MIRA INFORM REPORT
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Report Date : |
22.10.2011 |
IDENTIFICATION DETAILS
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Name : |
HAI QI STEEL INTERNATIONAL CO., LTD. |
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Registered Office : |
12h, Xinmei Mansion, No. 585 Tianmu Zhong
Road, Shanghai 200070 Pr |
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Country : |
China |
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Date of Incorporation : |
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Com. Reg. No.: |
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Legal Form : |
--- |
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Line of Business : |
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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 : |
Registered in British Virgin Islands |
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Payment
Behaviour : |
--- |
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Litigation : |
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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
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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 & address
hai qi steel international co., ltd.
12h, xinmei mansion,
no. 585 tianmu zhong road
shanghai 200070 pr
china
TEL: 86 (0) 21-31750979/18621118600
FAX: 86 (0) 21-31750979
NARRATIVE
REPORT
This refers to a type of report whose format is different from that of a
standard report. Such type of report is provided when:
l
Information obtained is insufficient for compiling
a standard report.
l
The enquired co has been out of business or its
business address has been untraceable.
It should be noted that the time and manpower spent on preparing such type
of report might be greater than those on a standard report. On many occasions,
the information in this type of report still indicates the current status of
the enquired co. and serves as a useful reference to assess its credit
standing.
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Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
CHECK ON SC’S REGISTERED
TELEPHONE LINE
²
The
given mobile phone number is as follows,
TEL: 86 (0)
18621118600
When we dialed the above telephone number, a gentleman James (the given
contact person) answered the phone. He admitted the English name, and told us
there is no Chinese name, and SC is registered in British Virgin Islands
(B.V.I.), but mainly operating in Shanghai, PRC China.
²
Mr. James
introduced the below information,
======================================
A.
SC is mainly engaged in exporting steel
tubes.
B.
SC registered in B.V.I., which
facilitates its exporting business.
C.
His contact ways are: Tel. No.: 86 (0)
21-63936338, and the e-mail is James@haiqisteel.com.
D.
SC has some famous suppliers, such as
Haitai Steel Tube (Group), Shanghai Baosteel, etc.
E.
SC sources its materials 100% from
domestic market, mainly Shanghai, and SC sells 100% of its products to overseas
market, mainly India.
OPERATION FROM INTERNET
We found SC’s website www.haiqisteel.com
==================================
The
products mainly include:
Seamless steel tube
Stainless steel tube
Alloy steel tube
Erw Pipe
Square tube
Etc.
SPOT VISIT
12h, Xinmei
Mansion, No. 585 Tianmu Zhong Road, Shanghai 200070 PR China
Mr. James admitted this address, and told us that they used this address
for receiving bills.
REGISTRATION
Since it is a practice for a company in China to register in State Administration of Industry and Commerce (SAIC) with a total set of required documents in CHINESE, we are unable to find its in Shanghai Municipal SAIC according to its English name.
CONCLUSIONS
Based on
the investigations performed, it has not been possible to prepare a normal
credit report on SC. Given the circumstances, caution is advised related to
dealings with persons claiming to represent such an entity.
Additional information:-
We contacted subject company again, the gentleman James told us there is
a logistic company locates in the given address, they used this address for
receiving bills.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.07 |
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UK Pound |
1 |
Rs.79.16 |
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Euro |
1 |
Rs.69.04 |
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.