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Report No. : |
351689 |
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Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SYROTECH NETWORKS LTD. |
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Registered Office : |
Unit 5, 20/F., Kin Wing Industrial Building, 33 Kin Wing Street, Tuen Mun, New Territories |
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Country : |
Hong Kong
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Date of Incorporation : |
08.10.2013 |
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Com. Reg. No.: |
62148379 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of Optical Transceivers. |
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No. of Employees : |
6 |
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 : |
Moderate |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 12.5% of total system deposits in Hong
Kong by the end of 2014. 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 47.3 million
in 2014, 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 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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
4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from March 2015, cover
a negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Your No. 1, Queen’s Road Central, Central, Hong Kong is the
headquarters of The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
SYROTECH NETWORKS
LTD.
ADDRESS: Unit 5, 20/F., Kin Wing Industrial
Building, 33 Kin Wing Street, Tuen Mun, New Territories, Hong Kong.
PHONE: 852-3529 1150
FAX: 852-3544 2431
E-MAIL: info@syrotech.com
MANAGEMENT:
Managing Director: Mr. Nitin
Kumar Gupta
Incorporated on: 8th October, 2013.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 6.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
SYROTECH NETWORKS
LTD.
Registered Head
Office:-
Unit 5, 20/F., Kin Wing Industrial Building, 33 Kin Wing Street,
Tuen Mun, New Territories, Hong Kong.
Associated
Company:-
Grow More Distribution Ltd., Hong Kong.
(Same address)
62148379
1977810
Managing Director: Mr. Nitin
Kumar Gupta
HK$10,000.00
(As per registry dated 08-10-2015)
|
Name |
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No. of shares |
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Nitin Kumar GUPTA |
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10,000 ===== |
(As per registry dated 08-10-2015)
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Name (Nationality) |
Address |
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Nitin Kumar GUPTA |
B-56 Gupta Bhawan, South Ganesh Nagar, Delhi-92, India. |
(As per registry dated 08-10-2015)
|
Name |
Address |
Co. No. |
|
Smart Genius Ltd. |
Room 1305A, 13/F., Sino Centre, 582-592 Nathan Road, Mongkok, Kowloon,
Hong Kong. |
0719497 |
The subject was incorporated on 8th October, 2013 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject is located at Room 3A, 6/F., Hing Wah Centre, 82-84
Tokwawan Road, To Kwa Wan, Kowloon, Hong Kong, moved to the present address in
September 2015.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of optical transceivers.
Employees: 6.
Commodities Imported: China, other
Asian countries.
Markets: India,
other Asian countries, the Middle East, Africe.
Terms/Sales: As per contracted.
Terms/Buying: COD or as per contracted.
Issued Share Capital: HK$10,000.00
Profit or Loss: Kept
a balance account in 2014.
Condition: Business
is improving.
Facilities: Adequate
for current running.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Syrotech Networks Ltd.
is wholly owned by Mr. Nitin Kumar Gupta who is an India merchant.
He is an India 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 has been a global manufacturer of compatible optical
transceivers. It manufactures and
supplies full range of transceivers like SFP Plus (SFP+), X2, XENPAK, XFP, SFP,
QSFP and GBIC.
All its optical transceivers are 100% compatible with major brands like
Cisco, HP, Nortel, D-link, 3Com, Intel, Dell, etc., and backed by a ‘lifetime
advanced replacement warranty’.
The subject’s optical transceivers are factory loaded with OEM specific
configuration data required for networking compliance. These transceivers initialize and perform
identically to the OEM transceivers and can be mixed and deployed with other
OEM and third party transceivers for seamless network performance.
Now, the subject has become a significant DAC twinax cables maker and
one of the earliest suppliers for 40G, QSFP+ products including 10G, 40G &
56G QSFP+ copper and AOC cables and optical modules.
The subject is able to supply optical transceivers according to the
requirements and design optical transceiver label of its customers. The subject has helped many clients complete
important project and established long-term business relations.
The subject has got ISO 14001:2004, 9001:2008 certifications.
According to the subject, it has got over 1,000 regular products in
stock. Shipments are delivered by
international couriers like DHL, FedEx and UPS.
The subject’s business is chiefly handled by Mr. Nitin Kumar Gupta. History in Hong Kong is just over two years
and a months.
On the whole, since the history of the subject is short in Hong Kong,
consider it good for normal credit requirements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.62 |
|
|
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.67 |
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HKD |
1 |
Rs.8.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.