MIRA INFORM REPORT

 

 

Report Date :           

15.10.2011

 

IDENTIFICATION DETAILS

 

Name :

SOJITZ (TIANJIN) CO., LTD.

 

 

Registered Office :

Room 1910, Tianjin International Building, No. 75 Nanjing Road, Heping District, Tianjin 300050 Pr

 

 

Country :

China

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

22.07.1999

 

 

Com. Reg. No.:

120000400009587

 

 

Legal Form :

Wholly Foreign-Owned Enterprise

 

 

Line of Business :

International Trade

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 50,000

Status :

Moderate

Payment Behaviour :

No Complaints

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 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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 

 

SOJITZ (TIANJIN) CO., LTD.

room 1910, tianjin international building, no. 75 nanjing road

heping district, tianjin 300050 PR CHINA

TEL: 86 (0) 22-23312202

FAX: 86 (0) 22-23306171

 

 

EXECUTIVE SUMMARY

 

Date of Registration          : july 22, 1999

REGISTRATION NO.                  : 120000400009587

LEGAL FORM                           : Wholly foreign-owned enterprise

CHIEF EXECUTIVE    : KAWASAKI KAZUHIKO (LEGAL REPRESENTATIVE)

REGISTERED CAPITAL             : usd 1,500,000

staff                                      : 10

BUSINESS CATEGORY             : trading

Revenue                                : CNY 37,306,000 (AS OF DEC. 31, 2010)

EQUITIES                                 : CNY 9,071,000 (AS OF DEC. 31, 2010)

WEBSITE                                 : N/A

E-MAIL                                     : N/A

PAYMENT                                : AVERAGE

Recommended Credit Limit: UP TO USD 50,000

MARKET CONDITION                : average

FINANCIAL CONDITION             : FAIR

OPERATIONAL TREND              : STAGNANT

GENERAL REPUTATION           : AVERAGE

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

 

SC was established as a wholly foreign-owned enterprise of PRC with State Administration of Industry & Commerce (SAIC) under registration No.: 120000400009587 on July 22, 1999.

 

SC’s Organization Code Certificate No.: 71292752-5

 

SC’s Tax No.: 120116712927525

 

SC’s registered capital: usd 1,500,000

 

SC’s paid-in capital: usd 1,500,000

 

Registration Change Record:

Date

Change of Contents

Before the change

After the change

--

Registration No.

012802

120000400009587

 

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

 

Name of Shareholder (s)

% of Shareholding

Sojitz (China) Co., Ltd.

86.67

Sojitz Corporation

13.33

 

SC’s Chief Executives:-

 

Position

Name

Legal Representative and Chairman

Kawasaki Kazuhiko

 

 

RECENT DEVELOPMENT

 

No recent development was found during our checks at present.

 

 

 

 

 

 

 

SHAREHOLDER CHART & BACKGROUND

 

Name                                                                                      % of Shareholding

Sojitz (China) Co., Ltd.                                                                                       86.67

Sojitz Corporation                                                                                  13.33

 

 

MANAGEMENT

 

Kawasaki Kazuhiko, Legal Representative and Chairman

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

Ø         Gender: M

Ø         Nationality: Japan

Ø         Qualification: University

Ø         Working experience (s):

 

From 1999 to present, working in SC as legal representative and chairman

 

Also working in Sojitz (China) Co., Ltd., Sojitz (Dalian) Co., Ltd., Sojitz (Guangzhou) Co., Ltd., Sojitz (Shanghai) Co., Ltd. as legal representative

 

 

BUSINESS OPERATION

 

SC’s registered business scope includes bonded warehousing; international trade; simple processing; commodity display; high-tech product development, introduction, development, transfer; equipment installation; wholesale, commission agency, import and export of metal products, chemical products and raw materials, synthetic resins, rubber, paper and paper-making raw materials, building materials, textile raw materials and textiles, electrical and mechanical equipment, hardware, home appliances, telecommunications equipment and parts, culture, sports goods and equipment, computer software and electronic products, native products, agricultural and livestock, and other related ancillary services.

 

SC is mainly engaged in international trade.

 

SC’s products mainly include: food, chemical products, fiber products, plastic products.

 

SC sources its materials 70% from domestic market, and 30% from overseas market. SC sells 85% of its products in domestic market, and 15% 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.

 

Staff & Office:

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

SC is known to have approx. 10 staff at present.

 

SC rents an area as its operating office, but the detailed information is unknown.

 

RELATED COMPANY

 

n         Sojitz (Dalian) Co., Ltd.

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

7th Floor, Senmao Building, No. 147 Zhongshan Road, 116000, Dalian, China

Tel: 86-411-8360-1177

Fax: 86-411-8360-7708

 

n         Sojitz (Guangzhou) Co., Ltd.

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

Room 803-805, Goldlion Digital Network Center, 138 Tiyu Road East, Tianhe, 510620, Guangzhou, China

Tel: 86-20-3878-1206

Fax: 86-20-3878-0466

 

n         Sojitz (Hong Kong) Ltd.

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

16f Harbour Centre, 25 Harbour Road, Wanchai, Hong Kong

Tel: 852-2844-1811

Fax: 852-2840-0791

 

n         Sojitz (Qingdao) Co., Ltd.

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

Room 1701, Yangguang Dasha Office Building, 61 Xianggang Zhong Lu, 266000, Qingdao, China

Tel: 86-532-8571-5101

Fax: 86-532-8571-5107

 

n         Sojitz (Shanghai) Co., Ltd.

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

22nd Floor, Ruijin Building, 205 Maoming Nan-Lu, Luwang-Qu, 200020, Shanghai, China

Tel: 86-21-6472-2211

Fax: 86-21-6472-2114/6472-4527

 

 

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: 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

 

The bank information of SC is not filed in SAIC.

 

 

FINANCIALS

 

Financial Summary

Unit: CNY’000

As of Dec. 31, 2010

Long term investment

0

Total assets

17,422

 

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

Long term liabilities

0

Total liabilities

8,351

Equities

9,071

 

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

Revenue

37,306

Profit before tax

-2,456

Less: profit tax

0

Profits

-2,456

 

Note: The detailed financials for Y2010 are not available in SAIC.

 

Important Ratios

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

 

As of Dec. 31, 2010

*Liabilities to assets

0.48

*Net profit margin (%)

-6.58

*Return on total assets (%)

-14.10

* Revenue/Total assets

2.14

 

 

FINANCIAL COMMENTS

 

PROFITABILITY: FAIR

l         The revenue 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 revenue is in an average level, comparing with the size of its total assets.

 

LEVERAGE: AVERAGE

l         The debt ratio of SC is average.

l         The risk for SC to go bankrupt is low.

 

Overall financial condition of the SC: Fair.

 

 

 

CONCLUSIONS

 

SC is considered small-sized in its line with fair financial conditions. A credit line at the above amount appears beyond SC’s capacities, while a credit line up to USD 50,000 is recommended.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.07

UK Pound

1

Rs.77.42

Euro

1

Rs.67.72

 

 

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.