MIRA
INFORM REPORT
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Report Date : |
08.01.2014 |
IDENTIFICATION DETAILS
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Name : |
NORTH CHINA ASIA PACIFIC CO., LIMITED |
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Registered Office : |
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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 : |
selling of
Plastic & Chemical Products including PET Resin, HDPE, LDPE,
LLDPE, PP, PVC Resin, EPS & Clear PVC Sheet |
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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 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 – 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
NORTH CHINA ASIA PACIFIC CO., LIMITED
NO. 368 NORTH YOUYI STREET,
XINHUA DISTRICT
SHIJIAZHUANG, HEBEI PROVINCE
050000 PR CHINA
TEL: 86 (0) 311-68071113
FAX: 86 (0) 311-68071113
NARRATIVE
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.
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Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
CHECK
ON SC’S REGISTERED TELEPHONE LINE
²
The given contact
ways are as below,
Tel: 86 (0)
311-68071113
Fax: 86 (0)
311-68071113
When we dialed the above given telephone number, a lady answered the
phone. She admitted the English name, and told us its Chinese name in
translation is “华北亚太有限公司”, which is
registered in Hong Kong, but mainly operates in Shijiazhuang, Hebei Province,
PRC China.
²
The lady
introduced the below information,
A.
SC is mainly engaged in selling plastic
& chemical products
B.
The products mainly include:
PET
Resin
HDPE
LDPE
LLDPE
PP
PVC
Resin
EPS
Clear
PVC Sheet
A.
SC sources its products 100% from domestic market.
SC sells 100% to overseas market.
B.
SC’s website: www.nc-ap.com
E-mail: info@nc-ap.com
SPOT VISIT
No. 368
North Youyi Street, Xinhua District, Shijiazhuang, Hebei Province 050000 PR
China
The lady released that SC locates in the at present.
REGISTRATION
During our check with Hong Kong Registry, we found the following registration about SC,
Company Name: North China Asia Pacific Co., Limited
Company File No.: 1922012
Date of Registration:
June 13, 2013
Legal Form: Private
Status: Live
CONCLUSIONS
SC is considered small-sized in its line with short operation history.
Great caution is required in providing credit to SC & C.O.D. is
recommended.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.38 |
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UK Pound |
1 |
Rs.102.25 |
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Euro |
1 |
Rs.84.97 |
INFORMATION DETAILS
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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 |
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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.