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MIRA INFORM REPORT
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Report No. : |
491722 |
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Report Date : |
20.02.2018 |
IDENTIFICATION DETAILS
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Name : |
SANPA IMP. EXP. LIMITED |
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Registered Office : |
C/o International Business Brokerage Advisory Ltd. Room 602, 6/F., 168 Queen’s Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.09.2014 |
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Com. Reg. No.: |
63845237 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is Trading in Video Games, Electronic Products, and Consumer
Electronics (Miscellaneous). |
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No. of Employees : |
No Employees in Hong Kong 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. |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
No Operating Office in Hong Kong |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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. In
2017, Chief Executive Lam announced plans to increase government spending on
research and development, education, and technological innovation with the aim
of spurring continued economic growth through greater sector diversification.
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Source
: CIA |
Note
We are not sure whether the subject is also located at your given
address “Suite 2302, 23/F., Pacific Plaza, 410 Des Voeux Road West, Sai Ying
Pun, Hong Kong’.
As this office is occupied by a Hong Kong registered company known as
All Asia Exports Ltd. This company is a
commercial service provider.
Company
name
SANPA IMP. EXP.
LIMITED
ADDRESS
Registered
Office:-
C/o International Business Brokerage Advisory Ltd.
Room 602, 6/F., 168 Queen’s Road Central, Hong Kong.
Associated
Company:-
Ferro (HK) Co., Hong Kong.
[Tel.: 852-9190 5414
Fax: 852-2423 6173
E-mail: burkay@netvigator.com]
BUSINESS
REGISTRATION NUMBER
63845237
COMPANY
FILE NUMBER
2146747
DATE
OF INCORPORATION
19th September, 2014.
ISSUED
SHARE CAPITAL
US$10,000.00
SHAREHOLDER
(As per registry dated 19-09-2017)
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Name |
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No. of shares |
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BURKAY Pui Yu, Carol |
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10,000 ===== |
DIRECTORS
(As per registry dated 09-10-2017)
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Name (Nationality) |
Address |
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BURKAY Pui Yu, Carol |
GH30B, Forest Hill, 31 Lo Fai Road, Tai Po, New Territories, Hong
Kong. |
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Mehmet BURKAY |
GH30B, Forest Hill, 31 Lo Fai Road, Tai Po, New Territories, Hong
Kong |
SECRETARY
(As per registry dated 19-09-2017)
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Name |
Address |
Co. No. |
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International Business Brokerage Advisory Ltd. |
Room 602, 6/F., 168 Queen’s Road Central, Hong Kong. |
0897991 |
GENERAL
Sanpa Imp. Exp. Limited was incorporated on 19th September, 2014 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 ‘Room 602, 6/F., 168 Queen’s Road Central, Hong Kong’
known as ‘International Business Brokerage Advisory Ltd.’ [IBBA] which is
handling its correspondences and documents.
IBBA is also the corporate secretary of the subject.
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 US$1.00 each which are wholly-owned by
Ms. Burkay Pui Yu, Carol who is a Hong Kong businesswoman.
The directors of the subject are Mr. Mehmet Burkay and Ms. Burkay
Pui Yu, Carol. They are a couple. Their registered addresses are located at
‘Forest Hill, 31 Lo Fai Road, Tai Po, New Territories, Hong Kong’. Forest Hill is a luxury building in Hong
Kong.
Your given Hong Kong mobile phone number 852-9190 5414 belongs to
Mr. Mehmet Burkay. However, we
cannot reach him during the course of our investigation.
To our knowledge, Mehmet Burkay is operating another company known as
Ferro (HK) Co. Its fax number is
852-2423 6173.
Ferro (HK) Co. is trading in Video Games, Electronic Products, and
Consumer Electronics (miscellaneous).
The subject’s lines of business are unknown since the secretarial
company declined to report us about its business. However, it is likely that it is trading in
the same products of Ferro (HK) Co.
The director of the subject cannot be reached although she is in Hong
Kong. We have found a Ms. Burkay Pui Yu
Carol who is the Supervisor of a US language learning centre in Hong Kong.
If the subject is also located at your given address ‘Suite 2302, 23/F.,
Pacific Plaza, 410 Des Voeux Road West, Sai Ying Pun, Hong Kong’ which is
housed by a Hong Kong registered company known as All Asia Exports Ltd.
[AAE]. AAE is trading in the following
commodities:
Furniture - Western Style, Furniture - Outdoor, Furniture - Office,
Computer Furniture, Decoration (Excluding Tile) - Ceramic, Giftware, Souvenirs
& Premiums, Bathroom Fittings & Sanitary Wares (Bathroom fixtures for
Jacuzzis & shower rooms), Basin (Sanitary ware) & Toilet Bowl, Power
Tools, Computer Peripherals & Accessories, Kitchen Appliances - Electrical,
Personal Care Appliances - Electrical, Fan - Electrical, Electrical Domestic
Appliances – Miscellaneous, etc.
AAE is helping its clients trade the above-mentioned products.
The subject’s history in Hong Kong is just over three years and
five months.
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
or in small credit amounts.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.90 |
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1 |
INR 90.31 |
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Euro |
1 |
INR 80.17 |
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HKD |
1 |
INR 8.28 |
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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DIV |
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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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.