MIRA INFORM REPORT
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Report Date : |
25.10.2013 |
IDENTIFICATION DETAILS
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Name : |
BEIJING WESTERN GIANT
EQUESTRIAN |
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Registered Office : |
West Of Red Brick Gallery, Hegezhuang, Shunbai Road, Chaoyang
District, Beijing, 100103 Pr |
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Country : |
China |
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Date of Incorporation : |
26.02.2009 |
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Com. Reg. No.: |
110105604000158 |
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Legal Form : |
Individual-Owned |
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Line of Business : |
Subject is engaged in retailing horsemanship facilities. |
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No. of Employees : |
3 |
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 : |
Slow but 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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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
BEIJING WESTERN GIANT EQUESTRIAN
WEST OF RED BRICK Gallery, HEGEZHUANG, SHUNBAI
ROAD, CHAOYANG DISTRICT, BEIJING, 100103 PR CHINA
TEL: 86 (0) 10-64319868 FAX:
86 (0) 10-64319868
EXECUTIVE SUMMARY
INCORPORATION DATE : FEB. 26, 2009
REGISTRATION NO. : 110105604000158
REGISTERED LEGAL FORM : INDIVIDUAL-OWNED ENTERPRISE
CHIEF EXECUTIVE :
MS. ZHU YANHONG (PRINCIPAL)
STAFF STRENGTH :
3
REGISTERED CAPITAL : N/A
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.0937 = 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 Ren min bi
Note: SC’s complete name should be the heading one, and SC is also used
“Western Giant” as a trading name.
SC was registered as an individual-owned enterprise at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Feb. 26, 2009.
Company Status: Individual-owned enterprise This form of business in PR
China is a privately owned individual or family enterprise, which does not
have legal person or limited status. The individual-owned enterprises are
usually located in urban area and are permitted to adopt a business name
& engage in retail, service, transportation & manufacturing
business.
SC’s registered business scope includes retailing horsemanship
equipment.
SC is mainly engaged in retailing horsemanship facilities.
Ms. Zhu Yanhong is principal 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 Beijing. Our checks reveal that SC rents the
total premise, but the gross area of the premise is unspecific
http://www.westerngiant.com.cn
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
E-mail: xibujuren@163.com
No significant events or changes were found during our checks with the local
Administration for Industry and Commerce.
For the past two years there is no record of litigation.
INVESTOR:
Zhu Yanhong
Principal:
Ms. Zhu Yanhong is currently responsible for the overall management of
SC.
Working
Experience(s):
At present Working in SC as principal.
Also working in Beijing Giant Group Imp. & Exp. Co., Ltd. as legal
representative.
Note: our research confirm that the given contact person “Mr. Meirijoo”
is working in SC at present.
SC is mainly engaged in retailing horsemanship equipment.
SC’s products mainly include:
Luxury Show Saddles
Circle-Y Saddles
Abetta Saddles
Cirecle-A Saddles
New Western Saddles
Used Western Saddles
Western Headstalls
Western Breastplates
Western Rope & Reins
Western Whips
Etc.
SC sources its materials 80% from domestic market, and 20% from overseas
market. SC sells 80% of its products in domestic markets, 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.
Note: SC’s management declined to release its main clients and
suppliers.
According to SC’s website:
Beijing Giant Group Imp. & Exp. Co., Ltd.
==============================
Incorporation date:
Registration no.: 110108009897514
Registered capital: CNY 500,000
Legal rep.: Zhu Yanhong
Legal form: Limited liabilities co.
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.
SC’s management declined to release its bank details.
SC was registered as an individual-owned enterprise, which is not
required to submit its annual financial reports to local Administration of
Industry & Commerce.
SC is considered small-sized in its line with a development history of 4
years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.