MIRA INFORM REPORT
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Report Date : |
30.09.2011 |
IDENTIFICATION DETAILS
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Name : |
QINGDAO UNISOURCE INTERNATIONAL TRADING CO.,
LTD. |
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Registered Office : |
Room 1604, Unite 2, No. 133 Fuzhou North
Road, Shibei District, Qingdao City, Shandong Province 266034 Pr |
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Country : |
China |
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Date of Incorporation : |
24.01.2011 |
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Com. Reg. No.: |
370203230054986 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
import and sale
of iron ore products, wood and sesame seed |
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 : |
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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
QINGDAO
UNISOURCE INTERNATIONAL TRADING CO., LTD.
ROOM 1604, unite 2,
NO. 133 FUZHOU NORTH ROAD, SHIBEI district, qingdao city, shandong PROVINCE 266034
PR CHINA
TEL: 86 (0)
532-85699680 FAX: 86 (0) 532-85699690
EXECUTIVE SUMMARY
INCORPORATION DATE : JAN. 24, 2011
REGISTRATION NO. : 370203230054986
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 5
REGISTERED CAPITAL :
CNY 2,000,000
BUSINESS LINE : TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
C.O.D.
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : SUBJECT TO LONGER PERIOD OF
OBSERVATION
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.40 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
SC was registered as a limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Jan. 24, 2011.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have pre-exemption right to
purchase shares of the co. offered for sale by the other shareholders and
to subscribe for the newly increased registered capital of the co.
SC’s registered
business scope includes goods and technology import and export business
(excluding those prohibited by the state, with permit if needed); wholesale and
retail: apparel, textiles, handicrafts, metal, steel, iron products, home,
office supplies, kitchen stove, appliances, wood (with permit if needed).
SC is mainly
engaged in the import and sale of iron ore products, wood and sesame seed.
Ms. Zhang Derong has been legal representative, chairman and general manager
of SC since 2011.
SC is
known to have approx. 5 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Qingdao. Our
checks reveal that SC rents the total premise about
110 square meters.
SC is not known to have website of its own at present.
Email: rita@chinaunisource.cn
SC was taken into operation in Sep., 2011.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhang Derong 51
Luo Donghai 49
l
Legal Representative, Chairman & General
Manager:
Ms. Zhang Derong, with university
education. She is currently responsible for the
overall management of SC.
Working Experience(s):
From 2011 to present Working in SC as legal representative, chairman and general manager.
SC is mainly
engaged in the import and sale of iron ore products, wood and sesame seed.
SC’s products
mainly include iron ore products, wood and sesame seed.
SC was taken into operation in Sep., 2011.
SC sources its materials 100%
from overseas
market, mainly Africa and the Middle East. SC
sells 100% of its products in domestic market.
The buying terms of SC include Check, L/C and Credit of 30-60
days. The payment terms of SC include Check, T/T and Credit of 30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
SC is
not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet 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’s supplier
declined to make any comment.
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.
SC’s bank detail was not found in local AIC.
Incorporated in 2011, SC has not yet submitted financials to local AIC.
SC was established at the beginning of 2011 in a small size, and its credit
has not been established yet. Credit dealings with SC should be confined into
C.O.D. at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.93 |
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UK Pound |
1 |
Rs.76.52 |
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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.