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Report Date : |
16.07.2014 |
IDENTIFICATION DETAILS
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Name : |
SUNYPLC TRADING DEVELOPMENT LTD. |
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Registered Office : |
c/o Conson Business Ltd. Room 2611, 26/F., |
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Country : |
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Date of Incorporation : |
22.01.2010 |
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Com. Reg. No.: |
51723211 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is specialized in importing and exporting Mitsubishi
electric products |
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No. of Employees |
No employees in Hong Kong 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. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 |
SUNYPLC TRADING
DEVELOPMENT LTD.
Registered Head
Office:-
c/o Conson Business Ltd.
Room 2611, 26/F., Office Tower Place, 8 Argyle Street, Mongkok, Kowloon, Hong Kong.
[Tel: 852-2781 3515, Fax: 852-2359 6115
E-mail: sunyplcimpex@gmail.com ]
Associated Company:-
Shenzhen Sunyplc Trading Development Ltd.
Room B, 429 Huafeng Commerce Building, 25th Area, Baoan District, Shenzhen Special Economic Zone, China.
[Tel: 86-755-8332 8991, Fax: 86-755-2912 3527]
Affiliated Company:
Ganzhou Gold La Trade Ltd., China.
51723211
1414818
22nd January, 2010.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDER: (As per registry dated 22-01-2014)
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Name |
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No. of shares |
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CHEN Xu |
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10,000 ===== |
DIRECTOR: (As per registry dated 22-01-2014)
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Name (Nationality) |
Address |
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CHEN Xu |
Rencai Da Shichang Building, Baoan Bei Road, Luohu District, Shenzhen SEZ, China. |
SECRETARY: (As per registry dated 22-01-2014)
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Name |
Address |
Co. No. |
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World Business Ltd. |
Unit E, 15/F., Cheuk Nang Plaza, 250 Hennessy Road, Wanchai, Hong Kong. |
1481303 |
The subject was incorporated on 22nd January, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat A, 20/F., Tak Wing Industrial Building, 3 Tsun Wan Road, Tuen Mun, New Territories, Hong Kong, moved to the present address in August 2013.
Apart from these, neither material change nor amendment has been ever traced and noted.
Having issued 10,000 ordinary shares of HK$1.00 each, Sunyplc Trading Development Ltd. is wholly owned by Mr. Chen Xu who is a China merchant. He is a China passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Room 2611, 26/F., Office Tower Place, 8 Argyle Street, Mongkok, Kowloon, Hong Kong” known as “Conson Business Ltd.” which is handling its correspondences and documents.
The subject has no employees in Hong Kong.
We can reach Chen Xu at your given Hong Kong mobile phone number at 852‑6948 2311. However, this line has been transferred to another line in China.
The fax number 852-2359 6115 belongs to Conson Business Ltd.
The subject has had an associated company Shenzhen Sunyplc Trading Development Ltd. [Shenzhen Sunyplc] which is a China-based firm.
Sunyplc was formed in 2003 and previously known as Hinoval Limited. The subject and Shenzhen Sunyplc are engaged in the same lines of business.
Shenzhen Sunyplc is specialized in importing and exporting Mitsubishi electric products. It is a professional supplier of Mitsubishi FA products. It carries the products like: Mitsubishi AC Servo, Programmable Logic Controller (PLC), Inverter, Servo, Tension Controlle, Human Machine Interface (HMI), etc.
Products are marketed in China, Hong Kong, and re-exported to the other Asian countries, Europe, North America, etc.
The subject has had another affiliated company known as Ganzhou Gold La Trade Ltd., a China-based company. This company provides Shenzhen Sunyplc with the following commodities:
Rare Earth Oxides, Rare Earth Metals, Rare Earth Salts, Rare Earth Magnet, Ferro Alloys, Ferro Silicon, Rare Earth Silicon, Ferro Tungsten, Tungsten Products, etc.
The subject also trades the following rare earth goods. Its offer is CIF to the destination and payment terms are usually made on T/T or L/C:
Lanthanum Oxide La2O3 99%-99.999%
Cerium Oxide CeO2 99%-99.99%
Praseodymium Oxide Pr6O11 99.5%-99.9%
Neodymium Oxide Nd2O3 99%-99.99%
Samarium Oxide Sm2O3 99.9%-99.99%
Europium Oxide Eu2O3 99.99%
Gadolinium Oxide Gd2O3 99%-99.999%
Yttrium Oxide Y2O3 99.99%-99.999%
Terbium Oxide Tb4O7 99.99%
Dysprosium Oxide Dy2O3 99%-99.95%
Holmium Oxide Ho2O3 99%-99.95%
Erbium Oxide Er2O3 99.5%-99.999%
Thulium Oxide Tm2O3 99%-99.99%
Lutetium Oxide Lu2O3 99%-99.995%
Ytterbium Oxide Yb2O3 99%-99.998%
Scandium Oxide Sc2O3 99%-99.99%
Cerous Carbonate Ce2(CO3)3 99%-99.9%
Lanthanum Carbonate La2(CO3)3 99%-99.9%
Cerous(III) Chloride CeCl3 99%-99.9%
Lanthanum(III) Chloride LaCl3 99%-99.9%
Cerous(III) Nitrate Ce(NO3)3.6H2O 99%-99.9%
Lanthanum(III) Nitrate La(NO3)3·6H2O 99%-99.9%
Ammonium ceric nitrate (NH4)2Ce(NO3)6
Lanthanum Metal 99%-99.9%
Cerium Metal 99.50%
Praseodymium Metal 99.50%
Neodymium Metal 99.50%
Samarium Metal 99%-99.9%
Europium Metal 99.9%-99.99%
Gadolinium Metal 99.90%
Yttrium Metal 99.9%-99.99%
Terbium Metal 99.90%
Dysprosium Metal 99%-99.9%
Holmium Metal 99%-99.9%
Erbium Metal 99.9%-99.99%
Thulium Metal 99.95%
Lutetium Metal 99.97%
Ytterbium Metal 99%
Scandium Metal 99.90%
Pr-Nd Metal 99.50%
Dy-Fe Metal 99.90%
La+Ce metal
Y2O3 D50<2UM 99.99%
GD2O3 FE2O3 <3PPM 99.995%
LA2O3 D50<2UM 99.95%
CE2O3 D50<1.5UM 99.90%
Coprecipitation of rare earth
(Y,Gd)2O3:Eu 59.5%+33.5%+7%
(Y、Eu)2O3 ≥99.99
(LaCeTb)xOy
The subject has been one of the significant rare earth suppliers in China. The contact person is Mr. Chen Xu, Sam.
The subject’s business is not active in Hong Kong. History is over four years.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.
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.60.22 |
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1 |
Rs.102.79 |
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Euro |
1 |
Rs.81.95 |
INFORMATION DETAILS
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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.