MIRA
INFORM REPORT
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Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
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Name : |
HANGZHOU GRASCENT CO., LTD. |
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Registered Office : |
Mamu-Nanfeng Hi-Tech Industrial Zone, |
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Country : |
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Date of Incorporation : |
23.12.1999 |
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Com. Reg. No.: |
330182000011297 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing and selling aromatic chemicals |
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No. of Employees : |
200 |
RATING & COMMENTS
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MIRAs 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 an address
Hangzhou Grascent Co., Ltd.
Mamu-Nanfeng
Hi-tech Industrial zone, meicheng town,
Jiande, hangzhou,
Zhejiang PROVINCE, 311604 PR CHINA
TEL: 86 (0) 571- 64135386 FAX:
86 (0) 571- 64797800
EXECUTIVE SUMMARY
INCORPORATION DATE : dec. 23, 1999
REGISTRATION NO. : 330182000011297
REGISTERED LEGAL FORM : SHARES LIMITED COMPANY
STAFF STRENGTH :
200
REGISTERED CAPITAL : CNY 51,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.37 = 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 Renminbi
SC was registered as a Shares limited co. at local Administration for
industry & commerce (AIC - the official body of issuing and renewing
business license) on Dec. 23, 1999.
Company Status: Shares limited co. This form of business in PR China
is defined as a legal person. Its registered capital is divided into shares
of equal par value and the co. raises capital by issuing share certificates
by promotion or by public offer. Shareholders bear limited liability to the
extent of shareholding, and the co. is liable for its debts only to the
extent of its total assets. The co has independent property of legal person
and enjoys property rights of legal person. The characteristics of
the shares limited co. are as follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be domiciled
in The minimum registered capital
of a co. is CNY The board of directors must
consist of five to nineteen directors. If the co.
raises capital by public offer, the promoters must not subscribe less than
35% of the total shares. the promoters shares are restricted to transfer-
within one year of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SCs registered
business scope includes manufacturing series products of aromatic chemicals and
hazard chemicals. Selling aromatic chemicals (excluding the hazard chemicals and
precursor chemicals); purchasing crude oil of essential oils and essential oil;
technology development, services and transfer; import and export goods.
SC is mainly
engaged in manufacturing and selling aromatic chemicals.
Mr.
Lu Wencong is legal representative,
chairman and general manager of SC at present.
SC is known to have approx. 200 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the hi-tech industrial zone of Jiande. The
detailed information of the premise is unspecified.
http://www.grascent.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email: Hac@hangzhougrascent.com
SC was formerly named Hangzhou Aroma Chemical Company and adopted
present name in Mar. of 2011.
SCs quality system meets the international standards of ISO 9001.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Chen Dongxia 14.40
Chen Jiade 12.53
Xu Ping 0.75
Cai Xuanmin 1.67
Lu Wencong聪 40.58
Hangzhou Hengfutong Industrial Co., Ltd. 2.50
Hu Jianliang 胡 1.50
Hangzhou Qianjiang Small and Medium
Enterprises Venture Capital Co., Ltd. 8.33
Chen Bin 4.16
Chen Weiqin 0.75
Hangzhou Lingfeng Saibole Venture Capital
Partnership (Limited Partnership)
8.33
Fang Ajian 0.75
Hong Ganming 1.50
Gao Feng 1.50
Ye Jianfei 0.75
l
Legal representative, Chairman and General manager:
Mr. Lu Wencong 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:
Fan Yupeng
Su Weike
Li Mingyang
l
Supervisors:
Yu Wenfeng
Chen Guixia
SC is mainly
engaged in manufacturing and selling aromatic chemicals.
SCs products
mainly include: aromatic chemicals.
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: SCs management declined to release its customer and supplier
details.
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.
SCs management
declined to release its bank details.
SCs financial reports
were not found during our checks with the local Administration for Industry and
Commerce.
SCs management declined to release any financial information.
SC is considered
medium-sized in its line with a development history of 13 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.85 |
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1 |
Rs.86.88 |
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Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 SCs 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.