MIRA INFORM REPORT
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Report Date : |
03.05.2014 |
IDENTIFICATION DETAILS
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Name : |
SINOCHEM LANTIAN TRADING CO., LTD. |
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Registered Office : |
No. 96 Jiangnan Avenue, Binjiang District, Hangzhou City, Zhejiang Province, 310051 PR |
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Country : |
China |
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Date of Incorporation : |
23.01.2006 |
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Com. Reg. No.: |
330000000057376 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in selling chemicals |
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No. of Employees : |
100 |
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 : |
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
SINOCHEM LANTIAN
TRADING CO., LTD.
NO. 96 JIANGNAN AVENUE, BINJIANG DISTRICT,
HANGZHOU CITY, ZHEJIANG PROVINCE, 310051 PR CHINA
TEL: 86 (0) 571-86589552
FAX: 86 (0) 571-88904005
EXECUTIVE
SUMMARY
INCORPORATION DATE : Jan. 23, 2006
REGISTRATION NO. : 330000000057376
REGISTERED LEGAL FORM : One-person Limited
Liability Company
chief executive :
MR. yu xiaogang (CHAIRMAN)
STAFF STRENGTH :
100
REGISTERED CAPITAL : CNY 100,000,000
BUSINESS LINE :
TRADING
TURNOVER : N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.2608 = 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
SC was registered as a One-person Limited Liability Company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license).
Company Status: One-person Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and shall
be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes importing and exporting business
(with permit if needed)
SC is mainly engaged in selling chemicals.
Mr. Yu Xiaogang is legal representative and chairman of SC at present.
SC is known to have approx. 100 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Hangzhou. Detailed
premise information is unspecified.
http://www.sinochemlt.com/ The web belongs to
Sinochem Lantian Co., Ltd. The design is professional and the content is well
organized. At present it is in both Chinese and English versions.
Email: zhuxiaodong@sinochem.com
No significant events or changes were found during our checks with local
AIC.
Subject passed the annual inspection of 2012 with Administration for
Industry & Commerce.
Organization Code: 784436944
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Sinochem Lantian Co., Ltd. 100
Reg. No.: 330000000028887
Incorporation date: Aug. 23, 2000
Legal representative: CNY 1,470,000,000
Web: http://www.sinochemlt.com/
Add.: No. 96 Jiangnan Avenue, Binjiang District, Hangzhou
Tel.: 0571-85216718
Fax: 0571-85215306
Legal
representative & chairman:
Mr. Yu Xiaogang is currently responsible for the overall management of
SC.
Working
Experience(s):
At present
Working in SC as legal representative and chairman
Directors:
He Bangjing
Mao Jiangqiang
Supervisor:
Dong Jun
SC is mainly engaged in selling chemicals.
SC’s products mainly include various flurocarbon chemicals and other
chemicals, SC refused to release its detailed products items.
SC sources its materials 80% from domestic market and 20% from overseas
market. SC sells 50% of its products in domestic market and 50% to overseas
market.
The buying terms of SC include Check, T/T, L/C 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 refused to release its main clients and suppliers.
According to the above website, SC has the following related companies:
Zhejiang Lantian Environmental Protection Chemical Co., Ltd.
Hangzhou Fist Chemical Co., Ltd.
Guizhou Lantian Chemical Co., Ltd.
Zhejiang Lantian Environmental Protection Hi-Tech Co., Ltd.
Zhejiang Lantian Environmental Protection Fluoro Materials Co., Ltd.
Zhejiang Lansol Fluorchem Co., Ltd.
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.
SC declined to release its banking details.
SC refused to release its financial information.
SC is considered large-sized in its line with a development history of 8
years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.23 |
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1 |
Rs.101.68 |
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Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.