MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
Shandong Eagrow Chemtech Co., Ltd. |
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Registered Office : |
Room 217, Building 2 of Pioneering Park For Overseas Chinese Scholars, No. 19 Of Huaneng Rd, Ji’nan,
Shandong Province, 250100 Pr |
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Country : |
China |
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Date of Incorporation : |
10.01.2008 |
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Com. Reg. No.: |
370127200001022 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Pesticide and Fertilizer. |
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 Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
Shandong Eagrow Chemtech Co., Ltd.
Room 217, Building
2 of Pioneering Park
for Overseas
Chinese Scholars,
No. 19 of Huaneng
Rd, Ji’nan, shandong PROVINCE, 250100 PR CHINA
TEL: 86 (0)
531-88118200 FAX: 86 (0)
531-88911100
EXECUTIVE SUMMARY
INCORPORATION DATE : january 10, 2008
REGISTRATION NO. : 370127200001022
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
5
REGISTERED CAPITAL : CNY 3,000,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : COD TO SMALL AMOUNT
MARKET CONDITION : fair
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.88 = 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 limited liabilities company at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Jan. 10, 2008.
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 processing and selling pesticide, pesticide intermediates,
medicine, medicine intermediates, and other new products in the field of
chemical.
SC is mainly
engaged in selling pesticide and fertilizer.
Mr. Yin Xingbin
has been legal representative and chairman of SC since 2008.
SC is known
to have approx. 5 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the industrial zone of Ji’nan. Our checks reveal that SC
rents the total premise about 100 square meters.
http://www.eagrow.com/ The design is professional and the content
is well organized. At present it is in both Chinese and English versions.
Email: export@eagrow.com eagrow@eagrow.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
Established in 2008, SC's shareholder detail is not available in the
local Administration for Industry and Commerce at present.
l
Legal representative and chairman:
Mr. Yin Xingbin, in his 40’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 legal representative.
SC started its
normal operation in May 2008.
SC is mainly
engaged in selling pesticide and fertilizer.
SC’s products mainly include herbicide, fungicide, and plant regulars.
SC sources its materials 100% from domestic market.
SC sells 100% of its products in domestic market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, 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.
SC’s management
declined to release its bank detail.
SC was established in 2008, and its annual financial reports are not
available at present.
SC was established at the beginning of 2008, and its credit has not been
established yet. Credit dealings with SC are recommended under secured terms at
present.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.74 |
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UK Pound |
1 |
Rs.85.19 |
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Euro |
1 |
Rs.66.12 |
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%)