MIRA INFORM REPORT
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Report Date : |
21.08.2013 |
IDENTIFICATION DETAILS
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Name : |
POWERLIFE NUTRITION CO., LIMITED |
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Registered Office : |
Str. 536, Longhua, Bao'an District Shenzhen, Guangdong Province
518100 Pr |
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Country : |
China |
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Date of Incorporation : |
14.01.2011 |
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Legal Form : |
Private |
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Line of Business : |
Subject is engaged in selling API and intermediate. |
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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.
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Source
: CIA |
company name and address
POWERLIFE NUTRITION CO., LIMITED
STR. 536, LONGHUA, BAO'AN DISTRICT SHENZHEN, GUANGDONG PROVINCE 518100
PR CHINA
TEL: 86 (0) 18813915858
FAX: N/A
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:
Information obtained is insufficient for compiling a standard report.
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
The contact way
clients provided is as follows,
Tel: 86 (0)
18813915858
When we dialed the above telephone number, a gentleman answered the
phone. He admitted the given English name, but refused to release the Chinese
name and other information for SC.
According to
information from internet sources,
SC is mainly engaged in selling API and intermediate.
The products mainly include:
+ Hormone/Steroid
+ Testosterone Series
+ Trenbolone/Methenolone Series
+ Drostanolone/Boldenone Series
+ Nandrolone Series
+ Peptide/APIS
+ Finished product
+ Others Series
SC sources its products 100% from domestic market SC sells 100% of its
products to overseas market.
SC’s website: www.plnutritionltd.com
We contacted SC on
August 19, 2013,
We dialed the given mobile phone number again, a gentleman answered the
phone, but still refused to release any information for SC this time.
According to the given contact person (Mr. Sanhong Y. Liu), we found the
related company- Wuhan Powerlife Nutrition Trade Co., Ltd. registered in Wuhan,
Hubei Province, mainland China.
SPOT VISIT
Str. 536, Longhua,
Bao'an District, Shenzhen, Guangdong Province 518100 PR China
The gentleman admitted the above, but he refused to release if SC
operates there.
REGISTRATION
During our check with Hong Kong Registry, we found the similar name, and
the information is as below,
Company Name: Powerlife
Nutrition Co., Limited
Company File No.: 1552050
Date of
Registration: January 14, 2011
Legal Form: Private
Status: Live
Careful investigations were made with Wuhan municipal
and Hubei Provincial Administration for Industry and Commerce (SAIC - The
official body of issuing and renewing business license), however, we found the following registration information,
---------------------------------------------------
Wuhan Powerlife Nutrition Trade Co., Ltd.
Registration No.: 420106000250336
Date of Registration: June 27, 2012
Legal Form: Limited Liabilities Company
Registered Capital: CNY 1,000,000
Legal Representative: Sanhong Liu
Business Scope: Wholesaling and retailing electronic products and
household appliance.
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
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Legal Representative |
Yi Yu |
Sanhong Liu |
CONCLUSIONS
Based on the investigations performed, it has not been possible to
prepare a normal credit report on the company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.73 |
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|
1 |
Rs.99.78 |
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Euro |
1 |
Rs.85.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.