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MIRA
INFORM REPORT
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Report Date : |
14th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
CLEO INTERNATIONAL
TRADING (SHANGHAI) CO., LTD. |
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Registered Office : |
Room
1403 No. 16 Lane, No. 1310 Dingxi Road, Shanghai, 200050 Pr China. |
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Country : |
China |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
18.01.2001 |
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Com. Reg. No.: |
313766 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Engaged
in international trade. |
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 : |
USD
10,000 |
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Status : |
Small
Company |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company Name & Address
CLEO INTERNATIONAL TRADING (SHANGHAI) CO., LTD.
ROOM
1403 NO. 16 LANE, NO. 1310 DINGXI ROAD, SHANGHAI, 200050 PR CHINA.
TEL: 86 (0) 21-62101572
FAX: 86 (0) 21-62101573
EXECUTIVE SUMMARY
INCORPORATION DATE :
JAN. 18, 2001
REGISTRATION NO. :
313766
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED
ENTERPRISE
STAFF STRENGTH :
4
REGISTERED CAPITAL :
USD 250,000
BUSINESS LINE :
TRADING
TURNOVER :
cny 1,240,000 (AS OF DEC. 31, 2005)
EQUITIES :
cny 1,750,000 (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
UP TO USD 10,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 7.77 = US$1 AS OF 2007-2-12
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
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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 Jan. 18, 2001.
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 international trade, transiting trade, trade
between the enterprises in the free trade zone; and trade consulting
service.
SC is mainly engaged in
international trade.
Mr. Hor Kim Choon has been
chairman of SC since 2001.
SC owns about 4 staff at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shanghai. Our checks reveal that SC
rents the total premise about 100 square meters.
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SC is
not known to host website of its own at present.
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No
significant events or changes were found during our checks with local AIC.
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MAIN SHAREHOLDERS:
Name %
of Shareholding
Cleo Singapore Pte., Ltd. 100
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Chairman and General Manager:
Mr. Hor
Kim Choon, in his 40’s with university education. He is currently responsible
for the overall management of SC.
Working Experience(s):
From 2001 to present Working
in SC as chairman and general manager.
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SC is mainly engaged in
international trade.
SC’s products mainly include:
medicinal materials.
SC sources its materials 100%
from domestic market. SC sells 100% of its products to the overseas markets,
mainly to Europe.
The
buying terms of SC include Check, 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 Client:
============
Cleo Singapore Pte. Ltd.
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SC is
not known to have any subsidiary at present.
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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 refused to release any
information of its suppliers and the trade reference was not available.
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.
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Shanghai
Bank Jiangsu Road Sub-branch
AC#：21066070061003375
Relationship:
Normal.
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Balance Sheet
Unit: CNY’000
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As of Dec. 31,
2005 |
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Cash & bank |
3,330 |
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Accounts receivable |
0 |
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Accounts payable advance |
0 |
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Other receivables |
60 |
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Inventory |
0 |
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Other current assets |
10 |
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Current assets |
3,400 |
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Fixed assets net value |
150 |
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Projects under construction |
0 |
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Long term investment |
0 |
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Other assets |
0 |
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Total assets |
3,550 |
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Short loans |
0 |
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Accounts payable |
0 |
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Accounts receivable advance |
0 |
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Taxes payable |
0 |
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Salaries payable |
0 |
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Other payable |
1,780 |
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Other current liabilities |
20 |
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Current liabilities |
1,800 |
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Long term liabilities |
0 |
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Total liabilities |
1,800 |
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Equities |
1,750 |
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Total liabilities &
equities |
3,550 |
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Income Statement
Unit: CNY’000
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As of Dec. 31, 2005 |
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Turnover |
1,240 |
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Cost of goods sold |
750 |
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Sales expense |
80 |
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Management expense |
140 |
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Finance expense |
0 |
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Profit before tax |
190 |
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Less: profit tax |
0 |
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Profits |
190 |
Important Ratios
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as
of Dec. 31, 2005 |
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*Current ratio |
1.89 |
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*Quick ratio |
1.89 |
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*Liabilities
to assets |
0.51 |
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*Net profit
margin (%) |
15.32 |
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*Return on
total assets (%) |
5.35 |
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*Fixed
assets/Total assets |
0.04 |
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*Inventory
/Turnover ×365 |
0 |
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*Accounts
receivable/Turnover ×365 |
0 |
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*Turnover/Total
assets |
0.35 |
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* Cost of
goods sold/Turnover |
0.60 |
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PROFITABILITY: AVERAGE
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The
turnover of SC appears fair in its line
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SC’s
net profit margin is average in 2005.
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SC’s
return on total assets is average in 2005.
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SC’s
cost of goods sold is average, comparing with its turnover.
LIQUIDITY: AVERAGE
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The
current ratio of SC is maintained in a normal level.
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SC’s
quick ratio is maintained in a normal level.
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SC
has no inventory in 2005.
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SC
has no accounts receivable in 2005.
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SC’s
turnover is in a fair level, comparing with the size of its total assets.
LEVERAGE: AVERAGE
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The
debt ratio of SC is average.
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The
risk for SC to go bankrupt is above avrage.
Overall financial condition of the SC:
Stable.
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SC is
considered small-sized in its line with stable financial conditions. A credit
line up to USD 10,000 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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