MIRA
INFORM REPORT
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Report Date : |
20.01.2013 |
IDENTIFICATION DETAILS
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Name : |
bellolite
technology shenzhen Ltd. |
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Registered Office : |
5a2, 1-6/F, Bldg. 2, No. 26 District Factory Area, Xin’an, Baoan
District, Shenzhen, Guangdong
Province, 518101 Pr |
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Country : |
China |
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Date of Incorporation : |
15.09.2011 |
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Com. Reg. No.: |
440306503411306 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Subject engaged in assembling and selling LED lights. |
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No. of Employees : |
10 |
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 : |
Yet to commence normal operation |
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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 (31.03.2012) |
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
bellolite technology shenzhen Ltd.
5a2, 1-6/f, bldg. 2, No. 26 district factory
area, xin’an, baoan district, SHENZHEN,
GUANGDONG PROVINCE, 518101 PR CHINA
TEL: 86 (0) 755-26825830 FAX: 86 (0) 755-27805606
EXECUTIVE SUMMARY
INCORPORATION DATE : SEPTEMBER 15, 2011
REGISTRATION NO. : 440306503411306
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED
enterprise
CHIEF EXECUTIVE :
MR. RAHUL GUPTA (CHAIRMAN)
STAFF STRENGTH :
10
REGISTERED CAPITAL : usd 80,000
BUSINESS LINE :
assembling and TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
Not yet determined
MARKET CONDITION : FAIR
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : SUBJECT TO
LONGER PERIOD OF OBSERVATION
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.22 = 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 wholly foreign-owned enterprise at local
Administration for industry & commerce (AIC - the official body of issuing
and renewing business license) on Sep. 15, 2011.
Company Status: Wholly foreign-owned enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered business scope includes design, developing,
manufacturing and selling LED lights and its parts; wholesaling, importing,
exporting LED lights, streetlamp, electronics, toys, gym facilities, handbag,
plastics, hardware and glassware; import and export goods and technology
(excluding goods distribution and special controlled commodities).
SC has not started its normal operation yet. According to the accountant
Ms. Yan of SC, SC is expected to operate in 2013 mainly engaged in assembling
and selling LED lights.
Mr. Rahul Gupta has been legal representative and chairman of SC since
2011.
SC is known to have approx. 10 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the industrial zone of Shenzhen. Our checks
reveal that SC rents the total premise, but SC’s accountant refused to release
the gross area of the premise.
http://www.bellolite.com/
The design is professional and the content is well organized. At present it is
only in English version.
Email: admin@bellolite.com
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
SC has not started its normal operation yet. According to the accountant
Ms. Yan of SC, SC is expected to operate in 2013 mainly engaged in assembling
and selling LED lights.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Rahul Gupta (Indian) 100
Legal
representative, Chairman and General manager:
Mr. Rahul Gupta, Indian, born in 1965 with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 2011 to present Working
in SC as legal representative, chairman and general manager
Vice
chairman and Vice-General manager:
Ms. Xiang Liuling is currently responsible for the daily management of
SC.
Working Experience(s):
At present Working
in SC as vice chairman and vice-general manager.
Supervisor:
Cheng Ruifang
SC has not started its normal operation yet. According to the accountant
Ms. Yan of SC, SC is expected to operate in 2013 mainly engaged in assembling
and selling LED lights.
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.
SC’s management declined to release its bank details.
SC was established in 2011, but has not started its normal operation
yet, so its annual financial reports are not available at present.
Established in 2011, SC has not started its normal operation yet.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.94 |
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|
1 |
Rs.86.24 |
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Euro |
1 |
Rs.72.20 |
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.