MIRA INFORM REPORT

 

 

Report No. :

325607

Report Date :

08.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SUNSHINE (HK) OVERSEAS LIMITED

 

 

Registered Office :

 Room 402, No. 3 Xiangfeng 1st Road East, Guyi Village, Guzhen Town, Zhongshan, Guangdong Province, 528421 Pr

 

 

Country :

China

 

 

Date of Incorporation :

21.08.2013

 

 

Com. Reg. No.:

1955374

 

 

Legal Form :

Private company limited by shares

 

 

Line of Business :

Not Available

 

Note: We tried to confirm / obtain the detailed activity but the same is not available from any sources.

 

 

No of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined

 

 

Payment Behaviour :

--

 

 

Litigation :

--

 

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

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

China

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

D

 

 

CHINA ECONOMIC OVERVIEW

 

Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, growth of the private sector, development of stock markets and a modern banking system, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. After keeping its currency tightly linked to the US dollar for years, in July 2005 China moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2014 stood as the largest economy in the world, surpassing the US that year... Still, per capita income is below the world average.

The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2014 more than 274 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development.

 

Source : CIA

 

Company name & address

 

SUNSHINE (HK) OVERSEAS LIMITED 

ROOM 402, NO. 3 XIANGFENG 1ST ROAD EAST, GUYI VILLAGE, GUZHEN TOWN, ZHONGSHAN, GUANGDONG PROVINCE, 528421 PR CHINA ()

TEL: N/A     FAX: N/A

 

Narrative report:

 

This refers to a type of report whose format is different from that of a standard report. Such type of report is provided when:

 

l  Information obtained is insufficient for compiling a standard report.

l  The enquired co has been out of business or its business address has been untraceable.

 

It should be noted that the time and manpower spent on preparing such type of report might be greater than those on a standard report. On many occasions, the information in this type of report still indicates the current status of the enquired co. and serves as a useful reference to assess its credit standing.

 

 

Rounded Rectangle: CHECK ON SC’S REGISTERED TELEPHONE LINE 

 

 


Exhausting our efforts, we are unable to find SC’s telephone number in various information sources, including the internet, yellow pages and telecom companies.

 

 

Rounded Rectangle: SPOT VISIT 

 

 


The address client provided is: Room 402, No 3, East Rd, Xiang Feng Yi Lu, Gu Yi Guzhen Town, Zhongshan City Guangdong Province

 

We could not contact SC, so it could not be confirmed whether the company operates from the above address.

 

 

Rounded Rectangle: REGISTRATION 

 

 


Since it is a practice for a company in China to register in Administration of Industry and Commerce (AIC) with a total set of required documents in CHINESE, we are unable to find its in local AIC according to its English name.

We’ll definitely go on with this report if its Chinese company name is available.

 

According to the English name (Sunshine (HK) Overseas Ltd.), we found the following information in Hong Kong Companies Registry:

 

Sunshine (HK) Overseas Limited 

陽光(香港)商貿有限公司

----------------------------------------

CR No.: 1955374

Company Type: Private company limited by shares

Date of Incorporation: 21-Aug.-2013

Active Status: Live

 

 

Rounded Rectangle: BUSINESS OPERATIONS BACKGROUND  

 

 


It is not possible to contact the company directly to obtain further information. The nature and extent of the company's operations could not be determined.

 

 

Rounded Rectangle: REMARKS 

 

 


Despite having exhausted all our effort, we are unable to contact SC, so precise credit estimate cannot be made at present. If further contact details of SC can be provided, we will definitely continue this research.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.89

UK Pound

1

Rs. 97.97

Euro

1

Rs. 71.81

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

DPT

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.