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MIRA INFORM REPORT
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Report No. : |
489161 |
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Report Date : |
03.02.2018 |
IDENTIFICATION DETAILS
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Name : |
SAPPHIRE TECHNOLOGY LIMITED |
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Registered Office : |
Room 1910-1919, 19/F., Tower 2, Grand Central Plaza, 138 Shatin Rural
Committee Road, Shatin, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.09.2001 |
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Com. Reg. No.: |
32107424 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Wholesaler and Re-exporter of ATI Video Boards and Mainboards. |
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No. of Employees : |
20 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 reexports, 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 continues to
link its currency closely to the US dollar, maintaining an arrangement
established in 1983.
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 aided a more rapid initial recovery 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 9.4% of
total system deposits in Hong Kong by the end of 2015. 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. Mainland
visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million,
reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong
has also established itself as the premier stock market for Chinese firms
seeking to list abroad. In 2015, mainland Chinese companies constituted about
51% of the firms listed on the Hong Kong Stock Exchange and accounted for about
62.1% 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. 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, which took effect in
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.
Credit expansion and a tight housing supply have caused Hong Kong
property prices to rise rapidly; consumer prices increased 2.6% in 2016, but
slowed to 2.0% in 2017. Lower- and middle-income segments of the population are
increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most
evident in the banking and finance sector. Initiatives like the Hong
Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong
Shanghai Gold Connect are all important steps towards opening up the Mainland’s
capital markets and has reinforced Hong Kong’s leading role as China’s offshore
RMB market. Additional connect schemes from bonds to commodities and other
investment products are also under exploration by Hong Kong authorities.
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Source
: CIA |
Company
name & address
SAPPHIRE TECHNOLOGY LIMITED
ADDRESS: Room 1910-1919, 19/F., Tower 2, Grand
Central Plaza, 138 Shatin Rural Committee Road, Shatin, New Territories, Hong
Kong.
PHONE: 852-2687
8800, 2687 8888
FAX: 852-2690 3356
E-MAIL: hr@sapphiretech.com
stevechoy@sapphiretech.com
MANAGEMENT
Managing Director: Ms. Ng Wing
Yin, Rita
SUMMARY
Incorporated on: 19th September, 2001.
Organization: Private Limited Company.
Issued Share Capital: HK$94,000,000.00
Business Category: Importer, Wholesaler
and Re-exporter.
Employees: 20.
Main Dealing Banker: Hang Seng
Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Name
SAPPHIRE TECHNOLOGY LIMITED
ADDRESS
Registered Head
Office:-
Room 1910-1919, 19/F., Tower 2, Grand Central Plaza, 138 Shatin Rural
Committee Road, Shatin, New Territories, Hong Kong.
Warehouse:-
Kerry Godown (Shatin), 36-42 Shan Mei Street, Fo Tan, Shatin,
New Territories, Hong Kong.
[Tel: 2690 1817; Fax: 2690 4635]
Overseas Offices:-
Canada Office
140
Shields Court Markham, Ontario Canada L3R 9T5.
[Tel: 1-905-513-1228; Fax:
1-905-513-1220]
US Office
280-290
S Paseo Tesoro, Walnut, CA 91789, USA.
[Tel: 909-594-0597; Fax: 909-594-9771]
Europe Office
South Africa Office
etc.
Holding Company:-
Sapphire Global Holdings Ltd., British Virgin Islands.
Associated
Company:-
Grand Vision Technology Ltd., Hong Kong.
BUSINESS
REGISTRATION NUMBER
32107424
COMPANY
FILE NUMBER
0770522
MANAGEMENT
Managing Director: Ms. Ng Wing
Yin, Rita
ISSUED
SHARE CAPITAL
HK$94,000,000.00
SHAREHOLDERS
(As per registry dated 19-09-2017)
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Name |
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No. of shares |
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Sapphire Global Holdings Ltd. P.O. Box 3152, Road Town, Tortola, British Virgin Islands. |
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93,999,999 |
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Champion Bright Ltd., Hong Kong. |
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1 |
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––––––––– |
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Total: |
94,000,000 ======== |
DIRECTORS
(As per registry dated 19-09-2017)
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Name (Nationality) |
Address |
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NG Wing Yin, Rita |
Room A, 11/F., Morengo Court, 25 Tai Hang Road, Hong Kong. |
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Champion Bright Ltd. |
Room 2807, 28/F., Paul Y. Centre, 51 Hung To Road, Kwun Tong, Kowloon,
Hong Kong. |
SECRETARY
(As per registry dated 19-09-2017)
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Name |
Address |
Co. No. |
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H.K.I.C. Corporate Services Ltd. |
Room 2807, 28/F., Paul Y. Centre, 51 Hung To Road, Kwun Tong, Kowloon,
Hong Kong. |
2347439 |
HISTORY
The subject was incorporated on 19th September, 2001 as a private
limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s office was located at Room 405, 4/F., Shatin
Galleria, 18-24 Shan Mei Street, Fo Tan, Shatin, New Territories, Hong Kong,
moved to Room 1912, 19/F. of the same building in November 2001; to
Unit 1908‑1909, 19/F., Tower 2, Grand Central Plaza, 138 Shatin
Rural Committee Road, Shatin, New Territories, Hong Kong in July 2006; and
moved to Unit 1909-1919, 19/F., Tower 2 of the same building with effect
from 28th May, 2009, and further moved to the present address in June 2016.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Wholesaler and Re-exporter.
