MIRA
INFORM REPORT
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Report Date : |
17.02.2011 |
IDENTIFICATION DETAILS
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Name : |
zhuhai
riverwood trading co., ltd. |
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Registered Office : |
Room 411, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
28.04.2003 |
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Com. Reg. No.: |
440400000133432 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged In International Trade |
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 1,000 |
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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
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
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
zhuhai
riverwood trading co., ltd.
room 411, no. 138 cuiwei east road,
zhuhai, guangdong PROVINCE, 519070 PR CHINA
TEL: 86 (0) 756-8889688
FAX: 86 (0) 756-8889688
EXECUTIVE SUMMARY
INCORPORATION DATE : april 28, 2003
REGISTRATION NO. : 440400000133432
REGISTERED LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE : Ms. chen
xuexia (CHAIRMAN)
STAFF STRENGTH : 5
REGISTERED CAPITAL : CNY 3,000,000
BUSINESS LINE : trading
TURNOVER : CNY 262,000 (AS OF
DEC. 31, 2009)
EQUITIES : CNY 2,601,000 (AS OF DEC. 31, 2009)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO usd 1,000
MARKET CONDITION : FAIR
FINANCIAL CONDITION : fair
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.59 = 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: SC is operating in the heading address, instead of the
given address - No. 23 Jiye Road, c Area
The Sansui Central Science and Technology Park, Leaping Town, Shanshui
District, Foshan City, Guangdong Province, P.R. China 528137.
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 April 28, 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 wholesale of
communications equipment, plastic products, electronic products, hardware,
building materials, cosmetics, leather products, arts and crafts, knitwear,
textiles, daily necessities, chemical products, culture, office supplies,
vehicle parts, wholesale and retail of clothing, international trade
SC is mainly engaged in international trade.
Ms. Chen Xuexia has been chairman of SC since 2003.
SC is known to have approx. 5 employees at present.
SC is currently operating at the above stated address, and
this address houses its operating office in Zhuhai. Our checks reveal that SC
rents the total premise, but the gross area is unspecified.
SC is not known to host web site of its own at present.
SC started its normal operation in 2009.
Changes of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
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Registration No. |
4404002028449 |
440400000133432 |
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Zhan Xiaocheng (ID# 44010219660712004X) 90
Chen Xuexia (ID# 440102340115002) 10
Chairman
and General Manager:
Ms. Chen Xuexia, 77 years old with university education. She
is currently responsible for the overall management of SC.
Working Experience(s):
From 2003 to present Working
in SC as chairman and general manager.
Supervisor:
SC is mainly engaged in international trade.
SC started its normal operation in 2009.
SC’s products mainly include: chemical products.
SC sources its materials 100% from domestic market, mainly
Guangdong. SC sells 100% of its products to overseas market, mainly Southeast
Asian market.
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.
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.
Shenzhen Development Bank Zhuhai Sub-branch
AC#：11003807834601
Relationship: Normal.
Balance
Sheet
|
Unit:
CNY’000 |
as of Dec. 31, 2008 |
as of Dec. 31, 2009 |
|
Cash & bank |
1,816 |
--- |
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Inventory |
343 |
--- |
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Accounts receivable |
0 |
--- |
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Other Accounts receivable |
2,872 |
--- |
|
Advances to suppliers |
0 |
--- |
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To be apportioned expense |
0 |
--- |
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Other current assets |
0 |
--- |
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|
------------------ |
------------------ |
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Current assets |
5,031 |
--- |
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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 |
5,181 |
5,798 |
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============= |
============= |
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Short loans |
0 |
--- |
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Accounts payable |
811 |
--- |
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Other Accounts payable |
1,658 |
--- |
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Tax payable |
-30 |
--- |
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Welfare payable |
52 |
--- |
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Other current liabilities |
-1 |
--- |
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------------------ |
------------------ |
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Current liabilities |
2,490 |
--- |
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Long term liabilities |
0 |
--- |
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Other liabilities |
0 |
--- |
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------------------ |
------------------ |
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Total liabilities |
2,490 |
3,197 |
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Equities |
2,691 |
2,601 |
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------------------ |
------------------ |
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Total liabilities & equities |
5,181 |
5,798 |
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============= |
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Income
Statement
|
Unit:
CNY’000 |
as of Dec. 31, 2008 |
as of Dec. 31, 2009 |
|
Turnover |
0 |
262 |
|
Cost of goods sold |
0 |
--- |
|
Sales expense |
129 |
--- |
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Management
expense |
0 |
--- |
|
Finance expense |
-18 |
--- |
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Profit before tax |
-112 |
-89 |
|
Less: profit tax |
0 |
0 |
|
Profits |
-112 |
-89 |
Important
Ratios
|
|
As of Dec. 31, 2008 |
As of Dec. 31, 2009 |
|
*Current ratio |
2.02 |
/ |
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*Quick ratio |
1.88 |
/ |
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*Liabilities to assets |
0.48 |
0.55 |
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*Net profit margin (%) |
/ |
-33.97 |
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*Return on total assets (%) |
-2.16 |
-1.54 |
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*Inventory /Turnover ×365 |
/ |
/ |
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*Accounts receivable/Turnover ×365 |
/ |
/ |
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*Turnover/Total assets |
0 |
0.05 |
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* Cost of goods sold/Turnover |
/ |
/ |
PROFITABILITY:
POOR
The turnover of SC appears poor in its line.
SC’s net profit margin is poor.
SC’s return on total assets is fair.
LIQUIDITY:
AVERAGE
The current ratio of SC is maintained in a fairly good level
in 2008.
SC’s quick ratio is maintained in a fairly good level in
2008.
SC has no short-term loan and accounts receivable in 2008.
The inventory of SC appears average in 2008.
SC’s turnover is in a poor level in 2009, comparing with the
size of its total assets.
LEVERAGE:
AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Fair.
SC is considered small-sized in its line with fair financial
conditions. A credit line up to USD 1,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.45 |
|
|
1 |
Rs.72.90 |
|
Euro |
1 |
Rs.61.43 |
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 |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
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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.