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Report Date : |
23.09.2014 |
IDENTIFICATION DETAILS
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Name : |
ROHA DYECHEM
( |
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Registered Office : |
Plot No.
T4-2-4b, No. 278 Jinhu Road, Pudong, Shanghai 201206 Pr |
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Country : |
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Date of Incorporation : |
14.02.2001 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject is engaged in Importing Food Additive. Products Mainly Include: Natural Pigment |
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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 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 |
ROHA DYECHEM
(HONG KONG) LIMITED
PLOT NO.
T4-2-4B, NO. 278 JINHU ROAD, PUDONG, SHANGHAI 201206 PR CHINA
TEL: 86 (0)
21-55100206-806
FAX: 86 (0) 21-55100207
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.
------------------------------------------
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
According to the
internet sources, we found the following phone number,
Tel: 86 (0)
21-55100206-806
When we dialed the above phone number, a lady answered the phone. She
admitted the given English name, and told us SC’s Chinese name in translation
is “柔亚（香港）有限公司”, which is
registered in Hong Kong, but mainly operates in Shanghai, mainland China.
The lady
introduced the below information,
SC is mainly engaged in importing food additive.
SC’s products mainly include: natural pigment.
SC’s related companies (in Shanghai, mainland China),
ROHA Dyechem Shanghai Co. Ltd. (Factory)
ROHA Dyechem Shanghai Co. Ltd. (Trading Company)
***Note: The above related companies have the same English name, but
have the different Chinese names.
The lady told us SC’s registered address is the given one-Rooms 1801-3, 18th
floor, Tung Ning Building, 249-253 Des Voeux Road Central, Hong Kong, but SC
and SC’s related companies locate in the above stated address (Plot No. T
During our check with Hong Kong Registry, we found the following
registration about SC,
Company Name: Roha Dyechem
(Hong Kong) Limited
Company File No.: 0746848
Date of
Registration: February 14, 2001
Legal Form: Private
Status: Live
A research was conducted with Shanghai municipal State Administration of
Industry & Commerce (SAIC-the official body of issuing and renewing
business license), we found the registration information for SC’s related
companies,
Company Name: ROHA Dyechem Shanghai Co. Ltd. (Factory)
Registration No.: 310115400261080
Date of Registration: July 12, 2010
Legal Form: Wholly foreign-owned enterprise
Registered Capital: USD 200,000
Legal Representative: Ashish Brijmohan Kabra
ROHA Dyechem Shanghai Co. Ltd. (Trading Company)
---------------------------------------------------
Registration No.: 310115400149507
Date of Registration: April 29, 2004
Legal Form: Wholly foreign-owned enterprise
Registered Capital: USD 500,000
Legal Representative: Ashish Kabra
SC is considered small-sized in its line with 13 years history. Credit
dealings with SC should be confined into small amount at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.79 |
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|
1 |
Rs.99.30 |
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Euro |
1 |
Rs.78.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
-- |
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.