MIRA
INFORM REPORT
|
Report Date : |
03.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
SHAANXI YIYUAN IMPORT & EXPORT CO., LTD. |
|
|
|
|
Registered Office : |
Xincheng District, |
|
|
|
|
Country : |
|
RATING & COMMENTS
|
MIRA’s Rating : |
NR |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
Status : |
Undetermined |
name &
address
SHAANXI YIYUAN IMPORT & EXPORT CO., LTD.
XINCHENG DISTRICT,
TEL : N/A
FAX : N/A
Alert report
This refers to a type of report whose format is different from that of a standard report. Such type of report is provided when:
l
Information obtained is insufficient for compiling
a standard report.
l
The enquired co has been out of business or its
business address has been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its
credit standing.
The telephone number and fax number clients provided are as below:
TEL: 86 (0) 29-33258508
FAX: 86 (0) 29-33258509
We have dialed the above numbers in the past several days, but neither
of them can be connected. Exhausting our efforts, we are unable to find its
other telephone numbers in various information sources, including the internet,
yellow pages and telecom companies.
The address client provided is: Xincheng District,
The given address is not in
details, so a spot visit is not available.
Investigations were made with the local Administration for Industry and Commerce (the authority that issuing and renewing business license), but no record of SC was found.
From web page http://uk.answers.yahoo.com/question/index?qid=20070726011733AA13c7t.,
we found some negative information
against SC and quoted below:
A: Has anyone any experience of trade with Shaanxi Yiyuan Import &
Export Co. Xi'an,
B: It’s a scam.
Been fooled once! They make a jackass of you. This is what they do.
They will ask for
a quote of some of your products/services. Their requirement will be very
large. They will claim to be procurement agents for Govt. There won’t much
discussion on the ordered item, maybe they'll ask for some small discount on the
overall price.
They will ask you
to come to china to sign the contract. Just before a day or two before you
leave, they will ask you come prepared for a small % (may be 0.05%) of the
order value to be paid as some legal fees.
This is where they
usually make all their money (could be as little as 900-1000$ per victim, which
we usually ignore against an order value running in lakhs).
You will go there,
sign the contract, take pictures, a nice dinner with them and come back home.
They will promise to pay the advance in a week or two.
Nothing will
happen.
This is what you
can do, go thru as usual till the order is finalized. If they ask you to come
to china, turn on your antennas, something fishy! Finally if they ask you to
come prepared for the legal fees, that’s a certain fraud. There is no such
requirement for any legal registration or whatever.
Considering the above investigation results, no credit
dealings with SC are recommended at present.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)