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Report No. : |
328925 |
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Report Date : |
03.07.2015 |
IDENTIFICATION DETAILS
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Name : |
SNJ LTD. |
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Registered Office : |
Flat A, 8/F., Wah Fung Building, 17-23 Minden Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
08.05.2009 |
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Com. Reg. No.: |
50670574 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Watches. |
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No. of Employees : |
01 |
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 : |
Small Company |
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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 |
|
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 |
SNJ LTD.
ADDRESS: Flat A, 8/F., Wah
Fung Building, 17-23 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available.
MANAGEMENT:
Managing Director: Mr. Rameez
Sattar
Incorporated on: 8th May, 2009.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employee: 1.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
SNJ LTD.
Registered Head
Office:-
Flat A, 8/F., Wah Fung Building, 17-23 Minden Avenue, Tsimshatsui,
Kowloon, Hong Kong.
Associated
company:-
Sonraj Pakistan Pvt. Ltd., Pakistan.
50670574
1336977
Managing Director: Mr. Rameez
Sattar
HK$10,000.00
(As per registry dated 08-05-2015)
|
Name |
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No. of shares |
|
Rameez SATTAR |
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10,000 ====== |
(As per registry dated 08-05-2015)
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Name (Nationality) |
Address |
|
Rameez SATTAR |
House No. 50, B-8, Lane 25, Street Kh-E-Mujahid, Ph‑Vi, Dha,
Karachi, Pakistan. |
(As per registry dated 08-05-2015)
|
Name |
Address |
Co. No. |
|
Multi-Chain Ltd. |
Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong
Kong. |
0209214 |
The subject was incorporated on 8th May, 2009 as a private limited liability
company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Watches.
Employee: 1.
Commodities Imported: Switzerland,
other European countries.
Markets: Pakistan,
India, other Asian countries.
Terms/Sales: As per contracted.
Terms/Buying: As per contracted.
Issued Share Capital: HK$10,000.00
Profit or Loss: Made
very small profit in past two years.
Condition: Business
is fairly active in Hong Kong.
Facilities: Adequate
for current running.
Payment: Met as required.
Commercial Morality:
Satisfactory.
Banker: The Hong Kong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, SNJ Ltd. is wholly
owned by Mr. Rameez Sattar who is a Pakistan merchant.
He is a Pakistan 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 Karachi, Pakistan.
The subject’s registered address is in a private building located at
Flat A, 8/F., Wah Fung Building, 17-23 Minden Avenue, Tsimshatsui, Kowloon,
Hong Kong. This is supposed to be
residence of Mr. Rameez Sattar when he is in Hong Kong.
The residential building is not trespassed by outsiders. The subject sometimes has a representative in
Hong Kong.
The subject has had an associated company Sonraj Pakistan Pvt. Ltd.
[Sonraj] which is a luxury watch trader.
In Pakistan, Sonraj is operating two retailing chains, namely, Collectibles and Am : Pm by Collectibles.
These two retailing chains are also owned by Rameez Sattar.
Sonraj was founded in 1976 with the launch of SWISS WATCHES in
Pakistan. It has long term association
with the horology world since the last 30 years.
Today, Sonraj is associated with Vacheron Constantin, Montegrappa, Audemars Piguet, A. Lange & Sohne,
Hublot, Zenith, Jaeger-LeCoultre, Girard Perregaux, Breguet, IWC, Ulysse
Nardin, Hamilton, Louis Erard, Graham, Arnold & Son, Philip Stein, Harry
Winston, Bovet.
The subject’s business is fairly active in Hong Kong. History in Hong Kong is over six years.
Since the registered office of the subject is in a residential building,
consider it good for normal credit requirements on L/C basis or in very small
credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.