MIRA
INFORM REPORT
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Report Date : |
24.07.2012 |
IDENTIFICATION DETAILS
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Name : |
SINOTRADE GLOBAL LIMITED GUANGZHOU
REPRESENTATIVE OFFICE |
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Registered Office : |
Room 1009, Dongshan Plaza, No. 69 Xianlie Middle Road,
Yuexiu District, Guangzhou, Guangdong Province, 510095 Pr |
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Country : |
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Date of Incorporation : |
14.03.2005 |
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Com. Reg. No.: |
440101500004063 |
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Legal Form : |
Representative Office |
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Line of Business : |
Subject is
engaged in business liaison of import and export business |
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No. of Employees : |
10 |
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 : |
Unknown |
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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 & address
SINOTRADE
GLOBAL LIMITED GUANGZHOU Representative office
ROOM 1009, DONGSHAN
PLAZA, NO. 69 XIANLIE MIDDLE ROAD, YUEXIU DISTRICT, GUANGZHOU, GUANGDONG PROVINCE,
510095 PR CHINA
TEL: 86 (0)
20-87326815/87327751-624 FAX: 86 (0)
20-37589782
EXECUTIVE SUMMARY
INCORPORATION DATE : march 14, 2005
REGISTRATION NO. : 440101500004063
REGISTERED LEGAL
FORM : Representative office
STAFF STRENGTH :
10
REGISTERED CAPITAL : n/a
BUSINESS LINE :
liaison
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
not yet determined
MARKET CONDITION : FAIR
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : FAIRLY steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.3857 = 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: SC’s complete name should be the heading one, while the given one (Sinotrade Global Ltd. H.K.) belongs to SC’s parent company.
SC was registered as a representative office at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on March 14, 2005.
Company Status: Representative office Foreign company, which has
entered into a contract with a PR China co., is permitted to establish a
representative office in PR China. The representative office may engage
only in “non-direct operating activities” such as liaison, consulting,
market research & general information gathering. At present,
representative office is not allowed to employ local employees in its own
name and must use PR China employment agencies.
SC’s registered
business scope includes business liaison of import and export business.
SC is mainly
engaged in business liaison of import and export business.
Damani Anand Kumar
is principal of SC at present.
SC is known to have
approx. 10 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Guangzhou.
SC’s accountant refused to release the detailed information of the premise
http://www.sinotradeglobal.com The website belongs to Sinotrade Global
Limited. The design is professional and the content is well organized. At
present the web site is only in English version.
Email: info@sinotrade.com.cn
No significant events or changes were found during our checks with the
local Administration for Industry & Commerce.
PARENT
COMPANY:
Name
(Hong Kong) Sinotrade Global Limited
Sinotrade Global Ltd. is an international trading house dealing in a
wide range of commodities. It has satisfied customer base all around the World including
in Australia, USA, Germany, UK, India, New Zealand, Thailand, Malaysia, Ghana,
Saudi Arabia, Kenya, UAE, China and Hong Kong.
Registration no.: 0922746
Legal form: private
Incorporation date:
Website: http://www.sinotradeglobal.com
Principal:
Damani Anand Kumar is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working
in SC as principal.
SC is mainly
engaged in business liaison of import and export business.
The products of SC’s parent company: Construction Materials,
Furniture, Silk & Silk Fabrics, Metal Scrap, Mining Tool, Fire Equipments,
etc.
According
to http://www.sinotradeglobal.com
INDIA
Glace
Ecosystems Pvt Ltd
P
552, Block N, Flat
Phone:
+ 91 33 24008796
Mobile:
+91 98310 30468
Fax:
+ 91 33 24008794
Overall payment appraisal:
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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: N/A
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.
SC’s management declined
to release its bank details.
As a representative office, SC is not allowed to engage in direct
business. All its expenses are supposed to be provided by its parent company.
Therefore, its financial information is not available.
SC is a representative office, which is not engaged in direct business.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.76 |
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UK Pound |
1 |
Rs.86.80 |
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Euro |
1 |
Rs.67.43 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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.