MIRA
INFORM REPORT
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Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
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Name : |
INNER MONGOLIA SANLIAN CHEMICAL CORP., LTD. |
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Registered Office : |
West Of South Chunguang Road, Jinshan Development Zone, Hohhot, Inner Mongolia, 010010 Pr |
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Country : |
China |
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Date of Incorporation : |
17.04.1998 |
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Com. Reg. No.: |
150000000004191 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
engaged in Producing and Selling of
Chemical Products including Caustic Soda Liquid, Caustic Soda Solid or
Flakes, Synthetic Hydrochloric Acid, Calcium Hypochlorite, Solution
Acetylene, Trichloroethylene, Calcium Carbide and Chlorine Liquid. |
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No. of Employees : |
1,500 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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, 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.
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Source : CIA |
Company name & address
INNER MONGOLIA SANLIAN
CHEMICAL CORP., LTD.
WEST OF SOUTH CHUNGUANG ROAD, JINSHAN
DEVELOPMENT ZONE, HOHHOT, INNER MONGOLIA, 010010 PR CHINA
TEL: 86 (0)
471-3964522/3620692 FAX: 86 (0) 471-3620354
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 17, 1998
REGISTRATION NO. : 150000000004191
REGISTERED LEGAL FORM : SHARES LIMITED CO.
CHIEF EXECUTIVE : MR. PEI DENGTAI (CHAIRMAN)
STAFF STRENGTH : 1,500
REGISTERED CAPITAL : CNY 58,275,996
BUSINESS LINE : MANUFACTURING &
SELLING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT
: AVERAGE
MARKET
CONDITION : AVERAGE
FINANCIAL
CONDITION : N/A
OPERATIONAL
TREND : STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.05 = 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 Renminbi
Note: SC’s current address should be the heading one, while the (No. 1, Huagong Road, Hohhot, Inner Mongolia) was the former one. SC is also known as Inner Mongolia Sanlian Chemical Co., Ltd.
SC was registered as a Shares limited co. at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Apr. 17, 1998.
Company Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The co has independent
property of legal person and enjoys property rights of legal person. The
characteristics of the shares limited co. are as follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be
domiciled in China.. Natural person are allowed to serve as promoters. The minimum registered capital
of a co. is CNY 5M. while that of the co. with foreign investment is CNY
5M. The total capital of a co. which propose to apply for publicly listed
must be no less than CNY 30M. The board of directors must
consist of five to nineteen directors. If the co. raises capital by
public offer, the promoters must not subscribe less than 35% of the total
shares. the promoters’ shares are restricted to transfer- within one year
of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered
business scope includes selling carbide (only for
branches), calcium hypochlorite, trichlorethylene, caustic soda, PVC, acetylene
and other chemical products; cargo transport. General business: import and
export business related to the production technology, materials, equipment,
instruments and spare parts (excluding national companies approved the
implementation of the 12 kinds of imported goods); undertake cargo handling
services, tanker leasing, joint co-operation and processing with
imported materials, processing with imported samples, assembling with imported
parts; selling of metal drums, cans, plastic
containers; construction materials; chemical containers and equipment
accessories; import and export trade in domestic (within national laws and
regulations).
SC is
mainly engaged in producing and selling chemical products.
Mr. Pei Dengtai is legal representative, chairman and general
manager of SC at present.
SC is known to have approx. 1,500 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in Jinshan Development Zone of Hohhot.
SC’s accountant refused to release the detailed information of the premise.
http://www.three-u.com
The website belongs to Sanlian Chemical Group. The design is
professional and the content is well organized. At present it is in Chinese and
English versions.
Qualifications:
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SC was awarded as Hi-tech Enterprise, Outstanding Enterprise, etc.
SC’s former registration no. was 1500001001951.
Subject passed the
annual inspection of 2012 with Administration for Industry & Commerce.
Organization Code: 114127106
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Pei Dengtai and other 703
individuals 100
Legal
representative,
chairman and general manager:
Mr. Pei Dengtai , ID# 15010319501117****, born in 1950 with
university education. He is currently responsible for the overall management of
SC.
Working Experience(s):
At present Working in SC and Inner Mongolia Sanlian Chemical Group as chairman, legal
representative and general manager.
Also working in Inner Mongolia Sanlian Chemical Machine Co., Ltd. and Hohhot Sanlian Real Estate Development Co., Ltd. as legal representative, etc.
From 1994, he took charge and brought to success more than 20 items important technological reconstruction and exploitation of the new products of State and Autonomous Region, and he also was awarded “The Outstanding Achievement of The Development of The Chlorine-Alkali Industry”, “Advancement of Science and Technology”, “Labor Model of State”, “Labor Medal of May 1st” and so on. He also won Autonomous Region “advanced worker of chemical science-technology”, “Autonomous Region excellent quality management award”, Hohhot city “ameliorate technology award” and “special award by mayor” etc. He is the director of Chinese chlorin-alkali industrial institution, the director of Inner Mongolia Autonomous Region industry and economy institution, the director of chemical academy eighth council.
SC is
mainly engaged in producing and selling chemical products.
SC’s products mainly include: Caustic Soda Liquid, Caustic
Soda Solid or Flakes, Synthetic Hydrochloric Acid, Calcium Hypochlorite,
Solution Acetylene, Trichloroethylene, Calcium Carbide and Chlorine Liquid.
SC sources its materials 95% from domestic market and 5%
from the overseas market. SC sells 30% of its products to overseas market and 70% in domestic
market.
The buying terms of SC include Check, L/C, T/T 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 major clients and suppliers.
Inner Mongolia Sanlian Chemical Machine Co., Ltd.
======================
Registration No.: 150111000000181
Incorporation Date: 2002-04-23
Chairman: Pei Dengtai
Hohhot Sanlian Real Estate Development Co., Ltd.
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Registration No.: 150100000002766
Incorporation Date: 2000-04-14
Chairman: Pei
Dengtai
Sino-Chem International Co., Ltd.
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Add.: 18-19/F Jinmao Tower, No. 88
Century Avenue, Pudong New Area, Shanghai
Tel: 86 (0)
21-61048666/13601726156
Fax: 86 (0) 21-50490909/50470206
Incorporation Date : Dec. 14, 1998
Registration No. : 310000000066961
Registered Legal Form : Shares Limited Company
Chief Executive : Mr. Pan Zhengyi
Web:
http://www.sinochemintl.com
E-mail: ir@sinochem.com
It is listed in Shanghai Stock Exchange Market with
the stock code 600500.
Etc.
Branch:
Inner Mongolia Sanlian Chemical
Corp., Ltd. Qingshuihe County Branch
===================================
Registration No.: 150109000002105
Incorporation Date: 2007-01-19
Principal: Zhang Guoxing
Etc.
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.
China
Construction Bank Hohhot Zhongshan West Road Sub-branch
AC#：1507720826314618
Relationship:
Normal.
SC’s management declined to release any financial information.
SC is considered large-sized in its line with 16 years
development history. Taking into consideration of SC’s market conditions and development
history, we would rate SC as an 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.61.95 |
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UK Pound |
1 |
Rs.104.02 |
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Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
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Report Prepared
by : |
NNA |
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.