MIRA INFORM REPORT
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Report No. : |
349776 |
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Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
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Name : |
FOISON INTERNATIONAL CO., LTD. |
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Registered Office : |
No. 1 Mansion, Hi-Tech Incubation Park, South Side of Tianfu Avenue, High-New District, Chengdu, Sichuan Province, 610064 Pr |
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Country : |
China |
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Date of Incorporation : |
24.08.2007 |
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Com. Reg. No.: |
510109000146488 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
Subject is engaged in trading chemical products, chemical raw materials and equipment |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Business registration license cancelled |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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
FOISON INTERNATIONAL CO., LTD.
NO. 1 MANSION, HI-TECH INCUBATION PARK,
SOUTH SIDE OF TIANFU AVENUE, HIGH-NEW DISTRICT,
CHENGDU,
SICHUAN PROVINCE, 610064 PR CHINA (REGISTERED
ADDRESS)
TEL: N/A
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.
From
internet and our database, we found telephone numbers as follows:
86 (0) 28-85336533/816-2541874
The
tel. no. 86 (0) 28-85336533 does
not exist now. We have dialed the no. 86 (0) 816-2541874
many times, but no one answered.
Exhausting
our efforts, we are unable to find SC’s telephone number in various information
sources, including the internet, yellow pages and telecom companies.
The
address client provided is: NO.1 MANSION
HI-TECH INCUBATION PARK, TIAN FU ROAD, PR CHINA
According
to our database, the above address was SC’s former operating address.
According to the from Chengdu Municipal Administration for Industry & Commerce (The
official body of issuing and renewing business license), SC’s business
registration license has been cancelled
in 2014. Its former registration details are as below:
Executive Summary
Incorporation
Date : August 24, 2007
Registration
No. :
510109000146488
Registered
Legal Form : One-Person Limited Liabilities Company
Chief
Executive : Yin Yingsui (Legal representative)
Registered
Capital : CNY
5,000,000
Registered
add. : No. 1
Mansion, Hi-Tech Incubation Park, South Side of Tianfu Avenue, High-
New District, Chengdu, Sichuan Province, 610064 PR China
Organization
Code : 665328342
Tax no. : 510198665328342
SC’s
registered business scope includes: wholesaling and acting as a commission
agency (excluding auction) of chemical raw materials, chemical products
(excluding hazardous chemicals) and chemical equipment; supplying related
supporting services for the above products (excluding prohibit items, in
accordance with the related regulations and license).
Shareholder:
Lier
Chemical Co., Ltd.
Lier
Chemical Co., Ltd.
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Registration
no.: 510700400000030
Incorporated
date: 2000-7-26
Legal
representative: Gao Wen
Stock
code: 002258
Tel.:
86 0816-2841069
Fax:
86 0816-2845140
Email:
tzfzb@lierchem.com
Website:
http://www.lierchem.com
Address:
No. 327, South of Mianzhou Avenue, Economic and Technical Development Zone,
Mianyang, Sichuan, PR China 621000
·
Legal representative and executive director:
Yin
Yingsui was registered as legal
representative and executive director of SC.
·
Manager:
Zhang
Chengxian was registered as manager of SC.
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Supervisor:
Yu Weiwei was registered as supervisor of SC.
SC
is not known to host website of its own at present.
According to our database, SC was mainly engaged in trading chemical products, chemical raw materials and equipment
Main
Products: chemical products,
chemical raw materials and
equipment
SC’s
business registration license and tax registration license have been cancelled.
Judging from the above investigation results, no credit dealings with SC are
recommended.
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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UK Pound |
1 |
Rs.101.03 |
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Euro |
1 |
Rs.70.71 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TRU |
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.