|
Report Date : |
26.07.2013 |
|
el. No.: |
86 75583209424 |
|
Fax No.: |
86 75588351195 |
IDENTIFICATION DETAILS
|
Name : |
SUNODA INTERNATIONAL GROUP LIMITED |
|
|
|
|
Registered Office : |
Room 5b, Building 213 Terra Industrial Park, Chegongmiao Futian
District, Shenzhen, Guangdong Province 518000 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
14.03.2013 |
|
|
|
|
Com. Reg. No.: |
1874829 |
|
|
|
|
Legal Form : |
Private |
|
|
|
|
LINE OF BUSINESS : |
SUBJECT
ENGAGED IN EXPORTING MOBILE PHONE |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Not Registered in China |
|
Payment Behaviour : |
-- |
|
Litigation : |
-- |
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) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
SUNODA INTERNATIONAL GROUP LIMITED
ROOM 5B, BUILDING 213 TERRA INDUSTRIAL PARK, CHEGONGMIAO
FUTIAN DISTRICT, SHENZHEN, GUANGDONG PROVINCE 518000 PR CHINA
TEL: 86 (0) 755-83209424/88351189
FAX: 86 (0) 755-88351195
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.
------------------------------------------
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
²
The contact ways
clients provided are as follows,
Tel: 86 (0)
755-83209424
Fax: 86 (0)
755-88351195
When we dialed the above telephone number (86 (0) 755-83209424), no one
answered the phone. According to SC’s website (www.jeedsnd.com), we found SC’s other
telephone number (86 (0) 755-88351189). We dialed this number, a lady answered
the phone. He told us SC’s complete name should be the above heading one (Sunoda
International Group Limited), and its Chinese name in translation is
“胜诺达国际集团有限公司”,
which is registered in Hong Kong, but operates in Shenzhen, Guangdong Province,
mainland China.
²
The lady
introduced the below information,
A.
SC is mainly engaged in exporting mobile phone.
B.
The products mainly include: “Jeed” brand mobile
phone.
C.
SC sources its products 100% from domestic market,
mainly Guangdong. SC sells 100% of its products to overseas market.
D.
The group is involved in four companies, as follow,
Shenzhen Kinoda
Technology Co., Ltd. (Factory)
Web: www.jeed.com.cn
Shenzhen Sunoda
Communication Technology Co., Ltd. (Trading Company)
Shenzhen Jeed
Weiye Communication Technology Co., Ltd. (Trading Company)
Huizhou Sunoda
Communication Co., Ltd. (Factory)
Room 5B, Building
213 Terra Industrial Park, Chegongmiao, Futian District, Shenzhen, Guangdong
Province 518000 PR China
According to the lady, SC locates in the heading address at present.
During our check with Hong Kong Registry, we found
the following registration information about SC,
Company Name: Sunoda International Group Limited
Company File No.: 1874829
Date of Registration: March 14, 2013
Legal Form: Private
Status: Live
A research was conducted with Shenzhen municipal and Huizhou
municipal State Administration of Industry & Commerce (SAIC-the official
body of issuing and renewing business license), and the registration
information for the group members is as follows,
l
Shenzhen Kinoda Technology Co., Ltd.
Registration No.: 440301105194637
Date of Registration: January 28, 2011
Legal Form: Limited Liabilities Company
Registered Capital: CNY 30,000,000
Legal Representative: Chen Guangsong
l
Shenzhen Sunoda Communication Technology Co., Ltd.
Registration No.: 440301106569000
Date of Registration: September 19, 2012
Legal Form: Limited Liabilities Company
Registered Capital: CNY 30,000
Legal Representative: Zhang Yefang
l
Shenzhen Jeed Weiye Communication Technology Co.,
Ltd.
Registration No.: 440301105617813
Date of Registration: August 4, 2011
Legal Form: Limited Liabilities Company
Registered Capital: CNY 1,000,000
Legal Representative: Yang Chan
E.
Huizhou Sunoda Communication Co., Ltd.
Registration No.: 441300000149802
Date of Registration: May 16, 2011
Legal Form: Limited Liabilities Company
Registered Capital: CNY 50,000,000
Legal Representative: Chen Guangsong
SC is considered medium-sized in its line, and credit dealings with SC
should be confined into moderate amount at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.94 |
|
|
1 |
Rs.90.47 |
|
Euro |
1 |
Rs.77.86 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
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 |
|
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 |
|
<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.