MIRA
INFORM REPORT
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Report Date : |
26.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
zhejiang keyong
chemicals co., ltd. |
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Registered Office : |
Hangzhou Bay Fin
Chemical Zone, Shangyu, Zhejiang Province, 312369 Pr |
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Country : |
China |
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Date of Incorporation : |
December 26, 2006 |
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Com. Reg. No.: |
003915 |
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Legal Form : |
Chinese-Foreign Equity Joint Venture
Enterprise |
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Line of Business : |
Engaged in
manufacturing and selling chemical dyestuff. |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
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Maximum Credit Limit : |
Up To USD 10,000 |
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Status : |
New Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
zhejiang keyong chemicals
co., ltd.
hangzhou bay fin chemical zone, shangyu,
zhejiang PROVINCE, 312369 PR CHINA
TEL :
86 (0) 575-2516237
FAX :
86 (0) 575-2517238
EXECUTIVE SUMMARY
INCORPORATION DATE : december 26, 2006
REGISTRATION NO. : 003915
REGISTERED LEGAL FORM : Chinese-foreign equity
joint venture enterprise
STAFF STRENGTH :
150
REGISTERED CAPITAL : usd 3,100,000
BUSINESS LINE :
manufacturing
TURNOVER :
n/a (AS OF DEC. 31, 2006)
EQUITIES :
n/a (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 10,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY7.72 = US$1 AS OF 2007-4-26
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 Chinese-foreign equity joint venture enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on December 26, 2006.
Company Status: Chinese-foreign equity joint venture
enterprise This form of business in PR
China is defined as a legal person. It is a limited co. jointly invested by
one or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of
capital investment. The investing parties exercise business management,
share profits and bear all risks and liabilities of the co. together. The
equity joint venture law requires that foreign party contribute not less
than 25% of the registered capital, with no maximum. The joint venture
usually have a limited duration of 10 to 50 years. Enterprise with large
investment, long construction periods, low investment returns, introducing
of advanced technology & advanced technology products which have good
competition position in international market may extend beyond the 50 years
limit.
SC’s registered
business scope includes manufacturing chemical dyestuff, selling its products.
SC is mainly
engaged in manufacturing and selling chemical dyestuff.
Mr. Xiang Zhifeng has
been chairman of SC since 2006.
SC owns about 150
staff at present.
SC is
currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Shangyu. Our checks
reveal that SC rents the total premise about 32,000 square meters.
SC is not known to host web site of its own at present.
No significant events or changes were found during our checks with the
local Administration for Industry & Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shanghai Kehua Dyestuff Industry Co., Ltd. 40
Hong Kong Jinhui International Ltd. 60
l
Chairman:
Mr. Xiang Zhifeng, about 45 years old with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 2006 to present Working
in SC as chairman.
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General Manager:
Mr. Chen Zhixin, about 45 years old with university education. He is
currently responsible for the daily management of SC.
Working Experience(s):
From 2006 to present
Working in SC as general
manager.
SC is mainly
engaged in manufacturing and selling chemical dyestuff.
SC has started its
normal operation in April of 2007.
SC’s products
mainly include: chemical dyestuff.
SC sources its materials 80% from domestic
market, and 20% from overseas market, mainly India. SC sells 100% of its
products in domestic market, mainly Zhejiang and Jiangsu.
The buying terms of SC include T/T, L/C and Credit of 30-45 days. The
payment terms of SC include T/T and Credit of 30 days.
*Major Customer:
==============
Shanghai Kehua Dyestuff Industry Co., 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.
Agricultural Bank of China Shangyu Sub-Branch
AC#：515201040018733
Relationship:
Normal.
SC was established recently in December of 2006, and its financial
reports are not available at present.
SC was established recently in December of 2006, and its credit has not
been established yet. Credit dealings with SC should be confined into small
amount 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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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%)