MIRA INFORM REPORT

 

 

Report Date :

01.06.2012

 

IDENTIFICATION DETAILS

 

Name :

CHINA OCEAN ENGINEERING CONSTRUCTION GENERAL BUREAU

 

 

Registered Office :

No. 36 Cuiwei Road, Haidian Dist, Beijing

 

 

Country :

China

 

 

Financials (as on) :

2010

 

 

Date of Incorporation :

14.05.1996

 

 

Com. Reg. No.:

100000000019679

 

 

Legal Form :

State-owned enterprise

 

 

Line of Business :

Engineering contracting of water conservancy and harbour construction

 

 

No. of Employees :

3,000

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

China

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

   

China Ocean Engineering Construction General Bureau

Currency in this report is Chinese Yuan unless otherwise stated.

Exchange Rate: 1 USD=6.33 Chinese Yuan

"--"in this report indicates "unavailable" due to insufficient information or "no comments"

 

 

ORDER INFORMATION

 

name

China Ocean Engineering Construction General Bureau

address

Room 3023 No. 36 Cuiwei Road Beijing

tel.

01066963075

fax

01063988133

 

Note:

1. The given address belongs to one of subject's offices.

2. The given credit amount is higher. Our recommended credit amount is about USD 2,000,000.

 

 

EXECUTIVE SUMMARY

 

DATE OF establishment

May 14th, 1996

Aic Registration No.

100000000019679

REGISTERED LEGAL FORM

State-owned enterprise

REGISTERED CAPITAL

175,750,000

main BUSINESS

Engineering contracting of water conservancy and harbour construction

employees

3,000 (compound)

import and export permits

No

EXCHANGE RATE

1 Usd=6.33CNY (MAY.30th, 2012)

                              

Registered Address

No. 36 Cuiwei Road, Haidian Dist, Beijing

Zip Code

100036

 

 

Business Address

No. 36 Cuiwei Road, Haidian Dist, Beijing

Zip Code

100036

Telephone

86 10 66963075/66966966

Fax

86 10 63988133

 

 

SIC Code (China)

4722 water conservancy and harbour construction

              

              

REGISTRATION

 

Name (Chinese)

中海工程建设总局

Name (English)

China Ocean Engineering Construction General Bureau

Date of Establishment

May 14th, 1996

Registry

State Administration for Industry and Commerce

Legal Representative

Zhao Zhisheng

AIC Registration Number

100000000019679

Registered Legal Form

State-owned enterprise

Registered Capital

175,750,000

Operating Duration

Perpetual

Business Scope

Contracting and construction of: harbour, port, waterway, ship building factory, coast, ocean engineering and supporting engineering, industrial/military/civil buildings, wire, tank and pipe construction for road, airport, bridge, tunnel etc.

Installation of electromechanical equipments for harbour;

Processing and installation of cement parts and metal parts used for construction;

Renting of construction equipments;

Related technical, information and labor consulting and service

                        

 

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.

REGISTRATION INFO: AVAILABLE

FINANCIAL REPORTS: AVAILABLE

    

     

FIELD INVESTIGATION

 

As a construction enterprise, subject's income mainly comes contracting of harbour, port, municipal, residence construction. It has undertaken many projects including Donghai Road embellishing engineer of Qingdao City, underwater engineering of hydropower station etc. Currently in China, companies in water conservancy and harbour construction industry are a few large-sized enterprises which have strong competitiveness. With long history and professional certificates, subject has accumulated certain popularity and customer network, its overall competitiveness is above average in the local place.

As the capital city of China and the national political and economic center, Beijing City host very convenient traffic condition. The headquarters of many large-sized and multi-national enterprises are established in Beijing due to its leading political and economic position. Fast growing economy environment provides supports to subject's business development.

 

 

SHAREHOLDERS AND SHARES

 

From public channels, subject is a wholly-owned subsidiary of CHINA OCEAN AVIATION GROUP INC. In Dec.2007, it was incorporated into China National Machinery Industry Corporation together with CHINA OCEAN AVIATION GROUP INC..



