MIRA
INFORM REPORT
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Report Date : |
11.08.2011 |
IDENTIFICATION DETAILS
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Name : |
FOSHAN SINO-ASIA
SHIGUO IMPORT AND EXPORT CO., LTD. |
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Registered Office : |
No. 17 Shalong Road, Xiantang Village Committee, Longjiang Town, Shunde
District, Foshan, Guangdong Province, 528318 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
09.03.2010 |
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Com. Reg. No.: |
440681000204661 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Furniture |
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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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 and address
FOSHAN SINO-ASIA
SHIGUO IMPORT AND EXPORT CO., LTD.
NO. 17 SHALONG ROAD, XIANTANG VILLAGE
COMMITTEE,
LONGJIANG TOWN, SHUNDE DISTRICT, FOSHAN,
GUANGDONG PROVINCE, 528318 PR CHINA
TEL: 86 (0) 757-23382090/29222181 FAX: 86 (0) 757-23380601
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 9, 2010
REGISTRATION NO. :
440681000204661
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 1,300,000
BUSINESS LINE : TRADING
TURNOVER :
CNY 10,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 1,270,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : C.O.D.
MARKET CONDITION :
FAIR
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.40 = 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 Liability Company at local Administration
for industry & commerce (AIC - the official body of issuing and renewing
business license) on Mar. 9, 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 selling coconut fiber, lumber, copper materials,
plastics (excluding the waste and old plastics), hardware tools, leather
products, furniture and daily appliance; domestic commerce; supplying and
selling of commodities; import and export different sorts of goods and
technology.
SC is mainly
engaged in selling furniture.
Mr. You
Qiangquan is legal representative,
chairman and general manager of SC at present.
SC is known
to have approx. 10 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in Foshan. Our checks revealed that SC rents the total premise
with about 250 square meters.
\
http://www.sino-asia.net
the design is professional and the content is well organized. At present it is
both Chinese and English versions.
E-mail: info@sino-asia.net
SC has little business in 2010.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhang Jianliang ID # 440623197108294276 50
You Qiangquan ID # 440623195808154275 50
l
Legal Representative, Chairman and General Manager:
Mr. You Qiangquan , ID# 440623195808154275, born in 1958 with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative, chairman and general manager.
SC has little business in 2010.
SC is mainly
engaged in selling furniture.
SC’s products mainly include: tea table, chair, bed/mattress, sofa, etc.
SC sources its materials 30% from domestic
market, and 70% from overseas market. SC sells 90% of its products in domestic
market, and 10% to overseas market.
The buying terms of SC include Check, T/T, L/C 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 refused to release its main customers and
suppliers.
Foshan
Rong Tiansheng Import & Export Trade Co. Ltd.
=========================================
Incorporation
Date: December 18, 2001
Registration
No.: 440681000060985
Chief
Executive : Mr. Lai Rongguang
Add:
No. 10 Baochong Industry Road, Xiantang, Longjiang Town, Shunde, Foshan City,
Guangdong
Tel:
86 (0) 757-23382090 Fax: 86 (0)
757-23380601
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.
We could not
find the bank information on SC in local AIC.
Financial Summary
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Unit: CNY’ 000 |
as of Dec. 31,
2010 |
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Total liabilities |
266 |
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Shareholders equities |
1,270 |
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Total assets |
1,536 |
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========== |
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Turnover |
10 |
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Net profit |
-30 |
Note: we did not find SC’s detailed
financial reports at local AIC for Yr2010.
Important Ratios
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as of Dec. 31,
2010 |
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*Liabilities
to assets |
0.17 |
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*Net profit
margin (%) |
-300.00 |
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*Return on
total assets (%) |
-1.95 |
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*Turnover/Total
assets |
0.01 |
PROFITABILITY:
FAIR
l
The turnover of SC appears poor.
l
SC’s net profit margin appears poor.
l
SC’s return on total assets appears fair.
l
SC’s turnover is in a poor level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair.
SC is considered small-sized in its line with fair financial conditions
and a short development history. Credit dealings with SC should be confined
into C.O.D. at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.20 |
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|
1 |
Rs.73.51 |
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Euro |
1 |
Rs.64.76 |
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 |
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-- |
NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.