MIRA
INFORM REPORT
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Report Date : |
11.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
GUILIN UNION
CO., LTD. |
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Registered Office : |
2/F # 48 Luandong Subdistrict, No. 10 Kongming West Road, Qixing
District, Guilin, Guangxi Province, 541004 |
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Country : |
China |
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Date of Incorporation : |
30.01.2007 |
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Com. Reg. No.: |
4503051105868 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
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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Maximum Credit Limit : |
USD 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name and address
GUILIN UNION CO.,
LTD.
2/F #48 LUANDONG SUBDISTRICT, NO. 10 KONGMING
WEST ROAD, QIXING DISTRICT, GUILIN, GUANGXI PROVINCE, 541004 PR CHINA
TEL: 86 (0)
773-5850162
FAX: 86 (0) 773-5850161
EXECUTIVE SUMMARY
INCORPORATION DATE : jAN. 30, 2007
REGISTRATION NO. : 4503051105868
REGISTERED LEGAL FORM : LIMITED LIABILITIES
COMPANY
STAFF STRENGTH :
11
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE :
INTERNATIONAL TRADE
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
Average
RECOMM. CREDIT RANGE : up to USD 5,000 (periodical review)
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fAirly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.26= USD1
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
Note: SC’s English name should be the above stated one, instead of the
given one.
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 Jan. 30, 2007.
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 planning and investing journey
items; importing and exporting various goods; selling as an agent of selling
products; and information consulting services.
SC is mainly
engaged in international trade.
Mr. Li Lin (李林)
has been chairman of SC since 2007.
SC is known
to have approx. 11 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 Guilin. Our checks reveal that SC
rents the total premise about 100 square meters.
http://www.glunion.com.cn
The design is professional and the content is well organized. At present it is
in both English and Chinese versions.
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Li Lin 50
Wang Kuang 50
l
Chairman and General Manager:
Mr. Li Lin (李林) in his 30’s with university education. He
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 looks for high quality and competitive products abroad to open a
channel into Chinese market for foreign manufacturers and suppliers.
SC specializes in importing products, mainly
Indian, Europe, UK, North America, Australia, Korea, Japan, etc.
SC’s products mainly include: wines, foods & drinks, cosmetics,
garments, electronic products, etc.
SC is also engaged in providing tourism service
for Guilin Commerce Youxian Club.
The main services include:
*Commerce conference service (booking
hotels, dining-hall and council-chamber for clients)
*Tourism information consulting service
*Commerce tourism reception
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 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 any information about its bank.
Incorporated in January 2007, SC’s financial reports are not available
at present.
SC is considered small-sized in its line with a short history. Credit
dealings with SC should be confined into small amount 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%)