MIRA
INFORM REPORT
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Report Date : |
21.08.2012 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL HOLDING GROUP CO., LTD. |
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Formerly Known As : |
Global International Logistics Co., Ltd. |
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Registered Office : |
5/F, Bldg. A, International Convention And Exhibition
Centre, No. 181, Huizhan Road,
Jiangdong District, Ningbo, Zhejiang Province, 315040 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
30.09.2007 |
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Com. Reg. No.: |
330200000013177 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International
Trade and Freight Forwarding |
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No. of Employees : |
46 employees |
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 but Correct |
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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
GLOBAL HOLDING GROUP Co., Ltd.
5/f, bldg. a,
international Convention and Exhibition Centre,
no. 181, huizhan
road, jiangdong district, ningbo,
zhejiang PROVINCE,
315040 PR CHINA
TEL: 86 (0)
574-87990303/87704993 FAX: 86 (0)
574-87990228
EXECUTIVE SUMMARY
INCORPORATION DATE : SEP. 30, 2007
REGISTRATION NO. :
330200000013177
REGISTERED
LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 46
REGISTERED CAPITAL :
CNY 50,000,000
BUSINESS LINE : TRADE
& LOGISTICS
TURNOVER : CNY 69,750,000 (UNaudited, AS OF DEC. 31, 2010)
EQUITIES : CNY 48,110,000 (UNaudited, AS OF
DEC. 31, 2010)
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.37 = 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 address belongs to SC’s Taizhou
Branch.
SC was registered as a Limited Liability Company at local
Administration for industry & commerce (AIC - the official body of issuing
and renewing business license) on Sep. 30, 2007.
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 industrial project investment;
international & domestic forwarding; common goods storage; declaring and
confirming at customs; freight forwarding in the way of outsourcing services;
electronics and network technology development and transfer; project planning,
management, consulting and related services; exhibition and conference
services; leasing mechanical equipment; enterprise consultancy services; realty
management; civil engineering construction; arts & crafts; hardware,
general merchandise, fresh aquatics; home appliance equipment; wholesaling and
retailing native products, garment, knitting textiles, shoes, chemicals &
raw materials, metal materials, building decoration materials, instrument &
meter, mechanical equipment, cleaning equipment, plumbing fittings, electronic
computer and peripheral equipment; refrigeration equipment; air carrier, toys,
sporting goods, lumber, semi-manufactured lumber, furniture, clocks, paper and
paper products; rubber & plastic raw materials, plastics; lighting
equipment, cosmetics, industrial grease and audio equipment; import and export
of various goods and technologies, but excluding the good prohibited or limited
by the country.
SC is mainly
engaged in international trade and freight forwarding.
Mr. Chen Desong is legal representative and chairman of SC at present.
SC is
known to have approx. 46 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Ningbo. Our
checks reveal that SC rents the total premise about 300 square meters.
http://www.global-group.com.cn
The design is professional and the content is well organized. At present it is
in Chinese version.
Email: zjxsjwl@global-group.com.cn
SC started its normal operation in Jan. of 2009.
Changes of SC’s
registered information:
|
Date |
Item |
Before changed |
After changed |
|
Feb., 2010. |
Company name |
Global International Logistics Co., Ltd. |
Present one |
|
Unknown |
Shareholders |
China New Century Holding Group Co., Ltd. 30.2% Zhejiang
New Century International Logistics Co., Ltd. 10% Chen Desong 30% Jiang
Zhenhui 29.8% |
Present ones |
MAIN SHAREHOLDERS:
Name %
of Shareholding
China New Century Holding Group
Co., Ltd. 80.2
Chen Desong ID#
332623195008160614 10
Jiang Zhenhui ID#
33262319710319052X 9.8
China New Century Holding Group Co., Ltd.
================================
China New Century Holding Group is a
large-sized group enterprise. It owns sixteen whole-capital enterprises and
nineteen trading departments. To complete in all varieties, it sets up
manufacturing industry, international logistics, finance assurance and
international commerce and so on.
Website: http://www.cncgroup.cn/
E-mail: cnc@mail.cncgroup.cn
Tel.: 86-576-88322600
Fax: 86-576-88322505
Chairman &
General Manager:
Mr. Chen Desong, born in 1950, with university
education. He is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as chairman and general manager.
