MIRA
INFORM REPORT
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Report Date : |
08.06.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
No. 59, |
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Country : |
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Date of Incorporation : |
January 11, 2005 |
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Com. Reg. No.: |
1201032009459 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and exporting waste metal and related metals. |
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 : |
Usually correct |
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Litigation : |
Clear |
name & address
NO. 59,
TEL :
86 (0) 22-23318552
FAX :
86 (0) 022-23390826
EXECUTIVE SUMMARY
INCORPORATION DATE : JANUARY 11, 2005
REGISTRATION NO. : 1201032009459
REGISTERED LEGAL FORM : LIMITED LI
STAFF STRENGTH : 8
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : fair
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
7.64 = US1$ AS OF 2007-6-7
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: The correct name is the heading one instead of the given one-Tianjin Runtong Tmp, and the address clients given is SC’s registered address.
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 11, 2005.
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 retailing and wholesaling metal materials, building materials,
livestock products, hardware, chemicals, electronics, textiles, garments,
stationery & sport products, rubber & plastics, machinery, minerals;
commodities information consultation; importing and exporting goods and
technology.
SC is mainly engaged
in importing and exporting waste metal.
Mr.
Wang Yan has been legal representative and chairman of SC since 2005.
SC
owns approximately 8 staff at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Tianjin. 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 correct telephone number should be the above one, instead of the
given telephone number – 88211757. The given address is SC’s registered
address, but SC is operating at the above stated address now.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wang Yan 80
Cang Jun 20
l
Legal representative and General manager:
Mr. Wang Yan, in his 40’s with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2005 to present Working in SC as chairman and general manager.
SC is mainly
engaged in importing and exporting waste metal and related metals.
SC sources its materials 70% from
domestic market, and 30% 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.
SC’s management
declined to release its bank details.
SC's financial reports are not found in the local AIC.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a short development history.
Great caution is required in providing credit to SC & COD is recommended.
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%)