MIRA
INFORM REPORT
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Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
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Name : |
LANZHOU KAILIDA TRADING CO., LTD. |
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Registered Office : |
(No. 1504 Commercial And Residential Building Of Lanzhou Municipal Public Security Bureau), No. 1 Xibei New Village, Chengguan District, Lanzhou City, Gansu Province, 730030 Pr |
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Country : |
China |
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Date of Incorporation : |
27.05.2009 |
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Com. Reg. No.: |
620102200105060 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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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, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 2012 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 under 8% for 2012. An economic slowdown in Europe contributed to China's, and is expected to further drag Chinese growth in 2013. 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
LANZHOU KAILIDA TRADING CO., LTD.
(NO. 1504 COMMERCIAL AND RESIDENTIAL
BUILDING OF LANZHOU MUNICIPAL PUBLIC SECURITY BUREAU), NO. 1 XIBEI NEW VILLAGE,
CHENGGUAN DISTRICT, LANZHOU CITY, GANSU PROVINCE, 730030 PR CHINA
TEL: N/A FAX:
N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
27, 2009
REGISTRATION NO. :
620102200105060
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH :
N/A
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
NOT
YET DETERMINED
MARKET CONDITION : N/A
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : NOT YET DETERMINED
EXCHANGE RATE :
CNY
6.1333 =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 is also known as Lanzhou Kaillida Trade Co., Ltd.
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
May 27, 2009.
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
hardware, ware and cable, electronic tools, electronic machinery, the volume of
cutting tools, instrument and meter, body building apparatus, photographic equipment,
commodities, knitting and textiles, bedclothes, garments, shoes & hats,
dress, arts & crafts, decoration, toy, flower and timber, stationery,
computer software and hardware, packaging materials, office supplies,
stationery commodity, paper, cosmetics, furniture, decoration materials,
building materials, chemical materials and products (the above two items
excluding hazardous products), printing machinery, tool ware, ceramic, leather
products, rubber materials, accessories of automobile and motorcycle, compressor and parts, refrigeration
facilities, bearing, pipe fitting, valve, metal materials, telecommunication
appliances, sound equipment, electronic products, communication appliances (the
above two items excluding ground satellite receiving facilities), jewels; goods
and technology import and export business (excluding the items need special
permit).
Wei
Fengxian is registered as legal
representative, chairman and general manager of SC.
It
is not possible to contact the company directly to obtain further information.
The nature and extent of the company's operations could not be determined and
it could not be confirmed whether the company operates from the Registered
Office address or in another location.
SC is not known to host website of its own at present.
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
There is no record of litigation till now.
MAIN SHAREHOLDER:
Name %
of Shareholding
Zhang Xiaonan 100
l
Legal Representative, Chairman and General Manager:
Wei Fengxian
l
Supervisor:
An Ruitao
From internet, we found the numbers +86-(0)
13399460200 and +86-931-8690456, but both of them went unanswered during office
hours.
Exhausting our efforts, we are unable to find SC’s telephone number in
various information sources, including the internet, yellow pages and telecom
companies.
We are unable to contact SC. Therefore, the nature and
extent of SC’s operations could not be determined.
SC
is not known to have any 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.
The bank
information of SC is not available.
Failing to
contact SC, SC’s financial information is not available.
Despite having exhausted all our effort, we are unable to contact SC. If further contact details of SC can be
provided, we will definitely continue this research.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.92.97 |
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Euro |
1 |
Rs.80.95 |
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 |
-- |
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.