MIRA
INFORM REPORT
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Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHANTY INDUSTRIAL CO LTD |
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Registered Office : |
302 Choung Chi Rd Chihu Chen, Changhwa Hsien 514 |
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Country : |
Taiwan |
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Date of Incorporation : |
SEPTEMBER 10, 1981 |
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Com. Reg. No.: |
59147542 |
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Legal Form : |
Private |
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Line of Business : |
Export and distribution of a wide range of footwear. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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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Maximum Credit Limit : |
Up To USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
CHANTY INDUSTRIAL CO LTD
302 CHOUNG CHI RD CHIHU CHEN
CHANGHWA HSIEN 514, TAIWAN
TEL : 886-4-28818803
FAX : 886-4-28814390
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 10, 1981
REGISTRATION NO. :
59147542
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHUNG-CHIH YANG (CHAIRMAN)
STAFF STRENGTH :
20
CAPITAL :
US$ 602,228
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 100,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.19940 = 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 History*
===============
1981 - Originally established as a shoe
manufacturer.
1997 - Moved its
production to mainland China and Vietnam, due to market competition and high
production cost incurred in Taiwan.
*Company Registration*
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License number : 59147542
Date issued : 10
September, 1981
Issuing authority : Ministry of
Economic Affairs (MOEA)
*Office & Facilities*
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Size : 3,600
square ft (approx)
Location : Outer
suburb of Changhwa city
Facilities : Modern
Property status : Rented
Type of building : Semi-residential building
Comments : Serves as
office and retail outlet.
*Corporate & Organization Structure*
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A medium-sized manufacturer/trader operated and managed by the prime
owner and 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.
www.chanty-shoes.com The design is
professional and the content is well organized. At present it is in English
version.
E-mail: chanty@chanty-shoes.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name No. of Shares
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Mr. Chung-chih Yang 320
Mr. Ying-shu Yang 280
Mr. Shu-jung Yang 280
Mr. Tung-shen Yang 280
Management: Mr. Steven Hsin-jen
Yang, Manager
Mr. Chung-chih Yang, General Manager
Name Nationality
Job Description
Mr. Steven Hsin-jen Yang Taiwanese
Manager Sales
Mr. Chung-chih Yang Taiwanese
General Manager
*Key Personnel*
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(1)
Mr. Chung-chih Yang
Founder :
Co-founder
Resident status : Taiwan
Years of experience : More than 15 years industry experience
Responsibilities : Handles the daily operation of the firm
including all financials, sales and legal matters.
(2)
Mr. Steven Hsin-jen Yang
Tel no. :
4-28818803 Ext 37
E-mail address :
steven@chanty-shoes.com
Responsibility : International
Sales
*Main Products & Services*
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Specializes in the following areas of work :
1. Export and distribution of a wide range of footwear.
2. Accepts production of samples per OEM customer design by it's factory
in China and Vietnam.
Products: Boots
Casual close-up
shoes
Footwear
Slippers
Women's dress
shoes
*Payment Terms*
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Sales
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Export : Letter of Credit (L/C)
Documents against
Acceptance (D/A) settlement by Bank Wire Transfer (T/T)
Purchases
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Local : 30-90 days credit
*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.
*International Trade Activity*
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Previously, the firm imports a range of footwear into Taiwan. But in the
recent three (3) years the firm has changed focus of business, and no longer
imports.
*Export Markets*
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100% of the annual turnover is attributed to export.
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains, manages and owns manufacturing facilities in China and
Vietnam. Breakdown of production as
follows :
Products : Casual and
dress shoes
Current capacity : 6.8 million
pairs/year
Country
Items Current Capacity (In
Million)
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China Casual and
dress shoes
2.8 pairs/yr
Vietnam Casual and
dress shoes
4 pairs/yr
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : CHANTY SHOES
Address : 5 Marathon Cres Toronto M2R 2L6 Ontario Canada
Country : Canada
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Trader
Industry : Footwear
Company Name : CHANTY SHOES FACTORY
Address : Liwu Village Yuanzhou Town Boluo County Huizhou 516127
Guangdong China
Country : China
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Footwear
Company Name : FULL SOUND INT'L LTD
Address : 5, 5Fl, Wang Fu Bldg 7 Chatham Court Tsim Sha Tsui New
Territories Hong Kong
Country : Hong Kong
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Service
Industry : Transportation
Company Name : YUETY SHOES FACTORY
Address : 99 Yee-Shern Ward Chang Shern Village District 9 Ho Chi Minh
Vietnam
Country : Vietnam
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Footwear
PAYMENT RATING : 3 OBTAINED SCORES : 60
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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 MODERATE
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 $1,000,000.00 $7,000,000.00 $8,000,000.00
2004 $200,000.00 $6,000,000.00 $6,200,000.00
2005 $30,000.00 $5,000,000.00 $5,030,000.00
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2005 $8,028,432.86 $2,394,944.71 $1,175,987.36
Over the past 26 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD 100,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3131 Boot
and shoe cut stock and findings
Exporting 3142 House
slippers
Exporting 3144 Women's
footwear, ; footwear made on a basis or platform of wood, not having
an
inner sole or a protective metal toe cap
Exporting 5139 Footwear
Trading 3131 Boot
and shoe cut stock and findings
Trading 3142 House
slippers
Trading 3144 Women's
footwear, ; footwear made on a basis or platform of wood, not having
an
inner sole or a protective metal toe cap
Trading 5139 Footwear
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 6403110000 Footwear with uppers of leather, ski-boots and cross-country
ski footwear
Exporting 6405 Footwear
Exporting 6405201500 Footwear with uppers of textile materials, house slippers
Exporting 6405909000 Other footwear
Trading 6403110000 Footwear
with uppers of leather, ski-boots and cross-country ski footwear
Trading 6405 Footwear
Trading 6405201500 Footwear
with uppers of textile materials, house slippers
Trading 6405909000 Other
footwear
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporting Sandals
Exporting Children's shoes
Trading Boots
Trading Women's dress shoes
Trading Slippers
Trading Sandals
Trading Footwear
Trading Children's shoes
Trading Casual close-up shoes
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to Hong Kong
Exporting to Vietnam
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%)