MIRA
INFORM REPORT
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Report Date : |
13.07.2012 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI GREEN LEAF PERFUMERY CO., LTD. |
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Registered Office : |
Rm 1005, No. 317, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.03.2004 |
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Com. Reg. No.: |
310105000252405 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling natural spices and synthetic spices |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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
|
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
SHANGHAI GREEN LEAF PERFUMERY CO., LTD.
RM 1005, NO. 317, XIANXIA ROAD, CHANGNING DISTRICT
SHANGHAI 528427 PR CHINA
TEL: 86 (0) 21-62783726
FAX: 86 (0) 21-62783719
EXECUTIVE SUMMARY
Date of Registration : march 24, 2004
REGISTRATION NO. : 310105000252405
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 1,000,000
staff :
5
BUSINESS CATEGORY : trading
Revenue :
CNY 3,254,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY -3,342,000 (AS OF DEC. 31, 2011)
WEBSITE : www.glmenthol.com
E-MAIL :
info@glmenthol.com
PAYMENT :
AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : poor
OPERATIONAL TREND : Downward
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.37 = 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.: 310105000252405 on March 24, 2004.
SC’s Organization Code Certificate No.:
76057830-7
SC’s registered capital: cny 1,000,000
SC’s paid-in capital: cny 1,000,000
Registration Change Record:-
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Zhang Yong |
90 |
|
Yang Tao |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Zhang Yong |
|
Supervisor |
Yang Tao |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Zhang Yong 90
Yang Tao 10
MANAGEMENT
Zhang Yong , Legal Representative, Chairman and General
Manager
-------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2004
to present, working in SC as legal representative, chairman and general manager
Yang Tao , Supervisor
-------------------------------------
Ø
Gender: M
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered business scope includes selling natural
spices and synthetic spices, furs, feathers, leather products, handicrafts, daily
necessities, hardware, electronic products, textiles, clothing, packaging
materials, household appliances; operating and acting as an agent of importing
and exporting various kinds of commodities and technology, excluding the goods
forbidden by the government, in accordance with the license.
SC is mainly
engaged in selling natural spices and synthetic spices.
Brand: Bingshan
SC’s products
mainly include:
n
Natural Menthol Crystal
n
Peppermint Oil
n
Mint Terpenes
n
Menthone
n
Other products
n
Synthetic Camphor Powder
n
Eucalyptus Oil Ex. Globulous
n
Methyl Salicylate
n
Lavender Oil
n
Borneol Flakes
n
Vanillin
n
Ethyl Vanillin
n
Sandalwood
SC sources its materials 100% from domestic market, mainly Anhui. SC sells 100% of its products to overseas market, mainly USA, Europe, Mid East, Southeast Asia, etc.
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 Customer:
==============
A To Z Nutrition
International Inc.
Staff & Office:
--------------------------
SC is known
to have approx. 5 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
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
Bank of China
AC#: N/A
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
231 |
|
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Notes receivable |
0 |
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Accounts
receivable |
5,843 |
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Other receivable |
0 |
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Inventory |
2,075 |
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Non-current
assets within one year |
0 |
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Other current
assets |
4,282 |
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------------------ |
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Current assets |
12,431 |
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Fixed assets |
52 |
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Long-term
prepaid expenses |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
0 |
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------------------ |
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Total assets |
12,483 |
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============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
11,174 |
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Other payable |
-1,351 |
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Other current
liabilities |
4,925 |
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------------------ |
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Current
liabilities |
14,748 |
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Non-current
liabilities |
1,077 |
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------------------ |
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Total
liabilities |
15,825 |
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Equities |
-3,342 |
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------------------ |
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Total
liabilities & equities |
12,483 |
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============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
|
Revenue |
3,254 |
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Cost of sales |
3,062 |
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Sales expense |
123 |
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Management expense |
1,988 |
|
Finance expense |
2 |
|
Profit before
tax |
-1,923 |
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Less: profit tax |
0 |
|
-1,923 |
S
Important Ratios
=============
|
|
As
of Dec. 31, 2011 |
|
*Current ratio |
0.84 |
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*Quick ratio |
0.70 |
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*Liabilities
to assets |
1.27 |
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*Net profit
margin (%) |
-59.10 |
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*Return on
total assets (%) |
-15.40 |
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*Inventory /
Revenue ×365 |
233 days |
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*Accounts
receivable/ Revenue ×365 |
656 days |
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*
Revenue/Total assets |
0.26 |
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* Cost of
sales / Revenue |
0.94 |
FINANCIAL COMMENTS
PROFITABILITY:
POOR
l
The revenue of SC appears fair in its line.
l
SC’s net profit margin is poor.
l
SC’s return on total assets is poor.
l
SC’s cost of sales is high, comparing with its
revenue.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a fair
level.
l
SC’s quick ratio is maintained in a fair level.
l
The inventory of SC appears fairly large.
l
The accounts receivable of SC appears large.
l
SC has no short-term loans in 2011.
l
SC’s revenue is in a poor level, comparing with the
size of its total assets.
LEVERAGE: POOR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is high.
Overall financial
condition of the SC: Poor.
CONCLUSIONS
SC is considered small-sized in its line with poor financial conditions.
The large amount of accounts receivable may be a threat to SC’s financial
condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.86.28 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 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.