MIRA INFORM REPORT
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Report Date : |
09.04.2012 |
IDENTIFICATION DETAILS
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Name : |
SONGXI WANDA TRADING CO., LTD. |
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Registered Office : |
Xiangbiling Industrial Zone, |
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Country : |
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Date of Incorporation : |
23.02.2011 |
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Com. Reg. No.: |
350724100006715 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International
Trade |
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No. of Employees
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08 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Company |
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Payment
Behaviour : |
Unknown |
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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
songxi wanda trading co., ltd.
xiangbiling
industrial zone, songxi county, nanping
fujian province
353500 PR CHINA
TEL: 86 (0)
13867064888
FAX: N/A
EXECUTIVE SUMMARY
Date of Registration : fEBRUARY 23, 2011
REGISTRATION NO. : 350724100006715
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 500,000
staff : 8
BUSINESS CATEGORY : TRADING
Revenue : N/A
EQUITIES : N/A
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: c.o.d.
MARKET CONDITION : fair
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.31 = 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.: 350724100006715 on February
23, 2011.
SC’s Organization Code Certificate
No.: 56927629-8
SC’s registered capital: CNY 500,000
SC’s paid-in capital: CNY 500,000
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 |
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Bao Liling |
80 |
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Wu Mingyu |
20 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative,
Chairman, and General Manager |
Bao Liling |
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Supervisor |
Wu Mingyu |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Bao Liling 80
Wu Mingyu 20
MANAGEMENT
Bao Liling, Legal Representative, Chairman and General Manager
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Ø
Gender: F
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Wu Mingyu, Supervisor
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Ø
Gender: F
Ø
Qualification:
University
Also working in Qingyuan Best Intenerated Pencil-Wood Co., Ltd. as legal
representative
BUSINESS OPERATION
SC’s registered business scope includes
selling plastic products, clothing, footwear, pencil, intenerated plate, and chopsticks.
SC is
mainly engaged in international trade.
SC’s
products mainly include: plastic products,
clothing, footwear, pencil, intenerated plate, and
chopsticks.
SC sources its materials 100% from domestic
market, mainly Fujian and Zhejiang. SC sells 100% of its products to overseas
market, mainly Southeast Asian market.
The
buying terms of SC include T/T and Credit of 30-60 days. The payment terms of SC
include L/C and Credit of 30-60 days.
*Major Supplier:
=============
Qingyuan Best
Intenerated Pencil-Wood Co., Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 8
staff at present.
SC rents an area as
its operating office, but the detailed information is unknown.
RELATED COMPANY
n
Qingyuan Best Intenerated Pencil-Wood Co., Ltd.
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Date of Registration: July 30, 2004
Registration No.: 331126000004610
Legal Form: Limited
Liabilities Company
Registered Capital: CNY 1,100,000
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
Established as a new company in 2011, SC’s financials are not available
at present.
CONCLUSIONS
SC is considered small-sized in its line with a short history. Great
caution is required in providing credit to SC and C.O.D. is recommended.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.05 |
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UK Pound |
1 |
Rs.81.09 |
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Euro |
1 |
Rs.67.39 |
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.