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Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
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Name : |
UNISON
INTERNATIONAL INDUSTRY INC. |
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Registered Office : |
Room No 2-1102
Hongda Apartment, Hebei Road, Tanggu District, Tianjin 300451 PR |
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Country : |
China |
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Date of Incorporation : |
29.11.2000 |
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Com. Reg. No.: |
120191000075993 |
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Legal Form : |
Limited
Liabilities Company |
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Line of Business : |
Subject is engaged
in international trade. |
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No of Employees : |
Not Available |
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 China |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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, 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 2012 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 demand; (b) sustaining
adequate job growth for tens of millions of migrants and new entrants to the
work force; (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. In 2010-11, China
faced high inflation resulting largely from its credit-fueled stimulus program.
Some tightening measures appear to have controlled inflation, but GDP growth
consequently slowed to under 8% for 2012. An economic slowdown in Europe
contributed to China's, and is expected to further drag Chinese growth in 2013.
Debt overhang from the stimulus program, particularly among local governments,
and a property price bubble challenge policy makers currently. 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 exports in the future. However, China has made only
marginal progress toward these rebalancing goals.
|
Source
: CIA |
UNISON
INTERNATIONAL INDUSTRY INC.
ROOM NO 2-1102
HONGDA APARTMENT, HEBEI ROAD
TANGGU DISTRICT,
TIANJIN 300451 PR CHINA
TEL: 86 (0)
22-25831970
FAX: 86 (0)
22-25831703
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.
------------------------------------------
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
²
The given contact
ways are as below,
Tel: 86
(0) 22-25831970
Fax: 86
(0) 22-25831703
When we dialed the given telephone number, a gentleman Mr. Stephen Wang
answered the phone. He admitted the English name, and told us SC is registered
in B.V.I., but mainly operates in Tianjin, mainland China.
²
Mr. Stephen Wang
introduced the below information,
A.
SC is mainly engaged in international
trade.
B.
The products mainly include:
PVC
Rubber
& Plastic Products
Textile
Materials
Chemical
Products
Etc.
C.
SC sources its products 100% from domestic market. SC
sells 100% of its products to the overseas market, mainly India, etc.
D.
Mr. Stephen Wang’s E-mail: stephenw.unison@gmail.com
Room
No 2-1102 Hongda Apartment, Hebei Roadtanggu District, Tianjin 300451 PR China
Mr. Stephen Wang released that SC locates in the above, and there is the
other company named Tianjin Baitong International Forwarding Co., Ltd. locates
there.
Since it is a practice for a company in China
to register in State Administration of Industry and Commerce (SAIC) with a
total set of required documents in CHINESE, we are unable to find its in local
SAIC according to its English name.
We checked the Chinese name “Tianjin Baitong International Forwarding
Co., Ltd.” with Tianjin Municipal SAIC, and found the following registration
information,
Registration No.: 120191000075993
Date of Registration: November 29, 2000
Legal Form: Limited Liabilities Company
Registered Capital: CNY 5,000,000
Legal Representative: Wang Jianhui
We could not confirm if SC registered in B.V.I., since the
registration information of SC is not available.
Based on the investigations performed, it has not been possible to
prepare a normal credit report on the company. Given the circumstances, caution
is advised related to dealings with persons claiming to represent such an
entity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs. 62.27 |
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|
1 |
Rs. 103.66 |
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Euro |
1 |
Rs. 85.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
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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 |
|
-- |
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.