MIRA
INFORM REPORT
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Report Date : |
29.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
TAIWAN HOTAI ENTERPRISE CO LTD |
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Registered Office : |
146 Nei Liao Rd Yuanchang Hsiang Yunlin Hsien 655, |
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Country : |
Taiwan |
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Date of Incorporation : |
05.01.1972 |
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Com. Reg. No.: |
63732411 |
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Legal Form : |
Private Limited |
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Line of Business : |
Manufacturer of household cleaning 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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
TAIWAN HOTAI ENTERPRISE CO LTD
146 NEI LIAO RD YUANCHANG HSIANG YUNLIN HSIEN 655, TAIWAN
TEL: 886-5-7861622
FAX: 886-5-7862510
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 5, 1972
REGISTRATION NO. :
63732411
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHIA-LIN HOU (CHAIRMAN)
STAFF STRENGTH :
30
CAPITAL :
US$ 211,225
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.50923 = US$1
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
*Licenses & Permits*
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License number : 99653098
Date issued : 5 June 1979
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Size : 304 sq meters (Approx)
Location : Yunlin Hsien
Property status : Rented
Type of building : Industrial
building
Comments : Serves as office, factory and
warehouse.
Note: Although rented by the company, the premises are owned by its
chairman, Mr. Chia-lin Hou.
*Factories, Size & Locations*
=======================
Building size :
390 sq ft (Approx)
Location :
Yunlin Hsien
Property status :
Rented
Facilities : Modern
Type of building : Industrial
building
*Corporate & Organization Structure*
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A small-medium sized specialized company operated and managed by the
owner and a professional management team.
*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.houtai.com.tw the
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
E-mail: houtai-annie@umail.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name
No. of Shares
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Mr. Chin-hui Hou 3,887
Mr. Chih-jen Chen 457
Mr. Chia-lin Hou 233
Mr. Su-hsia Lee 208
Management:
Ms. Hui-lin Lee, Executive
Mr. Chia-lin Hou, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Hui-lin Lee Taiwanese
Executive Sales
Mr. Chia-lin Hou Taiwanese
General Manager -
*Key Personnel*
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Mr. Chia-lin Hou
Founder : Co-Founder
Work experience : More
than 35 years
Responsibilities : Handles the daily operation of the
firm including all financial and legal matters.
*Main Products & Services*
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Specializes in the following main areas of work:
1. Research and development of a range of household cleaning products.
2. Importing of raw materials and components for in-house OEM production.
3. Manufacturing a wide range of household plastic cleaning products.
4. Exporting and domestic sales of its finished products.
Products:
Assorted tools clamp
Bathroom brushes
Brooms
Brushes
Dust pan
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products:
- ROCK TONE ENTERPRISE CO LTD
- WRESELE CO LTD
- CHYNGONG CG ENTERPRISES CO LTD
- TWENTY-FIRST CENTURY INT'L DEVELOPMENT CO LTD
- GIANT LEAD INC
*Local Distribution Network*
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An estimated 53% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 47% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : CLEARNING MASTER ENTERPRISE CO LTD
Address : 146 Nei Liao Rd Yuanchang Hsiang 655 Yunlin Hsien Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : FUZHOU NINGDE HOTAI ENTERPRISE CO LTD
Address : 25 Fei Wan St Jiao Cheng Dist Ningde 352102 Fujian China
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Houseware
PAYMENT RATING : 3 OBTAINED SCORES : 60
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Rating Key |
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 local corporate law for
public disclosure of detailed financials.
Although, financial summaries were obtained for reference.
*Bank Details*
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Bank name : CHANG HWA COMMERCIAL BANK LTD
Branch : Chiayi
Swift code : CCBCTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2006 $13,149,939.54 $184,401.45 $453,446.19
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2004 $570,000.00 $4,780,000.00 $5,350,000.00
2005 $380,000.00 $5,400,000.00 $5,780,000.00
2006 $290,000.00 $6,220,000.00 $6,510,000.00
SC is considered an old-established business in small size. Credit up to
moderate amount may be considered.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 3991 Brooms and brushes
Trading 3991
Brooms and brushes
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3922900000
Bidets, lavatory pans, flushing
cisterns & similar sanitary ware,of plastic
Exporting 3924905000
Household articles & toilet
articles, of plastic,
Exporting 4819100020
Sanitary food and beverage
containers of corrugated paper or paperboard
Exporting 6307101000
Other made up articles, including
dress patterns: dust cloths, mop cloths, and
polishing
cloths, of cotton
Exporting 7308901000
Columns, pillars, posts, beams,
girders and similar structural units of iron or steel
Exporting 7616995090
Articles of aluminum
Importing 8201
Handtools & tools used
in agriculture etc, base metal parts
Importing 8201403000 Machetes and parts thereof of base metal
Manufacturing 3922900000
Bidets, lavatory pans, flushing
cisterns & similar sanitary ware, of plastic
Manufacturing 3924905000
Household articles & toilet
articles of plastic,
DETAILED PRODUCT CLASSIFICATION &
ACTIVITY
Activity Product/Service
Description
Manufacturer Magic mop
Manufacturer Plastic cleaning products
Manufacturer Home cleaning products
Manufacturer Professional cleaning products
Manufacturer Bathroom brushes
Manufacturer Plastic extension rods
Manufacturer Mops
Manufacturer Brooms
Trader Plunger
Trader Home cleaning products
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to Japan
Exporting to
Thailand
Importing from Asia
Importing from China
Importing from India
Importing from Indonesia
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%)