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Report Date : |
28.08.2014 |
IDENTIFICATION DETAILS
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Name : |
SUN RISE
INTERNATIONAL |
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Registered Office : |
c/o Room 1001, 10/F., |
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Country : |
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Date of Incorporation : |
15.04.2011 |
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Com. Reg. No.: |
53943344-000-04 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of All Kinds of Diamonds
Including Loose, Polished and Cut Diamonds As Well As Gem Stones |
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No of Employees : |
No Employees in (It is to
be noted that the company does not have its own operating office in |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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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 – June 01, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: 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, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy. 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 12% of total system deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies.
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Source
: CIA |
SUN RISE
INTERNATIONAL
c/o Hong Kong secretarial firm
Room 1001, 10/F., Kwong Fat Commercial Building, 582-588 Canton Road, Yau Ma Tei, Kowloon, Hong Kong.
PHONE: Not available.
FAX: Not available.
Manager: Mr. Sanjeev Lodha
Establishment: 15th April, 2011.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
c/o Hong Kong secretarial firm
Room 1001, 10/F., Kwong Fat Commercial Building, 582-588 Canton Road, Yau Ma Tei, Kowloon, Hong Kong.
Associated
Concern:-
Liberty Traders, Hong Kong. (Same owner)
53943344-000-04
Manager: Mr. Sanjeev Lodha
Name: Mr. Sanjeev LODHA
Residential Address: House
No. 23, Setho Ka Bass, Pali Marwar, Pali, Raj, India.
The subject was established on 15th April, 2011 as a sole proprietorship concern owned by Mr. Sanjeev Lodha under the Hong Kong Business Registration Regulations.
Apart from these, neither material change nor amendment has
been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: all kinds of diamonds including Loose, Polished and Cut Diamonds as well as Gem
Stones
Employees: Nil.
Commodities Imported: India, other Asian countries, etc.
Markets: Hong Kong, Japan, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, Advanced payment, etc.
Capital: Not disclosed.
Profit or Loss: Kept a balance account in 2013.
Condition: Business is improving.
Facilities: Making fairly active use of general banking facilities.
Payment: Slow but Correct
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Sun Rise International was established on 15th April, 2011 as a sole proprietorship owned by Mr. Sanjeev Lodha. Lodha is an India merchant who is an India passport holder and does not have the right to reside in Hong Kong permanently. He is the Manager of the subject.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 1001, 10/F., Kwong Fat Commercial Building, 582-588 Canton Road, Yau Ma Tei, Kowloon, Hong Kong which is handling its correspondences and documents.
We can reach nobody at your given Hong Kong phone number 852‑3154 010 as a digit is missing.
The subject is a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut diamonds and gem stones. Most of the commodities are imported from India. Prime markets are Hong Kong, Japan and the other Asian countries. Business is improving.
The subject is just a one-man concern. Business is chiefly handled by Lodha himself. History in Hong Kong is over three years.
Besides operating the subject, Lodha is operating another firm known as Liberty Traders which is a Hong Kong-registered firm. This firm was established on 1st April, 2011 as a sole proprietorship owned by him.
Liberty Traders also does not have its own operating office. Its registered address is in a private building located at Flat J, 9/F., Star Mansion, 3‑5 Minden Row, Tsimshatsui, Kowloon, Hong Kong. Liberty Traders and the subject are engaged in the same lines of business.
Since the registered office of the subject is in a secretarial firm, has no employees and its history is short in Hong Kong, on the whole, consider it good for normal business engagements on L/C basis for the time being.
NOTE :
It is to be
noted that the company does not have its own operating office in Hong Kong. The
company uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong Kong.
Such companies are registered in Hong Kong just to tax benefit purpose and due
to the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.47 |
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1 |
Rs.100.15 |
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Euro |
1 |
Rs.79.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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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.