MIRA INFORM REPORT
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Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI HSD LOGISTICS CO., LTD. |
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Registered Office : |
Room 2703, Zhongyi Tower, No. 2 Building, Lane 1040, Caoyang
Road, Shanghai, 200063 Pr |
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Country : |
China |
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Date of Incorporation : |
26.04.2010 |
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Com. Reg. No.: |
310229001460870 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Subject will be
engaged in freight forwarding. |
RATING & COMMENTS
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MIRA’s Rating : |
Nb |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Company |
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Payment
Behaviour : |
Unknown |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 & address
SHANGHAI
HSD LOGISTICS CO., LTD.
ROOM 2703, ZHONGYI
TOWER, NO. 2 BUILDING, LANE 1040,
CAOYANG ROAD,
SHANGHAI, 200063 PR CHINA
TEL: 86 (0)
21-32240205 FAX: 86 (0) 21-32240207
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 26, 2010
REGISTRATION NO. :
310229001460870
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH : 3
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
LOGISTICS
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
NOT YET DETERMINED
RECOMM. CREDIT RANGE : C.O.D.
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : SUBJECT TO LONGER PERIOD OF
OBSERVATION
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.47855=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 Ren Min Bi
SC was registered as a limited liabilities co. at local Administration for Industry & Commerce (AIC-The official body of issuing and renewing business license) on Apr. 26, 2010.
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 freight forwarder,
loading and unloading service, post business, importing and exporting
commodities and technology, selling rubber and plastic products, clothes and
accessories, textiles, metal products, electromechanical equipment, arts and
gifts, stationery, auto parts, electronic products, chemical raw material and
products, hardware, furniture, leather products, paper products, packaging
material, cosmetic, bedding products and groceries.
SC is in the stage
of preparation now and has not started normal operation. According to SC’s
employee, SC will be mainly engaged in freight forwarding.
Mr. Fan
Jiansheng has been legal representative and chairman of SC since 2010.
SC is known
to have approx. 3 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. Our checks reveal that SC
rents the total premise, but SC’s accountant refused to release the gross area.
SC is not known to host web site of its own at present.
SC is in the stage of preparation now and has not started normal
operation.
Note: Until Dec. 31, 2010, SC’s paid-up capital was CNY 1,000,000.
MAIN
SHAREHOLDERS:
Name
%
of shareholdings
Fan Jiansheng 80
Xu Tinglan 20
l
Legal Representative and Chairman:
Mr. Fan Jiansheng, born in 1956, he is currently responsible for the
overall management of SC.
Working Experience(s):
From 2010 to present Working in SC as legal representative and chairman.
SC is in the stage
of preparation now and has not started normal operation. According to SC’s
employee, SC will be mainly engaged in freight forwarding.
Royal Global Logistics Ltd.
Note: The said company is jointly occupying the heading premise with SC.
Overall payment appraisal:
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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: N/A
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.
SC’s management
declined to release its bank details.
Established in
April of 2010 and has not started normal operation yet, SC’s financial information
is not available in local AIC.
SC was established in a small size, and its credit has not been
established yet. Credit dealings with SC should be confined into C.O.D. at
present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.72 |
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UK Pound |
1 |
Rs.73.47 |
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Euro |
1 |
Rs.65.38 |
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 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.