MIRA
INFORM REPORT
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Report Date : |
22.06.2007 |
IDENTIFICATION DETAILS
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Name : |
RAIN SHINE ENTERPRISE CO LTD |
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Registered Office : |
92 Yu Tso Chuang Yo Tong Village Chikou Hsiang Chiayi
Hsien 623 |
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Country : |
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Date of Incorporation : |
May 13, 1991 |
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Com. Reg. No.: |
86185532 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import of natural fragrant products and raw materials. Production of 100 kinds of potpourri and over 60 sorts of natural
fragrances. Engaged in OEM activities. Selling to both domestic and international markets. |
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 US$ 10,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
name & address
RAIN SHINE ENTERPRISE CO LTD
92 YU TSO CHUANG YO TONG VILLAGE CHIKOU HSIANG CHIAYI HSIEN
623,
TEL : 886- 5-2695289
FAX : 886-5-2695916
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY 13, 1991
REGISTRATION NO. :
86185532
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. MING-SHAO LU (CHAIRMAN)
STAFF STRENGTH :
20
CAPITAL :
US$ 150,557
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM.
MARKET CONDITION : average
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.1416 = US$1 AS OF 2007-6-19
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*
===================
License number : 86185532
Date issued : 13 May,
1991
Issuing authority : Ministry of
Economic Affairs (MOEA)
Legal form : Private
Limited Company
*Office & Facilities*
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Size : 800 sq. ft. (Approx)
Location : Chiayi
Hsien
Property status : Rented
Type of building :
Semi-Industrial building
Comments : Serves as
office, factory and warehouse.
*Corporate & Organization Structure*
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A medium sized company mainly operated and managed by an experienced
team of professionals and family members.
*Factories, Size & Locations*
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Land size : 3,300 sq.
ft. (Approx)
Location : Chiayi
Hsien
Property status : Rented
Type of building :
Semi-Industrial building
*Reputation*
===========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
Email : rs5772@ms18.hinet.net
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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Ming-shao Lu 2,500,000
Yu-chiao Chang
1,500,000
Yung-tung Lu 500,000
*COMPANY MANAGEMENT*
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Name Nationality
Job Description Dept. / Division
Ms. Fang-chiu Lu Taiwanese
Executive Marketing
Mr. Chen-yu Chang Taiwanese Manager Marketing
Mr. Ming-Shao Lu Taiwanese
General Manager -
*Key Personnel*
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Mr. Ming-shao Lu
Founder :
Co-founder
Responsibility : Handles the
daily operation of the firm including all financial and legal matters.
Years of experience : More than 8 years industry experience.
*Main Products & Services*
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Specializing in the following areas of work :
1. Import of natural fragrant products and raw materials.
2. Production of 100 kinds of potpourri and over 60 sorts of natural
fragrances.
3. Engaged in OEM activities.
4. Selling to both domestic and international markets.
Products : Poly styled potpourri
Potpourri
bags
Potpourri display
box
Relaxing cotton
bath bags
Sachets
potpourri
*Payment Terms*
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Sales
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Local : 30-60 days credit
Cash
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic Transfer
(T/T)
Purchases
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Local : 30-60 days credit
Import : Letter of Credit (L/C)
Open
account/Documents against Acceptance (D/A) terms with settlement by
Telegraphic Transfer
(T/T)]
*Competitors*
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The following locally based firms supply similar range of products :
- MIDAS PRODUCTS CORP
- WORLD WIDE TRADING CO LTD
- TZE TZAU FA SPICES CO LTD
- QUEENSFIELD INT'L INC
- TAIWAN IZUTSU CHEMICAL IND CO LTD
*Production Capacity*
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Current Capacity : 200,000 pcs/month
*Local Distribution Network*
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60% of the annual turnover is attributed to local sales.
*Export Markets*
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40% of the annual turnover is attributed to exports.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : XIAMEN JIN JIA ARTS & CRAFTS CO LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Giftware & Jewellery
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 : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : HNBKTWTP
Bank Name : TAIWAN BUSINESS BANK
Branch : Tatung Dist,
Branch Address :
SWIFT Code : MBBTTWTP
As a private limited company with a paid-up capital of less than US$ 6
million, there is no legal requirement according to
*Financial Summary (Currency:
================================
Year Sales Assets Net Income
2003 US$ 659,054.21 US$
219,031.14 US$ 7,781.17
*Int´l Trade Activity (Currency:
=================================
Year Imports Exports Total
2000 US$ 232,359.81 US$ 207,099.78 US$ 439,459.59
2001 US$ 239,319.36 US$ 194,105.77 US$ 433,425.13
2002 US$ 188,592.30 US$ 187,909.37 US$ 376,501.67
2003 US$ 191,368.60 US$ 263,621.68 US$ 454,990.28
2004 US$ 50,000.00 US$ 150,000.00 US$ 200,000.00
2005 US$ 45,000.00 US$ 50,000.00 US$ 95,000.00
2006 US$ 50,000.00 US$ 45,000.00 US$ 95,000.00
SC is considered small-sized in its line with a long operating history.
It is considered a credit line up to US$ 10,000 appears to be within SC’s
capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 0811 Foliage,
branches, etc, for bouquets or ornamental purposes (including
Christmas
trees)
Manufacturing 0811 Foliage,
branches, etc, for bouquets or ornamental purposes (including
Christmas
trees)
Manufacturing 2844 Toilet
preparations
Manufacturing 3999 Manufactured
articles
Trading 2844 Toilet
preparations
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 0604990000 Foliage,
branches & parts of plants w/o flowers or buds & grasses for bouquets
or
ornamental purpose, dried, dyed, bleached, impregnated otherwse prep
Exporting 0604993000 Foliage,
branches and other parts of plants, without flowers or buds, and grasses
suitable for bouquets or for
ornamental purposes, dried or bleached
Manufacturing 0603900000 Cut
flowers and flower buds of a kind suitable for bouquets or for ornamental
purposes,
dried, dyed, bleached, impregnated or otherwise prepared
Manufacturing 0604990000 Foliage,
branches & parts of plants w/o flowers or buds & grasses for bouquets
or
ornamental purpose, dried, dyed, bleached, impregnated otherwse prep
Manufacturing 0604993000 Foliage,
branches and other parts of plants, without flowers or buds, and grasses
suitable
for bouquets or for ornamental purposes, dried or bleached
Manufacturing 1211908090 Plants
and parts of plants, used primarily in perfumery, in pharmacy or for
insecticidal,
fungicidal or similar purposes, fresh or dried
Manufacturing 2106906087 Herbal
teas and herbal infusions comprising mixed herbs
Manufacturing 2906292000 Other
aromatic odiferous or flavoring compounds
Manufacturing 2918903500 Aromatic
odoriferous or flavoring compounds
Manufacturing 3301 Essential
oils; resinoids; terpenic by-products etc
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturing Air fragrances
Manufacturing Animal-figured fragrances
Manufacturing Aroma therapy products
Manufacturing Body oils
Manufacturing Candle lamps
Manufacturing Cotton-clothes-packed decor
Manufacturing Dry flowers
Manufacturing Essential oils
Manufacturing Essential oils & flavors
Manufacturing Scented sticks
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
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%)