MIRA
INFORM REPORT
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Report Date : |
20.07.2007 |
IDENTIFICATION DETAILS
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Name : |
OKQUICK
INTERNATIONAL TRADING Co., Ltd. |
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Registered Office : |
Rm09D, Bldg. 1,
No. 2, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
October 17, 2006 |
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Com. Reg. No.: |
1101052996828 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in
acting as an agent for importing and exporting business. |
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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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
OKQUICK INTERNATIONAL
TRADING Co., Ltd.
RM09D, BLDG. 1, no. 2,
chaoyang district,
TEL :
86 (0) 10-87952327
FAX :
86 (0) 10-87952137-806
EXECUTIVE SUMMARY
INCORPORATION DATE : OCTOBER 17, 2006
REGISTRATION NO. : 1101052996828
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
5
REGISTERED CAPITAL :
CNY 1,500,000
BUSINESS LINE :
TRADING
TURNOVER : CNY 0 (AS OF DEC. 31, 2006)
EQUITIES :
CNY 630,000 (AS OF DEC. 31,
2006)
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : FAIR
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : fairLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
7.62 = US1$ AS OF 2007-6-28
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
SC was registered as a limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on October 17, 2006.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. Shareholders bear limited liability to
the extent of shareholding, and the co. is liable for its debts only to
extent of its total assets. The characteristics of this form of co. are as
follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is listed as follows: -manufacturing co. :
CNY 500,000.00 -trading &wholesaling
co. : CNY 500,000.00 -retailing co. : CNY 300,000.00 -consultancy & service
co. :
CNY 100,000.00 Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 50% of the registered capital while
contribution by intangible assets must not exceed 20% of the registered
capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business
scope includes importing and exporting goods and technology and acting as an
agent for it; organizing cultural and artistic exchange activities; economic
trading consultation; exhibition services.
SC is mainly
engaged in acting as an agent for importing and exporting business.
Mr. Xie Gang has been legal representative and chairman of SC since
2006.
SC
owns approximately 5 staff at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Beijing. Our
checks reveal that SC rents the total premise about 160 square meters.
SC is not known to host website of its own at present.
SC started its normal operation in May, 2007.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Xie Gang 66.7
Hao Jinzhe 33.3
l
Legal representative and General manager:
Mr. Xie Gang, 35 years old with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2006 to present Working in SC as chairman and general manager.
SC is mainly engaged
in acting as an agent for importing and exporting business.
SC sources its materials 50%
from domestic market, and 50% from overseas market, mainly
The buying terms of SC include Check, T/T, L/C and Credit of
30-60 days. The payment terms of SC include Check, 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 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.
Bank of
AC#：802219825708091001
Relationship:
Balance Sheet (as of Dec. 31, 2006)
Unit: CNY’000
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Cash & bank |
540 |
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Inventory |
0 |
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Accounts receivable |
0 |
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Other
receivables |
0 |
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Other current
assets |
30 |
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Current assets |
570 |
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Fixed assets |
60 |
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Fixed assets net
value |
60 |
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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 |
630 |
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Short loans |
0 |
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Accounts payable |
0 |
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Other payable |
0 |
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Other current
liabilities |
0 |
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Current
liabilities |
0 |
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Long term
liabilities |
0 |
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Total
liabilities |
0 |
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Equities |
630 |
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Total
liabilities & equities |
630 |
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Income Statement (as of Dec. 31, 2006)
Unit: CNY’000
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Turnover |
0 |
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Cost of goods
sold |
0 |
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Sales expense |
60 |
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Management expense |
20 |
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Finance expense |
0 |
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Profit before
tax |
-70 |
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Less: profit tax |
0 |
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Profits |
-70 |
Overall financial conditions of SC: Fairly
stable.
SC is considered small-sized in its line with a short operating history.
Credit dealings with SC should be confined in to small amount.
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%)