MIRA INFORM REPORT

 

 

Report Date :           

19.07.2011

 

IDENTIFICATION DETAILS

 

Name :

LONG YE INDUSTRY LTD. CHINA

 

 

Registered Office :

Room 201, 2nd Block, 51 Building, Gift And Craft Market, Gift And Craft Market, Yiwu City, Zhejiang Province, 322000 Pr

 

 

Country :

China

 

 

Date of Incorporation :

31.03.2008

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

exporting various products garment, toys, arts & crafts, etc. from China Yiwu International Trade

 

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 :

Small Concern

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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 

 

LONG YE INDUSTRY LTD. CHINA

 Bottom of Form

Room 201, 2nd Block, 51 Building,

Gift And Craft Market, Gift And Craft Market, Yiwu City, Zhejiang Province

322000 Pr

TEL: 86 (0) 15868905520

FAX: N/A

 

 

 

 

Narrative Report

 

This refers to a type of report whose format is different from that of a standard report. Such type of report is provided when:

 

l         Information obtained is insufficient for compiling a standard report.

l         The enquired co has been out of business or its business address has been untraceable.

 

It should be noted that the time and manpower spent on preparing such type of report might be greater than those on a standard report. On many occasions, the information in this type of report still indicates the current status of the enquired co. and serves as a useful reference to assess its credit standing.

 

 

Adopted abbreviations

(as follows)

 

SC - Subject Company (the company inquired by you)

N/A – Not available

CNY – China Yuan Ren Min Bi

 

 

CHECK ON SC’S REGISTERED TELEPHONE LINE

 

˛        The given telephone & fax number is as below,

 

Tel/Fax: 86 (0) 579-83800160

 

We dialed the above number, and it does not exist at present.

 

˛        According to the given name, we found a webpage http://www.hellotrade.com/longye-industry-china/profile.html, which mentioned SC’s contact ways, as below,

 

(86)-(579)-85591879

(86)-15868905520

 

We dialed the first number, but it is always busy and could not be connected during our working time.

 

When we dialed the second cell phone number, a gentleman named Johnny answered. He admitted the English name, and told us its Chinese name in translation is “龙业实业有限公司” registered in Hong Kong, but mainly operated in Yiwu, Zhejiang Province.

 

Johnny introduced SC’s information,

-----------------------------------------------

u          SC is known to have approx. 15 staff at present.

u          E-mail: lyindustry@gmail.com

nechlani@gmail.com

u          MSN: mukeshnechlani@hotmail.com

u          Skype: mukesh111

u          Bank: Shenzhen Development Bank Co., Ltd.

Swift Code: SZDBCNBS

Account No.: 0SA11008809672201

u         SC has a related company named “Danyang Longye Garments Trading Co., Ltd.” registered in Danyang, Jiangsu.

 

 

SPOT VISIT

 

Room 201, 2nd Block, 51 Building, Gift and Craft Market, Gift and Craft Market, Yiwu City, Zhejiang Province

 

Johnny admitted that SC is currently working there.

 

 

OPERATION FROM INTERNET SOURCES

 

According to SC’s website:

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

 

SC is mainly engaged in exporting various products from china Yiwu international trade market and all over china market.

 

Main products: garment, toys, arts & crafts, etc.

 

 

 

 

REGISTRATION

 

*     Investigations were made with the Hong Kong registry, and we found the general registration information on SC, as below,

---------------------------------

Company file No.: 1221323

Date of Registration: March 31, 2008

Legal Form: Private

Status: Live

 

*         Investigations were made with the Danyang State Administration for Industry and Commerce (SAIC), however, we checked the general registration information about “Danyang Longye Garments Trading Co., Ltd.”:

-------------------------------------------

Registration No.: 321181000063392

Date of Registration: April 4, 2007

Legal Form: Limited Liabilities Company

Registered Capital: CNY 600,000

Legal Representative: Xue Jianhua

Registered Address: No. 1037, Huadong Building Market, Danyang, Jiangsu Province

 

 

CONCLUSIONS

 

SC is considered small-sized in its line with 3 years development history. Credit dealings with SC should be confined into small amount at present.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.57

UK Pound

1

Rs.71.75

Euro

1

Rs.62.60

 

 

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.