MIRA INFORM REPORT
|
Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
APTAR SUZHOU DISPENSING SYSTEMS CO., LTD. |
|
|
|
|
Registered Office : |
Building 25, Dongjing Industrial Zone, No. 1 Jintian Road Suzhou
Industrial Park, Suzhou, Jiangsu Province 215123 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
14.12.1995 |
|
|
|
|
Com. Reg. No.: |
320594400000551 |
|
|
|
|
Legal Form : |
Wholly Foreign-Owned Enterprise |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing and selling various types of
proportional valves and pumps. |
|
|
|
|
No. of Employees : |
1,005 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
Company name and address
APTAR SUZHOU DISPENSING SYSTEMS CO., LTD.
BUILDING 25, DONGJING INDUSTRIAL ZONE, NO. 1 JINTIAN ROAD SUZHOU
INDUSTRIAL PARK, SUZHOU, JIANGSU PROVINCE 215123 PR CHINA
TEL: 86 (0) 512-62602150/62602555/62602556
FAX: 86 (0) 512-62602667
***Note: SC’s
telephone number should be the above stated one, instead of the given telephone
number - 91-28-0077000/91-22-26873502.
EXECUTIVE SUMMARY
Date of Registration : december 14, 1995
REGISTRATION NO. : 320594400000551
LEGAL FORM : Wholly foreign-owned enterprise
CHIEF EXECUTIVE :
STEPHEN JOSEPH HAGGE (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : usd 30,800,000
staff :
1,005
BUSINESS CATEGORY : manufacturing
Revenue :
N/A (AS OF DEC. 31, 2012)
EQUITIES :
N/A (AS OF DEC. 31, 2012)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.12 = 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
Not yet be determined
LEGAL STATUS & HISTORY
SC was established as a wholly foreign-owned enterprise of PRC with
State Administration of Industry & Commerce (SAIC) under registration No.: 320594400000551 on December 14, 1995.
SC’s Organization Code Certificate No.:
60823572-1
SC’s registered capital: usd 30,800,000
SC’s paid-in capital: usd 30,800,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2012 |
Registration No. |
020236 |
320594400000551 |
|
Legal Representative |
Emil David Meshberg |
Stephen Joseph Hagge |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Aptargroup Holding SAS (France) |
59.74 |
|
USA Aptar Group Inc. |
40.26 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Stephen Joseph Hagge |
|
Director |
Peter Mans Pfeiffer |
|
Olivier Georges Brondel |
|
|
Patrick Freeman Doherty |
|
|
Marc Prieur |
|
|
Ding Jian丁健 |
|
|
Supervisor |
Nirajkumar Agrawal |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Aptargroup Holding SAS (France) 59.74
USA Aptar Group Inc. 40.26
Aptargroup Holding SAS (France)
=========================
36-38, rue de
CS 10509
78431 Louveciennes Cedex
FRANCE
Phone: +33 1 30 87 19 80
Fax: +33 1 30 87 09 09
E-mail: info@aptar.com
USA Aptar Group Inc.
=================
475 West Terra Cotta, Suite E
Crystal Lake, IL 60014-9695
USA
Phone: +1 815 477 0424
Fax: +1 815 477 0481
Web: www.aptar.com
E-mail: info@aptar.com
MANAGEMENT
Stephen Joseph
Hagge, Legal Representative, Chairman
and General Manager
------------------------------------------------------------------------------------------------------
Gender: M
Passport No.: 048385244
Qualification: University
Working experience (s):
From 2012 to present, working in SC as legal representative, chairman
and general manager
Also as principal of Aptar Suzhou Dispensing Systems Co. Ltd. Aputa
Medical Technology Branch
Director
-----------
Peter Mans Pfeiffer Passport
No. 6852028874
Olivier Georges Brondel Passport
No. 04HB79167
Patrick Freeman Doherty Passport
No. 027263013
Marc Prieur Passport
No. 09AT36018
Ding Jian丁健 ID#
320503197204262049
Supervisor
-------------
Nirajkumar Agrawal Passport
No. H2530320
BUSINESS OPERATION
SC’s registered business scope includes processing and manufacturing
various types of proportional valves, pumps, other dispensing system, parts and
related moulds and machinery, selling its owned products, providing related
technical consultancy services.
SC is mainly engaged in manufacturing and selling various types of
proportional valves and pumps.
Brand: APTAR
SC’s products mainly include: dispensing pumps.
SC sources its materials 50% from domestic market, and 50% from overseas market, mainly USA and Europe. SC sells 50% of its products in domestic market, and 50% to overseas market, mainly USA, Europe and Southeast Asian market.
The buying terms of SC include T/T, L/C and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
*Major Customer:
==============
Unilever (China) Co., Ltd.
Medicia Corporation
*Major Supplier:
============
Kline & Company Inc., Shanghai Rep. Office
Staff &
Office:
--------------------------
SC is known to have approx. 1,005
staff at present.
SC owns an area as its operating office and factory, but the detailed
information is unknown.
RELATED COMPANY
SC is known to have
a branch at present,
Aptar Suzhou Dispensing Systems Co. Ltd. Aputa Medical Technology Branch
---------------------------------------------------------------------------
Date of Registration: February 19, 2013
Registration No.: 320594500010550
Legal Form: Branch
Chief Executive: Stephen Joseph Hagge
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
Basic Bank:
Bank of China Suzhou Branch
AC#: 08419608091001
FINANCIALS
The financials of SC is not available in
local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered large-sized in its line with a development history of
18 years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.