MIRA INFORM REPORT
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Report Date : |
21.10.2014 |
IDENTIFICATION DETAILS
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Name : |
SANSHUI KONVEN TRADING COMPANY LIMITED OF
FOSHAN |
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Registered Office : |
No. 26, Yuanlin Road, Xinan Street, Sanshui District, Foshan,
Guangdong Province, 528100 Pr |
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Country : |
China |
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Date of Incorporation : |
31.08.2000 |
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Com. Reg. No.: |
440683000024126 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling crafts (excluding gold, silver), stationery, home appliances,
chemical products (excluding dangerous chemicals), paper, textiles, metal products,
building materials, steel, agricultural products, importing and exporting
goods and technologies (excluding otherwise provided by laws and
regulations). |
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No of Employees : |
15 |
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
China |
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 |
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
SANSHUI KONVEN TRADING COMPANY LIMITED OF FOSHAN
NO. 26, YUANLIN ROAD, XINAN STREET, SANSHUI DISTRICT,
FOSHAN, GUANGDONG PROVINCE, 528100 PR CHINA
TEL: 86 (0) 757-87719832 FAX:
86 (0)
757-87733593
EXECUTIVE
SUMMARY
INCORPORATION DATE : AUG. 31, 2000
REGISTRATION NO. : 440683000024126
REGISTERED LEGAL FORM : Limited
liabilities co.
CHIEF EXECUTIVE :
MR. CHEN JUN (CHAIRMAN)
STAFF STRENGTH :
15
REGISTERED CAPITAL : CNY 1,010,000
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 6.13 = 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 Ren Min Bi
SC was registered as a Limited
liabilities co. at local Administration for Industry & Commerce (AIC
- The official body of issuing and renewing business license) on Aug. 31, 2000.
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 crafts (excluding gold,
silver), stationery, home appliances, chemical products (excluding dangerous
chemicals), paper, textiles, metal products, building materials, steel,
agricultural products, importing and exporting goods and technologies
(excluding otherwise provided by laws and regulations).
SC is mainly engaged in selling baby supplies.
Mr. Chen Jun is the legal representative and chairman of SC at present.
SC is known to have approx. 15 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in Foshan. SC’s management declined to release
detailed information of the premise.
SC is not known to host website of its own at present.
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
Organization code: 724787769
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name Investment
amount % of Shareholding
Du Bingjia CNY
57,200 5.66
Liu Yonglin CNY
336,700 33.34
Chen Jun CNY
616,100 61
Legal
Representative and Chairman:
Mr. Chen Jun is currently responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman.
Directors:
Du Bingjia
Liu Yonglin
Supervisor:
Luo Ling
SC is mainly engaged in selling baby supplies.
SC’s products mainly include: baby supplies.
SC sources its materials 100% from domestic market. SC sells 10% of its
products in domestic market, and 90% to overseas market.
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’s
management declined to release its major clients and suppliers.
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.
SC’s management declined to release the bank information of SC.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a development history of
14 years. Taking into consideration of SC’s operating size as well as market conditions
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 |
|
US Dollar |
1 |
Rs.61.29 |
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|
1 |
Rs.98.62 |
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Euro |
1 |
Rs.78.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.