MIRA INFORM REPORT
|
Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRAGS INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
Unit 2017-2018, 27/Fl. North Tower, Huacheng
International Mansion, No. 162, Wusi Road, Fuzhou City, Fujian Province
350001 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
26.09.2010 |
|
|
|
|
Com. Reg. No.: |
350100100238537 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Selling
Nonferrous Metal Materials |
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 10,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment
Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
--- |
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
prags industrial co., ltd.
unit 2017-2018,
27/fl. north tower, huacheng international mansion
no. 162, wusi road,
fuzhou city, fujian province 350001 PR CHINA
TEL: 86 (0)
591-87842502
FAX: 86 (0)
591-87842502
EXECUTIVE SUMMARY
Date of Registration : september 26, 2010
REGISTRATION NO. : 350100100238537
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 3,000,000
staff : 10
BUSINESS CATEGORY : TRADING
Revenue : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
10,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : NOT YET BE DETERMINED
OPERATIONAL TREND : ORDINARY
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 limited
liabilities company of PRC with State Administration of Industry & Commerce
(SAIC) under registration No.: 350100100238537 on September
26, 2010.
SC’s Organization Code Certificate No.:
56168591-9
.
SC’s registered capital: CNY 3,000,000
SC’s paid-in capital: CNY 3,000,000
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 |
|
Gong Yanbin |
95 |
|
Gong Jianjin |
5 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Gong Yanbin |
|
Supervisor |
Gong
Jianjin |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Gong Yanbin 95
Gong Jianjin 5
MANAGEMENT
Gong Yanbin, Legal Representative, Chairman, and General
Manager
------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working experience (s):
From 2010 to present, working in SC as legal representative,
chairman, and general manager
Gong
Jianjin, Supervisor
---------------------------------------------
Ø
Gender: M
Ø
Qualification: University
BUSINESS OPERATION
SC’s registered business scope
includes selling nonferrous metal materials, steel products,
chemicals, hardware, and groceries.
SC is
mainly engaged in selling nonferrous metal materials.
SC started its
normal business in 2011.
SC’s
products mainly include: Aluminum Product, etc.
SC sources its materials 100% from domestic
market. SC sells 30% of its products in domestic market, and 70% to overseas
market, mainly Southeast Asia.
The
buying terms of SC include T/T 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. 10 staff at present.
SC
rents an area as its operating office, but the detailed information is unknown.
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
Bank of China
AC# 411758358434
FINANCIALS
Established in 2010, SC started its normal business in 2011, so the
financials are not filed in local SAIC.
CONCLUSIONS
SC is considered small-sized in its line with
short business history. A credit line up to USD 10,000 would appear to
be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.10 |
|
UK Pound |
1 |
Rs.74.64 |
|
Euro |
1 |
Rs.64.42 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.