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Report Date : |
04.05.2012 |
IDENTIFICATION DETAILS
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Name : |
FUZHOU HONGLONG OCEAN FISHING CO., LTD. |
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Registered Office : |
19 Fl, Tower A, Zhongshan Building, No.154, Hudong Rd, Gulou Dist, Fuzhou City, Fujian Province 350001 |
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Country : |
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Date of Incorporation : |
01.01.1995 |
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Com. Reg. No.: |
350100100060402 |
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Legal Form : |
Limited Liabilities
Company |
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Line of Business : |
Ocean fishing. |
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No. of Employees : |
300 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
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FUZHOU HONGLONG OCEAN FISHING CO., LTD. |
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19 Fl, Tower A, Zhongshan Building, No.154, Hudong Rd, Gulou Dist, Fuzhou City, Fujian Province. |
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350001 |
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Tel : |
86 591 87275291 |
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Fax: |
86 591 87276590 |
Currency in this report is Chinese Yuan unless
otherwise stated.
Exchange Rate: 1 USD=6.28 Chinese Yuan
"--"in this report indicates
"unavailable" due to insufficient information or "no
comments"
Notes:
1.
Due to the
recent intervention of government in the AIC systems, reports of companies in some
regions could be impacted for a certain period, and for the companies
registered in Fujian, registration, shareholder,
director and financial information couldn’t be obtained. All the information in
the report is from public channels and telephone investigation.
2.
According
to SC’s staff, SC is a large-sized industry in the
local industry.
3.
The
address provided in the order has no relationship with SC.
4.
The
telephone number (86 591 87276590) is SC’s fax number.
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DATE OF establishment |
Jan 1st, 1995 |
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Aic Registration No. |
350100100060402 |
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REGISTERED LEGAL FORM |
limited liabilities
company |
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main BUSINESS |
Ocean fishing. |
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SIC Code (China) |
0412 Ocean fishing. |
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employees |
300 |
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import and export permits |
yes |
|
business scale |
Medium |
|
operation trend |
Average |
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EXCHANGE RATE |
1 Usd=6.28CNY (APR 28th, 2012) |
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Name |
FUZHOU HONGLONG OCEAN FISHING CO., LTD. |
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AIC Registration Number |
350100100060402 |
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Registered address |
17 Fl, Yinhe Huayuan
Hotel, No.243, Wusi Rd, Fuzhou
City, Fujian Province. |
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Operation address |
19 Fl, Tower A, Zhongshan Building, No.154, Hudong Rd, Gulou Dist, Fuzhou City, Fujian Province. |
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Date of Establishment |
Jan 1st, 1995 |
|
Registry |
Administration Bureau of Industry and Commerce –
Fuzhou City |
|
Legal Representative |
Zhuo Longhao |
Limited liabilities co.
This form of business in PR China is defined as a legal
person. Its registered capital is contributed jointly by at least two
shareholders and no more than fifty. 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 listed
as follows:
-manufacturing co. :
RMB 500,000.00
-trading &wholesaling co. :
RMB 500,000.00
-retailing co. : RMB 300,000.00
-consultancy & service co. :
RMB 100,000.00
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 50% of the registered capital while contribution by intangible
assets must not exceed 20% 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.
REGISTRATION INFO: AVAILABLE
FINANCIAL REPORTS: AVAILABLE
N/A
No
affiliates of subject company is found after checking.
.
|
Name |
Zhuo Longhao |
|
Title |
Legal Representative |
SC’s
bank information can’t be obtained after searching through all available
channels.
|
Geographic Location |
19 Fl, Tower A, Zhongshan Building, No.154, Hudong Rd, Gulou Dist, Fuzhou City, Fujian Province. |
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Area |
1500 square meters |
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Environment and traffic |
Acceptable |
|
Property Ownership |
Rented |
After checking with the Trademark
Office of Chinese Administration Bureau of Industry and Commerce, no trademarks
of SC were found.
After checking with the State Intellectual Office, no
patents of SC were found.
|
Main business |
Ocean fishing. |
|
Products and services |
SC mainly deals with ocean fishing business.
The fish SC catches include hairtail, sierra,
conger pike, kelisa, yellow croaker, red porgy,
butterfish, sleeve-fish, cuttlefish, etc. SC has over 60 fishing boats and
can catch over 90,000 tons of fish per year. |
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Local sales |
80% |
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Regions |
All
over China |
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Major domestic clients |
Fish market,
food processing factories, food traders, etc. |
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Payment terms |
Prompt payment; on credit |
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Export |
20% |
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Regions |
Taiwan,
Hong Kong, Asia, etc. |
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Major overseas clients |
M
& M Footwear Inc, etc. |
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Payment terms |
L/C, T/T |
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The fish SC catches are mainly
sold to domestic food processing factories, food traders, fish markets, etc.
With long history, it has developed perfect marketing channels and has stable
clients. |
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The above information was
confirmed by SC’s employee on APR.28th, 2012. |
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Main Commodities Purchased |
Fishing boats, fishing tools, fishing
equipments, etc. |
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Region |
Local: 30% Import: 70% |
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Number of Major Suppliers |
More than 3 |
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Major suppliers |
-- |
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Main Terms of Payment |
Local: Prompt payment; on
credit InternationalL/C,
T/T |
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SC established ocean fishing bases in
Indonesia, Pakistan, etc and deals with fishing business in these bases. |
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The above information was confirmed by SC’s employee
on APR.28th, 2012. |
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SC’s staff is cautious about its supplier
information and refused to disclose names of suppliers due to the company
secrecy. Hence no comment from the suppliers can be provided in the
report.
After checking with China Court organization,
the local court website and other major searching websites, no litigation
record related to subject company in the latest three years is found.
N/A
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.23 |
|
|
1 |
Rs.86.14 |
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Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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 |
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.