MIRA
INFORM REPORT
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Report Date : |
24th
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
GREEN PAL ENTERPRISE CO LTD |
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Registered Office : |
3FL, 249 HSI AN ST SECTION 2 PEITOU DIST
TAIPEI CITY 112, TAIWAN |
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Country : |
TAIWAN |
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Date of Incorporation : |
3 JANUARY, 2006 |
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Com. Reg. No.: |
27986733 |
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Legal Form : |
PRIVATE |
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Line of Business : |
Engaged in the business of exporting
garden tools. |
RATING & COMMENTS
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MIRAs 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 : |
Moderate
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Litigation : |
Clear |
NAME & ADDRESS
GREEN PAL ENTERPRISE CO LTD
3FL, 249 HSI AN ST SECTION 2 PEITOU DIST TAIPEI CITY 112, TAIWAN
TEL: 886-2-28262890
FAX: 886- 2-28200020
EXECUTIVE SUMMARY
INCORPORATION DATE :
3 JANUARY, 2006
REGISTRATION NO. :
27986733
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. WEN-HUI YANG (CHAIRMAN)
STAFF STRENGTH :
8
CAPITAL :
US$ 15,625
BUSINESS LINE :
EXPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2004)
EQUITIES :
N/A (AS OF DEC. 31, 2004)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE :
COD TO SMALL AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
FAIR
EXCHANGE RATE : TWD 32.03501 = US$1 AS OF 2006-05-24
*Company Registration*
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License number : 27986733
Date issued : 3 January, 2006
Issuing authority : Ministry of Economic Affairs (MOEA)
*Office & Facilities*
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Size : 127 sq meters
Location : Taipei City
Property status : Owned by Ms. Wen-hui Yang
Type of building : Commercial
Comments : Serve as office and warehouse.
Note:
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We were unable to find any reference of the supplied address on any local. The above address as reflected on our report was confirmed to be its current registered/operating address.
*Corporate & Organization Structure*
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A small company operated and managed by the owner.
*Reputation*
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Due to the recent incorporation of the firm, and the relatively small nature of it's business, no meaningful points of reference in terms of reputation within the respective industry was possible.
E-mail: eddie.lee@nugeway.com.tw
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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Ms. Wen-hui Yang 99.00
Management: Mr. Eddie Lee, Sales Manager
Ms. Wen-hui Yang, General Manager
*Key Personnel*
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Ms. Wen-hui Yang
Founder : Sole Founder
Work experience : More than 5 years
Responsibilities : Daily operation of the firm including all financial, sales and legal matters.
Resident status : Taiwan
*Main Products & Services*
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Specializes in exporting garden tools.
Products: Garden tools
Hardware tools
Scissors
*Payment Terms*
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Sales
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Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : Cash, 30-60 days credit
*Competitors*
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The following locally based firms supply similar range of products :
- FORMOSA TOOLS CO LTD
- JURAT HOUSEWARE SUPPLIES INC
- MAX'S LEADMAX INDUSTRIAL CORP
- SPRING TREE INDUSTRY CO LTD
- TRANS-WORLD PROSPERITY CORP
*Local Distribution Network*
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There is no record of local sales since the prime focus of the firm's activity is concentrated on exports only.
*Export Markets*
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100% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING :4 OBTAINED SCORES :
35
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Rating Key |
Implication |
Implications |
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1 |
Scores 85100 |
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 USD 6 million, there is no legal requirement according to Taiwan corporate law for public disclosure of detailed financials.
Additionally as the company was only established a few months ago no financials have been lodged.
*Bank Details*
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Bank name : SHANGHAI COMMERCIAL & SAVINGS BANK
Account : 51 108 000000 82 2
Branch : Tien Mu
SC was established recently in 2006, and its credit has not been established yet. Credit dealings with SC should be confined into small amount at present.
Attached: trade references
SIC PRODUCT CLASSIFICATION &
ACTIVITY
Activity Code Product/Service Description
Exporting 3429 Hardware,
Exporting 5072 Hardware
HARMONIZED PRODUCT CLASSIFICATION &
ACTIVITY
Activity Code Product/Service Description
Exporting 8205 Handtools nesoi; blow torches etc; anvils etc
Exporting 8205594000 Agricultural, horticultural or forestry tools and parts, base metal
Exporting 8207906000 Other interchangeable tools for handtools not for cutting metal, parts
Exporting 8213000000 Scissors, tailors shears and similar shears and blades and other base
metal parts
Exporting 8302 Hardware, fixtures, castors etc & parts, base metal
Exporting 8467195090 Pneumatic tools, hand-directed
INTERNATIONAL TRADE: ACTIVITY &
MARKETS
Exporting to Asia
Exporting to Europe
Exporting to North America
Exporting to USA
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 |
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 |