MIRA
INFORM REPORT
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Report Date : |
09.06.2012 |
IDENTIFICATION DETAILS
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Name : |
KUNSHAN XINGXIN TEXTILE CO., LTD. |
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Registered Office : |
Room 5b-008,
No. 401, Middle Bailu Road, Yushan Town, Kunshan, Jiangsu Province, 215300 Pr
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Country : |
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Date of Incorporation : |
13.02.2007 |
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Com. Reg. No.: |
320583000157435 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Textiles |
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No. of Employees : |
05 |
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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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
kunshan xingxin textile CO., LTD.
ROOM 5B-008, NO.
401,
TEL: 86 (0)
512-57577089 FAX: 86 (0)
512-57577189
EXECUTIVE SUMMARY
INCORPORATION DATE : FEB. 13, 2007
REGISTRATION NO. :
320583000157435
REGISTERED LEGAL
FORM : Limited liabilities company
STAFF STRENGTH : 5
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE : TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.3211 = usd 1
Adopted
abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
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 Feb. 13, 2007.
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 textiles, wallpaper, textile
machinery, printing and dyeing machinery, excluding the items prohibited or need
pre-operating license by the legal and administrative regulations.
SC is mainly
engaged in selling textiles.
Ms. Zhu Yayu is
legal representative, chairman and general manager of SC at present.
SC is known to
have approx. 5 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Kunshan. Our
checks reveal that SC rents the total premise, but SC’s accountant refused to
release the gross area.
http://www.ksxxtex.com/ The design
is professional and the content is well organized. At present it is in English
version.
Email: richardai@ksxxtex.com
; rdanny@vip.sina.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Dai Chen 80
Zhu Yayu 20
Legal
representative, chairman and general manager:
Ms. Zhu Yayu, born in 1950, she 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:
Dai Chen
SC is mainly
engaged in selling textiles.
SC’s products mainly include: chenille yarn, chenille upholstery fabric,
metallic yarn, new items, etc.
SC sources its materials 100% from domestic
market. SC sells 10% of its products in domestic market, 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 refused 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.
SC declined to release
its banking 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 small-sized in its line with 5 years operation history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.36 |
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1 |
Rs.85.64 |
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Euro |
1 |
Rs.69.21 |
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.