MIRA INFORM REPORT

 

 

Report Date :

10.10.2014

 

IDENTIFICATION DETAILS

 

Name :

MERCI GLOBAL LOGISTICS (BEIJING) CO., LTD.

 

 

Registered Office :

Room 908, Unit C, Building 2, Jiulongshan Jiayuan, Guangqu Road, Chaoyang District, Beijing, 100022 PR

 

 

Country :

China

 

 

Date of Incorporation :

03.09.2008

 

 

Com. Reg. No.:

110105011306376 

 

 

Legal Form :

One-Person Limited Liability Company

 

 

Line of Business :

Subject is engaged in providing international road freight forwarding; international trade; storage service.

 

 

No of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined

Payment Behaviour :

--

Litigation :

--

 

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

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

China

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

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.

 

Source : CIA

 

 

 

 

Company name & address

 

MERCI GLOBAL LOGISTICS (BEIJING) CO., LTD.

room 908, unit c, building 2, jiulongshan jiayuan, guangqu road, chaoyang DISTRICT, BEIJING, 100022 PR CHINA(REGISTERED ADDRESS)

TEL: N/A    

FAX: N/A

 

 

EXECUTIVE SUMMARY

 

INCORPORATION DATE                        : SEP. 3, 2008

REGISTRATION NO.                  : 110105011306376 

REGISTERED LEGAL FORM     : One-person Limited Liability Company

CHIEF EXECUTIVE                    : MR. XUE QI (CHAIRMAN)

STAFF STRENGTH                    : N/A

REGISTERED CAPITAL             : CNY 2,000,000

BUSINESS LINE                        : N/A

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 6.13 = 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

 

 

 

 

Rounded Rectangle: HISTORY 

 

 


SC was registered as a One-person Limited Liability Company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Sep. 3, 2008.

Company Status: One-person Limited Liability Company

Single person LLC refers to a limited liability company set up by only one natural person or legal person as the single shareholder of it.

The minimum registered capital of Single person LLC is CNY100,000. The shareholder’s capital contributes, as set out by the articles of associations should be a lump-sum payment in full.

One natural person can only invest in and set up one limited liability company, which is not permitted to invest in and set up a new Single person LLC.

As to any one-person limited liability company, the sole-investor nature of the natural person or legal person shall be indicated in the registration documents of the company and shall be indicated in the business license thereof as well.

The regulation of Single person LLC should be set up by the shareholder

The regulation of Single person LLC has no shareholder meeting.

 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SC’s registered business scope includes international road freight forwarding; international trade; storage service.

 

Mr. Xue Qi is registered as legal representative, chairman and general manager of SC.

 

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 and it could not be confirmed whether the company operates from the Registered Office address or the given location “16-7-301 Ruyili, Xicheng District, Beijing”.

 

Rounded Rectangle: WEB SITE 

 

 


SC is not known to host website of its own at present.

 

 

Rounded Rectangle: KEY EVENTS/RECENT DEVELOPMENT 

 

 

 


Changes of its registered information:

Date of change

Item

Before the change

After the change

2010-6

Legal representative

Wu Meijin

Present one

Shareholder

Wu Meijin 100%

Present one

 

Tax Registration Certificate No.: 110105679616265

Organization Code: 679616265

 

Rounded Rectangle: LITIGATION
 

 

 

 


For the past two years there is no record of litigation.

 

 

Rounded Rectangle: OWNERSHIP/MANAGEMENT BACKGROUND 

 

 

 


MAIN SHAREHOLDERS:

 
Name                                                                                                                                        % of Shareholding

 

Xue Qi                                                                                                               100

ID# 11010819860415****

 

 

Rounded Rectangle: MANAGEMENT 

 

 


l         Legal representative, chairman and general manager:

Mr. Xue Qi, ID# 11010819860415****, born in 1986, with university education.

 

l         Supervisor:

Zhang Yongli, ID# 11010819680720****

 

 

Rounded Rectangle: BUSINESS OPERATIONS BACKGROUND  

 

 


We are unable to contact with SC. We dialed the given no. “010-62279483”, but this no. does not exist at present. And we dialed the given fax no. “010-58850646”, but no one answered during office hours. Then we dialed no. “010-87728736/84301578”, but both of them do not exist.

 

Exhausting our efforts, we are unable to find SC’s telephone number in various information sources, including the internet, yellow pages and telecom companies.

 

We are unable to contact SC. Therefore, the nature and extent of SC’s operations could not be determined.

 

 

Rounded Rectangle: RELATED COMPANIES BACKGROUND  

 

 


SC is not known to have any subsidiary at present.

Rounded Rectangle: PAYMENT BACKGROUND  

 

 


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.

 

 

Rounded Rectangle: BANKING BACKGROUND  

 

 


The bank details of SC are not available at present.

 

 

Rounded Rectangle: FINANCIAL HIGHLIGHTS BACKGROUND  

 

 


Failing to contact SC, SC’s financial reports are not available at present.

 

 

Rounded Rectangle: REMARKS BACKGROUND  

 

 


Despite having exhausted all our effort, we are unable to contact SC. If further contact details of SC can be provided, we will definitely continue this research.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.04

UK Pound

1

Rs.98.64

Euro

1

Rs.77.74  

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SMN

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.