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MIRA INFORM REPORT
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Report No. : |
497751 |
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Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
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Name : |
SUNRISE CAPITAL, INC |
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Registered Office : |
P O Box 1282 Kekaha, Hawaii 96752 |
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Country : |
United States |
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Financials (as on) : |
2016 [Summarized] |
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Year of Establishment : |
1996 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject is an aquaculture company and a supplier
of genetically-improved, specific-pathogen-free (SPF) shrimp broodstock. |
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No. of Employees : |
40 |
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 (30.09.2017) |
Current Rating (31.12.2017) |
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United States |
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 |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with
a per capita GDP of $57,300. US firms are at or near the forefront in
technological advances, especially in computers, pharmaceuticals, and medical,
aerospace, and military equipment; however, their advantage has narrowed since
the end of World War II. Based on a comparison of GDP measured at purchasing
power parity conversion rates, the US economy in 2014, having stood as the largest
in the world for more than a century, slipped into second place behind China,
which has more than tripled the US growth rate for each year of the past four
decades.
In the US, private individuals and business firms make most of the
decisions, and the federal and state governments buy needed goods and services
predominantly in the private marketplace. US business firms enjoy greater
flexibility than their counterparts in Western Europe and Japan in decisions to
expand capital plant, to lay off surplus workers, and to develop new products.
At the same time, businesses face higher barriers to enter their rivals' home
markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for lower-income
families, inadequate investment in deteriorating infrastructure, rapidly rising
medical and pension costs of an aging population, energy shortages, and sizable
current account and budget deficits.
The onrush of technology has been a driving factor in the gradual
development of a "two-tier" labor market in which those at the bottom
lack the education and the professional/technical skills of those at the top
and, more and more, fail to get comparable pay raises, health insurance coverage,
and other benefits. But the globalization of trade, and especially the rise of
low-wage producers such as China, has put additional downward pressure on wages
and upward pressure on the return to capital. Since 1975, practically all the
gains in household income have gone to the top 20% of households. Since 1996,
dividends and capital gains have grown faster than wages or any other category
of after-tax income.
Imported oil accounts for nearly 55% of US consumption and oil has a
major impact on the overall health of the economy. Crude oil prices doubled
between 2001 and 2006, the year home prices peaked; higher gasoline prices ate
into consumers' budgets and many individuals fell behind in their mortgage
payments. Oil prices climbed another 50% between 2006 and 2008, and bank
foreclosures more than doubled in the same period. Besides dampening the
housing market, soaring oil prices caused a drop in the value of the dollar and
a deterioration in the US merchandise trade deficit, which peaked at $840
billion in 2008. Because the US economy is energy-intensive, falling oil prices
since 2013 have alleviated many of the problems the earlier increases had
created.
The sub-prime mortgage crisis, falling home prices, investment bank
failures, tight credit, and the global economic downturn pushed the US into a
recession by mid-2008. GDP contracted until the third quarter of 2009, making
this the deepest and longest downturn since the Great Depression. To help
stabilize financial markets, the US Congress established a $700 billion
Troubled Asset Relief Program (TARP) in October 2008. The government used some
of these funds to purchase equity in US banks and industrial corporations, much
of which had been returned to the government by early 2011. In January 2009,
Congress passed and President Barack OBAMA signed a bill providing an
additional $787 billion fiscal stimulus to be used over 10 years - two-thirds
on additional spending and one-third on tax cuts - to create jobs and to help
the economy recover. In 2010 and 2011, the federal budget deficit reached
nearly 9% of GDP. In 2012, the Federal Government reduced the growth of
spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and
other sources are lower, as a percentage of GDP, than those of most other countries.
Wars in Iraq and Afghanistan required major shifts in national resources
from civilian to military purposes and contributed to the growth of the budget
deficit and public debt. Through 2014, the direct costs of the wars totaled
more than $1.5 trillion, according to US Government figures.
In March 2010, President OBAMA signed into law the Patient Protection
and Affordable Care Act, a health insurance reform that was designed to extend
coverage to an additional 32 million Americans by 2016, through private health
insurance for the general population and Medicaid for the impoverished. Total
spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to
17.9% in 2010.
