MIRA
INFORM REPORT
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Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
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Name : |
SYNTHITE (XINJIANG) BIOTECH CO., LTD. |
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Registered Office : |
Room 201, Unit 1, Block C, East Zone, Tuanjie Community, Tuanjie West Road, Hejing County,
Mongolian Autonomous Prefecture Of Bayingolin, Xinjiang 841300 Pr |
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Country : |
China |
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Date of Incorporation : |
14.11.2011 |
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Com. Reg. No.: |
650000410004222 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
purchasing agricultural products; importing and exporting commodities
and technology; domestic wholesales business; marketing consulting, and after
service for related products |
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No. of Employees : |
Not Available |
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
|
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
Synthite
(xinjiang) biotech co., ltd.
room 201, unit 1, block c, east zone,
tuanjie Community
tuanjie west road, hejing county
Mongolian Autonomous Prefecture of
Bayingolin
xinjiang 841300 PR CHINA
TEL: 86 (0) 10-62602225/18611979470
FAX: N/A
EXECUTIVE SUMMARY
Date of Registration : NOVEMBER 14, 2011
REGISTRATION NO. : 650000410004222
LEGAL FORM : Wholly foreign-owned enterprise
REGISTERED CAPITAL : usd 6,500,000
staff :
n/a
BUSINESS CATEGORY : n/a
Revenue :
n/a (AS
OF DEC. 31, 2011)
EQUITIES :
n/a (AS
OF DEC. 31, 2011)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT :
not yet be determined
MARKET CONDITION : currently remains to be observed
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : not known
GENERAL REPUTATION : not known
EXCHANGE RATE :
CNY 6.23 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
LEGAL STATUS & HISTORY
*** Note: SC’s
Current address should be the heading one, while the (No 3209 Yuanzhongyanan
Road, Korla, China) was the former one.
SC was established
as a wholly foreign-owned enterprise of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 650000410004222 on
November 14, 2011.
SC’s Organization Code Certificate No.:
58476708-7
%20BIOTECH%20CO%20,%20LTD%20%20-%20203241%2014-Dec-2012_files/image008.jpg)
SC’s registered capital: usd 6,500,000
Registration Change Record:-
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Synthite Industries Limited (India) |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
C.V.Jacob |
|
General Manager and Director |
Boby Davis
Thekkekara |
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Deputy General Manager and Director |
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Director |
Aju Jacob |
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Supervisor |
Ling Ruirui |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Synthite Industries Limited (India) 100
---------------------------------
Ajay Vihar, M.G. Road, Cochin,
Kerala 682 016, India
Tel: 91-484-3012222/3013090
Fax: 91-484-2378801
E-mail: www.synthite.com
MANAGEMENT
C.V.Jacob, Legal Representative and Chairman
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Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
From 2011 to present, working in SC as legal
representative and chairman
Boby Davis
Thekkekara, General Manager and Director
-------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
From 2011 to present, working in SC as
general manager and director
--------------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
From 2011 to present, working in SC as deputy
general manager and director
Aju Jacob,
Director
-------------------------
Ø
Gender: M
Ø Qualification:
University
Ling
Ruirui , Supervisor
-------------------------------------------
Ø
Gender: F
Ø Qualification:
University
Ø Mobile Phone Number:
86 (0) 18611979470
BUSINESS OPERATION
SC’s registered
business scope includes purchasing agricultural products; importing and
exporting commodities and technology; domestic wholesales business; marketing
consulting, and after service for related products.
SC has not started
its normal business.
Staff & Office:
--------------------------
SC’s staff details
are not available at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
SC
is not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good ( ) Average ( ) Fair ( ) Poor (X) Not yet be 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: Not available.
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.
BANKING
The bank information
of SC is not filed in local SAIC.
FINANCIALS
Established at the end of 2011, SC has not started its normal business,
so the financials are not available at present.
CONCLUSIONS
Established at the end of 2011, SC has not started its normal business,
and its credit has not been established yet.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.23 |
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UK Pound |
1 |
Rs.87.53 |
|
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.