MIRA
INFORM REPORT
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Report Date : |
12.01.2013 |
IDENTIFICATION DETAILS
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Name : |
CHINA NATIONAL BUILDING MATERIALS & EQUIPMENT IMPORT & EXPORT CORPORATION |
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Registered Office : |
17-21/F, Block 4, Interwest Business Center, No. 9 Shouti
South Road Haidian District, Beijing 100044 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.02.1994 |
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Com. Reg. No.: |
110000005021759 |
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Legal Form : |
State-Owned Enterprise |
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Line of Business : |
International Trade mainly include building materials &
non-metallic materials, equipment & engineering, etc. |
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No. of Employees : |
160 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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.
Source
: CIA
Company name and address
CHINA NATIONAL BUILDING MATERIALS & EQUIPMENT IMPORT & EXPORT CORPORATION
17-21/F, BLOCK 4, INTERWEST BUSINESS CENTER, NO. 9 SHOUTI SOUTH ROAD
HAIDIAN DISTRICT, BEIJING
100044 PR CHINA
TEL: 86 (0) 10-68796666
FAX: 86 (0) 10-68796688
EXECUTIVE SUMMARY
Date of Registration : february 8, 1994
REGISTRATION NO. : 110000005021759
LEGAL FORM : STATE-OWNED ENTERPRISE
REGISTERED CAPITAL : cny 900,000,000
staff :
160
BUSINESS CATEGORY : trading
Revenue :
CNY 39,938,384,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 2,581,491,000 (AS OF DEC. 31, 2011)
WEBSITE : www.cnbminternational.com
E-MAIL :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly good
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : fairly good
EXCHANGE RATE :
CNY 6.23 = USD 1
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
Note: The given telephone No. (0086-21-63230088,
63215231/0086-15221378044/0086-21-63215317) belongs to SC’s subsidiary-China
National Building Materials & Equipment Import & Export Shanghai
Company
SC was established
as a state-owned enterprise of PRC with State Administration of Industry &
Commerce (SAIC) under registration No.: 110000005021759 on February 8, 1994.
SC’s Organization Code Certificate No.:
10205238-9
SC’s registered capital: cny 900,000,000
SC’s paid-in capital: cny 900,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registration No. |
1100001502175 |
110000005021759 |
|
Registered
Capital |
CNY 400,000,000 |
cny 900,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
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China National Building Material Group
Corporation |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Huang Anzhong |
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Deputy General Manager |
Wu Jian |
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Wu Suhua |
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|
Han Weiqing |
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|
Zhang Jinsong |
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|
Wu Xiang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
China National Building Material Group Corporation 100
==========================================
Date of Registration: September 28, 1981
Registration No.: 100000000000485
Legal Form: Sole
state-owned enterprise
Registered Capital: CNY 4,331,220,000
Address: No. 2 Zizhuyuan South Road, Haidian
District, Beijing
Tel: 86 (0) 10-88416688
Web: www.cnbm.com.cn
MANAGEMENT
Huang Anzhong , Legal Representative, Chairman and General
Manager
---------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 50
Ø
Qualification:
University
Ø
Working
experience (s):
From 1994
to present, working in SC as legal representative, chairman and general manager
Wu Jian , Deputy
General Manager
-------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as deputy general manager
Wu Suhua , Deputy
General Manager
------------------------------------------------------------
Ø
Gender: F
Ø
Age:
Ø
Qualification:
University
Ø
Working
experience (s):
From 1994 to present, working in SC as deputy general
manager
Han Weiqing , Deputy General Manager
----------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as deputy general manager
Zhang Jinsong , Deputy
General Manager
------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as deputy general manager
Wu Xiang , Deputy
General Manager
---------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as deputy general manager
BUSINESS OPERATION
SC’s registered business scope includes importing and exporting
commodities & technologies; processing with imported materials, processing
with imported samples, assembling with imported parts, and compensation trade
in agreement; counter trade & transit
trade; selling building materials, non-ferrous metal, auto components, hardware,
minerals, hardware, chemicals,
machinery, tool parts, apparatus & instruments, timber, paper,
native products, groceries, and light industry textile products; indoor &
outdoor decoration and design; technical development, consultation, and staff
training; organizing exhibition; information consultation; undertaking overseas
engineering of building materials, and international bidding engineering;
exporting equipment and materials needed by the above overseas engineering;
dispatching labour; and internet information services.
SC is mainly
engaged in international trade.
SC’s products
mainly include: building materials & non-metallic materials, equipment
& engineering, etc.
SC sources its materials 60% from domestic market, mainly Beijing and Shanghai, and 40% from overseas market, mainly India, Brazil, and Argentina. SC sells 80% to overseas market, and 20% in domestic market, mainly Beijing.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
*Major Customers:
==============
China National Building Material Group
Corporation
Orenco Systems Inc.
*Major Suppliers:
==============
TATA INC. Brazil
ESSAR INC. Brazil
Staff & Office:
--------------------------
SC is known
to have approx. 160 staff at
present.
SC owns an area as
its operating office of approx. 2,500 sq. meters at the heading address.
RELATED COMPANY
SC is known to have 10
subsidiaries at present,
n
CNBM Information Technology Co., Ltd.
n
Shanghai Jianpu Import & Export Co., Ltd.
n
China National Building Materials & Equipment Import & Export
Shanghai Company
n
CNBM Wood Trade Co., Ltd.
n
CNBM International Trade Co., Ltd.
n
CNBM Iron and Steel Trade Co., Ltd.
n
CNBM International Engineering Co., Ltd.
n
China National Building Material Company Limited
n
Beijing New Building Material (Group) Co., Ltd.
n
CNBM New Energy Engineering Co., Ltd.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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: SC’s suppliers
declined to make any comments.
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.
BANKING
Basic Bank:
Industrial and
Commercial Bank of China Baiwanzhuang Sub-branch
AC#: 0200001409004107867
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
Long term investment |
2,843,084 |
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Total assets |
6,979,837 |
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------------- |
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Total
liabilities |
4,398,346 |
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Equities |
2,581,491 |
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------------- |
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Revenue |
39,938,384 |
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Profit before
tax |
768,941 |
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Less: profit tax |
22,683 |
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Profits |
746,258 |
Note: The detailed financials for Y2011 are not available in SAIC.
Important Ratios
=============
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As
of Dec. 31, 2011 |
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*Liabilities
to assets |
0.63 |
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*Net profit
margin (%) |
1.87 |
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*Return on
total assets (%) |
10.69 |
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*
Revenue/Total assets |
5.72 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is fairly good.
LIQUIDITY: FAIRLY
GOOD
l
SC’s revenue is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly Good.
CONCLUSIONS
SC is considered large-sized in its line with fairly good financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
|
1 |
Rs.88.05 |
|
Euro |
1 |
Rs.72.29 |
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 |
|
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 |
|
-- |
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.