MIRA
INFORM REPORT
|
Report Date : |
04.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI COWELL MACHINERY CO., LTD. |
|
|
|
|
Registered Office : |
Room 803, No. 1 Greenland Putuo Commercial Plaza, Lane 423, Xincun Road, Putuo District, Shanghai, 200065 Pr |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
10.09.2007 |
|
|
|
|
Com. Reg. No.: |
310107000515619 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Trading of fueling equipment |
|
|
|
|
No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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
Shanghai Cowell Machinery Co., Ltd.
room 803, no. 1
Greenland Putuo Commercial Plaza, lane 423,
xincun road, putuo district, shanghai, 200065 PR CHINA
TEL: 86 (0) 21-36031183/13611964580 FAX: 86 (0) 21-31357753/56700166
EXECUTIVE SUMMARY
INCORPORATION DATE : sep. 10, 2007
REGISTRATION NO. :
310107000515619
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH : 3
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
trading
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.35 = 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
SC was registered as a Limited liabilities co.
at local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on Sep. 10, 2007.
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 selling of machinery and equipment, electrical
and mechanical equipment, hardware, general merchandise, valve, arts and crafts
(except special items), building materials, wire and cable, electronics, camera
equipment, auto parts, garments, chemical products (except for dangerous goods
and special), rubber and plastic products, metal materials, packaging
materials, import and export of goods and technology. (with permit if needed).
SC is mainly
engaged in trading of fueling equipment.
Ms.
Chi Yueye is legal
representative, chairman and general manager of SC at
present.
SC is
known to have approx. 3 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shanghai. Our
checks reveal that SC rents the total premise about 120 square meters.
http://www.cowellmac.com The
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
E-mail: enquiry@cowellmac.com
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2011 |
Registered Capital |
CNY 500,000 |
Present amount |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Chi Yuedan 20
Chi Yueye 80
l
Legal Representative, Chairman and General Manager:
Ms. Chi Yueye , in her
Working Experience(s):
At
present Working in SC as legal
representative, chairman and general manager.
l
Supervisor:
Chi Yuedan
SC is mainly
engaged in trading of fueling equipment.
SC’s products mainly include: fuel dispenser, LPG
dispenser & components, electric transfer pump, truck/stock terminals bulk
flow meter and pump for diesel, gasoline and refined crude oil products and
valves etc.
SC sources its materials 100% from domestic
market. SC sells 10% of its products in domestic market, and 90% to overseas market,
mainly to Africa and Asia countries.
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. And SC declined to release its banking details.
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 small-sized in its line with 5 years operation
history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.81 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.69.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.