MIRA INFORM REPORT
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Report Date : |
22.10.2014 |
IDENTIFICATION DETAILS
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Name : |
YIHAI KERRY (BEIJING) TRADING CO., LTD. |
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Registered Office : |
15th Floor, Talent International Building No. 80 Guangqumennei Avenue
Dongcheng District, Beijing 100062 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
20.04.2011 |
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Com. Reg. No.: |
110000450171644 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Wholesale of pre-packaged foods, bulk foods, unprocessed grain;
wholesale and commission agents of industrial animal fats, oils, grease feed,
feed and additives, food additives, packaging materials, daily necessities,
chemical synthetic detergent; economic information consulting; importing and
exporting goods and technology, import export agent. |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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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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.
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Source
: CIA |
Company
name and address
YIHAI KERRY (BEIJING) TRADING
CO., LTD.
15TH FLOOR, TALENT INTERNATIONAL BUILDING NO. 80 GUANGQUMENNEI AVENUE
DONGCHENG DISTRICT, BEIJING 100062 PR CHINA
TEL: 86 (0) 10-52177117/52177136
FAX: 86 (0) 10-52177117
EXECUTIVE
SUMMARY
Date of Registration : april 20, 2011
REGISTRATION NO. : 110000450171644
LEGAL FORM : Wholly foreign-owned enterprise
CHIEF EXECUTIVE :
mu yankui (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : usd 5,000,000
staff :
50
BUSINESS CATEGORY : TRADING
Revenue :
CNY 554,830,000 (AS OF DEC. 31,
2013)
EQUITIES :
CNY 38,820,000 (AS OF DEC. 31, 2013)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
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
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
Not yet be determined
LEGAL
STATUS & HISTORY
SC was established as a wholly
foreign-owned enterprise of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 110000450171644
on April 20, 2011.
SC’s Organization Code Certificate No.:
56207503-9
%20TRADING%20CO%20,%20LTD%20%20-%20290849%2022-Oct-2014_files/image006.jpg)
SC’s Tax No.: 110101562075039
SC’s registered capital: usd 5,000,000
SC’s paid-in capital: usd 5,000,000
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 |
|
Yihai Kerry Investment Co., Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Mu Yankui |
|
General Manager |
Jiang Zhiyi |
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Director |
Hong Meiling |
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Supervisor |
Li Changping |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Yihai Kerry Investment Co., Ltd. 100
==================
Date of Registration: June 17, 2005
Registration No.: 310000400428228
Legal Form: Wholly Foreign-Owned
Enterprise
Chief Executive: Kuok Khoon Hong郭孔丰
Registered Capital: USD 566,711,900
MANAGEMENT
Mu Yankui, Legal Representative and Chairman
---------------------------------------------------------------------------
Gender: M
Nationality: China
Qualification: University
Working experience
(s):
From 2011 to present, working in SC as legal representative and
chairman, also working in Yihai Kerry (Beijing) Oils, Grains Foodstuffs
Industries Co., Ltd. as legal representative
Jiang Zhiyi,
General Manager
---------------------------------------------------
Gender: M
Nationality: China
Qualification: University
Working experience
(s):
At present, working in SC as general manager
Director
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Hong Meiling
Supervisor
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Li Changping
BUSINESS
OPERATION
SC’s registered business scope includes wholesale of
pre-packaged foods, bulk foods, unprocessed grain; wholesale and commission
agents of industrial animal fats, oils, grease feed, feed and additives, food
additives, packaging materials, daily necessities, chemical synthetic
detergent; economic information consulting; importing and exporting goods and
technology, import export agent.
SC is mainly engaged in selling oils, grease feed, feed and additives,
food additives.
SC’s products mainly include: oils, grease feed, feed and additives.
SC sources its products 100% from domestic market. SC sells 20% of its products in domestic market, and 80% to overseas market, mainly U.S.A., etc.
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.
*Major Customers:
==============
Specialty Commodities Inc
Buitrago Herrera USA
International Sprout Holdings, Inc.
Staff & Office:
--------------------------
SC is known to have approx. 50
staff at present.
SC rents an area as its operating office, but the detailed information
is unknown.
RELATED
COMPANY
Yihai Kerry (Beijing) Oils, Grains Foodstuffs Industries Co., Ltd.
Yihai Kerry (Beijing) Seed Science and Technology Co., Ltd.
Etc.
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 SAIC.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As of Dec. 31,
2013 |
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Total assets |
315,630 |
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Total liabilities |
276,810 |
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Equities |
38,820 |
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Revenue |
554,830 |
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Profits |
5,330 |
Important Ratios
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As of Dec. 31,
2013 |
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*Liabilities to assets |
0.88 |
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*Net profit margin (%) |
0.96 |
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*Return on total assets (%) |
1.69 |
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*Revenue/Total assets |
1.76 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears fairly good in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
LIQUIDITY: AVERAGE
SC’s revenue is in an average level, comparing with the size of its
total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Stable.
CONCLUSIONS
SC is considered medium-sized in its line with stable financial
conditions. A credit line up to USD 300,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.61.30 |
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|
1 |
Rs.99.16 |
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Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
SDA |
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.