MIRA
INFORM REPORT
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Report Date : |
27.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SMART FAITH TRADING CO LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
August 14, 2001 |
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Com. Reg. No.: |
12938360 |
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Legal Form : |
Private |
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Line of Business : |
Processing / tanning of
imported raw cow hides. Exporting processed cow hides and leather. |
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 : |
Regular |
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Litigation : |
Clear |
name &
address
SMART FAITH TRADING CO LTD
117 MENG SHENG RD TAYUAN HSIANG TAOYUAN HSIEN 337,
TEL : 886-3-3864475
FAX : 886-3-3854055
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUGUST 14, 2001
REGISTRATION NO. :
12938360
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE : MRS. SU-LAN CHOU (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 241,692
BUSINESS LINE :
PROCESSING AND TRADING
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.90505 = US$1 AS OF 2007-7-26
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 : 12938360
Date issued : 14 August
2001
Issuing authority : Ministry of Economic
Affairs (MOEA)
Office & Facilities*
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Size : 1,200
square meters (Approx)
Location : Taoyuan
Hsien
Property status : Rented by
SUN YOUNG LONG ENTERPRISE CO LTD
Type of building : Industrial building
Comments : Serves as
office and warehouse.
*Factories, Size & Locations*
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The company is responsible for international markets., distribution, and
logistics related to importing raw materials used by their affiliated
manufacturing facilities.
The factory plant and facilities, however, is NOT owned by SMART FAITH
TRADING CO LTD but by SUN YOUNG LONG ENTERPRISE CO LTD
*Corporate & Organization Structure*
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A small sized company operated and managed by the owner and family
members.
*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.
E-mail: weber@syl.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name
% of Shares
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Su-lan Chou 99.00
Undisclosed shareholder
1.00
Management: Mr. David Hsu,
Executive
Ms. Yen-hua Liao, Manager
Name Nationality
Job Description Dept. / Division
Mr. David Hsu Taiwanese
Executive Sales
Ms. Yen-hua Liao Taiwanese
Manager Sales
*Key Personnel*
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Mrs. Su-lan Chou
Founder : Sole founder
Place of birth :
Work experience : More than 5 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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Specializing in two main areas of work :
1. Processing / tanning of
imported raw cow hides.
2. Exporting processed cow hides and leather.
Products: Bovine leather
Cattle hides
Cow hides
Cow skin
Leather
*Payment Terms*
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Sales
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Local : Cash
30 - 90 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Document against
Acceptance (D/A)
Purchases
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Local : Cash
30 - 90 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Document against
Acceptance (D/A)
*Competitors*
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The following locally based companies supply similar range of products:
- GENTURN ENT CO
- KUNG-DA INDUSTRIAL CO LTD
- GO ASIA LEATHER CO
- LYNNTON CORP
- OCEAN HILL INDUSTRIAL CO LTD
*Local Distribution Network*
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10% of the annual turnover is attributed to local sales.
*Export Markets*
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90% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : SUN YOUNG LONG ENTERPRISE CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
PAYMENT RATING : 3 OBTAINED SCORES : 50
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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 local corporate law for public
disclosure of detailed financials.
*Bank Details*
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Bank name : MEGA INT'L COMMERCIAL
BANK CO LTD
Branch : Ming Sheng
Swift code : ICBCTWTP
*Int´l Trade Activity (Currency:
==============================
Year Imports Exports Total
2004 $15,000.00 $35,000.00 $50,000.00
2005 $37,000.00 $65,000.00 $102,000.00
2006 $760,080.00 $224,864.05 $984,944.05
SC is considered small-sized in its line with an acceptable base to come
into credit dealings of small amount.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3100 Leather
and Leather Products
Trading 3111 Leather,
tanned or finished
Trading 3199 Leather
goods,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 4107 Leather
of animals, no hair
Trading 4107102000 Leather
of other animals, without hair on, of swine, wet blues
Trading 4203 Articles
of apparel & access, leather & comp leather
Trading 4205 Articles
of leather
INTERNATIONAL TRADE : ACTIVITY & MARKETS
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%)