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Report Date : |
09.04.2014 |
IDENTIFICATION DETAILS
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Name : |
CHINA UNION
(MACAO COMMERCIAL OFFSHORE) COMPANY LIMITED |
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Registered Office : |
Alameda Dr. Carlos D'Assumpcao, No.
335 a 341, Centro Comercial Hotline, 21 andar E, Em |
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Country : |
Macau |
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Date of Incorporation : |
19.11.2004 |
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Com. Reg. No.: |
SO 19921 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Daily files handling |
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No. of Employees |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Macau |
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 2013 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 consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (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. Debt overhang from its credit-fueled stimulus program in 2008-10, particularly among local governments, and soaring property prices challenge policy makers currently. Their efforts to cool a red-hot property market in 2011 appear to have curbed inflation, but contributed to slower GDP growth in 2012 and 2013. Slow recovery in Europe and other key export markets have also retarded growth. 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 fixed investments and exports in the future. However, China has made only marginal progress toward these rebalancing goals. The new government of President XI Jinping has signaled a greater willingness to undertake reforms that focus on China's long-term economic health, including giving the market a more decisive role in allocating resources
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Source
: CIA |
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Registered Name: |
China Union (Macao Commercial Offshore) Company Limited |
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Registered Address: |
Alameda Dr. Carlos D'Assumpcao, No.
335 a 341, Centro Comercial Hotline, 21 andar E, Em Macau |
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Date of Registration: |
2004-11-19 |
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Business Registered Number: |
SO 19921 |
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Legal Form: |
Private Limited Liability Company |
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Registered Capital: |
MOP 1,000,000 (USD 123,000) (As of 2014.04, 1 MOP = 0.1230 USD) |
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Principal Activities: |
Daily files handling |
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Staff: |
About 5 Employees |
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Listed at Stock Exchange: |
No |
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Information Ended at: |
2014-1-24 |
Subject was incorporated on 2004-11-19 with registered number SO 19921 as Private Limited Liability Company
in Macau.
Shareholders
|
Subscription
Amount |
Proportion
of Investment (%) |
|
|
Richwood Group Limited |
1,000,000 |
100% |
|
Total |
1,000,000 |
100% |
Major Shareholder Information:
|
Name: |
Richwood Group Limited |
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Address: |
British Virgin Islands, 2nd Floor, Abbott
Building, Road Town, Tortola |
Parent Company
|
Name: |
Richwood Group Limited |
|
Registered Address: |
British Virgin Islands, 2nd Floor, Abbott
Building, Road Town, Tortola |
Note: It is introduced that subject has a related company in
Hong Kong with telephone number +852-2733-0058 which is engaged in trading of
pulp and paper, but the other detail information we cannot obtain from any
sources.
Core Management
Board of Directors:
|
Name: |
Sin Hang Yee |
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Registered Address: |
2/F., 250 Yu Chau Street, Shamshuipo, Kowloon, Hong Kong |
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Gender: |
Female |
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Marital Status: |
Married |
Personnel Structure
|
Total Employees |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Alameda Dr. Carlos D'Assumpcao, No.
335 a 341, Centro Comercial Hotline, 21 andar E, Em Macau |
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Area: |
39.3 square meters |
Premises Information
Office address:
|
Address: |
Alameda Dr. Carlos D'Assumpcao, No.
335 a 341, Centro Comercial Hotline, 21 andar E, Em Macau |
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Owners: |
Jean, Andre, Armand, Vermet |
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Matriz: |
73073 |
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Nature: |
Urban |
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Duration: |
25 years; from 1992-7-6 |
Operation Information
Subject is engaged in daily files
handling for its related company in Hong Kong and they don’t take
orders.
It is introduced that the customers should be connected with
its Hong Kong Company directly.
Subject’s related company in Hong Kong is engaged in trading
of pulp and paper, etc.
It is introduced that the selling territory of subject’s related company covers Southeast Asia, Europe and
America, etc.
Settlements
Since subject is engaged in files handling without sales
business, the settlement information is not available.
The subject has no obligation to
supply its financial statement to the third party according to the relevant
policy in Macao and the only source from which we can obtain the information is
the subject itself.
Subject’s relevant staff Ms. Zhou declined
to disclose its financial information citing the grounds of company’s
confidentiality; from other source we cannot obtain the relevant information,
either.
Subject declined to disclose its bank details; from other source we can
not obtain the relevant information, either.
Mortgage Record
No mortgage record of subject was found.
|
Name: |
Ms. Zhou |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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 |
|
|
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.