MIRA
INFORM REPORT
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Report Date : |
05.07.2007 |
IDENTIFICATION DETAILS
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Name : |
DONGGUAN DALINGSHAN SELENA FOOTWEAR FACTORY |
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Registered Office : |
The 3rd of |
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Country : |
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Date of Incorporation : |
JUL. 28, 1999 |
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Com. Reg. No.: |
19299 |
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Legal Form : |
Processing And Assembly Agreements |
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Line of Business : |
Manufacturing and processing shoes. |
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 : |
Regular |
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Litigation : |
Clear |
name & address
DONGGUAN DALINGSHAN SELENA FOOTWEAR FACTORY
THE 3RD OF
TEL : 86 (0)
769-85616788
FAX : 86 (0) 769-85616788
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUL. 28, 1999
REGISTRATION NO. :
19299
REGISTERED LEGAL FORM : PROCESSING AND ASSEMBLY AGREEMENTS
STAFF STRENGTH :
2,000
REGISTERED CAPITAL : HKD 11,670,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.60 =US1$ AS OF 2007-7-4
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 processing and assembly agreements at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Jul. 28, 1999.
Company Status:
Processing and assembly agreements This form of business is formed
upon an agreement between a Chinese party and a foreign party. The materials
to be processed are supplied by the foreign party while the equipment &
other production facilities being provided by other side. The Chinese party
(factory) processes the materials which are then delivered to the foreign
party for marketing in exchange for processing fee. In actuality, such
arrangements are more akin to a labor and factory rental arrangement as the
foreign party will have exclusive management rights over the Chinese party
(factory).
SC’s registered
business scope includes processing male-female leather shoes.
SC is mainly
engaged in manufacturing and processing shoes.
Mr. Liu Ruiming
has been factory manager of SC since 1999.
SC owns 2,000
staff at present.
SC is currently
operating at the above stated address, and this address houses its head office
in the industrial zone of Dongguan. Our checks reveal that SC rents the total
premise about 15,000 square meters.
SC is not known to host website of its own at present.
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name Cooperation
condition
Stella International LTD. (
Dongguan Dalingshan Industry Co., Ltd. Providing labors and
premises
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Factory Manager:
Mr. Liu Ruiming, in his 40’s with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 1999 to present Working in SC as factory manager.
SC is mainly
engaged in manufacturing and processing shoes.
SC’s products mainly include: leather shoes.
SC sources its materials 100% from the overseas market. SC sells 100% of its products to the overseas market mainly to
The buying terms of SC include Check, T/T and Credit of
days. The payment terms of SC include Check, T/T, and Credit of days.
*Major Client:
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Stella International LTD.
*Major Supplier:
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Stella International 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.
Construction
Bank of
AC#: N/A
Relationship:
Incorporated as a processing and assembly
agreements, SC is not required to file its financial reports to the local AIC.
Therefore, SC’s financial reports are not available.
SC’s management refused to release any of its financial information.
SC is considered large-sized in its line with a development history of 8
years. Credit dealings with SC in moderate amount can be considered.
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%)