MIRA INFORM REPORT
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Report Date : |
30.09.2011 |
IDENTIFICATION DETAILS
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Name : |
MUDANJIANG FENGDA CHEMICAL IMP. & EXP.
CORP. |
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Registered Office : |
No. 167 Aimin Street, Xian District, Mudanjiang City, Heilongjiang Province 165000 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.01.1995 |
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Com. Reg. No.: |
231000100028927 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
importing and exporting
chemical products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 25,000 |
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Status : |
Small Company |
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Payment
Behaviour : |
Usually Correct |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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
mudanjiang fengda chemical imp. & Exp.
Corp.
no. 167 aimin street,
xian district, mudanjiang city
heilongjiang province
165000 PR CHINA
TEL: 86 (0)
453-6281887
FAX: 86 (0)
453-6289889
EXECUTIVE SUMMARY
Date of Registration : january 24, 1995
REGISTRATION NO. : 231000100028927
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 1,320,000
staff : 20
BUSINESS CATEGORY :
trading
Revenue :
CNY 144,374,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 3,535,000 (AS OF DEC. 31, 2010)
WEBSITE : www.mudanjiangchem.com
E-MAIL :
fengda@mudanjiangchem.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
25,000
MARKET CONDITION : average
FINANCIAL CONDITION : stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.40 = 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: SC is also known as Mudanjiang Fengda
Chemicals Corp.
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 231000100028927 on January 24,
1995.
SC’s Organization Code Certificate No.: 13030042-3
SC’s registered capital: cny 1,320,000
SC’s paid-in capital: cny 1,320,000
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
|
Company Name |
Mudanjiang
Import and Export Co. Fengda Chemicals Corp. |
Mudanjiang
Fengda Chemical Imp. & Exp. Corp. |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Wang Jiansheng and other 11 individuals |
100 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative,
Chairman, and General Manager |
Wang Jiansheng |
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Director |
Fang Hongxiang |
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Tang Xixian |
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Supervisor |
Liu Weizhi |
|
Mo Hongyan |
RECENT DEVELOPMENT
SC has passed through ISO9001: 2008 Quality Management
System Certification, it also has been made pre-registration of REACH for
export to Europe.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Wang Jiansheng and other 11 individuals 100
MANAGEMENT
Wang Jiansheng, Legal Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 49
Ø
ID# 231004196205180532
Ø
Qualification:
University
Ø
Working
experience (s):
From 1995
present, working in SC as legal representative, chairman and general manager
Director
-----------
Fang Hongxiang ID#
230102196503055125
Tang Xixian ID#
231003193704251614
Supervisor
--------------
Liu Weizhi ID#
231002196801272713
Mo Hongyan ID#
231003196706302028
BUSINESS OPERATION
SC’s
registered business scope includes importing and exporting various kinds of commodities
and technology, processing with imported materials, processing with imported
samples, assembling with imported parts, and compensation trade in agreement; counter trade & transit trade.
SC is mainly engaged
in importing and exporting chemical products.
SC’s
products mainly include: Oxalic Acid, Sodium Hydrosulphide, Humic Acid
series, Choline Chloride, Ferro Chrome Lignosulphonate, Calcium & Sodium
Lignosulphonate, Barium Chloride, Titanium Dioxide.
SC sources its
materials 100% from domestic market. SC sells 20% of its products in domestic
market, and 80% to overseas market, mainly Europe, America and Russia.
The buying terms of SC include Check, T/T 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. 20 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
The bank
information of SC is not filed in SAIC.
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Long term investment |
0 |
0 |
0 |
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Total assets |
13,140 |
14,800 |
22,865 |
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------------- |
------------- |
------------- |
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Long term liabilities |
0 |
0 |
0 |
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Total
liabilities |
10,180 |
11,250 |
19,330 |
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Equities |
2,960 |
3,550 |
3,535 |
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------------- |
------------- |
------------- |
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Revenue |
112,470 |
-- |
144,374 |
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Profit before
tax |
1,830 |
-- |
2,078 |
|
Less: profit tax |
450 |
-- |
520 |
|
Profits |
1,380 |
-- |
1,558 |
Note: The detailed financials for Y2008, Y2009 and Y2010 are not filed
in SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Liabilities
to assets |
0.77 |
0.76 |
0.85 |
|
*Net profit margin
(%) |
1.23 |
-- |
1.08 |
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*Return on
total assets (%) |
10.50 |
-- |
6.81 |
|
*
Revenue/Total assets |
8.56 |
-- |
6.31 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears
fairly good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is fairly good.
LIQUIDITY:
AVERAGE
l
SC’s revenue is in a
fairly good 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 average.
Overall financial
condition of the SC: Stable.
CONCLUSIONS
SC is considered small-sized in its line with
stable financial conditions. A credit line up to USD 25,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.93 |
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UK Pound |
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.65 |
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.