MIRA
INFORM REPORT
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Report Date : |
07.04.2012 |
IDENTIFICATION DETAILS
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Name : |
Honda
Mindong Generator Co., Ltd. |
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Registered Office : |
No. 7, Houyu Road, Fuxing Investment Zone, Gushan, Fuzhou,
Fujian Province, 365100 Pr |
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Country : |
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Date of Incorporation : |
13.10.1994 |
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Com. Reg. No.: |
350000400001795 |
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Legal Form : |
Chinese-Foreign Equity Joint Venture |
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Line of Business : |
Manufacturing
and selling generator. |
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No. of Employees : |
400 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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China |
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 and address
Honda Mindong Generator Co., Ltd.
NO. 7, HOUYU ROAD, FUXING INVESTMENT ZONE, GUSHAN, FUZHOU,
FUJIAN PROVINCE, 365100 PR CHINA
TEL: 86 (0)
591-83623588/83623088/83629910 FAX:
86 (0) 591- 83622222
EXECUTIVE SUMMARY
INCORPORATION DATE : OCT. 13, 1994
REGISTRATION NO. : 350000400001795
REGISTERED LEGAL FORM : Chinese-foreign equity
joint venture enterprise
STAFF STRENGTH :
400
REGISTERED CAPITAL : USD 6,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER : N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : MODERATE AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.3149 = USD 1
Adopted abbreviations
ANS - amount not
stated
NS - not stated
SC - subject
company (the company inquired by you)
NA - not available
CNY - China Yuan Ren Min Bi
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 Oct. 13, 1994.
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 generator sets,
water pump and its accessories and spare parts, importing & exporting,
wholesaling the above products, and after-sales service. (Involved in approval
of the licensing program, allowing only engaged in the production and operation
within the scope and expiration date of the approval authority)
SC is mainly
engaged in manufacturing and selling generator.
Mr. Seiji Kuraishi
is legal representative and chairman at present.
SC is known
to have approx. 400 employees
at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the investment zone of Fuzhou. Our checks
reveal that SC owns the total premise, but the gross area of the premise is
unspecific.
http://www.honda-mindong.com The design is professional and the content is
well organized. At present it is in Chinese and English versions.
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Shareholders |
Mindong Electric (Group) Co., Ltd. Honda Motor Co., Ltd. (Japan) |
Present ones |
SC has got the certificate of ISO9002:1994; ISO9001:2000; ISO14001.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Honda Motor Co., Ltd. (Japan) 60
Fujian Electric Information (Group) Co., Ltd. 30
Honda Motor (China) Investment Co., Ltd. 10
Honda Motor Co.,
Ltd. (Japan)
=============================
Honda Motor Co., Ltd. operates under the basic
principles of "Respect for the Individual" and "The Three
Joys" - commonly expressed as The Joy of Buying, The Joy of Selling and
The Joy of Creating. "Respect for the Individual" reflects our desire
to respect the unique character and ability of each individual person, trusting
each other as equal partners in order to do our best in every situation. Based
on this, "The Three Joys" expresses our belief and desire that each
person working in, or coming into contact with our company, directly or through
or products, should share a sense of joy through that experience. In line with
these basic principles, since its establishment in 1948, Honda has remained on
the leading edge by creating new value and providing products of the highest
quality at a reasonable price, for worldwide customer satisfaction. In
addition, the Company has conducted its activities with a commitment to
protecting the environment and enhancing safety in a mobile society.
The Company has grown to become the world's
largest motorcycle manufacturer and one of the leading automakers. With a
global network of 474* subsidiaries and affiliates accounted for under the
equity method, Honda develops, manufactures and markets a wide variety of
products, ranging from small general-purpose engines and scooters to specialty
sports cars, to earn the Company an outstanding reputation from customers
worldwide.
Incorporation
date: September 24, 1948
Registered
capital: JPY 86,000,000,000
Legal Representative: Takanobu Ito
Website: www.honda.co.jp
Tel:
81-03-3423-1111
Fax:
81-03-3423-0511
Add: 1-1, 2-chome,
Minami-Aoyama, Minato-ku, Tokyo 107-8556, Japan
Fujian Electric
Information (Group) Co., Ltd.
===============================
Registration No.: 350000100015953
Legal Representative: Liu Jieming
E-mail: feig@feig.com.cn
Tel: 86-591-83379833/83371596/83371015
Add: Furi Building, No. 169, Wuyi North
Road, Gulou District, Fuzhou, Fujian Province
l
Legal Representative and Chairman:
Mr. Seiji Kuraishi, Japanese. He is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman.
l
General Manager:
Mr. Zhongchuan Gaoxing (in Chinese Pinyin), Japanese.
He is currently responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as general manager.
SC is mainly engaged
in manufacturing and selling generator.
SC’s products
mainly include: EC/EP series (1.3-5KVA) gasoline generators, WB series (2-inch
and 3-inch) water pumps.
SC sources its
materials 60% from domestic market, and 40% form overseas market. SC sells 80%
of its products in domestic market, and 20% to overseas market, mainly America,
Europe, and Japan.
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.
Note:
SC’s management declined to release its major suppliers and clients.
According to SC’s website:
Sundiro
Honda Motorcycle Co., Ltd
Guangqi
Honda Automobile Co., Ltd.
Dongfeng
Honda Engine Co., Ltd.
Dongfeng
Honda Auto Parts Co., Ltd.
Etc.
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 records 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.
Bank of Communications Fuzhou Sanshan Sub-branch
AC#：N/A
Relationship:
Normal.
SC’s financial reports
were not found during our checks with the local Administration for Industry and
Commerce.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with a development history of
18 years. Credit up to moderate amount may be considered.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.04 |
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|
1 |
Rs.81.08 |
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Euro |
1 |
Rs.67.39 |
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 |
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NB |
New Business |
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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.