MIRA
INFORM REPORT
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Report Date : |
26th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
DYSTAR NANJING
COLOURS CO., LTD. |
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Registered Office : |
No. 9 Bailong Road, Nanjing Chemical Park, Jiangsu Province, 210047 Pr
China. |
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Country : |
China |
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Date of Incorporation : |
29.09.2004 |
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Com. Reg. No.: |
007327 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Engaged in manufacturing and selling textile dyes. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
DYSTAR NANJING COLOURS CO., LTD.
NO. 9 BAILONG ROAD, NANJING CHEMICAL PARK, JIANGSU
PROVINCE, 210047 PR CHINA
TEL : 86 (0) 25-58392298
FAX : 86 (0) 25-58392299
EXECUTIVE SUMMARY
INCORPORATION DATE : SEP. 29, 2004
REGISTRATION NO. : 007327
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED
ENTERPRISE
STAFF STRENGTH :
80
REGISTERED CAPITAL : USD 18,340,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : small amount
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.77= US$1 AS OF 2007-2-15
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
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. 29, 2004.
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 textiles
and chemical fiber additive, oil solutions and dye, and providing related
services; manufacturing and selling high performance paint.
SC is mainly
engaged in manufacturing and selling textile dyes.
Mr. Gerald Talhoff
has been chairman of SC since 2004.
SC owns about 80
staff at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the industrial zone of Nanjing. Our checks reveal that SC
rents the total premise about 12,000 square meters.
http://www1.dystar.com The design is professional and the content
is well organized. At present it is in both Chinese and English versions.
Established in September 2004, SC just started its normal operation in
May 2006.
MAIN SHAREHOLDERS:
Name %
of Shareholding
DyStar Textilfarben GmbH 100
====================
DyStar is a leading supplier of dyes, auxiliaries
and services for the textile industry. Now the company is broadening its
horizons and moving into leather and other sectors. Contact us to learn more
about our excellent prospects for the future.
Name: DyStar Textilfarben GmbH
Sales: approx. EUR 740 million in 2005
Employees: approx. 4,000 worldwide
Sites: Headquarters in Frankfurt,
Germany
Regional centres in Frankfurt, Singapore and
Charlotte, USA
33 subsidiaries in key markets
Agencies in approx. 50 countries
Production facilities in 9 countries
Products: Dyes, auxiliaries and services for
the textile industry
Auxiliaries for the leather and paper
industries
Custom manufacturing
Industriepark Höchst
Building B 598
65926 Frankfurt
Germany
Phone ++49 69 21 09-0
Fax ++49 69 21 09-20 00
l
Chairman and
General Manager:
Mr. Gerald Talhoff, in his 40’s with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 2004 to present Working
in SC as general manager.
SC is mainly
engaged in manufacturing and selling textile dyes.
SC’s products
mainly include: Dyes, auxiliaries and services for the textile industry, Auxiliaries
for the leather and paper industries.
Established in
September 2004, SC just started its normal operation in May 2006.
SC sources its
materials 40% from domestic market and 60% from the overseas markets mainly
from Europe. SC sells 70% of its products in domestic market and 30% to the
overseas markets, mainly to Europe.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
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 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.
SC’s management
refused to release its bank details.
SC just started its normal operation in May 2006, so its annual financial
reports are not available at present.
SC was established in 2004, but just started its production in May 2006.
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%)
PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions