MIRA
INFORM REPORT
|
Report Date : |
18.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
Foreign |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
14.07.1989 |
|
|
|
|
Com. Reg. No.: |
350500100015556 |
|
|
|
|
Legal Form : |
State-Owned Enterprise |
|
|
|
|
Line of Business : |
Importing and exporting various kinds of commodities and
technology |
|
|
|
|
No. of Employees : |
86 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No complaints |
|
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
Fujian Quanzhou Foreign Trade
Corporation
foreign
trade Building, no. 182-188 wenling north road
quanzhou,
fujian PROVINCE 528427 PR CHINA
TEL: 86
(0) 595-22179868/22285805
FAX: 86
(0) 595-22282499
EXECUTIVE SUMMARY
Date of Registration : july 14, 1989
REGISTRATION NO. : 350500100015556
LEGAL FORM :
State-owned enterprise
REGISTERED CAPITAL :
cny 3,050,000
staff : 86
BUSINESS CATEGORY :
trading
Revenue : N/A
EQUITIES : N/A
WEBSITE : N/A
E-MAIL : N/A
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
STEADY
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 state-owned enterprise of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 350500100015556 on July 14, 1989.
SC’s Organization Code Certificate
No.: 15610148-1
SC’s registered capital: cny 3,050,000
SC’s paid-in capital: cny 3,050,000
Registration Change Record:-
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s superior department & chief
executives are as follows:-
|
Superior Department |
|
Quanzhou City Foreign Trade
and Economic Cooperation Bureau |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and
General Manager |
Dong
Hongteng |
RECENT DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER CHART &
BACKGROUND
Name
Quanzhou City Foreign Trade and
Economic Cooperation Bureau
MANAGEMENT
Dong
Hongteng, Legal Representative
and General Manager
------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification: University
Ø
Working experience (s):
From 2010 to present, working in SC as legal
representative and general manager
BUSINESS OPERATION
SC’s registered business scope
includes operating and acting as an agent of importing and exporting
various kinds of commodities and technology; processing with imported
materials, processing with imported samples, assembling with imported parts,
and compensation trade in agreement.
SC is
mainly engaged in international trade.
SC’s
products mainly include: Footwear & Headgear; Horticultural Products; Cases
and Bags
SC sources its materials 100% from domestic market, mainly Fujian. 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 L/C and Credit of 30-60 days.
*Major Customers:
==============
Asean
Corporation
Integrated
Technologies Group LLC.
*Major Suppliers:
==============
Jinjiang
Yuemei Clothing Weaving Co., Ltd.
Xinxiang
Jinke Clothing Weaving Co., Ltd.
Zhangzhou
Xintianli Furniture Co., Ltd.
Zhejiang
Ainimei Textile Co., Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 86
staff at present.
SC
owns an area as its operating office, but the detailed information is unknown.
RELATED COMPANY
SC is known to
have 3 subsidiaries at present:
Xiamen Yashunda International Logistics Co., Ltd.
Fujian Quanzhou Horizon Footwear Manufacturing Co., Ltd.
Quanzhou Jiefeng Light Industrial Co., Ltd.
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’s
suppliers declined to make any comments.
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
The
bank information of SC is not filed in SAIC.
FINANCIALS
The financials of SC is not
available in local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered medium-sized in its line with a development
history of 23 years. Credit up to moderate amount may be considered.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.14 |
|
|
1 |
Rs.86.29 |
|
Euro |
1 |
Rs.67.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.