MIRA INFORM REPORT
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Report Date : |
27.11.2014 |
IDENTIFICATION DETAILS
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Name : |
HENGSHUI ORIENT TRADE CO., LTD. |
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Registered Office : |
1-2-1305 Fuxingyuan |
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Country : |
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Date of Incorporation : |
08.01.2014 |
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Com. Reg. No.: |
131102000015372 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
Engaged in wholesaling, retailing, importing and exporting hardware,
arts & crafts, other chemical products, knitting goods & textile,
grocery, household electrical appliance, general machinery, electronic
products, computer & peripheral equipment, communication terminal
equipment, electrical equipment, auto parts, building materials, metal
products, plastic products, and chemical fertilizer. |
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No of Employees : |
05 (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 – 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 & address
Hengshui
Orient Trade Co., Ltd.
1-2-1305 FUXINGYUAN NO. 161 RONGHUA STREET
taocheng district, hengshui, hebei province
053000 PR CHINA
TEL: 86 (0) 15694927852
FAX: n/a
EXECUTIVE SUMMARY
Date of Registration : january 8, 2014
REGISTRATION NO. : 131102000015372
LEGAL FORM : one-person Limited liabilities company
CHIEF EXECUTIVE : chang lifang (LEGAL
REPRESENTATIVE)
REGISTERED CAPITAL :
cny 1,000,000
staff :
5
BUSINESS CATEGORY :
trading
Revenue : n/a
EQUITIES : n/a
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : Unknown
MARKET CONDITION : CURRENTLY REMAINS TO BE
OBSERVED
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : FAIR
EXCHANGE RATE : CNY 6.12 = 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.: 131102000015372 on January 8,
2014.
SC’s Organization Code Certificate
No.: 08942811-7
SC’s registered capital: cny 1,000,000
SC’s paid-in capital: cny 1,000,000
Registration Change Record:-
|
Date |
Change
of Contents |
Before
the change |
After the change |
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2014-06-13 |
Registered Address |
6-1-602, Zhitinglan 1st
Zone, No. 888 Zhonghua South Street, Taocheng District, Hengshui, Hebei
Province |
1-2-1305 Fuxingyuan No. 161 Ronghua
Street Taocheng District, Hengshui,
Hebei Province |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Chang Lifang |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman
and General Manager |
Chang Lifang |
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Supervisor |
Wang Guojun |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name
%
of Shareholding
Chang Lifang 100
MANAGEMENT
Chang
Lifang, Legal
Representative, Chairman and General Manager
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Ø
Gender: F
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman and general manager
Wang Guojun, Supervisor
--------------------------------------------
Ø
Gender: M
BUSINESS
OPERATION
SC’s registered business scope includes wholesaling, retailing,
importing and exporting hardware, arts & crafts, other chemical products,
knitting goods & textile, grocery, household electrical appliance, general
machinery, electronic products, computer & peripheral equipment,
communication terminal equipment, electrical equipment, auto parts, building
materials, metal products, plastic products, and chemical fertilizer.
SC is
mainly engaged in international trade.
SC’s
products mainly include: chemicals
SC sources its products 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.
Staff & Office:
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SC is
known to have approx. 5 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 local SAIC.
FINANCIALS
Established as a new company in 2014, SC’s financials are not available
at present.
CONCLUSIONS
SC was established recently in 2014, and its credit has not been
established yet.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.87 |
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UK Pound |
1 |
Rs.97.23 |
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Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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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 |
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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 |
-- |
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.