MIRA
INFORM REPORT
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Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
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Name : |
GUIZHOU KAILIN FERTILIZER CO., LTD. |
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Registered Office : |
11/F, Haiton Commercial Building, No. 203 Zhonghua South Road,
Guiyang City, Guizhou Province, 550002 Pr |
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Country : |
China |
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Date of Incorporation : |
30.09.2004 |
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Com. Reg. No.: |
520100000008654 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling
fertilizers. |
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No. of Employees : |
300 employees |
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 : |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
china - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, creation of a diversified banking system, development of stock markets, rapid growth of the private sector, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors it considers important to "economic security," explicitly looking to foster globally competitive national champions. After keeping its currency tightly linked to the US dollar for years, in July 2005 China revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2010 stood as the second-largest economy in the world after the US, having surpassed Japan in 2001. The dollar values of China's agricultural and industrial output each exceed those of the US; China is second to the US in the value of services it produces. Still, per capita income is below the world average. The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic demand; (b) sustaining adequate job growth for tens of millions of migrants and new entrants to the work force; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2011 more than 250 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development. In 2010-11, China faced high inflation resulting largely from its credit-fueled stimulus program. Some tightening measures appear to have controlled inflation, but GDP growth consequently slowed to near 9% for 2011. An economic slowdown in Europe is expected to further drag Chinese growth in 2012. Debt overhang from the stimulus program, particularly among local governments, and a property price bubble challenge policy makers currently. The government's 12th Five-Year Plan, adopted in March 2011, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent on exports in the future. However, China has made only marginal progress toward these rebalancing goals.
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Source : CIA |
Company name & address
guizhou kailin fertilizer co., ltd.
11/F, HAITON COMMERCIAL
BUILDING, no. 203 zhonghua south road, guiyang city, guizhou PROVINCE, 550002
PR CHINA
TEL: 86 (0)
851-5831233/5863302 FAX: 86 (0)
851-5875375
EXECUTIVE SUMMARY
INCORPORATION DATE : september 30, 2004
REGISTRATION NO. : 520100000008654
REGISTERED LEGAL
FORM : Limited liabilities company
STAFF STRENGTH : 300
REGISTERED CAPITAL : CNY 120,000,000
BUSINESS LINE :
trading
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.2461 = 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 Renminbi
SC was registered as a limited liabilities company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on September 30, 2004.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered
business scope includes general business scope: selling: fertilizers, minerals,
building materials, chemical products, mechanical equipment, hardware, electronic
products, agricultural products, plastic products, importing and exporting
technology and goods and agent, logistics distribution (provide warehousing
services, cargo transportation agency). Permit business scope: selling:
pre-packaged foods (with permit if needed).
SC is mainly
engaged in selling fertilizers.
Ms. Liao Hui has
been legal representative, chairman and general manager of SC since 2004.
SC is known to
have approx. 300 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Guiyang. Our checks reveal that SC
owns the total premise about 1,000 square meters.
http://www.gzkl.cn The website belongs
to SC’s parent company - Guizhou Kailin (Group) Co., Ltd. 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:
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Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Registered capital |
CNY 20,000,000 |
Present amount |
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Shareholders and shareholding |
Guizhou Kailin (Group) Co., Ltd. 49% Yixing Shenli Chemical Co., Ltd. 26% Guizhou Kaiyang Phosphorite Chemical Joint-stock Cooperative Company
25% |
Present ones |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Guizhou Kailin (Group) Co., Ltd. 91.83
Guizhou Kailin Co., Ltd. 8.17
Guizhou Kailin (Group) Co., Ltd.
=========================
Kailin Group gradually shaped up six major industries of phosphorous ore
mining, phosphate chemicals producing, coal chemicals producing, real estate
developing, trading and realty management. So far it has reached an annual
capability of producing 2.8 million tons rock phosphate, 360 thousand tons
mono-ammonium phosphate, 300 thousand tons di-ammonium phosphate, 250 thousand
tons NPK compound fertilizers of different analysis, 100 thousand tons triple
super phosphate, 130 thousand tons ammonium nitrate, 75 thousand tons ammonia,
15 thousand tons yellow phosphorus, 30 million pieces of polypropylene woven
bags. It earns above 450 million US dollars foreign exchange annually through
exporting. What is more, it develops around 30 thousand square meters real
estate yearly. So far Kailin Group has grown a large-scaled and well known
phosphorous ore mining and phosphate producing enterprise of China.
Incorporation date: Dec. 25, 1995
Registration no.: 520000000032400
Registered capital: CNY 1,000,000,000
Legal rep.: Qu Qinglin
Legal form: Limited liabilities co.
Web: http://www.gzkl.cn
E-mail: gzkl@gzkl.cn
Address: 12/F, Haitian Building, No.203
Zhonghua South Road, Guiyang, Guizhou Province
Tel: 86-851-5833882
Fax: 86-851-5871225
Legal
Representative, Chairman and General Manager:
Ms. Liao Hui, in her
Working
Experience(s):
From 2004 to present Working in SC as legal representative, chairman and
general manager.
Directors:
Zhao Hengduo
Zhou Hui
SC is mainly
engaged in selling fertilizers.
Brand: KAILIN
SC’s products
mainly include: fertilizers.
SC sources its materials 100% from domestic
market, mainly Guizhou. SC sells 70% of its products in domestic market, and
30% to overseas market, mainly Southeast Asian market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Note:
SC’s management declined to release its major suppliers and clients.
According to the website: http://www.gzkl.cn
Guiyang
Zhonghua Kailin Chemical Fertilizer Co., Ltd.
=======================================
Incorporation date: Mar. 5, 2002
Registration no.: 520100000004600
Registered capital: CNY 1,118,421,000
Legal rep.: Wu Xingrong
Legal form: Limited liabilities co.
Kailin
Group Mineral Fertilizer Co., Ltd.
============================
Incorporation date: Aug. 16, 2006
Registration no.: 520121000054520
Registered capital: CNY 800,000,000
Legal rep.: Yu Aimin
Legal form: Limited liabilities co.
Guizhou
Kailin Xifeng Synthetic Ammonia Co., Ltd. (in Chinese Pinyin)
===================================================
Incorporation date: Aug. 26, 2008
Registration no.: 520122000014065
Registered capital: CNY 1,214,601,600
Legal rep.: Ding Youqing
Legal form: Limited liabilities co.
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 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 declined to
release its bank details.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with a development history of
8 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.23 |
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UK Pound |
1 |
Rs.87.53 |
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Euro |
1 |
Rs.70.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.