MIRA INFORM REPORT
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Report No. : |
356559 |
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Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
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Name : |
GUANGDONG
PHOMI MCM CO., LTD. |
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Registered Office : |
Phomi Industry Park, No. 112 Zhongsheng Road, Shibi, Panyu District Guangzhou, Guangdong Province 511495 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
03.01.2008 |
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Com. Reg. No.: |
440101000000252 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject includes manufacturing
lightweight materials, brick and building block; ancient architectural and engineering
services; highway engineering and construction; municipal public works
construction; construction works late decoration, decoration and cleaning;
indoor decoration; wholesale of non metallic minerals and products, building
materials, decoration materials; importing and exporting goods and
technology; non metallic mineral waste management; construction waste
management |
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No. of Employees : |
58 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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.
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Source
: CIA |
Company
name and Address
GUANGDONG PHOMI MCM CO., LTD.
PHOMI INDUSTRY PARK, NO. 112 ZHONGSHENG
ROAD, SHIBI, PANYU DISTRICT
GUANGZHOU, GUANGDONG PROVINCE
511495 PR CHINA
TEL: 86 (0) 20-34632063
FAX: 86 (0) 20-34632196
***Note: SC’s correct name should be the above
stated one, instead of the given name - Mcm
Phomi Co Ltd.
EXECUTIVE
SUMMARY
Date of Registration : JANUARY 3, 2008
REGISTRATION NO. : 440101000000252
LEGAL FORM : Limited Liability Company
REGISTERED CAPITAL : CNY 31,648,253
staff : 58
BUSINESS CATEGORY : MANUFACTURING & TRADING
Revenue : CNY 37,843,000 (AS OF DEC. 31, 2014)
EQUITIES : CNY 47,419,000 (AS OF DEC. 31, 2014)
WEBSITE : www.mcm.so
E-MAIL : market@mcm.so
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.47 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL
TREND & GENERAL REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS
& HISTORY
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 440101000000252 on January 3, 2008.
SC’s Organization Code Certificate No.:
66999164-3
SC’s registered capital: CNY 31,648,253
SC’s paid-in capital: CNY 31,648,253
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2009-4-2 |
Registered Capital |
CNY 20,980,000 |
CNY 25,585,369 |
|
2011-3-28 |
Registered
Capital |
CNY 25,585,369 |
CNY 31,648,253 |
|
2011-6-2 |
Company
Name |
Guangzhou Phomi Mcm Co., Ltd. |
Guangdong Phomi Mcm Co., Ltd. |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Jiangyin
Changfeng Investment Co., Ltd. |
6.38 |
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Suzhou
Derui Hengfeng Venture Capital Co., Ltd. |
12.77 |
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Guangzhou
Technology Venture Capital Co., Ltd. |
13.92 |
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Guangzhou
Shuren Investment Partnership (Limited Partnership) |
24.75 |
|
Jiang Wen |
1.33 |
|
Shi Lei |
40.85 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal
Representative, Chairman and General Manager |
Shi Lei |
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Director |
Chen Liang |
|
Meng Aimin |
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Shi Guangming |
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Shi Weizhi |
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Supervisor |
Sun Yizhou |
|
Li Binbin |
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|
Lan Yanmei |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Jiangyin Changfeng Investment Co., Ltd. 6.38
Suzhou Derui Hengfeng Venture Capital Co.,
Ltd. 12.77
Guangzhou Technology Venture Capital Co.,
Ltd. 13.92
Guangzhou Shuren Investment Partnership
(Limited Partnership) 24.75
Jiang Wen 1.33
Shi Lei 40.85
Jiangyin Changfeng
Investment Co., Ltd.
-------------------------------------------------------
Date of Registration: August 6, 2010
Registration No.: 320281000288316
Registered Capital: CNY 10,000,000
Suzhou Derui
Hengfeng Venture Capital Co., Ltd.
------------------------------------------------------------------
Date of Registration: April 21, 2010
Registration No.: 320594000160308
Registered Capital: CNY 250,000,000
Guangzhou
Technology Venture Capital Co., Ltd.
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Date of Registration: April 16, 2002
Registration No.: 440101000004341
Registered Capital: CNY 200,000,000
MANAGEMENT
Shi
Lei, Legal Representative, Chairman
and General Manager
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Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman and general manager
Director
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Chen Liang
Meng Aimin
Shi Guangming
Shi Weizhi
Supervisor
--------------
Sun Yizhou
Li Binbin
Lan Yanmei
BUSINESS
OPERATION
SC’s registered business scope includes manufacturing lightweight
materials, brick and building block; ancient architectural and engineering
services; highway engineering and construction; municipal public works
construction; construction works late decoration, decoration and cleaning;
indoor decoration; wholesale of non metallic minerals and products, building
materials, decoration materials; importing and exporting goods and technology;
non metallic mineral waste management; construction waste management
SC is mainly
engaged in manufacturing and selling lightweight materials.
SC’s products
mainly include:
Stone Series
Facing Brick
Series
Wood Series
Terracotta Series
Soft Ceramic
Series
SC sources its materials 100% from domestic market, mainly Guangdong. SC sells 75% of its products in domestic market, and 25% to overseas market, mainly USA, Europe, Mid East, Southeast Asia, etc.
The buying terms
of SC include Check, T/T and Credit of 30-60 days. The payment terms of SC
include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is known
to have approx. 58 staff at
present.
SC rents an area
as its operating office & factory of approx. 6,000 sq. meters at the
heading address.
RELATED COMPANY
SC is known to have 2
subsidiaries at present:
PHOMI
MCM Co., Ltd.
Foshan
Phomi MCM New Materials Co., Ltd.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
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.
BANKING
The bank
information of SC is not filed in SAIC.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As of Dec. 31, 2014 |
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Total assets |
58,374 |
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Total liabilities |
10,955 |
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Equities |
47,419 |
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Revenue |
37,843 |
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Profit before tax |
5,409 |
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Less: profit tax |
0 |
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Profits |
5,409 |
Important Ratios
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As of Dec. 31, 2014 |
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*Liabilities to assets |
0.19 |
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*Net profit margin (%) |
14.29 |
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*Return on total assets (%) |
9.27 |
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*Revenue/Total assets |
0.65 |
FINANCIAL
COMMENTS
PROFITABILITY:
FAIRLY GOOD
l The revenue of SC
appears average in its line.
l SC’s net profit
margin is fairly good.
l SC’s return on
total assets is fairly good.
LIQUIDITY: FAIR
l
SC’s revenue is in a fair level, comparing with the
size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
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|
1 |
Rs.98.30 |
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Euro |
1 |
Rs.72.41 |
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CNY |
1 |
Rs.10.23 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.