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Report Date : |
13.10.2014 |
IDENTIFICATION DETAILS
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Name : |
GUIZHOU HANDIER IMPORT & EXPORT TRADING CO., LTD. |
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Registered Office : |
No. 9, 12/F, Unit 4, Main Tower, No. 4, Guizhou International Mall,
No. 196 Fushui South Road, Nanming District, Guiyang, Guizhou Province 550002
Pr |
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Country : |
China |
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Date of Incorporation : |
11.06.2014 |
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Com. Reg. No.: |
520102000646570 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in selling electronic products, hardware, textiles,
machinery parts; machinery technology parts; import and export trade |
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No of Employees : |
3 |
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
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 |
GUIZHOU HANDIER IMPORT & EXPORT TRADING CO., LTD.
NO. 9, 12/F, UNIT 4, MAIN TOWER, NO. 4, GUIZHOU INTERNATIONAL MALL
NO. 196 FUSHUI SOUTH ROAD, NANMING DISTRICT, GUIYANG
GUIZHOU PROVINCE 550002 PR CHINA
TEL: 86 (0) 851-8524947
FAX: N/A
Date of Registration : June 11, 2014
REGISTRATION NO. : 520102000646570
LEGAL FORM : Limited Liability Company
CHIEF EXECUTIVE :
Yi Xianjun (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 500,000
staff :
3
BUSINESS CATEGORY : TRADING
Revenue :
N/A
EQUITIES :
N/A
WEBSITE : www.chinahandier.com
E-MAIL : admin@chinahandier.com & Chinahdr-mu@188.com
PAYMENT :
Not yet be determined
MARKET CONDITION : currently remains to be observed
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : Not yet be
determined
GENERAL REPUTATION : Not yet be
determined
EXCHANGE RATE :
CNY 6.14 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
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
Not yet be determined
SC was established as a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 520102000646570 on June 11, 2014.
SC’s Organization Code Certificate No.:
30877646-2
SC’s Tax No.: 33068171619500X
SC’s Import and Export No.: 520030877646-2
SC’s registered capital: CNY 500,000
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 |
|
Hu Jianming |
100 |
|
Yi Xianjun |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Yi Xianjun |
|
Supervisor |
Hu Jianming |
No recent development was found during our checks at present.
Name %
of Shareholding
Hu Jianming
Yi Xianjun
----------------
The above 2 individuals 100
***Note: The
detailed % of shareholding information for SC is not filed in local SAIC.
Yi Xianjun , Legal Representative, Chairman and General
Manager
--------------------------------------------------------------------------------------------------
Gender: M
Qualification: University
Working experience (s):
At present, working in SC as legal representative, chairman and general
manager
Hu Jianming,
Supervisor
--------------------------------------------
Gender: M
Qualification: University
Working experience (s):
At present, as supervisor of SC
SC’s registered business scope includes selling
electronic products, hardware, textiles, machinery parts; machinery technology
parts; import and export trade (excluding those limited or prohibited by the
state) (if needed with permit).
SC has not started its normal operation yet. According to SC’s staff, SC
is going to be engaged in importing and exporting machinery and high voltage
power transmission. And SC is searching for clients at present.
Staff &
Office:
--------------------------
SC is known to have approx. 3
staff at present.
SC rents an area as its operating office, but the detailed information
is unknown.
SC is not known to have any subsidiary at present.
Overall payment appraisal: ( ) Excellent ( ) Good ( ) Average ( ) Fair ( ) Poor (X) 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: Not available.
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.
The bank information of SC is not filed in SAIC.
Established as a new company in 2014, SC’s financials are not available
in local SAIC.
SC was established recently in 2014, and its credit has not been
established yet.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.77.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.