MIRA
INFORM REPORT
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Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
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Name : |
ROY INDUSTRY & RESOURCE CO., LTD. |
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Registered Office : |
13/F, No. 3, Lane 313, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.06.2002 |
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Com. Reg. No.: |
310109000306914 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International
Trade |
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No. of Employees : |
15 |
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
ROY
INDUSTRY & RESOURCE CO., LTD.
13/f, no. 3, lane
313, ningguo road, shanghai, 200090 PR CHINA
TEL: 86 (0)
21-51696659 FAX: 86 (0)
21-55807113
EXECUTIVE SUMMARY
INCORPORATION DATE : june 3, 2002
REGISTRATION NO. : 310109000306914
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
15
REGISTERED CAPITAL : CNY 4,500,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 93,190,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 4,230,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : Fairly stable
OPERATIONAL TREND : Fairly STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.3131 = 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: SC’s correct name should be the heading one.
SC was registered as a limited liabilities co. at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on June 3, 2002.
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 paper (Outward processing), printed materials, knitwear
and textiles, mechanical and electrical equipment, metal materials,
communications equipment (excluding satellite ground receiving device);
Business Information Consulting, importing and exporting commodities and
technology (not attach products catalog additionally), excluding the items
prohibited or limited by the country, parts printing (limited to branch).
SC is mainly
engaged in international trade.
Ms. Zhang Qing is
legal representative and chairman of SC at present.
SC is known to
have approx. 15 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shanghai. SC’s
employee
refused 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
Ma Wenhua 3.33
Wen Li 3.56
Pan Genchen 3.33
Yu Pu 3.33
Hong Wei 0.67
Liang Peiming 0.67
Xia Bin 4.22
Zhou Rongde 6.22
Zhang Aili 6.67
Guo Jingru 1.11
Ji Zengrong 4.22
Ma Chunhua 4.45
Yang Junjing 1.33
Zhang Qing 35.33
Liu Xiaoxiang 2.22
Rao Jing L 1.11
Zhuang Huimin 16.67
Zhu Haoqing 1.56
Legal
representative and chairman:
Ms. Zhang Qing, is currently responsible for the overall management of
SC.
Working Experience(s):
At present Working in SC as legal representative and chairman.
Also working in Roy Paper & Printing Resource Co., Ltd. as legal representative.
Supervisor:
Zhang Yanhua
SC is mainly
engaged in international trade.
SC’s products mainly include: paper, printed materials, textiles, hats,
etc.
SC sources its materials 100% from domestic
market. SC sells 10% of its products in domestic market, and 90% 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 refused to release its
main clients and suppliers.
SC is known to invest in the following companies:
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· Roy Paper & Printing Resource Co., Ltd.
Shanghai
Rongpan Information Technology Co., Ltd.
Branch:
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· Roy Industry & Resource Co., Ltd. Branch
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 declined to
release its banking details.
Balance Sheet
Unit: CNY’000
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As of Dec. 31, 2011 |
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Cash & bank |
1,240 |
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Inventory |
3,450 |
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Bills receivable |
0 |
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Accounts
receivable |
4,440 |
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Other Accounts
receivable |
860 |
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Advances to
suppliers |
0 |
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Trading
financial assets |
530 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
10,520 |
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Fixed assets net
value |
2,490 |
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Long-term
investment |
860 |
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Intangible and
other assets |
0 |
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Total assets |
13,870 |
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============= |
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Short loans |
500 |
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Accounts payable |
9,540 |
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Advance from
customers |
0 |
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Other Accounts
payable |
0 |
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Notes payable |
0 |
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Taxes payable |
-400 |
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Withdraw the
expenses in advance |
0 |
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Other current
liabilities |
0 |
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9,640 |
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Long term
liabilities |
0 |
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Other
liabilities |
0 |
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Total
liabilities |
9,640 |
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Equities |
4,230 |
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13,870 |
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Income Statement
Unit: CNY’000
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As of Dec. 31, 2011 |
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Turnover |
93,190 |
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Cost of goods sold |
100,650 |
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Taxes and additional of main
operation |
20 |
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Sales expense |
4,190 |
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Management expense |
240 |
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Finance expense |
710 |
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Non-operating
income |
12,690 |
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Non-operating expense |
0 |
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Profit before
tax |
64 |
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Less: profit tax |
14 |
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Profits |
50 |
Important Ratios
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As
of Dec. 31, 2011 |
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*Current ratio |
1.09 |
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*Quick ratio |
0.73 |
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*Liabilities
to assets |
0.70 |
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*Net profit
margin (%) |
0.05 |
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*Return on
total assets (%) |
0.36 |
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*Inventory
/Turnover ×365 |
14 days |
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*Accounts
receivable/Turnover ×365 |
17 days |
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*Turnover/Total
assets |
6.72 |
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* Cost of
goods sold/Turnover |
1.08 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average 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 too high, 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 fair level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable
of SC is maintained in an average level.
l
SC’s short-term loan appears average in 2011.
l
SC’s turnover is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial condition
of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.29 |
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UK Pound |
1 |
Rs.86.61 |
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Euro |
1 |
Rs.68.87 |
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.