MIRA
INFORM REPORT
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Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
COLUMBO TRADING CO LTD |
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Registered Office : |
1FL, 24, Lane 171, Chung Hsin Rd Section 1, Wuku Hsiang
Taipei Hsien 248 |
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Country : |
Taiwan |
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Date of Incorporation : |
JULY 25, 2000 |
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Com. Reg. No.: |
700608325 |
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Legal Form : |
Private |
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Line of Business : |
Import and trade of a wide range of home textiles and other related
products. |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
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Maximum Credit Limit : |
Up To USD 25,000 |
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Status : |
Fair |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
COLUMBO TRADING CO LTD
1FL, 24, LANE 171, CHUNG HSIN RD SECTION 1
WUKU HSIANG TAIPEI HSIEN 248, TAIWAN
TEL : 886-2-29876350
FAX : 886-2-29876374
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 25, 2000
REGISTRATION NO. :
700608325
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. SU-CHIU CHEN (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 90,334
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 25,000.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.12480 = US$1 AS OF 2007-4-4
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –Taiwan New Dollars
*Company Registration*
===================
License number : 700608325
Date issued : 25 July,
2000
Issuing authority : Ministry of
Economic Affairs (MOEA)
*Capital Details*
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Paid-up capital : NTD 3,000,000.00 divided into 3,000,000 shares at NTD
1.00/-each
*Office & Facilities*
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Size : 94.65
square ft (approx.)
Property status : Rented
Type of building : Commercial
and industrial building
Previous Contact Details
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Address : 4Fl, 626 Jen Ai St
241 Sanchung City Taipei Hsien
Tel no. : 2-22878472
Fax no. : 2-27915073
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
E-mail: columbo8888@yahoo.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shares
: 3,000,000
Shareholders' Name No. of Shares Amount of Shares (CYP)
% of Shares
--------------------------- ------------------ --------------------------------- ----------------
Ms. Su-chiu Chen 1,200,000 1,200,000 40
Undisclosed Shareholders
1,800,000
1,800,000
60
Management: Mr. Tsung-yuan Yang, Manager
Name Nationality
Job Description
Mr. Tsung-yuan Yang Taiwanese Manager Sales
*Key Personnel*
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Ms. Su-chiu Chen
Founder :
Co-founder
Resident status : Taiwan
Years of experience : More than 5 years industry experience
Responsibilities : Handles the daily operation of the firm
including all financial and legal matters.
*Main Products & Services*
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Specializes in the import and trade of a wide range of home textiles and
other related products.
Products: Cotton pad
Curtain
draperies
Drapes
Pillows
Window
curtains
*Payment Terms*
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Sales
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Local : 30-60 days credit
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Competitors*
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The following locally based companies supply identical range of
products:
- E-WEAVE HOME COLLECTION CO LTD
- SUNRI CO LTD
- FREER INC
- KENT WIEN CO LTD
*Local Distribution Network*
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100% of the 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 firm's
activity is concentrated on local sales only.
SC is not known to have any subsidiary at
present.
PAYMENT
RATING :4 OBTAINED SCORES :
48
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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 USD 6
million, there is no legal requirement according to Taiwan 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 $21,000.00 $0.00 $21,000.00
2004 $73,000.00 $0.00 $73,000.00
2005 $230,000.00 $0.00 $230,000.00
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2005 $341,232.23 n/a $53,728.28
Over the past 7 years, SC has made a stable growth with satisfactory profit.
It is considered a credit line up to USD 25,000 appears to be within SC’s
capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2200 Textile
Mill Products
Importing 2299 Textile
goods,
Importing 2391 Curtains
and draperies
Importing 2392 Housefurnishings,
Importing 2399 Fabricated
textile products,
Trading 2200 Textile
Mill Products
Trading 2299 Textile
goods,
Trading 2391 Curtains
and draperies
Trading 2392 Housefurnishings,
Trading 2399 Fabricated
textile products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3924901010 Curtains & drapes,of plastic
Importing 5911 Textile
products etc. for specific tech uses
Importing 6303 Curtains
& interior blinds; curtain & bed valances
Importing 6304 Furnishing
articles of textile materials
Importing 6307 Made-up
articles of textile materials
Importing 9404902000 Pillows, cushions and similar furnishing except of cotton
Importing 9404904000 Pillows, cushions, and similar furnishing
Trading 3924901010 Curtains
& drapes,of plastic
Trading 5911 Textile
products etc. for specific tech uses
Trading 6303 Curtains
& interior blinds; curtain & bed valances
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importing Textile products
Importing Home textiles
Importing Cushion
Trading Cotton pad
Trading Curtain draperies
Trading Drapes
Trading Pillows
Trading Window curtains
Trading Textile products
Trading Home textiles
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from Asia
Importing from India
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)