MIRA
INFORM REPORT
|
Report Date : |
11.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
NUNG LAI CO LTD |
|
|
|
|
Registered Office : |
2FL, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
May 9, 2001 |
|
|
|
|
Com. Reg. No.: |
12862137 |
|
|
|
|
Legal Form : |
Private |
|
|
|
|
Line of Business : |
Manufacturing of various types of zippers buckles series and
related products. Selling of manufactured products to both domestic and
international markets. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name &
address
NUNG LAI CO LTD
2FL,
TEL : [+886] 2-28326199
FAX : [+886] 2-28326077
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY 9, 2001
REGISTRATION NO. :
12862137
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. HUNG-CHU WU (CHAIRMAN)
STAFF STRENGTH :
15
CAPITAL :
US$ 181,269
BUSINESS LINE :
MANUFACTURER
TURNOVER :
US $1,496,372.43 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.8803 = US$1 AS OF 2007-8-10
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
*Company Registration*
===================
License number :
12862137
Date issued
: 9 May, 2001
Issuing authority :
Ministry of Economic Affairs (MOEA)
*Licenses & Permits*
=================
License number :
9966905901
Date issued :
2 September, 1999
Issuing authority :
Industrial Development Bureau, MOEA
Type of license :
Factory license
*Office & Facilities*
===============
Size
: 173 sq. meters (Approx.)
Location
:
Property status :
Rented
Type of building :
Retail outlet in a semi-residential building
*Factories, Size & Locations*
======================
Size
: 81 sq. meters (Approx)
Location
:
Property status :
Rented
Type of building :
Industrial
*Corporate & Organization Structure*
=============================
A small-sized company operated and managed by the owner and
family members.
*Reputation*
==========
Reference checking for the purpose of establishing the
firm's reputation within the respective industry failed to reveal any negative
information.
Web
site: www.nunglai.com.tw
The design is professional and
the content is well organized. At present it is in English version.
Email : nunglai.company@msa.hinet.net
For the past 6 years there is no record of litigation.
*Major Shareholders*
=================
Shareholders' Name No. of Shares
--------------------------
-------------------
Mr. Kuan-jung Hsu 209,280
Mr. Peng-chuan Hsu 90,720
Ms. Chin-chu Hsu 69,780
Ms. Hung-chu Wu 27,900
Management : Mr. Chun-yao Hsu, Manager
Ms. Vivian Hsu, Manager
Ms. Hung-chu Wu, President
Name Nationality Job Description
Mr. Chun-yao Hsu
Taiwanese Manager
Sales
Ms. Vivian Hsu
Taiwanese Manager
Ms. Hung-chu Wu
Taiwanese President
*Key Personnel*
=============
Ms. Hung-chu Wu
Founder
: Co-Founder
Place of birth :
Resident status :
Work experience :
More than 6 years experience.
Responsibilities :
Handles the daily operation of the firm including all financials, sales and
legal matters.
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Manufacturing of various types of zippers buckles series
and related products.
2. Selling of manufactured products to both domestic and
international markets.
Products : Buckles series
Buttons
Cord
lock
Discharge lamps
Eyelets
*Payment Terms*
==============
Sales
-------
Local : Cash
30 - 90
days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Document
against Acceptance (D/A)
Purchases
--------------
Local : 30 - 90 days
credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Document
against Acceptance (D/A)
*Competitors*
===========
The following .locally based companies supply similar range
of products:
- JEU-WAT ZIPPER CO LTD
- TAI-FU ZIPPER CO LTD
- UNION ZIPPER INDUSTRIAL CO LTD
- AZOK ZIPPER CO LTD
- CHENG THAI ZIPPER CORP
*Local Distribution Network*
=======================
Approximately 10% annual turnover is attributed to local
sales.
*Export Markets*
==============
Approximately 90% annual turnover is attributed to
export.
*(Subsidiaries , Joint-ventures & Affiliates)
===============================
Company Name : NUNG LAI PLASTIC HARDWARE FACTORY
Address : Liao Bu Xia Bei Ling Gong Guan
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Plastics & Products
PAYMENT RATING : 3 OBTAINED SCORES : 55
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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 there is no legal requirement
according to local corporate law for public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*BANK DETAILS*
==============
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : ICBCTWTP
Bank Name : TAIWAN BUSINESS BANK
Branch : Tatung Dist,
Branch Address :
SWIFT Code : MBBTTWTP
*Int´l Trade Activity
(Currency:
===============================
Year Imports Exports Total
2004
$25,000.00 $820,000.00 $845,000.00
2005
$32,000.00 $860,000.00 $892,000.00
2006
$63,000.00 $1,200,000.00 $1,263,000.00
*Financial Summary
(Currency:
==============================
Year Sales Assets Net Income
2006
$1,496,372.43 $75,574.37 $96,735.19
SC is considered small-sized in its line with a development history
of 6 years. A credit line up to USD 20,000 would appear to be within SC’s
capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 3559 Special
industry machinery, and parts
Exporting 3965 Needles,
pins, buttons, and clothing fasteners
Importing 3641 Electric
lamps
Manufacturing 2389 Apparel and accessories
Manufacturing 3965 Needles, pins, buttons, and
clothing fasteners
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 3923900000 Articles for the conveyance or packing of goods, etc, of
plastic
Exporting 8452299000 Sewing machines
Exporting 9606100000 Press-fasteners, snap-fasteners & press-studs & parts
therefore
Exporting 9606216000 Buttons, of plastics, not covered with textile material
Exporting 9606296000 Buttons
Exporting 9607190060 Slide fasteners
Importing 8539310000 Discharge lamps, (ex ultraviolet), fluorescent, hot cathode
Manufacturing 8308 Clasps, buckles, hooks etc,
beads & spangles, base metal
Manufacturing
8308100000 Hooks, eyes and
eyelets, of base metal
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturer Handles
Manufacturer Buckles
series
Manufacturer Zipper
pulls
Manufacturer Cord
lock
Manufacturer Hooks
Manufacturer Eyelets
Manufacturer Grippers
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)