MIRA
INFORM REPORT
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Report Date : |
06.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ANSHAN ZIZHU INTERNATIONAL TRADING CO., LTD. |
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Registered Office : |
16/F, Block C, Dashang Shangcheng International, Tiedong
District, Anshan, Liaoning Province, 114041 Pr |
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Country : |
China |
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Date of Incorporation : |
30.08.2012 |
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Com. Reg. No.: |
210300005173982 |
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Legal Form : |
One-Person Limited
Liability Company |
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Line of Business : |
trading of steels |
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No. of Employees : |
30 |
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 – 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 & address
ANSHAN
ZIZHU INTERNATIONAL TRADING CO., LTD.
16/f, BLOCK c,
dashang SHANGCHENG international, tiedong district, anshan, liaoning PROVINCE,
114041 PR CHINA
TEL: 86 (0)
412-5911377/2260161/8997819 FAX: 86
(0) 412-5911393
EXECUTIVE SUMMARY
INCORPORATION DATE : AUG. 30, 2012
REGISTRATION NO. : 210300005173982
REGISTERED LEGAL FORM :
ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE :
GAO YAN (CHAIRMAN)
STAFF STRENGTH :
30
REGISTERED CAPITAL : CNY 30,000,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.2276 = 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
Note: the (Diaojuntai Hamlet, Qianshan Town, Liaoning Province P R of China) is SC’s registration address.
SC was registered as a One-person Limited Liability Company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Aug. 30, 2012.
Company Status: One-person Limited Liability
Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business
scope includes selling metal materials, chemical products (excluding hazardous
chemicals), building materials, mechanical & electrical products, machinery
equipment, hoisting equipment, anti-flaming materials, hardware tools,
environmental protection equipment; technical information consultant services
of environmental protection and energy saving equipment; importing and
exporting goods and technologies.
SC is mainly
engaged in trading of steels.
Gao Yan has been legal representative and chairman of SC since
2012.
SC is
known to have approx. 30 employees at present.
SC
is currently operating at the above stated address,
and this address houses its operating office in commercial zone of Anshan. Detailed
premise information is not available at present.
http://www.lnzizhu.com The web
belongs to Liaoning Zizhu Group Co., Ltd. The design is professional and the
content is well organized. At present the web site is in both Chinese and
English versions.
http://www.aszizhu.com The web
belongs to Anshan Zizhu Material Co., Ltd. The design is professional and the content
is well organized. At present the web site is in both Chinese and English
versions.
Email: adam@aszizhu.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Liaoning Zizhu
Group Co., Ltd
100
Liaoning Zizhu
Group Co., Ltd. is a large-scaled comprehensive enterprise, which is
professional in iron & steel smelting, steel rolling, international trade,
R&D of high technology, coal business, logistics, etc.
Registration number: 210300005084944
Registered capital: CNY 250,000,000
Legal representative: Mr. Hong Hai
Tel: +86-412
5911377/5911511/2260162/8997816/8997817/8997819
Fax: +86-412-5911393
Legal
Representative and Chairman:
Gao Yan is currently responsible for the
overall management of SC.
Working
Experience(s):
From 2012 to present Working in SC as legal representative and chairman
Supervisor:
Wu Junling
SC is mainly engaged
in trading of steels.
SC’s products
mainly include steel rails, hot-rolled steels, etc.
SC has been taken into operation since founding.
SC sources its materials 100%
from domestic market. SC sells 50% of its products in domestic markets, and 50%
to overseas market.
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.
Note: SC’s management declined to release its main clients and
suppliers.
According to SC’s
shareholder’s website:
Anshan
The Third Steel Rolling Co., Ltd.
Anshan
Zizhu Sci. & Tech. Profile Steel Co., Ltd.
Anshan
Zizhu Railway Accessories Co., Ltd.
Anshan
Zizhu Material Co., Ltd.
Shanghai
Zizhu International Trade Co., Ltd.
Etc.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) 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: 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.
Note: SC’s management declined to release
its main suppliers, so the trade ref. is not available at present.
SC’s management
declined to release its bank details.
As a newly incorporated company, SC’s financial statements
are not available at present.
SC is considered medium-sized in its line with a short operating
history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.65 |
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UK Pound |
1 |
Rs.82.66 |
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Euro |
1 |
Rs.71.21 |
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.