MIRA
INFORM REPORT
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Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
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Name : |
UNIBEST
INDUSTRIAL CO., LTD. |
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Registered Office : |
15F, COB, Century
Oriental Plaza, Jiangdong District, Ningbo City, Zhejiang, 315040
PR |
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Country : |
China |
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Date of Incorporation : |
12.05.2006 |
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Com. Reg. No.: |
330204000070805 |
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Legal Form : |
Limited
Liabilities Company |
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Line of Business : |
Subject includes low flash point liquid, median flash point liquid, high flash point liquid, spontaneous combustible articles, inflammable solid, flammable items in wet, oxidizing agent, organic peroxides, poisons, corrosives presenting acidic properties, other corrosives, corrosives presenting alkalinous properties; wholesale and retailing pre-packaged food and bulk food. Importing and exporting goods and technologies, excluding goods or technologies limited or forbidden by state; wholesale and retailing mineral products, building materials, chemical products, cultural & sports goods & equipment, textile raw materials & products, garments, articles of daily use, native products, machinery equipment, metal products, hardware & electrical materials, electronic products, auto spare parts; information consultant services. |
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No. of Employees |
20 |
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 : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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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
15F, COB, century
oriental plaza,
jiangdong district,
ningbo city,
zhejiang, 315040 PR
CHINA
TEL: 86 (0)
574-27855666/27855665
FAX: 86 (0) 574-27856789
EXECUTIVE SUMMARY
INCORPORATION DATE : May 12, 2006
REGISTRATION NO. : 330204000070805
REGISTERED LEGAL FORM
: LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE : MR. cai hui (CHAIRMAN)
STAFF STRENGTH : 20
REGISTERED CAPITAL :
CNY 1,500,000
BUSINESS LINE : trading
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.243= 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 Renminbi
Note: the correct tel. no. shall be the heading one instead of the given one (0086-574-27255666).
SC also is known as Ningbo Unibest Industrial Co., Ltd.
SC was registered as a Limited Liabilities Company at local Administration for industry & commerce (AIC - the official body of issuing and renewing business license) on May 12, 2006.
Company Status: Limited liabilities co. This
form of business in PR China is defined as a legal person. No more than
fifty shareholders contribute its registered capital jointly. Shareholders
bear limited liability to the extent of shareholding, and the co. is liable
for its debts only to extent of its total assets. The characteristics of
this form of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The
board of directors is comprised of three to thirteen members. The
minimum registered capital for a co. is CNY 30,000. Shareholders
may take their capital contributions in cash or by means of tangible assets
or intangible assets such as industrial property and non-patented
technology. Cash
contributed by all shareholders must account for at least 30% of the
registered capital. Existing
shareholders have pre-exemption right to purchase shares of the co. offered
for sale by the other shareholders and to subscribe for the newly increased
registered capital of the co.
SC’s registered business scope includes low flash point liquid, median flash point liquid, high flash point liquid, spontaneous combustible articles, inflammable solid, flammable items in wet, oxidizing agent, organic peroxides, poisons, corrosives presenting acidic properties, other corrosives, corrosives presenting alkalinous properties; wholesale and retailing pre-packaged food and bulk food. Importing and exporting goods and technologies, excluding goods or technologies limited or forbidden by state; wholesale and retailing mineral products, building materials, chemical products, cultural & sports goods & equipment, textile raw materials & products, garments, articles of daily use, native products, machinery equipment, metal products, hardware & electrical materials, electronic products, auto spare parts; information consultant services.
SC is mainly engaged in international trade.
Mr. Cai Hui is legal representative, chairman and general manager of SC at present.
SC is known to have approx.20 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office in the commercial zone of Ningbo. The detailed information of the premise is unspecified.
www.unibestcn.com The design is professional and the content is well organized. At present it is in English version.
Email: info@unibestcn.com
No significant events or changes were found during our checks with the local Administration for Industry and Commerce.
Subject passed the annual inspection of 2012 with Administration for Industry & Commerce.
Organization Code: 786778999
Tax No.: 330204786778999
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name % of Shareholding
Ge Qicai
60
Ge Hailong 40
Legal representative,
Chairman and General Manager:
Mr. Cai Hui is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman and general manager
Supervisor:
Ge Hailong
SC is mainly engaged in international trade.
SC’s products mainly include chemicals, articles of daily use, textile products, machinery equipment, etc.
SC sources its materials 100% from domestic market. SC sells 100% of its products to overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note: SC refused to release its major suppliers and clients.
According to the above website:
Unibest Biopharma (Shanghai) Co., Ltd.
==================================
Reg. No.: 310104000368956
Legal representative: Xue Xiaoping
Incorporation date:
Xi’an Caijing Opto-Electrical Science & Technology Co., Ltd.
==================================
Reg. No.: 610132100009552
Legal representative: Zhang Lianshe
Incorporation date:
Overall payment appraisal :
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) 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 : 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.
SC refused to release its banking information.
SC refused to release its financial information.
SC is considered small-sized in its line with a development history of 8 years. Taking into consideration of SC’s operation size and development history we would rate SC as an above average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.03 |
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1 |
Rs.98.91 |
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Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
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Analysis Done by
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SUM |
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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.