MIRA
INFORM REPORT
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Report Date : |
02.11.2012 |
IDENTIFICATION DETAILS
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Name : |
SICHUAN BIWIN IMP-EXP TRADE CO., LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
11.03.2010 |
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Com. Reg. No.: |
510100000135891 |
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Legal Form : |
Limited Liabilities
Company |
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Line of Business : |
Subject is
engaged in import and export business include medical
equipment, optical cable, agricultural and sideline products, machinery and
equipment, etc. |
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No. of Employees : |
06 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
SICHUAN BIWIN IMP-EXP tRADE Co., Ltd.
NO. 59 JINJI SOUTH ROAD, WUHOU DISTRICT,
CHENGDU,
SICHUAN PROVINCE, 610041 PR CHINA
TEL: 86 (0) 28-85590010 FAX:
86 (0) 28-85080579
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 11, 2010
REGISTRATION NO. : 510100000135891
REGISTERED LEGAL
FORM : LIMITED LIABILITIES
COMPANY
STAFF STRENGTH : 6
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE : TRADING
TURNOVER : N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : n/a
OPERATIONAL TREND :
fairly steady
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.24= 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: the “4/F, Building 12,
SC was registered as a Limited Liability Company at local Administration for industry & commerce (AIC - the official body of issuing and renewing business license) on Mar. 11, 2010.
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 trade brokers and agents; import and export of
goods; selling mechanical equipment, electronic products, electrical and
mechanical hardware, stationery, daily necessities, computer software and
auxiliary equipment, steel, communication equipment, cable, optical cable and
hardware accessories; electronic equipment development, research, sales,
installation; freight forwarders; selling medical devices III: medical
electronic equipment, medical X ray equipment, emergency room, operation room,
medical laboratory equipment and apparatus, medical ultrasound equipment and
related equipment, medical optical equipment, instruments and endoscopic
equipment, medical high-frequency equipment, physical therapy and
rehabilitation equipment, medical magnetic resonance equipment, medical high
energy ray equipment, clinical analysis instrumentation (excluding in vitro
diagnostic reagents), extracorporeal circulation and blood processing
equipment; II: medical X ray equipment and ancillary components; medical
laboratory equipment and infrastructure. (with
permit if needed)
SC is mainly
engaged in import and export business.
Mr. Zhou Banghua is the legal representative and chairman of SC at present.
SC is
known to have approx. 6 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Chengdu. SC’s
management declined to release detailed information of the premise.
http:/www.biwin-cn.cn/ The design
is professional and the content is well organized. At present it is in Chinese
version.
Email: wmm458@163.com
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhou Banghua 40
Wang Mingming 60
Legal
representative and chairman:
Mr. Zhou Banghua is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as legal representative and chairman
SC is mainly
engaged in import and export business.
SC’s products
mainly include medical equipment, optical cable, agricultural and sideline
products, machinery and equipment, etc.
SC sources its merchandise 50%
from domestic market and 50% from overseas market. SC sells 40% of
its products to overseas market, and 60% in domestic market.
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.
SC
is not known to have any subsidiary at present.
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 its bank details.
SC’s management
declined to release any financial information.
SC is considered small-sized in its line with a short development
history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.79 |
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UK Pound |
1 |
Rs.86.77 |
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Euro |
1 |
Rs.69.71 |
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.