MIRA INFORM REPORT
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Report Date : |
21.04.2014 |
IDENTIFICATION DETAILS
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Correct Name : |
FULAM ELECTRONICS
CO., LTD. |
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Registered Office : |
7b, No. 4
Workshop, Yuzhou Industrial Zone, Zhi Cun,
Dashi Town, Panyu District, Guangzhou, Guangdong Province, 511430 Pr |
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Country : |
China |
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Date of Incorporation : |
21.10.2009 |
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Com. Reg. No.: |
440126000031453 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in manufacturing electronic products, structural metal
products, metal parts used in construction, metal parts for furniture, wires,
cables, rubber products, plastic products and related technology research and
development; wholesale and retail trade (excluding state control of the
franchise goods, frozen meat and frozen seafood); importing and exporting
goods and technologies. (excluding products prohibited by legal,
administrative rules and regulations; with permit if needed) Subject product ranges include:- *Projector Hanging Bracket Motorized
Projector Lift Projector
Ceiling Mount *Multimedia Desktop Socket ZMC series DTP4xx MDS series Rotate series DTP2xx FL series DB series Pull up series screen series *Multimedia Wall Socket Plate 86 Aluminum
series 86 PVC series Customized
series *TV stand |
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No of Employees : |
06 (Approximately) |
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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
Company
name & address
FULAM ELECTRONICS CO., LTD.
7B, No. 4 Workshop, Yuzhou Industrial Zone, Zhi Cun, DaShi TOWN, Panyu District, Guangzhou,
GUANGDONG PROVINCE, 511430 PR CHINA
TEL: 86 (0) 20-89040735 FAX: 86 (0) 20-89040731
EXECUTIVE
SUMMARY
INCORPORATION DATE : oct. 21, 2009
REGISTRATION NO. : 440126000031453
REGISTERED LEGAL FORM : Limited liabilities co.
CHIEF EXECUTIVE : Mr. FU BIN (CHAIRMAN)
STAFF STRENGTH :
6
REGISTERED CAPITAL : CNY 500,000
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 6.2115
= 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: the given name “LEADA TECHNOLOGY COMPANY LTD” belongs to SC’s related company registered in Hong Kong, while SC is operating in the heading address.
SC was registered as a limited liabilities co. at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Oct. 21, 2009.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes manufacturing electronic
products, structural metal products, metal parts used in construction, metal
parts for furniture, wires, cables, rubber products, plastic products and
related technology research and development; wholesale and retail trade
(excluding state control of the franchise goods, frozen meat and frozen
seafood); importing and exporting goods and technologies. (excluding products
prohibited by legal, administrative rules and regulations; with permit if needed)
SC is mainly
engaged in manufacturing and selling hardware accessories, desktop socket &
wall socket.
Mr. Fu Bin is the
legal representative, chairman and general manager of SC at present.
SC is known
to have approx. 6 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the industrial zone of Guangzhou. Our checks reveal that SC
rents the total premise, but the gross area of the premise is unspecific.
http://www.fulam.com.cn The design
is professional and the content is well organized. At present it is in Chinese
and English versions.
E-mail: info@fulam.com.cn
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
Organization Code: 695195552
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Fu Bin 49
Lin Lanying 51
Legal
Representative, Chairman and General Manager:
Mr. Fu Bin is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as legal representative, chairman and general manager
Supervisor:
Lin Lanying
SC is mainly engaged
in manufacturing and selling hardware accessories, desktop socket & wall
socket.
SC’s products mainly include:
*Projector Hanging
Bracket
motorized
projector lift
projector ceiling
mount
*Multimedia
Desktop Socket
ZMC series
DTP4xx
MDS series
Rotate series
DTP2xx
FL series
DB series
Pull up series
screen series
*Multimedia Wall
Socket Plate
86 Aluminum series
86 PVC series
Customized series
*TV stand.
SC sources its
materials and products 100% from domestic market. SC sells 100% of its products
in domestic market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, T/T and Credit of 30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
Leada
Technology Company Limited (Hong Kong)
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Incorporation
date: 2005-10-12
Registration
no.: 1000785
Status:
Live
Web: http://www.leadachina.com
E-mail:
info@leadachina.com
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 the bank information of SC.
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.38 |
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UK Pound |
1 |
Rs.101.63 |
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Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared by
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MNL |
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.