MIRA INFORM REPORT
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Report Date : |
29.08.2013 |
IDENTIFICATION DETAILS
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Name : |
CHENGDU BACON LEATHER
INSTITUTE |
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Registered Office : |
Room 113, Unit 1, No. 12 Building, No. 6, Fangcao Street, Gaoxin District, Chengdu City, Sichuan Province 610041 Pr. |
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Country : |
China |
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Date of Incorporation : |
05.05.1999 |
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Com. Reg. No.: |
510109000176725 |
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Legal Form : |
Shares Jointly Owned Enterprise |
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Line of Business : |
Researching, developing and selling leather chemical materials; selling leather raw materials and products (except country have special provisions); treating leather, leather products, finishing; technical advice; importing and exporting all kinds of commodities and technologies, except the goods and technology country limited or prohibit importing and exporting. |
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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 : |
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, 2013
|
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
CHENGDU
BACON LEATHER INSTITUTE
ROOM 113, UNIT 1, NO. 12 BUILDING, NO. 6,
FANGCAO STREET,
GAOXIN DISTRICT, CHENGDU CITY, SICHUAN
PROVINCE 610041 PR CHINA (REGISTERED
ADDRESS)
TEL: N/A FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 5, 1999
REGISTRATION NO. : 510109000176725
REGISTERED LEGAL FORM : SHARES JOINTLY OWNED ENTERPRISE
STAFF STRENGTH :
N/A
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
N/A
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
6.12 = 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 shares jointly owned enterprise
at local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on May 5, 1999.
Company Status: Shares
Jointly Owned This form of business in PR
China is defined as a legal person whose registered capital is mostly or
wholly raised by the staff members of the enterprise. Its shareholders
consist of at least 8 staff members, and the staff members that are not
shareholders should be less than 10% of the total staff members.
It operates as a cooperative, under democratic management, paying
salaries according to the achievements of staff members and distributing
its profit according the shares owned.
SC’s registered business scope includes researching, developing and
selling leather chemical materials;
selling leather raw materials and
products (except country have special provisions); treating leather,
leather products, finishing; technical advice; importing and exporting
all kinds of commodities and technologies, except the goods and technology
country limited or prohibit
importing and exporting.
Mr. Lv Xin is registered as legal representative 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 have website of its own at present.
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Registration no. |
5101092000486 |
Present one |
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Registered Capital |
CNY 100,000 |
Present amount |
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Shareholders |
Lv Xin Lv Xuyong Zeng Ting |
Present ones |
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Lv Xin
75
Zeng Ting 25
l
Legal representative:
Mr. Lv Xin ID# 110101196202264579, born in 1962, with university
education
l Supervisor:
Ms. Zeng Ting
We dialed the
numbers 028-85553597/85182500 found from the internet, but the persons who
answered the phone said they never heard of SC.
Repeated calls made to the tel. no. 028-85182623 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.
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.
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.
We did not find
SC’s bank information.
We can’t contact
SC, so the financial reports are unavailable.
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.68.36 |
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|
1 |
Rs.106.03 |
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Euro |
1 |
Rs.91.47 |
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.