
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|
1 |
Rs.101.56 |
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Euro |
1 |
Rs.85.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.