MIRA
INFORM REPORT
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Report Date : |
13.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SHAOGUAN QIFENG IMPORT & EXPORT TRADING
CO., LTD. - |
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Registered Office : |
Room 201-202, 2/F, Tiyu Building, No. 3 Yuanqian East
Road, Zhenjiang District, Shaoguan, Guangdong Province, 512000 Pr |
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Country : |
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Date of Incorporation : |
11.05.2006 |
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Com. Reg. No.: |
440200000020974 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
selling home accessories and hardware
products. |
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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 : |
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
SHAOGUAN QIFENG IMPORT & EXPORT TRADING
CO., LTD.
ROOM 201-202, 2/F, TIYU BUILDING, NO. 3 YUANQIAN EAST ROAD, ZHENJIANG
DISTRICT, SHAOGUAN, GUANGDONG PROVINCE, 512000 PR CHINA
TEL: 86 (0) 751-8810818/8810838 FAX: 86 (0) 751-8810838/8899139
EXECUTIVE SUMMARY
INCORPORATION
DATE : MAY 11, 2006
REGISTRATION
NO. : 440200000020974
REGISTERED
LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF
STRENGTH : 5
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 :
FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : CNY 6.37= 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 limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on May 11, 2006.
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 import and export of various goods and technology, and providing
related after-sales service. (with permit if needed)
SC is mainly engaged in selling home
accessories and hardware products.
Liu Youlian is the legal representative and
chairman 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 Shaoguan. SC’s management
declined to release detailed information of the premise.
SC is
not known to host website of its own at present.
No significant
changes were found during our checks with local AIC.
MAIN SHAREHOLDERS:
Name % of Shareholding
Liu Youlian 10
Tian Guoan
90
Legal
representative and Chairman:
Liu Youlian is
currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and chairman
Supervisor:
……………
Ou Guanhua
SC is mainly engaged in selling home
accessories and hardware products.
SC’s products mainly include hardware,
scissors, kitchen utensils, etc.
SC sources its merchandise 100% from domestic
market. SC sells 30% of its products in domestic market and 70% to overseas
market, mainly Southeast Asia.
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 major 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’s management declined to release its banking information.
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 6 years development history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.05 |
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UK Pound |
1 |
Rs.86.69 |
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Euro |
1 |
Rs.69.98 |
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.