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Report Date : |
14.03.2014 |
IDENTIFICATION DETAILS
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Name : |
DIMEI STONES (HK) COMPANY LIMITED |
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Registered Office : |
Room 1705, Bldg. A, Litao Building, Changping Road, Shantou Guangdong Province 515041 PR |
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Country : |
China |
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Date of Incorporation : |
31.05.2007 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject is mainly engaged in selling stones. Products mainly include: · Natural stone · Microcrystalline stone |
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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 – September 30, 2013
|
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 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. Debt overhang from its credit-fueled stimulus program in 2008-10, particularly among local governments, and soaring property prices challenge policy makers currently. Their efforts to cool a red-hot property market in 2011 appear to have curbed inflation, but contributed to slower GDP growth in 2012 and 2013. Slow recovery in Europe and other key export markets have also retarded growth. 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 fixed investments and exports in the future. 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 |
DIMEI STONES (HK)
COMPANY LIMITED
ROOM 1705, BLDG. A, LITAO BUILDING, CHANGPING ROAD,
SHANTOU GUANGDONG PROVINCE 515041 PR CHINA
TEL: 86 (0) 754-88840420
FAX: 86 (0) 754-88840421
This refers to a type of report whose format is different from that of a standard report. Such type of report is provided when:
Information obtained is insufficient for compiling a standard report.
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
The given contact ways are as below,
Tel: 86 (0) 754-88840420
Fax: 86 (0) 754-88840421
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 “地美石业（香港）有限公司”, which is registered in Hong Kong, but mainly operates in Shantou, Guangdong Province, PRC China.
The lady introduced the below information,
SC is mainly engaged in selling stones.
The products mainly include:
Natural stone
Microcrystalline stone
Etc.
SC sources its products 20% from domestic market, and 80% from overseas market, mainly India. SC sells 70% of its products in domestic market, and 30% to overseas market.
SC’s e-mail: info@dilistone.com
SC’s related company,
Jiedong Dimei Stones Co., Ltd.
Web: www.dmstones.com
Room 1705, Bldg. A, Litao Building, Changping Road, Shantou, Guangdong Province 515041 PR China
The lady released that SC’s address should be the above stated one.
During our check with Hong Kong Registry, we found the following registration about SC,
Company Name: DIMEI STONES (HK) COMPANY LIMITED
Company File No.: 1137122
Date of Registration: May 31, 2007
Legal Form: Private
Status: Live
A research was conducted with Jieyang municipal and Guangdong Provincial State Administration of Industry & Commerce (SAIC-the official body of issuing and renewing business license), we found the registration information for SC’s related company- Jiedong Dimei Stones Co., Ltd., as follows,
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Registration No.: 445221000000533
Date of Registration: August 16, 1996
Legal Form: Limited Liabilities Company
Registered Capital: CNY 2,400,000
Legal Representative: Zhou Jianjun 周建军
SC is considered small-sized in its line with 7 years operation history. Great caution is required in providing credit to SC & C.O.D. is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.02 |
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|
1 |
Rs.101.65 |
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Euro |
1 |
Rs.85.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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 |
-- |
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.