MIRA INFORM REPORT
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Report No. : |
345453 |
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Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
B-17C, Yuehai Building, Nanhai Avenue, Nanshan District, Shenzhen City, Guangdong Province, 518100 Pr |
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Country : |
China |
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Date of Incorporation : |
29.05.2007 |
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Com. Reg. No.: |
440301503251629 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Subject is engaged in selling electronics |
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No. of Employees : |
3 |
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 : |
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.
|
Source
: CIA |
Company
name and address
G NEXT IMPORT & EXPORT TRADING
(SHENZHEN) CO., LTD.
B-17C, YUEHAI BUILDING, NANHAI AVENUE, NANSHAN
DISTRICT,
SHENZHEN CITY, GUANGDONG PROVINCE, 518100 PR CHINA
TEL: 86 (0) 755-26482355 FAX: N/A
EXECUTIVE
SUMMARY
INCORPORATION DATE :
May 29, 2007
REGISTRATION NO. :
440301503251629
REGISTERED LEGAL FORM : WHOLLY
FOREIGN-OWNED ENTERPRISE
chief executive
: mR. liu ye (LEGAL REPRESENTATIVE)
STAFF STRENGTH : 3
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE : TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
UNKNOWN
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.36 = 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
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image016.gif){kind=small}
Note:
the given two tel. numbers do not belong to SC.
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 May 29, 2007.
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 wholesaling, importing, exporting
electronics, related components, building materials (excluding steel materials)
and related business (with permit if needed).
SC
is mainly engaged in selling electronics.
SC is
known to have approx. 3 employees at present.
Mr.
Liu Ye has been legal representative, chairman and general manager of SC since
Oct. of 2013.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shenzhen. The detailed information
of the premise is unspecified.
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image017.gif){kind=small}
SC
is not known to host website of its own at present.
E-mail:
41857123@qq.com
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image018.gif){kind=small}
Changes of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
|
2007-10-12 |
Registration No. |
321767 |
Present one |
|
2013-10-10 |
Legal representative |
AMIT MEHTA |
Present one |
Tax
Registration Certificate No.: 440300799203676
Organization
Code: 799203676
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image019.gif){kind=small}
For
the past two years there is no record of litigation.
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image020.gif){kind=small}
MAIN SHAREHOLDERS:
Name %
of Shareholding
Relaytronics
Singapore Pte. Ltd. 100
Telephone:
(65) 6334 7851
Fax:
(65) 6334 7851
E-mail:
relaytro@singnet.com.sg
Web:
www.relaytronics.com.sg
the website is unable to be landed at present.
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image021.gif){kind=small}
Legal representative, Chairman
& General manager:
Mr.
Liu Ye is currently responsible for the overall management of SC.
Working
Experience(s):
From
Oct. of 2013 to present Working
in SC as legal representative, chairman and general manager
Directors:
Umesh
Padamsi Gosar
Doshi
Kartik Bharat
Supervisor:
Wu
Xiuju
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image022.gif){kind=small}
SC
is mainly engaged in selling electronics.
SC’s
products mainly include: electronics.
Trademarks & patents:
N/A
SC
sources its materials 80% from domestic market, and 20% from overseas market. SC
sells 70% of its products in domestic market, and 30% 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 customer and supplier details.
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image023.gif){kind=small}
SC
is not known to have any subsidiary at present.
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image024.gif){kind=small}
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.
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image025.gif){kind=small}
SC’s
management declined to release its bank details.
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image026.gif){kind=small}
SC’s
management declined to release any financial information.
%20CO.,%20LTD.%20-%20345453%2021-Oct-2015_files/image027.gif){kind=small}
SC
is considered small-sized in its line with a development history of 8 years.
Due to lack of financial status, we are unable to recommend accurate credit limit
for SC. Taking into consideration of SC’s general performance, reputation as
well as market conditions we would rate SC as an above average credit risk
company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.89 |
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UK Pound |
1 |
Rs.100.39 |
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Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.