MIRA INFORM REPORT
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Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
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Name : |
TIANJIN
MASTER STORAGE FACILITIES CO., LTD. |
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Registered Office : |
Caozili Industrial Zone, Wuqing
District, Tianjin 301700 PR |
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Country : |
China |
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Date of Incorporation : |
12.12.2001 |
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Com. Reg. No.: |
120106000023285 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing and selling storage rack. |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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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 and address
TIANJIN MASTER STORAGE FACILITIES
CO., LTD.
CAOZILI INDUSTRIAL
ZONE, WUQING DISTRICT, TIANJIN 301700 PR CHINA
TEL: 86
(0) 22-29550295/26988006/26988008
FAX: 86
(0) 22-26988009
EXECUTIVE SUMMARY
Date of Registration : DECember 12, 2001
REGISTRATION NO. : 120106000023285
LEGAL FORM :
Limited Liability Company
REGISTERED CAPITAL :
CNY 10,000,000
staff : 120
BUSINESS CATEGORY :
MANUFACTURING
Revenue : N/A (AS OF DEC. 31, 2012)
EQUITIES : N/A (AS OF
DEC. 31, 2012)
WEBSITE : www.racking.com.cn
E-MAIL : sales@racking.com.cn
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND :
ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.21 = USD
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
Not yet be determined
LEGAL STATUS & HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 120106000023285 on December 12, 2001.
SC’s Organization Code Certificate
No.: 73282888-2
SC’s Tax No.: 120106732828882
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 10,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registration No. |
1201062002314 |
120106000023285 |
Current Co search indicates SC’s shareholders & chief executives
are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
|
Chen Dezhang |
6.5 |
|
Chen Dehai |
93.5 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Chen
Dehai |
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Supervisor |
Chen
Dezhang |
RECENT DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Chen Dehai
93.5
Chen Dezhang
6.5
MANAGEMENT
Chen
Dehai, Legal
Representative, Chairman and General Manager
---------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working
experience (s):
At present, working in SC as
legal representative, chairman and general manager
Chen Dezhang, Supervisor
----------------------------------------------
Ø
Gender: M
BUSINESS OPERATION
SC’s registered business scope includes wholesaling and retailing
storage facilities, storage handling equipment, lifting equipment, storage
rack, refrigeration equipment, computer peripherals, plastic products, metal
products, hardware, office supplies and decorative materials; import and export
business; manufacturing storage equipment and storage rack. (in accordance with
the permit)
SC is mainly engaged in manufacturing and selling storage
rack.
SC’s
products mainly include: pallet racking, drive-in racking, push back racking,
etc.
SC sources its materials 95% from domestic market and 5% from overseas market. SC sells 80% of its products in domestic market and 20% to overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
*Major Customer:
=============
Wallace
Construction Specialties Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 120
staff at present.
SC
owns an area as its operating office & factory of approx. 15,000 sq. meters
at the heading address.
RELATED COMPANY
According
to SC’s website:
n
Beijing Office
Tel: 010-80812649
n
Wuhan Office
Tel: 027-51488359
n
Shandong Office
Tel: 86-18602626007
n
Xi’an Office
Tel: 029-86216869
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 SAIC.
FINANCIALS
The financials of SC is not
available in local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered medium-sized in its line with a development
history of 12 years. Credit dealings with SC in small amount appear acceptable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
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|
1 |
Rs.82.32 |
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Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.