MIRA INFORM REPORT
|
Report No. : |
301160 |
|
Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SANSING LIMITED |
|
|
|
|
Registered Office : |
26th Floor, Wanchai General
Building, 89 Lockhart Road, Wanchai |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
15.02.2008 |
|
|
|
|
Com. Reg. No.: |
38955990 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of non-Ferrous Scrap and Recycled Metals. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONGKONG - 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 |
Contact
Points
|
Company Name: |
Sansing Limited |
|
Supplied Name: |
Sansing Global Trade of Non Ferrous Metal |
|
Trading Address: |
26th Floor, Wanchai General
Building, 89 Lockhart Road, Wanchai, Hong Kong |
|
Supplied Address: |
26/F, Wanchai Central Building 89 Lokhart Road, Wan Chai Hong Kong |
Note: The exact name
and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
26th
Floor, Wanchai General Building, 89 Lockhart Road, Wanchai, Hong Kong |
|
Telephone Number: |
+852-2573-2082 |
|
E-mail: |
|
|
Date of Registration: |
2008-2-15 |
|
Registered Number: |
1211461 |
|
Business Registration No.: |
38955990 |
|
Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2015.01, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 10,000 (USD
1,290) = 10,000 Shares@ HKD 1 |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
69999--Base metals, wrought, nes, and
articles thereof, nes |
|
Principal Activities: |
Trading of non-ferrous scrap and recycled metals, etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-2-15 |
Notes: Subject declined to disclose its staff number; from
other source we cannot obtain the relevant information, either.
History
Subject was incorporated on 2008-2-15 with the
registered number 1211461 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Offices and Warehouses
|
UK Suite 135,
Devonshire Business Centre T: +44
01462 338733 E: unitedkingdom@sansinghk.com Italy Via Kassel, 17 int.
15 50126 Florence Italy T: +39 055 653
3116 Mexico Ave. Tauro No
205 Int. 49 Nueva Linda
Vista Cd. Guadalupe,
Nuevo Leon Mexico C.P.
67129 T: +52 81 1431
01 59 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Walter Reid |
4,100 |
41.00% |
|
2,900 |
29.00% |
|
|
Fishbowl Limited |
1,900 |
19.00% |
|
1,000 |
10.00% |
|
|
Pi Siu Ping |
100 |
1.00% |
|
Total |
10,000 |
100% |
Major Shareholder Information:
|
1 |
|
|
Name: |
Walter Reid |
|
Address: |
41 Ferncroft Avenue, Flat 4, London New 3
7pg, United Kingdom |
|
2 |
|
|
Name: |
Simon Woolf |
|
Address: |
Apartment A& B, 20/F, Block 5, The
Luster, Chiant, Discovery Bay, Lantau Island, Hong Kong |
|
3 |
|
|
Name: |
Fishbowl Limited |
|
Address: |
10 Hazel Close, Shefford, Bedfordshire, SG
17 5YE England |
|
4 |
|
|
Name: |
Shraga Cohen |
|
Address: |
1A Wood Ride, Hadley Wood Barnet, London EN4
Oll United Kingdom |
|
5 |
|
|
Name: |
Pi Siu Ping |
|
Address: |
Flat D, 18/F, Block 1, Park Towers, 1 King’S
Road, North Point, Hong Kong |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Simon Woolf |
|
Address: |
Apartment A& B, 20/F, Block 5, The
Luster, Chiant, Discovery Bay, Lantau Island, Hong Kong |
|
Position: |
Director |
|
ID Number: |
R589287(1) |
|
2 |
|
|
Name: |
Pi Siu Ping |
|
Address: |
Flat D, 18/F, Block 1, Park Towers, 1 King’S
Road, North Point, Hong Kong |
|
Position: |
Director |
|
ID Number: |
R477897(8) |
|
3 |
|
|
Name: |
Cho Ka Fai |
|
Address: |
Flat D, 1/F, Block 4, Green Park Villa,
Fanling N.T. Hong Kong |
|
Position: |
Director |
|
ID Number: |
K686325(6) |
|
4 |
|
|
Name: |
Keyway Management & Secretarial Services
Limited |
|
Address: |
31/F, Chinachem Century Tower, 178
Gloucester Road, Wanchai, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
69796 |
|
Date of Appointment: |
2014-6-25 |
Former Directors:
|
Name: |
Vision Business Limited |
|
Address: |
Room 901, 9/F, Easey Commercial Building,
253-261 Hennessy Road, Wanchai, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
1074303 |
|
Date of Resignation: |
2014-6-25 |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
26th Floor, Wanchai General
Building, 89 Lockhart Road, Wanchai, Hong Kong |
Premises
Information
According to subject’s current
trading address, we did not find any premises information from local land
registry; from other source we can not obtain any relevant information, either.
Production
Information
The subject is a trader of non-ferrous scrap and recycled metals, etc without any
production activities.
Purchase
Information
It is introduced that subject purchases its
products both at home and abroad.
Sales Information
The subject is mainly engaged in sales of
non-ferrous scrap and recycled metals, etc.
Subject’s major products are aluminium,
copper, lead, nickel, zinc and etc.
Subject’s selling territory includes Asia,
Europe, America and etc.
Subject’s major customers are smelting plant
and etc.
It is introduced that subject can provide the
logistic services for its customers.
Settlements
Purchase
Domestic Purchase
|
Products |
Non-ferrous scrap and recycled metals, etc. |
|
Payment Terms |
Cash, T/T and etc |
Import
|
Products |
Non-ferrous scrap and recycled metals, etc. |
|
Payment Terms |
L/C, T/T and etc |
Sales
Domestic Markets
|
Product |
Non-ferrous scrap and recycled metals, etc. |
|
Selling Terms |
Cash, T/T and etc |
Export
|
Product |
Non-ferrous scrap and recycled metals, etc. |
|
Selling Terms |
L/C, T/T and etc |
Financial
Information
The subject has no
obligation to supply its financial statement to the third party according to
the relevant policy in Hong Kong and the only source from which we can obtain
the information is the subject itself.
Subject’s relevant staff rejected to disclose
the financial information, from other sources we could not obtain such
information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
No mortgage record of subject was found.
Lawsuits
Up to now, no present or latent litigation of
the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Name |
Salesman |
Industry
Information
69999--Base metals, wrought, nes, and articles thereof, nes
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Canada |
7 |
111 |
20 |
281 |
|
Switzerland |
4 |
33 |
4 |
33 |
|
The Mainland of China |
145 |
484 |
1,424 |
2,771 |
|
Germany |
86 |
722 |
406 |
2,599 |
|
Japan |
8 |
17 |
2,794 |
10,831 |
|
Exports |
||||
|
The Mainland of China |
764 |
4,675 |
8,823 |
44,470 |
|
Germany |
1 |
9 |
121 |
284 |
|
Taiwan |
119 |
126 |
447 |
438 |
|
USA |
215 |
136 |
692 |
627 |
External Trade
Information:
External
Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
26th Floor, Wanchai General
Building, 89 Lockhart Road, Wanchai, Hong Kong
26th Floor, Wanchai General
Building, 89 Lockhart Road, Wanchai, Hong Kong
26th Floor, Wanchai General
Building, 89 Lockhart Road, Wanchai, Hong Kong
26th Floor, Wanchai General Building,
89 Lockhart Road, Wanchai, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.96.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
<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.