MIRA INFORM REPORT
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Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
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Registered Office : |
Room 2502, Tower B, Technology Plaza, No. 417 Minzheng
Street, Shahekou District,
Dalian, Liaoning Province, 116021 Pr |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
09.09.2002 |
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Com. Reg. No.: |
210200400026065 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
trading steel & iron, chemicals,
etc. |
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No. of Employees
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06 |
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 5,000 |
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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
Dalian Free Trade Zone Tolia Trading CO., LTD.
ROOM 2502, TOWER B,
Technology Plaza, NO. 417 MINZHENG STREET,
SHAHEKOU DISTRICT,
DALIAN, Liaoning province, 116021 PR CHINA
TEL: 86 (0)
411-84518466 FAX: 86 (0)
411-84518467
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 9, 2002
REGISTRATION NO. : 210200400026065
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED
enterprise
STAFF STRENGTH : 6
REGISTERED CAPITAL :
USD 60,000
BUSINESS LINE : TRADING
TURNOVER : CNY 28,580,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 670,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 5,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : fairly
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY
6.2933 = 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 name (Tolia
Overseas) belongs to SC’s shareholder, and SC also uses it as trade name.
The given address “No. 1316
Huineng Building, F.T.Z., Dalian” was SC’s former registered address, while the
heading one is its current operating address.
SC was registered as a wholly foreign-owned enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on September 9, 2002.
Company Status: Wholly foreign-owned enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s
registered business scope includes international trade, transit trade, commodities exhibition,
trade consulting.
SC is
mainly engaged in trading steel & iron, chemicals, etc.
Mr.
Shri. Viresh. N. Tolia has been legal representative and chairman of SC since
2002.
SC is known to have approx. 6 employees at
present.
SC is currently operating at the above stated address, and this
address houses its operating office in Dalian. Our checks reveal that SC rents
the total premise, but SC’s accountant refused to release the gross area.
http://www.toliaoverseas.com
The
design is professional and the content is well organized. At present it is in both
Chinese and English versions.
Email: cindywongxy@163.com
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
2011 |
Registration no. |
010035 |
210200400026065 |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Tolia Overseas (India) 100
TOLIA OVERSEAS is a part of TOLIA GROUP OF COMPANIES engaged
in the processing and manufacturing of precision Automobile Steel Ball, and
Taper & Cylindrical Bearing Rollers.
Add: Plot No. D-4/1, Road No. 16, Wagle
Industrial Estate, Thane - 400 604, Maharashtra, INDIA
Tel.: 91-22-25820465 / 91-22-25822449
Fax: 91-22-25824013
Web: http://www.toliaoverseas.net/
Email: tolia@bom4.vsnl.net.in ; shaileshtolia@tolia.com
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Legal representative and chairman:
Mr. Shri. Viresh. N. Tolia , Indian. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 2002 to present Working in SC as chairman and legal representative.
l
General manager:
Ms. Wang Xiaoyan, in her
Working Experience(s):
At present Working in SC as general manager.
SC is mainly engaged
in trading steel & iron, chemicals, etc.
Main Products:
Export products: iron and steel, including steel bars,
wires, tubes, steel ball, machineries etc. Chemical products including Paraffin
wax, DCDA etc.;
Domestic trade products: steel ball cold heading tools (die
and punch, cutter, quill and knife, etc).
SC sources its materials 90%
from domestic market, and 10% from overseas market. SC sells 10% of its
products in domestic market, and 90% to overseas market, mainly Indian 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’s
management refused 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.
Agricultural Bank of China
AC# 262001040009723
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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As of Dec. 31, 2011 |
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Cash & bank |
190 |
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Inventory |
170 |
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Bills receivable |
0 |
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Accounts
receivable |
100 |
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Other Accounts
receivable |
320 |
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Advances to
suppliers |
3,350 |
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To be
apportioned expense |
0 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
4,130 |
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Fixed assets net
value |
20 |
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Long-term
investment |
0 |
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Intangible and
other assets |
0 |
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------------------ |
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Total assets |
4,150 |
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============= |
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Short loans |
0 |
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Accounts payable |
990 |
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Advance from
customers |
1,410 |
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Accrued payroll |
20 |
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Other Accounts
payable |
1,620 |
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Notes payable |
0 |
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Taxes payable |
-560 |
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Withdraw the
expenses in advance |
0 |
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Other current
liabilities |
0 |
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3,480 |
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Long term
liabilities |
0 |
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Other
liabilities |
0 |
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Total
liabilities |
3,480 |
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Equities |
670 |
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4,150 |
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============= |
Income Statement
Unit: CNY’000
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As of Dec. 31, 2011 |
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Turnover |
28,580 |
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Cost of goods sold |
24,010 |
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Sales expense |
3,760 |
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Management expense |
550 |
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Finance expense |
100 |
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Non-operating
income |
20 |
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Non-operating expense |
0 |
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Profit before
tax |
180 |
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Less: profit tax |
10 |
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Profits |
170 |
Important Ratios
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As
of Dec. 31, 2011 |
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*Current ratio |
1.19 |
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*Quick ratio |
1.14 |
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*Liabilities
to assets |
0.84 |
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*Net profit
margin (%) |
0.59 |
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*Return on
total assets (%) |
4.10 |
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*Inventory
/Turnover ×365 |
3 days |
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*Accounts
receivable/Turnover ×365 |
2 days |
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*Turnover/Total
assets |
6.89 |
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* Cost of
goods sold/Turnover |
0.84 |
PROFITABILITY:
AVERAGE
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The turnover of SC appears average in its line.
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SC’s net profit margin is average.
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SC’s return on total assets is average.
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SC’s cost of goods sold is average, comparing with
its turnover.
LIQUIDITY: AVERAGE
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The current ratio of SC is maintained in a normal
level.
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SC’s quick ratio is maintained in a normal level.
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The inventory of SC is average.
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The accounts receivable of SC is maintained in an
average level.
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SC has no short-term loan in 2011.
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SC’s turnover is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable financial
conditions. A credit line up to USD 5,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.42 |
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UK Pound |
1 |
Rs.81.93 |
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Euro |
1 |
Rs.67.67 |
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.