MIRA INFORM REPORT
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Report Date : |
02.04.2012 |
IDENTIFICATION DETAILS
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Name : |
RICHENG FOODSTUFF MACHINERY CO., LTD. |
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Registered Office : |
Jiangyi Industrial Zone, |
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Country : |
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Date of Incorporation : |
20.10.2000 |
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Com. Reg. No.: |
4406812114004 |
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Legal Form : |
Sole Proprietorship Enterprise |
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Line of Business : |
manufacturing, processing
and selling machinery equipment |
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No. of Employees
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30 |
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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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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 – 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
Richeng Foodstuff Machinery Co., Ltd.
JIANGYI INDUSTRIAL
ZONE, LELIU TOWN, SHUNDE DISTRICT,
FOSHAN, GUANGDONG
PROVINCE, 528322 PR CHINA
TEL: 86 (0)
757-25666837 FAX: 86
(0) 757-25668837
EXECUTIVE SUMMARY
INCORPORATION DATE : OCT. 20, 2000
REGISTRATION NO. : 4406812114004
REGISTERED LEGAL FORM : Sole Proprietorship
enterprise
STAFF STRENGTH :
30
REGISTERED CAPITAL :
CNY 90,000
BUSINESS LINE : MANUFACTURING and
processing
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : SMALL AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
FAIRLY steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.30 = 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 sole proprietorship enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Oct. 20, 2000.
Company Status: Sole Proprietorship enterprise This form of business in PR
China is a private enterprise formed by an individual, which does not have
the legal person or limited liability status. The co. is solely operated by
the sole investor who is responsible for all risks & liabilities of the
co.
SC’s registered
business scope includes processing, manufacturing and selling packaging
machine, biscuits sandwich machine, hardware miscellaneous accessories.
SC is mainly
engaged in manufacturing, processing and selling machinery equipment.
Mr. Liao
Qicheng is the
factory manager of SC at present.
SC is
known to have approx. 30 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the industrial zone of
Foshan. The detailed
premise information is unknown.
http://www.ri-cheng.com.cn/ The design is professional and the content is
well organized. At present it is in Chinese and English versions.
E-mail: info@ri-cheng.com.cn
No significant events or changes were found during our
checks with the local AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Liao Qicheng 100
l
Factory Manager:
Mr. Liao Qicheng is currently responsible for
the overall management of SC.
Working Experience(s):
At present Working
in SC as factory manager
SC is mainly
engaged in manufacturing, processing and selling machinery equipment.
SC’s products
mainly include packaging machine, biscuits sandwich machine, etc.
SC sources its materials 50% from
domestic market and 50% from overseas market. SC sells 60% of its products in
domestic market and 40% to overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
Note:
SC declined to release its major suppliers and clients.
According
to SC’s website:
Marketing
Department
Contact
person: Mr. Gordon Liao
Mobile:
+86-13703082992
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 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.
SC’s
management refused to release the bank details.
As a sole proprietorship enterprise, SC is not required to submit its
finance information to the local AIC, so its financial reports are not
available at present.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a development history of
12 years. Credit dealings with SC are recommended in small amount 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.51.16 |
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UK Pound |
1 |
Rs.81.72 |
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Euro |
1 |
Rs.68.34 |
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.