MIRA
INFORM REPORT
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Report Date : |
30.07.2012 |
IDENTIFICATION DETAILS
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Name : |
KLOECKNER PENTAPLAST SHANGHAI CO., LTD. |
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Registered Office : |
Room 2505, Platinum
Building, No. 233 Taicang Road, Luwan District, Shanghai 200021 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
30.07.2007 |
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Com. Reg. No.: |
310000400532786 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Selling plastic film |
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No. of Employees : |
10 |
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 : |
No Complaints |
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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) |
|
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
Kloeckner Pentaplast Shanghai
Co., Ltd.
ROOM 2505,
PLATINUM BUILDING, NO. 233 TAICANG ROAD, LUWAN DISTRICT
SHANGHAI
200021 PR CHINA
TEL: 86
(0) 21-60899009
FAX: 86
(0) 21-61350393
EXECUTIVE SUMMARY
Date of Registration : july 30, 2007
REGISTRATION NO. : 310000400532786
LEGAL FORM : Wholly foreign-owned enterprise
REGISTERED CAPITAL : usd 828,000
staff : 10
BUSINESS CATEGORY : trading
Revenue :
CNY 32,597,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 5,612,000 (AS OF DEC. 31, 2011)
WEBSITE : www.kpfilms.com
E-MAIL :
kpinfo-CN@kpfilms.com
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.39 = 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
LEGAL STATUS & HISTORY
SC was
established as a wholly foreign-owned enterprise of
PRC with State Administration of Industry & Commerce (SAIC) under
registration No.: 310000400532786 on July 30, 2007.
SC’s Organization Code Certificate No.:
66435033-7
SC’s Tax No.: 310103664350337
SC’s registered capital: usd 828,000
SC’s paid-in capital: usd 828,000
Registration Change Record:-
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
2009-1 |
Legal Representative |
Simon Martin Fuchs |
Jay
Jie Chen |
|
2011-12 |
Registered Capital |
usd 1,840,000 |
usd 828,000 |
|
Legal Representative |
Jay Jie Chen |
James Christopher Parham Frank |
|
|
Shareholder (s) (% of Shareholding) |
Kloeckner Pentaplast Hong Kong Limited |
Kloeckner Pentaplast Netherlands B.V. |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Kloeckner Pentaplast Netherlands B.V. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and
Chairman |
James
Christopher Parham Frank |
|
General Manager |
Jay Jie Chen |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Kloeckner Pentaplast Netherlands
B.V. 100
MANAGEMENT
James Christopher
Parham Frank, Legal Representative and Chairman
---------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2011 to present, working in SC as legal representative
and chairman
Jay Jie Chen, General Manager
-----------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2009 to 2011, worked in SC as legal representative and
chairman
From 2011 to present, working in SC as general manager
BUSINESS OPERATION
SC’s registered
business scope includes wholesaling, importing and exporting plastic film,
packaging materials and raw materials, providing related adequate and
systematic service and business consulting service.
SC is mainly
engaged in selling plastic film.
SC’s products
mainly include: plastic film.
SC sources its materials 100% from domestic
market, mainly Shanghai. SC sells 100% of its products in domestic market.
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.
Staff & Office:
--------------------------
SC is
known to have approx. 10 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
The bank
information of SC is not filed in SAIC.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
5,435 |
|
|
Notes receivable |
0 |
|
Accounts
receivable |
6,305 |
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Advances to
suppliers |
1,019 |
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Other receivable |
8,753 |
|
Inventory |
1,132 |
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Non-current
assets within one year |
0 |
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Other current
assets |
13 |
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------------------ |
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Current assets |
22,657 |
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Fixed assets |
21 |
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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 |
272 |
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------------------ |
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Total assets |
22,950 |
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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 |
12,134 |
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Advances from
clients |
2,311 |
|
Other payable |
1,040 |
|
Other current
liabilities |
1,853 |
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------------------ |
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Current
liabilities |
17,338 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
17,338 |
|
Equities |
5,612 |
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------------------ |
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Total
liabilities & equities |
22,950 |
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|
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
|
Revenue |
32,597 |
|
Cost of sales |
29,663 |
|
Sales expense |
1,109 |
|
Management expense |
412 |
|
Finance expense |
0 |
|
Profit before
tax |
1,267 |
|
Less: profit tax |
14 |
|
1,253 |
Important Ratios
=============
|
|
As
of Dec. 31, 2011 |
|
*Current ratio |
1.31 |
|
*Quick ratio |
1.24 |
|
*Liabilities
to assets |
0.76 |
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*Net profit
margin (%) |
3.84 |
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*Return on
total assets (%) |
5.46 |
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*Inventory /
Revenue ×365 |
13 days |
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*Accounts
receivable/ Revenue ×365 |
71 days |
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*
Revenue/Total assets |
1.42 |
|
* Cost of
sales / Revenue |
0.91 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is fairly good.
l
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
SC has no short-term loans in 2011.
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with
fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.41 |
|
UK Pound |
1 |
Rs.86.93 |
|
Euro |
1 |
Rs.68.10 |
INFORMATION DETAILS
|
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 |
|
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 |
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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 |
|
<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.