MIRA INFORM
REPORT
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Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
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Name : |
ROGO INDUSTRIAL
SHANGHAI CO., LTD. |
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Registered Office : |
Room 1604,
11# Building, Baoliancheng, Lane 803 Shuangcheng Road, Baoshan District,
Shanghai 200940 Pr |
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Country : |
China |
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Date of Incorporation : |
25.11.2013 |
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Com. Reg. No.: |
310115002206654 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Engaged in selling metal materials, machinery and equipment as well as
parts, motorcycle accessories, hardware tools, electrical equipment, sanitary
equipment, instruments, rubber products, handicrafts, textiles, garments and
surface materials, textile raw materials, electronic products, stationery,
toys, department stores, furniture, lamps, chemical raw materials and
products, edible agricultural products; investment management; importing and
exporting goods and technology; technology development, technology
consulting, technology services, and technology transfer of electrical
technology; enterprise management consulting, business consulting, investment
consulting. Subject
product ranges includes coated steel sheet
& galvanized steel sheet. |
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No of Employees : |
10 (approximately) |
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
|
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, creation of a diversified banking system, development of stock
markets, rapid growth of the private sector, 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 it
considers important to "economic security," explicitly looking to
foster globally competitive national champions. After keeping its currency
tightly linked to the US dollar for years, in July 2005 China revalued its
currency by 2.1% against the US dollar and 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. 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. Debt overhang from its credit-fueled stimulus program in 2008-10,
particularly among local governments, and soaring property prices challenge
policy makers currently. Their efforts to cool a red-hot property market in
2011 appear to have curbed inflation, but contributed to slower GDP growth in
2012 and 2013. Slow recovery in Europe and other key export markets have also
retarded growth. The government's 12th Five-Year Plan, adopted in March 2011,
emphasizes continued economic reforms and the need to increase domestic
consumption in order to make the economy less dependent on fixed investments
and exports in the future. 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 & address
ROGO INDUSTRIAL
SHANGHAI CO., LTD.
room 1604, 11# building, baoliancheng, lane 803 shuangcheng road
baoshan district, shanghai 200940 PR CHINA
TEL: 86 (0) 21-61179338
FAX: 86 (0) 21-61179339
EXECUTIVE SUMMARY
Date of Registration : November 25, 2013
REGISTRATION NO. : 310115002206654
LEGAL FORM : One-person Limited Liability Company
CHIEF EXECUTIVE : zhao jiahui (LEGAL
REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 1,000,000
staff : 10
BUSINESS CATEGORY :
TRADING
Revenue :
N/A
EQUITIES : N/A
WEBSITE : www.rogochina.com
E-MAIL :
sales@rogosteel.com
PAYMENT : AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
FAIR
GENERAL REPUTATION : FAIR
EXCHANGE RATE : CNY 6.24 = 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
LEGAL STATUS & HISTORY
SC was
established as one-person limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 310115002206654 on November 25, 2013.
SC’s Organization Code Certificate No.:
08407817-0
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 |
|
Zhao Jiahui |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Zhao
Jiahui |
|
Supervisor |
Zhao
Arui |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name
%
of Shareholding
Zhao Jiahui 100
MANAGEMENT
Zhao
Jiahui, Legal
Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2013 to present, working in SC as legal representative,
chairman and general manager
Supervisor
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Zhao Arui
BUSINESS OPERATION
***Note: SC started
its normal operation in 2014.
SC’s registered business scope includes selling metal
materials, machinery and equipment as well as parts, motorcycle accessories, hardware
tools, electrical equipment, sanitary equipment, instruments, rubber products,
handicrafts, textiles, garments and surface materials, textile raw materials,
electronic products, stationery, toys, department stores, furniture, lamps,
chemical raw materials and products, edible agricultural products; investment
management; importing and exporting goods and technology; technology
development, technology consulting, technology services, and technology
transfer of electrical technology; enterprise management consulting, business
consulting, investment consulting.
SC is
mainly engaged in selling metal materials.
SC’s
products mainly include: coated steel sheet &
galvanized steel sheet.
SC sources its products 100% from domestic market, mainly Shanghai. SC sells 80% of its products in domestic market, and 20% to overseas market
The
buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 10 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 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.
BANKING
The bank
information of SC is not filed in SAIC.
FINANCIALS
Established as a new company at the end of 2013, SC started its normal
operation in 2014, so its financials are not available at present.
CONCLUSIONS
SC is considered small-sized in its line with
a short business history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.86 |
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|
1 |
Rs.98.82 |
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Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
|
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Report Prepared
by : |
MNL |
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 |
|
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 |
-- |
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.