MIRA
INFORM REPORT
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Report Date : |
17.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHAOXING CANYA
TEXTILES AND GARMENTS CO., LTD. |
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Registered Office : |
Room 808 Lingsheng Building, No. 511
Yan’an East Road, Shaoxing, Zhejiang
Province, 312000 Pr |
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Country : |
China |
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Date of Incorporation : |
19.03.2007 |
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Com. Reg. No.: |
3306002119552 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
International Trader |
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 : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
SHAOXING CANYA
TEXTILES AND GARMENTS CO., LTD.
ROOM 808 LINGSHENG BUILDING, NO. 511 YAN’AN
EAST ROAD,
SHAOXING, ZHEJIANG PROVINCE, 312000 PR CHINA
511
808
TEL: 86 (0) 575-88642380 FAX: 86 (0) 575-88650130
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 19, 2007
REGISTRATION NO. : 3306002119552
REGISTERED LEGAL FORM : One-person Limited
Liability Company
STAFF STRENGTH :
9
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
INTERNATIONAL TRADE
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : COD to small amount
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : failry steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.00= USD 1
Adopted
abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Ren Min Bi
SC was registered as a One-person Limited Liability Company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Mar. 19, 2007.
Company Status: One-person
Limited Liability Company
Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital of
Single person LLC is CNY100,000. The shareholder’s capital contributes, as
set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and shall
be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes wholesaling and retailing
textile materials and products, textiles, garments and materials, chemical
materials and products, packaging materials and building materials; importing
and exporting various goods.
SC is mainly
engaged in international trade.
Ms. Guo Ling has been chairman of SC since 2007.
SC is known
to have approx. 9 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shaoxing. Our checks reveal that SC
rents the total premise about 70 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 local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Guo Ling 100
ID# 330681197911031721
l
Chairman and General Manager:
Ms. Guo Ling , 29 years old with university education. She is currently
responsible for the overall management of SC.
Working Experience(s):
From 2007 to present Working
in SC as chairman and general manager.
SC is mainly
engaged in international trade.
SC’s products
mainly include: garments.
Ms. Guo Ling
released that SC had little business in 2007.
SC sources its
materials 100% from domestic market. SC sells 100% of its products to the
overseas market, mainly Korea, American and European countries.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include 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 refused to release any information of its
domestic 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.
SC refused to
release its bank information.
Incorporated in Mar. 2007, SC’s financial reports are not available at
present.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a short history. Credit
dealings with SC are recommended under secured terms 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%)