MIRA
INFORM REPORT
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Report Date : |
26.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ARAMYS DIFFUSION CO., LTD. |
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Registered Office : |
Room A01, 15/F, Zhongnong Xin Building, No. 181, Zhongshan East Road,
Haishu District, Ningbo, Zhejiang Province, 315000 Pr |
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Country : |
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Date of Incorporation : |
26.02.2008 |
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Com. Reg. No.: |
01423 |
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Legal Form : |
Branch office of foreign enterprises |
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Line of Business : |
Import and export trade business liaison for its parent
company. |
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No. of Employees : |
6 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Branch office of foreign enterprises |
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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 (31.03.2011) |
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 and Address
ARAMYS
DIFFUSION CO., LTD. NINGBO OFFICE
ROOM A01, 15/F, ZHONGNONG XIN BUILDING, NO. 181,
ZHONGSHAN EAST ROAD, HAISHU DISTRICT, NINGBO, ZHEJIANG PROVINCE, 315000 PR
CHINA
TEL: 86 (0) 574-87277079/87873998 FAX:
86 (0) 574-87278068
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEB. 26, 2008
REGISTRATION NO. : 01423
REGISTERED LEGAL FORM : BRANCH
OFFICE OF FOREIGN ENTERPRISE
CHIEF EXECUTIVE : GUO XUE (PRINCIPAL)
STAFF STRENGTH : 6
REGISTERED CAPITAL : N/A
BUSINESS LINE :
LIAISON SERVICE
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : NOT YET
DETERMINED
MARKET CONDITION : FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.2305 = 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 complete name should be the heading one.
SC was registered as a Branch
office of foreign enterprise at
local Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Feb. 26, 2008.
Company Status:
Branch office of foreign enterprise Under the Company Law of the PR
China, foreign business entities are permitted to establish branch office
and carry out business activities in PR China with the approval of relevant
authorities. Branch office does not have legal person or limited
liabilities status. In actuality, PR China government still has significant
restrictions on the type of businesses allowed to establish such branch offices,
especially those engaged in trading, in order to maintain government
control over the import & export system.
SC’s registered business scope includes import and export trade business
liaison for its parent company.
SC’s
main business is providing import and export trade business liaison for its
parent company.
Guo Xue is
principal 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 Ningbo. But the detailed information about the premise is unspecific.
SC is not known to host website of its own at present.
No significant events or changes were found during our checks with local
AIC.
Parent Company:
Aramys Diffusion Co., Ltd. (Tunisia)
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Principal:
Guo Xue is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as principal.
SC’s main business is providing import and export trade business liaison for its parent company.
SC is not known to have the subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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: N/A
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 refused to
release its banking information.
As a branch office of foreign enterprise, SC is not allowed to engage in direct business.
All its expenses are supposed to be provided by its parent company. Therefore,
its financial information is not available.
SC is a branch office of foreign enterprise, which is not engaged in
direct business.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.34 |
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1 |
Rs.88.30 |
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Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.