MIRA INFORM REPORT
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Report Date : |
22.08.2012 |
IDENTIFICATION DETAILS
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Name : |
XIAMEN KEEYAR CORPORATION |
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Registered Office : |
Room 8d, No. 68 Chang’an Road, Huli District, Xiamen,
Fujian Province, 361006 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.06.2007 |
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Com. Reg. No.: |
350203200112082 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
import and export
business include crystallized glass panel, Chinese granite, Chinese marble,
slate & cladding, ceramic mosaic, glass mosaic, crystal mosaic 3D mosaic
tile, stained glass, etc. |
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No. of Employees : |
22 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 : |
No Complaints |
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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
ROOM 8D, NO. 68
CHANG’AN ROAD, HULI DISTRICT, XIAMEN,
FUJIAN PROVINCE,
361006 PR CHINA
TEL: 86 (0)
592-5632575 FAX: 86 (0) 592-5632675
EXECUTIVE SUMMARY
INCORPORATION DATE : JUNE 15, 2007
REGISTRATION NO. : 350203200112082
REGISTERED LEGAL
FORM : ONE-PERSON Limited liabilities company
STAFF STRENGTH :
22
REGISTERED CAPITAL : CNY 3,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 38,270,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 3,370,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 20,000
MARKET CONDITION : average
FINANCIAL CONDITION : Fairly stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.35 = 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 liabilities co. at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on June 15, 2007.
Company Status: One-person limited liabilities co. 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 import and export of various goods and technology, excluding
the goods and technology prohibited or limited by the country (with permit if
needed).
SC is mainly
engaged in import and export business.
Mr. Huang Jinqi is
legal representative and chairman of SC at present.
SC is known to
have approx. 22 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Xiamen.
SC’s management declined to release detailed information of the premise.
http://keeyar.com/ The design is
professional and the content is well organized. At present it is in English
version.
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Huang Jinqi 100
Legal
representative and chairman:
Mr. Huang Jinqi is
currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and chairman
Supervisor:
………….
Zhang Juanjuan
SC is mainly engaged in import and export business.
SC’s products mainly include: crystallized glass panel, Chinese granite,
Chinese marble, slate & cladding, ceramic mosaic, glass mosaic, crystal
mosaic 3D mosaic tile, stained glass, etc.
SC sources its merchandise 70% from overseas
market, and 30% from domestic market. SC sells 80% of its products in domestic
market and 20% 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 major suppliers or clients.
SC is not
known to have any 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.
SC’s management
declined to release its banking information.
Financial Summary
Unit: CNY’000
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as of Dec. 31,
2010 |
as of Dec. 31,
2011 |
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Current assets |
17,830 |
17,610 |
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Current liabilities |
14,900 |
14,340 |
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Total Liabilities |
14,900 |
14,340 |
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Shareholders equities |
3,050 |
3,370 |
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Total Assets |
17,950 |
17,710 |
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Turnover |
29,760 |
38,270 |
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Profit before tax |
110 |
320 |
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Less: profit tax |
40 |
0 |
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Net profit |
70 |
320 |
Note: SC's accountant refused to release SC’s
detailed financial reports for Yr 2010&2011.
Important
Ratios
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as of Dec. 31,
2010 |
as of Dec. 31,
2011 |
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*Current ratio |
1.20 |
1.23 |
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*Liabilities
to assets |
0.83 |
0.81 |
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*Net profit
margin (%) |
0.24 |
0.84 |
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*Return on
total assets (%) |
0.39 |
1.81 |
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*Turnover/Total
assets |
1.66 |
2.16 |
PROFITABILITY:
AVERAGE
l The turnover of SC
appears average in its line, and it increased in 2011.
l SC’s net profit
margin is average in both years.
l SC’s return on
total assets is average in both years.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal level in both years.
l
SC’s turnover is in an average level in both years,
comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high in both years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.54 |
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UK Pound |
1 |
Rs.87.39 |
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Euro |
1 |
Rs.68.72 |
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 |
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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.