MIRA
INFORM REPORT
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Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
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Name : |
JIN KAI TAI ( |
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Registered Office : |
8/F, Building 2, Jia’an Technology Park, Liuxian 1st
Road, Baoan District, Shenzhen, Guangdong Province, 518133 Pr |
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Country : |
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Date of Incorporation : |
20.06.2013 |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Subject is engaged in Exporting Communication Equipment. |
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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 |
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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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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
JIN KAI TAI (HONG KONG) COMMUNICATION EQUIPMENT LIMITED
8/F, BUILDING 2, JIA’AN TECHNOLOGY
PARK, LIUXIAN 1ST ROAD, BAOAN DISTRICT, SHENZHEN, GUANGDONG
PROVINCE, 518133 PR CHINA
TEL: 86 (0) 755-33591328 FAX: 86 (0) 755-33591302
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:
Information obtained is insufficient for compiling a standard report.
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.
%20COMMUNICATION%20EQUIPMENT%20LIMITED%20-%20286296%2020-Sep-2014_files/image001.gif){kind=small}
The contact information acquired from internet is
Tel: 86 (0) 755-33591328
When we dialed the above phone number, a gentleman answered the phone. He
admitted the given name, and released the following information on SC:
---------------------------------------------------------------
*SC was registered in Hong Kong. All of its business is operating in
Shenzhen, Guangdong Province, mainland China.
*SC’s Chinese name is “金凱泰(香港)通訊設備有限公司”.
%20COMMUNICATION%20EQUIPMENT%20LIMITED%20-%20286296%2020-Sep-2014_files/image002.gif){kind=small}
The address client provided is:
8th Floor, Bldg 2, Jia'an Technologies Park, Liuxian 1st Rd Baoan
District Shenzhen
According to SC’s staff, SC is now operating at the above address
%20COMMUNICATION%20EQUIPMENT%20LIMITED%20-%20286296%2020-Sep-2014_files/image003.gif){kind=small}
According to the Chinese name released by SC, careful investigations
were made with Guangdong Provincial and Shenzhen Municipal Administration for
Industry and Commerce (AIC - The official body of issuing and renewing business
license), however, no record was found.
In Hong Kong Companies Registry, we found the following information:
Jin Kai Tai (Hong Kong) Communication Equipment Limited
============================================
CR No.: 1925665
Company Type: Private company
limited by shares
Date of Incorporation: 20-Jun.-2013
Active Status: Live
%20COMMUNICATION%20EQUIPMENT%20LIMITED%20-%20286296%2020-Sep-2014_files/image004.gif){kind=small}
According to SC’s staff, SC is mainly engaged in exporting communication
equipment.
%20COMMUNICATION%20EQUIPMENT%20LIMITED%20-%20286296%2020-Sep-2014_files/image005.gif){kind=small}
Shenzhen Neoka Communication Technology Co., Ltd.
========================================
Incorporation Date:
Registration No: 440301105169669
Legal representative: Wang Yikun
Website: http://www.neoka.com.cn/
According to SC’s staff, SC has a related factory registered in local
AIC:
Shenzhen Jinkaitai Communication Equipment Co., Ltd. (In Chinese Pinyin)
========================================
Incorporation Date:
Registration No: 440301103492576
Legal Form: Limited liabilities co.
Legal representative: Wang Fenghui 王枫晖
Add: 5/F, Building 1, Jia'an Technology Park, Liuxian 1st
Road, Baoan District, Shenzhen
Website: http://www.gdgob.com/
%20COMMUNICATION%20EQUIPMENT%20LIMITED%20-%20286296%2020-Sep-2014_files/image006.gif){kind=small}
SC was registered in Hong Kong and operating in Shenzhen, mainland
China. Considering the above investigation results,
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.60.81 |
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1 |
Rs.100.06 |
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Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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 |
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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.