MIRA INFORM REPORT
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Report Date : |
10.04.2012 |
IDENTIFICATION DETAILS
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Name : |
CHONGQING JIAMU MACHINERY CO., LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
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Com. Reg. No.: |
500113000005699 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
manufacturing and selling general machinery |
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No. of Employees
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130 |
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 – 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
Chongqing Jiamu Machinery Co., Ltd.
NO. 2 AOKANG ROAD,
BICHENG STREET, BISHAN COUNTY,
CHONGQING, 402760
PR CHINA
TEL: 86 (0)
23-41442127/41442122 FAX: 86 (0)
23-41442121
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 27, 2004
REGISTRATION NO. : 500113000005699
REGISTERED LEGAL FORM : LIMITED LIABILITIES
COMPANY
STAFF STRENGTH :
130
REGISTERED CAPITAL : CNY 6,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.31 = 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 Apr. 27, 2004.
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 general machinery, universal gasoline engine,
automotive spare parts (excluding engines), motorcycle parts (excluding engines)
manufacturing, processing, sales; import and export goods.
SC is mainly
engaged in manufacturing and selling general machinery.
Mr. Zhang Ping’an
is chairman of SC at present.
SC is known to
have approx. 130 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 Bishan County. Detailed
premise information is not available.
http://www.cqjiamu.cn The design is professional and the content is
well organized. At present it is both English and Chinese versions.
E-Mail: info@jiamugroup.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhang Ping’an 70
He Qingyun 30
Chairman and General
Manager:
Mr. Zhang Ping’an, with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as chairman and general
manager.
SC is mainly
engaged in manufacturing and selling general machinery.
SC’s main products
include: rotary tillers, cultivators and water pumps.
SC sources its materials 90% from domestic
market and 10% from the overseas market, mainly Europe. SC sells 80% of its
products in domestic market, and 20% to overseas market, mainly Southeast Asia.
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 and Credit of 30-60 days.
Note: SC’s management declined to release its main 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 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
declined to release its bank details.
SC’s financial reports were not found during our checks with local AIC.
SC’s management declined to release its financial reports.
SC is considered small-sized in its line with 8 years operating history.
A credit line of small amount can be considered for it 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.51.28 |
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UK Pound |
1 |
Rs.81.38 |
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Euro |
1 |
Rs.67.01 |
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.