MIRA
INFORM REPORT
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Report Date : |
24.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHIENS TRADING CO LTD |
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Registered Office : |
2FL, 135 Chen Tah Rd Section 3 Tatung Dist Taipei City 103 |
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Country : |
Taiwan |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
December 14, 1979 |
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Com. Reg. No.: |
31118813 |
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Legal Form : |
Private |
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Line of Business : |
Importation of
pharmaceutical ingredients and health food. Domestic sales of its purchased products to local
customers. |
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 : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
CHIENS TRADING CO LTD
2FL, 135 CHEN TAH RD SECTION 3 TATUNG DIST TAIPEI CITY 103, TAIWAN
TEL : [+886] 2-25924653
FAX : [+886] 2-25918921
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER.14, 1979
REGISTRATION NO. :
31118813
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. WEN-LUNG CHIEN (CHAIRMAN)
STAFF STRENGTH :
42
CAPITAL :
US$ 4,516,712
BUSINESS LINE :
IMPORTER
TURNOVER :
US$4,834,123.22 (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : USD 100,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.18998 = US$1 AS OF 2007-4-24
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 :
31118813
Date issued
: 14 December, 1979
Issuing authority :
Ministry of Economic Affairs
*Office & Facilities*
================
Size
: 3600 sq ft (Approx)
Location
: Center Business District (CBD)
Property status :
Rented
Type of building :
Commercial building
*Corporate & Organization Structure*
=============================
A small -medium sized company operated and managed by the
owner of the firm.
*Reputation*
==========
Reference checking for the purpose of establishing the
firm's reputation within the respective industry failed to reveal any negative
information.
SC is not known to host website of its own at present.
Email : chiens-tony@msa.hinet.net
For the past 28 years there is no record of litigation.
*Major Shareholders*
=================
Shareholders' Name % of Shares
-------------------------- ----------------
Mr. Wen-Lung Chien 99.00
Undisclosed Shareholders 1.00
Management : Mr. Wen-Lung Chien, General Manager
Name Nationality Job Description
Mr. Wen-Lung Chien
Taiwanese
General Manager
*Key Personnel*
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Mr. Wen-Lung Chien
Founder
: Co-Founder
Work experience :
More than 20 years.
Responsibility
: Handles the daily operation of the firm including all financial and
legal matters.
Resident status
: Taiwan
*Main Products & Services*
======================
Specializing in two main areas of work:
1. Importation of
pharmaceutical ingredients and health food.
2. Domestic sales of its purchased products to local
customers.
Products : Agricultural chemicals
Bromine
Butyl
Carboxylic acid
Chemicals
*Payment Terms*
==============
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)
Open
Account (D/A) with settlement using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range
of products:
- ING CHYUN ENTERPRISE CO LTD
- KHS SYNCHEMICA CORP
- MORALBURG TRADING CORP
- SUNLEAD CHEMICAL INDUSTRY CO LTD
- SYNGENTA TAIWAN LTD
*Domestic Customers*
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Customer's/Client's name : YUNG SHIN PHARMACEUTICAL INDUSTRY
CO LTD
*Local Distribution Network*
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100% of the annual turnover is attributed to local
sales.
*International Trade Activity*
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Note:
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At the time of completing this report, the Taiwan Ministry
of Trade (Customs) had not yet released figures for 2006.
*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.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : CHIENS TRADING CO LTD - TAIPEI CITY
Branch Address : 3Fl, 28 Lane 333 Ming Teh Rd Shihlin Dist,
Taipei City, 111
Branch Tel : [+886] 2-28228115
*(Subsidiaries , Joint-ventures & Affiliates)
=================================
Company Name : LESYNTEC TRADING CO LTD
Address : 1Fl, 135 Cheng Teh Rd Section 3 Tatung Dist Taipei
City 103 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Importer
Industry : Medical Equipment & Pharmaceutical
*IMPORTER AGENCY LISTING*
==============================
Supplier : CHEMADA
Country of Origin : Israel
Product Description : Chemicals
Brand : Chemada
Year : 2000
PAYMENT
RATING :3 OBTAINED SCORES :
55
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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. However, financial summaries
were obtained for reference.
*BANK DETAILS*
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Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist, Taichung City
Branch Address : 38 Tzu Yu Rd Section 2 Central Dist Taichung
City 400 (Head Office)
SWIFT Code : CCBCTWTP
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist, Taipei City
Branch Address : 77 Kuan Chien Rd Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : TACBTWTP
*Int´l Trade Activity
(Currency: U.S. $'s)
===============================
Year
Imports
Exports Total
2003
$1,753,000.00 $0.00 $1,753,000.00
2004
$3,650,000.00 $0.00 $3,650,000.00
2005 $3,775,000.00 $0.00 $3,775,000.00
*Financial Summary (Currency: U.S. $'s)
=================================
Year Sales Assets Net Income
2005
$4,834,123.22
$455,102.69 $315,703.00
Over the past 28 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
Importing 2879
Agricultural pesticides and
other agricultural chemicals
Importing 2899 Chemical preparations
Importing 5169 Chemicals/Allied Parts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Importing 1302190000 Vegetable saps and extracts
Importing 2801302000 Bromine
Importing 2914691000 Quinine photographic
chemicals
Importing 2918190000 Carboxylic acids with alcohol function
but without other oxygen
function not elsewhere specified or included
Importing 2922501300 Isoetharine hydrochloride; isoxsuprine
hydrochloride; nylidrin hydrochloride;
phenylephrine hydrochloride propane
hydrochloride; salbutamol etc
Importing 2925201000 N-(4-chloro-o-tolyl)-n, n-dimethylformamidine; bunamidine
hydrochloride; and
pentamidine
Importing 2932990400 2, 2-dimethyl-1, 3-benzodioxol-4-yl methyl
carbamatebendiocarb)
Importing 2933390000 Compounds containing an unused pyridine ring (whether or
not hydrogenated)
in the structure
Importing 2933900100 Butyl
2-[4-(5-triflouromethyl-2-pyridinyloxy) phenoxy]-propionate
Importing
2934900000 Heterocyclic
compounds
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Importing Diethyl
Importing
Enzymes
Importing
Halogenated derivatives
Importing
Health food
Importing
Heterocyclic compounds
Importing
Hydrochloride acids
Importing
Pharmaceutical ingredients
Importing
Quinine photographic chemicals
Importing
Salbutamol
Importing
Sugar chemicals
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from Asia
Importing from Australia
Importing from Belgium
Importing from China
Importing from Denmark
Importing from Europe
Importing from France
Importing from India
Importing from Israel
Importing from Italy
Importing from Japan
Importing from Middle East
Importing from Oceania
Importing from Spain
Importing from Turkey
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%)