MIRA INFORM REPORT
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Report Date : |
10.04.2012 |
IDENTIFICATION DETAILS
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Name : |
GUANGXI THANGLONG INVESTMENT CO., LTD. |
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Registered Office : |
Room 812, Building C, |
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Country : |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
19.01.2010 |
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Com. Reg. No.: |
450000200021162 |
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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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05 |
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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Maximum Credit Limit : |
usd 10,000 |
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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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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
guangxi ThAnglong investment co., ltd.
room 812, building c,
zhongding wanxiang plaza
no. 141 minzu avenue,
nanning city, guangxi 530000 PR CHINA
TEL: 86 (0)
771-5868721
FAX: 86 (0)
771-4920191
EXECUTIVE SUMMARY
Date of Registration : JANUARY 19, 2010
REGISTRATION NO. : 450000200021162
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
CNY 10,000,000
staff : 5
BUSINESS CATEGORY :
TRADING
Revenue : CNY 0 (AS OF
SEP. 30, 2011)
EQUITIES : CNY 9,838,000 (AS OF
SEP. 30, 2011)
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: up to usd
10,000 (PERIODICAL REVIEW)
MARKET CONDITION : fair
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND :
currently remains to observe
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.: 450000200021162 on January 19, 2010.
SC’s Organization Code Certificate
No.: 69986666-7
SC’s Tax No.: 450100699866667
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 10,000,000
Registration Change Record:
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 |
|
Zou Xinxin and other
individual |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman,
and General Manager |
Zou
Xinxin |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Zou Xinxin and other individual 100
MANAGEMENT
Zou
Xinxinn Legal
Representative, Chairman and General Manager
---------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2010 to present, working in SC as legal representative, chairman and general manager
Also working in Guangxi Nanya Trading Co., Ltd. as legal representative
BUSINESS OPERATION
SC’s registered business scope includes investment for real
estate, agriculture, traffic road, municipal facilities, ports, mining,
industrial parks, commerce, vehicle, ship, hotel, tourism, education, culture,
food, hospitals, and welfare; communication network technology development;
real estate development and operation; consulting services for corporate
mergers & acquisitions, asset management, corporate planning; replacement
property; model agency services, exhibition services; purchasing and selling
agricultural & sideline products, mechanical & electrical products,
mechanical equipment, building materials, and chemical products; and
international trade.
SC started its
normal business in December 2011.
SC is
mainly engaged in international trade.
SC’s
products mainly include: agricultural products, etc.
SC sources its materials 100% from domestic
market. SC sells 70% of its products in domestic market, and 30% to overseas
market, mainly Vietnam, Kampuchea, Burma, Malaysia, India, etc.
The
buying terms of SC include T/T and Credit of 30-60 days. The payment terms of
SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 5
staff at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
n
Guangxi
Nanya Trading Co., Ltd.
===========================
Registration
No.: 450100200017293
Date of
registration: March 18, 2008
Legal
Form: Limited Liabilities Company
Registered
Capital: CNY 20,000,000
Legal
Representative: Zou Xinxin
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
Basic Bank
Agricultural
Bank of China Nanning Nanhu Sub-branch
AC#:
012101040037592
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Sep. 30, 2011 |
|
1 |
3 |
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Accounts
receivable |
0 |
0 |
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Advances to
suppliers |
1,000 |
0 |
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Other receivable |
10,000 |
10,000 |
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Inventory |
0 |
885 |
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Prepaid
expenses |
0 |
0 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
11,001 |
10,888 |
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Fixed assets |
0 |
0 |
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Long-term
prepaid expenses |
0 |
0 |
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Deferred income
tax assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
11,001 |
10,888 |
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============= |
============= |
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Short-term loans |
1,000 |
1,000 |
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Notes payable |
0 |
0 |
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Accounts payable |
52 |
0 |
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Taxes payable |
0 |
-115 |
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Advances from
clients |
0 |
0 |
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Other payable |
0 |
165 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
1,052 |
1,050 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
1,052 |
1,050 |
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Equities |
9,949 |
9,838 |
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------------------ |
------------------ |
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Total
liabilities & equities |
11,001 |
10,888 |
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============= |
============= |
Income Statement
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Unit: CNY’000 |
As
of Sep. 30, 2011 |
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Revenue |
0 |
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Cost of sales |
0 |
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Sales expense |
0 |
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Management expense |
66 |
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Finance expense |
45 |
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Profit before
tax |
-111 |
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Less: profit tax |
0 |
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-111 |
Important Ratios
=============
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As
of Dec. 31, 2010 |
As
of Sep. 30, 2011 |
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*Current ratio |
10.46 |
10.37 |
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*Quick ratio |
10.46 |
9.53 |
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*Liabilities
to assets |
0.10 |
0.10 |
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*Net profit
margin (%) |
-- |
-- |
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*Return on total
assets (%) |
-- |
-1.02 |
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*Inventory /
Revenue ×365 |
-- |
-- |
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*Accounts
receivable/ Revenue ×365 |
-- |
-- |
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*
Revenue/Total assets |
-- |
-- |
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* Cost of
sales / Revenue |
-- |
-- |
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with
fair financial conditions and short business history. A credit line at the above amount appears beyond SC’s
capacities, a credit line up to USD 10,000
would appear to be within SC’s capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
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.