MIRA
INFORM REPORT
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Report Date : |
16.08.2007 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN LYNNS CORP |
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Registered Office : |
9FL - 2, 41, Lane 170, |
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Country : |
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Date of Incorporation : |
August 25, 1984 |
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Com. Reg. No.: |
05634587 |
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Legal Form : |
Private |
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Line of Business : |
Importation of tanning substances with particular focus on chemicals
used in tanneries. Selling to both domestic and international markets. |
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 30,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
GOLDEN LYNNS CORP
9FL-2, 41, LANE 170,
TEL : 886-2-29322363
FAX : 886-2-29333915
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUGUST 25, 1984
REGISTRATION NO. :
05634587
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. YU-MAN HSIAO (CHAIRMAN)
STAFF STRENGTH :
6
CAPITAL :
US$ 302,115
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.08862 = US$1 AS OF 2007-8-16
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 : 05634587
Date issued : 25 August,
1984
Issuing authority : Ministry of
Economic Affairs (MOEA)
Office & Facilities*
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Size : 114 sq.
meter. (Approx)
Location :
Property status : Rented
Type of building : Retail outlet
in a semi-residential building
*Factories, Size & Locations*
=======================
The company is a trading house focused on importation of overseas
products and maintains no manufacturing facilities.
*Corporate & Organization Structure*
============================
A small -sized company operated and managed by the owner.
*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.
E-mail: lynnton@ms13.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name
% of Shares
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Ms. Yu-man Hsiao 99.00
Undisclosed Shareholders 1.00
Management: Mr. Steven
Hsiao-hsing Lin, Representative
Ms. Yu-man Hsiao, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Steven Hsiao-hsing Lin Taiwanese
Representative Sales
Ms. Yu-man Hsiao Taiwanese
General Manager -
*Key Personnel*
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(1)
Ms. Yu-man Hsiao
Founder : Sole
Founder
Work experience : More than 25 years experience
Responsibilities : Handles the
daily operation of the firm including all financials, sales and legal matters.
Resident status :
(2)
Mr. Steven Hsiao-hsing Lin
*Main Products & Services*
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Specializes in the following areas of work :
1. Importation of tanning substances with particular focus on chemicals
used in tanneries.
2. Selling to both domestic and international markets.
Products: Tanning chemicals
Tanning
preparation
Tanning
substances
*Payment Terms*
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Sales
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Local : Cash
30 - 90 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchase
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Local : 30 - 90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- BELT MASTER CO LTD
- GENTURN ENT CO
- GOLEDAN ENTERPRISE CO LTD
- KUSENG TRADING CO LTD
- JOINT FAIR ENTERPRISE CO LTD
*Domestic Customers*
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Direct sales to local leather manufacturers.
*Local Distribution Network*
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An estimated 90% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 10% of the annual turnover is attributed to export.
Note
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The figures listed above for export, only represent the shipments made
directly by the company. It is understood the firm also exports via locally
based trading houses which export under their own corporate name.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : LYNNTON CORP
Address : 9Fl-2, 41, Lane 170,
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
PAYMENT RATING :3 OBTAINED SCORES : 51
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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 local corporate law for
public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*Bank Details*
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Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
Bank Name : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address : 10Fl,
SWIFT Code : FCBKTWTP
*Financial Summary (Currency:
==============================
Year Sales Assets Net Income
2006 $982,466.75 $136,033.86 $42,926.24
*Int´l Trade Activity (Currency:
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Year Imports Exports Total
2004 $810,000.00 $230,000.00 $1,040,000.00
2005 $770,000.00 $210,000.00 $980,000.00
2006 $700,000.00 $95,000.00 $795,000.00
Over the past 23 years, SC has made a stable growth with acceptable profit.
It is considered a credit line up to USD 30,000 appears to be within SC’s
capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2819 Industrial
inorganic chemicals,
Importing 2869 Industrial
organic chemicals,
Trading 2800 Chemicals
and Allied Products
Trading 2819 Industrial
inorganic chemicals,
Trading 2869 Industrial
organic chemicals,
Trading 2899 Chemical
preparations,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3202100000 Synthetic
organic tanning substances
Importing 3202900000 Inorganic
tanning substances & tanning preparations
Trading 3202905000 Tanning
preparations
Trading 3800 Miscellaneous
chemical products
Trading 3809930000 Finishing
agents, dye carriers to accelerate the dyeing or fixing of dyestuffs &
other
products and prep used in leather or like industries
Trading 3823905050 Chemical
products and preparations of the chemical or allied industries
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
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. |
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%)