MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
inlife shop corporation |
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Registered Office : |
Room 500A, 5/F, No. 1, Guangfu Road Shanghai 200070 Pr |
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Country : |
China |
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Date of Incorporation : |
30.09. 2007 |
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Com. Reg. No.: |
310110000443647 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
Selling Household Articles. |
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 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
inlife shop corporation
room 500a, 5/f, no.
1, guangfu road
shanghai 200070 PR CHINA
TEL: 86 (0)
21-62270376 FAX: 86 (0) 21-63809527
EXECUTIVE SUMMARY
INCORPORATION DATE : sep. 30, 2007
REGISTRATION NO. : 310110000443647
REGISTERED LEGAL FORM : one-person Limited
liabilities company
STAFF STRENGTH :
38
REGISTERED CAPITAL : CNY 2,800,000
BUSINESS LINE :
trading
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : up to usd 10,000 (periodical review)
MARKET CONDITION : average
FINANCIAL CONDITION : undetermined
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.86 = 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 Renminbi
SC was
registered as a one-person limited liabilities company at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Sep. 30, 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 importing and exporting commodities & technology.
SC is mainly
engaged in selling household articles.
Mr. Deng Xuezhong
has been chairman of SC since 2007.
SC is known to
have approx. 38 employees 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 100 square meters.
http://www.inlifeshop.com
The design is professional and the content is well organized. At present the
web is only in Chinese version.
Changes
of its registered information are as follows:
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Date
of change |
Item |
Before the
change |
After the change |
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2007 |
Registered capital |
CNY 200,000 |
CNY 1,000,000 |
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2008 |
Registered capital |
CNY 1,000,000 |
CNY 2,800,000 |
According to SC’s accountant, SC stated its normal business in Jan. of
2008.
MAIN SHAREHOLDERS:
Name
% of Shareholding
Dong Disheng 100
l
Chairman and General Manager:
Mr. Deng Xuezhong, 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 selling household articles.
SC started its
normal business in Jan. of 2008.
SC’s products
mainly include: various household articles.
SC sources its materials 90% from domestic
market, mainly Zhejiang and Guangdong, and 10% from overseas market, mainly
Thailand. SC sells 100% of its products in domestic market, mainly Shanghai,
Jiangsu, and Zhejiang.
The buying terms of SC include Check, T/T, L/C, and Credit of 30-60
days. The payment terms of SC include Check, L/C, T/T and Credit of 30-60 days.
*Major Customers:
==============
Changzhou Spring Store
Shaoxing Qingyuan Longshan Store
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.
Industrial and
Commercial Bank of China
AC#：1001210039278166108
Relationship:
Normal.
SC started its normal business in Jan. of 2008, so the financial records
are not available.
SC started its normal business in 2008, and its credit has not been
established yet. A credit line at the above amount appears to be beyond SC’s
capacities, while a credit line up to USD 10,000 is recommended upon a
periodical review basis.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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%)