MIRA INFORM REPORT
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Report Date : |
14.04.2011 |
IDENTIFICATION DETAILS
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Name : |
TIANJIN YADONG LONGXIN INTERNATIONAL LIMITED |
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Registered Office : |
18/F |
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Country : |
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Date of Incorporation : |
18.08.2010 |
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Com. Reg. No.: |
120116000001775 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International Trade |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company
name & address
TIANJIN YADONG LONGXIN INTERNATIONAL LIMITED
18/F
TEL: 86 (0) 22-28378217 FAX: 86 (0) 22-28377693
EXECUTIVE
SUMMARY
INCORPORATION
DATE :
AUG. 18, 2010
REGISTRATION NO. :
120116000001775
REGISTERED LEGAL FORM : LIMITED
LIABILITIES COMPANY
STAFF STRENGTH :
6
REGISTERED CAPITAL :
CNY 2,000,000
BUSINESS LINE :
INTERNATIONAL TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT : AVERAGE
RECOMM.
MARKET
CONDITION : FAIR
FINANCIAL
CONDITION : N/A
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE
RATE : CNY 6.54 = USD 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 limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Aug. 18, 2010.
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
international trade; importing and exporting various goods and technology;
wholesaling and retailing lubricating oil, pitch, paper products, hardware,
building materials, dyeing: Direct Black 19, amanil fast scarlet 4bs, C.I.
Direct yellow 11, Acid Orange II, dye(stuff) intermediate.
SC is mainly engaged in international trade.
Mr. Zhao Baozhong has
been legal representative and chairman of SC since 2010.
SC is known to
have approx. 6 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Tianjin. Our
checks reveal that SC rents the total premise about 100 square meters.
SC is not known to host
website of its own at present.
SC was taken into operation in Oct., 2010.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Inner Mongolia Xinya Chemical Industry Ltd. 2.5
Tianjin Yadong Investment Co., Ltd. 97.5
Inner Mongolia Xinya Chemical Industry Ltd.
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Tel: 86 0483-8692255
Tianjin Yadong Investment Co., Ltd.
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Add: 18/F
Tel: 86 (0) 22-28378217
Fax: 86 (0) 22-28377693
l
Legal
representative, chairman
and general manager:
Mr. Zhao Baozhong, in his
Working Experience(s):
From 2010 to present Working in SC as chairman, legal representative and general manager.
Also working in Tianjin Yadong
Investment Co., Ltd. as chairman and Tianjin Yadong Chemical & Dyestuff
Factory as factory manager.
SC is mainly engaged in international trade.
SC’s products mainly include basacid and
dyestuff intermediate.
SC was taken into operation in Oct., 2010.
SC sources its materials 100% from domestic market, mainly
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.
Note:
SC’s management declined to release its main clients and suppliers.
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 information.
Incorporated in
Aug., 2010, SC’s financial reports are not available at present.
SC is considered
small-sized in its line with a short operating history. Credit dealings with SC
are recommended under secured terms.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.48 |
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1 |
Rs.72.37 |
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Euro |
1 |
Rs.64.42 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.