MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAIZHOU NEW
SHUANGDENG BOARD CO., LTD. |
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Registered Office : |
Xiayun Village, Hengjie Town, Luqiao
District, Taizhou, Zhejiang Province, 318056 Pr |
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Country : |
China |
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Date of Incorporation : |
22.05. 2008 |
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Com. Reg. No.: |
331004000018852 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Producing and Selling Decorated Boards. |
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
TAIZHOU NEW
SHUANGDENG BOARD CO., LTD.
XIAYUN VILLAGE, HENGJIE TOWN, LUQIAO DISTRICT,
TAIZHOU,
ZHEJIANG PROVINCE, 318056 PR CHINA
TEL: 0086-576-82788880-8018 FAX:
0086-576-82788883
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 22, 2008
REGISTRATION NO. :
331004000018852
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. SHI FUBIAO (CHAIRMAN)
STAFF STRENGTH :
32
REGISTERED CAPITAL : CNY 5,180,000
BUSINESS LINE : MANUFACTURING
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
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 6.83833 = 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 co. at local Administration for Industry
& Commerce (AIC - The official body of issuing and renewing business license)
on May 22, 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 manufacturing and selling
decorated boards (excluding dangerous chemicals), plastic boards and plastic products;
selling plastic materials; importing and exporting commodities and
technologies, excluding export commodities limited or
prohibited by the state (with permit if needed).
SC is mainly
engaged in producing and selling decorated boards.
Mr. Shi Fubiao has
been legal representative and chairman of SC since May 22, 2008.
SC is known to have approx. 32 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Taizhou. Our checks
reveal that SC rents the total premise about 1,000 square meters.
SC is not known to host website of its own at present.
SC started its production in late August this year.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shi Fubiao 51
Wu Mifu 49
l
Legal representative and chairman:
Mr. Shi Fubiao, about 43 years old with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From May 22, 2008 to present Working
in SC as chairman and legal representative.
SC is mainly
engaged in producing and selling decorated boards.
SC’s products mainly include: PVC foam board, wood surface board and
free expansion sheet.
SC sources its materials 100% from domestic market. SC sells 70% of its
products to overseas market, mainly in
India, Middle East and Ukraine, and 30% 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, L/C, and Credit of 30-60 days.
*Major Suppliers*
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Zhangjiagang Free Trade Zone Tiantai International Trade Co., Ltd.
*Major Customers*
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JUTU Technologies Ltd.
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’s suppliers
declined to make any comments.
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.
Bank of China Taizhou Luqiao Sub-branch
AC#840036959308091001
Relationship:
Normal.
Incorporated recently in 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.12 |
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UK Pound |
1 |
Rs.79.60 |
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Euro |
1 |
Rs.63.83 |
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%)