MIRA
INFORM REPORT
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Report Date : |
08.06.2012 |
IDENTIFICATION DETAILS
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Name : |
CHINA SDIC RESOURCES CO., LTD. |
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Registered Office : |
33/F, Jiali Mansion, No. 2, Lane 1228, Yan’an West Road, Changning District, Shanghai, 200052 Pr |
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Country : |
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Date of Incorporation : |
26.08.1994 |
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Com. Reg. No.: |
310115000229789 |
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Legal Form : |
Sole State-Owned |
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Line of Business : |
selling wool spinning and cotton spinning products |
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No. of Employees : |
50 |
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
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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
CHINA SDIC RESOURCES CO., LTD.
33/F, JIALI MANSION, NO. 2, LANE 1228,
YAN’AN WEST ROAD,
CHANGNING DISTRICT, SHANGHAI, 200052 PR
CHINA
TEL: 86 (0) 21-62816666 FAX:
86 (0) 21-62818625
EXECUTIVE SUMMARY
INCORPORATION DATE : AUG. 26, 1994
REGISTRATION NO. : 310115000229789
REGISTERED LEGAL FORM : SOLE
STATE-OWNED ENTERPRISE
STAFF STRENGTH : 50
REGISTERED CAPITAL : CNY 50,000,000
BUSINESS LINE : TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.33=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 Ren Min Bi
SC was registered as a sole state-owned enterprise at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Aug. 26, 1994.
Company Status: Sole state-owned enterprise This form of business in PR
China is defined as a commodity production or operational units of a
socialist character which in accordance with the law, has autonomy in
management, takes full responsibility for its profits and losses and
practices independent business accounting. It is a legal person established
directly by central / local government or enterprise owned by central or
local government. In theory, the liabilities of this form of enterprise are
ultimately borne by the government, since the adoption of company law in mid-1994,
the Chinese government has planned to separate the ownership from
management and liabilities bearing. The shareholders of this form
of limited liabilities company are State-owned Assets Supervision and
Administration Commission authorized by the State Council or local
Municipal Government. The regulation is set up by
State-owned Assets Supervision and Administration Commission, or by the
board of directors after approval of State-owned Assets Supervision and
Administration Commission. Sole state-owned enterprise
does not set up board of shareholders, which is replaced by State-owned
Assets Supervision and Administration Commission. State-owned Assets Supervision
and Administration Commission assign the board of directors.
SC’s registered business scope includes distribution of textile raw materials and accessories;
import and export of various goods and technologies, excluding the goods
forbidden by the government; trade and trade agency among enterprises in the
Free Trade Zone; storage in the Free Trade Zone; simple processing and
displaying in the Zone; trade consultancy services. (Business Operations in
restricted industries may be subject to special license.).
SC is mainly engaged in selling wool spinning and cotton spinning products.
Mr. Wu Huijun is the legal representative and chairman of SC at present.
SC is known to have approx. 50 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office in the commercial zone of Shanghai. The detailed premise information is unknown.
http://www.ctrcpd.com/ The design is professional and the content is well
organized. At present it is in both Chinese and English versions.
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of shareholdings
Sinotex Investment & Development Co., Ltd. 100
The company is a listed company in Shanghai
Stock Exchange Market with the code of 600061.
Registered no.: 310000000052733
Incorporation Date: May 13, 1997
Legal representative: Chang Junchuan
Registered Capital: CNY 429,082,940
Tel: 021-62818687
Fax: 021-62816868
Legal
Representative, Chairman and General Manager:
Mr. Wu Huijun is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as legal representative,
chairman and general manager.
l
Directors:
Xia Weijiang
Pu Ruihua
Yang Yueping
l
Supervisor:
Pan Chunfang
SC is mainly engaged in selling wool spinning and cotton spinning
products.
SC’s main products include: wool yarn, wool string, tencel, pure &
blended milk fiber, etc.
SC sources its materials 80% from domestic market, and 20% from overseas
market. SC sells 70% of its products in domestic market, and 30% to overseas
market.
The buying terms of SC include Check, T/T, L/C, 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 known to have the following subsidiaries and offices: (website sources)
Shanghai Salvadore Wool Co., Ltd.
STIC Logistics Co., Ltd.
Beijing Tongyizhong Specialty Fiber Technology & Development Co.,
Ltd.
Jiaxing Office
Tel.0573-2317128
Guangdong Office
Tel.0757-86780918
Fax.0757-81280489
Beijing office
Tel.010-67864678
Fax.010-67888121
Shandong Office
Tel.0538-8938515
Fax.0538-8938515
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.
SC’s management declined to release its bank
details.
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 medium-sized in its line with a development
history of 18 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.15 |
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UK Pound |
1 |
Rs.85.22 |
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Euro |
1 |
Rs.69.24 |
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.