In July 2010, the president signed the DODD-FRANK Wall Street Reform and
Consumer Protection Act, a law designed to promote financial stability by
protecting consumers from financial abuses, ending taxpayer bailouts of
financial firms, dealing with troubled banks that are "too big to
fail," and improving accountability and transparency in the financial
system - in particular, by requiring certain financial derivatives to be traded
in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to
purchase $85 billion per month of mortgage-backed and Treasury securities in an
effort to hold down long-term interest rates, and to keep short-term rates near
zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In
late 2013, the Fed announced that it would begin scaling back long-term bond
purchases to $75 billion per month in January 2014 and further reduce them as
conditions warranted; the Fed ended the purchases during the summer of 2014. In
2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by
mid-2015, the lowest rate of joblessness since before the global recession
began; inflation stood at 1.7%, and public debt as a share of GDP continued to
decline, following several years of increases. In December 2015, the Fed raised
its target for the benchmark federal funds rate by 0.25%, the first increase
since the recession began. With US GDP growth below 2%, the Fed opted to raise
rates three times since then, and in mid-June 2017, the range for the target
rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY
INFORMATION
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Order: |
Kona Bay Marine Resources (The name given in the order is the
company´s trade name and its old legal name. The company merged with Sunrise
Capital, Inc. In 2007.) |
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Address in the order: |
7550 Kaumualli Hwy P.O. Box No. 1282
Kekaha, HI 96752 |
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Legal Name: |
SUNRISE CAPITAL, INC |
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Trade Names: |
KONA BAY MARINE RESOURCES |
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ID: |
213150 D1 |
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Date Created: |
1996 |
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Date Incorporated: |
Sep 6, 2005 |
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Legal Address: |
Po Box 1282 Kekaha, Hawaii 96752 United
States |
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Operative Address: |
9663 Kaumuali'i Highway, Waimea, HI. 96796,
United States (P.O. Box 1282 Kekaha, HI. 96752 USA) |
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Telephone: |
+1 (808) 338-0331 |
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Fax: |
+1 (808) 338-0332 |
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Legal Form: |
Corporation |
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Email: |
james4shrimp@aol.com |
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Registered in: |
HAWAII |
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Website: |
www.konabaymarine.com |
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Contact: |
SWEENEY, JAMES - Director |
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Staff: |
40 |
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Activity: |
NAICS 1: Miscellaneous Intermediation SIC
1: Investors, Nec |
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Banks
Bank of America CEATECH USA INC HAWAII STATE-LNR |
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History
Kona Bay Marine Resources was founded in 1996 and is based in
Honolulu, Hawaii. In 2007, the company merged with Sunrise Capital, Inc. |
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Parent Company: |
The company operates as a
subsidiary of: Integrated Aquaculture
International Hastings, Nebraska, USA. |
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PRINCIPAL
ACTIVITY
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Kona Bay Marine Resources is an
aquaculture company and a supplier of genetically-improved, specific-pathogen-free
(SPF) shrimp broodstock. |
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Products/Services description: |
