MIRA
INFORM REPORT
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Report Date : |
07.05.2012 |
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IDENTIFICATION DETAILS
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Name : |
XIAMEN RICHES FIRM INTERNATIONAL CO., LTD. |
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Registered Office : |
Room 32a, No. 2 Tong’an Road, Siming District, Xiamen, Fujian Province, 361003 Pr |
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Country : |
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Date of Incorporation : |
28.02.2000 |
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Com. Reg. No.: |
350200200028448 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling
Electromechanical Products |
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No. of Employees : |
10 |
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 – March 31st, 2012
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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 & address
Xiamen riches firm international
co., ltd.
Room
fujian province,
361003 PR CHINA
TEL: 86 (0)
592-2180890 FAX: 86 (0) 592-2185397
EXECUTIVE SUMMARY
INCORPORATION DATE : february 28, 2000
REGISTRATION NO. : 350200200028448
REGISTERED
LEGAL FORM : LIMITED liabilities
COMPANY
STAFF
STRENGTH : 10
REGISTERED CAPITAL :
CNY 1,100,000
BUSINESS LINE : TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : 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
Note: The given address (No. 10, Gujianong, Ningbo Road, 200001 Shanghai China), tel. number (86-21-63524768) and fax number (86-21-33763765) belong to SC’s Shanghai branch.
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 February 28, 2000.
Company Status: Limited Liabilities Company 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 importing and exporting commodities and technologies, excluding the
goods controlled to export by the government and the goods controlled to import
by the companies with authorization from the government; processing trade business (counter trade and transit trade).
SC is mainly engaged in selling electromechanical products.
Mr. Pan Jianhua is the 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 commercial zone of Xiamen. SC’s
employee
refused to release the detailed information of the premise.
http://xiamenriches.tradeindia.com/ The design is professional and the content is
well organized. At present it is in Chinese, English and other versions.
Email: 13606060802@163.com
No significant events or changes were found
during our checks with local AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Chen Qinglian 10
Pan Jianhua 90
Legal
representative, chairman and general manager:
Mr. Pan Jianhua is
currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman and general manager
Supervisor:
Zhu Ji’e
SC is mainly
engaged in selling electromechanical products.
SC’s products mainly include: water pumps,
valves, hardware, instruments, meters and so on.
SC sources its materials 20%
from domestic market, and 80% from overseas market. SC sells 30% of its
products in domestic market, and 70% to overseas market.
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’s management declined to release its major suppliers and
customers.
Shanghai Branch:
Address:
No. 10 Gujianong, Ningbo
Road, Huangpu District, Shanghai, 200001 PR China.
Tel:
86-21-63524768
Fax:
86-21-33763765
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 12 years operation history.
Credit dealing with SC shall 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.53.72 |
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UK Pound |
1 |
Rs.86.98 |
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Euro |
1 |
Rs.70.65 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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.