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Report No. : |
345371 |
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Report Date : |
19.10.2015 |
IDENTIFICATION DETAILS
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Name : |
Sulzer Pumps Suzhou
Ltd. |
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Registered Office : |
No. 433, |
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Country : |
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Date of Incorporation : |
10.02.2009 |
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Com. Reg. No.: |
320500400036360 |
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Legal Form : |
Wholly Foreign-Owned |
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Line of Business : |
Subject is engaged in manufacturing and trading of pump equipment |
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No. of Employee : |
358 |
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 : |
No complaints |
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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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
Sulzer Pumps Suzhou Ltd.
NO. 433, JIANLIN ROAD, HIGH-TECH ZONE, SUZHOU, JIANGSU
PROVINCE, 215151 PR CHINA
TEL: 86 (0) 512-81873914 FAX: 512-81873915
INCORPORATION DATE :
FEB. 10, 2009
REGISTRATION NO. :
320500400036360
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED ENTERPRISE
STAFF STRENGTH :
358
REGISTERED CAPITAL : USD 12,010,000
BUSINESS LINE :
MANUFACTURING AND TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
NO COMPLAINTS
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.3440
Adopted abbreviations:
ANS - amount not stated NS - not stated SC - subject company (the company inquired by you)
NA - not available CNY - China Yuan Renminbi
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 Feb. 10, 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 research and development, design and production of
nuclear power equipment for large centrifugal pump, sales self-produced
products, and provide the related technology and after-sales service;
wholesale, import and export, commission agency (excluding auction) of the
above products and parts. (With permit if needed)
SC is mainly engaged in manufacturing and trading of pump equipment.
Mr. Ashwin Trimbak Bondal is the legal representative and chairman of SC at
present.
SC is known to
have approx. 358 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the high-tech zone of Suzhou.
SC’s employee refused to release the gross area of the premise.
www.sulzer.com It belongs to Sulzer Ltd. The design is professional and the content is
well organized. At present it is in Chinese, English and other versions.
E-mail: Li.Yang@sulzer.com
For the past two years there is no record of
litigation.
Changes of its
registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
2015-3-26 |
Shareholders |
Present one |
Organization Code: 68493353X
MAIN SHAREHOLDERS:
Sulzer Ltd.
(Switzerland) 100
---------------------------------------
Sulzer is one of the
world's leading pump manufacturers. Their manufacturing footprint encompasses
more than 20 sites. Their network of service centers and sales offices spans
around the globe. They are well known for state-of-the-art products,
performance reliability, and energy-efficient solutions.
Phone+41 52 262 11 22
Fax+41 52 262 01 01
Website: www.sulzer.com
l
Legal representative and Chairman:
Mr. Ashwin Trimbak Bondal, Indian, he 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 Sulzer (Dalian) Pumps &
Compressors Ltd. as legal representative and chairman and Sulzer
Pumps Suzhou Ltd. Shanghai Branch as principal, etc.
l
General Manager:
Lee Lu is currently responsible for the
daily management of SC.
Working Experience(s):
At present Working
in SC as general manager.
l
Directors:
Chen Tao
Qian Yumin
Tania Micki
l
Supervisor:
Tseng King Piao
SC is mainly
engaged in manufacturing and trading of pump equipment.
SC’s products
mainly include:
Agitators, Mixers, and Dispensers
Compressors and Aerators
Electro-Mechanical Services
General Mechanical Services
Process Technology
Pumps and Systems
Pumps Services
Separation Technology
SC sources its materials 90% from domestic
market, and 10% from overseas market. SC sells 50% of its products in domestic
market, and 50% 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 Check, T/T, L/C and
Credit of 30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
Sulzer (Dalian) Pumps & Compressors Ltd.
--------------------------------------------
Reg. no.: 210200400025554
Legal
representative: Mr. Ashwin Trimbak
Bondal
Incorporation
date:
Tel: +86 411 8758 1738
Fax: +86 411 8758 1877-8738
According to the
website www.sulzer.com:
Sulzer Pumps Finland Oy
Address: Pajatie 75PO Box 6648601 Kotka Finland
Phone: +358 10 234 3333+358 10 234 3189
Mobile: +358 50 5263 486
Fax: +358 10 234 6923
Sulzer Pompes France SASU
Address1: rue de l’innovation Mantes Innovaparc78200 Buchelay France
Phone: +33 1 34 77 72 00
Fax: +33 1 34 77 72 16
Sulzer Pumpen (Deutschland) GmbH
Address: Ernst-Blickle-Str 2976646 Bruchsal Germany
Phone: +49 7251 76-0
Fax: +49 7251 76-401
Sulzer Pumps (UK) Ltd.
Address: Manor Mill LaneLS11 8BR Leeds United Kingdom
Phone: +44 113 270 1244
Fax: +44 113 272 4404
Sulzer Pumps (US) Inc.
Address: 800 Koomey Road77423 BrookshireTexas USA
Phone: +1 281 934 6014+1 281 934 6014
Fax: +1 281 934 6064
Branches:
Sulzer Pumps Suzhou Ltd. Shanghai Branch
-----------------------------------------------------
Reg. no.: 310115500096253
Principal: Mr.
Ashwin Trimbak Bondal
Incorporation
date:
Sulzer Pumps Suzhou Ltd. Beijing Branch
-----------------------------------------------------
Reg. no.: 110000450132997
Principal:
Liu Hongyi
Incorporation
date:
Sulzer Pumps Suzhou Ltd. Chengdu Branch
-----------------------------------------------------
Reg. no.: 510100500046606
Principal: Zuo Guangfeng
Incorporation
date:
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’s management
declined to release its financial information.
SC is considered medium-sized in its line with 6 years development
history.
Due to lack of financial statements, we are unable to determine the maximum
credit limit for SC. Taking into consideration of SC’s background and operation
size, credit up to moderate amount appears acceptable at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.97 |
|
UK Pound |
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.