MIRA
INFORM REPORT
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Report Date : |
29.08.2007 |
IDENTIFICATION DETAILS
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Name : |
CLADON ENTERPRISE CO LTD |
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Registered Office : |
1FL, 13, Lane 244, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
September 8, 1994 |
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Com. Reg. No.: |
84941250 |
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Legal Form : |
Private |
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Line of Business : |
Importation of stone building materials. Local distribution of finished process products. |
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 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
CLADON ENTERPRISE CO LTD
1FL, 13, LANE 244,
TEL : [+886] 2-25148712
FAX : [+886] 2-22548636
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 8, 1994
REGISTRATION NO. :
84941250
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHENG-YI KUO (CHAIRMAN)
STAFF STRENGTH :
12
CAPITAL :
US$ 1,842,900
BUSINESS LINE :
TRADER
TURNOVER :
US$ 2,938,331.32 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.9755 = US$1 AS OF
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M – million
TWD –
*Office & Facilities*
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Size
: 110 sq. meter (Approx)
Location
: Central Business District (CBD)
Property status :
Rented
Type of building :
Semi-residential building
Comment :
Premises is shared with C E C ENTERPRISE (BVI) CO LTD
Previous Contact Details
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(1)
Address
: 12Fl-3,
(2)
Branch address :
2Fl, 469-6 Chung Hua Rd 970 Hualien City Hualien Hsien
Tel. no.
: 3-8540987
Fax no.
: 3-8511538
*Factories, Size & Locations*
======================
The company is a trading house focused on importation of
overseas products, and maintains no
manufacturing facilities.
*Corporate & Organization Structure*
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A small sized company operated and managed by the owner.
*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 : cladon@venus.seed.net.tw
For the past 13 years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name No. of Shares
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Mr. Feng-lung Lin 490,600
Mr. Cheng-yi Kuo 465,600
Mr. Chun-hung Ko 381,476
Mr. Wei-teh Tu 3,851
Management : Ms. Chih-hui Wang, Representative
Ms. Ting-hui Wang, Representative
Mr. Wei-teh Tu, CEO
Name Nationality Job
Description
Ms. Chih-hui Wang Taiwanese Representative Sales
Ms. Ting-hui Wang Taiwanese Representative Sales
Mr. Wei-teh Tu Taiwanese CEO
Mr. Jefferson Chin-yi Hung Taiwanese General
Manager
*Key Personnel*
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(1)
Mr. Cheng-yi Kuo
Founder
: Co-founder
Work experience :
More than 10 years.
Responsibilities :
Handles the daily operation of the firm including all financial and legal
matters.
Resident status :
(2)
Mr. Wei-teh Tu
Other position
: Chairman & CEO, C E C ENTERPRISE (BVI) CO LTD
(3)
Mr. Jefferson Chin-yi Hung
Other position : General Manager, C E C ENTERPRISE (BVI) CO
LTD
*Main Products & Services*
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Specializes in the following areas of work:
1. Importation of stone building materials which are then
forwarded to subcontracted factory for processing.
2. Local distribution of finished process products.
Note : Also trading under the name C E C ENTERPRISE
(BVI) CO LTD which is currently registered in the
Products : Bricks
Fire-proof
boards
Granite stones
Mega
board
Original stones
*Payment Terms*
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Sales
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Local : Cash
30-60
days credit
Purchases
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Local : 30-90 days
credit
Import : Letter of
Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range
of products :
- CHIOU HO-FONG MARBLE CO LTD
- DAH CHING MARBLE CO LTD
- DIING HAO STONE CO LTD
- EDEH MARBLE INDUSTRIAL CO LTD
*Local Distribution Network*
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An estimated 99% of the annual turnover is attributed to
local sales.
*Export Markets*
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An estimated 1% of the annual turnover is attributed to
export.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : CLADON ENTERPRISE CO LTD -
Branch Address :
Branch Tel : [+886] 3-8540987
Branch Fax : [+886] 3-8511538
Branch Employees : 2
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : C E C
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Construction & Construction Materials
PAYMENT RATING : 3 OBTAINED SCORES : 59
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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 USD6 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 : SHANGHAI COMMERCIAL & SAVINGS BANK LTD
Branch : Chungshan Dist,
Branch Address :
SWIFT Code : SCSBTWTP
*Int´l Trade Activity (Currency:
==============================
Year
Imports
Exports Total
2001
$1,850,000.00 n/a $1,850,000.00
2002
$1,758,000.00
$35,000.00 $1,793,000.00
2003
$1,895,000.00 n/a $1,895,000.00
2004
$1,850,000.00
$35,000.00 $1,885,000.00
2005 $2,050,000.00 n/a $2,050,000.00
2006
$2,100,000.00
$30,000.00 $2,130,000.00
*Financial Summary (Currency:
===============================
Year Sales Assets Net Income
2003
$2,840,253.75
$273,933.10
$164,359.86
2004
$2,589,774.44
$285,714.29
$153,383.46
2005
$2,868,878.36
$301,737.76
$171,879.94
2006
$2,938,331.32 $288,694.07 $176,239.42
SC is considered small-sized in its line with a development history of
13 years. It is considered a credit line up to USD80,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Importing
1423 Crushed/Broken
Granite
Importing
5032 Brick/Stone/Const
Materials
Trading
1429 Crushed and
broken stone
Trading
3251 Brick and
structural clay tile
Trading
3253 Ceramic wall
and floor tile
Trading
3271 Concrete
blocks and bricks
Trading
3281 Cut stone and
stone products
Trading
5032 Brick/Stone/Const
Materials
Trading
5039 Construction
Materials, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Importing 2516110000 Granite, crude or roughly trimmed
Importing 6811200000 Other sheets, panels, tiles and similar articles of asbestos
cement, cellulose fiber
cement
or the like
Trading 6800 Articles of stone, plaster, cement, asbestos, mica or
similar materials
Trading 6802990060 Other stone
Trading 6810110000 Building blocks and bricks of cement, concrete or of artificial
stone whether or not
reinforced
Trading 6810191200 Agglomerated marble-cement floor and wall tiles
Trading 6810191400 Floor and wall tiles of cement, concrete or artificial stone,
not agglomerated
marble,
reinforced or not
Trading 6815 Articles of stone or other mineral substance
Trading 6815990000 Other articles of stone or other mineral substances
Trading 6901 Bricks, blocks, tiles & other ceramic goods slcs
earth
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Trader Fire-proof
boards
Trader Original
stones
Trader Granite
stones
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
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%)