MIRA
INFORM REPORT
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Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Room B2106, Sunny Square, |
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Country : |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
07.05.2010 |
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Com. Reg. No.: |
120102000068719 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in selling imported wines |
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No. of Employees : |
2 |
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 : |
Slow |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
TIANJIN ETERNAL GRAND INTERNATIONAL
TRADING CO., LTD.
ROOM B2106, SUNNY SQUARE, SHIYIJING ROAD, HEDONG DISTRICT,
TIANJIN, 300171 PR CHINA
TEL: 86 (0)22-24220058/24219128 FAX:
86 (0)22-24303196
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 7, 2010
REGISTRATION NO. : 120102000068719
REGISTERED LEGAL FORM :
Limited Liability Company
STAFF STRENGTH : 2
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE : TRADING
TURNOVER : CNY 9,000 (jan. 1 to SEP. 30, 2011)
EQUITIES : CNY 499,403 (AS OF SEP. 30, 2011)
PAYMENT : AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.37 =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: According to SC’s accountant, the given
address “Room B
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 May 7, 2010.
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 import and export of goods; wholesaling
pre-packaged food; wholesaling and retailing clothing, leather products, hardware,
mechanical and electrical products, edible agricultural products, office
supplies, paper, chemical raw materials and products (excluding dangerous goods
and easy to control drugs), mineral products, metal materials, cosmetics, arts
and crafts. (with permit if needed)
SC is
mainly engaged in selling imported wines.
Ms.
Gong Tongyan has been the legal representative and chairman of SC since May of
2010.
SC is
known to have approx. 2 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Tianjin. Our
checks reveal that SC rents the total premise about 30 square meters.
http://www.eg129.com/
The design is professional and the content is well organized. At present it is
in Chinese version.
Email: hyhz129@126.com
According to SC’s accountant Mr. Hai, SC started its normal business
in December of 2010 and has a little business until now.
MAIN SHAREHOLDERS:
Name % of
Shareholding
Gong Tongyan
70
Du Binglin
30
l
Legal representative and chairman:
Ms. Gong Tongyan is currently responsible for the overall
management of SC.
Working Experience(s):
From May of 2010 to present Working in SC as legal
representative and chairman
According to SC’s accountant Mr. Hai, SC started its normal
business in December of 2010.
SC is
mainly engaged in selling imported wines.
SC’s products
mainly include dry red wine and dry white wine.
SC sources its merchandise 100% from overseas market, mainly
Europe. SC sells 100% of its products in domestic market.
The buying terms of SC include Check, T/T, L/C and Credit of
30-60 days. The payment terms of SC include Check, T/T and Credit of 30-60
days.
Note: SC’s management declined to release its major suppliers and
clients.
Tianjin Sinuoda International Freight Transportation Proxy Co.,
Ltd.
……………………………………………………………………….
Legal representative: Du Binglin
Add: Room B2105, Sunny Square, Shiyijing Road, Hedong District,
Tianjin
Website: http://www.tj-snd.com/
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.
Industrial
and Commercial Bank of China
AC#：N/A
Relationship:
Normal
Balance
Sheet
Unit:
CNY
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As of Sep. 30, 2011 |
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Cash
& bank |
499,403 |
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Inventory |
0 |
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Accounts
receivable |
0 |
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Advances
to suppliers |
0 |
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Other
receivables |
0 |
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Other
current assets |
0 |
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------------------ |
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Current
assets |
499,403 |
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Fixed
assets net value |
0 |
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Projects
under construction |
0 |
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Long
term investment |
0 |
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Intangible
assets |
0 |
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Other
assets |
0 |
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------------------ |
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Total
assets |
499,403 |
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============= |
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Short
loans |
0 |
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Accounts
payable |
0 |
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Advances
from clients |
0 |
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Salaries
and welfare payable |
0 |
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Other
payable |
0 |
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Accrued
expenses |
0 |
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Other
current liabilities |
0 |
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------------------ |
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Current
liabilities |
0 |
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Long
term liabilities |
0 |
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------------------ |
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Total
liabilities |
0 |
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Equities |
499,403 |
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------------------ |
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Total
liabilities & equities |
499,403 |
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============= |
Income
Statement
Unit:
CNY
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Jan.
1 to Sep. 30, 2011 |
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Turnover |
9,000 |
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Cost
of goods sold |
0 |
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Taxes
and additional of main operation |
35 |
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Sales expense |
0 |
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Management expense |
9,000 |
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Finance expense |
0 |
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Profit
before tax |
-35 |
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Less:
profit tax |
0 |
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Profits |
-35 |
Important
Ratios
=============
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As of Sep. 30, 2011 |
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*Current
ratio |
/ |
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*Quick
ratio |
/ |
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*Liabilities
to assets |
0 |
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*Net
profit margin (%) |
-0.39
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*Return
on total assets (%) |
-0.01
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*Inventory
/Turnover ×365 |
/ |
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*Accounts
receivable/Turnover ×365 |
/ |
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*Turnover/Total
assets |
0.02 |
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*
Cost of goods sold/Turnover |
/ |
PROFITABILITY:
FAIR
l
The turnover of SC appears poor in its
line.
l
SC’s net profit margin is fair.
l
SC’s return on total assets is fair.
LIQUIDITY:
FAIR
l
There is no inventory of SC as of Sep.
30 of 2011.
l
There is no accounts receivable of SC
as of Sep. 30 of 2011.
l
There is no short-term loan of SC as of
Sep. 30 of 2011.
l
SC’s turnover is in a poor level,
comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The risk for SC to go bankrupt is
average.
Overall financial condition of
the SC: Fair.
SC is considered small-sized in its line with a short operating
history and fair financial conditions. According to SC’s accountant Mr. Hai, SC
started its normal business in December of 2010 and has a little business until
now. Credit dealings with SC should be confined into C.O.D. at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.55 |
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|
1 |
Rs.85.47 |
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Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.