MIRA
INFORM REPORT
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Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
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Name : |
DALIAN ECONOMIC AND TECHNOLOGICAL DEVELOPMENT ZONE XING HAI MACHINE KNIFE CO., LTD. |
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Registered Office : |
No. 25 Fuquan North Road, Dalian Economic And Technological Development Zone, Liaoning Province, 116600 PR |
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Country : |
China |
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Date of Incorporation : |
20.02.1989 |
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Com. Reg. No.: |
210241400003314 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Subject is engaged in the manufacturing
machine tools and knives, importing and exporting goods and technologies |
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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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Exist |
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
DALIAN
ECONOMIC AND TECHNOLOGICAL DEVELOPMENT ZONE XING HAI MACHINE KNIFE CO., LTD.
NO. 25 FUQUAN NORTH ROAD, DALIAN ECONOMIC AND TECHNOLOGICAL DEVELOPMENT
ZONE, LIAONING PROVINCE, 116600 PR CHINA
(REGISTERED ADDRESS)
TEL: N/A
FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : FEB. 20, 1989
REGISTRATION NO. :
210241400003314
REGISTERED LEGAL FORM : WHOLLY
FOREIGN-OWNED ENTERPRISE
CHIEF EXECUTIVE :
FUMIAKI ITO (LEGAL REPRESENTATIVE)
STAFF STRENGTH : N/A
REGISTERED CAPITAL : USD 9,000,000
REGISTERED BUSINESS LINE :
MANUFACTURING AND TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
NOT YET DETERMINED
MARKET CONDITION : N/A
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : NOT YET DETERMINED
EXCHANGE RATE :
CNY 6.2397=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 Ren Min Bi
Note: SC’s complete name shall be the heading one instead of the given
one.
SC was registered as a wholly foreign-owned enterprise at local
Administration for Industry & Commerce (AIC-The official body of issuing
and renewing business license).
Company Status: Wholly
foreign-owned enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered business scope includes manufacturing machine tools and knives, importing and exporting goods and
technologies (with permit if needed).
Fumiaki Ito is registered as legal representative and chairman of SC.
From internet, telecom companies and SC’s own website, we found many
telephone numbers
(0411-87652758/87653396/87653096/87653397/87653184/87654217/87654335/87654737/
87654217) but no one answered the above phone numbers during office
hours. It is therefore not possible to contact the company directly to obtain
further information. The nature and extent of the company's operations could
not be determined and it could not be confirmed whether the company operates
from the Registered Office address or in another location.
http://www.xhknife.com The design is
professional and the content is well organized. At present it is in Chinese and
English versions.
Email: xinghai@xhknife.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
Organization Code: 604814363
See below for SC as executive party (defendant).
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SC |
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Court |
Dalian Economic and Technological Development
Zone People's Court |
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Date of Case |
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Case Number |
(2014) 01437 |
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Claim Amount |
RMB 1,068,581.4 |
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Case Status |
In process |
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Executed Party |
SC |
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Court |
Dalian Economic and Technological Development Zone People's Court |
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Date of Case |
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Case Number |
(2014) 01248 |
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Claim Amount |
RMB 327,453 |
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Case Status |
In process |
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Executed Party |
SC |
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Court |
Dalian Economic and Technological Development Zone People's Court |
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Date of Case |
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Case Number |
(2014) 01247 |
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Claim Amount |
RMB 3,417,834.5 |
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Case Status |
In process |
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Executed Party |
SC |
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Court |
Dalian Economic and Technological Development Zone People's Court |
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Date of Case |
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Case Number |
(2014) 01180 |
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Claim Amount |
RMB 1,499,208 |
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Case Status |
In process |
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Executed Party |
SC |
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Court |
Dalian Economic and Technological Development Zone People's Court |
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Date of Case |
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Case Number |
(2014) 01251 |
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Claim Amount |
RMB 13,487.45 |
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Case Status |
In process |
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Executed Party |
SC |
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Court |
Dalian Economic and Technological Development Zone People's Court |
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Date of Case |
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Case Number |
(2014) 01136 |
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Claim Amount |
RMB 1,513,874.6 |
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Case Status |
In process |
Remark: Due to the lack of information, we are unable to provide the cause of
action, judgment or other information.
MAIN SHAREHOLDERS:
Name %
of shareholdings
(Japan) Kimura Knife & Saw MFG. Co., Ltd. 69.22
Miyagawa Koki Co., Ltd. (Japan) 22.62
Weilian Luonijisi (in Chinese Pinyin) (American) 3.83
Meinan Machinery Works, Inc. (Japan) 2.30
Wu Duoguo (Taiwanese) 1.15
Kato Steel Co., Ltd. (Literal Translation) (Japan) 0.88
(Japan) Kimura Knife & Saw MFG. Co., Ltd.
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Date established: May 25, 1911
Address:
Head Office: 15-13 Shioiricho Mizuhoku Nagoya 467-8581 Japan
International Dept.: 18-11 Minamicho Koshigaya Saitama 343-0832 Japan
Phone: +81-489-895597
Fax: +81-489-895598
E-mail: international@kimura-knife.co.jp
Miyagawa Koki Co., Ltd. (Japan)
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Web: http://www.miyagawakoki.co.jp/
Tel.: 0532-31-1251
Fax: 0532-34-1956
Meinan Machinery Works, Inc. (Japan)
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Add.: No.3-130 Kajita-cho. Obu-shi. Aichi-ken. Japan
Tel.: (562)47-2211
Fax: (562)48-7300
Email: sales@meinan.co.jp
Legal Representative and Chairman:
Fumiaki Ito
Also working in (Japan) Kimura Knife & Saw MFG. Co., Ltd. as
representative.
General Manager and Director:
Mr. Lin Kexin
From internet, telecom companies and SC’s own website, we found many
telephone numbers
(0411-87652758/87653396/87653096/87653397/87653184/87654217/87654335/87654737/
87654217) but no one answered the above phone numbers during office
hours.
It is not possible to contact the company directly to obtain further
information. The nature and extent of the company's operations could not be
determined.
SC is not known to have
any subsidiary at present.
Overall payment appraisal: ( )
Excellent ( ) Good
( ) Average (
) Fair ( ) Poor
(X) 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: N/A
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.
No banking information
was found.
No financial information was found.
Despite having exhausted all our effort, we are unable to contact SC, so
precise credit estimate can not be made at present. If further contact details of SC can be provided, we will definitely
continue this research.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.73 |
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1 |
Rs.100.82 |
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Euro |
1 |
Rs.82.22 |
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.