MIRA INFORM REPORT
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Report No. : |
319219 |
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Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
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Name : |
DIRECT LOGISTICS CHINA LTD. |
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Registered Office : |
Room 707, Block A, World Trade Plaza, Fuhong Road, Futian District,Shenzhen
City, Guangdong Province, 518033 Pr |
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Country : |
China |
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Date of Incorporation : |
15.07.2005 |
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Com. Reg. No.: |
440301503293233 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employee : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. In 2014 the People’s Bank of China (PBOC) doubled 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 2014 stood as the largest economy in the world, surpassing the US that year� 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; � 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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. In 2014 China agreed to begin
limiting carbon dioxide emissions by 2030. China implemented several economic
reforms in 2014, including legislation allowing local governments to issue
bonds, further opening several state-owned enterprises to private investment,
loosening the one-child policy, passing harsher pollution fines, and cutting
administrative red tape.
|
Source
: CIA |
Company
name and address
DIRECT LOGISTICS CHINA LTD.
ROOM 707, BLOCK A, WORLD TRADE PLAZA, FUHONG
ROAD, FUTIAN DISTRICT,SHENZHEN CITY, GUANGDONG PROVINCE, 518033 PR CHINA
(REGISTERED ADDRESS)
TEL: N/A FAX:
N/A
EXECUTIVE
SUMMARY
INCORPORATION DATE :
JUL. 15, 2005
REGISTRATION NO. :
440301503293233
REGISTERED LEGAL FORM :
WHOLLY FOREIGN-OWNED ENTERPRISE
CHIEF EXECUTIVE :
MR. SUNIL DEVRANI (CHAIRMAN)
STAFF STRENGTH :
n/a
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
n/a
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 6.1977 = 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 Renminbi
Note: The was SC’s former registered address.
SC was registered as a Limited liabilities co. at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Jul. 15, 2005 and has been under present legal form since March of 2008.
Company Status:
Wholly foreign-owned enterprise
This form of business in PR China is defined as a legal person. It is a
limited co. established within the territories of PR China with capital
provided totally by the foreign investors. More than one foreign investor may
jointly invest in a wholly foreign-owned enterprise. The investing party/parties
solely exercise management, reap profit and bear risks and liabilities by
themselves. This form of companies usually have a limited duration is
extendible upon approval of Examination and Approval Authorities.
SC’s registered business scope includes international
forwarding services of ocean, land & air imported & exported goods,
international exhibits, private goods and trans-frontier goods, including cargo
collection, consign for shipment, booking, interim storage, LCL, clearing
charges, customs declaration, inspection, insurance and transportation
consulting business, international multimodal transport, concentrated
transportation (including LCL).
Mr.
Sunil Devrani is registered as legal representative, chairman and general manager of
SC.
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 and
it could not be confirmed whether the company operates from the Registered
Office address or in another location.
http://www.direct-logistics.cn/
The website includes
the introduction about SC. The design is professional and the content is
well organized. At present it is in Chinese, English and other versions.
Email: allyna.li@direct-logistics.cn
We have sent an e-mail to the above email
address, but have not received reply.
Changes of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
|
Legal representative |
Li Juan |
Sunil Devrani |
|
Registered Legal Form |
Limited liabilities co. |
Wholly foreign-owned enterprise |
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Shareholders (Shareholding) |
Li Juan (90%), Li Huaming (10%) |
Direct Logistics India Pvt. Ltd (100%) |
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Registration No. |
4403012182516 |
440301503293233 |
Tax Registration Certificate No.: 44030077717734X
Organization Code: 77717734X
According to the information from local AIC, SC has been recorded in the
list of operation anomalies.
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Direct Logistics India Pvt. Ltd. 100
403 / 404, B Block, Mangalya,
Makwana Road, Marol,
Andheri (E), Mumbai 400 059.
Tel: + 91 22 6719 3000
Fax: + 91 22 6719 3001
http://www.direct-logistics.com/contact.htm
l
Legal representative,
chairman and
general manager:
Mr. Sunil Devrani (Indian), born in 1967 with university
education.
Also working in Direct Logistics China Co., Ltd. Shanghai as legal
representative.
l
Supervisor:
Li Juan
SC’s registered address listed on the AIC is Room 707, Block
A, World Trade Plaza, Fuhong Road, Futian District, Shenzhen City. Searches on the registered address returned
no results.
Searches through internet resulted to the findings of the
following contact numbers belonging to SC:
86 (0) 755-82786413/82577686/82577681/83667843/82577661/82577683/82786409
86- 13923744680/13926509403
The tel. numbers (86 (0) 755-82786413/82577686) do not
belong to SC, we dialed the tel. numbers
(82577681/83667843/13926509403), but there is no one answered; the contact
numbers (82577661/82577683/13923744680) could not be connected; and the
tel. no. (82786409) does not exist.
Searches through the address provided, 1401-1402, Landmark
4028, Jintian Road, Futian District, Shenzhen 518035 China, returned no results.
Exhausting our efforts, we are unable to find SC’s telephone number in
various information sources, including the internet, yellow pages and telecom
companies.
We are unable to contact SC. Therefore, the nature
and extent of SC’s operations could not be determined.
Direct Logistics China Co., Ltd. Shanghai
Registration no.: 310000400534832
Legal representative: SUNIL DEVRANI
Incorporation date: 2007-8-12
Tel: + 86 21 5835 2205
Fax: + 86 21 5835 1055
Email: sha@direct-logistics.com
http://www.direct-logistics.cn/cn/china.htm
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.
N/A
SC’s financial information is not available at present.
Despite having exhausted all our effort, we are unable to contact SC. If further contact details of SC can be
provided, we will definitely continue this research.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.20 |
|
|
1 |
Rs.97.01 |
|
Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.