MIRA
INFORM REPORT
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Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
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Name : |
ANHUI TINCAI SILK CO., LTD. |
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Registered Office : |
No. 118, Jinzhai Road, Baohe District, Hefei, Anhui
Province, 230022 Pr |
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Country : |
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Date of Incorporation : |
24.12.2001 |
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Com. Reg. No.: |
340000000031710 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
processing and selling silk and textiles |
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No. of Employees : |
100 |
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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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
NO. 118, JINZHAI
ROAD, BAOHE DISTRICT, HEFEI,
ANHUI province,
230022 PR CHINA
TEL: 86 (0)
551-3623157/3623151 FAX: 86 (0)
551-3643478/3623151
EXECUTIVE SUMMARY
INCORPORATION DATE : dec. 24, 2001
REGISTRATION NO. : 340000000031710
REGISTERED LEGAL
FORM : Limited liabilities company
STAFF STRENGTH :
100
REGISTERED CAPITAL : CNY 6,000,000
BUSINESS LINE :
processinG & TRADING
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : average
EXCHANGE RATE : CNY 6.3331 = 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
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 importing & exporting all kinds of goods,
processing & selling silk and its products, textiles, selling light industrial
products, machinery and electronic products, chemical products, general
merchandise; R&D, technology introduction, promotion, transfer, and
technical services of natural color cocoon, silk biotechnology and
environmental protection fiber.
SC is mainly
engaged in processing and selling silk and textiles.
Mr. Jiang Tao is
legal representative, chairman and general manager of SC at present.
SC is known to
have approx. 100 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 Hefei. SC’s
employee
refused to release the detailed information of the premise.
http://www.tincaiknit.com The design
is professional and the content is well organized. At present it is in English
version.
Email: solo@tincaiknit.com
Qualifications:
SC has passed ISO9001:2008.
No significant changes were found during our checks with the local AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
The Sericultural Research Institute of Anhui Academy of Agricultural
Sciences 0.5
Anhui International Trade Group (Holding)
Co., Ltd. 99.5
Anhui International Trade Group (Holding)
Co., Ltd.
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Registration no.:
340000000038767
Registered capital: CNY 350,000,000
Legal representative: Fan Yang
Tel: 86-551-3736113, 3736119
Fax: 86-551-3736100
Email: service@aitg.cn
Legal
representative, chairman and general manager:
Mr. Jiang Tao is currently responsible for the overall
management of SC.
Working
Experience(s):
At present Working in SC as legal representative, chairman and general manager.
Also working in Anhui Silk Corp. and Anhui Silk Import & Export Corp. as legal representative.
Supervisor:
Liu Yeming
SC is mainly engaged
in processing and selling silk and textiles.
SC’s products mainly include:
Velour/Velvet
Single Jersey
Polar Fleece
Coral Fleece
PV Fleece/Plush
Terry/French Terry
Nap Fabric
Interlock
Rib/Pique(PK)
Roma/Ottoman/Denim
Sherpa/Ant Fabric
Air Layer Fabric
Bamboo/Soybean
Organic/Special Fibre
Others
SC sources its materials 100% from domestic
market. SC sells 40% of its products in domestic market, and 60% 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.
Anhui Silk Corp.
Anhui
Silk Import & Export Corp.
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.
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 medium-sized in its line with a development history of
11 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.29 |
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UK Pound |
1 |
Rs.88.26 |
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Euro |
1 |
Rs.70.82 |
INFORMATION DETAILS
|
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.