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Report No. : |
306086 |
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Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
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Name : |
CHANGZHOU
REFYCHEM CO., LTD. |
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Registered Office : |
Room 2501 South
Building, Gongyuan Mansion, No. 9 Gongyuan Road Changzhou, Jiangsu Province
213000 Pr |
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Country : |
China |
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Date of Incorporation : |
14.04.2009 |
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Com. Reg. No.: |
06876298 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in Exporting
Chemical Products. |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 and expanded 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 2013 stood as the second-largest economy in the world after the US, having surpassed Japan in 2001. The dollar values of China's agricultural and industrial output each exceed those of the US; China is second to the US in the value of services it produces. 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; (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.
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Source
: CIA |
CHANGZHOU REFYCHEM CO., LTD.
ROOM 2501 SOUTH BUILDING,
GONGYUAN MANSION, NO. 9 GONGYUAN ROAD
CHANGZHOU, JIANGSU
PROVINCE 213000 PR CHINA
TEL: 86 (0)
519-89601528
FAX: 86 (0)
519-86813996
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
² The contact ways clients provided are as follows,
Tel: 86 (0) 519-89601528
Fax: 86 (0) 519-86813996
When we dialed the
above telephone number, a lady answered the phone. She admitted the given
English name, and told us SC is registered in UK, and its Chinese name in translation
is, SC mainly operates in Changzhou, Jiangsu Province PR China.
² The
lady introduced the below information,
A. SC is mainly engaged in
exporting chemical products.
B. SC’s products mainly include:
Pharmaceutical &
intermediates
Pesticide
Dyestuff
C. SC sources its products 100% from domestic
market, mainly Jiangsu. SC sells 100% to overseas market, mainly India, etc.
D. SC’s website: http://refychem.com
E-mail: refychem@gmail.com
& export@refychem.com
Room 2501 South Building, Gongyuan
Mansion, No. 9 Gongyuan Road, Changzhou, Jiangsu Province 213000 PR China
According to the
lady, SC locates in the heading address at present, while the (No. 18-19 Xiheyan Changzhou Jiangsu)
was the former one.
During our check with UK
Registry, we found the following registration information about SC,
-----------------------------------
Name & Registered Office:
Changzhou Refychem Co., Ltd.
23 Lakeswood Road
Orpington
London
United Kingdom
Br5 1bj
Company No. 06876298
Date of Incorporation:
Status: Active
Company Type: Private Limited Company
Management:
Min
Jiang - Director
Lixun
Han - Director
SC is considered
small-sized in its line with 6 years business history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
|
1 |
Rs.92.71 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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 |
|
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.