MIRA
INFORM REPORT
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Report Date : |
04.07.2013 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN PRIME-CREDIT CO., LTD. |
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Registered Office : |
A405, |
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Country : |
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Date of Incorporation : |
06.06.2013 |
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Com. Reg. No.: |
440306107419722 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject registered business includes industry
development & domestic commerce. |
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No. of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Business |
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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 & address
Shenzhen Prime-Credit Co., Ltd.
A405, XIANGMIHU BUILDING,
XIANGMEI ROAD, FUTIAN DISTRICT
SHENZHEN, GUANGDONG PROVINCE 518034
PR CHINA
TEL: 86 (0)
755-82315176/13189728339
FAX: 86 (0) 755-82315176
EXECUTIVE SUMMARY
Date of Registration : JUNe 6, 2013
REGISTRATION NO. : 440306107419722
LEGAL FORM : Limited Liability Company
CHIEF EXECUTIVE : wang xueyuan (LEGAL
REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 1,000,000
staff : 2
BUSINESS CATEGORY :
TRADING
Revenue :
N/A
EQUITIES :
N/A
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : Not yet be determined
MARKET CONDITION : currently remains
to be observed
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
NOT
KNOWN
GENERAL REPUTATION : NOT KNOWN
EXCHANGE RATE : CNY 6.14 = 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
LEGAL STATUS & HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 440306107419722 on June 6, 2013.
SC’s Organization Code Certificate
No.: 07111651-0
SC’s Tax No.: 440300071116510
SC’s registered capital: CNY 1,000,000
SC’s paid-in capital: CNY 0
Registration Change Record:-
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
|
Zheng Yanfang |
51 |
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Wang Xueyuan |
49 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative,
Chairman, and General Manager |
Wang
Xueyuan |
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Supervisor |
Zheng
Yanfang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Zheng Yanfang 51
Wang Xueyuan 49
MANAGEMENT
Wang
Xueyuan, Legal
Representative, Chairman and General Manager
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Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Zheng Yanfang, Supervisor
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Ø
Gender: F
BUSINESS OPERATION
SC’s registered business scope includes industry
development, domestic commerce.
Established in
June 2013, SC has not started its normal operation yet.
Staff & Office:
--------------------------
SC is
known to have approx. 2 staff
at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
SC
is not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good ( ) Average ( ) Fair ( ) Poor (X) 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: 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.
BANKING
The bank
information of SC is not filed in SAIC.
FINANCIALS
Established as a new company in 2013, SC’s financials are not available
at present.
CONCLUSIONS
SC was established recently in 2013, and its credit has not been
established yet. Great caution is required in providing credit to SC &
C.O.D. is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.10 |
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UK Pound |
1 |
Rs.91.07 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.