MIRA INFORM REPORT
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Report Date : |
13.09.2014 |
IDENTIFICATION DETAILS
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Name : |
HEBEI ANBANG
INDUSTRY CO., LIMITED |
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Registered Office : |
Jinbaijia Industrial Zone, |
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Country : |
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Date of Incorporation : |
28.01.2011 |
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Com. Reg. No.: |
1557577 |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Subejct is products mainly include: float glass,
sheet glass, patterned glass and mirror. |
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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 : |
Not Registered in China |
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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 01, 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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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
HEBEI ANBANG
INDUSTRY CO., LIMITED
jinbaijia industrial ZONE, shahe CITY, xingtai,
hebei PROVINCE, 054100 PR CHINA
TEL: 86 (0)
15233942296 FAX: N/A
Narrative report:
This refers to a type of report whose format
is different from that of a standard report. Such type of report is provided
when:
l Information
obtained is insufficient for compiling a standard report.
l The enquired co
has been out of business or its business address has been untraceable.
It should be noted that the time and
manpower spent on preparing such type of report might be greater than those on
a standard report. On many occasions, the information in this type of report
still indicates the current status of the enquired co. and serves as a useful
reference to assess its credit standing.
The telephone number clients provided is
86 (0) 319-5019022
We dialed the above tel. no. many times, but it can’t be connected. From
internet, we found a mobile phone no. – 15233942296.
When we dialed the above mobile phone number, a male Mr. Wang answered.
He confirmed that his company is with the given name, and released the heading
Chinese name and the following:
SC is registered in Hong Kong, but mainly operating in Shahe City, Xingtai,
Hebei Province.
It is mainly engaged in selling glass and mirror, and its products are
exported to India and Pakistan.
The given tel. no. belongs to SC.
E-mail: 280952416@qq.com
However he refused to release any more information about his company,
and also refused any means of interview.
The address client provided is: NO. 5, 5
JINBAIJIA INDUSTRY DISTRICT SHAHE CITY CHINA
According to Mr. Wang, SC is now operating at the above address, but he
declined to release the detailed road name.
In
Hong Kong Companies Registry, we found the following information:
CR No.: 1557577
Company Name: HEBEI
ANBANG INDUSTRY CO., LIMITED
Company Type: Private Company Limited By Shares
Date of
Incorporation: 28-JAN.-2011
Active Status: Live
Careful
investigations were made with the Xingtai Municipal and Hebei Provincial
Administration for Industry and Commerce (the authority that issuing and
renewing business license), and no record of SC was found.
From
internet, we found SC’s website:
According
to the above website, SC’s products mainly include: float glass, sheet glass,
patterned glass and mirror.
SC is registered in
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.84 |
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UK Pound |
1 |
Rs.98.73 |
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Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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.