MIRA INFORM REPORT
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Report No. : |
327682 |
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Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
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Name : |
FOSHAN JINDAXING ECONOMIC AND TRADE CO., LTD. |
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Registered Office : |
Room 1502a, Block B, Caifu Mansion, No. 206 Fenjiang South Road,
Chancheng District, Foshan, Guangdong Province 528231 Pr |
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Country : |
China |
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Date of Incorporation : |
07.06.2007 |
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Com. Reg. No.: |
440600000017299 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in frozen meat sales and agency; coal wholesaling;
domestic trade, import and export of goods and technology; enterprise investment
consulting, cargo distribution services. |
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No. of Employees : |
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 : |
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. 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.
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 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 & address
FOSHAN JINDAXING ECONOMIC AND
TRADE CO., LTD.
ROOM 1502A, BLOCK B, CAIFU MANSION
NO. 206 FENJIANG SOUTH ROAD, CHANCHENG DISTRICT
FOSHAN, GUANGDONG PROVINCE 528231 PR CHINA (AS REGISTERED)
TEL: N/A
FAX: N/A
***Note: According
to the internet sources, we found the following telephone numbers,
86 (0)
757-83306818/83306815/83306811/83339324/83306813
We dialed these
numbers, but the numbers (86 (0) 757-83306818/83306815/83306811/83339324) do
not exist at present, and we also dialed the above last number (86 (0) 757
83306813), but no one answered the phone during our working time.
EXECUTIVE
SUMMARY
Date of Registration : june 7, 2007
REGISTRATION NO. : 440600000017299
LEGAL FORM : LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE :
guan xiuying (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny
5,500,000
staff :
N/A
BUSINESS CATEGORY :
trading
Revenue :
N/A
EQUITIES :
N/A
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT :
NOT YET BE DETERMINED
MARKET CONDITION : NOT YET BE DETERMINED
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.:
440600000017299 on June 7, 2007.
SC’s Organization Code Certificate No.:
66331186-2
SC’s registered capital: cny 5,500,000
SC’s paid-in capital: cny 5,500,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
% of Shareholding |
Guan Xiuying 70% Fan Jieyi 30% |
Guan Xiuying 80% Fan Jieyi 20% |
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2014-03-27 |
Business Scope |
Frozen meat sales and agency; domestic trade, import and export of
goods and technology; enterprise investment consulting, cargo distribution
services. |
Frozen meat sales and agency; coal wholesaling; domestic trade, import
and export of goods and technology; enterprise investment consulting, cargo
distribution services. |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
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Guan Xiuying |
80 |
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Fan Jieyi |
20 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative |
Guan Xiuying |
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Supervisor |
He Xiaoying |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Guan Xiuying 80
Fan Jieyi 20
MANAGEMENT
Guan Xiuying ,
Legal Representative
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Gender: F
Qualification: University
He Xiaoying,
Supervisor
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Gender: F
Qualification: University
BUSINESS OPERATION
SC’s registered business scope includes frozen meat sales
and agency; coal wholesaling; domestic trade, import and export of goods and
technology; enterprise investment consulting, cargo distribution services.
Exhausting our efforts, we are unable to find SC’s new telephone number
in various information sources, including the internet, yellow pages and
telecom companies. It is therefore not possible to contact SC directly to
obtain further information. The nature and extent of SC's operations could not
be determined.
Staff &
Office:
--------------------------
SC’s staff information is not available.
It could not be confirmed whether SC operates from the registered office
address or in another location.
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
Basic Bank:
(According
to information from local SAIC)
Industrial
and Commercial Bank of China Foshan Branch
AC#: 2013021009200105756
We could not confirm if SC opened the account in Agricultural Bank of
China Foshan Branch (Account number: 444 281 404 000 1987).
FINANCIALS
SC’s financials are not filed in local SAIC.
CONCLUSIONS
SC is unable to be contacted, and no precise credit assessment on SC can
be made.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.64 |
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1 |
Rs.100.41 |
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Euro |
1 |
Rs.71.63 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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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.