MIRA INFORM REPORT
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Report No. : |
322218 |
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Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
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Name : |
SUZHOU CHUANG GOOD FABRICS CO., LTD. |
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Registered Office : |
Building 2 South, No. 1 Pingsheng Road, Pingnan Industry Zone
Zhujiangqiao, Suzhou, Jiangsu Province 215000 Pr |
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Country : |
China |
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Date of Incorporation : |
31.12.2014 |
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Com. Reg. No.: |
320584000451907 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject includes selling needle textiles, chemical fiber,
leather products, clothing and accessories, machinery equipment and spare parts,
chemical products, furniture, hardware, toys, paper and paper products;
operating and acting as an agent of importing and exporting various kinds of
commodities and technology |
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No. of Employee : |
3 |
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 dailyTRADING
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'sTRADING 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.
|
Source
: CIA |
COMPANY
NAME AND ADDRESS
SUZHOU CHUANG GOOD
FABRICS CO., LTD.
BUILDING 2 SOUTH, NO. 1 PINGSHENG ROAD, PINGNAN INDUSTRY ZONE
ZHUJIANGQIAO, SUZHOU, JIANGSU PROVINCE 215000 PR CHINA
TEL: 86 (0) 512-63669665
FAX: 86 (0) 512-63669665
EXECUTIVE
SUMMARY
Date of Registration : dECEMBER 31, 2014
REGISTRATION NO. : 320584000451907
LEGAL FORM : One-person Limited Liability Company
REGISTERED CAPITAL : CNY 1,000,000
staff : 3
BUSINESS CATEGORY : TRADING
Revenue : n/a
EQUITIES : n/a
WEBSITE : N/A
E-MAIL : N/A
PAYMENT : Not yet be
determined
MARKET CONDITION : N/A
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : Not yet be
determined
GENERAL REPUTATION : Not yet be determined
EXCHANGE RATE : CNY 6.21 = 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 one-person limited liabilities company of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 320584000451907 on December
31, 2014.
SC’s Organization Code Certificate No.:
32359147-4
SC’s Tax No.: 320584323591474
SC’s registered capital: CNY 1,000,000
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 |
|
Chen Li’An |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Chen Li’An |
|
Supervisor |
Yu Weijun |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Chen Li’An 100
MANAGEMENT
Chen Li’An, Legal Representative, Chairman and General
Manager
---------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
From 2014 to present, working in SC as legal
representative, chairman and general manager
Supervisor
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Yu Weijun
BUSINESS
OPERATION
SC’s registered business scope includes selling needle
textiles, chemical fiber, leather products, clothing and accessories, machinery
equipment and spare parts, chemical products, furniture, hardware, toys, paper
and paper products; 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. 3 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 at the end of 2014, SC has not started its
normal operation yet, so the financials are not available at present.
CONCLUSIONS
SC is considered small-sized in its line with a short history. Great
caution is required in providing credit to SC and C.O.D. is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.58 |
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1 |
Rs.100.30 |
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Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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 |
-- |
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.