MIRA INFORM REPORT
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Report Date : |
22.02.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.11.1999 |
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Com. Reg. No.: |
320192000000654 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling
Chemicals |
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 : |
Moderate |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
no.
102
TEL: 86 (0)
25-85328619 FAX: 86 (0)
25-85334552
EXECUTIVE SUMMARY
INCORPORATION DATE : november 24, 1999
REGISTRATION NO. : 320192000000654
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
2
REGISTERED CAPITAL : CNY 1,200,000
BUSINESS LINE :
trading
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : FAIR
FINANCIAL CONDITION : UNDETERMINED
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.57 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
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 November 24, 1999.
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 hazardous chemicals, selling chemicals and chemical
products, hardware, building materials, electrical machinery and equipment,
textiles and raw materials, decorative materials, department stores, cultural
and office supplies, household goods, auto parts, importing and exporting
various kinds of commodities and technology.
SC is mainly
engaged in selling chemicals.
Mr. Xie Baokang is
chairman of SC at present.
SC is known to
have approx. 2 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in
SC
is not known to host web site of its own at present.
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
No. 2
Xie Rong 16.67
No. 2
==================================
Address:
Tel: 86 025-85561108
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Chairman and General Manager:
Mr.
Working Experience(s):
At present Working
in SC as chairman and general manager.
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Supervisor:
Xie Rong ID# 320113198904269028
SC is mainly
engaged in selling chemicals.
SC’s products
mainly include: carboxylate.
SC sources its materials 100% from domestic market,
mainly
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include L/C and Credit of 30-60 days.
Note: SC declined to release its major suppliers and clients.
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.
SC declined to
release its bank details.
Investigations were made with the local Administration for Industry and
Commerce (the authority that issuing and renewing business license), however,
no financial records of SC was found.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a development history of
12 years. Credit dealings with SC should be confined into 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.45.11 |
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1 |
Rs.73.25 |
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Euro |
1 |
Rs.61.70 |
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.