MIRA
INFORM REPORT
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Report Date : |
04.07.2014 |
IDENTIFICATION DETAILS
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Name : |
DALIAN MERRY INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
Room 701, Tower A, No. 20 Gangwan Street, Zhongshan District, Dalian City, Liaoning Province, 116001 PR |
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Country : |
China |
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Date of Incorporation : |
06.12.2005 |
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Com. Reg. No.: |
210200000017330 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Subject is engaged in the domestic general
trade, importing and exporting goods and technologies |
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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 : |
Undetermined |
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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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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
DALIAN MERRY INTERNATIONAL TRADE CO., LTD.
ROOM 701, TOWER A, NO. 20 GANGWAN STREET, ZHONGSHAN DISTRICT, DALIAN
CITY, LIAONING PROVINCE, 116001 PR CHINA (REGISTERED ADDRESS)
TEL: N/A
FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE :
DEC. 6, 2005
REGISTRATION NO. :
210200000017330
REGISTERED LEGAL FORM : LIMITED
LIABILITIES CO.
CHIEF EXECUTIVE :
CHEN
YONGCHANG (LEGAL REPRESENTATIVE)
STAFF STRENGTH : N/A
REGISTERED CAPITAL : CNY 5,000,000
REGISTERED BUSINESS LINE : TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
NOT YET DETERMINED
MARKET CONDITION :
N/A
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : NOT
YET DETERMINED
EXCHANGE RATE :
CNY 6.208=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 Ren Min Bi
Note: SC is also known as Dalian Merry Trading Co., Ltd.
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 Dec. 6, 2005.
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 domestic general trade, importing and exporting goods and technologies
(with permit if needed)
Chen Yongchang is registered as legal representative and general manager
of SC.
No telephone listing could be found for the company. It is therefore not
possible to contact the company directly to obtain further information. The
nature and extent of the company's operations could not be determined and it
could not be confirmed whether the company operates from the Registered Office
address or in another location.
SC is not known to have website of its own at present.
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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Unknown |
Company’s Chinese name |
大连佳运达国际贸易有限公司 |
Present one |
Note: SC changed its Chinese name with the same English name.
Organization Code: 782458824
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name % of
shareholdings
Chen Yongchang 60
Chen Wei 40
Legal Representative & General Manager:
Chen Yongchang
Also registered as legal representative in Dalian Jiayunda International
Freight Forwarder Co., Ltd.
Exhausting our efforts, we are unable to find SC’s telephone number in various
information sources, including the internet, yellow pages and telecom
companies.
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.
Dalian Jiayunda International Freight Forwarder Co., Ltd. (literal
translation)
==================================================
Reg. No.: 210200000106228
Legal representative: Chen Yongchang
Incorporation date: Jan. 14, 2005
Registered capital: CNY 5,000,000
Overall payment appraisal: ( )
Excellent ( ) Good
( ) Average (
) Fair ( ) Poor
(X) 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: N/A
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.
The banking information
cannot be found.
The financial information
cannot be found.
Despite having exhausted all our effort, we are unable to contact SC. If further contact details of SC can be provided,
we will definitely continue this research.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.72 |
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1 |
Rs.102.45 |
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Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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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.