MIRA
INFORM REPORT
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Report Date : |
01.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
FUJIAN SANMU IMPORT AND EXPORT TRADE CO., LTD. |
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Registered Office : |
10/F, Liangshi Bldg, No.60 Guping Road, Fuzhou, Fujian
Province, Pr |
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Country : |
China |
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Date of Incorporation : |
Sep. 24, 2001 |
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Com. Reg. No.: |
3501051100319 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged
in importing and exporting presents, handicrafts, ornaments,
hardware, mechanical and electrical products, garments, shoes and raw
materials. |
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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
FUJIAN SANMU IMPORT AND EXPORT TRADE CO., LTD.
10/F, LIANGSHI BLDG, NO.60 GUPING ROAD,
FUZHOU, FUJIAN PROVINCE, PR CHINA
TEL : 0086-591-87547457
FAX :
0086-591-87507266
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEP. 24, 2001
REGISTRATION NO. :
3501051100319
REGISTERED LEGAL FORM :
LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. KE ZHENMING (CHAIRMAN)
STAFF STRENGTH :
47
REGISTERED CAPITAL :
CNY 10,000,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
SMALL AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 7.46921=US1$
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
SC was registered as a limited liabilities co. at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Sep. 24, 2001.
Company Status: Limited liabilities co. This
form of business in PR China is defined as a legal person. No more than
fifty shareholders contribute its
registered capital jointly. 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 CNY 30,000. 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 30% 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 commodities and technologies, excluding the
items limited
or prohibited by the state; processing with imported materials,
processing with imported samples, assemblying with imported parts, and
compensation trade in agreement; counter
trade & transit trade. (able to engage in items that need
permit according to the regulation, after obtaining the permit from relative
authorities)
SC is
mainly engaged in importing and exporting presents, handicrafts, ornaments,
hardware, mechanical and electrical products, garments, shoes and raw
materials.
Mr. Ke
Zhenming has been legal representative and chairman of SC since 2001.
SC is known to have approx. 47 staff members at
present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Fuzhou. Our
checks reveal that SC rents the total premise about 150 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 the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Huang Jianhui 2.30
Huang Sihui 0.20
Vfull Group (Fujian) Investment
Development Co., Ltd. 10.00
Wang Hong 5.00
Zhang Datian 30.00
Zhang Hongjian 0.50
Chen Jicheng 1.00
Fujian Sanmu Group Co.,
Ltd. 51.00
=======================
Fujian Sanmu Group Co., Ltd. was established in December,
1992. And it listed in Shenzhen Stock Exchange in November, 1996.
l
Legal representative and chairman:
Mr. Ke Zhenming, with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2001 to present Working in SC as chairman and legal representative.
l
General manager:
Mr. Zhang Datian, with university education. He is currently
responsible for the daily management of SC.
Working Experience(s):
From 2001 to present Working in SC as general manager.
SC is
mainly engaged in importing and exporting presents, handicrafts, ornaments,
hardware, mechanical and electrical products, garments, shoes and raw
materials.
SC sources its merchandises 40% from the overseas market and
60% from domestic market. SC sells 40% of its merchandises in domestic market,
and 60% to overseas market, mainly in Europe, America and Southeast Asia.
The buying terms of SC include Check, L/C, T/T and Credit of
15-30 days. The payment terms of SC include Check, T/T, and Credit of 15-30
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 declined to
release its banking details.
SC’s financial reports are not available in the local Administration for
Industry and Commerce.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with fairly good background.
Credit in the range of small 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. |
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%)