MIRA INFORM REPORT

 

 

Report Date :           

01.03.2012

 

IDENTIFICATION DETAILS

 

Name :

WING MAU TRADING COMPANY LIMITED

 

 

Registered Office :

1-4/F, Foodstuff Warehouse Of Meiyuan Road, Shenzhen, Guangdong Province 518023 Pr

 

 

Country :

China

 

 

Date of Incorporation :

15.12.1994

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

importing and exporting native products and animal by-products

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Not Registered in China

 

 

Payment Behaviour :

---

 

 

Litigation :

---

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

China

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

WING MAU TRADING COMPANY LIMITED

1-4/F, FOODSTUFF WAREHOUSE OF MEIYUAN ROAD

SHENZHEN, GUANGDONG PROVINCE 518023 PR CHINA

TEL:     86 (0) 755-25182988/25928988-666

FAX:     86 (0) 755-25182258

 

 

CHECK ON SC’S REGISTERED TELEPHONE LINE

 

²        According to the given English name, we found the below contact ways,

 

TEL: 86 (0) 755-25182988

FAX: 86 (0) 755-25182258

 

When we dialed the above telephone number, a lady answered the phone. She told us the telephone number of their international business department (86 (0) 755-25928988-666). We dialed this number, and the other lady answered. She admitted the English name, and told us the Chinese name in translation is “荣懋贸易有限公司”, which is registered in Hong Kong, and mainly operates in Shenzhen, Guangdong Province PR China.

 

²        The lady introduced the below information,

 

A.      SC is mainly engaged in importing and exporting native products and animal by-products.

 

The products mainly include,

Canned Food

Dried & Preserved Food

Fruits

Fruits & Vegetables

Fruits & Vegetables - Dried

Health Food

Medicinal Herbs & Dietary Supplement Products

Mushroom - Canned

Nut - Dried

Seafood - Frozen

Vegetables

 

B.      SC sources its materials 70% from overseas market, and 30% from domestic market. SC sells 80% of its products in domestic market, mainly Shenzhen, and 20% to overseas market.

 

C.      Its related companies are: Golden Wing Mau Agricultural Produce Co., Ltd. & Golden Wing Mau Enterprise Development Co., Ltd.

 

 

 

 

 

 

SPOT VISIT

 

1-4/F, Foodstuff Warehouse Of Meiyuan Road, Shenzhen, Guangdong Province 518023 PR China

 

According to the lady, SC locates in the heading address at present.

 

 

REGISTRATION

 

According to the Chinese name the lady released, a research was conducted with Shenzhen municipal and Guangdong Provincial Administration of Industry & Commerce (the official body of issuing and renewing business license), but no record of SC was found.

 

During our check with Hong Kong Registry, we found the following registration about SC,

 

Company Name                       : Wing Mau Trading Company Limited

Company File No.                    : 0500731

Date of Registration                 : December 15, 1994

Legal Form                              : Private

Status                                      : Live

 

 

CONCLUSIONS

 

SC is considered small-sized in its line with long business history. Credit dealings with SC should be confined into small amount at present.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.94

UK Pound

1

Rs.77.95

Euro

1

Rs.65.94

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.