MIRA
INFORM REPORT
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Report Date : |
15.10.2011 |
IDENTIFICATION DETAILS
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Name : |
NINGBO FAMOUS IMPORT & EXPORT CO., LTD. |
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Registered Office : |
Room 1311, City Renhe Mansion, No. 58 Qizha Street, Haishu District Ningbo, Zhejiang Province 315000 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
06.07.2009 |
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Com. Reg. No.: |
330200400040690 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Operating and acting as an agent of importing and exporting various kinds of commodities and technology. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 and address
NINGBO FAMOUS IMPORT & EXPORT CO., LTD.
(TRADE NAME: ALLIED RAINBOW ASIA LTD.)
ROOM 1311, CITY RENHE MANSION, NO. 58 QIZHA STREET, HAISHU DISTRICT
NINGBO, ZHEJIANG PROVINCE 315000 PR CHINA
TEL: 86 (0) 574-27893448
FAX: 86 (0) 574-27780616
EXECUTIVE SUMMARY
Date of Registration : july 6, 2009
REGISTRATION NO. : 330200400040690
LEGAL FORM : Wholly foreign-owned enterprise
REGISTERED CAPITAL : usd 100,000
staff :
6
BUSINESS CATEGORY : trading
Revenue :
CNY 0 (AS
OF DEC. 31, 2010)
EQUITIES :
CNY 603,000 (AS OF DEC. 31, 2010)
WEBSITE : www.famous-steel.com
E-MAIL :
jikin@famous-steel.com
PAYMENT :
average
Recommended Credit Limit: C.O.D.
MARKET CONDITION : CURRENTLY REMAINS TO OBSERVE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : fair
GENERAL REPUTATION : fair
EXCHANGE RATE :
CNY 6.38 = 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
***Note: According to the given telephone numbers,
we locate SC.
SC’s name should be the above stated one, ALLIED RAINBOW ASIA LTD. (the given name)
is SC’s related company registered in Hong Kong, and the given address (7/F,
Man On Commercial Building 12-13, Jubilee St Central Hong Kong) also belongs to
it.
SC was established
as a wholly foreign-owned enterprise of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 330200400040690 on July 6, 2009.
SC’s Organization Code Certificate No.:
69135180-2
SC’s Tax No.: 330203691351802
SC’s registered capital: usd 100,000
SC’s paid-in capital: usd 100,000
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 |
|
Vikas Sureshkumar Bhageria (India) |
50 |
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Rahul Bhageria (India) |
50 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Rahul Bhageria |
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Supervisor |
Vikas
Sureshkumar Bhageria |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Vikas Sureshkumar Bhageria (India) 50
Rahul Bhageria (India) 50
MANAGEMENT
Rahul Bhageria, Legal
Representative, Chairman and General Manager
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Ř
Gender: M
Ř
Nationality: India
Ř
Mobile: 86 (0) 13454708767
Ř
Working
experience (s):
From 2009
to present, working in SC as legal representative, chairman and general manager
Vikas Sureshkumar
Bhageria, Supervisor
------------------------------------------------------
Ř
Gender: M
Ř
Qualification:
India
BUSINESS OPERATION
***Note: SC started
its normal operation in 2011.
SC’s registered business scope includes operating and
acting as an agent of importing and exporting various kinds of commodities and
technology.
SC is mainly
engaged in international trade.
SC’s products
mainly include:
Stainless Steel
Products
Carbon Steel Products
Stainless Steel Fittings
SC sources its materials 100% from domestic
market. SC sells 100% of its products overseas 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. 6 staff at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
Allied Rainbow Asia Limited
(Hong Kong)
----------------------------------------------------
Date of Registration: February 23, 2006
Registration No.: 1026050
Legal Form: Private
Status: Live
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 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.
BANKING
The bank
information of SC is not filed in SAIC.
SC’s employee
refused to release if SC has an account in State Bank of India, Hong Kong.
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
106 |
603 |
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Accounts
receivable |
0 |
0 |
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Advances to
suppliers |
0 |
0 |
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Other receivable |
0 |
0 |
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Inventory |
0 |
0 |
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Non-current
assets within one year |
0 |
0 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
106 |
603 |
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Fixed assets |
0 |
0 |
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Construction in
progress |
0 |
0 |
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Intangible
assets |
0 |
0 |
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Long-term
prepaid expenses |
0 |
0 |
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Deferred income
tax assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
106 |
603 |
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============= |
============= |
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Short-term loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
0 |
0 |
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Wages payable |
0 |
0 |
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Advances from
clients |
0 |
0 |
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Other payable |
0 |
0 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
0 |
0 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
0 |
0 |
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Equities |
106 |
603 |
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------------------ |
------------------ |
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Total
liabilities & equities |
106 |
603 |
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============= |
============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2010 |
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Revenue |
0 |
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Cost of sales |
0 |
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Sales expense |
0 |
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Management expense |
66 |
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Finance expense |
16 |
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Profit before
tax |
-82 |
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Less: profit tax |
0 |
|
-82 |
CONCLUSIONS
SC is considered small-sized in its line with a short business history. Credit
should be extended under guarantee, and C.O.D. is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
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|
1 |
Rs.77.42 |
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Euro |
1 |
Rs.67.72 |
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.