MIRA
INFORM REPORT
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Report Date : |
05.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MERCI GLOBAL
LOGISTICS (BEIJING) CO., LTD. |
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Registered Office : |
16-7-301, Ruyili, Xicheng District, Beijing 100035 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
03.09.2008 |
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Com. Reg. No.: |
110105011306376 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Engaged in international road freight
forwarding |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s 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 : |
Unknown |
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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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
MERCI GLOBAL LOGISTICS (BEIJING) CO., LTD.
16-7-301, RUYILI, XICHENG DISTRICT,
BEIJING 100035 PR CHINA
TEL: 86 (0) 10-62279483
FAX: 86 (0) 10-58850646
EXECUTIVE SUMMARY
INCORPORATION DATE : SEP. 3, 2008
REGISTRATION NO. : 110105011306376
REGISTERED LEGAL FORM : One-person Limited
Liability Company
STAFF STRENGTH :
5
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE :
LOGISTICS
TURNOVER :
CNY 529,000 (AS OF DEC. 31,
2009)
EQUITIES :
CNY 2,002,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.30= 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 Renminbi
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image001.gif){kind=small}
SC was registered as a One-person Limited Liability
Company at local Administration for Industry & Commerce (AIC - The official
body of issuing and renewing business license) on Sep. 3, 2008.
Company Status: One-person
Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s
registered business scope includes international road freight forwarding; international trade; storage service.
SC is mainly
engaged in international road freight
forwarding.
Mr. Xue Qi has
been legal representative and chairman of SC since 2010.
SC is known to
have approx. 5 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Beijing. The
detailed information of the area is unspecified.
Note: SC’s employee released that SC has an office located in the given address “Building 4, No. 2005, Hongmei Road, Xuhui District, Shanghai”.
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image002.gif){kind=small}
SC is not known to host website of its own at present.
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image003.gif){kind=small}
Changes of its registered
information:
|
Date of change |
Item |
Before the change |
After the change |
|
2010-6 |
Legal representative |
Wu Meijin |
Present one |
|
Shareholder |
Wu Meijin 100% |
Present one |
The information from local AIC indicated that SC started its normal
operation in Dec. of 2008.
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image004.gif){kind=small}
MAIN SHAREHOLDERS:
Name
% of Shareholding
Xue Qi 100
ID# 110108198604151319
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image005.gif){kind=small}
l
Legal representative, chairman and general manager:
Mr. Xue Qi, ID# 110108198604151319, born in 1986, with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2010 to present Working in SC as legal representative, chairman and
general manager.
Supervisor:
========
Ms. Zhang Yongli, ID# 110108196807206448
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image006.gif){kind=small}
The information from local AIC indicated that SC started its normal
operation in Dec. of 2008.
SC is mainly
engaged in international road freight
forwarding.
The buying terms of SC include Check, T/T, L/C 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 declined to release its major suppliers and clients.
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image007.gif){kind=small}
SC
is not known to have any subsidiary at present.
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image008.gif){kind=small}
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.
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image009.gif){kind=small}
The bank information
is not available at local AIC.
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image010.gif){kind=small}
Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
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Cash & bank |
47 |
137 |
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Inventory |
0 |
0 |
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Accounts
receivable |
51 |
50 |
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Advances to
suppliers |
966 |
906 |
|
Other
receivables |
900 |
896 |
|
Prepaid expenses |
33 |
30 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
1,997 |
2,019 |
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Fixed assets net
value |
4 |
2 |
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Intangible and
other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
2,001 |
2,021 |
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=========== |
=========== |
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Short loan |
0 |
0 |
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Accounts payable |
0 |
18 |
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Advances from
clients |
0 |
0 |
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Taxes payable |
1 |
1 |
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Other Accounts
payable |
0 |
0 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
1 |
19 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
1 |
19 |
|
Equities |
2,000 |
2,002 |
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------------------ |
------------------ |
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Total
liabilities & equities |
2,001 |
2,021 |
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=========== |
=========== |
Income Statement
Unit: CNY’000
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As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
|
Turnover |
116 |
529 |
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Cost of goods sold |
105 |
459 |
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Sales expense |
0 |
6 |
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Management expense |
9 |
56 |
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Finance expense |
1 |
1 |
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Profit before tax |
0.23 |
3 |
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Less: profit tax |
0.05 |
1 |
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Profits |
0.18 |
2 |
Important
Ratios
=============
|
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As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
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*Current ratio |
1,997 |
106.26 |
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*Quick ratio |
1,997 |
106.26 |
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*Liabilities
to assets |
0.0005 |
0.01 |
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*Net profit
margin (%) |
0.16 |
0.38 |
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*Return on
total assets (%) |
0.01 |
0.10 |
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*Inventory
/Turnover ×365 |
0 |
0 |
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*Accounts
receivable/Turnover ×365 |
160 days |
34 days |
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*Turnover/Total
assets |
0.06 |
0.26 |
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* Cost of
goods sold/Turnover |
0.91 |
0.87 |
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image011.gif){kind=small}
PROFITABILITY:
AVERAGE
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The turnover of SC appears fair in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is average, comparing with
its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
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SC has no inventory in both years.
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The accounts receivable of SC appears average.
l
SC has no short-term loan in both years.
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SC’s turnover is in a fair level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
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The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
%20CO%20,%20LTD%20%20-%20178155%2005-May-2012_files/image012.gif){kind=small}
SC is considered small-sized in its line with fairly stable financial
conditions. The given credit amount would appear to be beyond SC’s capacities,
while a credit line up to USD 2,000 is recommended.
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
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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 |
|
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 |
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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 |
-- |
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.