MIRA
INFORM REPORT
|
Report Date : |
17.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MEIMENGXUAN FAMILY FURNISHING CO., LTD. |
|
|
|
|
Registered Office : |
No. 102, Liulian Road, Liulian Community, Pingdi Street, Longgang Area, Shenzhen, Guangdong Province, 518000 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
21.07.2011 |
|
|
|
|
Com. Reg. No.: |
440307105581141 |
|
|
|
|
Legal Form : |
One-Person Limited Liability Company |
|
|
|
|
Line of Business : |
Selling furniture and furniture parts |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 and address
MEIMENGXUAN FAMILY FURNISHING Co., Ltd.
No. 102, LiuLian
Road, Liulian Community, Pingdi Street, LongGang Area, Shenzhen, Guangdong
PROVINCE, 518000 PR CHINA
TEL: 86 (0)
752-2061093 FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : jul. 21, 2011
REGISTRATION NO. : 440307105581141
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH :
10
REGISTERED CAPITAL : cny 100,000
BUSINESS LINE :
SELLING
TURNOVER : N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
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 One-person Limited Liability Company
at local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on Jul. 21, 2011.
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 CNY 100,000. 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 of metal products, cloth products, furniture
and furniture parts; domestic trade (excluding those legal and administrative
regulations, the State Council decided in the pre-registration).
SC is mainly engaged
in selling furniture and furniture parts.
Mr. Xie Guangcheng is legal representative, chairman and general
manager of SC at present.
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 Shenzhen. Detailed information of the premise is
unspecified.
http://www.sopheal.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: sopheal2011@163.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Xie Guangcheng 100
l
Legal Representative, Chairman and General Manager:
Mr. Xie Guangcheng
is currently responsible for the overall and daily management of SC.
Working Experience(s):
At
present Working in SC as legal
representative, chairman and general manager.
l
Supervisor:
Xie Jiecheng
SC is mainly
engaged in selling furniture and furniture parts.
SC’s products
mainly include: spring mattress, multi-functional,
bed, coffee table, sofa, dining table, dining chair, etc.
SC sources its materials 100% from domestic
market. SC sells 100% of its products in domestic 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 and Credit of 30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
According to SC’s website:
Stores
Add.: (Opposite of the North Gate of Xiaogang Park) First Floor, Yinhua
Building, No. 3 Xingang West Road, Haizhu Zone, Guangzhou
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 were not
available.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a short history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.99 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.