MIRA
INFORM REPORT
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Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN FORME TECHNOLOGY CO., LTD. |
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Registered Office : |
1-5/F, North Block, Building 1, Meitai Industrial Park, Guanguang Road, Guanlan Town, Baoan District, Shenzhen, Guangdong Province 518000 Pr |
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Country : |
China |
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Date of Incorporation : |
14.10.2009 |
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Com. Reg. No.: |
440306104312253 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
manufacturing and selling of communications
products production, sales and technology development; general cargo;
domestic trade, import and export of goods and technology. |
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No. of Employees : |
71 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 FORME TECHNOLOGY CO., LTD.
(trade
name: Forme Communications Technology Limited)
1-5/F, NORTH BLOCK, BUILDING 1, MEITAI
INDUSTRIAL PARK
GUANGUANG ROAD, GUANLAN TOWN,
BAOAN DISTRICT, SHENZHEN
GUANGDONG PROVINCE 518000 PR
CHINA
TEL: 86 (0) 755-25267521
FAX: 86 (0) 755-25261087
EXECUTIVE SUMMARY
Date of Registration : OCTOBER 14, 2009
REGISTRATION NO. : 440306104312253
LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE : jiang jianyang (LEGAL
REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 1,000,000
staff : 71
BUSINESS CATEGORY :
manufacturing & trading
Revenue : N/A (AS OF DEC. 31, 2012)
EQUITIES :
N/A (AS OF DEC. 31, 2012)
WEBSITE : www.szforme.com
E-MAIL :
N/A
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION : average
EXCHANGE RATE : CNY 6.15 = 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’s name should be the heading one, while Forme
Communications Technology Limited (the given name) is SC’s related company
registered in Hong Kong, and SC also uses this name as its trade name.
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 440306104312253 on October
14, 2009.
SC’s Organization Code Certificate
No.: 69559297-X
SC’s Tax No.: 44030069559297X
SC’s registered capital: cny 1,000,000
SC’s paid-in capital: cny 1,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2010-1-11 |
Shareholder (s) (% of
Shareholding) |
Zhang Yiming 1% Jiang Beiyue 1% Jiang Jianyang 98% |
Jiang Jianyang 98% Yu Xijiang 2% |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Jiang Jianyang |
98 |
|
Yu Xijiang |
2 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman
and General Manager |
Jiang Jianyang |
|
Director |
Yu Xijiang |
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Supervisor |
Zhang Yiming |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name
%
of Shareholding
Jiang Jianyang 98
Yu Xijiang 2
MANAGEMENT
Jiang Jianyang, Legal
Representative, Chairman and General Manager
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Ø
Gender: M
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Also working in Zhanyang Communications Technology (Shenzhen) Co., Ltd. as legal representative
Yu Xijiang, Director
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Ø
Gender: M
Zhang Yiming, Supervisor
----------------------------------------------
Ø
Gender: M
BUSINESS
OPERATION
SC’s registered business scope includes communications products
production, sales and technology development; general cargo; domestic trade,
import and export of goods and technology.
SC is
mainly engaged in manufacturing and selling communications products.
SC’s
products mainly include: mobile telephone.
SC sources its materials 100% from domestic
market. SC sells 5% of its products in domestic market, and 95% to overseas
market, mainly Southeast Asia, etc.
The buying
terms of SC include Check, T/T and Credit of 30-60 days. The payment terms of
SC include Check, T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 71 staff
at present.
SC rents an area as
its operating office and factory, but the detailed information is unknown.
RELATED
COMPANY
Forme Communications Technology Limited
------------------------------------------------------
CR No.: 1414056
Date of Registraton: January 21, 2010
Legal Form: Private
Zhanyang Communications Technology (Shenzhen) Co., Ltd.
------------------------------------------
Legal Representative: Jiang Jianyang
Registration No.: 440301503333270
Related Company &
Offices
Dongguan
Yidalong Communications Technology Co., Ltd.
India
Office
Sales
Manager: Mr. Victor Su
Mobile
phone number: 13609613699
Email:
victor.forme@gmail.com
Egypt
Office
Sales
manager: Ms. Alina
Mobile
phone number: 0020174532689
Email:
Alina@szforme.com
Kenya
Office
Sales
manager: Ms. Spring Song
Mobile
phone: 00254718634720
MSN
& Email: superphone4u@yahoo.cn
Sales
Manager: Mr. Jimmy Jiang
Mobile
phone: 00254718634733
Email:
jiangguo_qiang@126.com
Nigeria
Office
Add:
Suit B6 JFK Plaza Meiran, Ojokoro, Lago Nigeria
Sales
manager: Mr. Valley Chan
MSN
& Email: valley.chan@hotmail.com
Mobile
phone number: 00234-8138079055
Dubai
Office
Sales
manager: Mr. Hassan Ma
Mobile
phone: 00971-50 8411273
Email:
v.group@hotmail.com
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 did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
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 local SAIC.
FINANCIALS
SC’s financials are not filed in local SAIC, and SC also refused to make
any comments.
CONCLUSIONS
SC is considered small-sized in its line with 4 years
business history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.49 |
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UK Pound |
1 |
Rs.86.01 |
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Euro |
1 |
Rs.73.68 |
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.