MIRA INFORM REPORT
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Report No. : |
355774 |
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Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
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Name : |
WEI LI DA CO., LIMITED |
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Registered Office : |
Room 512, Floor 5 Yunfeng Building, No. 4 Yunjia Street
Yunjing Road, Baiyun District, Guangzhou Guangdong Province 510000 Pr |
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Country : |
China |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Not Available |
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Line of Business : |
Subject is engaged in selling inflatable
toys. |
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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 : |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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.
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 for the
first time in modern history. Still, China's per capita income is below the
world average.
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
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 2014 more than 274 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 also implemented several
economic reforms in 2014, including passing legislation to allow local
governments to issue bonds, opening several state-owned enterprises to further
private investment, loosening the one-child policy, passing harsher pollution
fines, and cutting administrative red tape.
|
Source
: CIA |
COMPANY
NAME AND ADDRESS
WEI LI DA CO., LIMITED
ROOM 512, FLOOR 5 YUNFENG BUILDING, NO. 4 YUNJIA STREET
YUNJING ROAD, BAIYUN DISTRICT, GUANGZHOU
GUANGDONG PROVINCE 510000 PR CHINA
TEL: 86 (0) 20-85163493
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.
------------------------------------------
Adopted abbreviations (as follows)
SC -
Subject Company (the company inquired by you)
N/A – Not
available
CNY –
China Yuan Ren Min Bi
CHECK ON SC’S REGISTERED TELEPHONE LINE
²
The
given telephone number for SC is as below,
Tel:
86 (0) 20-85163493
When we dialed the above number, a gentleman answered the
phone. He admitted the given English name, and told us SC’s Chinese name in translation is,
which is registered in Hong Kong, but mainly operates in Guangzhou, Guangdong
Province, PRC China.
²
The
gentleman introduced the below information,
A.
SC is mainly engaged in selling
inflatable toys.
B.
The products mainly include:
Big
Air Bag/Gym Air Track
Inflatable
Football Field
Inflatable
Tent
Lighting
Inflatable
Inflatable
Balloon/Helium Balloon
Festival
Inflatable
Sport
Games
Bouncers/Castles
Slides/Water
Slides
Water
Games
Obstacle/Play
Ground/Amusement Park
Combo
Inflatable
Models
A.
SC sources its products 100% from
domestic market. SC sells 100% of its products to overseas market.
B.
SC’s related companies,
Guangzhou
Wei Li Da Inflatable Co., Ltd.
Web: www.weilidaqimo.com
Dianbai
County Wei Li Da Trade Co., Ltd.
SPOT
VISIT
Room 512,
Floor 5 Yunfeng Building, No. 4 Yunjia Street, Yunjing Road, Baiyun District,
Guangzhou, Guangdong Province 510000 PR China
According to the gentleman, SC locates in the above address
at present.
REGISTRATION
During our check with Hong Kong
Registry, we found the following registration about SC,
Company Name: Wei Li Da Co., Limited
Company File No.: 1903038
Date of Registration: May 6, 2013
Legal Form: Private
Status: Live
A research was conducted with
Guangzhou and Maoming municipal State Administration of Industry & Commerce
(SAIC-the official body of issuing and renewing business license), however, we
found the following registration information on SC’s related company,
Company Name: Guangzhou
Wei Li Da Inflatable Co., Ltd.
Registration
No.: 440111000561140
Date
of Registration: December 6, 2013
Legal
Form: Limited Liabilities Company
Registered
Capital: CNY 100,000
Legal Representative: Li Jinfa
Company Name: Dianbai
County Wei Li Da Trade Co., Ltd.
Registration
No.: 440923000024599
Date of
Registration: March 29, 2012
Legal
Form: Limited Liabilities Company
Registered
Capital: CNY 30,000
Legal Representative: Li Jinfa
CONCLUSIONS
SC is considered small-sized in its line with 2 years history.
Great caution is required in providing credit to SC & C.O.D. is
recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
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|
1 |
Rs.99.17 |
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Euro |
1 |
Rs.72.14 |
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CNY |
1 |
Rs.10.24 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ANK |
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.