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Report No. : |
346531 |
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Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SUN SHINE INTERNATIONAL PVT LTD. |
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Registered Office : |
6A, Chuang Hing Commercial Building, 62-63 Connaught Road, Central |
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Country : |
Hongkong |
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Date of Incorporation : |
28.05.2012 |
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Com. Reg. No.: |
59871599 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer,
Exporter and Wholesaler of Raw Materials, Chemicals, Food Additives. |
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No. of Employees : |
3. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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 SHINE
INTERNATIONAL PVT LTD.
ADDRESS: 6A,
Chuang Hing Commercial Building, 62-63 Connaught Road, Central,
Hong Kong.
PHONE: 852-2461
2221
FAX: 852-2485
2221
E-MAIL: documentation@ssint.com.hk
Managing Director:
Mr. Manish Indrajeet
Hingoraney
Incorporated on: 28th May, 2012.
Organization: Private Limited Company.
Issued Share Capital: HK$150.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 3.
Main Dealing Banker: HBZ
Finance Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
6A, Chuang Hing Commercial Building, 62-63 Connaught
Road, Central, Hong Kong.
59871599
1751580
Managing Director:
Mr. Manish Indrajeet
Hingoraney
HK$150.00
(As per registry dated 28-05-2015)
|
Name |
|
No. of shares |
|
Gaurav GUPTA |
|
50 |
|
Anu GUPTA |
|
50 |
|
Manish Indrajeet HINGORANEY |
|
50 |
|
|
|
––– |
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Total: |
150 === |
(As per registry dated 28-05-2015)
|
Name (Nationality) |
Address |
|
Manish Indrajeet HINGORANEY |
48/2 Prag Narani Road, Lucknow U.P. India. |
(As per registry dated 28-05-2015)
|
Name |
Address |
Co. No. |
|
Akin Professionals Ltd. |
20/F., Champion Building, 287-291 Des Voeux Road
Central, Sheung Wan, Hong Kong. |
1273165 |
The subject was
incorporated on 28th May, 2012 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: Raw
materials, chemicals, food additives.
Employees: 3.
Commodities Imported: China,
Southeast Asia, other Asian countries, Europe, etc.
Markets: Hong Kong, other Asian
countries, Middle East, etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C,
T/T or as per contracted.
Issued Share Capital: HK$150.00
Mortgage or charges:
(See attachment)
Profit or Loss: Made
a very small profit in 2014.
Condition: Business
keeps on improving.
Facilities: Making
active use of general banking facilities.
Payment: So far so good.
Commercial Morality:
Good.
Banker: HBZ Finance Ltd.,
Hong Kong.
Standing: Small.
Having issued 150
ordinary shares of HK$1.00 each, Sun Shine International Pvt Ltd. is jointly
and equally owned by Mr. Gaurav Gupta, Mr. Anu Gupta and Mr. Manish Indrajeet
Hingoraney, all of whom are India merchants.
The two Guptas are in Delhi, India.
Mr. Manish Indrajeet Hingoraney
is also the only director of the subject.
He is an India passport holder.
Incorporated in May
2012, the subject can be reached at your given Hong Kong phone number
852-2461 2221.
The subject is
trading in raw materials, chemicals for foodstuffs, food additivities,
chemicals and raw materials for daily products, etc. Commodities are sourced from China, other
Asian countries, etc. and exported to worldwide countries. Business keeps on improving.
The subject has been
banking with HBZ Finance Ltd., Hong Kong.
It has had mortgage with the bank and is acquiring banking facilities
from the bank.
As the history of the
subject is just over three years and five months in Hong Kong, on the
whole, consider it good for normal credit requirements in small credit amounts
for the time being.
|
Date |
Description
of Instrument |
Mortgagee |
|
21-06-2013 |
Lien & Set-Off Agreement
(Fixed Deposits) |
HBZ Finance Ltd., Hong Kong. |
|
26-07-2013 |
Lien & Set-Off Agreement
(Fixed Deposits) |
HBZ Finance Ltd., Hong Kong. |
|
31-03-2014 |
Mortgage |
HBZ Finance Ltd., Hong Kong. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
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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 |
|
|
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.