MIRA
INFORM REPORT
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Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
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Name : |
ZHEJIANG MIXISHI CLOTHES CO., LTD. |
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Formerly Known As : |
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Registered Office : |
WUXING INDUSTRIAL ZONE, DEC. 24, 2001 330324000063023 Limited liabilities co. 1,000 manufacturing and selling clothes |
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Financials (as on) : |
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Date of Incorporation : |
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Com. Reg. No.: |
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Legal Form : |
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Line of Business : |
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No. of Employees : |
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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 : |
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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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
Zhejiang MIXISHI Clothes CO., LTD.
WUXING INDUSTRIAL ZONE,
TEL: 86 (0)
577-67319800/57761728 FAX: 86 (0) 577-67319805
EXECUTIVE SUMMARY
INCORPORATION DATE : DEC. 24, 2001
REGISTRATION NO. : 330324000063023
REGISTERED LEGAL FORM : Limited liabilities co.
STAFF STRENGTH :
1,000
REGISTERED CAPITAL : CNY 50,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.31 = USD 1 AS OF
CREDIT RATING : CA3-
(see below explanatory notes)
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RATING KEY |
CREDIT RISK ASSESSMENT |
PROPOSED CREDIT LIMIT (in concerned business field) |
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CA1 |
Minimal |
Credit can proceed with favorable terms |
Large amount |
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CA2 |
Low |
Credit can proceed promptly |
Fairly large amount |
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CA3 |
Average |
Credit can proceed normally |
Moderate amount |
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CA4 |
Above average |
Credit should proceed with monitor |
Small amount – periodical review |
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CA5 |
Fairly High |
Credit should be extended under guarantee |
C.O.D. To small amount |
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CA6 |
High |
Credit is not recommended |
C.O.D. |
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NR |
Assessment not conducted |
Insufficient data available |
No recommendation |
This rating 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 %) in our credit
analysis are as follows:
Financial
condition (40%) Ownership
background (10%) Payment
record (10%)
Credit history
(15%) Market
trend (10%) Operational
size (15%)
In case of unlimited companies, newly established companies, or lack of
financial data, more weight is given to ‘Ownership background’ and ‘Payment
record’ in our analysis.
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
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 Dec. 24, 2001.
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 manufacturing and selling
clothing, woolen sweater, sock; selling leather, leather shoes, cloth;
exporting self-produced products and technology; importing raw and auxiliary materials,
machinery and equipment, instruments, spare parts and technology needed for
producing and researching (excluding the items prohibited by the state);
processing with imported materials, processing with imported samples,
assembling with imported parts, and compensation trade in agreement. (该公司的法定经营范围包括：生产、销售服装、羊毛衫、袜；销售皮件、皮鞋、布料；经营本企业自产产品及技术的出口业务；经营本企业生产、科研所需的原辅材料、机械设备、仪器仪表、零配件及技术的进口业务（国家限定公司经营和国家禁止进出口的产品及技术除外）；经营进料加工和“三来一补”业务。)
SC is mainly
engaged in manufacturing and selling clothes. (该公司目前主要从事服装的生产、销售。)
Mr. Yu Qiangchun (余强春) is legal representative and chairman of SC at
present.
SC is known
to have approx. 1,000 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 Wenzhou. Our checks
reveal that SC owns the total premise about 30,000 square meters.
http://www.mixisi.com The design is professional and the content is
well organized. At present it is in Chinese and English versions.
E-mail: service@mixishi.com
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
SC has got the certificate of ISO9002, ISO14001 and OHSAS18001.
MAIN SHAREHOLDERS:
Name % of
Shareholding
Yu Qiangchun 47.6
余强春
Lin Hu 26
林虎
Ge Shuwen 25.6
葛淑文
Yu Biqiang 0.8
余必强
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Legal Representative and Chairman:
Mr. Yu
Qiangchun (余强春) 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. Lin
Hu (林虎) is currently responsible for the
daily management of SC.
Working
Experience(s):
At
present Working in SC
as general manager.
Also working in Zhejiang Mixishi Clothes Co., Ltd. Dong’ou Branch as
principal.
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Supervisor:
Ge Shuwen葛淑文
SC is mainly engaged
in manufacturing and selling clothes. (该公司目前主要从事服装的生产、销售。)
SC’s products
mainly include: spring and fall clothing; summer clothing; winter
clothing.
SC sources its
materials 100% from domestic market. SC sells 100% of its products 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, L/C and Credit of 30-60 days.
Note:
SC’s management declined to release its major suppliers and clients.
Branches:
Zhejiang Mixishi Clothes Co., Ltd. Dong’ou Branch
浙江迷西仕服饰有限公司东瓯分公司
Zhejiang
Mixishi Clothes Co., Ltd. Longqiao Branch
浙江迷西仕服饰有限公司龙桥分公司
Zhejiang
Mixishi Clothes Co., Ltd. Jiaotou Workshop
浙江迷西仕服饰有限公司礁头车间
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.
At local AIC, the bank information of SC is not available.
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 large-sized in its line with a development history of
11 years. Due to lack of financial status, we are unable to recommend accurate
credit limit for SC.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. |
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1 |
Rs. |
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Euro |
1 |
Rs. |
INFORMATION DETAILS
|
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 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.