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Report No. : |
304718 |
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Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SUNRISE TRADE LINK LTD. |
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Registered Office : |
c/o Gurung &
Shum Business Solutions Ltd. Unit 406B, 4/F, Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
15.07.2010 |
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Com. Reg. No.: |
52682408 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
SUBJECT
IS TRADING IN ALL KINDS OF MOBILE PHONES AND ACCESSORIES. |
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No. of Employee : |
No employees in Hong Kong 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. |
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 : |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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.
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Source
: CIA |
DE LINK LTD.
Registered Office:-
c/o Gurung & Shum Business Solutions Ltd.
Unit 406B, 4/F, Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.
52682408
1480780
15th July, 2010.
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1.00
(As
per registry dated 15-07-2013)
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Name |
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No.
of share |
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Rakesh GOENKA |
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1 = |
(As per registry dated 15-07-2013)
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Name (Nationality) |
Address |
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Rakesh GOENKA |
Asha Purna Sarani, Pradhan Nagar, Siliguri, Darjeeling – 734403, W. B., India. |
(As per registry dated 15-07-2013)
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Name |
Address |
Co. No. |
|
Gurung & Shum Business Solutions Ltd. |
Room 406B, 4/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong. |
1348317 |
Sunrise Trade Link Ltd. was incorporated on 15th July, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at ‘Room 406B, 4/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong’ known as ‘Gurung & Shum Business Solutions Ltd.’ [Gurung & Shum] which is handling its correspondences and documents. This secretarial company is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued just one ordinary share of HK$1.00 which is owned by Mr. Rakesh Goenka 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. His registered address is in India.
Your given phone and fax number 852-3154 9450 and 852-3154 9461 do not belong to the subject. They belong to Gurung & Shum. Many companies are using these two numbers as their contact numbers.
The subject is trading in all kinds of mobile phones and accessories. It is carrying GSM/PCS mobile phones and accessories.
The subject has registered with the Office of the Communications Authority (OFCA), The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of RU00173752- RU (as at 15th January, 2015).
The subject has been banking with Hang Seng Bank Ltd., Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over four years and seven months.
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.76 |
|
|
1 |
Rs.93.13 |
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Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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 |
-- |
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.