MIRA INFORM REPORT
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Report Date : |
22.03.2012 |
IDENTIFICATION DETAILS
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Name : |
CHITEX FASHION CO., LIMITED |
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Registered Office : |
Room 1622, Building B, New Century Plaza, No. 1 Kexiang, Baixia District, Nanjing, Jiangsu Province 210002 Pr |
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Country : |
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Date of Incorporation : |
07.05.2007 |
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Legal Form : |
Private Company with limited Liability |
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Line of Business : |
Exporting textiles and garment |
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No. of Employees
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Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Not Registered in |
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Payment
Behaviour : |
Unknown |
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Litigation : |
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
CHITEX FASHION CO., LIMITED
ROOM 1622, BUILDING B, NEW CENTURY PLAZA, NO. 1 KEXIANG
BAIXIA DISTRICT, NANJING, JIANGSU PROVINCE 210002 PR CHINA
TEL: 86 (0) 25-83202480
FAX: 86 (0) 25-83202515
Adopted abbreviations
(as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
NY – China Yuan Ren
Min Bi
CHECK ON SC’S REGISTERED
TELEPHONE LINE
²
According
to the given English name, we found the below contact ways,
TEL: 86 (0)
25-83202480
FAX: 86 (0) 25-83202515
When we dialed the above telephone number, a lady answered
the phone. She admitted the given English name, and told us the Chinese name in
translation is “逸尚纺织品有限公司”,
which is registered in Hong Kong, and mainly operates in Nanjing, Jiangsu
Province PR China.
²
The lady
introduced the below information,
A.
SC is mainly engaged in exporting
textiles and garment.
The
products mainly include,
Garment
Gloves
Socks
Ties
Etc.
B.
SC sources its materials 100% from domestic market,
mainly Jiangsu. SC sells 100% to overseas market, mainly Southeast Asia.
C.
SC’s website: www.chitex.cn,
and the e-mail is fangchi@chitex.cn.
SPOT VISIT
Room
1622, Building B, New Century Plaza, No. 1 Kexiang, Baixia District, Nanjing,
Jiangsu Province 210002 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 Nanjing municipal and Jiangsu
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: Chitex Fashion Co., Limited
Company
File No.: 1130245
Date of
Registration: May 7, 2007
Legal
Form: Private
Status: Live
CONCLUSIONS
SC is considered small-sized in its line with 5 years business history.
Credit dealings with SC should be confined into small amount at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.59 |
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UK Pound |
1 |
Rs.80.34 |
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Euro |
1 |
Rs.67.14 |
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.