MIRA INFORM REPORT
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Report Date : |
12th May 2006 |
IDENTIFICATION DETAILS
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Name : |
DIVES
TRADING CO LTD |
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Registered Office : |
11fl
328 Sung Chiang Rd Chungshan Dist Taipei City 104, Taiwan |
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Date of Incorporation : |
June
22, 1968 |
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Com. Reg. No.: |
11775803 |
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Legal Form : |
Private |
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Line of Business : |
Engaged
in the business of trading of air filters and hardware |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME & ADDRESS
DIVES TRADING CO LTD
11FL 328 SUNG CHIANG RD CHUNGSHAN DIST TAIPEI CITY 104, TAIWAN
TEL: 886-2-25114879
FAX: 886-2-25518187
EXECUTIVE SUMMARY
INCORPORATION DATE : JUNE 22, 1968
REGISTRATION NO. : 11775803
LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : MS. CHI-CHANG LIN (CHAIRMAN)
STAFF STRENGTH : 18
CAPITAL : US$ 156,250
BUSINESS LINE : TRADER
TURNOVER : N/A (AS OF DEC. 31, 2004)
EQUITIES : N/A (AS OF DEC. 31, 2004)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : USD 30,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : TWD 31.43096 = US$1 AS OF 2006-05-12
*Company Registration*
===================
License number : 11775803
Date issued : 22 June, 1968
Issuing authority : Ministry of Economic Affairs (MOEA)
*Office & Facilities*
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Size : 102 sq meters
Location : Taipei City
Property status : Owned under DIVES TRADING CO LTD
Type of building : Commercial
Comments : Serve as office, and warehouse.
*Corporate & Organization Structure*
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A medium sized company mainly operated and managed by an experienced team of professionals.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation within the respective industry failed to reveal any negative information.
E-mail: fhlin888@ms48.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholder's Name No of Shares
-------------------------- -----------------
Mr. Chi-chang Lin 100,000
Mr. Kuo-ching Lin Chao 100,000
Ms. Shu-wei Lin 100,000
Mr. Wei-sheng Lin 15,000
Management: Mr. Chi-chang Lin, General Manager
Mr. Hui-huang Lin, Sales Manager
*Key Personnel*
============
Mr. Chi-chang Lin
Founder : Co founder
Work experience : More than 20 years
Resident status : Taiwan
Responsibilities : Handles the daily operation of the firm including all financials and legal matters.
*Main Products & Services*
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Specializing in trading of air filters and hardware.
Products: Chains
Conveyors
Hand tools
Hardware
Sporting goods
*Payment Terms*
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Sales
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Local : Cash, 30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : Cash, 30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products:
-AN PEI ENTERPRISE CO LTD
-BEST PARTNER TRADING CO
-DEUSIC CORP LTD
-GIN-CHERN ENTERPRISE CO LTD
-GUANG TING CO
*Local Distribution Network*
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10% of the annual turnover is attributed to local sales.
*Export Markets*
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90% of the annual turnover is attributed to export.
SC is not known to
have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES : 56
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Rating Key |
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 MODERATE 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 Taiwan corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank : TAIPEI FUBON COMMERCIAL BANK CO LTD
Branch : Sung-chiang Branch
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2003 $100,000.00 $2,000,000.00 $2,100,000.00
2004 $50,000.00 $2,500,000.00 $2,550,000.00
2005 $50,000.00 $3,000,000.00 $3,050,000.00
Over the past 38 years, SC has made a stable growth with acceptable 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
Exporting 3400 Fabricated Metal Products
Exporting 3429 Hardware,
Exporting 3535 Conveyors and conveying equipment, and parts,
Exporting 3546 Power driven hand tools, and parts,
Exporting 3949 Sporting and athletic goods, and parts,
Importing 3500 Industrial Machinery & Equipment
Importing 3556 Food products machinery, and parts,
Importing 3599 Machinery, except electrical, and parts,
Importing 5084 Industrial Machinery/Equip
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7315 Chain & parts, of iron or steel
Exporting 8302 Hardware, fixtures, castors etc & parts, base metal
Exporting 8428200010 Conveyors, pneumatic
Exporting 8467891000 Hand tools with self-contained nonelectric motors,
suitable for metalworking
Exporting 9506 Articles & equip for sports etc nesoi; pools; parts
Importing 8438800000 Mach for indust preparation or manuf of food or
drink, other than mach for the extract
or preparat of animal or fixed veg fats
or oils
Importing 8500 Electrical machinery & equip. & parts;
telecommunications equip., sound
recorders, television recorders
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Importing Air filters
Importing Food processing machines
Importing Water filters
Importing Sewage treatment
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Canada
Exporting to Europe
Exporting to India
Exporting to Italy
Exporting to Japan
Exporting to North America
Exporting to Oceania
Exporting to Portugal
Exporting to South Africa
Exporting to South America
Exporting to Spain
Exporting to USA
Importing from Asia
Importing from Japan
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 |