MIRA
INFORM REPORT
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Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
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Name : |
Hello Lighting Co., ltd. |
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Registered Office : |
Room 506, Building
1, 2nd Industrial Area, Zhuguang Village, Xili Town, Nanshan
District, Shenzhen City, Guangdong 518055 |
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Country : |
China |
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Date of Incorporation : |
21.12.2010 |
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Com. Reg. No.: |
1543105 |
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Legal Form : |
Private |
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Line of Business : |
Subject is mainly engaged in trading of
LED lights, TFT, LCM, AV-VGA, etc. |
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No. of Employees : |
5 Employees |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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.
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Source : CIA |
Company Name and Address
HELLO LIGHTING CO., LTD.
ROOM 506, BUILDING
1, 2ND INDUSTRIAL AREA, ZHUGUANG VILLAGE, XILI TOWN, NANSHAN
DISTRICT, SHENZHEN CITY, GUANGDONG 518055 PR CHINA
TEL: 86
(0) 13530263843/755-25845636 FAX: 86(0)755-86150658
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.
The provided telephone & fax numbers are:
86 755 25845636
& 86 755 86150658
During the course of our investigation, repeated
calls made to the above telephone numbers were not answered on all occasions
during office hours.
We found another telephone number: 86 13530263843 from SC’s website http://www.hello-lighting.net/.
When we dialed the number, Mr. Luo answered.
He confirmed the given company name and released the following information:
SC’s
correct name should be Hello Lighting Co., Ltd.
SC is registered in
Hong Kong and operating in Shenzhen, mainland China.
SC is mainly engaged in trading of LED
lights, TFT, LCM, AV-VGA, etc.
SC is known to have approx. 5 employees in
Shenzhen, mainland China at present.
Mr. Luo also confirmed that
the given phone & fax numbers belong to SC. Because it’s China’s Spring
Festival, no person working in the office now.
According to the Chinese name,
investigations were made with Shenzhen
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license); however, no record was found.
In HK Company Registry, we found the
following registration information on SC:
Hello Lighting Co., Limited
Incorporation Date :
Dec. 21, 2010
Registration No. : 1543105
Registered Legal Form : Private
Active Status : Live
www.hello-lighting.net The design is
professional and the content is well organized. At present it is in English
version.
www.hello-lighting.com The design is
professional and the content is well organized. At present it is in Chinese and
English versions.
Email:
sales02@hello-lighting.com, sales03@hello-lighting.com
According to Mr. Luo, the heading address is SC’s operating address.
Mr. Luo also disclosed that SC has
another office on Floor 2, Building 6, Baisheng Industrial Park, Xili Town,
Nanshan District, Shenzhen City, Guangdong, 518055 PR China
In view of our investigation results, SC is not registered mainland China. It is registered in Hong Kong, while operating in Shenzhen, mainland China. Caution is advised related to dealings with persons claiming to represent such an entity, and C.O.D. is recommended.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.57 |
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1 |
Rs.84.25 |
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Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.