AFFILIATE(S)

 

Branch Name

China Ocean Engineering Construction General Bureau - Dalian Construction Bureau

Registered address

No.60-5, Taiyang St, Zhongshan Dist, Dalian City, Liaoning

 

 

Branch Name

China Ocean Engineering Construction General Bureau - Beihai Branch, Qingdao

Registered address

No.67, Liaoning Rd, Shibei Dist, Qingdao, Shandong

 

 

Branch Name

China Ocean Engineering Construction General Bureau - Zhuhai Branch

Registered address

No.230, Renmin East Rd, Xiangzhou Dist, Zhuhai City, Guangdong

 

 

MANAGEMENT

 

Name

Zhao Zhisheng

Gender

Male

Title

Chairman; Secretary of the Party Committee

Education

--

Working experience

CHINA OCEAN AVIATION GROUP INC. - Secretary of the Party Committee; vice chairman

         

         

NUMBER OF EMPLOYEES

 

Employees: 3,000

Management Staff: 50

Recent recruitment: Yes

Job-hunting websites

Job title

Number

http://pipe.job1001.com/Company_Detail.php?CompanyDetail=cm1273233834699

Water supply engineer

Unlimited

http://pipe.job1001.com/Company_Detail.php?CompanyDetail=cm1273233834699

Level - 1 harbour constructor

Unlimited

http://pipe.job1001.com/Company_Detail.php?CompanyDetail=cm1273233834699

Project engineering manager

Unlimited

 

 

BANKERS INFORMATION

 

Comment

Subject's staff refused to disclose it bank information.

         

           

OFFICE FACILITIES

 

Geographic Location

No. 36 Cuiwei Road, Haidian Dist, Beijing

Area

5,000square meters

Environment

Business area

Traffic condition

The building is in the neighborhood of Fuxing Road, East Third Ring Road and the No.1 subway line. The traffic condition is good.

Purpose

Office

Property Ownership

Rented

           

           

WEBSITE

 

Website

http://www.coecg.com/

e-mail

coec@coecg.com

Operation status

Operational

Copyright

Subject

Language

Chinese; English

           

           

TRADEMARKS/PATENTS 

 

After checking with the Trademark Office of Chinese Administration Bureau of Industry and Commerce and the State Intellectual Office, no trademarks or patents of SC were found.

     

        

MAIN PRODUCTS & SERVICES

 

Main business

Contracting of harbour and water conservancy engineerings

Products and services

As a large-sized state-owned construction enterprise, subject is engaged in construction contracting of water conservancy, harbour, port, flood control dam, environment construction, highway, waterway, steel structure engineerings etc.

Picture of specific products

Awards & Honors

national level "LuBan Architecture Awards

Excellent Construction Enterprise;

"high quality project" "typical project";

etc.

Certificates / licenses

ISO9001：2000;

ISO14001

OHSAS18000;

Class-A General Contractor's qualification certificate for Harbor and Navigation Channel Engineering;

Class-A General Contractor's qualification certificate for Municipal Civil Engineering,;

Class-A General Contractor's qualification certificate for House Construction Engineering;

 

           

           

SALES INFORMATION

 

Domestic sales

95%

Regions

All over China

Major domestic clients

JINZHOU LONGQIWAN HARBOUR DEVELOPMENT CO. LTD; INNER MONGOLIA HULUNBUIR HULUN-LAKE FISHERY CO. LTD

Competitors

CHINA ROAD & GRIDGE CORPORATION;

JILIN PROVINCIAL CONSTRUCTION GROUP;

CHINA CONSTRUCTION EIGHT ENGINEERING DIVISION CORP. LTD;

CHINA COMMUNICATIONS CONSTRUCTION COMPANY LIMMITED;

SHANDONG LUQIAO GROUP CO. LTD

 

Payment terms

Prompt payment; on credit

Export

5%

Regions

Sudan; Asian countries

Major overseas clients

--

Payment terms

L/C, T/T

Subject has undertaken many large-sized projects including ; Engineering for Caobao Road Overpass on the Outer Ring Roard in Shanghai; North Dike of Breakwater Project in Xinbu, Haikou etc. It mainly contracts the projects through bidding.

The above information was confirmed by SC’s employee on MAY.30th, 2012.

 

 

PURCHASE INFORMATION

 

Main Commodities Purchased

Cement, concrete, construction equipments, engineering ships

Number of Major Suppliers

About 5

Region

Domestic:100 %

Import: 0%

Major suppliers

Beijing Zhidian Century Technology Co. Ltd

Main Terms of Payment

Local: Prompt payment; on credit

Subject's raw materials and construction equipments are all purchased domestically. Due to the wide purchasing channel, its suppliers are not fixed.

The above information was confirmed by SC’s employee on MAY.30th, 2012.

 

           

CREDIT 

 

Name of supplier

Beijing Zhidian Century Technology Co. Ltd

Main commodities and service supplied

Website service

Interviewee

Business staff

Telephone of Interviewee

86 10 87733157

Payment comment

The investigated person confirmed that SC is one of their clients and SC’s credit status is good.

