MIRA
INFORM REPORT
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Report Date : |
16.08.2012 |
IDENTIFICATION DETAILS
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Name : |
SANMUSE INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
Room 1807, Jiading Building, No. 382 Tacheng Road, Jiading
District Shanghai 201800 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
22.10.2007 |
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Com. Reg. No.: |
310114001836828 |
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Legal Form : |
One-Person Limited Liability Company |
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line of business
: |
Subject is engaged in international trade mainly include PPR Pipe, PPR
Fittings PPR /PVC Valves, Tools and Welding machines, PPR Antibacterial Pipe and fittings, PPR Stable Composite Pipe |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Poor |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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) |
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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 and Address
sc’s INFO.:
================
SANMUSE INTERNATIONAL TRADE CO., LTD.
ROOM 1807, JIADING BUILDING, NO. 382 TACHENG ROAD, JIADING
DISTRICT
SHANGHAI 201800 PR CHINA
TEL: 86 (0) 21-39556810
FAX: 86 (0) 21-36398512
EXECUTIVE SUMMARY
Date of Registration : october 22, 2007
REGISTRATION NO. : 310114001836828
LEGAL FORM : One-person Limited Liability Company
CHIEF EXECUTIVE :
yu zhen (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny 500,000
staff :
2
BUSINESS CATEGORY : trading
Revenue :
CNY 0 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 438,000 (AS OF DEC. 31, 2011)
WEBSITE : www.sanmuse.com
E-MAIL :
sales@sanmuse.com
PAYMENT :
AVERAGE
MARKET CONDITION : poor
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : CURRENTLY REMAINS TO BE OBSERVED
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.37 = 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 one-person limited liability company of PRC with
State Administration of Industry & Commerce (SAIC) under registration No.:
310114001836828 on October 22, 2007.
SC’s Organization Code Certificate No.:
66779017-8
SC’s Tax No.: 310114667790178
SC’s registered capital: cny 500,000
SC’s paid-in capital: cny 500,000
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 |
|
Yu Zhen |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Yu Zhen |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Yu Zhen 100
MANAGEMENT
Yu Zhen, Legal Representative, Chairman and General
Manager
--------------------------------------------------------------------------------------------
Gender: F
Qualification: University
Working experience (s):
From 2007 to present, working in SC as legal representative, chairman
and general manager
BUSINESS OPERATION
***Note: SC has no
business in 2011.
SC’s registered business scope includes selling
mechanical and electrical hardware, electrical and mechanical equipment and
accessories, auto accessories, computers, software and auxiliary equipment,
chemical products, daily, needle textiles, household electrical appliances,
plastic products, entertainment equipment, glass products, electrical
equipment, packaging materials, sporting goods, office supplies, jewelry,
gifts, toys, clothing and footwear, photographic equipment, electronic
products, communications equipment and related products, furniture, timber,
building materials, bathroom appliances, lighting equipment, instruments and meters,
wire and cable, bearings and accessories, class I of medical equipment;
importing and exporting goods and technology, business consulting, business
services.
SC is mainly engaged in international trade.
SC’s products mainly include:
PPR Pipe
PPR Fittings
PPR /PVC Valves, Tools and Welding machines
PPR Antibacterial Pipe and fittings
PPR Stable Composite Pipe
SC sources its materials 100% from domestic market, mainly Shanghai. SC sells 100% of its products to overseas market, mainly Europe, Mid East, Southeast Asia, etc.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include L/C and Credit of 30-60 days.
Staff &
Office:
--------------------------
SC is known to have approx. 2
staff at present.
SC rents an area as its operating office, but the detailed information
is unknown.
RELATED COMPANY
SC is not known to have any subsidiary at present.
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
Basic Bank:
Industrial and Commercial Bank of China Shanghai
Branch
AC#: 1001212609200060361
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
234 |
|
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Notes receivable |
0 |
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Accounts receivable |
23 |
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Advances to suppliers |
0 |
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Other receivable |
583 |
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Inventory |
0 |
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Non-current assets within one year |
0 |
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Other current assets |
0 |
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------------------ |
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Current assets |
840 |
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Fixed assets |
18 |
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Construction in progress |
0 |
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Intangible assets |
0 |
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Long-term investment |
0 |
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Deferred income tax assets |
0 |
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Other non-current assets |
0 |
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------------------ |
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Total assets |
858 |
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============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
0 |
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Welfares payable |
0 |
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Taxes payable |
0 |
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Advances from clients |
0 |
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Other payable |
420 |
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Other current liabilities |
0 |
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------------------ |
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Current liabilities |
420 |
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Non-current liabilities |
0 |
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------------------ |
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Total liabilities |
420 |
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Equities |
438 |
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------------------ |
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Total liabilities & equities |
858 |
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============= |
Income Statement
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
Revenue |
0 |
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Cost of sales |
0 |
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Sales expense |
0 |
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Management expense |
31 |
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Finance expense |
0 |
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Profit before tax |
-31 |
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Less: profit tax |
0 |
|
-31 |
Important Ratios
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As of Dec. 31, 2011 |
|
*Current ratio |
2.00 |
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*Quick ratio |
2.00 |
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*Liabilities to assets |
0.49 |
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*Net profit margin (%) |
-- |
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*Return on total assets (%) |
-3.61 |
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*Inventory / Revenue ×365 |
-- |
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*Accounts receivable/ Revenue ×365 |
-- |
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* Revenue/Total assets |
-- |
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* Cost of sales / Revenue |
-- |
FINANCIAL COMMENTS
PROFITABILITY: FAIR
SC has no revenue in 2011.
SC’s return on total assets is fair.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a normal level.
SC has no inventory.
SC has no short-term loans.
LEVERAGE: FAIR
The debt ratio of SC is average.
The risk for SC to go bankrupt is fairly high.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with fair financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.55.64 |
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UK Pound |
1 |
Rs.87.31 |
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Euro |
1 |
Rs.68.81 |
INFORMATION DETAILS
|
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.