MIRA INFORM
REPORT
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Report Date : |
17.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
shanghai
orientwood int’l trading co., ltd. |
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Registered Office : |
Room 104, No. 69, Lane 1880, Shanghai 201204 PR |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
15.09.2003 |
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Com. Reg. No.: |
3102252022036 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importing and
Exporting Electromechanical Products. |
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 40,000 |
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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 – 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 and address
shanghai orientwood int’l trading
co., ltd.
room 104, no. 69, lane 1880,
shanghai 201204 PR
TEL: 86 (0) 21-58432292
FAX: 86 (0) 21-58432292
EXECUTIVE SUMMARY
INCORPORATION DATE : sep. 15, 2003
REGISTRATION NO. : 3102252022036
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
7
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
trading
TURNOVER :
CNY 17,016,000 (AS OF DEC. 31, 2009)
EQUITIES :
CNY 916,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.58609 = USd 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: SC’s complete name should be the
heading one, instead of the given one “Shanghai Orientwood International
Company Limited”.
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 Sep. 15, 2003.
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 importing and exporting commodities & technologies,
selling electromechanical products and accessories, building and decorating
material, painting material, metal products, plastic products, chemical raw
material and products, ceramic products, groceries and textile raw material.
SC is mainly
engaged in importing and exporting electromechanical products.
Mr.
Feng Gang has been legal representative
and chairman of SC since 2003.
SC is known to
have approx. 7 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shanghai.
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 AIC.
MAIN SHAREHOLDERS:
Name
% of Shareholding
Feng Gang ID# 330107196302250691 51
Zhou Peihua ID# 330107196401180641 49
l
Legal representative and Chairman:
Mr. Feng Gang #
330107196302250691, born in 1963 with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2003 to present Working
in SC as legal representative and chairman.
SC is mainly
engaged in importing and exporting electromechanical products.
SC’s products mainly
include: electromechanical products, etc.
SC sources its materials 90% from domestic
market, mainly
The buying terms of SC include Check, T/T, L/C, and Credit of 30-60
days. The payment terms of SC include Check, L/C, T/T and Credit of 30-60 days.
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
AC#:
31617100001073870
Relationship:
Balance Sheet
Unit: CNY’000
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As of Dec. 31, 2008 |
As of Dec. 31, 2009 |
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Cash & bank |
1,033 |
431 |
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Notes receivable |
19 |
340 |
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Inventory |
218 |
435 |
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Accounts
receivable |
32 |
4,516 |
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Advances to
suppliers |
2,030 |
0 |
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Non-current
assets due with in one year |
1 |
51 |
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Other accounts
receivable |
177 |
176 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
3,510 |
5,949 |
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Fixed assets net
value |
83 |
23 |
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Project under
construction |
0 |
0 |
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Long term
investment |
0 |
0 |
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Intangible and
other assets |
0 |
0 |
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------------------ |
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Total assets |
3,593 |
5,972 |
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============= |
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Short loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
0 |
1,319 |
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Advances from
clients |
2,307 |
3,313 |
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Accrued payroll |
6 |
20 |
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Taxes payable |
167 |
256 |
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Other accounts
payable |
57 |
148 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
2,537 |
5,056 |
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Long-term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
2,537 |
5,056 |
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Equities |
1,056 |
916 |
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------------------ |
------------------ |
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Total
liabilities & equities |
3,593 |
5,972 |
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Income Statement
Unit: CNY’000
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As of Dec. 31,
2008 |
As of Dec. 31,
2009 |
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Turnover |
20,319 |
17,016 |
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Cost of goods sold |
18,392 |
15,459 |
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Sales expense |
1,284 |
742 |
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Management expense |
1,069 |
925 |
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Finance expense |
-466 |
27 |
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Profit before
tax |
40 |
-138 |
|
12 |
0 |
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Profits |
28 |
-138 |
Important
Ratios
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As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
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*Current ratio |
1.38 |
1.18 |
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*Quick ratio |
1.30 |
1.09 |
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*Liabilities
to assets |
0.71 |
0.85 |
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*Net profit
margin (%) |
0.14 |
-0.81 |
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*Return on
total assets (%) |
0.78 |
-2.31 |
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*Inventory
/Turnover ×365 |
4 days |
10 days |
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*Accounts
receivable/Turnover ×365 |
1 day |
97 days |
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*Turnover/Total
assets |
5.66 |
2.85 |
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* Cost of
goods sold/Turnover |
0.91 |
0.91 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in its line in
2008, but it decreased in 2009.
l
SC’s net profit margin appears average in 2008, but
it appears fair in 2009.
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SC’s return on total assets appears average in
2008, but it appears fair in 2009.
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SC’s cost of goods sold is fairly high in both 2
years, comparing with its turnover.
LIQUIDITY: AVERAGE
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The current ratio of SC is maintained in a normal level
in both 2 years.
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SC’s quick ratio is maintained in a normal level in
both 2 years.
l
The inventory of SC appears average in both 2
years.
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The accounts receivable of SC appears average in
2008, but large in 2009.
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SC has no short-term loan in both 2 years.
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SC’s turnover is in a fairly good level in 2008,
but in an average level in 2009, comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is average in 2008, but fairly
high in 2009.
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. The large amount of accounts receivable could be a threat to SC’s
financial condition. A credit line up to USD 40,000 appears to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.45 |
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|
1 |
Rs.72.90 |
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Euro |
1 |
Rs.61.43 |
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 Company |
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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.