MIRA INFORM REPORT
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Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
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Name : |
GUANGZHOU
TAIYI HARDWARE PRODUCTS CO., LIMITED |
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Registered Office : |
No. 34 Road, Bomei, Dali Town,
Nanhai District, Foshan,
Guangdong Province 528231 PR |
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Country : |
China |
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Date of Incorporation : |
21.04.2008 |
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Legal Form : |
Private
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Line of Business : |
Engaged in exporting aluminum and PVC window & door
hardware |
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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 : |
--- |
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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) |
|
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
GUANGZHOU TAIYI HARDWARE PRODUCTS
CO., LIMITED
no. 34
road, bomei, dali town, nanhai district
foshan,
guangdong PROVINCE 528231 PR CHINA
TEL: 86
(0) 757-85599325
FAX: 86
(0) 757-85599325
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 telephone
number client provided is as follows,
Tel: 86
(0) 757-85599325
When we dialed the above telephone number, a gentleman answered the
phone. He admitted the given English name, and told us SC is registered in Hong
Kong, and its Chinese name in translation is “SC mainly operates in Foshan,
Guangdong Province PR China.
²
The gentleman
introduced the below information,
A.
SC is mainly engaged in exporting aluminum and PVC
window & door hardware.
B.
The products mainly include:
Friction
Hinge
Casement Window
Top-hang Window
Windbreak Stay
Support Arm
UPVC
Window Hardware
Pneumatic
parts
Fly
Screens
Steel
Reinforcement
Screw
Stainless Steel Screw
Ordinary Screw
Aluminium Window Hardware
Door
Control Hardware
Door
Hardware
Handrail
Fittings
Roller
shuttle
Furniture
Hardware
Window
Operator
A.
SC sources its products 100% from domestic market.
SC sells 100% to overseas market.
B.
SC’s website: www.frictionhinge.cn
SC’s
other contact ways,
SKYPE:
chinatwelve
E-mail:
taiyihardware@gmail.com & export@taiyihardware.com
The
Mobile Phone No.: 86 (0) 13527708516
SPOT
VISIT
No. 34
Road, Bomei, Dali Town, Nanhai District, Foshan, Guangdong Province 528231 PR
China
According to the gentleman, SC locates in the above.
REGISTRATION
During our check with Hong
Kong Registry, we found the following registration about SC,
Company Name: Guangzhou Taiyi Hardware Products Co.,
Limited
Company File No.: 1229365
Date of Registration: April 21, 2008
Legal Form: Private
Status: Live
CONCLUSIONS
SC is considered small-sized in its line with 6 years business history.
Credit dealings with SC should be confined into small amount at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.03 |
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|
1 |
Rs.101.96 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.