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MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
HALLIMAX (FAR EAST) LIMITED |
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Registered Office : |
5 FL – 6, |
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Country : |
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Date of Incorporation : |
22.05.1986 |
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Com. Reg. No.: |
22001741 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders of Televisions, LCD monitor and electronics 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 30000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
HALLIMAX (FAR EAST)
LTD
5FL-6,
TEL:886-2-27175834
FAX:886-2-27175824
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 22, 1986
REGISTRATION NO. : 22001741
LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. KANAYALAL
LOKURAM SEWANI (CHAIRMAN)
STAFF STRENGTH : 3
CAPITAL : US$ 157,978
BUSINESS LINE : TRADER
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 32.76500 =
US$1 AS OF 2007-7-3
HISTORY
*Company Registration*
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License number : 22001741
Date issued : 22 May, 1986
Issuing authority : Ministry of Economic Affairs
(MOEA)
*Office & Facilities*
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Size : 64 sq. meters (Approx.)
Location : Commercial area
Property status : Rented
Type of building : Commercial
building
Comment :
Serves as office and warehouse.
*Factories, Size & Locations*
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The company is a trading house focused on export and maintains no
manufacturing facilities.
*Corporate & Organization Structure*
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A small-sized company mainly operated and managed by owner of the firm.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
WEBSITE
SC is not known to host website of its own at present.
LITIGATION
For the past two years there is no record of litigation.
OWNERSHIP / MANAGEMENT BACKGROUND
*Major Shareholders*
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Total number of shareholder: 1
Shareholder's Name %
of Shares
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HALLIMAX (FAR EAST) LTD 100.00
MANAGEMENT
Management: Mr. Wan-li Hsu, Manager
Name Nationality
Job Description Dept. / Division
Mr. Wan-li Hsu Taiwanese
Manager Sales
*Key Personnel*
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(1)
Mr. Kanayalal Lokuram Sewani
Work experience : More
than 15 years.
Responsibility : Handles all legal and administrative
issues relating to the daily operations of the firm.
Resident status :
(2)
Mr. Wan-li Hsu
Work experience : More
than 11 years.
Resident status :
BUSINESS OPERATIONS
*Main Products & Services*
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Specializes in trading (local purchasing and export) of televisions, LCD
monitor and electronics products.
Note: The Company was previously engaged in trading bags, clocks,
houseware and other gift items.
Products: Tinplate
Video monitor
LCD monitor
components
LCD monitors
TV components
*Payment Terms*
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Sales
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Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Local : Cash
30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Associations*
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Member of :
- Indian's Association of
*Competitors*
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The following locally based firms supply similar range of products :
- ABUS ENTERPRISE CO LTD
- ACCESS MICROSYSTEMS CORP
- ACE ASIA CO LTD
- AISLE INT'L CO LTD
- AREA EAST CORP
*Local Distribution Network*
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5% of the annual turnover is attributed to local sales.
*Export Markets*
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95% of the annual turnover is attributed to export.
RELATED COMPANIES
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name :
HALLIMAX (FAR EAST) LTD
Country :
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Trader
Industry :
Electronic Products & Components
PAYMENT
PAYMENT RATING :3 OBTAINED SCORES : 55
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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
Although financial summaries were obtained for reference.
*Int´l Trade Activity (Currency:
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Year Imports Exports Total
2004 $0.00 $130,000.00 $130,000.00
2005 $0.00 $180,000.00 $180,000.00
2006 $30,000.00 $310,000.00 $340,000.00
Financial Summary (Currency:
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Year Sales Assets Net Income
2002 $0.00 $400,000.00 $400,000.00
2003 $50,000.00 $200,000.00 $250,000.00
2006 $559,250.30 n/a $36,275.70
REMARKS
Over the past 21 years, SC has made a stable growth with acceptable
profit. It is considered a credit line up to USD 30,000 appears to be within
SC’s capacities.
Attached Trade References
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 5065 Electronic
Parts/Equip, NEC
Trading 3651 Radio
& tv receiving sets; phonographs; recorders; microphones; loudspeakers;
audio amplifiers; & oth audio equip
Trading 3679 Electronic
components, nspf
Trading 5065 Electronic
Parts/Equip, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7326901000 Other
articles of tinplate (not household)
Exporting 8528210000 Video
monitors, color
Trading 8528 Television receivers (incl monitors
& proj receivers)
Trading 8528210000 Video
monitors, color
Trading 8542 Electronic
integrated circuits & microassembl, parts
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Trading Televisions
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
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%)