MIRA
INFORM REPORT
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Report Date : |
29.06.2012 |
IDENTIFICATION DETAILS
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Name : |
WENZHOU KINBO INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
12c, |
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Country : |
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Date of Incorporation : |
16.03.2012 |
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Com. Reg. No.: |
330303000091214 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
selling stainless steel pipe |
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No. of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Company |
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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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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
WENZHOU KINBO
INTERNATIONAL TRADE CO., LTD.
12C, ZHONGXING BUILDING, XINCHENG AVENUE,
WENZHOU,
ZHEJIANG PROVINCE 325000 PR CHINA
TEL: 86 (0) 577-89857766/89857767 FAX: 86 (0) 577-89857765
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 16, 2012
REGISTRATION NO. : 330303000091214
REGISTERED LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE : MS. JIANG LICHUN (CHAIRMAN)
STAFF STRENGTH : 5
REGISTERED CAPITAL :
CNY 2,080,000
BUSINESS LINE : TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : SUBJECT TO LONGER
PERIOD OF OBSERVATION
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 Limited Liability Company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Mar. 16, 2012.
Company Status: Limited
Liability Company 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 goods and
technology; import and export agent.
SC is mainly
engaged in selling stainless steel pipe and so on.
Ms. Jiang Lichun 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 Wenzhou.
SC’s management declined to release detailed information of the premise.
SC is not known to host website of its own at present.
According to SC’s staff, SC started its normal business in June of 2012.
No significant changes were found during our checks with local AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Feng Haiyan 30
Li Anda 30
Jiang Lichun 30
Ye Xiaojun 10
Legal Representative, Chairman and General manager:
Ms. Jiang Lichun 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:
……………
Li Anda
SC started its normal business in June of 2012.
SC is mainly
engaged in selling stainless steel pipe and so on.
SC’s products
mainly include stainless steel pipe.
SC sources its
products 100% from domestic market. SC sells 95% of its products to overseas
market and 5% in domestic 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 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.
Established recently on Mar. 16, 2012, SC’s financial reports are not
available at present.
Established recently on Mar. 16, 2012 and started its normal business in
June of 2012, SC’s credit has not been established yet. Credit dealings with SC
are recommended under secured terms.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.92 |
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UK Pound |
1 |
Rs.88.91 |
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Euro |
1 |
Rs.71.25 |
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.