MIRA
INFORM REPORT
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Report Date : |
01.12.2011 |
IDENTIFICATION DETAILS
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Name : |
DALIAN FTZ CNOOCHEM INTERNATIONAL Co., Ltd. |
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Registered Office : |
Room 402, Building 3, Fuliting, No. 110 Jianshan Street, Shahekou
District, Dalian, Liaoning Province, 116023 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
06.04.2007 |
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Com. Reg. No.: |
210242000010569 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Chemicals |
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No. of Employees : |
3 |
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 2,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
DALIAN FTZ CNOOCHEM INTERNATIONAL Co., Ltd.
ROOM 402, BUILDING
3, FULITING, NO. 110 JIANSHAN STREET, shahekou district, dalian, liaoning
PROVINCE, 116023 PR CHINA
TEL: 86 (0)
411-84642551/39903488 FAX: 86 (0)
411-84602611/39514567
EXECUTIVE SUMMARY
INCORPORATION DATE : apr. 6, 2007
REGISTRATION NO. : 210242000010569
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
3
REGISTERED CAPITAL : CNY 1,010,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 7,679,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 407,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 2,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.37 = 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: the given address “No. 14 Baishan Road, Shahekou
District, Dalian” was the former operating address of SC.
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 Apr. 6, 2007.
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, transit trade, commodity exhibition
and consulting services.
SC is mainly
engaged in selling chemicals.
Mr. Jiang Bo is the legal representative, chairman and
general manager of SC at present.
SC is known
to have approx. 3 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Dalian. Our checks reveal that SC
rents the total premise, but SC’s employee refused to release the gross area of
the premise.
SC is not known to host website of its own at present.
E-mail: jiangbo@cnccd.com
Changes
of its registered information:
|
Date of change |
Item |
Before the
change |
After the change |
|
Unknown |
Registration No. |
2102422102602 |
Present one |
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|
Registered capital |
CNY 500,000 |
Present amount |
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Shareholders |
Jiang Bo 70%; Pang Jian 10%; Yin Baokun 20% |
Present ones |
MAIN SHAREHOLDERS:
Name % of Shareholding
Jiang Bo ID# 210211196209185816 50.5
Fu Bo ID# 220302196009180421 29.7
Yin Baokun ID# 210211196208061918 9.9
Pang Jian ID# 210211197809301416 9.9
l
Legal representative, Chairman & General
Manager:
Mr. Jiang Bo, ID# 210211196209185816, born in 1962, 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 is mainly
engaged in selling chemicals.
SC’s products
mainly include tert-butyl phenol, dinoseb, trifluoromethanesulfonate fluoride,
triflate, etc.
SC sources its materials 100% from domestic
market. SC sells 10% of its products in domestic market, and 90% to overseas
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.
Note:
SC’s management declined to release its major clients and suppliers.
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 China Dalian Commodity Exchange Sub-branch
AC# N/A
Foreign currency
account:
Wells Fargo Bank
Shanghai Branch
AC# N/A
Relationship:
Normal
Balance Sheet
Unit: CNY’000
|
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as
of Dec. 31, 2009 |
as
of Dec. 31, 2010 |
|
Cash & bank |
330 |
/ |
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Inventory |
180 |
/ |
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Accounts receivable |
640 |
/ |
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Advances to
suppliers |
0 |
/ |
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Other
receivables |
40 |
/ |
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Other current
assets |
300 |
/ |
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------------------ |
------------------ |
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Current assets |
1,490 |
/ |
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Fixed assets net
value |
150 |
/ |
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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 |
1,640 |
940 |
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============= |
============= |
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Short loans |
0 |
/ |
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Accounts payable |
350 |
/ |
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Other payable |
870 |
/ |
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Taxes payable |
-20 |
/ |
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Other current
liabilities |
0 |
/ |
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------------------ |
------------------ |
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Current
liabilities |
1,200 |
/ |
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Long term
liabilities |
0 |
/ |
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------------------ |
------------------ |
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Total
liabilities |
1,200 |
533 |
|
Equities |
440 |
407 |
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------------------ |
------------------ |
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Total
liabilities & equities |
1,640 |
940 |
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============= |
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
|
Turnover |
9,010 |
7,679 |
|
Cost of goods
sold |
8,060 |
/ |
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Add: Income from
other operations |
90 |
/ |
|
Sales expense |
610 |
/ |
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Management expense |
420 |
/ |
|
Finance expense |
40 |
/ |
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Profit before
tax |
-30 |
3 |
|
Less: profit tax |
0 |
1 |
|
Profits |
-30 |
2 |
Note: we did not find SC’s detailed
financial reports for Yr2010.
Important Ratios
=============
|
|
as
of Dec. 31, 2009 |
as
of Dec. 31, 2010 |
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*Current ratio |
1.24 |
/ |
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*Quick ratio |
1.09 |
/ |
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*Liabilities
to assets |
0.73 |
0.57 |
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*Net profit
margin (%) |
-0.33 |
0.03 |
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*Return on
total assets (%) |
-1.83 |
0.21 |
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*Inventory
/Turnover ×365 |
7 days |
/ |
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*Accounts
receivable/Turnover ×365 |
26 days |
/ |
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*Turnover/Total
assets |
5.49 |
8.17 |
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* Cost of
goods sold/Turnover |
0.89 |
/ |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line, but
it decreased in 2010.
l
SC’s net profit margin is fair in 2009 and average
in 2010.
l
SC’s return on total assets is fair in 2009 and
average in 2010.
l
SC’s cost of goods sold is average in 2009,
comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in 2009.
l
SC’s quick ratio is maintained in a normal level in
2009.
l
The inventory of SC appears average in 2009.
l
The accounts receivable of SC appears average in
2009.
l
SC has no short-term loan in 2009.
l
SC’s turnover is in a fairly good level in both
years, comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
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 2,000 appears to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.16 |
|
|
1 |
Rs.81.29 |
|
Euro |
1 |
Rs.69.47 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.