MIRA INFORM
REPORT
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Report Date : |
05.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
THOMSON GUANGDONG DISPLAY CO., LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
15.12.1995 |
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Com. Reg. No.: |
440600400002659 |
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Legal Form : |
Chinese-Foreign Equity Joint
Venture |
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Line of Business : |
manufacturing and selling color picture tubes. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 500,000 |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a2 |
a2 |
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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 |
company name & address
THOMSON GUANGDONG DISPLAY Co., Ltd.
NO.
24
TEL: 86 (0)
757-83984341/83984375 FAX: 86 (0)
757-83984417
EXECUTIVE SUMMARY
INCORPORATION DATE : december 15, 1995
REGISTRATION NO. : 440600400002659
REGISTERED LEGAL FORM :
CHINESE-FOREIGN EQUITY JOINT VENTURE
STAFF STRENGTH : 2,300
REGISTERED CAPITAL :
usd 212,400,000
BUSINESS LINE : MANUFACTURING
TURNOVER : CNY 1,081,286,000 (AS OF DEC. 31, 2009)
EQUITIES : CNY 425,790,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : well-known
EXCHANGE RATE :
CNY
6.75 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: SC’s complete name should be the heading one,
while the given name Tgdc Guangdong Display Co., Ltd. is SC’s complete
name in abbreviation.
SC was registered as a Chinese-foreign equity joint venture enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on December 15, 1995.
Company Status: Chinese-foreign equity joint venture
enterprise This form of business in PR
China is defined as a legal person. It is a limited co. jointly invested by
one or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of capital
investment. The investing parties exercise business management, share
profits and bear all risks and liabilities of the co. together. The equity
joint venture law requires that foreign party contribute not less than 25%
of the registered capital, with no maximum. The investing parties are free
to agree on method of profit distribution and liabilities bearing according
to the proportion of capital investment. Each investing parties contributes
funds, tangible assets, technology & etc. The board of directors
excises the high authority. The joint venture usually has a limited
duration of 10 to 50 years. Enterprise with large investment, long
construction periods, low investment returns, introducing of advanced
technology & advanced technology products that have good competition
position in international market may extend beyond the 50 years limit.
SC’s registered
business scope includes manufacturing and selling color picture tubes and
components of color picture tubes and display devices.
SC is mainly
engaged in manufacturing and selling color picture tubes.
Mr. Harish Sood has been legal representative and chairman of SC since
October of 2009.
SC is
known to have approx. 2,300 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone
of Foshan. Our checks reveal that SC owns the total premise about 50,000 square
meters.
SC is not known to host website of its own at present.
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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Company name |
Foshan Color Picture Tube Co., Ltd. |
Thomson Foshan Color Picture Tube Co.,
Ltd. |
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Legal representative |
Feng Qing |
Bernard Varaut |
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Legal representative |
Bernard Varaut |
Didier Trutt |
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Registered capital |
USD 13,000,000 |
USD 33,000,000 |
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Company name |
Thomson Foshan Color Picture Tube Co.,
Ltd. |
Thomson Guangdong Display Co., Ltd. |
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Registered capital |
USD 33,000,000 |
USD 66,300,000 |
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Registered capital |
USD 66,300,000 |
USD 82,400,000 |
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Registered capital |
USD 82,400,000 |
USD 212,400,000 |
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Shareholders |
Thomson Tubes & Displays S.A. (France)
77.60%, Foshan Color Picture Tube Company22.40% |
Thomson Tubes & Displays S.A. (France)
91.31%, Foshan Color Picture Tube Company 8.69% |
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Legal Representative |
Didier Trutt |
Kuldeep Drabu |
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Chinese company name |
汤姆逊广东显示器件有限公司 |
汤姆森广东显示器件有限公司 |
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Legal Representative |
Kuldeep Drabu |
Neeraj Kumar |
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Registration No. |
001522 |
440600400002659 |
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Legal Representative |
Neeraj Kumar |
Harish Sood |
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Shareholders |
Thomson Tubes & Displays S.A. (France)
91.31%, Foshan Color Picture Tube Company 8.69% |
Present ones |
Note: SC changed its Chinese name in November of 2007, while its English
name remains the same.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
TTD International S.A.S (
Foshan Color Picture Tube Company 8.69
……………………………………..
Legal representative:
Registration No.: 440600000002935
Incorporation date: Oct. 14, 1993
Add: No. 22 Jihua 6 Road, Chancheng
District,
Tel: 0757 83780152
l
Legal representative and chairman:
Mr. Harish Sood, Indian, Passport No.: F5966097,
born in 1956. He is currently responsible for the
overall management of SC.
Working Experience(s):
From October of 2009 to present Working in SC as legal representative and chairman
l
Vice-chairman:
Mr.
Working Experience(s):
At present Working in SC as vice-chairman
Also working in Foshan Color Picture Tube Company as legal representative.
Directors:
------------
Jin Weiqiang
ID#: 610103196410262472
Subhash Sham Dayama (Indian) Passport#: E8781544
Pradeep Paliwal (Indian) Passport#: G1660131
Vivek Dattatraya Dharm (Indian) Passport#: E8781579
Rajesh Narayan Warde (Indian) Passport#: E9439789
SC is mainly
engaged in manufacturing and selling color picture tubes.
SC’s products mainly include color picture tubes, mainboard,
CRT monitor, and so on.
SC sources its materials 95%
from domestic market, and 5% from overseas market, mainly
The buying terms of SC include Check, T/T, L/C and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
SC is known to have the following subsidiary:
Thomson
Guangdong Display Co., Ltd. Dongguan Branch
…………………………………………………………….
Add:
Tel:
0769-22404888
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment and our debt collection record concerning SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent
payment record: None in our database.
Debt collection record: No overdue amount owed by SC was placed to us for
collection within the last 6 years.
SC’s management declined
to release its bank details.
Financial
Information
Unit: CNY’000
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as of Dec. 31,
2008 |
as of Dec. 31,
2009 |
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Total
liabilities |
1,173,884 |
1,028,259 |
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Shareholders
equities |
702,683 |
425,790 |
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--------------- |
--------------- |
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Total Assets |
1,876,567 |
1,454,049 |
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========= |
========= |
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Turnover |
1,929,937 |
1,081,286 |
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Total
profits before tax |
3,198 |
-276,893 |
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Net profit |
3,198 |
-276,893 |
Note: we did not find SC’s detailed financial reports for
Yr2008 and Yr2009.
Important Ratios
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as of Dec. 31,
2008 |
as of Dec. 31,
2009 |
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*Liabilities
to assets |
0.63 |
0.71 |
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*Net profit
margin (%) |
0.17 |
-25.61 |
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*Return on total
assets (%) |
0.17 |
-19.04 |
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*Turnover/Total
assets |
1.03 |
0.74 |
PROFITABILITY:
FAIR
l
The turnover of SC appears good in its line, but it
decreased greatly in 2009.
l
SC’s net profit margin is average in 2008, but POOR
in 2009.
l
SC’s return on total assets is average in 2008, but
fair in 2009.
l
SC’s turnover is in an average level in 2008, but
in a fair level in 2009, comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable
SC is considered large-sized in its line with fairly stable financial
conditions. A credit line up to USD 500,000 appears to be within SC’s
capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.84 |
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1 |
Rs.69.32 |
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Euro |
1 |
Rs.59.79 |
RATING EXPLANATIONS
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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 |
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.