MIRA
INFORM REPORT
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Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
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Name : |
FUZHOU VITTON IE CO., LTD. |
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Registered Office : |
10#, Room 904, |
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Country : |
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Date of Incorporation : |
07.05.2010 |
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Com. Reg. No.: |
350104100040360 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International
Trade |
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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 : |
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
FUZHOU VITTON I/E CO., LTD.
10#, ROOM 904,
International Mansion, No. 533,
Jinxiang Road,
Jinshan STREET, CANGSHAN DISTRICT,
FUZHOU, FUJIAN
PROVINCE, 350000 PR CHINA
TEL: 86 (0)
591-88203285 FAX: 86 (0) 591-88203250
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 7, 2010
REGISTRATION NO. : 350104100040360
REGISTERED LEGAL
FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 10
REGISTERED CAPITAL :
CNY 1,000,000
BUSINESS LINE : TRADING
TURNOVER : N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.34 = 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 a Limited liabilities co. at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on May 7, 2010.
Company Status: Limited
liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have pre-exemption right to
purchase shares of the co. offered for sale by the other shareholders and
to subscribe for the newly increased registered capital of the co.
SC’s registered
business scope includes importing and exporting goods and technologies, excluding
the items limited or prohibited by the state; wholesaling and shopping
consignment Textiles, garments, light industrial products (excluding dangerous
goods), paper, paper products, hardware (excluding electric bicycles),
handicrafts, machinery and equipment, electronic equipment, metal materials
(excluding precious metal), construction materials (excluding hazardous
chemicals), agricultural products (excluding eat food). (with permit if needed)
SC is mainly
engaged in international trade.
Mr. Wu Benhui is
legal representative, chairman and general manager 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 Fuzhou. Our checks reveal that SC
rents the total premise, but the gross area of the premise is unspecific.
http://www.vittontiles.com The
design is professional and the content is well organized. At present it is in
English version.
E-mail: challen@fjmqxy.cn ; admin@fjmqxy.cn
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wu Benhui 90
Xue Xia 10
Legal
Representative, Chairman
and General Manager:
Mr. Wu Benhui is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as legal representative, chairman and general manager.
Supervisor:
Xue Xia
SC is mainly
engaged in international trade.
SC’s products
mainly include: lamp holders, LED tube, LED spotlight, LED bulb light, LED down
light, LED strip, porcelain products, and etc.
SC sources its materials 100% from domestic
markets. SC sells 10% of its products in domestic markets, and 90% to overseas
market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note: SC’s management declined to release its main clients and
suppliers.
SC is not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) 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: 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.
At local AIC, the bank information of SC is not available.
SC’s financial
reports were not found during our checks with the local Administration for
Industry and Commerce.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a short history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.92 |
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UK Pound |
1 |
Rs.86.03 |
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Euro |
1 |
Rs.69.13 |
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 |
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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.