MIRA INFORM REPORT
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Report Date : |
22.03.2013 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN HAOWEI IMPORT & EXPORT CO., LTD.
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Registered Office : |
Rm. 813, East Of Baihuo Building, No. 3020, Shennan East Road, Luohu
District, Shenzhen, Guangdong Province, 518001 Pr |
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Country : |
China |
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Date of Incorporation : |
17.09.2007 |
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Com. Reg. No.: |
440301503244358 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Subject will be mainly engaged
in selling food and machinery |
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No. of Employees : |
03 |
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 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
shenzhen haowei import & export Co., Ltd.
rm. 813, east of
baihuo building, no. 3020, shennan EAST road,
luohu district,
SHENZHEN, GUANGDONG PROVINCE, 518001 PR CHINA
TEL: 86 (0) 755-82380701/82380702 FAX: 86 (0) 755-82380703
EXECUTIVE SUMMARY
INCORPORATION DATE : SEPTEMBER 17, 2007
REGISTRATION NO. :
440301503244358
REGISTERED LEGAL FORM :
WHOLLY FOREIGN-OWNED enterprise
CHIEF EXECUTIVE : MR. BOUCHANANE REDA (CHAIRMAN)
STAFF STRENGTH : 3
REGISTERED CAPITAL :
CNY 500,000
BUSINESS LINE : 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
Note: The given name belongs to SC’s parent company, and SC also uses it as its trading name.
Menful
Limited is located in Hong Kong, instead of Shenzhen City, mainland China.
SHENZHEN
HAOWEI IMPORT & EXPORT CO LTD. is located in the
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. 17, 2007.
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 international economic information consultation; import
and export goods.
SC has not started its normal
operation yet. According to the management of SC, SC will be mainly engaged in selling
food and machinery.
Mr.
Bouchanane Reda is legal representative, chairman and general manager of SC at
present.
SC is known to have approx. 3 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shenzhen.
The detailed information of the premise is unspecified.
SC is not known to host website of its own at present.
SC has not started its normal operation
yet. According to the management of SC, SC will be mainly engaged in selling
food and machinery.
Tax Registration Certificate No.: 440300664185917
Organization Code: 664185917
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Menful Limited (Hong Kong) 100
CR No.:
0818792
Date of
Incorporation: 23-Oct.-2002
Company Status:
Private
Active Status:
Live
Legal
representative, Chairman and General manager:
Mr. Bouchanane Reda, Algerian, in his
40’s with university education. He is currently
responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as legal representative, chairman
and general manager.
Supervisor:
Bouchanane Faysal
SC has not started its normal
operation yet. According to the management of SC, SC will be mainly engaged in
selling food and machinery.
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.
The Hong Kong
& Shanghai Banking Corporation Limited
AC#：474423555838 (USD
account)
Relationship:
Normal
Note: SC’s
management declined to release its bank details, so we can’t confirm the given
bank address.
SC was established in 2007, and has not
started its normal operation yet. So its
annual financial reports are not available at present.
SC was established in 2007, and has not
started its normal operation yet.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.28 |
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UK Pound |
1 |
Rs.82.06 |
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Euro |
1 |
Rs.70.23 |
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.