Kona Bay offers Pacific White Shrimp
(Litopenaeus vannamei). It also provides several levels of technical service
ranging from troubleshooting to complete hatchery management. |
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Brands: |
KONA BAY MARIN RESOURCES |
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Sales are: |
Wholesale |
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Clients: |
Yessi Christ S.A. De C.V. |
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Suppliers: |
Sun Asia Aeration International Uni President Enterprises Corp |
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Operations area: |
National and International |
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The company imports from |
TAIWAN |
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The company exports to |
MEXICO |
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The subject employs |
40 employees |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
9663 Kaumuali'i Highway, Waimea, HI.
96796, United States (P.O. Box 1282 Kekaha, HI. 96752 USA) |
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Comments on Address: |
In 2006, the company shifted operations
to the island of Kauai, where it acquired the hatchery, farm, and processing
plant of Ceatec USA Inc. |
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Branches: |
No other branches were found. |
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Related Companies: |
No related companies were found. |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The company does not disclose information
on shareholders. The following information was provided by private sourced
and could not be confirmed: Integrated Aquaculture International Hastings, Nebraska, USA. |
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Management: |
SWEENEY, JAMES - Director CHAMBERLAIN, GEORGE JOHNSON, WALLACE SANDAL, CLARISSA KANNA, ROBERT |
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FINANCIAL
INFORMATION
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The company does not make its financial
statements public. The following information has been provided by private
sources: |
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USD 2016 |
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Sales |
1.450.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
No records found. |
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GOVERNMENT CONTRACTS |
No records found. |
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CASES |
No records found. |
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TRADEMARKS |
KONA BAY Crustacea, namely shrimp; Shrimp; White
shrimp; Prawns Owned by: SUNRISE CAPITAL, INC. Serial Number: 78873929 KONA BAY MARINE RESOURCES Marine agricultural services, namely,
hatchery design and provision of specifications for the construction and
operation… Owned by: SUNRISE CAPITAL, INC. Serial Number: 78873931 K ONA BAY TVR VR Live crustacea, namely shrimp; Live
shrimp; Live white shrimp; Live prawns; Live crustacea resistant to taura
syndrome virus… Owned by: SUNRISE CAPITAL, INC. Serial Number: 78873933 KONA BAY TVR TAURA VIRUS RESISTANT Live
crustacea, namely shrimp; Live shrimp; Live white shrimp; Live prawns; Live
crustacea resistant to taura syndrome virus… Owned by: SUNRISE CAPITAL, INC. Serial Number: 78873937 KAUAI SHRIMP Crustacea, namely shrimp; Shrimp; White
shrimp; Prawns Owned by: SUNRISE CAPITAL, INC. Serial Number: 78873940 |
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RENEWAL HISTORY |
FILING YEAR DATE RECEIVED STATUS 2017 Aug 24, 2017 Processed 2016 Jul 6, 2016 Processed 2015 Aug 3, 2015 Processed 2014 Jul 22, 2014 Processed 2013 Jul 24, 2013 Processed 2012 Jul 24, 2012 Processed 2011 Jul 20, 2011 Processed 2010 Jul 23, 2010 Processed 2009 Jul 1, 2009 Processed 2008 Aug 19, 2008 Processed 2007 Aug 27, 2007 Processed 2006 Oct 6, 2006 Processed |
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UCC |
Document Number: A2005209751 Grantor: CEATECH USA INC Grantee: SUNRISE CAPITAL, INC. Instrument Code: AL-ASSIGNMENT OF LEASE Recording Date:2005-10-14 Document Number: A2005209752 Grantor: HAWAII STATE-LNR Grantee: SUNRISE CAPITAL, INC. Instrument Code: CON-CONSENT Recording Date: 2005-10-14 Document Number: A2005209753 Grantor: HAWAII STATE-LNR Grantee: SURNISE CAPITAL, INC. Instrument Code: CON-CONSENT Recording Date: 2005-10-14 Document Number: A2005209754 Grantor: HAWAII STATE-LNR Grantee: SUNRISE CAPITAL, INC. Instrument Code: CON-CONSENT Recording Date:2005-10-14 Document Number: A2005209755 Grantor: HAWAII STATE-LNR Grantee: SUNRISE CAPITAL, INC. Instrument Code: CON-CONSENT Recording Date: 2005-10-14 Document Number: A2005209756 Grantor: HAWAII STATE-AGR Grantee: SUNRISE CAPITAL, INC. Instrument Code: CON-CONSENT Recording Date: 2005-10-14 Document Number: A2005259433 Grantor: SUNRISE CAPITAL, INC. Grantee: KOMATSU FINL LTD Instrument Code: PTP FSU-FINANCING
STATEMENT Recording Date: 2005-12-20 Document Number: A2006009020 Grantor: SUNRISE CAPITAL, INC. Grantee: AIRGAS GASPRO INC Instrument Code: FSU-FINANCING STATEMENT Recording Date: 2006-01-13 Document Number: A2007219987 Grantor: SUNRISE CAPITAL, INC. Grantee: RON & SANNE HIGGINS 1998
IRREVOCABLE GRA Instrument Code: SU-FINANCING STATEMENT Recording Date:2007-12-21 Document Number: A2008087334 Grantor: SUNRISE CAPITAL, INC. Grantee: RON & SANNE HIGGING 1998
IRREVOCABLE TR Instrument Code: FSU-FINANCING STATEMENT Recording Date: 2008-05-29 |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
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SUMMARY
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Founded in 1996, Kona Bay Marine
Resources is a mid-sized organization in the investors industry located in Waimea,
HI. It has 40 full time employees and
generates an estimated $1.4 million in annual revenue. The company operates nationally and
internationally, mainly importing from Taiwan. It is ACTIVE in business with
no negative records. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
No Complaints |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW
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NAME |
- |
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POSITION |
- |
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COMMENTS |
We called number +1 (808) 338-0331
several times and received no answer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.02 |
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1 |
INR 90.12 |
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Euro |
1 |
INR 80.09 |
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USD |
1 |
INR 64.97 |
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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VAR |
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Report Prepared
by : |
NIT |
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
·
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.