MIRA INFORM REPORT
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Report Date : |
20.12.2014 |
IDENTIFICATION DETAILS
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Name : |
MUYANG HOLDINGS CO., LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
09.09.2011 |
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Com. Reg. No.: |
321027000129301 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Subject is engaged in Manufacturing,
Selling and Installation of Fodder Machinery. |
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No of Employees : |
2,000 |
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 : |
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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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 and address
MUYANG HOLDINGS CO., LTD.
NO. 1 HUASHENG ROAD, HIGH-TECH INDUSTRIAL DEVELOPMENT ZONE, YANGZHOU,
JIANGSU PROVINCE, 225127 PR CHINA
TEL: 86 (0) 514-87848880/87848888
FAX: 86 (0) 514-87848686
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEP. 9, 2010
REGISTRATION NO. :
321027000129301
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH :
2,000
REGISTERED CAPITAL : CNY 197,330,000
BUSINESS LINE :
MANUFACTURING, SELLING & INSTALLATION
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
UNKNOWN
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.2173
HISTORY
Note: SC is also known as Muyang
Graintech Co., Ltd.
Note: the is the same as the
heading one.
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 Sep. 9, 2010.
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 and installation of high-level feed
machinery and engineering; manufacturing and installation of fabrication and
installation of farming equipment; manufacturing and installation of food
machinery, biodiesel equipment, waste disposal equipment; manufacture and
installation of intelligent machinery (robots); manufacture and sale of the new
energy equipment, farm machinery equipment; manufacturing and engineering
installation of control equipment works;
designing and construction of steel works, steel silo engineering, tunnel
engineering; manufacturing, installation and sale of storage equipment, steel
structures, steel silo and its components; manufacturing, installation and
selling of steel form and steel sheets; building construction; sale of cars
(excluding cars), manufacturing and selling of auto parts and business
management consulting services; contracting foreign projects adapt to its
strength, size, performance; dispatch service personnel needed for the
above-mentioned foreign overseas projects; import and export business of
various commodities and technology (excluding the items limited or prohibited
by the state). (with permit if needed)
SC is mainly engaged manufacturing,
selling and installation of fodder machinery.
Liu Chunbin is legal representative, executive
director, and general manager of SC at present.
SC is known to
have approx. 2,000 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in Yangzhou. The detailed information about the premise is
unspecified. SC also houses its factory in No. 1 Muyang Road, Industrial Park,
Hanjiang District, Yangzhou, Jiangsu Province, 225127 PR China
WEB SITE
SC is not known to have any websites at present.
LITIGATION
For the past two years
there is no record of litigation.
KEY EVENTS/RECENT DEVELOPMENT
Changes of its
registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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Legal
representative |
Fan Tianming |
The present one |
Subject passed the annual inspection of 2012 with Administration for
Industry & Commerce.
Organization Code: 561797996
OWNERSHIP/MANAGEMENT
MAIN
SHAREHOLDERS:
Name Amount
(CNY’0000) % of
Shareholding
Muyang Co., Ltd.
15,000 76.01
Yangzhou Fuxing Investment Centre (Limited Partnership) (literal
translation)
2,713 13.75
Yangzhou Huacai Investment Centre (Limited Partnership) (literal
translation)
2,020 10.24
Muyang Co., Ltd.
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Muyang Co., Ltd. is an integrated solution provider of plants, equipment
and services in the fields of feed manufacturing, grain milling, grain handling
and storage, oilseed processing, animal farming, environment protection, food
processing, biomass processing, steel structure building as well as industrial
automation.
Registration no.: 321027000170104
Registered capital: CNY 250,000,000
Legal rep.: Li Minyue
Legal form: Limited liabilities co.
Tel.: 0514-87848666
Yangzhou Fuxing Investment Centre (Limited
Partnership) (literal translation)
===============================================
Registration no.: 321000000088086
Legal form: Partnership
Yangzhou Huacai Investment Centre (Limited
Partnership) (literal translation)
===============================================
Registration no.: 321000000088094
Legal form: Partnership
MANAGEMENT
l
Legal Representative,
Executive Director and General Manager:
Liu Chunbin, he is
currently responsible for the overall and daily management of SC.
Working Experience(s):
At present Working in SC as legal representative,
executive director and general manager.
Also working in Muyang Holdings Co., Ltd. Xinzheng Branch, Muyang
Holdings Co., Ltd. Guangzhou Branch as principal
l Supervisor:
Ji Xuequn
BUSINESS OPERATIONS
SC is mainly engaged in
manufacturing, selling and installation of fodder machinery.
SC’s products mainly
include:
Grain Milling Equipment
Rice Milling Equipment
Flour Milling Equipment
Grain Handling Equipment
Grain Storage
Environment Protection
Facilities
Automatic Control System
Feed Manufacturing
Equipment
Pre-Cleaning
Proportioning & Mixing
Etc.
Trademarks &
Patents
Registration No. :
10603188
Registration Date : May
28, 2014
Trademark Design :
Registration No. :
10603187
Registration Date : Jun.
14, 2013
Trademark Design :
SC sources its materials 95% from domestic market, and 5% from the
overseas market. SC sells 70% of its products in domestic market, and 30% 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.
RELATED COMPANIES
GROUP
STRUCTURE & AFFILIATED COMPANIES
Jiangsu
Muyang Group Co., Ltd.
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Incorporation date:
Registration no.: 321027000004617
Registered capital: CNY 31,335,454
Legal rep.: Sun Xuqing
Legal form: Limited liabilities co.
Yangzhou
Muyang Steel Structure Engineering Co., Ltd.
=================================
Incorporation date:
Registration no.: 321027000005242
Registered capital: CNY 21,135,596
Legal rep.: Sun Xuqing
Legal form: Limited liabilities co.
Web: http://www.muyangtunnel.com
Tel: 0514-87847666
Fax: 0514-85822818
Muyang
Automatic Control Equipment Co., Ltd.
==========================
Incorporation date:
Registration no.: 321027000026134
Registered capital: CNY 1,000,000
Legal rep.: Li Minyue
Legal form: Limited liabilities co.
BRANCHES
Muyang
Holdings Co., Ltd.
===========================
Incorporation date:
Registration no.: 530100100393286
Principal: Zhu Jie
Muyang
Holdings Co., Ltd. Lai’an Branch
===========================
Incorporation date:
Registration no.: 341122000025991
Principal: Liu Shiqiang
Muyang
Holdings Co., Ltd. Xinzheng Branch
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Incorporation date:
Registration no.: 410184000027217
Principal: Liu Chunbin
Muyang
Holdings Co., Ltd.
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Incorporation date:
Registration no.: 440125000100296
Principal: Liu Chunbin
PAYMENT
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.
BANKING
SC declined to
release its bank details.
FINANCIAL HIGHLIGHTS
SC’s management
declined to release any financial information.
REMARKS
SC is considered large-sized in its line with 4 years development
history. Taking into consideration of SC’s market conditions and development
history, we would rate SC as an average credit risk company. Credit up to
moderate amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.07 |
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1 |
Rs.98.73 |
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Euro |
1 |
Rs.77.46 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ANK |
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.