MIRA
INFORM REPORT
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Report Date : |
21.12.2011 |
IDENTIFICATION DETAILS
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Name : |
TIANJIN SASOL CHEMICALS CO., LTD. |
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Registered Office : |
Room 1501a, (Changqing Building), No. 75 Chongqing Street, Changqing
Kegongmao Park, Jinnan District, Tianjin, 300350 Pr |
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Country : |
China |
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Date of Incorporation : |
10.04.2011 |
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Com. Reg. No.: |
120112000115602 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Selling chemical raw materials and products. |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRAs Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
TIANJIN SASOL CHEMICALS CO., LTD.
ROOM
TEL: 86 (0)
22-58016885 FAX: 86 (0)
22-58016885/4000880821
EXECUTIVE SUMMARY
INCORPORATION DATE : APR.
10, 2011
REGISTRATION NO. :
120112000115602
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH :
3
REGISTERED CAPITAL : CNY 300,000
BUSINESS LINE : TRADING
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : C.O.D.
MARKET CONDITION : fair
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.34 =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 company China Sasol Group Co., Ltd. is registered
in Hong Kong which is a related company of SC. SC is registered and operating
at the given address.
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 Apr. 10,
2011.
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 shareholders 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.
SCs registered business scope includes wholesaling and retailing
chemical raw materials (except dangerous goods); import and export of goods and
technology. (with permit if needed)
SC is mainly
engaged in selling chemical raw materials and products.
Mr.
Wang Xiuhe has been the legal
representative and chairman of SC since April of 2011.
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 Tianjin. Our checks reveal that SC
rents the total premise, but the gross area is unspecified.
http://www.sasol-chem.com/
The design is professional and the content is well organized. At present it is
in English version.
Email: admin@sasol-chem.com
SC started its normal business in July of 2011.
No significant changes were found during our checks with local AIC.
MAIN SHAREHOLDERS:
Name % of Shareholding
Wang Xiuhe 100
l
Legal representative and Chairman:
Mr. Wang Xiuhe is currently
responsible for the overall management of SC.
Working Experience(s):
From April of 2011 to present Working in SC as
legal representative and chairman
SC is mainly engaged
in selling chemical raw materials and products.
SC started its normal business in July of 2011.
SCs business mainly includes formic acid, SLES, soda ash, LABSA, STPP,
A4 paper, etc.
SC sources its
materials and products 100% from domestic market. SC sells 100% of its products
to overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C, Check and Credit of 30-60 days.
Note:
SCs management declined to release its major suppliers and clients.
China
Sasol Group Co., Ltd. (Hong Kong)
==============================
CR
No.: 1618667
Incorporation
No.: June 20, 2011
Legal
form: Private
Status:
Live
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.
The bank
information is not found in local AIC.
Established in April of 2011, SCs annual financial reports are not available
at present.
Established in April of 2011 and started its normal business in July of
2011, SCs credit has not been established yet. 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.53.03 |
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|
1 |
Rs.82.34 |
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Euro |
1 |
Rs.68.99 |
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 |
-- |
This score serves as a reference to assess SCs 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.