MIRA
INFORM REPORT
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Report Date : |
14th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
LONG
TERM ELET. COMPANY LIMITED |
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Registered Office : |
Room
102, Xin Cehng Guo Ji, No. 535, Qing-Shui-Qiao Road, Scientific &
Technical Park, Ningbo City, Zhejiang Province 315000 Pr China |
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Country : |
China |
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Date of Incorporation : |
03.03.2006 |
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Com. Reg. No.: |
3302002901384 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
The
company is mainly engaged in selling components of
air-condition. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New
Company |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
Company Name
LONG TERM ELET. CO., LTD.
ROOM 102,
XIN CEHNG GUO JI, NO. 535, QING-SHUI-QIAO ROAD, SCIENTIFIC & TECHNICAL
PARK, NINGBO CITY, ZHEJIANG PROVINCE 315000 PR CHINA
TEL :
86 (0) 574-87163528
FAX : 86 (0) 574-87161629
EXECUTIVE SUMMARY
INCORPORATION DATE :
mar. 3, 2006
REGISTRATION NO. :
3302002901384
REGISTERED LEGAL FORM : limited liabilities
company
STAFF STRENGTH :
11
REGISTERED CAPITAL :
CNY 500,000
BUSINESS LINE :
trading
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
UNDER SECURED TEMRS
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
undetermined
OPERATIONAL TREND :
steady
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 7.87 = US$1 AS OF 2006-11-14
SC was registered as a limited liabilities company at local
Administration for Industry & Commerce (AIC-The official body of issuing
and renewing business license) on Mar. 3, 2006.
Company Status: Limited liabilities co. This form of
business in PR China is defined as a legal person. 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 listed as follows: -manufacturing
co. : CNY 500,000.00 -trading
&wholesaling co. : CNY 500,000.00 -retailing co. : CNY 300,000.00 -consultancy &
service co. : CNY 100,000.00 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 50% of the registered capital
while contribution by intangible assets must not exceed 20% 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 scopes
include developing, manufacturing and selling stabilized voltage power supply;
wholesaling and retailing refrigeration facilities, components, metals,
plastic, hardware, and electromechanical products; importing and exporting
commodities and technologies.
SC is mainly engaged
in selling components of air-condition.
Mr. Yu Qiang has been chairman of
SC since 2006.
SC owns about 11 staff at
present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the development zone of Ningbo. Our checks reveal that SC rents
the total premise about 200 square meters.
http://www.longterm.com.cn The design is
professional and the content is well organized. At present the web site is only
in English version.
E-mail: sales@longterm.com.cn
No
significant events or changes were found during our checks with the local
Administration for Industry & Commerce.
MAIN SHAREHOLDERS:
Name
% of Shareholding
Yu Qiang
90
Yuan Ping 10
l
Chairman
and General Manager:
Mr. Yu
Qiang, ID#330203196512151819, 41 years old with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
Since 2006 Working in SC as
chairman and general manager.
SC is mainly engaged in selling components of air-condition.
SC’s products mainly include: components of air-condition, etc.
SC sources its materials 100%
from domestic market, maingly Zhejiang province; SC sells its products 10% in
domestic market, and 90% to overseas market, mainly European countries and
India.
The buying terms of SC include
T/T and Credit of 30-60 days. The payment terms of SC include T/T, L/C and
Credit of 30-60 days.
*Major Supplier:
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Wenling Tingwei Vacuum Equipment Co., Ltd.
Address: Lin’ao Industrial Zone, Wenling, Zhejiang Province
Tel : 0576-6259788
Fax : 0576-6259958
*Major Customer:
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DISTINCT LTD.
SC is
not known to have any subsidiary at present.
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.
Commercial Bank
AC#：24010122000024860
Relationship:
Normal.
SC was established
recently in 2006, so its financial statements are not available at present.
SC was
established recently in 2006, and its credit has not been established yet.
Credit dealings with SC are recommended under secured terms at present.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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