MIRA
INFORM REPORT
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Report Date : |
29.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
YOUNG CHANCE ENTERPRISE CO LTD |
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Registered Office : |
1FL, 82, Lane 357, Pi Feng Rd Tsaotun Chen Nantou Hsien
542 |
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Country : |
Taiwan |
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Date of Incorporation : |
June 1, 1994 |
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Com. Reg. No.: |
84952903 |
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Legal Form : |
Private |
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Line of Business : |
Importing a range of raw hides, predominantly sheep and goat skins. Outsourcing to local tanneries for processing of imported skins. Selling processed skins to local shoe manufacturers. |
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 25,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
YOUNG CHANCE ENTERPRISE CO LTD
1FL, 82, LANE 357, PI FENG RD TSAOTUN CHEN NANTOU HSIEN 542, TAIWAN
TEL : 886-4-92334827
FAX : 886-4-92355350
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 1, 1994
REGISTRATION NO. :
84952903
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. FANG-LIN LIN (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 452,625
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 25,000
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
Note: The given address “7, Lane 491, Pi Feng Rd Tsaotun Chen Nantou
Hsien 542” is SC’s registered address, and it is operating in the heading address.
*Trading Names*
==============
Although the company is legally registered by the name listed above, it
is commonly known as CHINA LINE GROUP INT'L CO LTD under which it operates
locally.
*Office & Facilities*
================
Size : 290 sq. meters (approx.)
Location : Nantou
Hsien
Property status : Rented
Type of building : Commercial
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 and an
experienced management team.
*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.
E-mail: china.lins@msa.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name No. of Shares
-------------------------- ----------------
Ms. Fang-lin Lin 8,000,000
Ms. Chin-mei Lee
3,900,000
Ms. Ju-tsai Lin 1,700,000
Management: Ms. Chin-mei Lee,
Manager
Ms. Fang-lin Lin, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Chin-mei Lee Taiwanese
Manager Sales
Ms. Fang-lin Lin Taiwanese
General Manager -
*Key Personnel*
============
Ms. Fang-lin Lin
Founder :
Co-founder
Work experience : More than
13 years.
Resident status : Taiwan
Responsibilities :
Handles the daily operation of the firm including all financial and legal matters.
*Main Products & Services*
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Specializing in the following main areas of work:
1. Importing a range of raw hides, predominantly sheep and goat skins.
2. Outsourcing to local tanneries for processing of imported skins.
3. Selling processed skins to local shoe manufacturers.
Products: Goat leather
Lamb skins
Leather
*Payment Terms*
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Sales
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Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Purchases
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Local : 30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Documents against
Acceptance (D/A)
*Competitors*
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The following locally based companies supply similar range of products:
- LEADEX INT'L CORP
- PROMINENCE TRADING CORP
- ROOMYCHEER INDUSTRIAL CO
- GO ASIA LEATHER CO
- LYNNTON CORP
*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.
SC is not known to have any subsidiary at
present.
PAYMENT
RATING : 3 OBTAINED SCORES :
52
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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 : LAND BANK OF TAIWAN
Branch : Chungcheng Dist, Taipei City
Branch Address : 46 Kuan Chien Rd Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code : LBOTTWTP
Bank Name : CHINFON COMMERCIAL BANK
Branch : Chungcheng Dist, Taipei City
Branch Address : 1 Nanyang St Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code : CFCBTWTP
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2002 $2,500,000.00 $50,000.00 $2,550,000.00
2003 $3,000,023.07 $50,000.00 $3,050,023.07
2004 $4,140,000.00 $50,000.00 $4,190,000.00
2005 $2,000,000.00 $0.00 $2,000,000.00
2006 $1,490,000.00 $64,000.00 $1,554,000.00
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2006 $1,964,933.49 $214,631.20 $64,993.95
SC is considered small-sized in its line with a long history. Taking
into consideration of SC’s general performance, a credit line up to USD 25,000
appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3100 Leather and
Leather Products
Trading 3111 Leather,
tanned or finished
Trading 3199 Leather
goods,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 4100 Raw hides
& skins & leather
Trading 4102 Raw skins
of sheep or lambs
Trading 4106 Goat or
kidskin leather, no hair
Trading 4205 Articles of
leather
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Importing from Asia
Importing from Bangladesh
Importing from China
Importing from India
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%)