MIRA INFORM REPORT
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Report No. : |
324989 |
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Report Date : |
05.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SB SOURCING LIMITED |
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Registered Office : |
Unit 10, 5F, Block A, Merit Industrial Center, 94 To Kwa Wan Rd., Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
10.01.2012 |
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Com. Reg. No.: |
59333272 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available (Note: We tried to confirm obtain the details activity but the same is not available from any source.) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Offshore Company |
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Payment Behaviour : |
Unknown |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hongkong |
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 |
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 40.7 million in 2013, 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 48.5% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 56.9% 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. As of year-end 2014, the Democracy protests that began in late
September probably will have some adverse effects on economic growth,
particularly retail sales.
|
Source
: CIA |
Contact
Points
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Company Name: |
SB Sourcing Limited |
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Supplied Name: |
SB Sourcing Ltd. |
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Supplied Address: |
Unit 71, 2nd Floor Mirador Mansion 58 Nathan Road Tsim Sha Tsui |
Credit
Summary
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Credit Opinion: |
Special
Note
We cannot find subject’s any operation
information or valid contact information in Hong Kong through public files
according to supplied name.
We have visited the supplied address, which is
also subject’s registered address, but we did not find the subject on it. There
is another company named Wing Hing Computer Forms Ltd. located on it, and the
relevant staff on the company said did not know the subject.
We tried to contact the subject through the
supplied number +852-2359-9006, and a lady answered the phone said her company
name is Prime Star (HK) Limited which is subject’s company secretary. She said
the supplied telephone number belongs to her company. She declined to disclose
any information of the subject for confidential reasons.
Based on subject’s registered files and our
investigation, we consider subject as an offshore company.
We found subject’s registered files from local
registry, supplying as following for reference.
Company
Identification Details
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Registered Name: |
|
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Registered Address: |
Unit 10, 5F,
Block A, Merit Industrial Center, 94 To Kwa Wan Rd., Kowloon, Hong Kong |
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Date of Registration: |
2012-1-10 |
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Registered Number: |
1697981 |
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Business Registration No.: |
59333272 |
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Paid-up Capital: |
HKD 500,000 (USD 64,500) = 500,000 Shares @
HKD 1 (As of 2015.06, 1 HKD = 0.129 USD) |
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Legal Form: |
Private Limited Liability Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2015-1-10 |
History
Subject was incorporated on 2012-1-10 with the
registered number 1697981 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not register any subsidiaries or branches; from other source
we could not obtain the relevant information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Bawa Sunil |
500,000 |
100% |
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Total |
500,000 |
100% |
Major Shareholder Information:
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Name: |
Bawa Sunil |
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Address: |
H No. C-202, 2nd Floor, Swami Dyanand
Society Plot No. 5, Sec. 6, Dwarka 110075, India |
Management
Information
Core Management
Detailed Information of Directors:
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1 |
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Name: |
Bawa Sunil |
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Address: |
H No. C-202, 2nd Floor, Swami Dyanand
Society Plot No. 5, Sec. 6, Dwarka 110075, India |
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Position: |
Director |
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Passport Number: |
Z2069722 |
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Issuing Country: |
India |
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2 |
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Name: |
Prime Star (HK) Limited |
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Address: |
Unit 71, 2F, Mirador Mansion, 58 Nathan Rd. Tsim
Sha Tsui, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
1262327 |
Operation
Information
Subject does not have business entity in Hong
Kong.
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 does not have business entity in Hong
Kong, thus we cannot obtain the relevant information.
Public
Mortgage Record
No mortgage record of the subject was found.
Lawsuits
Up to now, no present or latent litigation of
the subject has been found.
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High Court Action: |
Clear |
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High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration
Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Attachment
Address: Unit 10, 5F, Block A, Merit Industrial Center, 94 To Kwa Wan
Rd., Kowloon, Hong Kong
Merit Industrial Center, 94 To Kwa Wan Rd., Kowloon, Hong Kong
5F, Block A, Merit Industrial Center, 94 To Kwa Wan Rd., Kowloon, Hong
Kong
Unit 10, 5F, Block A, Merit Industrial Center, 94 To Kwa Wan Rd.,
Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.18 |
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|
1 |
Rs.98.30 |
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Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.