Lines: ATI
video boards and mainboards.
Employees: 20.
Commodities Imported: Imported from
US, China, etc.
Markets: Asia,
Europe, North America, etc.
Terms/Sales: L/C,
T/T, etc.
Terms/Buying: As per contracted.
FINANCIAL
INFORMATION
Issued Share Capital: HK$94,000,000.00
Mortgage or Charge: (See attachment)
Profit & Loss: Made
profits in the past years.
Condition: Keeping
in an active state.
Facilities: Making
active use of general banking facilities.
Payment: No Complaints.
Commercial Morality: Satisfactory.
Bankers:- Hang
Seng Bank Ltd., Hong Kong.
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
GENERAL
Sapphire Technology Limited is a wholly-owned subsidiary of Sapphire
Global Holdings Ltd. which is a BVI-registered firm.
The subject has increased its issued share capital from HK$7.8 million
to HK$94 million.
The subject’s directors are Ms. Ng Wing Yin, Rita, and Champion Bright
Ltd. The latter is a Hong
Kong-registered firm.
The subject is a leading manufacturer and global supplier of a broad
range of innovative technologies for PC enthusiasts, home users and
professionals. Its origins rooted in
graphics hardware design and manufacturing, the extensive SAPPHIRE product
range has since grown from state-of-the-art graphics add-in boards—for which
SAPPHIRE is recognized as the premiere AMD partner—to include motherboards,
mini PCs, external graphics expanders, and Professional AV products.
SAPPHIRE PGS (Professional Graphics Solutions) is a business unit within
the subject for Professional Solutions.
It provides various types of professional solutions for workstation and
professional clients. SAPPHIRE PGS supports the full range of professional
applications for professional users. For industrial customers, SAPPHIRE PGS
integrates display related graphics application solutions for broadcasting,
digital signage, medical, surveillance, ATC (Air Traffic Control) and other
markets. SAPPHIRE PGS is focused on
providing our customers with highly appropriate solutions and outstanding pre
and after sales consultancy and services.
The subject’s products include the following:
System: 8K/4K Video Playback
Commercial Graphics: GPRO E-Series, GPRO Series, OEM/ODM
Thunderbolt™ 3: Thunderbolt™ 3 Dongle
Accessories: USB-C
Professional Cloud: Hardware, Software
The subject also has the other lines of products:
Sapphire Nitro Gaming Series
Sapphire Pulse Graphics Series
RadeonTM Graphics
Mini PC
Accessories, etc.
In May 2016, the subject extended its product solutions into various
commercial markets such as VDI, Cloud Gaming, External Graphics, VR, and Digital
Signage with 16K/8K/4K Video Playback Systems.
SAPPHIRE PGS solutions offers beyond hardware solutions by delivering
software applications for Digital Signage and VDI.
The business of the subject is chiefly handled by Ms. Ng Wing Yin, Rita.
The annual sales turnover of Sapphire Group is very significant. Business in Hong Kong is active. The history of the subject in Hong Kong is
over 16 years and four months.
On the whole, consider it good for normal business engagements.
MORTGAGE
OR CHARGE
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Date |
Description of
Instrument |
Mortgagee |
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03-09-2004 |
Assignment of Receivables – General |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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22-12-2017 |
Charge Over Securities and Deposits with the Bank (Limited Company) (Unlimited
Amount) |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.07 |
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1 |
INR 91.34 |
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Euro |
1 |
INR 80.03 |
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HKD |
1 |
INR 8.20 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.