MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
villa mode international ltd. |
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Registered Office : |
Room 2701 |
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Country : |
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Date of Incorporation : |
08.10., 2000 |
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Com. Reg. No.: |
07983 |
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Legal Form : |
Representative Office |
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Line of Business : |
Providing Business Liaison Service for its Parent Company. |
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 : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
villa mode international ltd. shanghai Representative office
room 2701 shartex
plaza, NO.88 zunyi south road,
shanghai, 200336 PR
CHINA
TEL: 86 (0)
21-62701110 FAX: 86 (0)
21-62755339
EXECUTIVE SUMMARY
INCORPORATION DATE : october 8, 2000
REGISTRATION NO. : 07983
REGISTERED LEGAL FORM : Representative office
STAFF STRENGTH :
8
REGISTERED CAPITAL : n/a
BUSINESS LINE :
BUSINESS liaison
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
not yet determined
RECOMM. CREDIT RANGE : SMALL AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY6.83 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
SC was registered as a representative office at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on October 8, 2000.
Company Status: Representative office Foreign company, which has
entered into a contract with a PR China co., is permitted to establish a
representative office in PR China. The representative office may engage
only in “non-direct operating activities” such as liaison, consulting,
market research & general information gathering. At present,
representative office is not allowed to employ local employees in its own
name and must use PR China employment agencies.
SC’s registered
business scope includes providing business liaison service for its parent
company.
SC is mainly
engaged in providing business liaison service for its parent company.
Mr. SUNIL CHHUGANI has been chief
representative of SC since 2000.
SC is known to
have approx. 8 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.
SC is not known to host web site of its own at present.
No significant events or changes were found during our checks with the
local Administration for Industry & Commerce.
PARENT COMPANY:
Name
villa-mode international lTD. (Hong Kong)
Registration No.: 0170992
Incorporation Date: June 27, 1986
Legal Form: Private Limited Company
Address: Siu Ying Commercial Building 153
Queen's Road Central, Hong Kong
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Chief Representative:
Mr. Sunil Chhugani (Indian), about 45 years old with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2000 to present Working
in SC as chief representative.
SC is mainly
engaged in providing business liaison service for its parent company.
Villa-Mode
International Limited is a professional exporting company. The export products mainly include
commodities, chemicals, building materials products, main export markets are
India and Africa.
SC is
not known to have any subsidiary at present.
Overall payment appraisal :
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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 : None in our
database.
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 declined to
release its bank details.
As a representative office, SC is not allowed to engage in direct business.
All its expenses are supposed to be provided by its parent
company. Therefore, its financial information is not available.
SC is a representative office, which is not engaged in direct business.
Taking into consideration of SC’s development history, background and
operational size, we would rate SC as an above average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.83 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
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%)