MIRA INFORM REPORT
|
Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
QINGDAO EVER TRUST TRADING CO LTD |
|
|
|
|
Registered Office : |
Room 1515 Shandong International Trade Mansion, No. 51 Taiping Road, Qingdao,
Shandong Province, 266071 |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
11.04.2008 |
|
|
|
|
Com. Reg. No.: |
370202230007809 |
|
|
|
|
Legal Form : |
One-Person Limited Liability Company |
|
|
|
|
Line of Business : |
International
Trade. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Name & address
QINGDAO EVER TRUST TRADING CO., LTD.
ROOM 1515 SHANDONG INTERNATIONAL TRADE MANSION, NO. 51 TAIPING ROAD,
QINGDAO, SHANDONG PROVINCE, 266071 PR CHINA
51 1515
TEL: 86
(0) 532-82972177 FAX: 86 (0)
532-82972069
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 11, 2008
REGISTRATION NO. : 370202230007809
REGISTERED LEGAL FORM : One-person Limited
Liability Company
STAFF STRENGTH :
2
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE : INTERNATIONAL TRADE
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : C.O.D.
MARKET CONDITION : FAIR
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.85= 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 Apr. 11, 2008.
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 fiber products,
machinery and parts, hardware, timber, office automation equipment and
materials, computers and related equipment, instruments, furniture, household
appliances, garments, shoes and hats, textile products and crafts; importing
and exporting various goods and technology; economic information consulting.
SC is mainly
engaged in international trade.
Mr. Wang Demeng
has been chairman of SC since 2008.
SC is known
to have approx. 2 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Qingdao. Our checks reveal that SC
rents the total premise about 22 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
Wang Demeng 100
l
Chairman and General Manager:
Mr. Wang Demeng, in his 30’s with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2008 to present Working
in SC as chairman and general manager.
SC is mainly
engaged in international trade.
SC’s products
mainly include: fiber materials.
SC has just been
taken into normal operation, and it has little business at present.
SC sources its
materials 100% from the overseas market, mainly European countries. SC sells
100% of its products in domestic market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include T/T 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.
Huaxia Bank Fuzhou South Road Sub-branch
AC# N/A
Relationship:
Normal.
Incorporated as a new company in Apr. 2008, SC’s financial reports are
not available at present.
SC was established recently in small size, and its credit has not been
established yet. Credit should be extended under guarantee, and COD is
recommended.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.00 |
|
UK Pound |
1 |
Rs.82.14 |
|
Euro |
1 |
Rs.65.09 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)