MIRA INFORM REPORT

 

 

Report Date :

16.08.2012

 

IDENTIFICATION DETAILS

 

Name :

LIMAC CORPORATION

 

 

Registered Office :

No. 3 Minzhu Square, Zhongshan District, Dalian Liaoning Province 116001 Pr

 

 

Country :

China

 

 

Date of Incorporation :

29.09.1993

 

 

Com. Reg. No.:

210200000128129

 

 

Legal Form :

Shares Limited Company

 

 

line of business :

Processing and Manufacturing machinery industrial investment and management

 

 

No. of Employees :

150

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company Name

 

sc’s INFO.:

================

LIMAC CORPORATION

NO. 3 MINZHU SQUARE, ZHONGSHAN DISTRICT, DALIAN

LIAONING PROVINCE 116001 PR CHINA

TEL: 86 (0) 411-82827777

FAX: 86 (0) 411-82640668

 

 

EXECUTIVE SUMMARY

 

Date of Registration          : september 29, 1993

REGISTRATION NO.                  : 210200000128129

LEGAL FORM                           : Shares limited COMPANY

CHIEF EXECUTIVE                    : WU YAN (LEGAL REPRESENTATIVE)

REGISTERED CAPITAL             : cny 100,000,000

staff                                      : 150

BUSINESS CATEGORY             : trade and management

Revenue                                : N/A

EQUITIES                                 : N/A

WEBSITE                                 : www.limac.cn

E-MAIL                                     : limac@limac.cn

PAYMENT                                : AVERAGE

MARKET CONDITION                : COMPETITIVE

FINANCIAL CONDITION             : N/A

OPERATIONAL TREND  : STEADY

GENERAL REPUTATION           : AVERAGE

EXCHANGE RATE                     : CNY 6.36 = USD

 

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 shares limited company of PRC with State Administration of Industry & Commerce (SAIC) under registration No.: 210200000128129 on September 29, 1993.

 

SC’s Organization Code Certificate No.: 70179371-X

SC’s registered capital: cny 100,000,000

 

SC’s paid-in capital: cny 100,000,000

 

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

Dalian Xinda Investment Co., Ltd.

29.5

Zhejiang Zhongling Investment Co., Ltd.

18.9

Yu Zhilin

15.1

Limac Corporation Labor union

10.0

Yingkou Jiade Technology Co., Ltd.

9.5

Liaoning Limeng State-owned Assets Management Co., Ltd.

9.0

Dalian Shuangruo Dehong Investment Advisory Co., Ltd.

8.0

 

SC’s Chief Executives:-

 

Position

Name

Legal Representative, Chairman, and General Manager

Wu Yan

Deputy General Manager

Du Jianyi

 

 

RECENT DEVELOPMENT

 

No recent development was found during our checks at present.

 

 

SHAREHOLDER CHART & BACKGROUND

 

 

Name                                                                          % of Shareholding

 

Dalian Xinda Investment Co., Ltd                                     29.5

 

Zhejiang Zhongling Investment Co., Ltd.                                       18.9

 

Yu Zhilin                                                                                    15.1

 

Limac Corporation Labor union                                                    10.0

 

Yingkou Jiade Technology Co., Ltd.                                             9.5

 

Liaoning Limeng State-owned Assets Management Co., Ltd.         9.0

 

Dalian Shuangruo Dehong Investment Advisory Co., Ltd.               8.0

 

 

Zhejiang Zhongling Investment Co., Ltd.

=================================

Date of Registration: February 25, 2009

Registration No.: 330181000111712

Legal Form: Limited Liabilities Company

Chief Executive: Yu Fei

Registered Capital: CNY 60,000,000

 

 

 

 

MANAGEMENT

 

Wu Yan, Legal Representative, Chairman and General Manager

--------------------------------------------------------------------------------------------

Gender: M

Age: 55

Qualification: University

Working experience (s):

 

At present, working in SC as legal representative, chairman and general manager

Also working in Shenyang Hejin Holding Investment Co., Ltd. as legal representative and chairman

 

Du Jianyi, Deputy General Manager

-----------------------------------------------------------

Gender: M

Age: 38

Qualification: University

Working experience (s):

 

At present, working in SC as deputy general manager

Also as director of Shenyang Hejin Holding Investment Co., Ltd.

 

 

BUSINESS OPERATION

 

SC’s registered business scope includes processing and manufacturing machinery; industrial investment and management; storage and transportation business; tourism information and economic information consultation; rental housing; agricultural acquisition; operating and acting as an agent of importing and exporting various kinds of commodities and technology; 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 international trade, investment and management its subsidiary.

 

SC’s products mainly include:

Nuclear Project and Equipments of Nuclear Power Plant

The Standard Products of Machinery and Power-Generating Equipment

The Pressure Vessels and Complete Set of Equipments

The Electro motion Instruments and Garden Machines

Etc.

 

SC sources its materials 80% from domestic market, mainly Liaoning, 20% from overseas market. SC sells 60% of its products in domestic market, and 40% to overseas market, mainly USA, Europe, Mid East, Southeast Asia, etc.

 

The buying terms of SC include Check, T/T, L/C 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. 150 staff at present.

 

SC owns an area as its operating office, but the detailed information is unknown.

 

 

RELATED COMPANY

 

SC is known to have 16 subsidiaries at present, and the following are the major ones.

 

Shenyang Hejin Holding Investment Co., Ltd.

 

Shenyang Alloy Material Co., Ltd.

 

Suzhou Murray Machinery Manufacturing Co., Ltd.

 

Dalian Baoyuan Nuclear Equipment Co., Ltd.

 

Dalian Sanhe Machinery Manufacturing Co., Ltd.

 

523 Mechanical &Electronic Equipment Installation Co., Ltd.

 

Dalian Limac Mining Development Co., Ltd.

 

Kuandian Sanyi Copper, Gold And Molybdenum Mining Co., Ltd.

 

Kuandian Sanding Boron Mining Co., Ltd.

 

Dalian Dianye Real Estate Co., Ltd.

 

Dalian Baoyuan Harbor Affairs Co., Ltd.

 

Dalian Zhengxing Jianye Commercial & Trading Co., Ltd.

 

Beijing Limac Technology Co., Ltd.

 

Beijing Yuancheng Tonghua Automation Equipment Co., Ltd.

 

Etc.

 

 

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

 

The bank information of SC is not filed in SAIC.

 

 

FINANCIALS

 

The financials of SC is not available in local SAIC, and SC also refused to release the details.

 

 

CONCLUSIONS

 

SC is considered large-sized in its line with a development history of 19 years.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.64

UK Pound

1

Rs.87.31

Euro

1

Rs.68.81

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

----

NB

New Business

----

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.