MIRA INFORM REPORT

 

 

Report Date :           

15.06.2011

 

IDENTIFICATION DETAILS

 

Name :

YONGKANG FALI MACHINERY FACTORY

 

 

Registered Office :

2/F, No. 18 Xingda 1st Road, Xicheng, Yongkang City, Jinhua, Zhejiang Province, 321300 Pr

 

 

Country :

China

 

 

Date of Incorporation :

17.01.2008

 

 

Com. Reg. No.:

330784000018800

 

 

Legal Form :

Sole Proprietorship Enterprise

 

 

Line of Business :

manufacturing and selling small gasoline engine, lawn mower, chain saw, garden tools, hardware tools and accessories

 

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 Company 

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 

 

YONGKANG FALI MACHINERY FACTORY

2/F, NO. 18 XINGDA 1ST ROAD, XICHENG, YONGKANG CITY, JINHUA,

ZHEJIANG PROVINCE, 321300 PR CHINA

TEL: 86 (0) 579-87296711

FAX: 86 (0) 579-87296711/87361828

 

 

EXECUTIVE SUMMARY

 

Date of Registration          : january 17, 2008

REGISTRATION NO.                  : 330784000018800

LEGAL FORM                           : Sole Proprietorship enterprise

CHIEF EXECUTIVE                        : chen huangjian (LEGAL REPRESENTATIVE)

REGISTERED CAPITAL             : cny 150,000

staff                                      : 17

BUSINESS CATEGORY             : manufacturing

Revenue                                : n/a

EQUITIES                                 : n/a

WEBSITE                                 : http://www.cnfali.com

E-MAIL                                     : Sales@cnfali.com

PAYMENT                                : AVERAGE

Recommended Credit

Limit                                        : small amount

MARKET CONDITION                : FAIR

FINANCIAL CONDITION            : N/A

OPERATIONAL TREND              : ORDINARY

GENERAL REPUTATION                       : AVERAGE

EXCHANGE RATE                     : CNY 6.48 = USD 1

 

 

Adopted abbreviations

(as follows)

 

SC - Subject Company (the company inquired by you)

N/A – Not available

CNY – China Yuan Ren Min Bi

 

OPERATIONAL TREND & GENERAL REPUTATION:

 

This section aims at indicating the relative positions of SC in respect of its operational trend & general reputation

 

Operational Trend:-                                             General Reputation:-

Upward                                                             Excellent

Steady                                                              Good

Fairly Steady                                                     Fairly Good

Ordinary                                                            Average

Fair                                                                   Fair

Stagnant                                                           Detrimental

Downward                                                         Not known

Not known                                                         Not yet be determined

Not yet be determined

 

 

LEGAL STATUS & HISTORY

 

SC was established as a sole proprietorship enterprise of PRC with State Administration of Industry & Commerce (SAIC) under registration No.: 330784000018800 on January 17, 2008.

 

SC’s Organization Code Certificate No.: 671642565

 

SC’s registered capital: cny 150,000

 

No significant changes of SC have been noted in SAIC since its incorporation.

 

Current Co search indicates SC’s shareholders & chief executives are as follows:-

 

Name of Shareholder (s)

% of Shareholding

Chen Huangjian

 

100

 

SC’s Chief Executives:-

 

Legal Representative: Chen Huangjian

 

 

RECENT DEVELOPMENT

 

No recent development was found during our checks at present.

 

 

SHAREHOLDER CHART & BACKGROUND

 

Name                                                                                                  % of Shareholding

 

Chen Huangjian                                                                                                 100

 

 

MANAGEMENT

 

Chen Huangjian, Legal Representative

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

Ø         Gender: M

Ø         Mobile: 0086 13175522158

Ø         Working experience (s):

From 2008 to present, working in SC as legal representative.

 

 

BUSINESS OPERATION

 

SC’s registered business scope includes manufacturing and selling small gasoline engine, lawn mower, chain saw, garden tools, hardware tools and accessories.

 

SC is mainly engaged in manufacturing and selling garden tools.

 

Brand:

 

SC’s products mainly include: Chain saws, Brush cutters, Hedge trimmers, Ground drillers, Long pole tools, Engines, Mini harvesters, Lawn mowers, Water pumps, Leaf blowers, Tea Pluckers.

      

SC sources its materials 100% from domestic market, mainly Zhejiang. SC sells 100% of its products to overseas market, mainly USA and Southeast Asian market.

 

The buying terms of SC include T/T and Credit of 30-60 days. The payment terms of SC include L/C and Credit of 30-60 days.

 

Staff & Office:

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

SC is known to have approx. 17 staff at present.

 

SC rents an area as its operating office & factory of approx. 3,000 sq. meters at the heading address.

 

 

RELATED COMPANY

 

SC is not known to have any subsidiary at present.

 

 

PAYMENT

 

Overall payment appraisal:

( ) Excellent      ( ) Good      (X) Average      ( ) Fair      ( ) Poor      ( ) Not yet be 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 records 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.

 

 

BANKING

 

Basic Bank:

 

Yongkang Rural Cooperative Banks Longshan Sub-branch

 

AC# 201000078458421

 

 

FINANCIALS

 

As a sole proprietorship enterprise, SC is not required to submit its finance information to the local AIC.

 

 

 

 

CONCLUSIONS

 

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

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.77

UK Pound

1

Rs.73.45

Euro

1

Rs.64.55

 

 

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.