MIRA INFORM REPORT
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Report Date : |
8th May 2006 |
IDENTIFICATION DETAILS
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Name : |
DAEMEX
CO LTD - TAIWAN BRANCH |
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Registered Office : |
2fl,
1-1 Nan King West Rd Chungshan Dist Taipei City 104, Taiwan |
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Date of Incorporation : |
October
21, 2002 |
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Com. Reg. No.: |
80345694 |
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Legal Form : |
Private |
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Line of Business : |
Engaged
in the business of importing and domestic sales of jewelry and diamonds |
RATING & COMMENTS
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MIRA’s Rating : |
B |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME & ADDRESS
DAEMEX CO LTD - TAIWAN BRANCH
2FL, 1-1 NAN KING WEST RD CHUNGSHAN DIST TAIPEI CITY 104, TAIWAN
TEL: 886-2-25793482
FAX: 886-2-25785183
EXECUTIVE SUMMARY
INCORPORATION DATE : OCTOBER 21, 2002
REGISTRATION NO. : 80345694
LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : MR. SAN-CHIEH CHIANG (CHAIRMAN)
STAFF STRENGTH : 4
CAPITAL : US$ 31,250
BUSINESS LINE : IMPORTER
TURNOVER : N/A (AS OF DEC. 31, 2005)
EQUITIES : N/A (AS OF DEC. 31, 2005)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 10,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : TWD 31.41781= US$1 AS OF 2006-05-08
*Company Registration*
===================
License number : 80345694
Date issued : 21 October, 2002
Issuing authority : Ministry of Economic Affairs (MOEA)
*Office & Facilities*
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Size : 279 sq. meters
Location : Taipei City
Property status : Rented
Type of building : Commercial
Comments : Serves as office and shop.
*Corporate & Organization Structure*
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A small sized company mainly operated and managed by an experienced team of professionals.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation within the respective industry failed to reveal any negative information.
E-mail: daemex2004@yahoo.co.in
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholder's Name % of Shares
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Mr. San-chieh Chiang Majority
Management: Mr. San-chieh Chiang, General Manager
Mr. Yogeshkumar Chakubh Jethva, General Manager
*Key Personnel*
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Mr. San-chieh Chiang
Founder : Co founder
Work experience : More than 5 years
Resident status : Taiwan
Responsibilities : Handles the daily operation of the firm including all financial and legal matters.
*Main Products & Services*
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Specializes in importing and domestic sales of jewelry and diamonds.
Products: Diamonds
Jewelry
*Payment Terms*
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Sales
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Local : Cash, 30 - 90 days credit
Purchases
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Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
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The following locally based firm supply similar range of
products/services.
-DREAMER MEDIA LTD
-EADER INT'L CORP
-FAIRLACE INT'L CORP
-GLORIA SHELL & JEWELRY CO LTD
-LIAO'S ENTERPRISES CO LTD
*Local Distribution Network*
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100% annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the publisher's activity is concentrated on local sales only.
SC is not known to have any
subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES : 53
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment pattern of SC
based upon our Payment Database, comments from suppliers of SC, information
from banks (if available), as well as industrial sources.
Dealings on
open terms may be possible for SMALL amounts depending on individual judgement
experience.
As a private limited company with a paid-up capital of less than US$6 million, there is no legal requirement according to local corporate law for public disclosure of detailed financials.
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2003 $300,000.00 n/a $300,000.00
2004 $400,000.00 n/a $400,000.00
2005 $600,000.00 n/a $600,000.00
Over the past 4 years, SC has made a stable growth with satisfactory profit. We consider a credit line up to USD 30,000 appears acceptable.
Attached: trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3911 Jewelry, of precious metal
Importing 3961 Jewelry of materials other than solid gold, platinum & silver
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 7102 Diamonds, worked or not, not mounted or set
Importing 7113 Articles of jewelry & parts, of precious metal or clad
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from India
Importing from South America
Importing from USA
RATING EXPLANATIONS
RATING
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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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |