MIRA
INFORM REPORT
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Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
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Name : |
benxi leilong
commercial Co., Ltd. |
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Registered Office : |
2A, Hengsheng
Building, Jiuding Garden, No. 83-1, North Jiefang Road, Yongmin Street, Mingshan
District, Benxi, Liaoning Province, 117000 Pr |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
January 18, 2004 |
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Com. Reg. No.: |
2105002301130 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Wholesaling and
retailing different sorts of hardware, chemical products and cooking
utensils, etc. |
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 : |
Up To USD 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
benxi leilong
commercial Co., Ltd.
2a,
no. 83-1,
TEL: 86 (0) 414-2216973
FAX: 86 (0) 414-2216971
EXECUTIVE SUMMARY
INCORPORATION DATE : january 18, 2004
REGISTRATION NO. : 2105002301130
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 5
REGISTERED CAPITAL : CNY 3,270,000
BUSINESS LINE : WHOLESALING
AND RETAILING
TURNOVER : CNY 20,310,000 (AS OF DEC. 31, 2006)
EQUITIES : CNY 3,358,000
(AS OF DEC. 31, 2006)
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
7.65 = US1$ AS OF 2007-5-24
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: SC’s full company name should be Benxi Leilong Commercial Co., Ltd., while the given name- RPBH International Co., Ltd. is SC's trading name.
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 January 18, 2004.
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 selling chemicals (excluding
the hazard products), mechanical equipments and parts, textiles, and providing
related services; importing and exporting various
goods and technologies (excluding the good prohibited or limited by the
country); selling hardware and building materials.
SC is mainly
engaged in selling different sorts of hardware and chemical products.
Ms.
Zhu Yanmei has been legal representative and chairman of SC since 2004.
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 Benxi. Our checks
reveal that SC rents the total premise about 80 square meters.
SC is not known to host website of its own at present.
SC’s former registered capital was CNY 1,000,000, and in January 2007, it was changed to CNY 3,270,000.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhu Yanmei 89.8
Mei Yong 10.2
l
Legal representative and General manager:
Ms.
Working Experience(s):
From 2004 to present Working in SC as chairman and general manager.
SC is mainly
engaged in wholesaling and retailing different sorts of hardware, chemical
products and cooking utensils, etc.
SC sources its materials 100%
from domestic market. SC sells 90% of its products in domestic market, and 10%
to overseas market, mainly Southeast Asian market.
The buying terms of SC include Check, T/T 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.
SC’s management declined
to release its bank details.
Financial Information
Unit: CNY’000
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as of Dec. 31,
2006 |
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Total
liabilities |
5,295 |
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Shareholders
equities |
3,358 |
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Total Assets |
8,653 |
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Turnover |
20,310 |
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Net profit |
-45 |
Important Ratios
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as of Dec. 31,
2006 |
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*Liabilities
to assets |
0.61 |
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*Net profit
margin (%) |
-0.22 |
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*Return on
total assets (%) |
-0.52 |
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*Turnover/Total
assets |
2.35 |
PROFITABILITY:
FAIR
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The turnover of SC appears fairly good in its line.
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SC’s net profit margin is fair.
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SC’s return on total assets is fair.
LIQUIDITY: FAIR
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SC’s turnover is in an acceptable level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
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The debt ratio of SC is average.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fair.
SC is considered small-sized in its line with fair 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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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%)