MIRA
INFORM REPORT
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Report Date : |
29.06.2007 |
IDENTIFICATION DETAILS
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Name : |
FERICH TAIWAN LTD |
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Registered Office : |
14FL-2, |
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Country : |
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Date of Incorporation : |
October 14, 1986 |
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Com. Reg. No.: |
22318092 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of chemicals and related compounds. Domestic marketing and sales of its imported products. Distribution of chemical related products used in the food and
agriculture industries. |
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 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
FERICH TAIWAN LTD
14FL-2,
TEL : 886-2-25502981
FAX : 886-2-25581550
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 14, 1986
REGISTRATION NO. :
22318092
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. RONNIE TSUNG-HAO CHEN (PRESIDENT)
STAFF STRENGTH :
3
CAPITAL :
US$ 187,500
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 38.78200 = US$1 AS OF 2007-6-28
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
*Company Registration*
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License number : 22318092
Date issued : 14 October,
1986
Issuing authority : Ministry of
Economic Affairs
*Office & Facilities*
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Size : 87 sq
meters
Location : Central Business District (CBD)
Facilities :
Semi-modern
Property status : Rented
Type of building : Commercial
Comments : Premises is
shared with PERCHEMICALS TAIWAN LTD.
Previous Contact Details
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Address : 11Fl, 66 Sung
Tel no. : 2-25423128
Fax no. : 2-25679117
*Factories, Size & Locations*
======================
The company is a trading house focused on importation of overseas
products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
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A small sized company operated and managed by the owner and family
members.
*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' Name
No. of Shares
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Mr. Ronnie Tsung-hao Chen
3,940,000
Ms. Ju-chen Huang
1,520,000
Mr. Yu-hui Weng 480,000
Management: Ms. Ju-chen Huang,
Manager
Mr. Yu-hui Weng, General Manager
Mr. Ronnie Tsung-hao Chen, President
Name Nationality
Job Description Dept. / Division
Ms. Ju-chen Huang Taiwanese
Manager Sales
Mr. Yu-hui Weng Taiwanese
General Manager -
Mr. Ronnie Tsung-hao Chen Taiwanese
President -
*Key Personnel*
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Mr. Ronnie Tsung-hao Chen
Founder : Co-founder
Work experience : More than 20 years.
Responsibilities : Handles the
daily operation of the firm including all financials. sales and legal matters.
Resident status :
*Main Products & Services*
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Specializes in the following areas of work :
1. Importing of chemicals and related compounds.
2. Domestic marketing and sales of its imported products.
3. Distribution of chemical related products used in the food and
agriculture industries.
Products: Chemicals
Insect control
chemicals
Pesticides
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Purchases
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Local : 30-90 days credit.
Import : Letter of Credit (L/C)
Open Account (D/A) with settlement
using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based firms supply similar range of products :
- SANMIN TRADING CO LTD
- CHIA TAI ENTERPRISE CO LTD
- BASF TAIWAN LTD
- TAIWAN NISSAN CHEMICAL INDUSTRIES CORP
- LYTONE ENTERPRISE INC
*Domestic Customers*
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- FERCHEMICALS TAIWAN LTD
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*International Trade Activity*
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Prime focus of international trade is the importation of raw chemicals
and supply to local customers.
*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 : FERCHEMICALS TAIWAN LTD
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Chemicals
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.
*Bank Details*
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Bank name : TAIPEI FUBON
COMMERCIAL BANK CO LTD
Branch :
Account : 540101028415
Swift code : TPBKTWTP
*Int´l Trade Activity (Currency:
=============================
Year Imports Exports Total
2004 $53,000.00 $0.00 $53,000.00
2005 $210,000.00 $0.00 $210,000.00
2006 $230,000.00 $0.00 $230,000.00
As a private limited company with a paid-up capital of less than USD 6
million there is no legal requirement according to
SC is considered small-sized in its line with a long operating history.
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 2800 Chemicals
and Allied Products
Importing 2819 Industrial
inorganic chemicals,
Importing 2899 Chemical
preparations,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2800 Inorganic
chem, org/inorg compounds of precious metals, isotopes
Importing 2909303000 Pesticides
Importing 3800 Miscellaneous
chemical products
Importing 3808200000 Fungicides
Importing 3823909050 Chemical
products and preparations of the chemical or allied industries
Importing 3824909060 Chemical
products and preparations of the chemical or allied industries
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from
Importing from
Importing from
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%)