MIRA
INFORM REPORT
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Report Date : |
24.08.2012 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN ORIENTAL SOURCE TECHNOLOGY CO., LTD.
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Registered Office : |
Room 406-2, Zhanbao Mansion, No. 21, Honglang
North Road, 23 Zone Bao’an District, Shenzhen
Guangdong Province 518101 Pr |
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Country : |
China |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
30.09.2007 |
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Com. Reg. No.: |
440306102905911 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling
Chemicals |
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No. of Employees : |
10 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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
SHENZHEN ORIENTAL SOURCE
TECHNOLOGY CO., LTD.
ROOM
406-2, ZHANBAO MANSION, NO. 21, HONGLANG NORTH ROAD, 23 ZONE BAO’AN DISTRICT, SHENZHEN
GUANGDONG PROVINCE 518101 PR CHINA
TEL: 86
(0) 755-27882022
FAX: 86
(0) 755-27440269
EXECUTIVE SUMMARY
Date of Registration : SEPtember 30, 2007
REGISTRATION NO. : 440306102905911
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
CNY 500,000
staff : 10
BUSINESS CATEGORY :
TRADING
REVENUE :
CNY 410,000 (JAN. 1 2012 TO MAY.
31, 2012)
EQUITIES :
CNY 340,000 (AS OF MAY. 31, 2012)
WEBSITE : www.oriental-source.cn
E-MAIL :
N/A
PAYMENT : AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND :
FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.35 = USD 1
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
LEGAL STATUS & HISTORY
***Note: The given
address (
The interviewed person is the lady, but she refused
to release the detailed name.
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 440306102905911 on September 30, 2007.
SC’s Organization Code Certificate
No.: 66709650-6
SC’s Tax No.: 440300667096506
SC’s registered capital: CNY 500,000
SC’s paid-in capital: CNY 500,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2010-9 |
Legal Representative |
Wang Xing |
Tian Chenghui |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Tian Chenghui |
98 |
|
Wang Xing |
2 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and
Chairman |
Tian Chenghui |
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General Manager |
Wang Xing |
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Supervisor |
Tian Chengjie |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Tian Chenghui 98
Wang Xing 2
MANAGEMENT
Tian Chenghui, Legal
Representative and Chairman
--------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2010 to present, working in SC as legal representative
and chairman
Wang Xing, General
Manager
-----------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2010 to present, working in SC as general manager
Supervisor
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Tian Chengjie
BUSINESS OPERATION
SC’s
registered business scope includes developing and selling hardware and surface
decoration; domestic commerce, goods and materials supply and marketing;
importing and exporting commodities and technologies.
SC is mainly
engaged in selling chemicals.
SC’s products mainly include:
n
Ethyl Diglyme
n
Octadecyl Mercaptan 95% Applied Into Silver Protection
n
Benzene Tri-Nitrogen Azole(95%) Applied Into Copper Protection
n
Triethanolamine Dodecylbenzenesulfonate 60% Used Into Cleaning Industry
n
P-Nitrobenzoic
Acid (99%) Applied Into Metal Stripper
SC sources its materials 80% from domestic market and 20% from overseas market. SC sells 100% in domestic 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 and Credit of 30-60 days.
*Major Customer:
=============
Sociedad Agricola Cerro Campanario Ltda.
*Major Supplier:
============
Wr Grace & Co Conn
Staff & Office:
--------------------------
SC is
known to have approx. 10 staff
at present.
SC rents an area as
its operating office of approx. 100 sq. meters at the heading address.
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:
Shenzhen
Development Bank Bao’an Sub-branch
AC#:
11008286639001
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of May 31, 2012 |
|
520 |
|
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Notes receivable |
0 |
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Accounts
receivable |
70 |
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Advances to
suppliers |
110 |
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Other receivable |
190 |
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Inventory |
80 |
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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 |
970 |
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Fixed assets |
0 |
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Long-term
prepaid expenses |
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 |
970 |
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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 |
420 |
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Advances from
clients |
190 |
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Other payable |
20 |
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Other current
liabilities |
0 |
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------------------ |
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Current
liabilities |
630 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
630 |
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Equities |
340 |
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------------------ |
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Total
liabilities & equities |
970 |
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============= |
Income Statement
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Unit: CNY’000 |
Jan.
1 2012 to May 31, 2012 |
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Revenue |
410 |
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Cost of sales |
300 |
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Sales expense |
0 |
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Management expense |
130 |
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Finance expense |
0 |
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Profit before
tax |
-20 |
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Less: profit tax |
0 |
|
-20 |
Important Ratios
=============
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As
of May 31, 2012 |
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*Current ratio |
1.54 |
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*Quick ratio |
1.41 |
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*Liabilities to
assets |
0.65 |
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*Net profit
margin (%) |
-4.88 |
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*Return on
total assets (%) |
-2.06 |
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*Inventory /
Revenue ×365/150 |
30 days |
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*Accounts
receivable/ Revenue ×365/150 |
26 days |
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*
Revenue/Total assets |
0.42 |
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* Cost of
sales / Revenue |
0.73 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l
The revenue of SC appears
fair in its line.
l
SC’s net profit margin is fair.
l
SC’s return on total assets is fair.
l
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
SC has no short-term loans.
l
SC’s revenue is in a
fair level, comparing with the size of its total assets.
LEVERAGE:
FAIR
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is above average.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.19 |
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UK Pound |
1 |
Rs.87.65 |
|
Euro |
1 |
Rs.69.16 |
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.