MIRA INFORM REPORT
|
Report No. : |
346814 |
|
Report Date : |
29.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
TIANJIN INFINITE INTERNATIONAL TRADE CO LTD. |
|
|
|
|
Registered Office : |
22-1-1703 Xintiandi Jiayuan, Hedong District, Tianjin, 300011 PR |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
21.07.2009 |
|
|
|
|
Com. Reg. No.: |
120102000055835 |
|
|
|
|
Legal Form : |
Limited liabilities co. |
|
|
|
|
Line of Business : |
Subject scope includes importing and exporting
commodities and technology; developing, providing consulting service and
transferring of electronic products, developing computer software; computer maintenance; repairing network
project, domestic appliances and communication equipment; wholesaling and
retailing computers and peripheral devices, office suppliers, instruments,
construction materials, decoration materials, hardware and electrical
equipment, chemical products (excluding hazardous materials and easily-made
illicit drugs), general merchandises, cultural and sportive products, textile
products, clothes, leather products, plastic products, paper products, local
products and agricultural products |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
TIANJIN INFINITE INTERNATIONAL TRADE CO LTD.
22-1-1703
XINTIANDI JIAYUAN, HEDONG DISTRICT,
TIANJIN,
300011 PR CHINA (REGISTERED ADDRESS)
TEL:
86-(0)-18622083707 FAX: N/A
EXECUTIVE
SUMMARY
INCORPORATION
DATE : JULY 21, 2009
REGISTRATION
NO. : 120102000055835
REGISTERED
LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF
EXECUTIVE : MR. WANG HAO (LEGAL REPRESENTATIVE)
STAFF
STRENGTH : N/A
REGISTERED
CAPITAL :
CNY 1,000,000
REGISTERED
BUSINESS LINE : TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT
: UNKNOWN
MARKET
CONDITION : AVERAGE
FINANCIAL
CONDITION : N/A
OPERATIONAL
TREND :
FAIRLY STEADY
GENERAL
REPUTATION : NOT YET DETERMINED
EXCHANGE
RATE : CNY 6.3604=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 Ren Min Bi
SC
was registered as a limited liabilities co. at local Administration for
Industry & Commerce (AIC-The official body of issuing and renewing business
license) on Jul. 21, 2009.
Company
Status: Limited liabilities co.
This form of business in PR China is defined as a legal
person. No more than fifty shareholders contribute its registered capital
jointly. Shareholders bear limited liability to the extent of shareholding, and
the co. is liable for its debts only to extent of its total assets. The
characteristics of this form of co. are as follows:
Upon the establishment of the co., an investment certificate
is issued to the each of shareholders.
The board of directors is comprised of three to thirteen
members.
The minimum registered capital for a co. is CNY 30,000.
Shareholders may take their capital contributions in cash or
by means of tangible assets or intangible assets such as industrial property
and non-patented technology.
Cash contributed by all shareholders must account for at
least 30% of the registered capital.
Existing
shareholders have pre-exemption right to purchase shares of the co. offered for
sale
by
the other shareholders and to subscribe for the newly increased registered
capital of the co
SC’s
registered business scope includes importing and exporting commodities and
technology; developing, providing consulting service and transferring of
electronic products, developing computer software; computer maintenance; repairing network
project, domestic appliances and communication equipment; wholesaling and
retailing computers and peripheral devices, office suppliers, instruments,
construction materials, decoration materials, hardware and electrical
equipment, chemical products (excluding hazardous materials and easily-made
illicit drugs), general merchandises, cultural and sportive products, textile
products, clothes, leather products, plastic products, paper products, local
products and agricultural products (with permit if needed).
Mr.
Wang Hao is registered as legal representative, executive director and manager
of SC.
We
managed to contact SC’s manager, Mr. Wang Hao, but he refuse to release any
further information. Therefore, the nature and extent of the company's
operations could not be determined and it could not be confirmed whether the
company operates from the Registered Office address or in another location.
SC
is not known to have website of its own at present.
No
significant events or changes were found during our checks with the local
Administration for Industry and Commerce.
Organization
Code: 69067823X
Tax
Registration Number: 12010269067823X
MAIN
SHAREHOLDERS:
Name % of
shareholdings
Wang
Hao 50
Liu
Tongkai 50
Legal Representative. Executive Director and Manager:
Mr.
Wang Hao is currently responsible for the overall management of SC.
Working
Experience(s):
At
present Working in SC as legal
representative, executive director and general manager.
Supervisor
Liu
Tongkai
Due
to the manager’s refusal to communicate, the nature and extent of the company's
operations could not be determined directly.
According
to Internet resources, SC seems to focus on trading bicycles and concerning
components.
SC is not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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: N/A
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.
No banker information could be
determined.
Since the manager refuse to release any company
information, we could not get SC’s financial
information from other sources.
SC
was established in 2009 in a small size. Credit dealings with SC are
recommended under secured terms at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.04 |
|
UK Pound |
1 |
Rs.99.58 |
|
Euro |
1 |
Rs.71.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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.