MIRA
INFORM REPORT
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Report Date : |
30.04.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Date of Incorporation : |
23.06.2001 |
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Com. Reg. No.: |
320200000117891 |
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Legal Form : |
Limited Liabilities Co |
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Line of Business : |
Trading of Chemical Products |
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No. of Employees : |
300 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 – September 30, 2011
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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
Jiangsu New Century Salt Chemical Group Co.,
Ltd.
No. 99 Tonggang Road, Dagang Town, New
District,
ZheNjiang, Jiangsu PROVINCE, 212132 PR CHINA
TEL: 86 (0) 0511-85572211/85576673 FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : JUN. 23, 2001
REGISTRATION NO. : 320200000117891
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. li han (CHAIRMAN)
STAFF STRENGTH :
300
REGISTERED CAPITAL : cny 265,200,688
BUSINESS LINE :
trading
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.28 = 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 correct English name should be the heading one.
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 Jun. 23, 2001
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 permit business scope:
wholesaling of dangerous chemicals (hazardous chemicals business license listed
in the project management). general: operation and management of assets,
capital; selling of chemical products and raw materials (excluding dangerous
chemicals), hardware, metal and metal ores, general-purpose machinery and
parts, electrical machinery and equipment, building materials, cosmetics,
health supplies; retailing of industrial salt; property management and
services; importing & exporting and acting as an agent of all kinds of
goods and technology (excluding those refined and prohibited by the state).
SC is mainly engaged in trading of chemical products.
Mr. Li Han is legal representative and chairman of SC at present.
SC is known to have approx. 300 employees at present.
SC is currently operating at the above stated address, and this address houses
its operating office in Zhenjiang. Our checks reveal that SC owns the total
premise, but the detailed information of the premise is unspecified.
http://www.jsncsc.com/
The design is professional and the content is well organized. At present it is
in Chinese version.
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Chen Jinlong 0.08
Cheng Xi 0.2
Hui Yongxi 2.1
Jiangsu Salt Industry (Group) Co., Ltd. 72
Liu Lian 0.17
Nanjing Chenghang Chuangfu Investing
Enterprise (Limited Partnership) (literal translation) 10.36
Ningbo Jiuxing Trading Co., Ltd. (literal translation) 2.64
Shanghai Yangheng Industry Investment Co., Ltd. (literal translation) 11.05
Xiao Ming 1.4
Jiangsu Salt
Industry (Group) Co., Ltd.
============================
Registration No.: 320000000000310
Tel: 025-86216684
Fax: 025-86216694
Nanjing Chenghang
Chuangfu Invested Enterprise (Limited Partnership) (literal translation)
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Registration No.: 320100000151097
Ningbo Jiuxing
Trading Co., Ltd. (literal translation)
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Registration No.: 330226000076020
Incorporation Date: Sep. 8, 2005
Chairman: Hu Xiaowei
Registered Capital: CNY 1,840,000
Shanghai Yangheng
Industry Investment Co., Ltd. (literal translation)
==================================================
Registration No.: 310115001799886
Chairman: Liu Qing
Registered Capital: CNY 34,501,320
Legal Representative and Chairman:
Mr. Li Han, born in 1962, he is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as
legal representative and chairman.
Also working in Jiangsu New Century Salt Chemical Group Co., Ltd. Wuxi
Branch as principal.
General Manager:
Mr. Hui Yongxi, born in 1946, he is currently responsible for the daily
management of SC.
Working Experience(s):
At present Working in SC as
general manager.
Supervisor:
Hu Yuchen, born in 1981.
SC is mainly engaged in trading of chemical products.
SC’s products mainly include: Synthetic hydrochloric acid / food grade
hydrochloric acid, 30% of diaphragm caustic soda, 50% of ionic membrane caustic
soda, 30% of ionic membrane caustic soda, Liquid chlorine,
Chlorinated benzenes, Chloroacetic acid, Trichlorethylene, Methane Chloride,
Organic chemical products, etc.
SC sources its materials 100% from domestic market. SC sells 90% of its
products in domestic market, and 10% to overseas market.
The buying terms of SC include Check, T/T 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 declined to release its major clients and suppliers.
According to SC’s
website:
Jiangsu Greenapple Chemical Industry Co., Ltd.
Jiangsu Dongtai Fine Chemicals Co., Ltd. (literal translation)
Etc.
Branch and
subsidiary:
Jiangsu New Century Salt Chemical Group Co., Ltd. Wuxi Branch
Jiangsu New Century Salt Chemical Group Chemical Logistics Co., Ltd.
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.
No bank information was found during our checks with the local
Administration for Industry and Commerce. And SC declined to release its
banking details.
Investigations were made with the local AIC, but the financial records
were not available.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with 11 years operation
history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.68 |
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1 |
Rs.85.12 |
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Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
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Report Prepared
by : |
SDA |
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.