MIRA INFORM REPORT
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Report No. : |
323578 |
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Report Date : |
26.05.2015 |
IDENTIFICATION DETAILS
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Name : |
SUZHOU SCHINDLER ELEVATOR CO., LTD. |
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Registered Office : |
No. 818 Jinmen Road, Suzhou, Jiangsu Province, 215004 Pr |
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Country : |
China |
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Date of Incorporation : |
07.12.1988 |
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Com. Reg. No.: |
320500400000065 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Manufacturing and selling various elevators, escalators,
automatic footway and related parts; assembling, transformation, repairing
and maintenance of its products; importing elevators, escalators, automatic
footway and related products that can not be produced by itself or not
substitutable; wholesaling elevators, escalators & moving walks parts and
auxiliary equipment; import and export business. |
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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 : |
Undetermined |
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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
SUZHOU SCHINDLER
ELEVATOR CO., LTD.
NO. 818 JINMEN ROAD, SUZHOU, JIANGSU PROVINCE, 215004 PR CHINA
TEL: 86 (0) 512-67232429 FAX: N/A
Alert 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:
Information obtained is insufficient for compiling a standard report.
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.
Note: SC’s complete English name should be the heading one.
From internet, we found a SC’s telephone number: 86 (0) 512-67232429.
We dialed the above number, one lady answered the phone, and she
released that SC’s Chinese name is苏州迅达电梯有限公司.
http://www.schindler.com/ The website belongs to Schindler Group. The design is professional and the content is well organized. At
present it is in English and other versions.
The address client provided is:
818 Jinmen Road 215004
Suzhou China
According to the lady, SC is operating at the.
According to the from the local Administration for Industry &
Commerce (The official body of issuing and renewing business license), SC’s
business registration license was canceled on Nov. 1st, 2013. Its
former registration details are as below:
Incorporation Date :
Dec. 7, 1988
Registration No. :
320500400000065
Registered Legal Form : Wholly Foreign-Owned Enterprise
Legal Rep. :
Mr. Zheng Ruiheng
Registered Capital :
CNY 226,798,348
Shareholders %
of shareholding
Schindler Holding A.G. (Switzerland) 100
瑞士迅达控股公司
SC’s registered business scope includes manufacturing
and selling various elevators, escalators, automatic footway and related parts;
assembling, transformation, repairing and maintenance of its products;
importing elevators, escalators, automatic footway and related products that
can not be produced by itself or not substitutable; wholesaling elevators,
escalators & moving walks parts and auxiliary equipment; import and export
business.
According to investigation, SC transferred its business to Schindler (China)
Elevator Co., Ltd. Suzhou Manufacturing Branch
Schindler (China) Elevator Co., Ltd.
Fujian Schindler Elevator Co., Ltd.
Suzhou Esca Step Co., Ltd.
Schindler (China) Elevator Co., Ltd. Shanghai Branch
Schindler (China) Elevator Co., Ltd. Nanjing Branch
Schindler (China) Elevator Co., Ltd. Suzhou Branch
Schindler (China) Elevator Co., Ltd. Wuxi Branch
Schindler (China) Elevator Co., Ltd. Suzhou Manufacturing Branch
SC’s business registration license was canceled. Considering the above
investigation results, great caution is required in providing credit to SC and
no credit dealings with SC can be recommended.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.62 |
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1 |
Rs.96.51 |
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Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
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Analysis Done by
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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.