MIRA INFORM REPORT
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Report Date : |
09.04.2012 |
IDENTIFICATION DETAILS
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Name : |
WENZHOU OUNUO PACKING MACHINERY CO., LTD. |
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Registered Office : |
No. 6, Yongfeng Road, Zhengsan Industrial Zone, Zhenglou Town, Pingyang County, Wenzhou, Zhejiang Province 325207 Pr |
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Country : |
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Date of Incorporation : |
27.10.2010 |
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Com. Reg. No.: |
330326000052231 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
manufacturing and
selling packing machinery |
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No. of Employees
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50 |
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 : |
Small Company |
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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 – 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
WENZHOU
OUNUO PACKING MACHINERY CO., LTD.
NO. 6, YONGFENG
ROAD, ZHENGSAN INDUSTRIAL ZONE, ZHENGLOU TOWN, PINGYANG COUNTY, WENZHOU,
ZHEJIANG PROVINCE 325207 PR CHINA
TEL: 86 (0) 13282703060 FAX:
86 (0) 577- 63708850
EXECUTIVE SUMMARY
INCORPORATION DATE : OCT. 27, 2010
REGISTRATION NO. :
330326000052231
REGISTERED LEGAL FORM : LIMITED
LIABILITIES CO.
STAFF STRENGTH :
50
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A (AS
OF DEC. 31, 2010)
EQUITIES :
N/A (AS
OF DEC. 31, 2010)
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
Note: The given address “Doubei Economic Development Zone, Gexiang Town, Ruian City 325200 Wenzhou Zhejiang China” was SC’s former address and the current address should be the heading one; SC is also known as Wenzhou Ounuo Machinery Co., Ltd.
SC was registered as a Limited liabilities co. at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Oct. 27, 2010.
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 manufacturing and
selling packing machinery, plastic machinery and other machinery; import and
export business.
SC is mainly engaged in manufacturing and
selling packing machinery.
Mr. Ou
Xicong is the legal representative, chairman and general manager of SC at
present.
SC is
known to have approx. 50 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 Wenzhou. The detailed premise information is unknown.
http://www.wzonjx.com/ The design is professional and the content is
well organized. At present the web site is in Chinese and English versions.
Email: Mr_huang_good@163.com
No significant events or changes were found during our checks
with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name
% of Shareholding
Ou Xicong 30
Cai Wenwen 70
l
Legal Representative, Chairman and General Manager:
Mr. Ou Xicong , with university education. He
is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman and general manager.
l
Supervisor:
Cai Wenwen
SC is mainly engaged in manufacturing and selling packing machinery.
SC’s products mainly include: non
woven bag making machine, rotogravure printing machine, film blowing machine,
etc.
SC sources its materials 60% from
domestic market and 40% from overseas market. SC sells 70% in domestic market
and 30% 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 T/T,
L/C, Check and Credit of 30-60 days.
Note:
SC declined to release its major suppliers and clients.
According to http://www.wzonjx.com/
Chengdu
Office
Tel:
13666188585
Wuhan
Office
Tel:
13886122587
Etc.
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.
The banking
information of SC is unknown.
SC’s management declined to release any financial information.
Investigations were made with the local AIC, but the financial records
were not available.
SC is considered small-sized in its line with a short history. Due to
lack of financial status, we are unable to recommend accurate credit limit for
SC.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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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.