MIRA INFORM REPORT
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Report No. : |
339489 |
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Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
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Name : |
CHINA COAL OVERSEAS DEVELOPMENT CO., LTD. |
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Registered Office : |
Meiji Mansion, No.
192 Andingmenwaidajie, Dongcheng District Beijing 100011 Pr |
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Country : |
China |
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Date of Incorporation : |
04.04.1981 |
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Com. Reg. No.: |
110000009306189 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject includes undertaking overseas engineering and
domestic engineering; foreign aid project; importing and exporting
commodities related to foreign engineering and labor cooperation |
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No. of Employee : |
60 |
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
|
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.
After keeping its currency tightly linked to the US dollar for years, in July
2005 China moved to anEXCHANGE 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
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 that year... Still, per
capita income is below the world average.
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 2011 more than 250 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 fixedINVESTMENTS,
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 implemented several economic reforms in 2014,
including legislation allowing local governments to issue bonds, further
opening several state-owned enterprises to private investment, loosening the
one-child policy, passing harsher pollution fines, and cutting administrative
red tape.
|
Source
: CIA |
company
name and address
CHINA COAL
OVERSEAS DEVELOPMENT CO., LTD.
MEIJI MANSION, NO.
192 ANDINGMENWAIDAJIE, DONGCHENG DISTRICT
BEIJING 100011 PR
CHINA
TEL: 86 (0) 10-64249366/64268334/64268332
FAX: 86 (0) 10-64265505/64265505
EXECUTIVE
SUMMARY
Date of Registration : april 4, 1981
REGISTRATION NO. : 110000009306189
LEGAL FORM : Limited Liability Company
REGISTERED CAPITAL : CNY
20,000,000
staff : 60
BUSINESS CATEGORY : CONSTRUCTION
CONTRACT
Revenue : N/A
EQUITIES : N/A
WEBSITE : http://chinacoal-overseas.com
E-MAIL : cmeoffice@263.net
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.20 = USD 1
ADOPTED ABBREVIATIONS (AS FOLLOWS)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL
TREND & GENERAL REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL
STATUS & HISTORY
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 110000009306189
on April 4, 1981.
SC’s Organization Code Certificate No.:
10000018-X
SC’s Tax No.: 11010110000018X
SC’s registered capital: CNY 20,000,000
SC’s paid-in capital: CNY 20,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
|
Registered Capital |
CNY 4,167,200 |
CNY 10,000,000 |
|
|
Registered Capital |
CNY 10,000,000 |
CNY 20,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
China National Coal Mining Equipment Co.,
Ltd. |
50 |
|
Chinacoal Beijing Coal Mining Machinery
Co., Ltd. |
25 |
|
China Coal Zhangjiakou Coal Mining
Machinery Co., Ltd. |
25 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Dai Qiuliang |
|
Director |
Ma Li |
|
Qian Jiangang |
|
|
Supervisor |
Hou Xinyi |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
China National Coal Mining Equipment Co.,
Ltd 50
Chinacoal Beijing Coal Mining Machinery Co.,
Ltd. 25
China Coal Zhangjiakou Coal Mining Machinery
Co., Ltd. 25
China National
Coal Mining Equipment Co., Ltd.
-----------------------------------------------------------------
Date of Registration: April 26, 1988
Registration No.: 100000000007925
Legal Form: One-person Limited
Liability Company
Registered Capital: CNY 7,623,597,469
Chinacoal Beijing
Coal Mining Machinery Co., Ltd.
--------------------------------------------------------------------
Date of Registration: January 24, 1981
Registration No.: 110000007604616
Legal Form: One-person Limited
Liability Company
Registered Capital: CNY 828,218,100
China Coal
Zhangjiakou Coal Mining Machinery Co., Ltd.
----------------------------------------------------------------------------
Date of Registration: May 16, 2000
Registration No.: 130700000002177
Legal Form: One-person Limited
Liability Company
Registered Capital: CNY 3,340,854,469
MANAGEMENT
Dai
Qiuliang, Legal Representative, Chairman
and General Manager
----------------------------------------------------------------------------------------------------
Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman and general manager
Director
-----------
Ma Li (Also working in China Coal
Zhangjiakou Coal Mining Machinery Co., Ltd. as legal representative)
Qian Jiangang
Supervisor
-------------
Hou Xinyi
BUSINESS
OPERATION
SC’s registered business scope includes undertaking overseas
engineering and domestic engineering; foreign aid project; importing and
exporting commodities related to foreign engineering and labor cooperation, excluding 16 kind of
export commodities and 12 kinds of import & exporting commodities; acting
import & exporting business for SC’s related companies; dispatching labors
in engineering, production and other industries; labor service cooperation with
foreign resources, assets, and technology; undertaking engineering, survey and
design.
SC is mainly engaged
in construction contract.
The buying terms
of SC include T/T, L/C and Credit of 30-60 days. The payment terms of SC
include T/T, L/C and Credit of 30-60 days.
*Major Customers:
==============
Parsons Chain USA
Longwall Services
Inc.
Staff & Office:
--------------------------
SC is known
to have approx. 60 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED
COMPANY
SC
is not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
The bank
information of SC is not filed in SAIC.
FINANCIALS
The financials of SC is not available in
local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered small-sized in its line with a development history of
34 years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.23 |
|
|
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
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Analysis Done by
: |
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 |
-- |
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.