MIRA INFORM REPORT
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Report Date : |
09.03.2012 |
IDENTIFICATION DETAILS
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Name : |
XIAMEN C&D CORPORATION LIMITED |
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Registered Office : |
9/F Seaside Building, No. 52 Lujiang Road,
Xiamen, Fujian Province, 361001
Pr |
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Country : |
China |
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Date of Incorporation : |
06.12.2000 |
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Com. Reg. No.: |
350200100002377 |
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Legal Form : |
Sole State-Owned Enterprise |
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Line of Business : |
investing and managing
its subsidiaries |
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No. of Employees
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200 |
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 – September 30th, 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 & address
Xiamen C&D Corporation Limited
9/f SEASIDE
building, no. 52 lujiang road, xiamen,
fujian province,
361001 PR CHINA
TEL: 86 (0)
592-2263333 FAX: 86 (0) 592-2033406
EXECUTIVE SUMMARY
INCORPORATION DATE : dec. 6, 2000
REGISTRATION NO. : 350200100002377
REGISTERED LEGAL FORM : SOLE STATE-OWNED ENTERPRISE
STAFF STRENGTH : 200
REGISTERED CAPITAL :
CNY 3,500,000,000
BUSINESS LINE : MANAGING &
INVESTING
TURNOVER : n/a
EQUITIES : n/a
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : FAIRLY LARGE AMOUNT
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : well-known
EXCHANGE RATE : CNY
6.3171 = 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
Note: SC’s correct name should be the heading one.
SC was registered as a sole state-owned enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Dec. 6, 2000.
Company Status: Sole 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. The
shareholders of this form of limited liabilities company are State-owned
Assets Supervision and Administration Commission authorized by the State
Council or local Municipal Government. The
regulation is set up by State-owned Assets Supervision and Administration
Commission, or by the board of directors after approval of State-owned
Assets Supervision and Administration Commission. Sole
state-owned enterprise does not set up board of shareholders, which is
replaced by State-owned Assets Supervision and Administration
Commission. State-owned
Assets Supervision and Administration Commission assign the board of
directors.
SC’s
registered business scope includes state-owned assets operation &
management in the scope authorized by the government; domestic & overseas investment;
real estate development and operation; computer application service industry
(excluding internet service and computer information integration).
SC is mainly
engaged in investing and managing its subsidiaries.
Ms.
Wang Xianrong is legal representative and chairman of SC at present.
SC is known to have approx. 200 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
Xiamen. The detailed information of the premise is unspecified.
http://www.chinacdc.com/ The
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
Email: info@chinacdc.com
SC was ranked as the 119th in China Top 500 Enterprises, the 43rd of
China Top 500 Service Enterprises in 2011, and has been ranking as the first of
the Top 100 Enterprise Groups in Fujian Province consecutively for many
years. SC was also awarded “AAA Credit Enterprise”, “Labor Relationship
Harmonious Enterprise”, etc. “C&D” was awarded “China Famous Brand”.
SC’s predecessor was Xiamen Construction and Development Corp.
MAIN SHAREHOLDERS:
Name %
of Shareholding
State-owned Assets Supervision and Administration
Commission of Xiamen Government 100
Website: http://www.xmgzw.gov.cn/
l
Legal representative and chairman:
Ms. Wang Xianrong, born in 1952, with junior college
education, senior accountant. She is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as legal representative and chairman;
Also working in Xiamen C&D Inc. as vice chairman, in Xiamen Overseas Chinese Electronic Co., Ltd. as director and in Xiamen Huaqiao Electron Enterprise Co., Ltd. & Xiamen Changfuli Trading Co., Ltd. (in Chinese pinyin) as legal representative.
SC is mainly
engaged in investing and managing its subsidiaries.
Main business:
supply chain operations, real estate development, tourism & hotels and
conference & exhibition, etc.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, T/T and Credit of 30-60
days.
Xiamen Huaqiao Electron Enterprise Co., Ltd.
Xiamen Changfuli Trading Co., Ltd. (in Chinese pinyin)
SC is known to invest in the following companies:
Xiamen C&D Inc.
C&D Real Estate Corp. Ltd.
Lianfa Group Co., Ltd.
Xiamen C&D Tourism and Hotels Incorporation
Xiamen
International Conference & Exhibition Group Inc.
Xiamen
International Trust Co., Ltd.
Xiamen Airlines Co., Ltd.
Xiamen International Bank
Xiamen Overseas Chinese Electronic Co., Ltd.
Xiamen Faratronic Co., Ltd.
King Dragon Life Insurance Co., Ltd.
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 banking details.
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 large-sized in its line with favorable background.
Taking into consideration of SC’s general performance, reputation as well as
market conditions, 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.50.57 |
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UK Pound |
1 |
Rs.79.57 |
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Euro |
1 |
Rs.66.50 |
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.