MIRA
INFORM REPORT
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Report Date : |
28.06.2012 |
IDENTIFICATION DETAILS
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Name : |
XIAMEN NASEEM TRADE CO., LTD. |
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Registered Office : |
Room 1216, Strait Building, No. 9 Hubin East Road, Siming District, Xiamen, Fujian Province, 361008 Pr |
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Country : |
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Date of Incorporation : |
14.05.2008 |
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Com. Reg. No.: |
350200400014851 |
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Legal Form : |
Wholly Foreign-Owned |
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Line of Business : |
Subject is
engaged in selling yarns and fabric. |
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No. of Employees : |
15 |
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
XIAMEN NASEEM TRADE
CO., LTD.
ROOM 1216, STRAIT BUILDING, NO. 9 HUBIN EAST
ROAD, SIMING DISTRICT, XIAMEN, FUJIAN PROVINCE, 361008 PR CHINA
TEL: 86 (0)
592-5186629/5171226 FAX: 86 (0)
592-5812570
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 14, 2008
REGISTRATION NO. : 350200400014851
REGISTERED LEGAL
FORM : wholly foreign-owned enterprise
STAFF STRENGTH : 15
REGISTERED CAPITAL :
USD 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 6.36=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 wholly foreign-owned enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on May 14, 2008.
Company Status: Wholly foreign-owned enterprise. This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered business scope includes wholesaling, importing and
exporting electronic products, machinery and equipment, clothing, footwear,
stone, handicrafts, construction materials (excluding steel). (with permit if
needed)
SC is mainly
engaged in selling yarns and fabric.
Mr. Hussain Butt
is the legal representative and chairman of SC at present.
SC is known
to have approx. 15 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Xiamen. SC’s management declined to release detailed information of the premise.
http://www.xmnaseem.com/ The
design is professional and the content is well organized. At present the web
site is in English version.
E-mail: naseemtrade@sina.com
; office@xmnaseem.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Hussain Butt
100
Note: The nationality of the foreign individual is unspecified.
Legal
representative, Chairman and General manager:
Mr. Hussain Butt is currently responsible for
the overall management of SC.
Working Experience(s):
At present Worked in SC as legal representative, chairman and general manager.
Supervisor:
……………
Ke Jiangwei
SC is mainly
engaged in selling yarns and fabric.
SC’s products
mainly include 100% cotton yarn, fabric, etc.
SC sources its products
100% from overseas market, mainly Pakistan. SC sells 100% of its products in
domestic 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 and Credit of 30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
According to SC’s website:
Pakistan Office (Associated)
Add: H#21, St, No1 Taj Colony
Bank Stop Bata Pur Lahore Cantt. Pakistan P.C 53400
PH: +92-42-8701696
FX: +92-42-6580936
Mobile: +92-321-4237100
E-mail: butt@xmnaseem.com
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 development history of 4
years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.57.22 |
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UK Pound |
1 |
Rs.89.42 |
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Euro |
1 |
Rs.71.46 |
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.