MIRA
INFORM REPORT
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Report Date : |
22.03.2012 |
IDENTIFICATION DETAILS
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Name : |
SHAOXING SIGHT
IMP. & EXP. TRADE CO., LTD. |
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Registered Office : |
Room 709-710, The |
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Country : |
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Date of Incorporation : |
02.03.2006 |
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Com. Reg. No.: |
3306212108855 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling all kinds of textile embroidery products |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRAs 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 September 30, 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 and address
SHAOXING SIGHT
IMP. & EXP. TRADE CO., LTD.
ROOM 709-710, THE DIAMOND PLAZA, CHINA
TEXTILE CITY
INTERNATIONAL TRADE CENTER, KEQIAO, SHAOXING
COUNTY,
ZHEJIANG PROVINCE, 312030 PR CHINA
TEL: 86 (0) 575-84078559
FAX: 86 (0) 575-84078500
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 2, 2006
REGISTRATION NO. :
3306212108855
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. WU JIANFENG (CHAIRMAN)
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES : N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.3236 = 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 Liabilities Company at local Administration for Industry
& Commerce (AIC - The official body of issuing and renewing business
license) on March 2, 2006.
Company Status: Limited
liabilities co. 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.
SCs registered
business scope includes wholesaling and retailing: needle textiles, raw materials,
and clothing; importing and exporting goods (excluding products prohibited by
legal, administrative rules and regulations). (operating the limited products
with permit if needed)
SC is mainly
engaged in selling all kinds of textile embroidery products.
Mr. Wu
Jianfeng is legal representative,
chairman and general manager of SC at present.
SC is known to
have approx. 10 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shaoxing County. SCs management
declined to release detailed information of the premise.
http://www.sightcn.com The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
E-mail: sightcn@gmail.com
No significant events or changes were found during our checks with the local
Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Ding Yanyun 45
Wu Jiande 30
Wu Jianfeng 25
l
Legal Representative, Chairman and General Manager:
Mr. Wu Jianfeng is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative, chairman and general manager.
SC is mainly
engaged in selling all kinds of textile embroidery products.
SCs products
mainly include: spangle embroidery, chain embroidery, tower embroidery, cord
embroidery, and patch embroidery.
SC sources its materials 100% from domestic
market. SC sells 30% of its products in domestic market, and 70% to overseas
market, mainly Southeast Asia, Middle East, Germany, Russia, etc.
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 refused
to release its major suppliers and customers.
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.
At local AIC, the bank information of SC is not available.
SCs financial
reports were not found during our checks with the local Administration for
Industry and Commerce.
SCs management
declined to release any financial information.
SC is considered small-sized in its line with a development history of 6
years. 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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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 SCs 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.