MIRA
INFORM REPORT
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Report Date : |
5th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
MOUNT CHEER
INT'L CO LTD |
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Registered Office : |
1fl, 391 Yi Ming Rd Section 2 Tali City
Taichung Hsien 412, Taiwan |
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Country : |
Taiwan |
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Date of Incorporation : |
10.06.1996 |
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Com. Reg. No.: |
97031583 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Ř
Importing
of home ornaments made in cotton, towel, cloth materials and mats. Ř
Domestic
sales of its purchased 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
10,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company Name & Address
MOUNT CHEER INT'L CO LTD
1FL, 391 YI MING RD SECTION 2 TALI CITY
TAICHUNG HSIEN 412, TAIWAN
TEL:886-4-24822369 FAX:886-4-24822555
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 10, 1996
REGISTRATION NO. :
97031583
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. CHEN-HUI TAI (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 :
USD 10,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.4500 = US$1 AS OF 2007-1-4
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 : 97031583
Date
issued : 10 June, 1996
Issuing
authority : Ministry of Economic Affairs (MOEA)
*Company
Name*
=============
Incorporated
as : MOUNT CHERR INT'L CO LTD
Date of
incorporation : 10 June, 1996
Changed
name to : MOUNT CHEER INT'L CO LTD
Date of
change : February 1998
*Office
& Facilities*
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Size : 140 square meters
Location : Taichung Hsien
Property
status : Rented
Type of
building : Commercial Building
*Corporate
& Organization Structure*
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A small
sized company mainly operated and managed by the owners 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.
SC is not known to host website of its own at present.
For the
past two years there is no record of litigation.
*Major
Shareholders*
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Shareholders'
Names % of
Shares
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Mr. Chen-hui Tai 99
Name Nationality
Job Description
Mr.
Chen-hui Tai Taiwanese General Manager
*Key
Personnel*
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Mr.
Chen-hui Tai
Founder : Sole founder
Work
experience : More than 10 years
Responsibilities : Handles the daily operation of the firm
including all financial, sales and legal matters.
Resident
status : Taiwan
*Main
Products & Services*
======================
Specializing
in two main areas of work:
1.
Importing of home ornaments made in cotton, towel, cloth materials and mats.
2.
Domestic sales of its purchased products.
Products
: Blankets
Carpet
Home
ornaments
Household,
products - cotton
Mat
*Payment
Terms*
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Sales
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Local :
Cash
15-45 days credit
Purchases
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Local :
Cash
30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
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The
following locally based firms supply similar range of products :
- FAR
HORIZONS BUILDING MATERIAL CO LTD
- KE
& KINGSTONE CO LTD
- KING
LEO CORP
- SUH
KEN ENTERPRISE CO LTD
*Local
Distribution Network*
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100% of
the annual turnover is attributed to local sales.
*Domestic
Customers*
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Major
local customers include:
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Shopping Mall
-
Supermarket
*Imports*
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Most of
the products are imported from India.
*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.
SC is not known to have any subsidiary at present.
PAYMENT RATING :4
OBTAINED SCORES : 48
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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 Taiwan corporate law for public
disclosure of detailed financials.
*Bank
Details*
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Bank
name : HUA NAN COMMERCIAL BANK
Branch : Taichung
*Financial
Summary (Currency: U.S. $'s)
==============================
Year Sales
Assets Net Income
2003 $720,876.59
$382,295.27 $72,087.66
*Int´l
Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports
Total
2001 $320,000.00 $0.00
$320,000.00
2002 $510,000.00 $0.00
$510,000.00
2003 $500,000.00 $0.00
$500,000.00
2004 $600,000.00 $0.00
$600,000.00
2005 $800,000.00 $0.00
$800,000.00
Over the
past 11 years, SC has made a stable growth with satisfactory profit. It is
considered a credit line up to USD 10,000 appears to be within SC’s capacities.
ATTACHED: TRADE REFERENCES
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Importing 2273
Carpets and rugs
Importing 2299
Textile goods
Importing 2399
Fabricated textile
products
Importing 3999
Manufactured articles
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Importing
4601206000 Mats, matting
and screens of other woven or partly assembled vegetable materials
Importing 5700
Carpets & other
textile floor coverings
Importing 5702
Carpets & other text
floor cover, woven, no tuft etc
Importing 5705000000
Other carpets & other textile
floor coverings, whether or not made-up
Importing 5911
Textile products etc. for
specific tech uses
Importing 6301
Blankets and traveling
rugs
Importing
6302400000 Table linen, knitted or crocheted
Importing 6302511000
Table linen: not knit damask cotton
tablecloths and napkins
Importing 6302513500
Other table linen: of cotton,
tablecloths and napkins
Importing 6302530030
Table linen: not knit man-made
fiber, other tablecloths and napkins
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Product/Service Description
Importing Tablecloths
Importing Towel
dinner mat
Importing Towels
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Importing
from Asia
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/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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