MIRA
INFORM REPORT
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Report Date : |
16.11.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Block 25, Zone K, Industrial
Headquarters Base, Indutrial
& Concentrated Development Zone, Qingyang
District, Chengdu, Sichuan Province 610000
PR |
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Country : |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
09.06.2011 |
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Com. Reg. No.: |
510105000156307 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Includes
technology marketing service; water conservancy & hydropower project
construction; investment & asset management etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow but Delayed |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Since the late 1970s
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Source : CIA |
Company name and address
block 25,
zone k, Industrial headquarters base
indutrial
& Concentrated development zone
qingyang
district,
(AS
REGISTERED)
TEL: n/a
FAX: n/a
EXECUTIVE SUMMARY
Date of Registration : june 9, 2011
REGISTRATION NO. : 510105000156307
LEGAL FORM :
Limited liabilities company
REGISTERED CAPITAL : cny 8,000,000
staff : not known
BUSINESS CATEGORY : n/a
Revenue : CNY 5,965,000 (FROM JAN. 1, 2012 TO SEP. 30, 2012)
EQUITIES : CNY 1,942,000 (AS OF SEP. 30, 2012)
PAYMENT : NOT YET BE DETERMINED
MARKET CONDITION : NOT KNOWN
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : NOT
KNOWN
GENERAL REPUTATION : NOT KNOWN
EXCHANGE RATE : CNY 6.24 = USD
Adopted abbreviations (as follows)
SC -
Subject Company (the company inquired by you)
N/A – Not
available
CNY –
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC
in respect of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 510105000156307on
June 9, 2011.
SC’s Organization Code Certificate
No.: 57464135-X
SC’s Tax No.: 51010557464135X
SC’s registered capital: cny 8,000,000
SC’s paid-in capital: cny 8,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2012-10 |
Registered Capital |
CNY 2,000,000 |
cny 8,000,000 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Xu Feier and other individuals |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative |
Xu Feier |
RECENT DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Xu Feier and other individuals
100
MANAGEMENT
Xu Feier, Legal Representative
----------------------------------------------------
Ø
Gender: F
Ø
Age: 27
Ø
ID# 51010419851008146X
Ø
Qualification: University
BUSINESS OPERATION
According to information from local SAIC, and SC started its normal business in August 2012.
SC’s registered business scope
includes technology marketing service; water conservancy &
hydropower project construction; investment & asset management; freight
forwarding; storage services; import & export business; financial
consulting; selling machinery, hardware, electronics, cultural & sports
equipment, textiles, garment, grocery, chemical products, and metal materials.
The
given contact ways (No. 39, Tianlang Road, West High District Chengdu,
028-85294077/85294079) belongs to Shanghai Pudong Development Bank Chengdu
Branch, which refused to release SC’s telephone number.
Exhausting
our efforts, we are unable to find SC’s other telephone number in various
information sources, including the internet, yellow pages and telecom
companies. It is therefore not possible to contact SC directly to obtain
further information. The nature and extent of the SC's operations could not be
determined.
Staff & Office:
--------------------------
SC’s
staff status is not known.
It
could not be confirmed whether SC operates from the Registered Office address
or in another location.
RELATED COMPANY
SC is not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( )
Good ( ) Average ( ) Fair ( ) Poor (X) Not yet be 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: N/a.
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.
BANKING
Basic Bank:
Industrial and Commercial Bank of
AC#: 4402205009100287787
FINANCIALS
Balance Sheet
|
Unit:
CNY’000 |
As of Dec. 31, 2011 |
As of Sep. 30, 2012 |
|
11,545 |
10,296 |
|
|
Notes receivable |
0 |
0 |
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Accounts
receivable |
0 |
3,582 |
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Advances
to suppliers |
3,180 |
5,162 |
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Other
receivable |
0 |
939 |
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Inventory |
0 |
0 |
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Deferred
expenses |
0 |
0 |
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Other
current assets |
0 |
0 |
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|
------------------ |
------------------ |
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Current
assets |
14,725 |
19,979 |
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Fixed
assets |
0 |
0 |
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Construction
in progress |
0 |
0 |
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Intangible
assets |
0 |
0 |
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Long-term
prepaid expenses |
0 |
0 |
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Deferred
income tax assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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------------------ |
------------------ |
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Total
assets |
14,725 |
19,979 |
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|
============= |
============= |
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Short-term
loans |
0 |
0 |
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Notes
payable |
0 |
0 |
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Accounts
payable |
0 |
0 |
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Wages
payable |
0 |
0 |
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Taxes
payable |
0 |
-549 |
|
Advances
from clients |
0 |
-378 |
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Other
payable |
12,742 |
19,014 |
|
Other
current liabilities |
0 |
-50 |
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------------------ |
------------------ |
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Current
liabilities |
12,742 |
18,037 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
12,742 |
18,037 |
|
Equities |
1,983 |
1,942 |
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------------------ |
------------------ |
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Total
liabilities & equities |
14,725 |
19,979 |
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|
============= |
============= |
Income Statement
|
Unit:
CNY’000 |
As
of Dec. 31, 2011 |
From Jan. 1, 2012 of Sep. 30, 2012 |
|
Revenue |
0 |
5,965 |
|
Cost of sales |
0 |
3,722 |
|
Taxes and surcharges |
0 |
0 |
|
Sales expense |
0 |
1,823 |
|
Management expense |
17 |
470 |
|
Finance expense |
0 |
-10 |
|
Profit
before tax |
-17 |
-41 |
|
Less:
profit tax |
0 |
0 |
|
-17 |
-41 |
Important
Ratios
=============
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|
As of Dec. 31, 2011 |
As of Sep. 30, 2012 |
|
*Current
ratio |
1.16 |
1.11 |
|
*Quick
ratio |
1.16 |
1.11 |
|
*Liabilities
to assets |
0.87 |
0.90 |
|
*Net
profit margin (%) |
-- |
-0.69 |
|
*Return
on total assets (%) |
-0.12 |
-0.21 |
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*Inventory
/ Revenue ×365/270 |
-- |
-- |
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*Accounts
receivable/ Revenue ×365/270 |
-- |
163
days |
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*
Revenue/Total assets |
-- |
0.30 |
|
* Cost
of sales / Revenue |
-- |
0.62 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l
The revenue of SC appears fair in its
line.
l
SC’s net profit margin is fair.
l
SC’s return on total assets is fair.
l
SC’s cost of sales is average, comparing
with its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained
in a normal level.
l
SC’s quick ratio is maintained in a
normal level.
l
SC has no inventory.
l
The accounts receivable of SC appears
average.
l
SC has no short-term loans.
l
SC’s revenue is in a poor level,
comparing with the size of its total assets.
LEVERAGE:
FAIR
l
The debt ratio of SC is fairly high.
l
The risk for SC to go bankrupt is above
average.
Overall
financial condition of the SC: Fair.
CONCLUSIONS
SC is unable to be contacted, and no precise credit
assessment on SC can be made. If further contact details of SC are provided, we
will definitely continue our research on SC.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.93 |
|
|
1 |
Rs.87.38 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
-- |
NB |
New Business |
-- |
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.