MIRA
INFORM REPORT
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Report Date : |
13.08.2012 |
IDENTIFICATION DETAILS
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Name : |
FOSHAN MONALISA INDUSTRY CO., LTD. |
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Registered Office : |
No. 16, Jiangwan 1st Road, Chancheng District, Foshan City, Guangdong Province, 528000 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
21.06.2000 |
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Com. Reg. No.: |
440600000023537 |
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Legal Form : |
One-Person Limited Liability
Company |
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Line of Business : |
Selling
Ceramic Products |
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No. of Employees : |
60 |
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 : |
Slow |
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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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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
FOSHAN MONALISA
INDUSTRY CO., LTD.
NO. 16, JIANGWAN 1ST ROAD,
CHANCHENG DISTRICT, FOSHAN CITY,
GUANGDONG PROVINCE, 528000 PR CHINA
TEL: 86 (0) 757-82700968 FAX: 86 (0) 757-82700968
EXECUTIVE SUMMARY
INCORPORATION DATE : JUN. 21, 2000
REGISTRATION NO. :
440600000023537
REGISTERED LEGAL FORM :
ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE :
MR. HUO RONGQUAN (CHAIRMAN)
STAFF STRENGTH :
60
REGISTERED CAPITAL : CNY 5,500,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 63,650,000 (AS OF DEC. 31,
2009)
EQUITIES :
CNY -12,380,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIR
OPERATIONAL TREND : FAIR
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.36 = 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 co. at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Jun. 21, 2000 and later was changed into present
ownership.
Company Status:
One-person Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes selling ceramic
products, ceramic materials, sanitary wares, packing materials, building
materials, decorative materials, general machines, hardware and chemical
materials (excluding dangerous articles); importing
and exporting commodities and technologies, excluding export commodities limited or prohibited by the state; processing
with imported materials, processing with imported samples, assembling with
imported parts, and compensation trade in agreement; counter trade & transit trade.
SC is mainly
engaged in selling ceramic products.
Mr.
Huo Rongquan is legal representative and chairman of SC at present.
SC is known to have approx. 60 employees at
present.
SC is currently operating at the above stated address, and this
address houses its operating office in Foshan. Our checks reveal that SC owns
the total premise, but the gross area of the premise is unspecified.
http://www.fs-monalisa.com
It includes the information on SC. The design is professional and the content is well
organized. At present it is in Chinese and English versions.
Changes
of its registered information are as follows:
|
Date
of change |
Item |
Before
the change |
After
the change |
|
Unknown |
Registered no. |
4406001007276 |
Present one |
|
Legal form |
Limited liabilities co. |
Present one |
|
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Shareholdings |
Xiao Hua 39.84% Huo Rongquan 18.26% Deng Qitang12.45% Zhang Qikang12.45% Other 11 individuals 17% |
Present one |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Guangdong Monalisa New
Construction Material Group Co., Ltd. 100
Registered no.: 440682000040374
Legal representative: Xiao Hua
Tel: 0757-86822683
Fax: 0757-86828138
Web: http://www.monalisa.com.cn/
Email: monalisa@monalisa.com.cn
Legal representative
and Chairman:
Mr. Huo Rongquan is
currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as chairman and legal representative.
Directors:
Xiao Hua
Zhang Qikang
Supervisor:
Zhou Yachao
SC is
mainly engaged in selling ceramic products.
SC’s products mainly include: ceramic products.
SC sources its merchandises 50% from domestic market and 50%
from overseas market. SC sells 10% of its merchandises in domestic market, and
90% to overseas 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 declined to release its major suppliers and clients.
SC is not known to have the 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.
Industrial and Commercial Bank of China
AC#2013029109024523116
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
|
as
of Dec. 31, 2008 |
as
of Dec. 31, 2009 |
|
Cash
& bank |
1,760 |
7,440 |
|
Bills
receivable |
0 |
0 |
|
Accounts
receivable |
50 |
50 |
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Other
receivables |
1,590 |
1,450 |
|
Advances to
suppliers |
0 |
0 |
|
Inventory |
450 |
890 |
|
Prepaid expenses |
110 |
110 |
|
Other
current assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Current
assets |
3,960 |
9,940 |
|
Fixed
assets net value |
15,890 |
14,640 |
|
Projects
under construction |
0 |
0 |
|
Long
term investment |
0 |
0 |
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Other
assets |
270 |
220 |
|
|
------------------ |
------------------ |
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Total
assets |
20,120 |
24,800 |
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|
============= |
============= |
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Short
loans |
6,000 |
0 |
|
Bills
payable |
0 |
0 |
|
Accounts
payable |
17,740 |
18,820 |
|
Advances from
clients |
3,430 |
15,490 |
|
Accrued
payable |
130 |
160 |
|
Tax
payable |
-1,140 |
-2,420 |
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Other
payable |
4,910 |
5,130 |
|
Surcharge
payable |
0 |
0 |
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Other
current liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
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Current
liabilities |
31,070 |
37,180 |
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Long
term liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
31,070 |
37,180 |
|
Equities |
-10,950 |
-12,380 |
|
|
------------------ |
------------------ |
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Total
liabilities & equities |
20,120 |
24,800 |
|
|
============= |
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31,
2009 |
|
Turnover |
63,650 |
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Cost of goods
sold |
51,760 |
|
Sales expense |
8,490 |
|
Management expense |
4,350 |
|
Finance expense |
350 |
|
Profit before
tax |
-1,430 |
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Less: profit tax |
0 |
|
Profits |
-1,430 |
Note: SC’s latest financial records weren’t found in local AIC.
Important Ratios
=============
|
|
as
of Dec. 31, 2008 |
as
of Dec. 31, 2009 |
|
*Current ratio |
0.13 |
0.27 |
|
*Quick ratio |
0.11 |
0.24 |
|
*Liabilities
to assets |
1.54 |
1.50 |
|
*Net profit
margin (%) |
/ |
-2.25 |
|
*Return on
total assets (%) |
/ |
-5.77 |
|
*Inventory
/Turnover ×365 |
/ |
6 days |
|
*Accounts
receivable/Turnover ×365 |
/ |
1 day |
|
*Turnover/Total
assets |
/ |
2.57 |
|
* Cost of
goods sold/Turnover |
/ |
0.81 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in
its line in 2009.
l
SC’s net profit margin is fair in 2009.
l
SC’s return on total assets is fair in
2009.
l
SC’s cost of goods sold is average,
comparing with its turnover in 2009.
LIQUIDITY:
FAIR
l
The current ratio of SC is maintained
in a poor level.
l
SC’s quick ratio is maintained in a
poor level.
l
The inventory of SC appears average.
l
The accounts receivable of SC appears
average.
l
SC has no short-term loan in 2009.
l
SC’s turnover is in an average level,
comparing with the size of its total assets in 2009.
LEVERAGE:
POOR
l
The debt ratio of SC is too high.
l
The risk for SC to go bankrupt is high.
Overall
financial condition of the SC: FAIR.
SC is considered medium-sized in its line with fair financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.43 |
INFORMATION DETAILS
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.