MIRA INFORM REPORT
|
Report No. : |
357098 |
|
Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI PURUI
INTERNATIONAL TRADE CO., LTD. |
|
|
|
|
Registered Office : |
Suite 1801, Building 1, Lane 2742, Pudong Avenue, Pudong, New
District, Shanghai City, 200129 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
07.11.2013 |
|
|
|
|
Com. Reg. No.: |
310141000005184 |
|
|
|
|
Legal Form : |
One-Person Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in trading of goods, products mainly include: Steroidal hormones, antitumor, antiviral drugs in the field of pharmaceutical raw materials and intermediates |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
SHANGHAI PURUI
INTERNATIONAL TRADE CO., LTD.
SUITE 1801, BUILDING 1, LANE 2742, PUDONG
AVENUE, PUDONG, NEW DISTRICT, SHANGHAI CITY, 200129 PR CHINA
TEL: 86 (0) 21-50432089/60449188 FAX: N/A
EXECUTIVE
SUMMARY
INCORPORATION DATE :
NOV. 7, 2013
REGISTRATION NO. :
310141000005184
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH :
N/A
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
UNKNOWN
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.4861 = USD
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 given name “Asun Laboratory Limited”
belongs to SC’s related company registered in U.K.
SC was registered as a one-person limited liability company
at local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on Nov. 7, 2013.
Company Status:
One-person Limited Liability Company
Single person LLC refers to a limited liability company set up by only
one natural person or legal person as the single shareholder of it.
The minimum registered capital of Single person LLC is CNY100,000. The
shareholder’s capital contributes, as set out by the articles of associations
should be a lump-sum payment in full.
One natural person can only invest in and set up one limited liability company,
which is not permitted to invest in and set up a new Single person LLC.
As to any one-person limited liability company, the sole-investor nature
of the natural person or legal person shall be indicated in the registration
documents of the company and shall be indicated in the business license thereof
as well.
The regulation of Single person LLC should be set up by the shareholder
The regulation of
Single person LLC has no shareholder meeting.
SC’s registered business scope includes engaged in import and export
business of goods and technology, selling office supplies, plastic products,
hardware and electrical equipment, mechanical and electrical products, glass
products, electronic products, craft gifts, building decoration materials,
packaging materials, stone material, wire and cable, chemical raw materials and
products (excluding the dangerous chemicals, monitoring chemicals, fireworks,
civil explosives, precursor chemicals), metal materials, class 1 medical
apparatus and instruments, jewelry, clothing shoes and hats, clothing fabrics,
needles textiles, minerals (except exclusive control), hardware and electrical
equipment, coal, electronic products. Computer graphic design, production,
business consulting, enterprise management consulting (excluding the broker),
entrepot trade, domestic freight forwarders, the storage in the area (excluding
dangerous goods) The trade and trade agency between the enterprises in the
area, e-commerce service (shall not be engaged in value-added telecom services,
financial business). (With permit if needed)
SC is mainly
engaged in trading of goods.
Zhang Peiying is
the legal representative and executive director of SC at present.
SC declined to
disclose the employee’s information.
SC
is currently operating at the above stated address, and this address houses its
operating office in Shanghai. The detailed information of the premise is
unspecified.
SC is not known to host web site of its own at present.
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
Organization Code: 082072250
Credibility Code: 91310000082072250X
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhang Peiying 100
l Legal
representative and Executive director:
Zhang Peiying is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as legal representative and
executive director
l Supervisor:
Qian Mingde
SC is mainly engaged in trading of goods.
According to the internet,
SC’s products mainly include: Steroidal hormones, antitumor, antiviral drugs in
the field of pharmaceutical raw materials and intermediates.
SC declined to release its operation details.
Note: SC refused
to release its major suppliers and customers.
Asun
Laboratory Limited (United Kingdom)
==================================
It
was founded on May 06, 2011 and has its registered office in Northamptonshire.
Address:
6 Prospect Way Royal Oak Industrial Estate Daventry Northamptonshire NN11 8PL
Overall payment appraisal:
( ) Excellent ( ) Good
(X) Average ( ) Fair
( ) Poor ( )
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: 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.
SC declined to
release its bank details.
SC’s accountant
refused to release the financial information.
SC has developed for 2 years. Due to lack of financial statements, we
are unable to determine the maximum credit limit for SC.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
UK Pound |
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.72.85 |
|
CNY |
1 |
Rs. 10.23 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.