MIRA
INFORM REPORT
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Report Date : |
29.02.2012 |
IDENTIFICATION DETAILS
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Name : |
JIANGSU FORHATION CO., LTD. |
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Registered Office : |
7/F, NO. 98, JIANYE ROAD, BAIXIA DISTRICT, NANJING, JIANGSU PROVINCE, 210004 PR CHINA OCT. 13, 2011 320000000102558 LIMITED LIABILITIES COMPANY 7 selling pharmaceutical chemical products |
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Financials (as on) : |
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Date of Incorporation : |
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Com. Reg. No.: |
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Legal Form : |
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Line of Business : |
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No. of Employees : |
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RATING & COMMENTS
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MIRAs Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Maximum Credit Limit : |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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
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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
JIANGSU FORHATION
CO., LTD.
7/F, NO. 98, JIANYE ROAD, BAIXIA DISTRICT, NANJING,
JIANGSU PROVINCE, 210004 PR CHINA
TEL: 86 (0) 25-66622100
FAX: 86 (0) 25-84204100
EXECUTIVE
SUMMARY
INCORPORATION DATE : OCT. 13, 2011
REGISTRATION NO. :
320000000102558
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
7
REGISTERED CAPITAL :
CNY 5,000,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : C.O.D.
TO SMALL AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.30 = USD 1 AS OF
CREDIT RATING : CA4- (see below explanatory notes)
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RATING KEY |
CREDIT RISK ASSESSMENT |
PROPOSED CREDIT LIMIT (in concerned business field) |
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CA1 |
Minimal |
Credit can proceed with favorable terms |
Large amount |
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CA2 |
Low |
Credit can proceed promptly |
Fairly large amount |
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CA3 |
Average |
Credit can proceed normally |
Moderate amount |
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CA4 |
Above average |
Credit should proceed with monitor |
Small amount periodical review |
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CA5 |
Fairly High |
Credit should be extended under guarantee |
C.O.D. To small amount |
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CA6 |
High |
Credit is not recommended |
C.O.D. |
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NR |
Assessment not conducted |
Insufficient data available |
No recommendation |
This rating serves as a reference to assess SCs 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 %) in our credit
analysis are as follows:
Financial
condition (40%) Ownership
background (10%) Payment
record (10%)
Credit history
(15%) Market
trend (10%) Operational
size (15%)
In case of unlimited companies, newly established companies, or lack of
financial data, more weight is given to Ownership background and Payment
record in our analysis.
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 Limited Liabilities Company at local
Administration for industry & commerce (AIC - the official body of issuing
and renewing business license) on Oct. 13, 2011.
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.
SCs registered
business scope includes importing and exporting commodities and technologies;
domestic trade; economic information consultation; management consulting. (该公司的法定经营范围包括：自营和代理各类商品及技术的进出口业务，国内贸易，经济信息咨询，企业管理咨询。)
SC is mainly
engaged in selling pharmaceutical chemical products. (该公司目前主要从事医药化工产品的销售。)
Ms. Xing Houlan (邢厚兰) is legal representative and chairman of SC
at present.
SC is known
to have approx. 7 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Nanjing. Our checks reveal that SC
rents the total premise with about 313 square meters.
http://www.forhation.com/
The design is professional and the content is well organized. At present the
website is in Chinese and English versions.
E-mail: antonio@forhation.com
SC started its normal operation in Nov. of 2011.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Mao Wenqian茅文倩 90
Xing Houlan 邢厚兰 10
\
l
Legal Representative and Chairman:
Ms. Xing Houlan (邢厚兰), ID#
320621195407170020, born in 1954. She is currently responsible for the overall
management of SC.
Working
Experience(s):
At
present Working in SC
as legal representative and chairman.
l
General manager:
Mr. Liu Wei (刘伟), ID#
32108319771124289X, born in 1977. He is currently responsible for the daily
management of SC.
Working
Experience(s):
At
present Working in SC
as general manger.
l
Supervisor:
Mao
Wenqian茅文倩 ID# 320621198008310026
SC started its normal operation in Nov. of 2011.
SC is mainly
engaged in selling pharmaceutical chemical products. (该公司目前主要从事医药化工产品的销售。)
SCs products
mainly include:
Bulk
pharmaceuticals
Intermediates
& chemicals
Formulation for
human
Veterinary bulk drugs
Feed additives
Formulation for
animal
Etc.
Hot products from SCs website:
Ceftriaxone Sodium Sterile
Cefazolin Sodium Sterile
Vancomycin HCL
Ursodeoxycholic Acid (UDCA)
Quetiapine Fumarate
Ambroxol Hydrochloride
Amiodarone Hydrochoride
Gemfibrozil
Ceftiofur Sodium / HCl
Cefquinome Sulfate
Ivermectin
SC sources its materials 100% from domestic
market. SC sells 10% of its products in domestic market, and 90% 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 refused
to release its major suppliers and customers.
Nanjing
Forhation Co., Ltd.
南京福合信贸易有限公司
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 Communications Nanjing Baixia Sub-branch
交通银行南京市白下支行
AC#:
320006601018170075888
Relationship:
Normal.
SC started its normal operation in Nov. of 2011, so its financial
reports are not available at present.
SC is considered small-sized in its line with a short operating history.
Credit dealings with SC are recommended under secured terms.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.14 |
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1 |
Rs.77.86 |
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Euro |
1 |
Rs.66.06 |
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 |
-- |
This score serves as a reference to assess SCs 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.