MIRA
INFORM REPORT
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Report Date : |
10.09.2007 |
IDENTIFICATION DETAILS
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Name : |
LANE CRAWFORD DEPARTMENT STORE ( |
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Registered Office : |
Room 320-323 3/F Capital Times Square, Xicheng District, |
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Country : |
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Date of Incorporation : |
May 16, 2007 |
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Com. Reg. No.: |
110000450009889 |
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Legal Form : |
Wholly Foreign -Owned |
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Line of Business : |
Engaged in operating retailing stores. |
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 : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
LANE CRAWFORD DEPARTMENT STORE (
ROOM 320-323 3/F CAPITAL
TEL: 86 (0) 10-83913081
FAX: 86 (0) 10-83913081
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 16, 2007
REGISTRATION NO. : 110000450009889
REGISTERED LEGAL FORM : WHOLLY FOREIGN -OWNED
STAFF STRENGTH :
400
REGISTERED CAPITAL : USD5,000,000
BUSINESS LINE :
RETAILING
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
N/A
RECOMM.
MARKET CONDITION : competitive
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : fairly good
EXCHANGE RATE :
CNY 7.54= US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: The given telephone number 00852-26362688 belongs to SC’s
parent company: Lane Crawford (
SC was registered as a wholly foreign-owned enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on May 16, 2007.
Company Status: Wholly foreign-owned enterprise
This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered business scope includes selling garments, shoes, hats,
accessories, leatherwear, leather products, sport products, presents,
decorations, furniture, perfume, cosmetics, skin care products, bijouterie,
gold, silver, and diamond decorations, clocks, glasses and watches.
SC will be mainly
engaged in operating retailing stores.
Mr. Xu Yaoxiang has
been chairman of SC since May 2007.
SC is known
to have approx. 400 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 Beijing. Our checks reveal that SC rents the
total premise about 400 square meters. SC’s will open a new store in Green
Fish,
http://www.lanecrawford.com
It is the website of SC’s parent company. The design is professional and the
content is well organized. At present it is in English version.
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Lane Crawford (
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Lane Crawford is
Founded in 1850, Lane Crawford has stores
strategically placed in the heart of Hong Kong's prime real estate areas: ifc mall
in central; pacific place in Admiralty; times square in Causeway Bay; and
canton Road in Tsim Sha Tsui.
Lane Crawford specializes in women wear,
lingerie, men ware, home and lifestyle, shoes and accessories, fine jeweler and
cosmetics.
25th Floor, Tower One, Times Square
Tel: 852-21182888
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Chairman:
Mr. Xu Yaoxiang, in his
Working Experience(s):
From 2007 to present Working
in SC as chairman.
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General Manager:
Ms. Lisa Li, in her
Working Experience(s):
From 2007 to present Working in SC as general manager.
SC will be mainly
engaged in operating retailing stores.
SC’s new store will be opened at Green Fish,
It is released by SC’s financial manager
that the new store would be opened on Oct. 12, 2007. There will be more than
600 famous brands in the store, including Prada, Givenchy, Burberry, Miu Miu,
etc.
SC is
not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good ( ) Average (
) Fair ( ) Poor
(X) 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 refused to release any information of its
suppliers and the trade reference was not available.
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.
HSBC Bank
AC#：626081244001
Relationship:
Incorporated as a new company in May 2007, SC’s financial reports are not
available at present.
SC was established recently in a medium size, and its credit has not
been established yet. Taking into consideration of its favorable background,
reputation, as well as market conditions, we would rate SC as an average credit
risk company.
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%)