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Report No. : |
352347 |
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Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
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Name : |
LARGE SUN TRADING CO. |
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Registered Office : |
Unit 8B, 7/F., Well
Fung Industrial Centre, 68 Ta Chuen Ping Street, Kwai Chung, New
Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.11.1997 |
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Com. Reg. No.: |
21374618-000-11 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Manufacturer, Importer and Exporter of All Kinds of
Jewellery Products, Silver Products |
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No. of Employee : |
5. (Hong
Kong) 250. (China) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
LARGE SUN
TRADING CO.
ADDRESS: Unit
8B, 7/F., Well Fung Industrial Centre, 68 Ta Chuen Ping Street,
Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2344 2299
FAX: 852-2344
2099
MANAGEMENT:
Manager: Ms. Chao Min
Fen, Nancy
Establishment: 18th November, 1997.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Manufacturer,
Importer and Exporter.
Annual Turnover: HK$50~55 million.
Employees: 5. (Hong Kong)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Unit 8B, 7/F., Well Fung Industrial Centre, 68 Ta Chuen
Ping Street, Kwai Chung, New Territories, Hong Kong.
Associated Factory:-
Large Sun Jewelry Mfy. Co. Ltd.
Qiwan Industrial Area, Qiwan Road, Dong Qu, 528400
Zhongshan City, Guangdong Province, China.
[Tel: 86-760-8888
2444 (8 lines)
Fax: 86-760-8888
2448, 8888 2449
E-mail: largesun@largesun.com.cn]
21374618-000-11
Manager: Ms. Chao
Min Fen, Nancy
Contact Person:
Ms. Yang
Name: Ms. CHAO Min
Fen, Nancy
Residential Address: 2F,
No. 7, Lane 50, Section 3, Sau Long Road, Chung Wo Shi, Taipei, Taiwan.
The subject was established on 18th November, 1997 as a
sole proprietorship concern owned by Ms. Chao
Min Fen under the Hong Kong Business Registration Regulations.
Initially the subject was located at Room 1302, 13/F., Ginza
Plaza, 2A Sai Yeung Choi Street South, Mongkok, Kowloon, Hong Kong, moved to
Flat A, 6/F., Joint Venture Factory Building, 76 Hung To Road, Kwun Tong,
Kowloon, Hong Kong in May 2002, and further moved to the present address in
September 2014.
Apart from these, neither material change nor amendment
has been ever traced and noted.
Activities: Manufacturer,
Importer and Exporter.
Lines: All
kinds of jewellery products, silver products
Employees: 5. (Hong Kong)
250. (China)
Materials/Commodities: India,
Thailand, Europe
Markets: North
America, Europe, Taiwan, Southeast Asia
Annual Turnover: HK$50~55
million.
Terms/Sales: L/C, T/T
Terms/Buying: L/C, T/T, D/P, O/A
Capital: Not
disclosed.
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
condition.
Facilities: Making rather active use of
general banking facilities.
Payment: No complaints
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Large Sun Trading Co. is a sole
proprietorship set up and owned by Ms. Nancy Chao Min Fen who is a Taiwan
businesswoman.
The subject moved to the present address in September
2014.
The subject is a diamond, silver and
jewellery product trader and manufacturer.
The followings are its main products: 925 sterling silver pendants,
bracelets, necklaces, earrings, pearl bracelets, products with Swarovski
crystal.
Its factory known as Large Sun Jewelry Mfy.
Co. Ltd. [Large Sun] is in Zhongshan City, Guangdong Province, China.
Large Sun was well established in Taiwan in
1989 and moved to Zhongshan City of Guangdong in 1992. The contact person of the factory is Ms.
Cathy Wu.
Employing about 250 workers, Large Sun
occupies over 7,000 sq.m. In 2005, Large
Sun got the ISO 9001 certification.
Raw materials are imported from India,
Thailand, Europe. Prime markets are
North America, Europe, Taiwan, Southeast Asia.
Business is normal.
The annual sales turnover of the subject
ranges from HK$50 to 55 million. Making
a small profit every year.
The subject’s business is chiefly handled by
Ms. Nancy Chao Min Fen herself.
Sometimes, she is stationing at the China factory. However, most of the time she is in Hong
Kong.
The contact person of the subject in Hong
Kong is a Ms. Yang.
The history of the subject in Hong Kong is
over 18 years.
On the whole, consider it good for normal
business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
|
HKD |
1 |
Rs.8.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
-- |
NB |
New Business |
-- |
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.