MIRA
INFORM REPORT
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Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
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Name : |
WUXI NOVEL SPECIAL ALLOY CO., LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
04.03.1992 |
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Com. Reg. No.: |
320200400000493 |
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Legal Form : |
Chinese Foreign Equity Joint Venture Enterprise |
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Line of Business : |
Manufacturing and selling special alloys and its products. |
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No. of Employees : |
80 |
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 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 and address
WUXI NOVEL SPECIAL
ALLOY CO., LTD.
LIXI ROAD, BINHU DISTRICT,
WUXI, JIANGSU PROVINCE, 214072 PR CHINA
TEL: 86 (0)
510-81888911/85110897 FAX: 86 (0)
510-85898337
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 4, 1992
REGISTRATION NO. : 320200400000493
REGISTERED LEGAL FORM : CHINESE FOREIGN EQUITY JOINT VENTURE ENTERPRISE
STAFF STRENGTH :
80
REGISTERED CAPITAL : USD 510,000
BUSINESS LINE :
manufacturing
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.31= 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
Chinese foreign equity joint
venture enterprise at local Administration for Industry & Commerce
(AIC - The official body of issuing and renewing business license) on Mar. 4, 1992.
Company Status:
Chinese-foreign equity joint venture enterprise This form of business in PR
China is defined as a legal person. It is a limited co. jointly invested by
one or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of
capital investment. The investing parties exercise business management,
share profits and bear all risks and liabilities of the co. together. The
equity joint venture law requires that foreign party contribute not less
than 25% of the registered capital, with no maximum. The investing parties
are free to agree on method of profit distribution and liabilities bearing
according to the proportion of capital investment. Each investing parties
contributes funds, tangible assets, technology & etc. The board of
directors excises the high authority. The joint venture usually has a
limited duration of 10 to 50 years. Enterprise with large investment, long
construction periods, low investment returns, introducing of advanced
technology & advanced technology products that have good competition
position in international market may extend beyond the 50 years limit.
SCs registered business scope includes manufacturing special alloys and
its products (with permit if needed).
SC is mainly
engaged in manufacturing and selling special alloys and its products.
Mr. Jiang Xiemin
is the legal representative and chairman of SC at present.
SC is known
to have approx. 80 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Wuxi. SCs management
declined to release the detailed information of the premise.
SC is not known to host website of its own at present.
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wuxi Novel Special Metal Co., Ltd. 65
Novel Technology Development Ltd. (Hong
Kong) 35
Wuxi Novel Special Metal Co., Ltd.
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Website: http://www.wxnovel.com/
Tel: +86-510-85898101
Fax: +86-510-85898101
l
Legal representative and Chairman:
Mr. Jiang Xiemin , born in 1952, he is currently responsible for the
overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman
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General manager:
Mr. Zhu Yuming is currently responsible for the daily
management of SC.
Working Experience(s):
At present Working
in SC as general manager
Directors:
..
Zhu Jianjia
Lu Qingjie
Zhu Yuming
SC is mainly
engaged in manufacturing and selling special alloys and its products.
SCs products
mainly include: cover nodulants, inoculants, cored-wires and ductile iron
castings for vehicles.
SC sources its
materials 100% from domestic market. SC sells 70% of its products to the
overseas market, mainly Korea, Japan, India, Malaysia,
and Taiwan area, and 30% in domestic 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:
SCs management declined to release its major clients and suppliers.
According
to the above website:
Wuxi
Novel Special Alloy Co., Ltd. Shanghai Office
Tel:
021-56776322
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.
SCs management
declined to release its banking information.
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
20 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.71 |
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1 |
Rs.86.34 |
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Euro |
1 |
Rs.69.22 |
INFORMATION DETAILS
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Report Prepared
by : |
PRL |
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.