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Report Date : |
31.08.2014 |
IDENTIFICATION DETAILS
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Name : |
SHERPA LTD. |
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Registered Office : |
Unit B, 17/F., |
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Country : |
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Date of Incorporation : |
26.03.1997 |
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Com. Reg. No.: |
20794815 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter of all kinds of wooden articles,
products for home and gardening |
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No. of Employees |
06 |
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 – June 1, 2014
|
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 |
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 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
|
Source
: CIA |
NOTE
(Formerly located
at:-
Unit B, 16/F., Wing Hang Insurance Building,
11-17 Wing Kut Street, Sheung Wan, Hong Kong.)
SHERPA LTD.
ADDRESS: Unit B, 17/F., Wing Hang Insurance Building, 11-17 Wing Kut Street, Central, Hong Kong.
PHONE: 852-2504 3613
FAX: 852-2504 5244
E-MAIL: sherpahk@netvigator.com
Managing Director: Mr. Marc Louis Antoine Denicourt
Incorporated on: 26th March, 1997.
Organization: Private Limited Company.
Paid Up Capital: HK$10.00
Business Category: Importer, Exporter, etc.
Employees: 6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit B, 17/F., Wing Hang Insurance Building, 11-17 Wing Kut Street, Central, Hong Kong.
China Office:-
Sherpa Ltd.
12G, Unit B, Lianjianlou Building, Changping Railway Station, Dongguan, Guangdong, China.
[Tel: (86-769) 8220 9800; Fax: (86-769) 8220 9811]
Associated/Affiliated
Companies:-
Abaniko Ltd., Hong Kong. [Dissolved]
Golden State Wooden Box Factory, USA.
Paris Garden Ltd., Hong Kong.
Sherpa (ADAM) Ltd., France.
20794815
0601572
Managing Director: Mr. Marc Louis Antoine Denicourt
Contact Person: Mr. Pinky Chan
PAID UP CAPITAL: HK$10.00
SHAREHOLDERS: (As per registry dated 26-03-2014)
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Name |
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No. of shares |
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PN Nominess Ltd., Hong Kong. |
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6 |
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Marc Louis Antoine DENICOURT |
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4 |
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–– |
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Total: |
10 == |
DIRECTORS: (As per registry dated 26-03-2014)
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Name (Nationality) |
Address |
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Marc Louis Antoine DENICOURT |
A25, Providencia Dock, Discovery Bay Marina Club, Discovery Bay, Lantau Island, Hong Kong. |
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PN Nominess Ltd. |
11/F., Hong Kong Trade Centre, |
SECRETARY: (As per registry dated 26-03-2014)
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Name |
Address |
Co. No. |
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Teamwork Secretarial Co. Ltd. |
11/F., Hong Kong Trade Centre, |
0248117 |
The subject was incorporated on 26th March, 1997 as a private limited liability company under the Hong Kong Companies Ordinance.
It was formerly located at Unit B, 16/F., Wing Hang Insurance Building, 11‑17 Wing Kut Street, Central, Hong Kong. Relocated to the present address in March 2013.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter
Lines: All kinds of wooden articles, products for home and gardening
Employees: 6.
Commodities Imported: China, other Asian countries, etc.
Markets: China, Eastern Europe, North America, Scandinavia, Western Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
Paid Up Capital: HK$10.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 10 ordinary shares of HK$1.00 each, Sherpa Ltd. is jointly owned by PN Nominees Ltd., a Hong Kong-registered company holding 60% interests; and Mr. Marc Louis Antoine Denicourt, holding 40%. Denicourt is also the director of the subject.
The subject is the buying office for the following commodities: Household Products – Glass‚ Household Products – Metal‚ Household Products – Plastic‚ Household Products – Wooden, etc. Most of the commodities are sourced from China, other Asian countries or acquired from local suppliers. Prime markets are Southeast Asia, Eastern Europe, North America, Scandinavia, Western Europe, etc. Overall business is satisfactory.
In 2001, the subject set up a partnership with a French company Wildcat Packaging for the retail of Wine & Spirits boxes. The partnership firm “Abaniko Ltd.” was hence established. However, this company has been dissolved.
In 2002, the subject opened a China branch office in Qingdao and then in Dongguan in order to strengthen control over China productions.
In 2007, shares of the American based wooden box maker “Golden State Wooden Box Factory” were acquired to enable production and sales support within the United States. Wildcat Packaging sold its wooden boxes manufacturing facilities in France in July 2009. Then, the subject therefore decided to split with Wildcat Packaging and to close Abaniko Ltd.
The subject is now directly maintaining business ties with Wildcat Packaging’s facilities in France.
The subject is specialized in luxurious packaging. It has strong technical know-how and it is constantly innovating to offer high added value to the products of its international clientele. It offers a complete service ranging from conceiving tailor-made packaging up to delivering on time and at the right price all around the world. Its China based team constantly enforces best manufacturing processes. It monitors the entire purchase off all spare parts (Lacquers, printing inks, veneers, linings, metal wares, etc.) to ensure perfect quality and environment friendly goods that are passing all latest American & EC standards, including REACH & FSC. In partnership for over ten years with the 1880 established French wooden boxes maker ADAM, it is able to offer storage facilities, state-of-the-art designs, express sample making and technical support in Europe.
The subject’s business is chiefly handled by Denicourt himself who has been in Hong Kong for a very long time.
As the history of the subject in Hong Kong is over seventeen years, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.48 |
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|
1 |
Rs.100.35 |
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Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIS |
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.