MIRA INFORM REPORT
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Report Date : |
09.12.2014 |
IDENTIFICATION DETAILS
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Name : |
TECHSINO GROUP HOLDING CO., LIMITED |
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Registered Office : |
602, |
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Country : |
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Date of Incorporation : |
---- |
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Com. Reg. No.: |
---- |
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Legal Form : |
---- |
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Line of Business : |
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No of Employees : |
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RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Not registered in |
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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
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
TECHSINO GROUP HOLDING CO., LIMITED
602, NO. 47 XIANGJIANG AVENUE, HEXI DISTRICT,
TEL: N/A
FAX: N/A
Alert report!
This refers to a type of report whose format is different from that of a standard report. Such type of report is provided when:
l
Information
obtained is insufficient for compiling a standard report.
l
The
enquired co has been out of business or its business address has been
untraceable.
It should be noted
that the time and manpower spent on preparing such type of report might be
greater than those on a standard report. On many occasions, the information in
this type of report still indicates the current status of the enquired co. and
serves as a useful reference to assess its credit standing.
The contact
information from the internet: 022-24331380
We dialed the above telephone
no., but it does not exist.
According to our
database, we contacted SC through the mobile number (13920110473), and a lady
answered. But she said that the number did not belong to SC.
Exhausting our efforts, we are unable to find SC’s telephone number in various information sources, including the internet, yellow pages and telecom companies.
According to
our database:
*SC’s Chinese name
is 中贸凯圣集团控股有限公司.
*SC was registered
in Hong Kong.
The address client provided is:
602, No. 47 Xiangjiang Road, Hexi District, Tianjin
Failing to contact SC, the above address
could not be confirmed.
According to the Chinese name showed in our
database, careful investigations were made with Tianjin Municipal Administration
for Industry and Commerce (AIC - The official body of issuing and renewing
business license), however, no record was found.
In Hong Kong Companies Registry, we found the
following information:
Techsino Group Holding Co., Limited
============================
CR No.: 1381025
Company Type: Private company limited by shares
Date of Incorporation: 12-Oct.-2009
Active Status: Live
Remarks: Striking Off
It is not possible to contact
the company directly to obtain further information. The nature and extent of
the company's operations could not be determined.
According to our database:
Tianjin Techsino
International Co., Ltd.
=============================
Incorporation Date:
Dec. 29, 2009
Registration No.:
120103000125671
Registered Legal
Form: Limited Liabilities Company
Registered Capital:
CNY 1,000,000
Shareholders Investment Amount % of shareholding
Lv Zonghao CNY 510,000 51
Lv Zongshun CNY 490,000 49
Note: The above company’s business
registration license was revoked.
SC was striking off.
Considering the above investigation results, great caution is required in providing
credit to SC and no credit dealings with SC can be recommended.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.93 |
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1 |
Rs.96.37 |
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Euro |
1 |
Rs.76.10 |
INFORMATION DETAILS
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Analysis Done by
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SUM |
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Report Prepared
by : |
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 |
-- |
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.