MIRA
INFORM REPORT
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Report Date : |
1st
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
ELGIN CORP |
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Registered Office : |
6fl-1, 360 Rueiguang Rd Neihu Dist Taipei
City 114, Taiwan |
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Country : |
Taiwan |
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Date of Incorporation : |
13.08.1982 |
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Com. Reg. No.: |
12694578 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
1.
Importation of chemicals and materials for the manufacturing process of
cosmetic products 2.
Laboratory Research & Development activities for cosmetics. As a means to supplement and provide
advise to their local customers, the firm maintains an in-house laboratory
for the testing of materials imported by their company. |
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 |
Company Name & Address
ELGIN CORP
6FL-1, 360 RUEIGUANG RD NEIHU DIST TAIPEI
CITY 114, TAIWAN
TEL:886-2-87516060 FAX:886-2-87516363
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUGUST 13, 1982
REGISTRATION NO. :
12694578
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. YUNG-SHANG JUAN (CHAIRMAN)
STAFF STRENGTH :
30
CAPITAL :
US$ 765,697
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
USD 80,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.6276 = US$1 AS OF 2006-12-29
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 : 12694578
Date
issued :
13 August, 1982
Issuing
authority : Ministry of
Economic Affairs (MOEA)
*Office
& Facilities*
===============
Size : 281 sq meters
Location : Central Business District (CBD)
Property
status : Owned by ELGIN CORP
Type of
building : Commercial building
Comments :
Shares premises with CORUM INC
Other
e-mail : shsu@elgin.com.tw
Previous
Contact Details
--------------------------------
Address : 12Fl 99 Chung Shan North Rd Section
2, Chungshan Dist Taipei City 104
Tel
No :
2-25713784
Fax
No :
2-25614964
*Factories,
Size & Locations*
=======================
Type of
building : Industrial
Building
size : 3,000 sq feet (Approx)
Comments :
Serves as Laboratory
*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.elgin.com.tw
Email : psales@elgin.com.tw
For the
past two years there is no record of litigation.
*Major
Shareholders*
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Shareholder's
name % of shares
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Mr. Yung-shang Juan 99
Name Nationality
Job Description
Mr. Pei-mei
Lee Taiwanese General Manager
Mr.
Yung-shang Juan Taiwanese Marketing Director
*Key
Personnel*
=============
Mr.
Yung-shang Juan
Founder : Sole Founder
Resident
status : Taiwan
Age : 52 years
Work
experience : More than 20 years
Responsibilities :
Daily operation of the firm including all financial, sales and legal matters.
*Main
Products & Services*
======================
Specializes
in two main areas of work:
1.
Importation of chemicals and materials for the manufacturing process of
cosmetic products
2.
Laboratory Research & Development activities for cosmetics. As a means to supplement and provide advise
to their local customers, the firm maintains an in-house laboratory for the
testing of materials imported by their company.
Products
: Cosmetic raw materials
Cosmetic
raw materials
Facial
repair cosmetics
Surfactants
Fatty
alcohol
*Payment
Terms*
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Sales
------
Local :
Cash
30-60 days credit
Export : Wire transfers
Letter of Credit
(L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local :
Cash
30-60 days credit
Import : Document against Acceptance
(D/A)
Letter of Credit
(L/C)
Telegraphic
Transfer (T/T)
*Competitors*
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The
following locally based companies supply similar range of products:
1. SING
SING ENTERPRISES CORP
2. FRANK
ENTERPRISE INC
3. LEE'S
CHEMICAL INDUSTRY CO LTD
4.
PROPAGATE TRADING CO LTD
5.
TRANCO LTD
6. YUE
BA ENTERPRISE CO LTD
7. PAN
ASIA CHEMICAL CORP
*Local
Distribution Network*
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99% of
the annual turnover is attributed to local sales.
*Domestic
Customers*
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Local
brand cosmetics companies such as :
- ARWIN
COSMETICS CO LTD
- GRAND
GLORY TECHNOLOGY CORP
- AVON
COSMETICS TAIWAN LTD
*Export
Markets*
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1% of
the annual turnover is attributed to export.
