MIRA
INFORM REPORT
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Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SYNCHEM INTERNATIONAL CO., LTD. |
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Registered Office : |
Room 3208-3209 World Trade Center, No. 25 Tongxing Street
Zhongshan District, Dalian, Liaoning Province 116001 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
J31.07.1998 |
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Com. Reg. No.: |
210242000004626 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International trade, transit trade and commodity exhibition. |
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No. of Employees : |
12 |
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 50,000 |
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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) |
|
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
SYNCHEM INTERNATIONAL CO., LTD.
ROOM 3208-3209 WORLD TRADE CENTER, NO. 25 TONGXING STREET
ZHONGSHAN DISTRICT, DALIAN, LIAONING PROVINCE 116001 PR CHINA
TEL: 86 (0) 411-82530333/39869805
FAX: 86 (0) 411-82530108
EXECUTIVE SUMMARY
Date of Registration : JULY 31, 1998
REGISTRATION NO. : 210242000004626
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 5,000,000
staff :
12
BUSINESS CATEGORY : TRADING
Revenue :
CNY 139,651,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 7,526,000 (AS OF DEC. 31, 2010)
WEBSITE : www.synchemco.com
E-MAIL : info@synchemco.com
PAYMENT :
AVERAGE
Recommended Credit Limit: UP TO USD 50,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.30 = 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
Not yet be determined
LEGAL STATUS & HISTORY
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 210242000004626 on July 31, 1998.
SC’s Organization Code Certificate No.:
71131229-7
SC’s registered capital: cny 5,000,000
SC’s paid-in capital: cny 5,000,000
Registration Change Record:
|
Date |
Change of Contents |
Before the change |
After the change |
|
|
Shareholder (s) |
Zhejiang Xinchang Synthesis Chemical Factory 80% Zhejiang Xinchang Vitamin Factory 20% |
Xinchang Synthesis Chemical Factory 80% Xinchang Wuma Synthesis Factory 20% |
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|
Legal Representative |
Hu Bofan |
Wu Tieping |
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Shareholder (s) |
Xinchang Synthesis Chemical Factory 80% Xinchang Wuma Synthesis Factory 20% |
Xinchang Synthesis Chemical Factory 80% Wu Tieping 20% |
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Shareholder (s) (% of Shareholding) |
Xinchang Synthesis Chemical Factory 80% Wu Tieping 20% |
Xinhecheng Holding Group Co., Ltd. 55% Wu Tieping45% |
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-- |
Registration No. |
2102421100712 |
210242000004626 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Xinhecheng Holding Group Co., Ltd. |
55 |
|
Wu Tieping |
45 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Wu Tieping |
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Director |
Hu Bofan |
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Wang Xuewen |
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Supervisor |
Shi Guanqun |
RECENT DEVELOPMENT
SC obtained the certificate of ISO 9001-2000 and FAMI-QS Certificate.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Xinhecheng Holding Group Co., Ltd. 55
Wu Tieping 45
Xinhecheng Holding Group Co., Ltd.
---------------------------------------------
Legal Representative: Hu Bofan
Registration No.: 330624000015577
Date of Registration: February 14, 1989
Add: No. 4 North Zhenjiang Road, Xinchang
County, Zhejiang Province
Tel: 86-575-86161888
MANAGEMENT
Wu Tieping , Legal
Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 46
Ø
ID# 21021119660814515X
Ø
Working
experience (s):
At
present, working in SC as legal representative, chairman and general manager
Hu Bofan ,
Director
-------------------------------------
Ø
Gender: M
Ø
Age: 50
Ø
ID# 330624196210286279
Wang Xuewen Director
------------------------------------------
Ø
Gender: M
Ø
Age: 43
Ø
ID# 330624196901080018
Shi Guanqun ,
Supervisor
--------------------------------------------
Ø
Gender: M
Ø
Age: 41
Ø
ID# 330624197104026638
BUSINESS OPERATION
SC’s registered business scope includes international trade, transit trade and commodity exhibition.
SC is mainly
engaged in international trade.
SC’s products mainly
include: Vitamins, API and pharmaceutical intermediates, Construction
chemicals, Biocides, Food/feed additives, Textile additives
SC sources its
materials 100% from domestic market. SC sells 100% of its products to the
overseas market, mainly India and Southeast Asia.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
*Major Supplier:
============
Xinchang Synthesis Chemical Factory
Staff & Office:
--------------------------
SC is known
to have approx. 12 staff at
present.
SC rents an area
as its operating office of approx. 180 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
China Construction Bank Free Trade Zone Sub-branch
AC#:
21201502300050008002
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Long term investment |
0 |
0 |
0 |
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Total assets |
41,547 |
26,199 |
35,164 |
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------------- |
------------- |
------------- |
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Long term liabilities |
0 |
0 |
0 |
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Total
liabilities |
30,333 |
15,583 |
27,638 |
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Equities |
11,214 |
10,616 |
7,526 |
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------------- |
------------- |
------------- |
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Revenue |
167,128 |
90,624 |
139,651 |
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Profit before
tax |
989 |
-521 |
1,216 |
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Less: profit tax |
259 |
0 |
194 |
|
Profits |
730 |
-521 |
1,022 |
Note: The detailed financials for Y2008 & Y2009 and Y2010 are not
available in SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Liabilities
to assets |
0.73 |
0.59 |
0.79 |
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*Net profit
margin (%) |
0.44 |
-0.57 |
0.73 |
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*Return on
total assets (%) |
1.76 |
-1.99 |
2.91 |
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*
Revenue/Total assets |
4.02 |
3.46 |
3.97 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l
The revenue of SC appears average in three years.
l
SC’s net profit margin is average in 2008 and 2010,
and appears fair in 2009.
l
SC’s return on total assets is average in 2008 and 2010,
and appears fair in 2009.
LIQUIDITY: AVERAGE
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average in both years.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with fairly stable financial
conditions. A credit line up to USD 50,000 appears to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
|
1 |
Rs.77.75 |
|
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 |
|
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.