MIRA
INFORM REPORT
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Report Date : |
01.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
takemoto oil &
fat (suzhou) co., ltd. |
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Registered Office : |
No.
358, Heshan Road, High-Tech Zone, Suzhou City, Jiangsu Province 215129 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
sep. 17,
1997 |
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Com. Reg. No.: |
000593 |
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Legal Form : |
Wholly
Foreign-Owned Enterprise |
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Line of Business : |
Manufacturing and
selling oil solutions used for textile and fiber. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Up To usd 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
takemoto oil &
fat (suzhou) co., ltd.
no. 358, heshan road, high-tech zone, suzhou
city
jiangsu province 215129 PR CHINA
TEL: 86 (0) 512-66617491
FAX: 86 (0) 512-65364711
EXECUTIVE SUMMARY
INCORPORATION
DATE : sep. 17, 1997
REGISTRATION
NO. : 000593
REGISTERED
LEGAL FORM : wholly foreign-owned enterprise
STAFF
STRENGTH : 68
REGISTERED
CAPITAL : uSd 7,200,000
BUSINESS
LINE : manufacturing
TURNOVER : cny 170,370,000 (AS
OF DEC. 31, 2005)
EQUITIES : CNY 90,780,000
(AS OF DEC. 31, 2005)
PAYMENT : AVERAGE
RECOMM.
CREDIT RANGE : up to usd 1,000,000
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : fairly good
OPERATIONAL
TREND : steady
GENERAL
REPUTATION : average
EXCHANGE
RATE : CNY 7.77 = US$1
AS OF 2007-01-30
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
Note: SC’s concrete name should be the above
stated one, instead of the given name Takemoto Oil
SC was registered as a wholly foreign-owned enterprise at local Administration for Industry & Commerce (AIC-The official body of issuing and renewing business license) on Sep. 17, 1997.
Company Status: Wholly foreign-owned
enterprise. This
form of business in PR China is defined as a legal person. It is a limited
co. established within the territories of PR China with capital provided
totally by the foreign investors. More than one foreign investors may
jointly invest in a wholly foreign-owned enterprise. The investing
party/parties solely exercise management, reap profit and bear risks and
liabilities by themselves. This form of companies usually have a limited
duration is extendible upon approval of Examination and Approval
Authorities.
SC’s registered business scope includes manufacturing and selling chemical product used for fiber and civil construction, various of surfactant, resin modified preparation, and edible oil used for industry; technical services, commercial wholesale, import & export business, commission agency, and other related business of the above products.
SC is mainly engaged in manufacturing and
selling oil solutions used for textile and fiber.
Mr. tatebe
nakoto has been chairman of SC since 1997.
SC owns about 68 staff at present.
SC is currently operating at the above stated address, and this address houses its operating office and factory in the development zone of Suzhou. Our checks reveal that SC owns the total premise about 10,000 square meters.
SC is not known to host web site of its own at present.
SC’s total investment is USD 13,640,000. Till December 31, 2005, SC’s paid-up capital reached CNY 59,610,000.
MAIN SHAREHOLDERS:
Name
% of Shareholding
Takemoto Oil & Fat Co., Ltd. (Japan)
100
l
Chairman
Mr. tatebe nakoto, in his 50’s with university education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 1997 to present Working in SC as chairman.
l
General Manager
Mr. INAGAWA HIROSHI, in his 40’s with university education. He is currently responsible for the daily management of SC.
Working Experience(s):
From 1997 to present Working in SC as general manager.
SC is mainly engaged in manufacturing and
selling oil solutions used for textile and fiber.
SC
sources its materials 95% from domestic market, mainly Jiangsu province, and 5%
from overseas market, mainly Japan; SC sells its products 100% in domestic
market, mainly Jiangsu province.
The buying terms of SC
include T/T, L/C and Credit of 30-60 days. The payment terms of SC include T/T
and Credit of 15-30 days.
*Major Suppliers:
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Jiangsu Yong’an Antiseptic Co., Ltd.
*Major Customers:
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Jiangyin Xinlun
Chemical Fiber Co., Ltd.
Address:
Sanfang Lane, Zhouzhuang, Jiangsu
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.
Construction Bank
AC#：32201988636050349352
Relationship: Normal.
Balance Sheet (as of Dec. 31, 2005)
Unit: CNY’000
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Cash & bank |
29,480 |
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Inventory |
21,830 |
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Bills receivable |
22,530 |
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Accounts receivable |
13,130 |
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Other Accounts receivable |
790 |
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Accounts payable in advance |
0 |
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To be apportioned expense |
0 |
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Other current assets |
20 |
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Current assets |
87,780 |
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Fixed assets |
27,090 |
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Fixed assets net value |
24,780 |
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Projects under construction |
2,310 |
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Long term investment |
0 |
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Other assets |
11,220 |
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Total assets |
126,090 |
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============= |
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Short loans |
0 |
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Accounts payable |
17,590 |
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Accounts receivable in advance |
0 |
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Other Accounts payable |
3,220 |
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Salaries payable |
1,220 |
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Welfares payable |
100 |
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Taxes payable |
1,460 |
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Withdraw the expenses in advance |
0 |
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Other current liabilities |
10 |
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Current liabilities |
23,600 |
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Long term liabilities |
11,710 |
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Other liabilities |
0 |
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Total liabilities |
35,310 |
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Equities |
90,780 |
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Total liabilities & equities |
126,090 |
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Income Statement (as of Dec. 31, 2005)
Unit: CNY’000
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Turnover |
170,370 |
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Cost of goods sold |
139,840 |
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Sales expense |
5,350 |
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Management expense |
14,110 |
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Finance expense |
-5,430 |
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Non-operating income |
3,370 |
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Profit before tax |
19,870 |
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Less: profit tax |
1,650 |
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Profits |
18,220 |
Important Ratios
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As of Dec. 31, 2005 |
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*Current ratio |
3.72 |
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*Quick ratio |
2.79 |
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*Liabilities to assets |
0.28 |
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*Net profit margin (%) |
10.69 |
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*Return on total assets (%) |
14.45 |
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*Inventory /Turnover ×365 |
47 days |
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*Accounts receivable/Turnover ×365 |
28 days |
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*Turnover/Total assets |
1.35 |
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* Cost of goods sold/Turnover |
0.82 |
PROFITABILITY: FAIRLY GOOD
l
The turnover of SC
appears fairly good in its line.
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SC’s net profit
margin is fairly good.
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SC’s return on
total assets is fairly good.
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SC’s cost of goods
sold is average, comparing with its turnover.
LIQUIDITY: FAIRLY GOOD
l
The current ratio
of SC is maintained in a fairly good level.
l
SC’s quick ratio
is maintained in a fairly good level.
l
The inventory of
SC is maintained in a normal level.
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The accounts
receivable of SC is maintained in an acceptable level.
l
SC has no
short-term loan in 2005.
l
SC’s turnover is
in a fairly good level, comparing with the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of
SC is low.
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The risk for SC to
go bankrupt is low.
Overall financial condition of the SC: Fairly good.
SC is considered medium-sized in its line with fairly good financial conditions. A credit line up to USD 1,000,000 would appear to be within SC’s capacities.
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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