MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SHUI LUNG MARINE CO LTD |
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Registered Office : |
2FL, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
June 10, 1995 |
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Com. Reg. No.: |
89548214 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importation of fruits and seafood products. Sales and distribution to local market. |
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 : |
Up To USD 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
SHUI LUNG MARINE CO LTD
2FL,
TEL : 886-7-8232711
FAX : 886-7-8232101
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 10, 1995
REGISTRATION NO. :
89548214
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. CHENG-YEN TSAI (CHAIRMAN)
STAFF STRENGTH :
23
CAPITAL :
US$ 602,228
BUSINESS LINE :
IMPORTER
TURNOVER :
US$3,627,569.53 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.13000 = US$1 AS OF 2007-6-5
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
*Company History*
===============
1994 -
Mr. Chang-Lung Tsai established the company and started to import the aquatic
products
and fruit from abroad for wholesale
throughout the
*Company Registration*
===================
License number : 89548214
Date issued : 10 June,
1995
Issuing authority : Ministry of
Economic Affairs (MOEA)
*Office & Facilities*
===============
Size : 3,964
sq. meters (approx.)
Location :
Property status : Rented
Type of building : Commercial
building
Comments : Serves as
office and warehouse.
Other Contact Details
------------------------------
Tel no. : 7-8158508
Fax no. : 7-8158207
E-mail :
shuilung@seed.net.tw
*Corporate & Organization Structure*
=============================
A small sized company mainly 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.
Web
site: www.fruitseafood.com.tw
The design is professional and the content is well organized. At present
it is both in Chinese and English versions.
E-mail: info@fruitseafood.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholder's Name % of Shares
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Mr. Cheng-yen Tsai 99.00
Undisclosed shareholder/s 1.00
Management: Ms. Li-chen Chiu,
Manager
Mr. Chang-lung Tsai, Managing Director
Mr. Cheng-yen Tsai, President
Name Nationality
Job Description Dept. / Division
Ms. Li-chen Chiu Taiwanese
Manager Int'l Marketing
Mr. Chang-lung Tsai Taiwanese
Managing Director -
Mr. Cheng-yen Tsai Taiwanese
President -
*Key Personnel*
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(1)
Mr. Chang-lung Tsai
Work experience : - Former Managing Director, TING LING ENTERPRISE CO
LTD
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Previous employee, CHAO NENG ENTERPRISE CO LTD
Association : - President,
United Association of
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Current Vice-president, Pingtung
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Standing Director,
- Director,
World Ko & Tsai Clan Association
(2)
Mr Cheng-yen Tsai
Founder : Sole
Founder
Resident status :
Work experience : More than 5 years.
Responsibilities : Handles the
daily operation of the firm including all financials, sales and legal matters.
*Main Products & Services*
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Specializes in the following areas of work :
1. Importation of fruits and
seafood products.
2. Sales and distribution to
local market.
Products: Apples
Aquatic
products
Baby octopus
Cherry
Coconut
*Payment Terms*
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Sales
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Local : Cash or Credit
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply identical range of products
:
- ALL FRESH INT'L CO
- BON CROP TRADING CO LTD
- HARVEST AGRICULTURE LTD
- KINGO FRUITS CO LTD
- PREAMAX TRADING CO LTD
- LONG DIANN MARINE BIOTECHNOLOGY CO LTD
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales to seafoods,
fruit markets, wholesalers and restaurants.
*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.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : SHUI LUNG MARINE CO LTD -
Branch Address :
Branch Tel : [+886] 8-7235477
Branch Fax : [+886] 8-7237261
Branch : SHUI LUNG MARINE CO LTD -
Branch Address : 2Fl-3,
Branch Tel : [+886] 2-22211090
Branch Fax : [+886] 2-22214131
Branch Employees : 5
Branch Management
Name Job Description Nationality
Ms. Shu-chuan Huang Manager Taiwanese
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : CHIAN LUN INTERNATIONAL CO LTD
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Food Products
Company Name : DIING NONG ENTERPRISE CO LTD
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Food Products
Company Name : JAU NENG AGRICULTURAL MARINE CO LTD
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Food Products
PAYMENT RATING : 3 OBTAINED SCORES : 60
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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 : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : HNBKTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungshan Dist,
Branch Address :
SWIFT Code : ICBCTWTP
Bank Name : TAIWAN BUSINESS BANK
Branch : Tatung Dist,
Branch Address :
SWIFT Code : MBBTTWTP
*Financial History*
===============
1998 & 1999 -
Capital was increased for the purpose of expanding the foreign purchasing posts
as well as the business levels.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*Financial Summary (Currency:
===============================
Year Sales Net Income
2006 $3,627,569.53 $103,990.33
*Int´l Trade Activity (Currency:
==============================
Year Imports Exports Total
2003 $1,000,000.00 $50,000.00 $1,050,000.00
2004 $1,500,000.00 $0.00 $1,500,000.00
2005 $2,000,000.00 $0.00 $2,000,000.00
2006 $2,250,000.00 $0.00 $2,250,000.00
SC is considered small-sized in its line with stable financial
condition. It is considered a credit line up to USD 50,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2000 Food
and Kindred Products
Importing 2037 Frozen
fruits, fruit juices, and vegetables
Importing 2092 Fresh/Frozen
Fish/Seafood, NEC
Importing 2099 Food
products,
Importing 5146 Fish
& Seafood
Importing 5148 Fresh
Fruits & Vegetables
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 0301 Fish,
live
Importing 0302 Fish,
fresh or chilled (no fillets or other meat)
Importing 0303 Fish,
frozen (no fish fillets or other fish meat)
Importing 0307 Molluscs
& aquatic invertebrates, live etc
Importing 0307490010 Squid
fillets, frozen
Importing 0307490050 Squid
(excluding frozen fillets), frozen, dried, salted or in brine
Importing 0307510000 Octopus,
live, fresh or chilled
Importing 0508 Coral,
shell of molluscs etc unworked powder/waste
Importing 0511910000 Products
of fish or crustaceans, molluscs or other aquatic invertebrates; dead
animals
of chapter 3
Importing 0801190000 Coconuts,
other than desiccated
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importing Conches
Importing Cooked octopus
Importing Coral trout
Importing Crab claw meat
Importing Dragon fruits
Importing Duck tongue
Importing Durian
Importing Fan shell
Importing Fish
Importing Fish throat
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from
Importing from
Importing from
Importing from
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%)