MIRA
INFORM REPORT
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Report Date : |
20.01.2007 |
IDENTIFICATION DETAILS
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Name : |
TIMTEX TRADING CO LTD |
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Registered Office : |
9FL-8, |
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Country : |
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Date of Incorporation : |
APRIL
30, 1993 |
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Com. Reg. No.: |
84264574 |
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Legal Form : |
Private |
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Line of Business : |
Trading
hardware products. |
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 : |
USD
15,000 |
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Status : |
Small
Company |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
name &
address
TIMTEX TRADING CO LTD
9FL-8,
TEL: 886-2-25602945
FAX: 886-2-25310287
EXECUTIVE SUMMARY
INCORPORATION
DATE : APRIL 30, 1993
REGISTRATION
NO. : 84264574
LEGAL
FORM : PRIVATE
CHIEF
EXECUTIVE : MR. YU-KUNG
KO (CHAIRMAN)
STAFF
STRENGTH : 5
CAPITAL : US$ 153,139
BUSINESS
LINE : EXPORTER
TURNOVER : N/A (AS OF DEC.
31, 2005)
EQUITIES : N/A (AS OF
DEC. 31, 2005)
PAYMENT : AVERAGE
RECOMM.
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : TWD32.77998 =
US$1 AS OF 2007-1-19
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 : 84264574
Date
issued : 30 April, 1993
Issuing
authority : Ministry of Economic
Affairs
Legal
form : Private Limited Company
*Office
& Facilities*
===============
Size : 74 sq meters
Location :
Facilities : Modern
Property
status : Rented by TIMTEX TRADING CO
LTD
Type of
building : Commercial
*Corporate
& Organization Structure*
=============================
A small
sized company operated and managed by the owner.
*Reputation*
==========
Reference
checking for the purpose of establishing the firm's reputation within the respective
industry failed to reveal any negative information.
E-mail: timtex.taipei@msa.hinet.net
For the
past two years there is no record of litigation.
*Major
Shareholders*
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Shareholders'
Name % of Shares
-------------------------- ----------------
Mr.
Yu-kung Ko
99.00
Management:
Mr. Yu-kung Ko, General Manager
Name Nationality Job Description
Mr.
Yu-kung Ko Taiwanese General Manager
*Key
Personnel*
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Mr.Yu-kung
Ko
Founder : Sole Founder
Resident
status :
Work
experience : More than 10 years experience
Responsibility :
Handles the daily administration and operation of the firm including all
financial
decision making.
*Main
Products & Services*
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Specializes
in trading hardware products.
Products:
Hardware
Spinning ring
Hardware
Spinning ring
*Payment
Terms*
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Sales
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Local : Cash
30-90 days credit
Export :
Letter of Credit (L/C)
Documents against Acceptance
(D/A)
Purchases
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Local : Cash
30-90 days credit
*Local
Distribution Network*
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1% of
the annual turnover is attributed to local sales.
*Export
Markets*
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99% of
the annual turnover is attributed to export.
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.
*Bank
Details*
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Bank
name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Ming Sheng
As a
private limited company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
*Int´l
Trade Activity (Currency:
==============================
Year Imports Exports
Total
2003 $52,150.38 $834,406.02
$886,556.40
2004 $50,000.00 $300,000.00
$350,000.00
2005 $0.00 $800,000.00
$800,000.00
SC is
considered small-sized in its line with a development history of 13 years. It
is considered a credit line up to USD 15,000 appears to be within SC’s
capacities.
Attached:
trade references
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Exporting 3429
Hardware,
Trading 3429
Hardware,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Exporting 8302
Hardware, fixtures,
castors etc & parts, base metal
Exporting 8448330000
Spindles, spindle flyers, spinning
rings and ring travellers
Trading 8302
Hardware, fixtures,
castors etc & parts, base metal
Trading 8448330000
Spindles, spindle flyers, spinning
rings and ring travellers
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting
to
Exporting
to
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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