MIRA INFORM REPORT
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Report No. : |
349959 |
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Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
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Name : |
ASIA MAX WELL INDUSTRY
LIMITED |
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Registered Office : |
Room 1704, Tower 2, Minghui (Celebrity) International, Shenzhen Road, Laoshan
District, Qingdao City, Shandong Province, 266061 Pr |
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Country : |
China |
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Date of Incorporation : |
20.04.2015 |
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Com. Reg. No.: |
370213230151083 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is
mainly engaged in selling
chemical products. |
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No. of Employees : |
5 |
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 – 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. 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 for the first time in modern history. Still, China's per capita income is below the world average.
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 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 also 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 and Address
ASIA MAX WELL INDUSTRY LIMITED
ROOM 1704, TOWER 2, MINGHUI
(CELEBRITY) INTERNATIONAL, SHENZHEN ROAD, LAOSHAN DISTRICT, QINGDAO CITY, SHANDONG
PROVINCE, 266061 PR CHINA
TEL: 86 (0) 532-89075558 FAX:
86 (0) 532-89075568
EXECUTIVE
SUMMARY
INCORPORATION DATE :
APR. 20, 2015
REGISTRATION NO. : 370213230151083
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH : 5
REGISTERED CAPITAL :
CNY 1,000,000
BUSINESS LINE :
TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.3681 = 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
Note: SC
and its related company in Hong Kong share the same English name.
SC was registered as a One-person Limited
Liability Company at local Administration for Industry & Commerce (AIC -
The official body of issuing and renewing business license) on Apr. 20, 2015.
One-person Limited
Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered
business scope includes: wholesale: chemical raw materials and chemical
products (excluding hazardous chemicals), building materials, metal products,
hardware appliances; container leasing, goods storage (excluding freezing, cold
storage, refrigeration and other ammonia items, excluding the storage of
dangerous chemical), cargo handling services, domestic freight forwarders;
Business information consultation (excluding commercial secrets and mediation);
import and export of goods and technologies. (with permit if needed)
SC is mainly engaged in selling chemical products.
Mr. Lu Chao has
been legal representative, executive director and general manager of SC since
April of 2015.
SC is known
to have approx. 5 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Qingdao. The detailed premise is
unavailable at present.
http://www.asiamaxwell.cn We are unable to open the website at
present.
Email: diz@asiamaxwell.cn
SC was taken into operation in April of 2015.
Organization Code: 334193797
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Mr. Lu Chao 100
l Legal
representative, Executive director and General manager:
Mr. Lu Chao is currently responsible for the overall management of SC.
Working Experience(s):
From April of 2015 to present Works in
SC as legal representative, executive director and general manager.
l Supervisor:
Lu Huanhuan
SC is mainly
engaged in selling chemical
products.
SC’s products
mainly include: ammonium nitrate including PPAN (porous prilled ammonium
nitrate) and CPAN (chemical pure ammonium nitrate)
SC was taken into operation in April of 2015.
SC sources its materials from domestic
market. SC sells its products in domestic markets and overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note: SC’s management declined to release its main clients and suppliers.
Asia
Max Well Industry Limited (Hong Kong)
Registered
No.: 1691207
Incorporation
date:
Legal
form: Private company limited by shares
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.
SC’s management
declined to release its bank details.
SC was taken into operation in April of 2015, so its financial
statements are not available at present.
SC is considered small-sized in its line with a short operating history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.11 |
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|
1 |
Rs.101.03 |
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Euro |
1 |
Rs.70.78 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.