MIRA
INFORM REPORT
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Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
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Name : |
JIANGSU PROVINCIAL TRANSPORTATION ENGINEERING GROUP CO.,
LTD. |
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Registered Office : |
No. 55 Dongwu Road, Zhenjiang, Jiangsu Province 212003 Pr |
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Country : |
China |
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Date of Incorporation : |
09.02.1988 |
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Com. Reg. No.: |
320000000047268 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
Engaged in undertaking overseas engineering and international bidding engineering, etc. |
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No. of Employees : |
3,339 (Including Sc’s Branches) |
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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 : |
Regular |
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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.
Source : CIA
Company name and address
JIANGSU PROVINCIAL TRANSPORTATION ENGINEERING GROUP CO.,
LTD.
NO. 55 DONGWU ROAD, ZHENJIANG, JIANGSU PROVINCE 212003 PR CHINA
TEL: 86 (0) 511-88823167/88817285
FAX: 86 (0) 511-88822995
EXECUTIVE SUMMARY
Date of Registration : FEBRUARY 9, 1988
REGISTRATION NO. : 320000000047268
LEGAL FORM : ONE-PERSON Limited liabilities company
REGISTERED CAPITAL : CNY 301,000,000
staff :
3,339 (INCLUDING SC’S BRANCHES)
BUSINESS CATEGORY : ENGINEERING
Revenue :
N/A (AS
OF DEC. 31, 2011)
EQUITIES :
N/A (AS
OF DEC. 31, 2011)
WEBSITE : www.jteg.cn
E-MAIL : jtec@jtec.net.cn
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.29 = USD 1
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 320000000047268 on February 9,
1988.
SC’s Organization Code Certificate No.:
13475984-8
SC’s registered capital: CNY 301,000,000
SC’s paid-in capital: CNY 301,000,000
Registration Change Record:-
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Jiangsu Jiaogong Investment Co., Ltd. |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and Chairman |
Zhong Yizheng |
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Vice Chairman and General Manager |
Wan Xichun |
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Director |
Ding Hengguang |
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Zhang Xiaoyu |
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Liu Guocheng |
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Gong Wanbin |
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Wang Chunhua |
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Ju Jinhu |
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Fu Yuluo |
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Lu Yongxiang |
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Luo Gang |
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Supervisor |
Ma Zhongping |
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Fan Yuancheng |
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Li Hongbin |
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Wu Gang |
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Zhang Sui |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Jiangsu Jiaogong Investment Co., Ltd. 100
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Registration No.: 320000000098331
MANAGEMENT
Zhong Yizheng ,
Legal Representative and Chairman
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Ø
Gender: M
Ø
ID# 321102521021001
Ø
Age: 60
Ø
Working
experience (s):
At present, working in SC as legal representative and
chairman
Wan Xichun , Vice
Chairman and General Manager
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Ø
Gender: M
Ø
Working
experience (s):
At present, working in SC as vice chairman and
general manager
Director
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Ding Hengguang
ID#321102531111193
Zhang Xiaoyu ID#340104710215151
Liu Guocheng ID#321102700715191
Gong Wanbin ID#610113690427047
Wang Chunhua ID#320211197204273278
Ju Jinhu ID#321102196912231911
Fu Yuluo ID#430103691002105
Lu Yongxiang ID#321102195612271933
Luo Gang ID#610113680625049
Supervisor
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Ma Zhongping ID#321102570518191
Fan Yuancheng ID#321102560804005
Li Hongbin ID#321102640825191
Wu Gang ID#321102195511130015
Zhang Sui ID#320802600104201
BUSINESS OPERATION
SC’s registered business
scope includes undertaking overseas engineering and international bidding
engineering; exporting equipment and materials needed by overseas engineering;
dispatching labors; installing and repairing hoisting machinery; civil
engineering survey & design & construction; providing construction
equipment services; manufacturing general machinery; manufacturing and
installing metal structure; installing and repairing hoisting machinery;
processing and selling building materials (limited to operate by its branches);
renting material object; and engineering survey & design &
construction.
SC is mainly
engaged in undertaking overseas engineering and international bidding
engineering, etc.
SC’s engineering
mainly includes:
Road Engineering
Bridge Engineering
Harbor Engineering
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.
Staff & Office:
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SC is known
to have approx. 3,339 staff
(including SC’s branches) at present.
SC owns an area as
its operating office, but the detailed information is unknown.
RELATED COMPANY
SC is known to have the
following subsidiaries and branches at present,
Jiangsu
Kaitong Construction Engineering Co., Ltd.
Jiangsu
Baichuan Harbor Engineering Co., Ltd.
Jiangsu
Baixing Waterway Engineering Co., Ltd.
Jiangsu
Pingshan Transportation Facilities Co., Ltd.
Bairun
Engineering Check Co., Ltd.
Zhenjiang
Hongkai Labor Service Co., Ltd.
Jiangsu
Zhucheng Construction Industry Co., Ltd.
Nanjing
Su’ao Bridge Parts Co., Ltd.
Jiangsu
Baigu Steel Structure Co., Ltd.
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Zhenjiang Pavement Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Equipment Renting Co.,
Ltd.
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Hunan Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Lianyungang Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Xiamen Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Jinan Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Suzhou Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. 1st Machinery
Factory
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Tianjin Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Harbin Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Xuanwu Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Nanjing Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Zhenjiang Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Nanjing Jiangning Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Shanghai Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Qingdao Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Chengdu Branch
Jiangsu
Provincial Transportation Engineering Group Co., Ltd. Nanjing Pukou Branch
Etc.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
The bank
information of SC is not filed in local SAIC.
FINANCIALS
SC’s financials are not filed in local SAIC, and SC also refused to
release the details.
CONCLUSIONS
SC is considered large-sized in its line with 24 years business history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.07 |
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1 |
Rs.84.95 |
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Euro |
1 |
Rs.68.24 |
INFORMATION DETAILS
|
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.