MIRA INFORM REPORT
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Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
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Name : |
SERVETAL INDUSTRIAL LIMITED |
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Registered Office : |
Room 2007 Weilan Hai'an Shiji Building No.
257 Haikou Road, Laoshan District Qingdao, Shandong Province 266100 PR |
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Country : |
China |
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Date of Incorporation : |
08.06.2012 |
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Legal Form : |
Private |
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Line of Business : |
Subject is mainly engaged in exporting Chemical Product. · Organic Chemicals · Inorganic Chemicals · Rubber Chemicals · Pigments & Dyestuffs |
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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 : |
-- |
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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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
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 & ADDRESS
SERVETAL INDUSTRIAL LIMITED
room 2007 Weilan Hai'an Shiji Building
no. 257 haikou road, laoshan district
qingdao, shandong PROVINCE 266100 PR CHINA
TEL: 86 (0) 532-67785311
FAX: 86 (0) 532-67785322
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.
------------------------------------------
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 for SC are as below,
Tel:
86 (0) 532-67785311
Fax:
86 (0) 532-67785322
When we dialed the above telephone number, a
gentleman answered the phone.
² The gentleman introduced the below information,
A. SC is mainly
engaged in exporting chemical products.
B. SC sources its
materials 100% from domestic market. SC sells 100% to overseas market, mainly
Southeast Asia, etc.
C.
The products mainly include,
· Organic Chemicals
· Inorganic Chemicals
· Rubber Chemicals
· Pigments & Dyestuffs
A. http://www.servetal-chemical.com/The other contact ways,
Mobile: 0086-15192796419
E-mail: servetal.chemical@gmail.com
SPOT
VISIT
Room
2007 Weilan Hai'an Shiji Building, No. 257 Haikou Road, Laoshan District,
Qingdao, Shandong Province 266100 PR China
According to the gentleman, SC’s current
address should be the heading one, instead of the -5 Middle Hongkong Road,
Qingdao.
REGISTRATION
We checked the Chinese name with
Qingdao Municipal SAIC, however, we did not find any.
During our check with Hong Kong
Registry, we found the following registration about SC,
Company
Name:
Servetal Industrial Limited
Company
File No.: 1757271
Date of
Registration: June 8, 2012
Legal
Form: Private
Status: Live
CONCLUSIONS
SC is considered small-sized in its line with 2 years history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.79 |
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1 |
Rs.102.66 |
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Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
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Analysis Done by
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SUM |
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Report Prepared
by : |
NIT |
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.