MIRA
INFORM REPORT
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Report Date : |
22.11.2014 |
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Tel. No.: |
0510-88709135 |
IDENTIFICATION DETAILS
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Name : |
WUXI S-BLUE STAR CORPORATION |
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Registered Office : |
Room 701-702, No. 2-3, |
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Country : |
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Date of Incorporation : |
24.01.2005 |
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Com. Reg. No.: |
320205000072758 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Mainly Engaged in International Trade |
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No. of Employees : |
7 |
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 : |
Moderate |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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
WUXI S-BLUE STAR CORPORATION
ROOM 701-702, NO. 2-3, DONGTING MIDDLE ROAD, DONGTING TOWN,
XISHAN DISTRICT, WUXI, JIANGSU PROVINCE 214101 PR CHINA
TEL: 86
(0) 510-88709135
FAX: 86 (0) 510-88217970
EXECUTIVE SUMMARY
INCORPORATION DATE : JAN. 24, 2005
REGISTRATION NO. : 320205000072758
REGISTERED LEGAL FORM : LIMITED LIABILITIES
COMPANY
CHIEF EXECUTIVE :
MR. YU XIAOYONG (CHAIRMAN)
STAFF STRENGTH :
7
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
INTERNATIONAL TRADe
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.12 =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 is also known as Wuxi S-Blue Star Imp & Exp
Corporation.
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 Jan. 24, 2005.
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 selling metal materials,
machinery parts, optical instrument, glasses parts, knitting and textile
products, daily used goods, common machinery and plastic products; importing
and exporting the above stated products.
SC is mainly engaged in international trade.)
Mr. Yu Xiaoyong) has been the legal representative, chairman and general
manager of SC since 2005.
SC is known to have approx. 7 employees
at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Wuxi. Our checks reveal
that SC rents the total premise about 150 square meters.
http://www.sbstube.com The design is
professional and the content is well organized. At present it is in English
version.
E-mail: sales@sbstube.com
Changes of its
registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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Unknown |
Shareholdings |
Chen Gong 25% Yu Xiaoyong 30% Zhang Qi 20% Zhu Haiping 25% |
Present ones |
Organization code: 77053621-5
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Yu Xiaoyong 55
Zhu Haiping ID# 32022219751117**** 45
Legal
representative, chairman and general manager:
Mr. Yu Xiaoyong , born in 1974. He is currently responsible for the
overall management of SC.
Working Experience(s):
From 2005 to present Working
in SC as legal representative, chairman and general manager.
Supervisor:
Zhu Haiping
SC is mainly engaged in international trade.
SC’s products mainly include:
Seamless Carbon Steel Pipe/Tube
Seamless Stainless
Steel Tube/Pipe
Cylinder Tube
Piston Rod/Chrome Bar
Tube Components
SC sources its materials 100% from domestic market. SC sells 100% of its
products to the overseas market, mainly American and European countries.
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.
Note:
SC declined to release its major suppliers and clients.
Trademark & Patents
No record
SC is not known to have any subsidiary at present.
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.
Bank of China Xishan Sub-branch
AC#：33134808091001
Relationship: Normal.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a development history of 9
years. Due to lack of financial status, we are unable to recommend accurate
credit limit for SC. Taking into consideration of SC’s development history and
operation size 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.61.85 |
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UK Pound |
1 |
Rs.97.01 |
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Euro |
1 |
Rs.77.62 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
SHG |
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.