MIRA INFORM REPORT
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Report No. : |
326074 |
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Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
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Name : |
ANQING PROUD IMPORT & EXPORT CO., LTD. |
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Registered Office : |
No. 8-9-10, Building 14, Phase 2 Of Daguanting, Daguan District,
Anqing, Anhui Province 246000 Pr |
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Country : |
China |
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Date of Incorporation : |
10.02.2015 |
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Com. Reg. No.: |
340800000143408 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject operating and acting as an agent of importing and exporting
various kinds of commodities and technology, excluding the goods forbidden by
the government. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. 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 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 that year... 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 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.
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Source
: CIA |
Company
Name & address
ANQING PROUD IMPORT & EXPORT
CO., LTD.
NO. 8-9-10, BUILDING 14, PHASE 2 OF DAGUANTING, DAGUAN DISTRICT
ANQING, ANHUI PROVINCE 246000 PR CHINA
TEL: 86 (0) 556-5690026
FAX: 86 (0) 556-5690026
EXECUTIVE
SUMMARY
Date of Registration : February 10, 2015
REGISTRATION NO. : 340800000143408
LEGAL FORM : LIMITED LIABILITY
COMPANY
REGISTERED CAPITAL : CNY
500,000
staff :
4
BUSINESS CATEGORY : TRADING
Revenue :
n/a
EQUITIES :
n/a
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT :
Not yet be determined
MARKET CONDITION : currently remains to be observed
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
NOT YET BE DETERMINED
GENERAL REPUTATION :
NOT YET BE DETERMINED
EXCHANGE RATE :
CNY 6.20 = 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.: 340800000143408
on February 10, 2015.
SC’s Organization Code Certificate No.:
32807694-9
SC’s registered capital: CNY 500,000
Registration Change Record:-
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
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Wu Wenzhen |
60 |
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Chen Enhua |
40 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative, Chairman, and
General Manager |
Wu Wenzhen |
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Supervisor |
Chen Enhua |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Wu Wenzhen 60
Chen Enhua 40
MANAGEMENT
Wu Wenzhen, Legal Representative, Chairman and General Manager
-----------------------------------------------------------------------------------------------------
Ø
Gender: F
Ø
Nationality: China
Ø Qualification:
University
Ø Working experience
(s):
From
2015 to present, working in SC as legal representative, chairman and general
manager
Supervisor
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Chen
Enhua
BUSINESS OPERATION
SC’s registered business scope includes operating and
acting as an agent of importing and exporting various kinds of commodities and technology,
excluding the goods forbidden by the government.
SC has not started
its normal operation yet.
Staff & Office:
--------------------------
SC is known
to have approx. 4 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
SC
is not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal: ( ) Excellent ( ) Good ( ) Average ( ) Fair ( ) Poor (X) 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: Not available.
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
Established as a new company in 2015, SC’s financials are not available
at present.
CONCLUSIONS
SC was established recently in 2015, and its credit has not been
established yet.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.11 |
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1 |
Rs.97.84 |
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Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
TPT |
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.