MIRA
INFORM REPORT
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Report Date : |
20.07.2012 |
IDENTIFICATION DETAILS
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Name : |
China Ocean Aviation Group Incorporation |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27.04.1985 |
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Com. Reg. No.: |
100000000003375 |
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Legal Form : |
State-Owned |
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Line of Business : |
Engaged in investment and management in its subsidiaries, international trade, engineering construction, labor dispatch business, etc. |
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No. of Employees : |
50 |
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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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Company name and address
China Ocean Aviation Group Incorporation
No. 36 Cuiwei Road,
HaIdian District, Beijing, 100036 PR CHINA
TEL: 86 (0) 10-63984671 FAX:
86 (0) 10-63984670
EXECUTIVE SUMMARY
INCORPORATION DATE : aPR. 27, 1985
REGISTRATION NO. : 100000000003375
REGISTERED LEGAL FORM : STATE-OWNED ENTERPRISE
STAFF STRENGTH :
50
REGISTERED CAPITAL : CNY 568,473,000
BUSINESS LINE :
investment, TRADE, engineering construction
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : WELL-KNOWN
EXCHANGE RATE : CNY 6.37 = 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 State-owned enterprise at State
Administration for Industry & Commerce (AIC - The official body of issuing and
renewing business license) on Apr. 27, 1985.
Company Status: State-owned enterprise This form of business in PR
China is defined as a commodity production or operational units of a
socialist character which in accordance with the law, has autonomy in
management, takes full responsibility for its profits and losses and
practices independent business accounting. It is a legal person established
directly by central / local government or enterprise owned by central or
local government. In theory, the liabilities of this form of enterprise are
ultimately borne by the government, since the adoption of company law in
mid-1994, the Chinese government has planned to separate the ownership from
management and liabilities bearing.
SC’s registered
business scope includes sending all kinds of labor personnel abroad (including
seafarers, valid until October 17, 2017); contraction of domestic and overseas
ports, water aerodrome engineering and other marine engineering; import and
export business; selling textiles, telecommunications equipment, building
materials, hardware, household appliances, photographic equipment, clothing and
footwear, daily commodities, arts and crafts, paper and paper products,
electrical and mechanical equipment, daily household appliances, instruments,
office automation equipment, cosmetics, glass products, leather products, toys,
watches, stationery, ceramic products, raw materials and chemical products (
except hazardous chemicals ), rubber and plastic products, transportation equipment
spare parts; interior decoration, facilities installation, air-conditioning
installation, mechanical repair; technical consulting and technology services
related to above business.
SC is mainly
engaged in investment and management in its subsidiaries, international trade,
engineering construction, labor dispatch business, etc.
Mr. Liu Jingzhen
is legal representative and general manager of SC at present.
SC is known
to have approx. 50 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and head office in the commercial zone of Beijing. Detailed
information of the premise is unspecified.
http://www.coagi.com.cn/
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
SC’s former company name was China Ocean Aviation Company
MAIN SHAREHOLDERS:
Name %
of Shareholding
China National Machinery Industry
Corporation 100
China National Machinery Industry
Corporation (SINOMACH) is a large state-owned enterprise approved by the State Council
and administered by the State-owned Assets Supervision and Administration
Commission. SINOMACH is a Global 500 enterprise.
Registration no.: 100000000008032
Legal representative: Ren Hongbin
Registered capital: CNY 7,127,070,000
Add: No. 3 Danling Street, Haidian District,
Beijing
Tel: +86 10 82688888
Fax: +86 10 82688811
Web: http://www.sinomach.com.cn
E-Mail: office@sinomach.com.cn
l
Legal Representative and General Manager:
Mr. Liu Jingzhen is currently
responsible for the overall and daily management of SC.
Working Experience(s):
At
present Working in SC as legal
representative and general manager.
Also working in China Machinery Industry
Construction Group Inc. as legal
representative.
SC is mainly
engaged in investment and management in its subsidiaries, international trade,
engineering construction, labor dispatch business, etc.
The business of SC and SC’s subsidiaries mainly include: project
contracting, logistics, real estate, hotel management, trade and services,
etc.
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 clients and suppliers.
China Machinery Industry Construction Group Inc.
Etc.
According to SC’s website, SC is known to have the following
subsidiaries:
COAG International Shipping Co. Ltd.
COAG
Kai Mulai (Beijing) International Ship Management Co., Ltd.
Qinhuangdao
Haiqi Management Development Center
Zhonghai
Engineering Construction General Bureau
COAG
Beijing International Economy &Trade Co. Ltd.
Zhonghai
International Travel Agency
Qingdao
Haibin Industrial Corp.
Shanghai
Haihong Industrial (Group) Co. Ltd.
COAG
Shanghai International Freight 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 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 whether it has account in China
Construction Bank Beijing Branch.
Investigations were made with the local AIC, but the financial records
were not available.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with a long operation history
and favorable background. Credit dealings with SC in favorable terms can be
considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.38 |
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1 |
Rs.86.75 |
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Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
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Report Prepared
by : |
PRL |
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.