MIRA INFORM
REPORT
|
Report Date : |
24.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
ALLIGATOR CHINA CO., LTD. |
|
|
|
|
Registered Office : |
No. 192, Chenjiagou Road, Tang Town, Pudong New Area, Shanghai, 201201 Pr
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
16.08.2007 |
|
|
|
|
Com. Reg. No.: |
310115400229855 |
|
|
|
|
Legal Form : |
Wholly Foreign-Owned |
|
|
|
|
Line of Business : |
import and export marine safety equipment and
hardware tools |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Poor |
|
Payment
Behaviour : |
Unknown |
|
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) |
|
|
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
Alligator China Co.,
Ltd.
No. 192,
pudong new area,
192
TEL: 86 (0) 21-68683978 FAX: 86 (0) 21-68683977
EXECUTIVE SUMMARY
INCORPORATION DATE : aug. 16, 2007
REGISTRATION NO. : 310115400229855
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED
STAFF
STRENGTH : 4
REGISTERED
CAPITAL :
USD 140,000
BUSINESS
LINE : TRADING
TURNOVER : CNY 4,420,000 (AS OF DEC. 31,
2009)
EQUITIES : CNY -2,050,000
(AS OF DEC. 31, 2009)
PAYMENT
: AVERAGE
RECOMM.
MARKET
CONDITION : AVERAGE
FINANCIAL
CONDITION : poor
OPERATIONAL
TREND :
fair
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : CNY 6.58 = 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 correct address should be the heading one, while
the given one (No. 586,
SC was registered as
a wholly foreign-owned enterprise at local Administration for industry &
commerce (AIC - the official body of issuing and renewing business license) on
Aug. 16, 2007.
Company Status: Wholly foreign-owned enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered business scope includes
wholesaling, commission agent (excluding auction), importing and exporting
marine safety equipment, maintenance equipment, hardware tools, sealing products
and plumbing and sanitary wares, and providing related matching
businesses.
SC is mainly engaged in import and export
marine safety equipment and hardware tools.
Ms. Wei Xiaoxia has been chairman of SC since
Dec., 2010.
SC is known to have approx. 4
employees at present.
SC is currently operating
at the above stated address, and this address houses its operating office and
warehouse in
http://www.alligator.nl/
The website belongs to A.A.H. Alligator B.V., and it includes the information
on SC. The design is professional and the content is well organized. At present
it is both in Chinese and English versions.
Email: shanghai@alligator.nl
SC’s VAT-number is
310115664356958.
SC’s former chairman
Ms. Chang Yan (常艳) was taken place by Ms. Wei Xiaoxia (魏晓霞) in Dec.
of 2010.
MAIN SHAREHOLDERS:
Name % of Shareholding
Alligator
CR No. 1113527
Date of Incorporation 7-Mar.-2007
Company Status Private
Active Status Live
l
Chairman
& General Manager:
Ms. Wei Xiaoxia,
about 31 years old, with university education. She is currently responsible for
the overall management of SC.
Working Experience(s):
From Dec., 2010 to present Working in SC as chairman and general manager
SC is mainly engaged in import and export
marine safety equipment and hardware tools.
SC’s products mainly include marine safety
equipment and hardware tools.
SC sources its materials 95% from domestic market, and 5% from overseas
market. SC sells 90% of its products in domestic market, and 10% to overseas
market.
The buying terms of
SC include Check, T/T, L/C and Credit of 30-60 days. The payment terms of SC
include Check, T/T, 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.
China Construction Bank
AC# 31001576613050009383
Relationship:
Balance Sheet (as
of Dec. 31, 2009)
Unit: CNY’000
|
Cash & bank |
440 |
|
Inventory |
1,720 |
|
Accounts receivable |
220 |
|
Advances to suppliers |
0 |
|
Other receivables |
70 |
|
Other current assets |
50 |
|
|
------------------ |
|
Current assets |
2,500 |
|
Fixed assets net value |
590 |
|
Projects under construction |
0 |
|
Long term investment |
0 |
|
Other assets |
50 |
|
|
------------------ |
|
Total assets |
3,140 |
|
|
============= |
|
Short loans |
0 |
|
Accounts payable |
780 |
|
Other payable |
1,240 |
|
Taxes payable |
-300 |
|
Advances from clients |
3,470 |
|
Other current liabilities |
0 |
|
|
------------------ |
|
Current liabilities |
5,190 |
|
Long term liabilities |
0 |
|
|
------------------ |
|
Total liabilities |
5,190 |
|
Equities |
-2,050 |
|
|
------------------ |
|
Total liabilities & equities |
3,140 |
|
|
============= |
Income Statement (as
of Dec. 31, 2009)
Unit: CNY’000
|
Turnover |
4,420 |
|
Cost of goods sold |
3,310 |
|
Sales expense |
1,410 |
|
Management expense |
380 |
|
Finance expense |
160 |
|
Profit before tax |
-850 |
|
Less: profit tax |
0 |
|
Profits |
-850 |
Important Ratios
=============
|
|
as of Dec. 31, 2009 |
|
*Current ratio |
0.48 |
|
*Quick ratio |
0.15 |
|
*Liabilities to assets |
1.65 |
|
*Net profit margin (%) |
-19.23 |
|
*Return on total assets (%) |
-27.07 |
|
*Inventory /Turnover ×365 |
142 days |
|
*Accounts receivable/Turnover ×365 |
18 days |
|
*Turnover/Total assets |
1.41 |
|
* Cost of goods sold/Turnover |
0.75 |
PROFITABILITY: POOR
l
The
turnover of SC appears average in its line.
l
SC’s net
profit margin is poor.
l
SC’s
return on total assets is poor.
l
SC’s cost
of goods sold is average, comparing with its turnover.
LIQUIDITY: POOR
l
The
current ratio of SC is maintained in a poor level.
l
SC’s
quick ratio is maintained in a poor level.
l
The
inventory of SC appears large in 2009.
l
The
accounts receivable of SC is maintained in an average level.
l
SC has
no short-term loan in 2009.
l
SC’s
turnover is in an average level, comparing with the size of its total assets.
LEVERAGE: POOR
l
The debt
ratio of SC is too high.
l
The risk
for SC to go bankrupt exists.
Overall financial condition of the SC: POOR.
SC is considered
small-sized in its line with poor financial conditions. A credit line at the
above amount appears to be beyond SC’s capacities, while credit dealings with
SC should be confined into C.O.D. at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.70 |
|
|
1 |
Rs.72.78 |
|
Euro |
1 |
Rs.61.65 |
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 |
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.