MIRA
INFORM REPORT
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Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
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Name : |
DONGYANG HONSEN CO., LIMITED |
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Registered Office : |
Zhenxing Road (S), Geshan Town Dongyang City, Zhejiang Province 322109 Pr |
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Country : |
China |
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Date of Incorporation : |
20.10.2009 |
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Legal Form : |
-- |
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Line of Business : |
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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 : |
Not Registered in China |
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Payment Behaviour : |
Unknown |
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Litigation : |
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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
DONGYANG HONSEN CO., limited
ZHENXING ROAD (S), GESHAN TOWN
DONGYANG CITY, ZHEJIANG PROVINCE 322109 PR CHINA
TEL: 86 (0) 579-86846643
FAX: 86 (0) 579-86846643
NARRATIVE REPORT
This refers to a type of report whose format is different from that of a
standard report. Such type of report is provided when:
l
Information obtained is insufficient for compiling
a standard report.
l
The enquired co has been out of business or its business
address has been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its
credit standing.
------------------------------------------
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
CHECK ON SC’S REGISTERED
TELEPHONE LINE
˛
According to the
website www.honsentech.com.cn
of SC, we found SC’s contact way,
Tel/Fax: 86 (0)
579-86846643
When we dialed the above telephone number, a lady Ms. Zhao answered the
phone. She admitted the English name, and told us its Chinese name in
translation is “东阳鸿森科技有限公司”, which is
registered in Hong Kong, but mainly operates in Dongyang, Zhejiang Province,
PRC China, there is no one working in Hong Kong.
BUSINESS OPERATION
According to the
website www.honsentech.com.cn
of SC,
==============================================
˛
SC is mainly engaged in selling chemical materials and
pharmaceutical Intermediates.
˛
SC’s products mainly include:
1,2,3-triacetoxy-5-deoxy-D-ribose
Gemcitabine
Hydrochloride
Capecitabine
Imatinib
Vitamin C
Spironolactone
˛
E-mail: sales@honsentech.com.cn
However, we found
the other website www.honsenfish.com
of SC, the main information is as follows,
===============================================
On the 2nd
website, its English name remains the same, but the Chinese name is different,
it is in translation is
˛
SC’s other business is operating various fishing
lines.
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Main Products: the nylon fishing line, vigorously
the horse knitting fishing line, the carbon fish line, the wear-resisting sea
fishing line, and so on.
˛
E-mail: loujun33001@hotmail.com
SPOT VISIT
Zhenxing Road (S),
Geshan Town, Dongyang City, Zhejiang Province 322109 PR China
Ms. Zhao released that SC is currently working there.
REGISTRATION
According
to the Chinese names “东阳鸿森科技有限公司”
and “东阳鸿森渔具有限公司”, a research was conducted with
Dongyang municipal and Zhejiang Provincial Administration of Industry &
Commerce (the official body of issuing and renewing business license), but no
record was found.
During our check with Hong Kong Registry, we found
the following registration about SC (Please see the below “Certificate of
Incorporation”),
Company Name: Dongyang Honsen Co., Limited
Company File No.: 1383080
Date of Registration: October 20, 2009
Legal Form: Private
Status: Live
CONCLUSIONS
SC is considered small-sized in its line with 2 years operation history.
Credit dealings with SC should be confined into C.O.D. to small amount at
present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.27 |
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1 |
Rs.73.34 |
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Euro |
1 |
Rs.64.58 |
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.