MIRA INFORM REPORT
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Report No. : |
320108 |
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Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
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Name : |
MACCAFERRI (TIANJIN) GEOSYNTHETICS CO., LTD. |
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Registered Office : |
South of Xinyuan Road, Wuqing Development Zone, New Technology
Industry Park Zone, Tianjin 301700 Pr |
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Country : |
China |
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Date of Incorporation : |
26.06.2009 |
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Com. Reg. No.: |
120000400104114 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Manufacturing and Selling of Geosynthetics. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – 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 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company
Name and address
MACCAFERRI
(TIANJIN) GEOSYNTHETICS CO., LTD.
SOUTH OF XINYUAN
ROAD, WUQING DEVELOPMENT ZONE, NEW TECHNOLOGY INDUSTRY PARK ZONE, TIANJIN 301700 PR CHINA
TEL: 86 (0) 22-82157851 FAX: N/A
EXECUTIVE
SUMMARY
INCORPORATION DATE : JUN. 26, 2009
REGISTRATION NO. :
120000400104114
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED ENTERPRISE
STAFF STRENGTH :
N/A
REGISTERED CAPITAL : USD
3,000,000
BUSINESS LINE :
MANUFACTURING & TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.20 =USD 1
Adopted
abbreviations:
ANS - amount not
stated
NS - not stated
SC - subject
company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image016.gif){kind=small}
SC was registered as a wholly foreign-owned enterprise at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Jun. 26, 2009.
Company Status: Wholly
foreign-owned enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered business scope includes manufacturing and selling
geosynthetics, Three-dimensional geonet pad, three-dimensional geonet pad and
double twisted metal materials synthesis of composite products.
SC is mainly engaged in manufacturing and
selling geosynthetics.
Mr.
Luigi Penzo is the legal representative and chairman of SC at present.
SC’s staff refused
to disclose the number of SC’s employees.
SC is currently operating at the above stated address, and this address houses
its operating office and factory in the development zone of Tianjin. The
detailed premise information is unknown.
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image017.gif){kind=small}
SC is not known to host web site of its own at present.
Email: zhj@maccaferri-china.com
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image018.gif){kind=small}
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2014-9-23 |
Registered capital |
USD 1,900,000 |
Present amount |
Organization code: 690651854
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image019.gif){kind=small}
For the past two years there is no record of litigation.
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image020.gif){kind=small}
MAIN
SHAREHOLDERS:
Name % of Shareholding
(Hong Kong) MACCAFERRI ASIA LIMITED 80
REAYONG (HONG KONG) INDUSTRY COMPANY LIMITED 20
MACCAFERRI
ASIA LIMITED
-----------------------------------------
Registered no.: 1528335
Legal form: Private company limited by
shares
Establishment date:
REAYONG
(HONG KONG) INDUSTRY COMPANY LIMITED
-----------------------------------------------------------------------------------
Registered no.: 0957647
Legal form: Private company limited by
shares
Establishment date:
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image021.gif){kind=small}
l Legal
Representative and Chairman:
Mr. Luigi Penzo, graduated from University
of Bologna (Business Economics), is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as legal
representative and chairman.
Also working in Maccaferri
(Changsha) Environ-Tech Co., Ltd., Maccaferri (Tianjin) Steel Fiber Co., Ltd.
(etc.) as legal representative, and in Officine Maccaferri S.p.A. as CEO.
l Directors:
Marco Finelli
Wang Jue
l Supervisor:
Li Chen
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image022.gif){kind=small}
SC is mainly engaged in manufacturing and
selling geosynthetics.
SC’s products mainly include: geosynthetics,
etc.
SC sources its
materials 60% from domestic market and 40% from overseas market. SC sells 70%
of its products in domestic market and 30% to overseas market.
The buying terms of SC include Check, T/T, L/C, and Credit of 30-60
days. The payment terms of SC include T/T, L/C, Check and Credit of 30-60 days.
Note: SC declined
to release its major suppliers and clients.
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image023.gif){kind=small}
Officine
Maccaferri S.p.A.
Via Kennedy 10 40069 Zola Predosa (Bologna) Italy
Ph. +39 051 6436 000
Fax +39 051 6436 201
E-mail: info@hq.maccaferri.com
Maccaferri
(Changsha) Environ-Tech Co., Ltd.
Registered
no.: 430100400001011
Establishment
date:
Legal
representative: Luigi Penzo
http://www.maccaferri-china.com/
Maccaferri (Tianjin) Steel
Fiber Co., Ltd.
Registered
no.: 120000400099018
Establishment
date:
Legal
representative: Luigi Penzo
Etc.
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image024.gif){kind=small}
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.
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image025.gif){kind=small}
The banking
information of SC is unknown.
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image026.gif){kind=small}
SC’s management declined to release any financial information.
%20GEOSYNTHETICS%20CO.,%20LTD.%20-%20320108%2002-May-2015_files/image027.gif){kind=small}
SC is considered with a development history of 6 years. Due to lack of
financial status, we are unable to recommend accurate credit limit for SC.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.58 |
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1 |
Rs.97.99 |
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Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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.