MIRA
INFORM REPORT
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Report Date : |
30.06.2012 |
IDENTIFICATION DETAILS
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Name : |
KANGFU MEDICAL EQUIPMENT FACTORY |
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Registered Office : |
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Country : |
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Date of Incorporation : |
25.03.1985 |
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Com. Reg. No.: |
330382000179142 |
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Legal Form : |
Shares Jointly Owned Enterprise |
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Line of Business : |
Manufacturing and selling medical equipment and health care products. |
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No. of Employees : |
100 |
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 and address
Kangfu Medical Equipment Factory
No. 380 Ningkang east Road, YUECHENG TOWN,
Yueqing City,
Zhejiang PROVINCE,
325600 PR CHINA
TEL: 86 (0)
577-62574219/62579668 FAX: 86 (0)
577-62579618
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 25, 1985
REGISTRATION NO. : 330382000179142
REGISTERED LEGAL FORM : SHARES JOINTLY OWNED ENTERPRISE
STAFF STRENGTH :
100
REGISTERED CAPITAL : cny 1,718,000
BUSINESS LINE :
Manufacturing & SELLING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.36= 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 Renminbi
Note: SC is also known as Yueqing Kangfu Medical Equipment
Factory.
SC was registered as a shares jointly owned enterprise at
local Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Mar. 25, 1985.
Company Status: Shares jointly owned enterprise This form of business in PR China is defined as a legal
person whose registered capital is mostly or wholly raised by
the staff members of the enterprise. Its shareholders consist of at
least 8 staff members, and the staff members that are not
shareholders should be less than 10% of the total staff members.
It operates as a cooperative, under democratic management, paying
salaries according to the achievements of staff members and distributing
its profit according the shares owned.
SC’s registered
business scope includes the second class of 6820 ordinary examination
equipment, the second category 6856 ward care equipment and apparatus (Medical
Device Manufacturing Enterprise License is valid until August 22, 2015); import
and export of goods and technology.
SC is mainly
engaged in manufacturing and selling medical equipment and health care
products.
Ms. Pan Xiangqin is the principal of SC at present.
SC is known
to have approx. 100 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Yueqing. Detailed
information of the premise is unspecified.
http://www.cocet.com.cn The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
E-mail: cocet@cocet.com.cn
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Jin Shengfang 46.45
Pan Xiangqin 53.55
l
Principal:
Ms. Pan Xiangqin is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working
in SC as principal.
SC is mainly
engaged in manufacturing and selling medical equipment and health care
products.
SC’s products mainly include:
· Digital
Thermometer Series
· Pedometer Series
· Digital sphygmomanometer
· Electronic Anti-Lost
· Digital Alcohol Tester
· Massage Machine Series
· Telephone Cord Untangler
· Pour by the medicine controller
· Urine fluid gathers bay
· Hospital call system
· Multi-function drip control instrument
· Ovulation Method Indicator
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 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.
No bank information
was found during our checks with the local Administration for Industry and
Commerce. And SC declined to release its banking details.
Investigations were made with the local AIC, but the financial records
were not available.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with a long 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.56.31 |
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1 |
Rs.88.06 |
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Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
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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 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.