MIRA INFORM REPORT
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Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
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Name : |
ZHEJIANG UEASY BUSINESS SERVICE CO., LTD. |
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Registered Office : |
No. 22 Great Wall Street, Shiqiao Road, Xiacheng District Hangzhou, Zhejiang
Province 310021 Pr |
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Country : |
China |
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Date of Incorporation : |
14.02.2014 |
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Com. Reg. No.: |
330000000072957 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Selling textiles, general merchandise, hardware, arts and crafts,
mechanical and electrical products, and edible agricultural products,
information consulting services, training services; international trade. |
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No of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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, growth of the
private sector, development of stock markets and a modern banking system, 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 considered important to "economic
security," explicitly looking to foster globally competitive industries.
After keeping its currency tightly linked to the US dollar for years, in July
2005 China 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 and expanded
the daily trading band within which the RMB is permitted to fluctuate. 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. Several factors are
converging to slow China's growth, including debt overhang from its
credit-fueled stimulus program, industrial overcapacity, inefficient allocation
of capital by state-owned banks, and the slow recovery of China's trading
partners. The government's 12th Five-Year Plan, adopted in March 2011 and
reiterated at the Communist Party's "Third Plenum" meeting in
November 2013, emphasizes continued economic reforms and the need to increase
domestic consumption in order to make the economy less dependent in the future
on fixed investments, exports, and heavy industry. 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
ZHEJIANG UEASY BUSINESS SERVICE
CO., LTD.
NO. 22 GREAT WALL STREET, SHIQIAO ROAD, XIACHENG DISTRICT
HANGZHOU, ZHEJIANG PROVINCE 310021 PR CHINA
TEL: 86 (0) 571-86596759
FAX: 86 (0) 571-87850231
EXECUTIVE
SUMMARY
Date of Registration : FEBRUARY 14, 2014
REGISTRATION NO. : 330000000072957
LEGAL FORM : LIMITED LIABILITY
COMPANY
CHIEF EXECUTIVE :
GUO BIN (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 10,000,000
staff :
20
BUSINESS CATEGORY : SERVICE
Revenue :
N/A
EQUITIES :
N/A
WEBSITE : www.ueasychina.com
E-MAIL :
zhangxing@ueasychina.com
PAYMENT :
AVERAGE
Recommended Credit Limit : small amount
MARKET CONDITION : currently remains to be observed
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.15 = USD 1 AS OF
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.: 330000000072957 on February 14, 2014.
SC’s Organization Code Certificate No.:
09279027-2
SC’s Tax No.: 330100092790272
SC’s registered capital: CNY 10,000,000
Registration Change Record:-
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
|
Liao Jianke |
5 |
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Union Committee of Zhejiang Chemicals Import & Export Corporation |
20 |
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Zhejiang E-Port Co., Ltd. |
35 |
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Zhejiang Chemicals Import & Export Corporation |
40 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and General Manager |
Guo Bin |
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Vice Chairman |
Wang Weidong |
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Director |
Wang Fen |
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Fang Li |
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Chen Jian |
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Supervisor |
Liao Jianke |
|
Chen Mingchun |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Liao Jianke 5
Union Committee of Zhejiang Chemicals Import & Export Corporation 20
Zhejiang E-Port Co., Ltd. 35
Zhejiang Chemicals Import & Export Corporation 40
Zhejiang E-Port Co., Ltd.
------------------------------------
Date of Registration: June 6, 2006
Registration No.: 330000000010967
Legal Form: Limited Liability
Company
Chief Executive: Sun Luming
Registered Capital: CNY 14,609,204
Zhejiang Chemicals Import & Export Corporation
--------------------------------------------------
Date of Registration: September 10, 1982
Registration No.: 330000000001627
Legal Form: Limited Liability
Company
Chief Executive: Guo Bin
Registered Capital: CNY 72,500,000
MANAGEMENT
Guo Bin , Legal Representative, Chairman and General
Manager
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Gender: M
Qualification: University
Working experience (s):
At present, working in SC as legal representative, chairman and general
manager, also working in Zhejiang Chemicals Import & Export Corporation as
legal representative
Wang Weidong ,
Vice Chairman
----------------------------------------------------
Gender: M
Qualification: University
Working experience (s):
At present, working in SC as vice chairman
Director
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Wang Fen
Fang Li
Chen Jian
Supervisor
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Liao Jianke
Chen Mingchun
BUSINESS OPERATION
SC’s registered business scope includes selling textiles,
general merchandise, hardware, arts and crafts, mechanical and electrical
products, and edible agricultural products, information consulting services,
training services; international trade.
SC is mainly engaged in providing customs clearance, and logistics
service.
The buying terms of SC include Check, 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.
Staff &
Office:
--------------------------
SC is known to have approx. 20
staff at present.
SC rents an area as its operating office, but the detailed information
is unknown.
RELATED COMPANY
SC is not known to have any subsidiary at present.
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
Established as a new company in 2014, SC’s
financials are not available.
CONCLUSIONS
SC is considered small-sized in its line with a short business history.
Taking into consideration of SC’s good background,
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.93 |
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|
1 |
Rs.97.39 |
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Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
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Analysis Done by
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SUM |
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Report Prepared
by : |
TPT |
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.