MIRA
INFORM REPORT
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Report Date : |
18.02.2012 |
IDENTIFICATION DETAILS
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Name : |
Zhangjiagang
Manhing Plastic Products Co., Ltd. |
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Registered Office : |
No. 3 West Street, Tianzhuang, Gangkou, Fenghuang
Town, Zhangjiagang, Jiangsu Province,
215612 Pr |
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Country : |
China |
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Date of Incorporation : |
20.04.1994 |
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Com. Reg. No.: |
320582400002816 |
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Legal Form : |
Chinese-Foreign Equity Joint
Venture Enterprise |
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Line of Business : |
Manufacturing And Selling PVC Products And PE Products |
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No. of Employees : |
450 |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 and address
Zhangjiagang
Manhing Plastic Products Co., Ltd.
No. 3 West Street, Tianzhuang,
Gangkou, Fenghuang Town, Zhangjiagang,
Jiangsu PROVINCE, 215612 PR CHINA
TEL: 86 (0) 512-58340810/58488635
FAX: 86 (0) 512-58486266
EXECUTIVE SUMMARY
INCORPORATION DATE :
Apr. 20, 1994
REGISTRATION NO. : 320582400002816
REGISTERED LEGAL FORM : CHINESE-FOREIGN EQUITY JOINT VENTURE
ENTERPRISE
CHIEF EXECUTIVE : MR. Sun yuebo (CHAIRMAN)
STAFF STRENGTH : 450
REGISTERED CAPITAL :
USD 3,260,000
BUSINESS LINE : Manufacturing & SELLING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : moderate amount
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.3016 = 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 correct name should be the heading one. And SC is
also known as Zhangjiagang Manhing Plastic Co., Ltd.
SC was registered as a Chinese-foreign equity joint venture
enterprise at local Administration for Industry & Commerce (AIC - The
official body of issuing and renewing business license) on Apr. 20, 1994.
Company Status: Chinese-foreign equity joint venture
enterprise This form of business in PR
China is defined as a legal person. It is a limited co. jointly invested by
one or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of
capital investment. The investing parties exercise business management,
share profits and bear all risks and liabilities of the co. together. The
equity joint venture law requires that foreign party contribute not less
than 25% of the registered capital, with no maximum. The investing parties
are free to agree on method of profit distribution and liabilities bearing
according to the proportion of capital investment. Each investing parties
contributes funds, tangible assets, technology & etc. The board of
directors excises the high authority. The joint venture usually has a
limited duration of 10 to 50 years. Enterprise with large investment, long
construction periods, low investment returns, introducing of advanced
technology & advanced technology products that have good competition
position in international market may extend beyond the 50 years limit.
SC’s registered business scope includes manufacturing PVC
products, PE products and other plastic products, selling self-made products.
SC is mainly engaged in manufacturing and selling PVC
products and PE products.
Mr. Sun Yuebo is legal representative, chairman and general
manager of SC at present.
SC is known to have approx. 450 employees at
present.
SC is currently operating at the above stated address, and
this address houses its operating office and factory in the industrial zone of Zhangjiagang.
Detailed information of the premise is unspecified.
http://www.wanxing-plastic.com/
The design is professional and the content is well organized. At present it is in
both Chinese and English versions.
E-mail: fnyxj@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
Zhangjiagang Free Trade Zone Yuexin International Trade Co.,
Ltd. 75
Erdal Akdemir (Turk) 25
Zhangjiagang Free Trade Zone Yuexin International Trade Co.,
Ltd.
=================================================
Registration No.: 320592000037712
·
Legal
Representative, Chairman and General Manager:
Mr. Sun Yuebo, ID# 320923195901015113, born in 1959, he 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.
·
Directors:
Fan Chunlian, ID# 222301195907152423,
born in 1959.
Erdal Akdemir, Turk, # 32125926910.
·
Supervisor:
Lu Hongzhuan, born in 1959.
SC is mainly engaged in manufacturing and selling PVC
products and PE products.
SC’s products mainly include: PVC shower curtain, solid
color film, PVC flooring, PVC table cloth and PVC printed film, etc.
SC sources its materials 100% from domestic market. SC sells
40% of its products in domestic market, and 60% to overseas 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, L/C and Credit of 30-60
days.
Note: SC’s management declined to release its major 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.
No bank information was found during our checks with the
local Administration for Industry and Commerce.
Investigations were made with the local AIC, but the financial
records were not available.
SC’s management declined to release any financial
information.
SC is considered medium-sized in its line with 18 years
operation history. Credit up to moderate amount appears acceptable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
|
1 |
Rs.77.75 |
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Euro |
1 |
Rs.64.58 |
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.