MIRA INFORM REPORT
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Report Date : |
19.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ALT LABORATORY LIMITED |
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Registered Office : |
Rm 716 & 719, No. 8-9, Max-Mall Plaza, Lane 1500, Lianhua South Road, Shanghai, 201108 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
31.10.2003 |
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Com. Reg. No.: |
310115000799572 |
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Legal Form : |
One-Person Limited
Liability Company |
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Line of Business : |
Selling Pharmaceutical Chemicals and Active
Pharmaceutical Ingredients |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 5,000 |
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Status : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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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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China |
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
ALT LABORATORY
LIMITED
rm 716 & 719, no. 8-9, max-mall plaza,
lane 1500, lianhua south road, shanghai,
201108 PR CHINA
TEL: 86 (0) 21-33581117 FAX: 86 (0) 21-33581128
EXECUTIVE
SUMMARY
INCORPORATION
DATE : OCT. 31, 2003
REGISTRATION NO. : 310115000799572
REGISTERED LEGAL
FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH : 11
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE : TRADING
TURNOVER : CNY 20,570,000 (UNaudited, AS
OF DEC. 31, 2010)
EQUITIES : CNY 970,000
(UNaudited, AS OF DEC. 31, 2010)
PAYMENT
: AVERAGE
RECOMM.
CREDIT RANGE : UP TO USD 5,000 (PERIODICAL REVIEW)
MARKET
CONDITION : average
FINANCIAL
CONDITION : fairly stable
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : CNY 6.53 = 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
Note: SC also uses
Shanghai Fine Chemicals Co., Ltd. as its trading name.
SC was registered as
a One-person Limited Liability Company at local Administration for industry
& commerce (AIC - the official body of issuing and renewing business
license) on Oct. 31, 2003.
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
transit trade and trade agency among enterprises in the Free Trade Zone;
business consulting services and simple commercial processing in the Zone;
import and export goods and technology (in accordance with license).
SC is mainly engaged in selling
pharmaceutical chemicals and active pharmaceutical ingredients.
Mr. Li Zhaohua is chairman and general
manager of SC at present.
SC is known to have approx. 11
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.sfcc-chem.com/
The design is professional and the content is well organized. At present it is
only in English version.
Email: sfcc@sfcc-chem.com sfcc2000@mail.online.sh.cn
No significant
events or changes were found during our checks with the local Administration
for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Li Zhaohua 100
l
Chairman
& General Manager:
Mr. Li Zhaohua, born
in 1969 with university education. He is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as chairman and general manager.
SC is mainly engaged in selling
pharmaceutical chemicals and active pharmaceutical ingredients.
SC’s products mainly include API, food
ingredients, feed additives, intermediates, amino acids, plant extracts, etc.
SC sources its materials 100% from domestic market. SC sells 10% of its
products in domestic market, and 90% to overseas market, mainly Korea and
Germany.
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
customer and supplier details.
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.
Bank of Shanghai
Chaling Sub-branch
AC# 31684500005290046
Relationship: Normal
Balance Sheet (as
of Dec. 31, 2010)
Unit: CNY’000
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Cash & bank |
1,330 |
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Inventory |
1,980 |
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Accounts receivable |
1,410 |
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Advances to suppliers |
0 |
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Other receivables |
780 |
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Other current assets |
0 |
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------------------ |
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Current assets |
5,500 |
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Fixed assets net value |
280 |
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Projects under construction |
0 |
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Long term investment |
0 |
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Other assets |
0 |
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------------------ |
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Total assets |
5,780 |
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============= |
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Short loans |
0 |
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Accounts payable |
270 |
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Other payable |
2,940 |
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Taxes payable |
0 |
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Advances from clients |
1,600 |
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Other current liabilities |
0 |
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Current liabilities |
4,810 |
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Long term liabilities |
0 |
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Total liabilities |
4,810 |
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Equities |
970 |
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------------------ |
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Total liabilities & equities |
5,780 |
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============= |
Income Statement (as
of Dec. 31, 2010)
Unit: CNY’000
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Turnover |
20,570 |
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Cost of goods sold |
18,720 |
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Sales expense |
500 |
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Management expense |
960 |
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Finance expense |
190 |
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Profit before tax |
200 |
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Less: profit tax |
0 |
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Profits |
200 |
Note: The above financial records have not
been audited.
Important Ratios
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as of Dec. 31, 2010 |
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*Current ratio |
1.14 |
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*Quick ratio |
0.73 |
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*Liabilities to assets |
0.83 |
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*Net profit margin (%) |
0.97 |
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*Return on total assets (%) |
3.46 |
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*Inventory /Turnover ×365 |
36 days |
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*Accounts receivable/Turnover ×365 |
26 days |
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*Turnover/Total assets |
3.56 |
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* Cost of goods sold/Turnover |
0.91 |
PROFITABILITY: AVERAGE
l
The
turnover of SC appears average in its line.
l
SC’s net
profit margin is average.
l
SC’s
return on total assets is average.
l
SC’s
cost of goods sold is fairly high, comparing with its turnover.
LIQUIDITY: AVERAGE
l
The
current ratio of SC is maintained in a normal level.
l
SC’s
quick ratio is maintained in a fair level.
l
The
inventory of SC appears average in 2010.
l
The
accounts receivable of SC appears average in 2010.
l
SC has
no short-term loan in 2010.
l
SC’s
turnover is in a fairly good level, comparing with the size of its total
assets.
LEVERAGE: FAIR
l
The debt
ratio of SC is fairly high.
l
The risk
for SC to go bankrupt is average.
Overall financial condition of the SC: Fairly stable.
SC is considered
small-sized in its line with fairly stable financial conditions. A credit line
up to USD 5,000 appears to be within SC’s capacities 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.44.27 |
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UK Pound |
1 |
Rs.7208 |
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Euro |
1 |
Rs.63.66 |
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.