Also working in China New Century Holding Group Co., Ltd. Ningbo New Century Import & Export Co., Ltd. and Zhejiang New Century Int’l Logistics Co., Ltd. as legal representative.
SC is mainly
engaged in international trade and freight forwarding.
SC’s products
mainly include general merchandise, home appliances, textiles, shoes, and so
on.
SC sources its materials 90%
from domestic market, and 10% from overseas market. SC sells 70% of its
products in domestic market, and 30% 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’s management declined to release its main clients and
suppliers.
Zhejiang New Century Int’l Logistics Co., Ltd.
Etc.
Subsidiaries:
=========
Ningbo New Century Import & Export Co., Ltd.
Etc.
Branches:
========
Taizhou Branch
Add: No. 618 West Gongren Road, Jiaojiang District, Taizhou, Zhejiang Province
Tel: 0086-576-88322628
Fax: 0086-576-88322615
SC is also known to have branches in Shanghai, Hangzhou, Yiwu and Shenzhen, etc.
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.
China
Construction Bank Ningbo Chengjian Sub-branch
AC#
33101985500052500264
Relationship:
Normal
Balance Sheet
Unit: CNY’000
|
|
as
of Dec. 31, 2009 |
as
of Dec. 31, 2010 |
|
Cash & bank |
1,050 |
1,740 |
|
Inventory |
0 |
0 |
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Accounts receivable |
1,040 |
4,420 |
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Advances to
suppliers |
28,580 |
27,910 |
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Other
receivables |
470 |
2,630 |
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Subsidies
receivable |
6,700 |
2,200 |
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Other current
assets |
940 |
640 |
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------------------ |
------------------ |
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Current assets |
38,780 |
39,540 |
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Fixed assets net
value |
100 |
110 |
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Projects under
construction |
0 |
0 |
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Long term
investment |
10,050 |
11,560 |
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Other assets |
1,940 |
2,270 |
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------------------ |
------------------ |
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Total assets |
50,870 |
53,480 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
420 |
1,420 |
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Other payable |
6,830 |
6,640 |
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Taxes payable |
0 |
0 |
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Advances from
clients |
-4,850 |
-2,690 |
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Other current
liabilities |
10 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
2,410 |
5,370 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
2,410 |
5,370 |
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Equities |
48,460 |
48,110 |
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------------------ |
------------------ |
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Total
liabilities & equities |
50,870 |
53,480 |
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============= |
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Income Statement
Unit: CNY’000
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|
as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
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Turnover |
60,900 |
69,750 |
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Cost of goods
sold |
59,170 |
67,010 |
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Sales expense |
240 |
380 |
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Management expense |
2,980 |
2,660 |
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Finance expense |
40 |
110 |
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Other expenses |
30 |
0 |
|
Profit before
tax |
-1,560 |
-360 |
|
Less: profit tax |
0 |
0 |
|
Profits |
-1,560 |
-360 |
Note:
The above financial records have not been audited.
Important Ratios
=============
|
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as
of Dec. 31, 2009 |
as
of Dec. 31, 2010 |
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*Current ratio |
16.09 |
7.36 |
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*Quick ratio |
16.09 |
7.36 |
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*Liabilities
to assets |
0.05 |
0.10 |
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*Net profit
margin (%) |
-2.56 |
-0.52 |
|
*Return on
total assets (%) |
-3.07 |
-0.67 |
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*Inventory
/Turnover ×365 |
0 |
0 |
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*Accounts
receivable/Turnover ×365 |
6 days |
23 days |
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*Turnover/Total
assets |
1.20 |
1.30 |
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* Cost of
goods sold/Turnover |
0.97 |
0.96 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in both years.
l
SC’s net profit margin is fair in both years.
l
SC’s return on total assets is fair in both years.
l
SC’s cost of goods sold is high in both years,
comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
l
SC has no inventory in both years.
l
The accounts receivable of SC is maintained in an
average level in both years.
l
SC has no short-term loan in both years.
l
SC’s turnover is in an average level in both years,
comparing with the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low in both years.
l
The risk for SC to go bankrupt is average.
Overall financial condition of the SC:
Fairly stable.
SC is considered medium-sized in its line with fairly stable
financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
UK Pound |
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.85 |
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 |
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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.