MIRA
INFORM REPORT
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Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
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Name : |
COSMOS TRADE INTERNATIONAL CO., LIMITED |
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Registered Office : |
Room 2906, Main Block, Changfeng Yuan, Chunfeng Road, Luohu District,
Shenzhen, Guangdong Province, 528002 PR |
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Country : |
China |
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Date of Incorporation : |
09.01.2014 |
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Com. Reg. No.: |
2023920 |
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Legal Form : |
Private Company Limited by
Shares |
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Line of Business : |
Subject is engaged in trading of frozen food products |
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No. of Employees : |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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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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 |
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
COSMOS TRADE
INTERNATIONAL CO., LIMITED
Room 2906, Main
Block, Changfeng Yuan,
chunfeng road, luohu
district, Shenzhen,
Guangdong Province,
528002 PR CHINA
TEL: 86 (0) 755-33647566/ 13823793015
FAX: 86 (0)
755-33349169
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:
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.
Note: SC’s complete fax no. should be the heading one
instead of the given “0755
The telephone number client given is 86 755-33647566.
We dialed the number
for many times during office hours, but no one answered.
From website http://cosmostradeintl.com, we found SC’s other mobile phone number 13823793015.
We dialed the number and one gentleman Mr. He answered the phone. From Mr. He we knew the following information on SC:
SC is registered in Hong Kong, and has no Chinese name; while it is operating in Shenzhen, mainland China.
SC is mainly engaged in trading of frozen food products.
SC is known to have approx. 6 employees at present, and SC will recruit staff in the future.
E-mail: cosmostradeintl@gmail.com (According to
Mr. He, the email address belongs to “Cosmos Trade International” United Arab
Emirates market.)
SC’s E-mail: china@cosmostradeintl.com
china.cosmostradeintl@gmail.com
The address client given is:
Unit 08 2906, Main Block, Changfeng Yuan, Chunfeng Road, Luohu District, Shenzhen, Guangdong Province
According to Mr. He, SC’s correct address should be the heading one which excluding the given “Unit 08”. SC is operating in this address, but he declined our request for a spot visit for it.
Since it is a practice for a company in China to register in Administration of Industry and Commerce (AIC) with a total set of required documents in CHINESE, we are unable to find its in local AIC according to its English name.
We’ll definitely go on with this report if its Chinese company name is available.
In HK Company Registry, we found the following registration information according to the given English name:
Cosmos Trade International Co., Limited
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Registration no.: 2023920
Registered legal form:
Private Company Limited by Shares
Incorporation date: 2014-1-9
According to Mr. He, SC is mainly engaged in trading of frozen food products, and SC sources its materials 100% from overseas market and sells 100% of its products in domestic market.
Business Information from website http://cosmostradeintl.com
============================================
SC’s products mainly include: Buffalo meat (Halal), Beef
(Halal), Poultry (Halal), Mutton (Halal), and Fish, Fruits, Vegetables, Spices,
Timber Logs and other products.
SC was established on Jan. 9, 2014 in Hong Kong and operating in Shenzhen, mainland China. Credit dealings with SC should be confined into C.O.D. at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.99 |
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1 |
Rs.101.75 |
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Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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 |
-- |
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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.