MIRA
INFORM REPORT
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Report Date : |
01.06.2012 |
IDENTIFICATION DETAILS
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Name : |
QINGDAO XINGTAI CHEMICALS CO., LTD. |
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Registered Office : |
Chengyang Economic Development Zone, |
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Country : |
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Date of Incorporation : |
25.04.2011 |
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Com. Reg. No.: |
370214230054815 |
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Legal Form : |
One-Person
Limited Liability Company |
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Line of Business : |
Subject will be
mainly engaged in selling chemical products. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
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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
QINGDAO
XINGTAI CHEMICALS CO., LTD.
CHENGYANG ECONOMIC DEVELOPMENT ZONE,
QINGDAO,
SHANDONG PROVINCE, 266100 PR CHINA
TEL: 86 (0) 532-87767953 FAX: 86 (0) 532-87767953
EXECUTIVE SUMMARY
INCORPORATION DATE : APRIL 25, 2011
REGISTRATION NO. : 370214230054815
REGISTERED LEGAL FORM : ONE-PERSON
LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE : MR. MENG WEICHAO
(CHAIRMAN)
STAFF STRENGTH :
3
REGISTERED CAPITAL :
CNY 100,000
BUSINESS LINE : TRADING
TURNOVER :
N/A
EQUITIES : N/A
PAYMENT :
NOT YET DETERMINED
MARKET CONDITION :
FAIR
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : SUBJECT TO
LONGER PERIOD OF OBSERVATION
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.3331 = 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
SC was registered as one-person limited liability company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on April 25, 2011.
Company Status: One-person Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital of
Single person LLC is CNY100,000. The shareholder’s capital contributes, as
set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes wholesaling &
retailing chemical products (excluding hazardous chemicals); importing &
exporting commodities and technology.
SC is in the stage
of preparation now and has not started normal operation. According to SC’s
employee, SC will be mainly engaged in selling chemical products.
Mr. Meng Weichao is
the legal representative and chairman of SC at present.
SC is known to have approx. 3 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the development zone of
Qingdao. SC’s employee refused to release the detailed information of
the premise.
http://www.sdxingtai.com The
design is professional and the content is well organized. At present it is only
in English version.
E-mail: xingtai@sdxingtai.com
Note: SC is in the stage of preparation now and has not
started normal operation yet. According to SC’s employee, SC will be mainly
engaged in selling chemical products in both
domestic and overseas market.
The given ISO certificate and lading copy could not be
confirmed. SC’s vat no./sell tax no. and import-export code (IEC Code) are not
available at present.
MAIN SHAREHOLDERS:
Name % of Shareholding
Meng Weichao 100
Legal
representative and chairman:
Mr. Meng Weichao is currently
responsible for the overall management of SC.
Working
Experience(s):
At present Working
in SC as chairman and legal representative.
SC is in the stage
of preparation now and has not started normal operation. According to SC’s
employee, SC will be mainly engaged in selling chemical products.
SC is not known to have any subsidiary at
present.
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 banking details.
Established on April 25, 2011 and has not started normal operation, SC’s
financial information is not available in local AIC.
SC was established on April 25, 2011, and has not started normal
operation, so its credit has not been established yet.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.42 |
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UK Pound |
1 |
Rs.87.37 |
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Euro |
1 |
Rs.69.95 |
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.