MIRA
INFORM REPORT
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Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
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Name : |
PEARL MOUNT INTERNATIONAL LIMITED |
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Registered Office : |
#305b, Lion Garden, Luoxixincheng, Panyu District Guangzhou City, Guangdong Province 511431 Pr |
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Country : |
China |
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Date of Incorporation : |
11.05.2009 |
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Com. Reg. No.: |
1337293 |
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Legal Form : |
Private |
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Line of Business : |
Subject engaged in acting to import and export of Wire Mesh, Cookware
Sets, Chemical Lab Equipments, Plywood, Adhesive Tapes, Computer Accessories,
Garden Tools |
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No. of Employees : |
Not Available |
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 : |
Not Registered in China |
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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
PEARL MOUNT INTERNATIONAL LIMITED
#305B, LION GARDEN, LUOXIXINCHENG, PANYU DISTRICT
GUANGZHOU CITY, GUANGDONG PROVINCE 511431 PR CHINA
TEL: 86 (0) 20-39209670
FAX: 86 (0) 20-34703745
NARRATIVE REPORT
This refers to a type of report whose format is different from that of a
standard report. Such type of report is provided when:
l
Information obtained is insufficient for compiling
a standard report.
l
The enquired co has been out of business or its
business address has been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its
credit standing.
------------------------------------------
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
CHECK ON SC’S REGISTERED
TELEPHONE LINE
²
The given contact
ways are as follows,
TEL: 86 (0)
20-39209670
FAX: 86 (0) 20-34703745
When we dialed the above telephone number, a lady Ms. Wang answered the
phone. She admitted the English name, and told us the Chinese name in
translation is “珍珠峰国际有限公司”. SC is registered
in Hong Kong, and mainly operates in Guangzhou, Guangdong Province PR China.
²
Ms. Wang
introduced the below information,
A.
SC is mainly engaged in acting to import and
export.
B.
The products mainly include:
Wire Mesh
Cookware Sets
Chemical Lab Equipments
Plywood
Adhesive Tapes
Computer
Accessories
Garden Tools
Water Treatment
Equipment
Car Accessories
Scaffoldings
Etc.
C.
SC sources its materials 100% from domestic market.
SC sells 100% to overseas market, mainly India.
D.
SC’s website: www.pearlmountchina.com
E-mail: exportersindia@pearlmount.com
E.
Related Company,
Pearl Mount
Tradelinks Pvt. Ltd.
Address: 88/150, Office
No 15 3rd Floor, Dharma Towers,
Nelson Manickam
Road, Choolaimedu Chennai-600094
Phone:
+91-44-23745974 / 32457474
Other Website: www.pearlmount.com
SPOT VISIT
#305B, Lion
Garden, Luoxixincheng, Panyu District, Guangzhou City, Guangdong Province
511431 PR China
According to Ms. Wang, SC is mainly operating in the above address at
present.
REGISTRATION
During our check with Hong Kong Registry, we found
the following registration about SC,
Company Name: Pearl Mount International Limited
Company File No.: 1337293
Date of Registration: May 11, 2009
Legal Form: Private
Status: Live
CONCLUSIONS
SC is considered small-sized in its line with 4 years business history. Credit
dealings with SC should be confined into C.O.D. to small amount at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.11 |
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|
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 |
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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.