*(Subsidiaries
, Joint-ventures & Affiliates)
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Company
Name : CORUM INC
Global
Identifier : P0888782
Address : 6Fl-1, 360 Rueiguang Rd
Neihu Dist Taipei City 114 Taiwan
Country : Taiwan
Relationship
: Affiliate
Legal
Form : Private Limited Company
Company
Type : Manufacturer
Industry
: Chemicals
Company
Name : ELGIN CHEMICAL
(CHONGQING) CO LTD
Global
Identifier : P0309631
Address : Rm 1203 Metropolitan
Tower 68 Shourong Rd Guangzhou 510070 Guangdong
China
Country : China
Relationship
: Subsidiary
Legal
Form : Private Limited
Company
Company
Type : Importer
Industry
: Chemicals
PAYMENT RATING :3
OBTAINED SCORES : 65
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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
MODERATE amounts depending on individual judgement experience.
Bank
Name : FIRST COMMERCIAL BANK CO LTD
SWIFT
Code : FCBKTWTP
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)
===============================
Year Sales Assets
Net Income
2002 $3,449,267.03 $718,597.30 $244,323.08
*Int´l
Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports
Total
1999 $1,268,000.00 $11,500.00 $1,279,500.00
2000 $2,054,000.00 $9,020.22 $2,063,020.22
2001 $2,229,831.69 $7,399.88 $2,237,231.57
2002 $2,217,591.26 $5,605.06 $2,223,196.32
2003 $2,000,000.00 $50,000.00 $2,050,000.00
2004 $2,500,000.00 $50,000.00 $2,550,000.00
2005 $5,000,000.00 $50,000.00 $5,050,000.00
SC is
considered an old-established business in small size. It is considered a credit
line up to USD 80,000 appears to be within SC’s capacities.
ATTACHED: TRADE REFERENCES
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Exporting 2899
Chemical preparations,
Importing 2816
Inorganic pigments
Importing 5169
Chemicals/Allied Prdts,
NEC
Manufacturing 2800 Chemicals and Allied Products
Manufacturing 2843 Surface active agents
Manufacturing 2844 Toilet preparations
Manufacturing 2899 Chemical preparations,
Manufacturing 5169 Chemicals/Allied Prdts, NEC
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Exporting 3800
Miscellaneous chemical
products
Importing 1302190000
Vegetable saps and extracts
Importing 1512190020
Sunflower-seed oil and fractions
thereof, refined, but not chemically
modified
Importing 1516200000
Vegetable fats and oils and their
fractions, hydrogenated, inter-esterified,
reesterified
or elaidinized, whether or not refined, not further prepared
Importing 2909500000
Ether-phenols, ether-alcohol-phenols
and their halogenated, sulfonated,
nitrated
or nitrosated derivatives
Importing 3204170000
Pigments & preparations based
thereon
Importing 3302900010
Perfume oil mixtures and blends,
consisting of products ready for use as
finished
perfume bases
Importing 3402120000
Cationic organic surface-active agents,
whether or not for retail sale
Importing 3402130000
Nonionic organic surface-active
agents, whether or not for retail sale
Importing 3823120000
Oleic acid
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Product/Service Description
Importing Fatty
acids
Manufacturing Absorbents
Manufacturing Alpha
hydroxy acid
Manufacturing Anti-acne
agents
Manufacturing Anti-dandruff
agents
Manufacturing Anti-foaming
agents
Manufacturing Anti-free
radical agents
Manufacturing Anti-oxidants
Manufacturing Opacifying
agent
Manufacturing Humectant
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting
to Asia
Exporting
to North America
Exporting
to USA
Importing
from Asia
Importing
from Australia
Importing
from Belgium
Importing
from China
Importing
from Czech Republic
Importing
from Europe
Importing
from France
Importing
from Germany
Importing
from India
Importing
from Indonesia
Importing
from Italy
Importing
from North America
Importing
from Russia
Importing
from Spain
Importing
from Sweden
Importing
from Switzerland
Importing
from USA
Importing
from United Kingdom
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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