MIRA
INFORM REPORT
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Report Date : |
04.09.2012 |
IDENTIFICATION DETAILS
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Name : |
GUANGZHOU GROWLINK TRADE
CO., LTD. |
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Registered Office : |
Room 1005, No. 1003, West Zhongshan Street, Tianhe District, Guangzhou, Guangdong Province 510630 Pr |
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Country : |
China |
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Date of Incorporation : |
16.06.2007 |
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Com. Reg. No.: |
4401062038580 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
International trade mainly include agricultural chemicals, fertilizer, etc. |
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No. of Employees : |
5 |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
GUANGZHOU GROWLINK TRADE CO., LTD.
ROOM 1005, NO.
1003, WEST ZHONGSHAN STREET, TIANHE DISTRICT,
GUANGZHOU,
GUANGDONG PROVINCE 510630 PR CHINA
TEL: 86 (0) 20-38628243 FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : JUN. 16, 2007
REGISTRATION NO. :
4401062038580
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH :
5
REGISTERED CAPITAL : CNY 100,000
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
6.34 =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
SC was registered as a One-person Limited Liability Company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Jun. 16, 2007.
Company Status:
One-person Limited Liability Company Single person LLC refers to a limited liability company
set up by only one natural person or legal person as the single shareholder
of it. The minimum registered capital of Single person LLC is
CNY100,000. The shareholder’s capital contributes, as set out by the articles
of associations should be a lump-sum payment in full. One natural person can only invest in and set up one
limited liability company, which is not permitted to invest in and set up a
new Single person LLC. As to any one-person limited liability company, the
sole-investor nature of the natural person or legal person shall be
indicated in the registration documents of the company and shall be
indicated in the business license thereof as well. The regulation of Single person LLC should be set up by
the shareholder The regulation of Single person LLC has no shareholder
meeting.
SC’s registered business scope includes wholesaling and retailing trade;
importing and exporting commodities and technologies. (with permit if needed)
SC is mainly engaged in international trade.
Ning
Xiaoyan is the legal representative,
chairman and general manager of SC at present.
SC is known
to have approx. 5 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in Guangzhou. The detailed premise information is
unknown.
SC is not known to host web site of its own at present.
Email: sully5586@163.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDER:
Name % of Shareholding
Ning Xiaoyan 100
l
Legal Representative, Chairman and General Manager:
Ning Xiaoyan is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman
and general manager.
Note: The given contact person Sully Chen is SC’s
employee.
SC is mainly engaged in international trade.
SC’s products mainly include: agricultural chemicals,
fertilizer, etc.
SC sources its
materials 60% from domestic market and 40% from overseas market. SC sells 70%
of its products in domestic market and 30% to overseas market.
The buying terms of SC include Check, T/T, L/C, and Credit of 30-60 days.
The payment terms of SC include T/T, L/C, Check and Credit of 30-60 days.
Note: SC declined
to release its major suppliers and clients.
SC is not known to have the 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.
The banking
information of SC is unknown.
SC’s management declined to release any financial information.
Investigations were made with the local AIC, but the financial records
were not available.
SC is considered small-sized in its line with a development history of 5
years. Due to lack of financial status, we are unable to recommend accurate
credit limit for SC.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.45 |
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1 |
Rs.87.98 |
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Euro |
1 |
Rs.69.69 |
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.