MIRA INFORM REPORT

 

 

Report Date :

04.01.2011

 

IDENTIFICATION DETAILS

 

Name :

ORIENTAL WEAVERS (TIANJIN) CO., LTD.

 

 

Registered Office :

Industrial Area, Dakoutun Town, Baodi District, Tianjin, 301801 Pr

 

 

Country :

China

 

 

Date of Incorporation :

19.03.2003

 

 

Com. Reg. No.:

120000400006664

 

 

Legal Form :

Chinese-Foreign Equity Joint Venture Enterprise

 

 

Line of Business :

manufacturing and Selling Woven Carpets

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

oriental weavers (tianjin) co., ltd.

industrial area, dakoutun town, baodi district,

tianjin, 301801 PR CHINA

TEL: 86 (0) 22-29685662             FAX: 86 (0) 22-29685005

 

 

EXECUTIVE SUMMARY

 

INCORPORATION DATE            : march 19, 2003

REGISTRATION NO.                  : 120000400006664

REGISTERED LEGAL FORM     : Chinese-foreign equity joint venture enterprise

CHIEF EXECUTIVE            : MR. Diaa Afify Elsheikh (CHAIRMAN)

STAFF STRENGTH                    : 400

REGISTERED CAPITAL             : usd 13,000,000

BUSINESS LINE                        : manufacturing

TURNOVER                              : n/a

EQUITIES                                 : n/a

PAYMENT                                : AVERAGE

RECOMM. CREDIT RANGE       : MODERATE AMOUNT

MARKET CONDITION                : average

FINANCIAL CONDITION             : UNDETERMINED

OPERATIONAL TREND              : STEADY

GENERAL REPUTATION           : AVERAGE

EXCHANGE RATE                     : CNY 6.61 = 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

 

 

Rounded Rectangle: HISTORY 

 

 


SC was registered as a Chinese-foreign equity joint venture enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on March 19, 2003.

Company Status: Chinese-foreign equity joint venture enterprise

This form of business in PR China is defined as a legal person. It is a limited co. jointly invested by one or more foreign companies and one or more PR China controlled companies within the territories of PR China according to a certain proportion of capital investment. The investing parties exercise business management, share profits and bear all risks and liabilities of the co. together. The equity joint venture law requires that foreign party contribute not less than 25% of the registered capital, with no maximum. The investing parties are free to agree on method of profit distribution and liabilities bearing according to the proportion of capital investment. Each investing parties contributes funds, tangible assets, technology & etc. The board of directors excises the high authority. The joint venture usually has a limited duration of 10 to 50 years. Enterprise with large investment, long construction periods, low investment returns, introducing of advanced technology & advanced technology products that have good competition position in international market may extend beyond the 50 years limit.

 

 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SC’s registered business scope includes manufacturing and selling woven carpets and related products.

 

SC is mainly engaged in manufacturing and selling woven carpets.

 

Mr. Diaa Afify Elsheikh is chairman of SC at present.

 

SC is known to have approx. 400 employees at present.

 

SC is currently operating at the above stated address, and this address houses its operating office and factory in the industrial zone of Tianjin. Our checks reveal that SC owns the total premise about 30,000 square meters.

 

Rounded Rectangle: WEB SITE 

 


SC is not known to host web site of its own at present.

 

 

Rounded Rectangle: OWNERSHIP/MANAGEMENT BACKGROUND 

 

 


MAIN SHAREHOLDERS:

 
Name                                                                                                  % of Shareholding

 

Beijing Wanshijie Carpet Co., Ltd.                                                                       0.46

Oriental Weavers International Holdings Company (Egypt)                         77.39

Oriental Weavers Carpet Company (Egypt)                                                           22.15

 

 

 

Beijing Wanshijie Carpet Co., Ltd.:

==========================

Address: No. 9 Qutou Street, Qutou Village, Tongzhou, Beijing

Tel: 86 010-80521692

 

 

Oriental Weavers Carpet Company:

==========================

Address: Industrial Area B1, 10th of Ramadan City, Egypt

Tel: + (2015) 366 666

Fax: + (2015) 364 498

Web: http://www.orientalweavers.com

 

 

Rounded Rectangle: MANAGEMENT 

 

 


l         Chairman:

 

Mr. Diaa Afify Elsheikh is currently responsible for the overall management of SC.

 

Working Experience(s):

 

At present                     Working in SC as chairman.

 

 

Rounded Rectangle: BUSINESS OPERATIONS BACKGROUND  

 

 


SC is mainly engaged in manufacturing and selling woven carpets.

 

SC’s products mainly include: woven carpets.

 

SC sources its materials 100% from domestic market, mainly Tianjin. SC sells 20% of its products in domestic market, and 80% 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 and Credit of 30-60 days.

 

 

Rounded Rectangle: RELATED COMPANIES BACKGROUND  

 

 


SC is not known to have any subsidiary at present.

 

Rounded Rectangle: PAYMENT BACKGROUND  

 

 


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.

 

 

Rounded Rectangle: BANKING BACKGROUND  

 

 


SC’s management declined to release whether it has account in Agricultural Bank of China.

 

 

Rounded Rectangle: FINANCIAL HIGHLIGHTS BACKGROUND  

 

 


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.

 

 

Rounded Rectangle: REMARKS BACKGROUND  

 

 


SC is considered medium-sized in its line with a development history of 8 years. Credit up to moderate amount may be considered.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.67

UK Pound

1

Rs.69.45

Euro

1

Rs.59.37

 

RATING EXPLANATIONS

 

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

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

----

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%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.