MIRA INFORM REPORT
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Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI
WINKAY TRADING CO., LTD. |
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Registered Office : |
Unit 1312, No. 1289 Pudong South
Road, Pudong New Area, Shanghai
210009 PR |
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Country : |
China |
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Date of Incorporation : |
26.06.2003 |
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Com. Reg. No.: |
310115000771998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject includes operating and
acting as an agent of importing and exporting various kinds of commodities
and technology, excluding the goods forbidden by the government; selling
mechanical and electrical products, metallurgical charge, metal materials and
products, wood products, rubber and products, leather products, chemical raw
materials and products, textile raw materials and products, fuel oil,
department stores, and hardware, providing
related business advisory services; selling pre-packaged food. |
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No. of Employees |
7 |
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
|
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
|
Source
: CIA |
Company
name and address
SHANGHAI WINKAY TRADING CO., LTD.
unit
1312, no. 1289 pudong south road, pudong new area
shanghai
210009 PR CHINA
TEL: 86
(0) 21-9681096x30813/58878463
FAX: 86
(0) 21-68874335
EXECUTIVE
SUMMARY
Date of Registration : JUNe 26, 2003
REGISTRATION NO. : 310115000771998
LEGAL FORM : Limited Liability Company
REGISTERED CAPITAL : CNY 1,000,000
staff : 7
BUSINESS CATEGORY : TRADING
Revenue :
N/A
EQUITIES :
N/A
WEBSITE : N/A
E-MAIL :
winkay@126.com
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : Ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.25 = USD 1
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL
TREND & GENERAL REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL
STATUS & HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 310115000771998 on June 26, 2003.
SC’s Organization Code Certificate
No.: 75187919-1
SC’s registered capital: CNY 1,000,000
SC’s paid-in capital: CNY 1,000,000
Registration Change Record:-
No significant changes of SC have been
noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Dong Yalong |
75 |
|
Li Jingjing |
25 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Dong Yalong |
|
Supervisor |
Li Jingjing |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Dong Yalong 75
Li Jingjing 25
MANAGEMENT
Dong Yalong, Legal
Representative, Chairman and General Manager
-----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age:
Ø Qualification: University
Ø Working experience
(s):
From
2003 to present, working in SC as legal representative, chairman and general
manager
Supervisor
--------------
Li Jingjing
BUSINESS
OPERATION
SC’s registered business scope includes operating and
acting as an agent of importing and exporting various kinds of commodities and
technology, excluding the goods forbidden by the government; selling mechanical
and electrical products, metallurgical charge, metal materials and products,
wood products, rubber and products, leather products, chemical raw materials
and products, textile raw materials and products, fuel oil, department stores,
and hardware, providing related business
advisory services; selling pre-packaged food.
SC is
mainly engaged in international trade.
SC’s
products mainly include: metallurgical charge, metal materials, etc.
SC sources its products 80% from domestic market, and 20% from overseas market. SC sells 20% of its products in domestic market, and 80% to overseas market, mainly USA, Europe, Mid East, Southeast Asia, etc.
The
buying terms of SC include T/T, L/C and Credit of 30-60 days. The payment terms
of SC include T/T, L/C and Credit of 30-60 days.
*Major Customers:
==============
Cocoyogurt Inc.
Areva T and D Inc.
*Major Supplier:
==============
Comercializadora
Global De Minas Y Minerales S.A.S
Staff & Office:
--------------------------
SC is
known to have approx. 7
staff at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED
COMPANY
SC is not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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’s supplier refused
to make any comments.
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.
BANKING
The bank
information of SC is not filed in SAIC.
***Note: SC’s
management declined to release whether it has account in bank of communications
Shanghai China.
FINANCIALS
The financials of SC is not available in
local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered small-sized in its line with
a development history of 11 years. Credit dealings with SC in small amount
appear acceptable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.20 |
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|
1 |
Rs.101.67 |
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Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
PDT |
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.