MIRA
INFORM REPORT
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Report Date : |
10.08.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
GUANGZHOU XINHUADING GARMENT LTD. |
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Registered Office : |
No. 2 Building A, Maoshan Road, Xinyin Industrial Zone,
Xintang Town, Zengcheng, Guangzhou, Guangdong Province, 511340 Pr |
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Country : |
China |
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Date of Incorporation : |
13.07.2012 |
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Com. Reg. No.: |
440125000100454 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
wholesaling & retailing apparel, garment accessories |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New company |
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Payment Behaviour : |
Unknown |
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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
GUANGZHOU
XINHUADING GARMENT LTD.
no. 2 building a, maoshan
road, xinyin industrial zone, xintang town, zengcheng, guangzhou, guangdong
province, 511340 PR CHINA
TEL: 86 (0)
20-82670866 FAX: 86 (0)
20-82688228
EXECUTIVE SUMMARY
INCORPORATION DATE : july 13, 2012
REGISTRATION NO. : 440125000100454
REGISTERED LEGAL
FORM : Limited liabilities company
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
TRADING
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : SUBJECT TO
LONGER PERIOD OF OBSERVATION
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.3694 = 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 company (Huading Industry Co Ltd.) is SC’s related company registered in Hong Kong.
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 July 13,
2012.
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 wholesaling & retailing apparel, garment
accessories, buttons, belts, zippers, and listing.
According to SC’s
employee, SC’s main business is wholesaling & retailing apparel, garment
accessories.
Jiang Xiaoyan has been legal representative and chairman of
SC since 2012.
SC is known to
have approx. 10 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the industrial zone of Guangzhou. Detailed premise
information is not available at present.
http://www.huading.info/ The website belongs to Huading Industry Co.,
Ltd. The design is professional and the content is well organized. At present
it is in both Chinese and English versions.
Email: ice@huading.info
No significant events or changes were found during our checks with local
AIC.
Note: The information on SC’s shareholders
is not available at present.
Legal
representative and chairman:
Jiang Xiaoyan is
currently responsible for the overall management of SC.
Working Experience(s):
From 2012 to present Working in SC as legal representative and chairman.
According to SC’s employee, SC’s main business is wholesaling & retailing apparel, garment accessories.
SC’s products mainly include: button, snap, rivet, claw nail, eyelet,
diamond rivet, zipper, hand tag, waist patch, belt and so on.
SC sources its materials 100% from domestic
market. SC sells 70% of its products in domestic market, and 30% 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 refused to release its major clients and suppliers.
According
to the above website:
India
office
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Add
(India): 3, Mahatma Jyotiba Phule Sadan, S.B. Pawar Road,
Near
Lower Parel (E), Curry Road (W), Mumbai-400 013, India.
Tel/Fax:
+91 22 23002157
Huading Industry Co., Limited (Hong Kong)
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 declined to release
its banking details.
As a new company established on July 13, 2012, SC’s financial
information is not available in local AIC.
SC was established recently in a small size.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.17 |
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UK Pound |
1 |
Rs.86.43 |
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Euro |
1 |
Rs.68.27 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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.