MIRA INFORM REPORT
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Report No. : |
324962 |
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Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
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Name : |
T & L
INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
No. 279 Jiefang South Road, Hexi District, Tianjin 300162 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
27.02.2009 |
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Com. Reg. No.: |
120102000039779 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importing and exporting goods and technology; wholesale and retail of
hardware, furniture, handicrafts, steel, sporting goods, daily necessities,
clothing, chemical products, household appliances, electronic products, auto
parts, charge, minerals; business information consulting, commodity
information consulting, labor services, machinery and equipment rental. |
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No. of Employees : |
30 |
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 : |
Slow but correct |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, growth of the private sector, development of stock markets and a modern banking system, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. After keeping its currency tightly linked to the US dollar for years, in July 2005 China moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2014 stood as the largest economy in the world, surpassing the US that year... Still, per capita income is below the world average.
The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2014 more than 274 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development.
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Source
: CIA |
Company
Name and address
T & L INTERNATIONAL TRADE CO., LTD.
no. 279 jiefang south
road, hexi district, tianjin 300162 PR CHINA
TEL: 86 (0)
22-23322308
FAX: 86 (0)
22-23301020
EXECUTIVE
SUMMARY
Date of Registration : february 27, 2009
REGISTRATION NO. : 120102000039779
LEGAL FORM : Limited Liability Company
REGISTERED CAPITAL : CNY
5,000,000
staff : 30
BUSINESS CATEGORY : TRADING
Revenue : CNY 1,397,800,000 (AS OF DEC. 31, 2014)
EQUITIES : CNY 7,410,000 (AS OF DEC. 31, 2014)
WEBSITE : N/A
E-MAIL : N/A
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : stable
OPERATIONAL TREND : Fairly Steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.22 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
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.: 120102000039779
on February 27, 2009.
SC’s Organization Code Certificate No.:
68471957-6
SC’s Tax No.: 120102684719576
SC’s registered capital: CNY 5,000,000
SC’s paid-in capital: CNY 5,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2013-4 |
Registered
Capital |
CNY 1,000,000 |
CNY 5,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Xu Xiaopeng |
50 |
|
Zhang Li |
50 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal
Representative, Chairman, and General Manager |
Xu Xiaopeng |
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Supervisor |
Zhang Li |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Xu Xiaopeng 50
Zhang Li 50
MANAGEMENT
Xu Xiaopeng, Legal Representative, Chairman and General
Manager
-----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
From 2009 to present, working in SC as
legal representative, chairman and general manager
Zhang
Li, Supervisor
------------------------------------
Ø Gender: F
BUSINESS
OPERATION
SC’s registered business scope includes importing and
exporting goods and technology; wholesale and retail of hardware, furniture,
handicrafts, steel, sporting goods, daily necessities, clothing, chemical
products, household appliances, electronic products, auto parts, charge,
minerals; business information consulting, commodity information consulting,
labor services, machinery and equipment rental.
SC is mainly
engaged in international trade.
SC’s products
mainly include: furniture, gifts, etc.
SC sources its products 100% from domestic market, mainly Tianjin. SC sells 100% of its products to overseas market, mainly U.S.A., Mid East, Southeast Asia, etc.
The buying terms
of SC include Check, T/T and Credit of 30-60 days. The payment terms of SC include
T/T, L/C and Credit of 30-60 days.
*Major Customer:
=============
Port of Fino
Furniture Ltd.
Reliable Trading
Inc.
Acumuladores Y
Representaciones Industriales Sa De Cv
Faetca Srltda
Staff & Office:
--------------------------
SC is known
to have approx. 30 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED
COMPANY
SC
is not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) 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: 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.
BANKING
The bank
information of SC is not filed in SAIC.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As of Dec. 31, 2014 |
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Total assets |
38,810 |
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------------- |
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Total liabilities |
31,400 |
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Equities |
7,410 |
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------------- |
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Revenue |
1,397,800 |
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Profit before tax |
1,190 |
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Less: profit tax |
300 |
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Profits |
890 |
Important Ratios
=============
|
|
As of Dec. 31, 2014 |
|
*Liabilities to assets |
0.81 |
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*Net profit margin (%) |
0.06 |
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*Return on total assets (%) |
2.29 |
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*Revenue/Total assets |
36.02 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
l The revenue of SC appears
fairly good in its line.
l SC’s net profit
margin is average.
l SC’s return on
total assets is average.
LIQUIDITY: AVERAGE
l
SC’s revenue 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: Stable.
CONCLUSIONS
SC is considered small-sized in its line with stable financial
conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
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|
1 |
Rs.97.27 |
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Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
NIT |
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.