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Report No. : |
346461 |
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Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SUN (H.K.) ENTERPRISE CO. LTD. |
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Registered Office : |
C/o Sinosia Accounting &
Secretarial Services Ltd., HAG, Unit 5, 27/F., Richmond Commercial Building,
109 Argyle Street, Mongkok, Kowloon, Hong Kong. |
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Country : |
Hongkong |
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Date of Incorporation : |
28.08.2008 |
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Com. Reg. No.: |
39723687 |
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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 : |
No Employees in NOTE: It is to
be noted that the company does not have its own operating office in |
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 : |
No Operating Office in Hongkong |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hongkong |
A1 |
A1 |
|
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 12.5% 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 |
SUN (H.K.) ENTERPRISE CO.
LTD.
Registered Head Office:-
C/o Sinosia Accounting & Secretarial Services Ltd.
HAG, Unit 5, 27/F., Richmond Commercial Building, 109 Argyle Street,
Mongkok, Kowloon, Hong Kong.
[Formerly located at:
C/o TN Lui & Co., Room 1613, 16/F., Tai Yau Building, 181 Johnston
Road, Wanchai, Hong Kong.]
Associated Companies:-
Rinka Corporation, Taiwan.
Dongguan Rinka Machinery & Hardware Co. Ltd., China.
39723687
1268270
28th August, 2008.
HK$10,000.00
(As per registry dated 28-08-2015)
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Name |
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No. of shares |
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TSAI Weipo |
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5,000 |
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Sanjivkumar GUPTA |
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5,000 |
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|
–––––– |
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Total: |
10,000 ===== |
(As per registry dated 28-08-2015)
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Name (Nationality) |
Address |
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Sanjivkumar GUPTA |
Room 1401-1402, Easey Commercial Building, 253-261 Hennessy Road,
Wanchai, Hong Kong. |
|
TSAI Weipo |
Room 1401-1402, Easey Commercial Building, 253-261 Hennessy Road,
Wanchai, Hong Kong |
(As per registry dated 28-08-2015)
|
Name |
Address |
Co. No. |
|
Sinosia Accounting & Secretarial Services Ltd. |
Unit 5, 27/F., Richmond Commercial Building, 109 Argyle Street,
Mongkok, Kowloon, Hong Kong. |
1464868 |
The subject was incorporated on 28th
August, 2008 as a private limited liability company under the Hong Kong
Companies Ordinance.
Formerly
the subject’s registered address was located at Room 1613, 16/F., Tai Yau Building,
181 Johnston Road, Wanchai, Hong Kong where was the operating
office of an accounting company known as TN Lui & Co. It moved to the present address in September
2015 as it has changed its commercial service provider since then.
Apart from these, neither material
change nor amendment has been ever traced and noted.
Sun (H.K.) Enterprise Co., Ltd. was
incorporated on 28th August, 2008 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 “HAG Unit 5, 27/F., Richmond
Commercial Building, 109 Argyle Street, Mongkok, Kowloon, Hong Kong” known as
“Sinosia Accounting & Secretarial Services Ltd.” which is handling its
correspondences and documents. This
secretarial company is also the corporate secretary of the subject. ‘HAG’ is
the file number of the subject in the secretarial company.
The subject has no employees in Hong
Kong.
According to the Companies Registry
of Hong Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each
which are equally-owned by Mr. TSAI Weipo and Mr. Sanjivkumar GUPTA.
The former is a Taiwan passport
holder while the latter is an India passport holder and both do not have the
right to reside in Hong Kong permanently. They are also directors of the
subject. Their registered address “Room
1401‑1402, Easey Commercial Building, 253-261 Hennessy Road, Wanchai,
Hong Kong” is the operating address of another commercial service provider
KCG & Co.
To our knowledge, the subject has
had the following two associated companies:-
·
Rinka Corporation [Rinka], Taiwan
·
Dongguan Rinka Machinery & Hardware Co. Ltd. [Dongguan
Rinka], China.
Rinka is engaged in manufacturing
automatic equipment that is related to electrical machinery (chiefly
motor). The technologies were imported
from Japan.
Dongguan Rinka is manufacturing the
following machinery and equipment:-
·
Motor Automated Manufacturing Equipment
·
Automatic Winding Machine
·
Slot Cell Inserting Machine
·
Coil & Wedge Inserting Machine
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Coil Forming Machine
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Automatic Coil Lacing Machine
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Wire Ripping Machine
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Press Machine
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Coil Open Machine
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BCM Motor Varnish Vat
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Test Machine
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SH Automatic Concentric Oil
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Rotor Slot Break Test Machine
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CH Welding Machine
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Medical Devices
·
Parts
Products are marketed in China, exported to Taiwan, India, Japan, other
Asian countries, Europe, the Middle East, Africa, Australia, North America,
Central and South America, etc.
The contact person of Dongguan Rinka is also TSAI Weipo.
The subject’s business in Hong Kong is not active. History in Hong Kong is over seven years and
a month.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.96 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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|
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.