          

          

LITIGATION RECORDS

 

Total records

85 (only the latest 3 are listed)

 

 

Name of person subject to enforcement

China Ocean Engineering Construction General Bureau

Court

No.1 Intermediate People's Court of Beijing

File date

May 31st, 2010

File No.

(2010) Yi Zhon Zhi Zi 01024

Amount

1,539,450.20 CNY

Status

Closed

 

 

Name of person subject to enforcement

China Ocean Engineering Construction General Bureau

Court

People's Court of Luogang Dist, Guangzhou

File date

Sep.15th, 2009

File No.

(2009) Luo Fa Min Zhi Zi 00962

Amount

8,802.00 CNY

Status

Closed

 

 

Name of person subject to enforcement

China Ocean Engineering Construction General Bureau

Court

People's Court of Haiyang City

File date

Oct.14th, 2008

File No.

(2008) Hai Zhi Zi 01489

Amount

158,937.00 CNY

Status

Suspended

           

           

OTHER ADVERSE MEDIA INFORMATION

 

Date

Source

Content

Feb.23rd, 2007

http://www.lawxp.com/case/c18803.html

contract dispute

Jun.5th, 2009

http://www.lawxp.com/case/c221017.html

payment dispute

Dec.2nd, 2001

http://www.110.com/panli/panli_44319.html

Quality dispute

           

           

MEDIA INFORMATION

 

1. Engineering contracting information: http://www.jdzj.com/gongcheng/article/2008-4-16/8799-1.htm

2. Introduction of subject: http://www.cwtca.org.cn/UserHomeAction.do?action=home&id=12

3. Subject's winning of the bidding: http://www.hulunhu.com/wz/nr.aspx?id=387

4. Subject's winning of the bidding: http://www.cjk3d.net/viewnews-348124

5. Subject's winning of the bidding: http://www.water-jy.com/show-9-186413-1.html

6. Subject's winning of the bidding: http://www.gz.xinhuanet.com/zfpd/2010-12/27/content_21725754.htm

 

 

FINANCE

 

According to subject's staff, as a state-owned enterprise with long history and large scale, subject's sales volume of 2011 was higher than 1.5 billion CNY. Its business is predicted to be well developed in 2012.

Ratios of the industry average

        

2010

Return on net assets (%)   

10.30

Return on total assets (%)   

2.91

Net profit margin (%)

5.17

Turnover of total assets

0.60

Turnover of current assets  

1.06

Turnover days of account receivable

78.70

Inventory turnover days

73.20

Asset liability ratio (%)

71.11

Current ratio

1.07

Quick ratio

0.83

 

 

Analysis of financial indicator

 

In the new development era, infrastructure water conservancy construction are given more attention by the government. Water conservancy industry is facing with wide developing space. As a large-sized enterprise with long history and sufficient experience as well as capital supporting by the affiliated group, subject's competitiveness is strong. In the meantime, the high economic development level of Beijing City provides favorable factors to its business development.

       

 

INDUSTRY PROFILE

 

Industry

SIC Code (China): 4722 water conservancy and harbour construction

Description: construction of water reservoir, flood control dam, flood storage area; water conservancy project; water management project; water and soil conservation project; harbour, port, shipyard etc.; riverway, water canal etc; hydro power station engineer

Status Quo & Trend

As the basis of water transportation, water conservancy and harbour is closely related to the national economy. Being a capital and technology intensive industry, it is rapidly developed in recent years. In 2010, the total investment in water conservancy engineering reached 200 billion CNY. Currently in China, there are 22 harbors that have throughput capacity of higher than 100 million tons. Among the top 20 hundred million tons harbors, 12 are in China. However, comparing with the international modernized harbors, Chinese harbors still fall behind in the level of modernization and intellectualization

In 2011, the central government has issued official document that required to strengthen the construction of agricultural water conservancy and other related infrastructure. The document decided that the annual investment in social water conservancy engineering in the next 10 years would be twice as that of 2010. Water conservancy industry is facing with unprecedented developing opportunity.

 

 

Industry Associations

 

Name of association

Membership of subject (Yes/No)

CHINA ASSOCIATION OF CONSTRUCTION ENTERPRISE MANAGEMENT

Yes

China's water transport construction industry association

Yes

China Dredging Association

Yes

CONSTRUCTION INDUSTRY ASSOCIATION OF HAIDIAN DIST, BEIJING

Yes

        

        

GENERAL COMMENTS 

 

Established in May 1996 as a state-owned enterprise, subject is a large-sized construction company holding several professional certificates. With long history, it has accumulated sufficient industry experience and has won many professional awards. It enjoys high popularity in the industry.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.42

UK Pound

1

Rs.87.37

Euro

1

Rs. 69.95

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.