MIRA
INFORM REPORT
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Report Date : |
26.05.2012 |
IDENTIFICATION DETAILS
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Name : |
FOSHAN WENICE IMPORT AND EXPORT TRADING CO.,
LTD. |
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Registered Office : |
2/F, Building B, No. 1, |
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Country : |
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Date of Incorporation : |
15.01.2007 |
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Com. Reg. No.: |
440602000099422 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in selling ceramic
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 : |
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
FOSHAN WENICE IMPORT AND EXPORT TRADING CO.,
LTD.
2/F, BUILDING B,
NO. 1, XINMING 2ND ROAD, FOSHAN,
GUANGDONG PROVINCE 528322 PR CHINA
TEL: 86 (0) 757-83990066 FAX:
N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : JAN. 15, 2007
REGISTRATION NO. : 440602000099422
REGISTERED LEGAL FORM : LIMITED
LIABILITIES CO.
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
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 6.31 =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 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 Jan. 15, 2007.
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 and
exporting commodities and technologies; domestic trade (with permit if needed).
SC is mainly engaged in selling ceramic
products.
Mr.
Ye Yiquan 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 Foshan. The detailed
premise information is unknown.
SC is not known to host web site of its own at present.
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name % of Shareholding
Ye Yiquan 95
Ye Qingjiang 5
Legal
Representative, Chairman and General Manager:
Mr. Ye Yiquan, with university education. He 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:
Ye Qingjiang
SC is mainly engaged in selling ceramic products.
SC’s products mainly include: ceramic products, etc.
SC sources its materials 60% from domestic
market and 40% from overseas market. SC sells 70% in domestic market and 30% 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 T/T,
L/C, Check and Credit of 30-60 days.
Note:
SC declined to release its major suppliers and clients.
SC is not known to have the subsidiary at present.
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.
The banking
information of SC is unknown.
SC’s management declined to release any financial information.
Investigations were made with the local AIC, but the financial records
were not available.
SC is considered small-sized in its line with a development history of 5
years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.73 |
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UK Pound |
1 |
Rs.87.26 |
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Euro |
1 |
Rs.69.84 |
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.