MIRA
INFORM REPORT
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Report Date : |
08.02.2012 |
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Tel. No.: |
8657680230333 |
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Fax No.: |
8618968529839 |
IDENTIFICATION DETAILS
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Correct Name : |
Taizhou
Ambund Import & Export Co., Ltd. |
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Registered Office : |
Room 2605, Block D Office Building, Gangtai Yiding Square, Lubei Street, Luqiao Area, Taizhou,
Zhejiang Province, 318050 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
12.08.2010 |
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Com. Reg. No.: |
331004000061216 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged In
International Trade |
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No. of Employees : |
8 |
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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Maximum Credit Limit : |
usd 10,000 |
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Status : |
Small company |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
Taizhou Ambund Import & Export
Co., Ltd.
ROOM 2605, BLOCK D OFFICE BUILDING,
GANGTAI YIDING SQUARE,
LUBEI STREET, LUQIAO area, TAIZHOU,
ZHEJIANG PROVINCE, 318050 PR CHINA
TEL: 86 (0) 576-80230333 FAX: 86 (0) 576-80230222
EXECUTIVE SUMMARY
INCORPORATION DATE : AUG. 12, 2010
REGISTRATION NO. : 331004000061216
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
8
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE :
INTERNATIONAL TRADE
TURNOVER :
CNY 2,710,000 (UNAUDITED, AS OF
DEC. 31, 2011)
EQUITIES :
CNY 1,980,000 (UNAUDITED, AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO usd 10,000 (periodical review)
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.30 = USD
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: SC’s name should be the above stated one;
the given mobile phone no. 18968529839 belongs to Mr. Dustin, who is the export
department manager of SC.
SC was registered as a limited liabilities company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Aug. 12, 2010.
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 importing and exporting various goods and technology.
SC is mainly
engaged in international trade.
Mr. Cao Xingxing has
been chairman of SC since 2010.
SC is known to
have approx. 8 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Taizhou. Our checks reveal that SC
owns the total premise about 100 square meters.
http://www.ambund.com The design is
professional and the content is well organized. At present it is in English
version.
E-Mail: info@ambund.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Chen Yanhua 25
l
Chairman and General Manager:
Mr.
Working Experience(s):
From 2010 to present Working
in SC as chairman and general manager.
SC is mainly
engaged in international trade.
SC’s products
mainly include:
Barricade Light
Plastic Chain
Road Stud
Solar Traffic Sign
Speed Hump
Strobe Warning
Lights
Traffic Arrow
board
Traffic Cone
PE Traffic Cone
PVC Road Cone
Rubber Traffic
Cone
Soalr Expandable
Traffic Cone
Traffic Direction
Sign
Traffic Baton
Multifunctional
Baton
250-260 Series
Traffic Baton
270-280 Series
Traffic Wand
700-900 Series
Safety Baton
Warning Board
Warning Light
Solar Warning
Light
Traffic Warning
Light
Warning Post
Warning Sign
SC sources its materials 95% from domestic
market and 5% from the overseas market. SC sells 5% of its products in domestic
market, and 95% to overseas market, mainly USA, Europe and Southeast Asian
market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
Note: SC’s management declined to release its main clients and
suppliers.
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.
Bank of China
AC#：00000396158335890
Relationship:
Normal.
Balance Sheet
|
Unit: CNY’000 |
as
of Dec. 31, 2010 |
as
of Dec. 31, 2011 |
|
Cash & bank |
1,980 |
2,280 |
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Inventory |
0 |
40 |
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Accounts
receivable |
0 |
0 |
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Other Accounts
receivable |
10 |
10 |
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Advances to
suppliers |
0 |
60 |
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Other current
assets |
0 |
240 |
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|
------------------ |
------------------ |
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Current assets |
1,990 |
2,630 |
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Fixed assets net
value |
0 |
10 |
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Projects under
construction |
0 |
0 |
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Long term
investment |
0 |
0 |
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Other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
1,990 |
2,640 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
0 |
0 |
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Other Accounts
payable |
0 |
0 |
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Advances from
clients |
0 |
680 |
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Tax payable |
0 |
-20 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
0 |
660 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
0 |
660 |
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Equities |
1,990 |
1,980 |
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------------------ |
------------------ |
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Total
liabilities & equities |
1,990 |
2,640 |
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============= |
============= |
Income Statement
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Unit: CNY’000 |
as of Dec. 31,
2011 |
|
Turnover |
2,710 |
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Cost of goods
sold |
2,580 |
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Sales expense |
40 |
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Management expense |
100 |
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Finance expense |
10 |
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Profit before
tax |
-10 |
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Less: profit tax |
0 |
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Profits |
-10 |
Note: SC’s financial statements for Year 2011 have not been audited.
Important
Ratios
=============
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|
As
of Dec. 31, 2011 |
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*Current ratio |
3.98 |
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*Quick ratio |
3.92 |
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*Liabilities
to assets |
0.25 |
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*Net profit
margin (%) |
-0.37 |
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*Return on
total assets (%) |
-0.38 |
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*Inventory
/Turnover ×365 |
5 days |
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*Accounts
receivable/Turnover ×365 |
0 |
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*Turnover/Total
assets |
1.03 |
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* Cost of
goods sold/Turnover |
0.95 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in 2011.
l
SC’s net profit margin is fair in 2011.
l
SC’s return on total assets is fair in 2011.
l
SC’s cost of goods sold is fairly high in 2011,
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
The inventory of SC is average in 2011.
l
SC has no accounts receivable in both years.
l
SC has no short-term loan in both years.
l
SC’s turnover is in an average level in 2011,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is low in 2011.
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. A credit line up to USD 10,000
would appear to be within SC’s capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.91 |
|
|
1 |
Rs.77.30 |
|
Euro |
1 |
Rs.64.11 |
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 |
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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 |
-- |
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.