MIRA
INFORM REPORT
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Report Date : |
26.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
WORLD SHINER LTD |
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Registered Office : |
4FL-8 Fortune Winner Bldg 206 Sung Chiang Rd, Chungshan
Dist Taipei City 104 |
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Country : |
Taiwan |
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Date of Incorporation : |
13.12.1993 |
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Com. Reg. No.: |
84704741 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and local distribution of diamond jewelry. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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/normal. |
Small |
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Maximum Credit Limit : |
Up To USD 60,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
WORLD SHINER LTD
4FL-8 FORTUNE WINNER BLDG 206 SUNG CHIANG RD
CHUNGSHAN DIST TAIPEI CITY 104, TAIWAN
TEL: 886-2-25639213
FAX: 886-2-25428151
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 13, 1993
REGISTRATION NO. :
84704741
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. MAULIK NARENDRAKUMAR SHAH (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 153,139
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
UP TO USD 60,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.9820 = US$1 AS OF 2007-2-25
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
*Company Registration *
====================
License number : 84704741
Date issued : 13
December, 1993
Issuing authority : Ministry of
Economic Affairs (MOEA)
*Office & Facilities*
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Size : 31.86
square meter
Location : Taipei
City
Property status : Rented
Type of building : Commercial
building
Comment : Serves as
office and warehouse.
Other tel no :
2-25639216
*Corporate & Organization Structure*
==============================
A small company mainly operated and managed by the owner of the firm.
*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.worldshiner.com The design is professional and the content
is well organized. At present it is in English version.
Email : world_shiner@yahoo.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholder : 1
Shareholder's Name No. of shares
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WORLD SHINER LTD 100.00
Name Nationality Job Description
Mr. Maulik Narendrakumar Shah Indian
General Manager
*Key Personnel*
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Maulik Narendrakumar Shah
Founder : Co-
founder
Work experience: More than 10 years
Responsibilities : Handles the daily operation of the firm including all
financials and legal matters.
Resident status : Taiwan
*Main Products & Services*
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Specializes in importing and local distribution of diamond jewelry.
Products : Diamond
Diamond jewelry
Jewelry
Jewelry, precious stone
Jewelry, semi-precious stones
*Payment Terms*
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Sales
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Local : Cash
Credit Card
Purchases
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Import : Letter of Credit (L/C)
15-45 days credit
*Competitors*
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The following locally based companies supply identical range of
products:
- ANTHONY JEWELRY CO LTD
- CORNERSTONE MANAGEMENT LTD TAIWAN BRANCH (HK)
- DIAMOND WORLD JEWELRY CO LTD
- EMPEROR DIAMOND CO LTD
- JUST GOLD DIAMOND CO LTD
- CHING CHT CO LTD
- ANCIENT STONE JEWELRY & HANDICRAFT CO
- GOLDEN ART & JEWELRY CO LTD
- HARRY WINSTON INC - TAIWAN BRANCH (USA)
- ROSHAN INT'L LTD
- GOLDEN ELEGANCE LTD TAIWAN BRANCH (HONG KONG)
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : ISHA TRADING CO LTD
Country : Taiwan
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Giftware & Jewellery
Company Name : RD LTD TAIWAN BRANCH (HK)
Address : 8Fl-1, Bldg 2, Lane 79, Fu Hsing Rd Section 1 Chungshan Dist
Taipei City 104 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : n/a
Company Type : Trader
Industry : Giftware & Jewellery
Company Name : WORLD SHINER JEWELLERY LTD
Address : 4Fl-8 Fortune Winner Bldg 206 Sung Chiang Rd Chungshan Dist
Taipei City 104 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Importer
Industry : Giftware & Jewellery
PAYMENT RATING : 3 OBTAINED SCORES : 61
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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.
*Financial Summary (Currency:
U.S. $'s)
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Year Sales Assets Net Income
2003 $4,514,994.23 $535,755.48 $247,923.88
*Int´l Trade Activity (Currency:
U.S. $'s)
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Year Imports Exports Total
2001 $3,589,000.00 $0.00 $3,589,000.00
2002 $2,865,000.00 $0.00 $2,865,000.00
2003 $4,000,000.00 $0.00 $4,000,000.00
2004 $3,000,000.00 $0.00 $3,000,000.00
2005 $4,000,000.00 $0.00 $4,000,000.00
SC is considered small-sized in its line with an acceptable base to come
into credit dealings of small amount.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3961 Jewelry
of materials other than solid gold, platinum & silver
Importing 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 7102 Diamonds,
worked or not, not mounted or set
Importing 7102390010 Diamonds non-industrial, (cut, faceted, not set or mounted)
weighing less than 0.5
carat
each
Importing 7103 Precious
semiprec stones, not strung etc
Importing 7116201000 Jewelry of precious or semiprecious stones
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Importing Precious stones
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from Asia
Importing from Belgium
Importing from Europe
Importing from India
Importing from Nepal
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/normal. |
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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions