MIRA INFORM REPORT
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Report No. : |
312721 |
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Report Date : |
17.03.2015 |
IDENTIFICATION DETAILS
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Name : |
GOLDWIN HOLDINGS LIMITED |
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Registered Office : |
Mingzhu Road, Shatian Town, Dongguan Guangdong Province 523992 Pr |
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Country : |
China |
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Date of Incorporation : |
02.05.2007 |
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Legal Form : |
Private |
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Line of Business : |
Subject is engaged in selling mosquito trap.
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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
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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 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.
|
Source
: CIA |
company
name and address
GOLDWIN HOLDINGS LIMITED
MINGZHU ROAD, SHATIAN TOWN, DONGGUAN
GUANGDONG PROVINCE 523992 PR CHINA
TEL: 86 (0) 769-88808092
FAX: 86 (0) 769-88864657
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
CHECK
ON SC’S REGISTERED TELEPHONE LINE
²
The given contact
ways for SC are as below,
Tel: 86 (0)
769-88808092
Fax: 86 (0)
769-88864657
When we dialed the above given number, a gentleman answered the phone.
He admitted the given English name, and told us SC’s Chinese name in
translation is “荣金集团有限公司”, which is
registered in Hong Kong, but mainly operates in Dongguan, Guangdong Province,
PRC China.
²
The gentleman
introduced the below information,
A.
SC is mainly engaged in selling
mosquito trap, etc.
B.
SC sources its products 100% from domestic market.
SC sells 100% of its products to overseas market.
C.
SC’s website: www.goldwinholdings.net
E-mail:
sam@goldwinholdings.com & jenny@goldwinholdings.com
D.
SC’s related companies,
Dongguan
Shatian Shengyi Mosquito Trap Sales
Dongguan Shatian Fangsheng Electrical Appliance Firm
Herowin
International Limited
Web: www.maxttrac.com
SPOT
VISIT
Mingzhu
Road, Shatian Town, Dongguan, Guangdong Province 523992 PR China
According to the
gentleman, SC and its related companies locate in the
above at present.
REGISTRATION
During our check with Hong Kong
Registry, we found the following registration about SC,
Company Name: Goldwin Holdings Limited
Company File No.: 1128457
Date of Registration: May 2, 2007
Legal Form: Private
Status: Live
A research was conducted with
Dongguan municipal State Administration of Industry & Commerce (SAIC-the
official body of issuing and renewing business license) and Hong Kong Registry,
we found the following registration information for SC’s related companies,
Company Name: Dongguan
Shatian Shengyi Mosquito Trap Sales
Registration No.: 441900602126230
Date of Registration: July 27, 2005
Legal Form: Individual-owned enterprise
Principal: Yuan Shaofeng
Company
Name: Dongguan Shatian Fangsheng Electrical Appliance Firm
Registration No.: 441900604962736
Date of Registration: August 3, 2012
Legal Form: Individual-owned enterprise
Principal: Yuan Shaofeng
Company Name:
Herowin International Limited
Company File No.: 2040059
Date of Registration: February 21, 2014
Legal Form: Private
Status: Live
CONCLUSIONS
SC is considered small-sized in its line with 8 years history. Credit
dealings with SC should be confined into small amount at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.82 |
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|
1 |
Rs.92.82 |
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Euro |
1 |
Rs.66.17 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.