MIRA
INFORM REPORT
|
Report Date : |
05.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
Cangzhou
Dagang Pipe Co., Ltd. |
|
|
|
|
Registered Office : |
Rm. 286, 296, 276, Bldg. 26, Xinyi
Sub District, Jianshe South Street, Xinhua
District, Cangzhou, Hebei Province, 061000 Pr |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
19.11.2007 |
|
|
|
|
Com. Reg. No.: |
130902000004923 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Engaged in
selling steel pipe and pipe fittings. |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No complaints |
|
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 and address
Cangzhou Dagang Pipe Co., Ltd.
rm. 286, 296, 276, bldg. 26, xinyi
sub district, jianshe south street,
xinhua district, cangzhou, hebei
PROVINCE, 061000 PR CHINA
TEL: 86 (0) 317-3046488
FAX: 86 (0) 317-3046488
EXECUTIVE SUMMARY
INCORPORATION DATE : nov. 19, 2007
REGISTRATION NO. : 130902000004923
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 10
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE : TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.29 = USD
Adopted
abbreviations:
ANS - amount not
stated
NS - not stated
SC - subject
company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
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 Nov. 19, 2007.
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.
SC’s registered
business scope includes selling steel pipe and pipe fitting; import and export
goods.
SC is mainly engaged
in selling steel pipe and pipe fittings.
Mr.
Liu Guogang 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 Cangzhou. Our
checks reveal that SC rents the total premise about 60 square meters.
http://www.dagangpipe.com/ The
design is professional and the content is well organized. At present it is only
in English version.
Email: sales01@dagangpipe.com
No significant events or changes were found during our checks
with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Gao Boling 50
Liu Guogang 50
l
Legal representative, Chairman and General manager:
Mr. Liu Guogang, about 37 years old, with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative, chairman and general manager.
l
Supervisor:
Gao Boling
Note: the given contact person Ms. Mary Zhang is
SC’s employee.
SC is mainly
engaged in selling steel pipe and pipe fittings.
SC’s products
mainly include: seamless steel pipe, pipeline pipe, spiral steel pipe,
galvanized steel pipe and so on.
SC sources its materials 100%
from domestic market. SC sells 30% of its products in domestic market, and 70%
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 customer and supplier
details.
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.
SC’s management
declined to release its bank details.
SC’s financial
reports were not found during our checks with the local Administration for Industry
and Commerce.
SC’s management declined to release any financial information.
SC
is considered small-sized in its line with a development history of 5 years. Credit dealings with SC should be confined into
small amount at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.72 |
|
|
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.64 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.