MIRA INFORM REPORT
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Report No. : |
357100 |
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Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
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Name : |
LAIWU STEEL GROUP MINE CONSTRUCTION CO., LTD. |
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Registered Office : |
No. 57 East Fengcheng Road, Laiwu City Shandong Province 271100 Pr |
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Country : |
China |
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Date of Incorporation : |
27.09.1999 |
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Com. Reg. No.: |
913712001695311817 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject includes blasting
construction; mine construction installation works, industrial and civil
engineering, earthwork construction, steel construction; manufacturing and selling
shoes and leather products, protective shoes, mechanical products, iron ore,
iron powder, pellets, limestone, cement, lime; mine construction technology
advisory; buildings and equipment rental services; operating and acting as an
agent of importing and exporting various kinds of commodities and technology.
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No. of Employee : |
300 |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – 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
LAIWU STEEL GROUP
MINE CONSTRUCTION CO., LTD.
NO. 57 EAST
FENGCHENG ROAD, LAIWU CITY
SHANDONG PROVINCE
271100 PR CHINA
TEL: 86 (0)
634-6232133
FAX: 86 (0)
634-6232181
EXECUTIVE
SUMMARY
Date
of Registration :
september 27, 1999
Unified
social credit code :
913712001695311817
LEGAL
FORM : Limited Liability Company
REGISTERED
CAPITAL : CNY 120,000,000
staff :
300
BUSINESS
CATEGORY : CONSTRUCTION
Revenue : N/A
EQUITIES : N/A
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT
:
AVERAGE
MARKET
CONDITION :
COMPETITIVE
FINANCIAL
CONDITION : N/A
OPERATIONAL
TREND : fairly STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : CNY
6.48 = 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 unified social credit code: 913712001695311817.
SC’s Organization Code Certificate No.: 16953118-1
SC’s Tax No.: 371202169531181
SC’s registered capital: CNY 120,000,000
SC’s paid-in capital: CNY 120,000,000
Registration
Change Record:-
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Date |
Change of
Contents |
Before the
change |
After the
change |
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2015 |
Registration No./ Unified Social Credit Code |
371200018702160 |
USD 15,500,000 |
Current Co search
indicates SC’s shareholders & chief executives are as follows:-
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Name of
Shareholder (s) |
% of
Shareholding |
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Laiwu Steel Group
Corporation |
34 |
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Employee
Shareholders Association of Laiwu Steel Group Mine Construction Co., Ltd. |
31 |
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Laiwu Tongxin
Investment Co., Ltd. |
35 |
SC’s Chief
Executives:-
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Position |
Name |
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Legal Representative, Chairman, and General Manager |
Zhao Rutong |
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Vice Chairman |
Xing Jiechun |
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Director |
Jia Zhihua |
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Xu Zhiyi |
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Qi Zhaoxue |
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Supervisor |
Chen Jiguo |
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Zhang Wenzhu |
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Hao Zihua |
RECENT
DEVELOPMENT
No recent
development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Laiwu Steel Group Corporation 34
Employee Shareholders Association of Laiwu Steel Group
Mine Construction Co., Ltd. 31
Laiwu Tongxin Investment Co., Ltd. 35
Laiwu Steel Group Corporation
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Date of
Registration: May 6, 1999
Unified Social
Credit Code: 9137000016953055XK
Legal Form: Limited Liability Company
Registered Capital:
CNY 3,922,693,300
Laiwu Tongxin Investment Co., Ltd.
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Date of
Registration: May 10, 2006
Registration No.:
371200228039228
Legal Form: Limited Liability Company
Registered Capital:
CNY 14,000,000
MANAGEMENT
Zhao Rutong, Legal
Representative, Chairman and General Manager
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Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
From 1999 to present, working in SC as legal
representative, chairman and general manager
Also working in Laiwu Tongxin Investment Co., Ltd.
as legal representative
Xing
Jiechun, Vice Chairman
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Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as vice chairman
Director
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Jia Zhihua
Xu Zhiyi
Qi Zhaoxue
Supervisor
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Chen Jiguo
Zhang Wenzhu
Hao Zihua
BUSINESS
OPERATION
SC’s registered business scope includes blasting construction; mine construction installation works, industrial
and civil engineering, earthwork construction, steel construction;
manufacturing and selling shoes and leather products, protective shoes,
mechanical products, iron ore, iron powder, pellets, limestone, cement, lime;
mine construction technology advisory; buildings and equipment rental services;
operating and acting as an agent of importing and exporting various kinds of
commodities and technology.
SC is mainly engaged in mine construction
installation works.
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:
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SC is known to have approx. 300 staff at present.
SC owns an area as its operating office and
factory, but the detailed information is unknown.
RELATED
COMPANY
SC
is known to have 4 branches at present,
Laiwu Steel Group Mine Construction Co., Ltd. Xinyuan Branch
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Date of Registration: March 24, 2009
Registration No.: 371200100001270
Principal: Sha Liangang
Laiwu Steel Group Mine Construction Co., Ltd. Steel Structure Branch
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Date of Registration: May 25, 2011
Registration No.: 371200119704728
Principal: Wu Xuxian
Laiwu Steel Group Mine Construction Co., Ltd. Jinhui Footwear Branch
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Date of Registration: October 20, 2000
Registration No.: 371200119702930
Principal: Wu Xuxian
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
The financials of SC is not available in local SAIC, and SC also refused
to release the details.
CONCLUSIONS
SC is considered
medium-sized in its line with a development history of 16 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.37 |
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1 |
Rs.98.91 |
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Euro |
1 |
Rs.72.85 |
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CNY |
1 |
Rs.10.22 |
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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AMT |
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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.