MIRA
INFORM REPORT
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Report Date : |
23.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ELASTIC WORLD CO LTD |
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Registered Office : |
6 Alley 54, Lane 416, Chung Shan Rd Section 2 Panchiao
City Taipei Hsien 220 |
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Country : |
Taiwan |
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Date of Incorporation : |
October 4, 1983 |
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Com. Reg. No.: |
09423971 |
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Legal Form : |
Private |
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Line of Business : |
Import and domestic sales of fresh fruits. |
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 : |
USD 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
ELASTIC WORLD CO LTD
6 ALLEY 54, LANE 416, CHUNG SHAN RD SECTION 2 PANCHIAO CITY TAIPEI
HSIEN 220, TAIWAN
TEL : [+886] 2-29641155
FAX : [+886] 2-29648247
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER.4, 1983
REGISTRATION NO. :
09423971
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. WEN-CHUAN CHEN (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 150,557
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
USD 5,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.17105 = US$1 AS OF 2007-4-23
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 :
09423971
Date issued
: 4 October, 1983
Issuing authority :
Ministry of Economic Affairs (MOEA)
*Office & Facilities*
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Size
: 58.66 sq meters (Approx.)
Location
: Taipei Hsien
Property status
: Owned by Ms. Wen-chuan Chen
Type of building
: Residential Building
Previous Contact Details
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Address
: 1Fl, 351 Chia Hsing Rd, Ta An Dist, Taipei City, 106
Tel No.
: 2-27335170
*Corporate & Organization Structure*
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A small company mainly 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 : hongshu.chen@msa.hinet.net
For the past 24 years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name % of Share
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Ms. Wen-chuan Chen 99.00
Undisclosed Shareholders 1.00
Management : Mr. Stan Kao-ya Tsai, Representative
Name Nationality Job Description
Mr. Stan Kao-ya Tsai
Taiwanese
Representative (Sales)
*Key Personnel*
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Wen-chuan Chen
Founder
: Sole Founder
Work experience :
More than 20 years.
Responsibilities
: Handles the daily operation of the firm including all financial and
legal matters.
Resident status :
Taiwan
*Main Products & Services*
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Specializes in the import and domestic sales of fresh
fruits.
Products : Fresh apples
Grapefruit
Grapes
Kiwi
fruit
Nectarines
*Payment Terms*
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Sales
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Local : 30-60 days
credit.
Purchases
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Local : 30-60 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 firms supply similar range of
products
- FUH UEI TRADING CO LTD
- DEMETER FRUIT KING CO LTD
- TAIWAN FULLBLOOM INT'L LTD
- JANE BROTHER ENTERPRISE CO LTD
- POMINA ENTERPRISE 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.
*International Trade Activity*
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Note : At the time of completing this report, the Taiwan
Ministry of Trade (Customs) had not yet released figures for 2006.
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.
*BANK DETAILS*
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Bank Name : SUNNY COMMERCIAL BANK CO LTD
Branch : Peitou Dist, Taipei City
Branch Address : 90 Shih Pai Rd Section 1 Peitou Dist Taipei
City 112 (Head Office)
SWIFT Code : This
bank does not have a SWIFT Code
*Int´l Trade Activity
(Currency: U.S. $'s)
=================================
Year
Imports Exports Total
2004
$147,000.00 $0.00 $147,000.00
2005
$163,000.00 $0.00 $163,000.00
SC is considered small-sized in its line with a long operating history.
It is considered a credit line up to USD 5,000 appears to be within SC’s
capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 0172 Grapes
Importing 5148 Fresh
Fruits & Vegetables
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Importing 0805100040 Oranges, fresh or dried
Importing 0805400000 Grapefruit,
fresh or dried
Importing 0806100000 Grapes,
fresh
Importing 0808100000 Apples,
fresh
Importing 0809300000 Peaches,
including nectarines, fresh
Importing 0810500000 Other fresh
fruit, kiwi fruit
Importing 0810902060 Kiwi fruit (Chinese
gooseberries (actinide Chinese plant), fresh
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Importing
Oranges
Importing Pears
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from China
Importing from North America
Importing from 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 |
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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%)