MIRA INFORM REPORT
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Report Date : |
27.10.2014 |
IDENTIFICATION DETAILS
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Name : |
FUZHOU RITONG INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
Room 201, Building 3, Kaixuan
Garden, No. 66 Shutang Road, Gulou District, Fuzhou City, Fujian Province,
350003 PR |
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Country : |
China |
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Date of Incorporation : |
08.12.2004 |
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Com. Reg. No.: |
350100100114863 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Exhausting our
efforts, we are unable to find SC’s other telephone number in various
information sources, including the internet, yellow pages and telecom
companies. [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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
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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
|
Source
: CIA |
Company
name and address
FUZHOU RITONG INTERNATIONAL TRADE CO., LTD.
ROOM 201, BUILDING 3, KAIXUAN GARDEN,
NO. 66 SHUTANG ROAD,
GULOU DISTRICT, FUZHOU CITY,
FUJIAN PROVINCE, 350003 PR CHINA
(REGISTERED ADDRESS)
TEL: N/A FAX: N/A
EXECUTIVE
SUMMARY
INCORPORATION DATE :
DEC. 8, 2004
REGISTRATION NO. :
350100100114863
REGISTERED LEGAL FORM : LIMITED
LIABILITIES CO.
STAFF STRENGTH : N/A
REGISTERED CAPITAL :
CNY 500,000
REGISTERED BUSINESS LINE: TRADING
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 6.12=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
Note: The given telephone
number (86-591-83422031) dose not belong to SC. No telephone listing was
founded, so we are unable to confirm the and the given fax number.
SC was registered as a
Limited liabilities co. at local Administration for Industry & Commerce
(AIC-The official body of issuing and renewing business license).
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 importing and exporting various goods and
technologies, excluding goods or technologies limited or forbidden by state.
(with permit if needed)
Zheng
Shibo is registered as legal representative and chairman of SC.
From
SC’s website, we found another two telephone numbers (0591-87859518 &
0591-87830292) and one cell phone number (86-01380-5060-808), but on one
answered during office hours.
No
other telephone listing could be found for the company. It is therefore 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 address or in another location.
http://www.stonechina.cn/gyjf.asp
The design is professional and the content is well organized. At present it is
in English version.
Email: paul@ritong.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
Organization code: 768581826
MAIN SHAREHOLDERS:
Name
% of shareholdings
Zheng Shibo 60
Huang Zhu 40
l
Legal Representative & Chairman:
Zheng Shibo
l
Supervisor:
Huang Zhu
Exhausting our
efforts, we are unable to find SC’s other telephone number in various
information sources, including the internet, yellow pages and telecom
companies.
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.
SC is not known to have
any subsidiary at present.
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.
The banking information cannot be found.
The financial information cannot be found.
Despite having exhausted all our effort, we are unable to contact SC, so
precise credit estimate can not be made at present. If further contact details of SC can be provided, we will definitely
continue this research.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.24 |
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1 |
Rs.98.67 |
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Euro |
1 |
Rs.77.97 |
INFORMATION DETAILS
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Analysis Done by
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SUM |
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Report Prepared
by : |
PDT |
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.