MIRA
INFORM REPORT
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Report Date : |
28.09.2007 |
IDENTIFICATION DETAILS
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Name : |
shanghai haitai
steel international trading co., ltd. |
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Registered Office : |
Room 1519 |
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Country : |
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Date of Incorporation : |
October 17, 2006 |
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Com. Reg. No.: |
3101132036590 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in international trade. |
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
shanghai haitai
steel international trading co., ltd.
room 1519
TEL :
86 (0) 21-63936367
FAX :
86 (0) 21-63936383
EXECUTIVE SUMMARY
INCORPORATION DATE : october 17, 2006
REGISTRATION NO. : 3101132036590
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
20
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
trading
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY7.51 = US$1
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. 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 goods and technology, processing and
selling metal materials, selling metallurgy materials, mineral products,
industrial auxiliary materials, electromechanical equipment, telecommunication
equipment, automotive parts, textiles, paper products, glass products, office
stationery, general merchandise, and handicrafts, providing related
consultation service.
SC is mainly
engaged in international trade.
Mr. Ding Jinsong
has been chairman of SC since 2006.
SC is known to
have approx. 20 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 Shanghai. Our checks reveal that SC
rents the total premise about 200 square meters.
SC is not known to host web site of its own at present.
No significant events or changes were found during our checks with the
local Administration for Industry & Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shanghai Haitai Steel Tube (Group) Co., Ltd. 90
Shanghai Haitai Steel Tube (Group) Co.,
Ltd.:
=================================
Shanghai Haitai Steel Tube (Group) Co., Ltd.
is a professional steel tube dealer. SC mainly provides structure tubes, fluid
transportation tubes, low pressure and high pressure boiler tubes, and metal
alloy steel pipes. In 2005, the total distribution quantity already reached
260,000 metric tons.
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Chairman and
General Manager:
Mr. Ding Jinsong, about 45 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 international trade.
SC’s products
mainly include: structure tubes, fluid transportation tubes, low pressure and
high pressure boiler tubes, and metal alloy steel pipes.
SC sources its materials 100% from domestic
market, mainly
The buying terms of SC include T/T and Credit of 30-60 days. The payment
terms of SC include T/T, L/C and Credit of 30-60 days.
*Major Supplier:
==============
Shanghai Haitai Steel Tube (Group) Co., Ltd.
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 was established in October of 2006, so its financial reports are not
available at present.
SC is considered small-sized in its line with a short history. Taking
into consideration of SC’s background and operation size, credit dealings with
SC in small amount can be considered at present.
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%)