MIRA INFORM REPORT
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Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MCBRIDE ZHONGSHAN LTD. |
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Registered Office : |
Jianye Road, Torch Hi-Tech Industrial Development Zone, Zhongshan, Guangdong Province, 528437 Pr |
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Country : |
China |
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Date of Incorporation : |
28.04.2008 |
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Com. Reg. No.: |
442000400014769 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Manufacturing and selling cleaners, air fresheners and other products. |
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No. of Employees : |
60 |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
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.
Source
: CIA
Company name and address
MCBRIDE ZHONGSHAN LTD.
jianye road, torch
HI-TECH INDUSTRIAL development zone,
zhongshan, guangdong province, 528437 PR CHINA
TEL: 86 (0)
760-88589803/85282983 FAX:
86 (0) 760-88589903
EXECUTIVE SUMMARY
INCORPORATION DATE : apr. 28, 2008
REGISTRATION NO. : 442000400014769
REGISTERED LEGAL FORM : Wholly foreign-owned
enterprise
STAFF STRENGTH :
60
REGISTERED CAPITAL : GBP 1,050,000
BUSINESS LINE :
MANUFACTURING AND 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 6.2176= 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
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 Apr. 28, 2008.
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 manufacturing cleaners, air fresheners and
electric heater; selling products in domestic and overseas market; wholesaling,
commission agency (excluding auction), import and export of air fresheners,
perfumery, cosmetic or toilet, beauty products, cosmetics and skin care
products, hair care products, the soaps cleaning supplies, household
detergents, cleaning agents, processing and spray packaging plastic products
and metal products, air fresheners timing spray (if the trade of the goods is
governed by the quota or special rule, relevant regulations shall be followed).
SC is mainly
engaged in manufacturing and selling cleaners, air fresheners and other
products.
Mr. Adrian Michael
Andrew Gurney is legal representative and chairman of SC at present.
SC is known to
have approx. 60 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the development zone of Zhongshan.
SC’s management declined to release detailed information of the premise.
http://www.mcbride.co.uk
The website belongs to McBride. The design is professional and the content is
well organized. At present it is in English version.
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name % of Shareholding
Mcbride Hong Kong Holdings Limited 100
Incorporation Date: Dec. 12, 2007
CR No.: 1194421
Company Status: Private
Add: Unit 06, 26th Floor, No. 1 Hung to
Road, Kwun Tong, Kowloon, Hong Kong
Tel: +852 2790 8480
Fax: +852 2790 8484
l Legal Representative
and Chairman:
Mr. Adrian Michael Andrew Gurney, British. He is currently responsible
for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and
chairman.
SC is mainly
engaged in manufacturing and selling cleaners, air fresheners and other
products.
SC’s products
mainly include cleaners, air fresheners, etc.
SC sources its
materials 100% from domestic market. SC sells 100% of its products 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, L/C and Credit of 30-60 days.
Note: SC declined
to release its major suppliers and clients.
According to the website: http://www.mcbride.co.uk
McBride
PLC
Add:
28th Floor, CentrePoint, 103 New Oxford Street, London
Tel:
+44 (0)207 539 7850
Fax:
+44 (0)207 539 7855
Vietnam
Newlane
Cosmetics Co., Ltd.
Add:
22 VSIPII, Street 1, Vietnam Singapore Industrial Park II, Binh Duong Industry
- Service - Urban Complex,
Tel:
+84 650 389 536
Fax:
+84 650 389 535
Kuala
Lumpur
Fortune
Laboratories Sdn Bhd
Add:
Wisma Fortune, No 4, Jalan 16/12, Section 16, 40200 Shah Alam, Selangor Darul
Ehsam, Kuala Lumpur, Malaysia
Tel:
+603 5510 0385
Fax:
+603 5511 2105
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.
Bank of China
Zhongshan Branch Torch Development Zone Sub-branch
Add: Interchange
of Yanjiang Road and Kangle Avenue, Zhongshan Port, Zhongshan, Guangdong
Province
Tel:
86-760-85596590
AC#: N/A
Relationship:
Normal
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a development history of 5
years. Taking into consideration of SC’s operating size as well as market conditions
we would rate SC as an above average credit risk company. Credit dealings with
SC should be confined into small amount at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.27 |
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|
1 |
Rs.82.49 |
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Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.