MIRA INFORM REPORT

 

 

Report Date :           

17.10.2011

 

IDENTIFICATION DETAILS

 

Name :

DALIAN HOWMY INTERNATIONAL TRADE CO., LTD.

 

 

Registered Office :

Room 10-B1, Liyuan Building, No. 16 Mingze Street, Zhongshan District, Dalian, Liaoning Province 116001 Pr

 

 

Country :

China

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

31.07.2006

 

 

Com. Reg. No.:

210200000225695

 

 

Legal Form :

Limited Liabilities Company

 

 

Line of Business :

Importing and exporting goods and technology.

 

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 1,000

Status :

Small Company 

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 

 

dalian howmy international trade co., ltd.

room 10-b1, liyuan building, no. 16 mingze street

zhongshan district, dalian, liaoning province 116001 PR CHINA

TEL: 86 (0) 411-82820709/82699146

FAX: 86 (0) 411-82820728

 

 

EXECUTIVE SUMMARY

 

Date of Registration          : july 31, 2006

REGISTRATION NO.                  : 210200000225695

LEGAL FORM                           : Limited liabilities company

CHIEF EXECUTIVE            : liao heng (LEGAL REPRESENTATIVE)

REGISTERED CAPITAL : cny 500,000

staff                                      : 5

BUSINESS CATEGORY : trading

Revenue                                : CNY 192,000 (AS OF DEC. 31, 2010)

EQUITIES                                 : CNY 219,000 (AS OF DEC. 31, 2010)

WEBSITE                                 : N/A

E-MAIL                                     : N/A

PAYMENT                                : AVERAGE

Recommended Credit Limit: UP TO USD 1,000

MARKET CONDITION                : poor

FINANCIAL CONDITION             : fair

OPERATIONAL TREND  : DOWNWARD

GENERAL REPUTATION           : fair

EXCHANGE RATE                     : CNY 6.37 = 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 limited liabilities company of PRC with State Administration of Industry & Commerce (SAIC) under registration No.: 210200000225695 on July 31, 2006.

 

SC’s Organization Code Certificate No.: 78734581-0

SC’s registered capital: cny 500,000

 

SC’s paid-in capital: cny 500,000

 

Registration Change Record:

Date

Change of Contents

Before the change

After the change

2009-3-10

Legal Representative

Liu Xinyu

Liao Heng

Shareholder (s) (% of Shareholding)

Fang Jie 20%

Liu Xinyu 80%

Liao Heng 80%

Peng Wei  20%

2011-6-1

Registration No.

2102002140623

210200000225695

 

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

 

Name of Shareholder (s)

% of Shareholding

Liao Heng

 

80

Peng Wei

 

20

 

SC’s Chief Executives:-

 

Position

Name

Legal Representative, Chairman, and General Manager

Liao Heng

Supervisor

Peng Wei

 

 

RECENT DEVELOPMENT

 

No recent development was found during our checks at present.

 

 

SHAREHOLDER CHART & BACKGROUND

 

Name                                                                                      % of Shareholding

Liao Heng                                                                                              80

Peng Wei                                                                                              20

 

 

MANAGEMENT

 

Liao Heng, Legal Representative, Chairman and General Manager

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

Ø         Gender: M

Ø         Age: 38

Ø         ID# 210204197306230077

Ø         Mobile: 86-18604110623

Ø         Qualification: University

Ø         Working experience (s):

 

From 2009 to present, working in SC as legal representative, chairman and general manager

 

 

Peng Wei, Supervisor

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

Ø         Gender: F

Ø         Age: 35

Ø         ID# 310107197611113245

Ø         Qualification: University

 

 

 

 

 

 

BUSINESS OPERATION

 

SC’s registered business scope includes importing and exporting goods and technology.

 

SC is mainly engaged in selling minerals, chemical products, building materials.

 

SC’s products mainly include:

Borax

Boric acid

Boron

Iron ore

Bauxite

Laterite

Phosphate

Green wood products

    

SC sources its materials 70% from domestic market, and 30% from overseas market, mainly Turkey, Chile, and Argentina. SC sells 45% of its products in domestic market, and 55% to overseas market, mainly Southeast Asian market.

 

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

 

Staff & Office:

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

SC is known to have approx. 5 staff at present.

 

SC rents an area as its operating office & factory of approx. 80 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 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:

 

China Minsheng Banking Dalian Zhongshan Sub-branch

AC#: 0602014210006313

 

 

FINANCIALS

 

Financial Summary

Unit: CNY’000

As of Dec. 31, 2009

As of Dec. 31, 2010

Long term investment

0

0

Total assets

2,895

299

 

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

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

Long term liabilities

0

0

Total liabilities

2,626

80

Equities

269

219

 

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

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

Revenue

298

192

Profit before tax

-65

-50

Less: profit tax

0

0

Profits

-65

-50

 

Note: The detailed financials for Y2009 and Y2010 are not available in SAIC.

 

Important Ratios

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

 

As of Dec. 31, 2009

As of Dec. 31, 2010

*Liabilities to assets

0.91

0.27

*Net profit margin (%)

-21.81

-26.04

*Return on total assets (%)

-2.25

-16.72

* Revenue/Total assets

0.10

0.64

 

 

 

 

FINANCIAL COMMENTS

 

PROFITABILITY: POOR

l         The revenue of SC appears poor in its line.

l         SC’s net profit margin is poor.

l         SC’s return on total assets is poor.

 

LIQUIDITY: FAIR

l         SC’s revenue is in a fair level, comparing with the size of its total assets.

 

LEVERAGE: AVERAGE

l         The debt ratio of SC is low.

l         The risk for SC to go bankrupt is average.

 

Overall financial condition of the SC: FAIR.

 

 

CONCLUSIONS

 

SC is considered small-sized in its line with fair financial conditions. A credit line up to USD 1,000 would appear to be within SC’s capacities.

 

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.