MIRA INFORM REPORT

 

 

Report Date :

04.01.2012

 

IDENTIFICATION DETAILS

 

Name :

SHANXI SAIQIANG CHEMICAL CO., LTD.

 

 

Registered Office :

Room 308 Building 3, No. 380 South Jianshe Road, Yingze District, Taiyuan, Shanxi Province, 030006 Pr

 

 

Country :

China

 

 

Date of Incorporation :

11.03.2011

 

 

Com. Reg. No.:

140100207110565

 

 

Legal Form :

One Person Limited Liability Company

 

 

Line of Business :

Selling Chemical Products

 

 

No. of Employees :

5

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New Company

Payment Behaviour :

Unknown

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

SHANXI SAIQIANG CHEMICAL CO., LTD.

ROOM 308 BUILDING 3, NO. 380 SOUTH JIANSHE ROAD, YINGZE DISTRICT,

TAIYUAN, SHANXI PROVINCE, 030006 PR CHINA

TEL: 86 (0) 351-8339031/18703417264    FAX: 86 (0) 351-8339031

 

 

EXECUTIVE SUMMARY

 

INCORPORATION DATE            : MAR. 11, 2011

REGISTRATION NO.                  : 140100207110565

REGISTERED LEGAL FORM     : ONE PERSON LIMITED LIABILITY COMPANY

CHIEF EXECUTIVE                : MR. ZHAO SHUAIBING (CHAIRMAN)

STAFF STRENGTH                    : 5

REGISTERED CAPITAL             : CNY 1,100,000

BUSINESS LINE                        : TRADING

TURNOVER                              : N/A

EQUITIES                                 : N/A

PAYMENT                                : UNKNOWN

RECOMM. CREDIT RANGE       : C.O.D.

MARKET CONDITION                : FAIR

FINANCIAL CONDITION             : N/A

OPERATIONAL TREND              : FAIRLY STEADY

GENERAL REPUTATION           : AVERAGE

EXCHANGE RATE                     : CNY 6.30 =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

 

 

Rounded Rectangle: HISTORY 

 

 


Note: SC’s correct name should be the above stated one.

 

SC was registered as a one person limited liability company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Mar. 11, 2011.

Company Status: One-person Limited Liability Company

Single person LLC refers to a limited liability company set up by only one natural person or legal person as the single shareholder of it.

The minimum registered capital of Single person LLC is CNY100,000. The shareholder’s capital contributes, as set out by the articles of associations should be a lump-sum payment in full.

One natural person can only invest in and set up one limited liability company, which is not permitted to invest in and set up a new Single person LLC.

As to any one-person limited liability company, the sole-investor nature of the natural person or legal person shall be indicated in the registration documents of the company and shall be indicated in the business license thereof as well.

The regulation of Single person LLC should be set up by the shareholder

The regulation of Single person LLC has no shareholder meeting.
 

 

 

 

 

 

 

 

 

 

 

 

 

 

SC’s registered business scope includes chemical raw materials and products (excluding dangerous goods) sales; import and export business.

SC is mainly engaged in selling chemical products.

Mr. Zhao Shuaibing has been legal representative, chairman and general manager of SC since 2011.

 

SC is known to have approx. 5 employees at present.

 

SC is currently operating at the above stated address, and this address houses its operating office in the commercial zone of Taiyuan. Our checks reveal that SC rents the total premise about 80 square meters.

 

Rounded Rectangle: WEB SITE 

 


http://sq-chem.com The design is professional and the content is well organized. At present it is in English version.

 

Email: saiqiang@sq-chem.com

 

 

Rounded Rectangle: KEY EVENTS/RECENT DEVELOPMENT 

 

 


SC started its normal operation in the second half year of 2011.

 

Rounded Rectangle: OWNERSHIP/MANAGEMENT BACKGROUND 

 

 


MAIN SHAREHOLDERS:

 
Name                                                                                    % of Shareholding

 

Zhao Shuaibing                                                                                      100

 

 

Rounded Rectangle: MANAGEMENT 

 

 


l         Legal representative, chairman and general manager:

 

Mr. Zhao Shuaibing , in his 30’s with university education. He is currently responsible for the overall management of SC.

 

Working Experience(s):

 

From 2011 to present          Working in SC as legal representative, chairman and general manager.

 

 

Rounded Rectangle: BUSINESS OPERATIONS BACKGROUND  

 

 


SC started its normal operation in the second half year of 2011.

 

SC is mainly engaged in selling chemical products.

SC’s products mainly include:

Alkali

Acids

Inorganic-salt

Oxides

Organic-salt

 

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.

 

Note: SC’s management declined to release its main suppliers and clients.

 

 

Rounded Rectangle: RELATED COMPANIES BACKGROUND  

 

 


SC is not known to have any subsidiary at present.

 

Rounded Rectangle: PAYMENT BACKGROUND  

 

 


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.

 

 

Rounded Rectangle: BANKING BACKGROUND  

 

 


SC’s management declined to release its bank details.

 

 

Rounded Rectangle: FINANCIAL HIGHLIGHTS BACKGROUND  

 

 


Established in Mar., 2011, SC’s financial reports are not available at present.

 

 

Rounded Rectangle: REMARKS BACKGROUND  

 

 


SC is considered small-sized in its line with a short operating history. Credit should be extended under guarantee, and C.O.D. is recommended.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.23

UK Pound

1

Rs.82.87

Euro

1

Rs.69.13

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.