MIRA
INFORM REPORT
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Report Date : |
06.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
WORLD SHINER JEWELLERY LTD |
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Registered Office : |
4FL-8 Fortune Winner Bldg 206 Sung Chiang Rd, Chungshan
Dist Taipei City 104 |
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Country : |
Taiwan |
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Date of Incorporation : |
13.09.1996 |
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Com. Reg. No.: |
97165604 |
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Legal Form : |
Private |
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Line of Business : |
1. Importing and selling of diamond jewelry to local market. 2. Handles daily sales activities from local customers. 3. Designing of customized jewelry
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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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
WORLD SHINER JEWELLERY LTD
4FL-8 FORTUNE WINNER BLDG 206 SUNG CHIANG RD
CHUNGSHAN DIST TAIPEI CITY 104, TAIWAN
TEL: 886-2-25639216
FAX: 886-2-25428151
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 13, 1996
REGISTRATION NO. :
97165604
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHIRAG BIPIN GANDHI (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 205,207
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.07300 = US$1 AS OF 2007-2-14
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –Taiwan New Dollars
*Company Name*
=============
Previous Name : T R
IMPEX CO LTD
Changed name to : WORLD
SHINER JEWELLERY LTD
Year of change :
2004
*Company Registration*
==================
License Number : 97165604
Date issued : 13
September, 1996
Issuing authority : Ministry Of
Economic Affairs (MOEA)
*Office & Facilities*
================
Size : 32 sq. meters
Property status : Rented
Type of building : Commercial
building
Comment : Serves as
office and warehouse.
*Factories, Size & Locations*
======================
The firm is only an importer and design house and does not engage in any
form of manufacturing.
*Corporate & Organization Structure*
=============================
A small sized company 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.worldshiner.com the design is
professional and the content is well organized. At present it is in English
version.
E-mail: taiwan@worldshiner.com
For the past two years there is no record of litigation.
*Major Shareholders*
================
Shareholder's Name
% of Shares
-------------------------- -----------------
Mr. Chirag Bipin Gandhi
99.00
Management: Mr. Pei-hsu Lu,
Manager
Mr. L. Chu, Executive
Mr. Chirag Bipin Gandhi, General Manager
Name Nationality
Job Description
Mr. Pei-hsu Lu Taiwanese
Manager Marketing
Mr. L. Chu Taiwanese
Executive Sales
Mr. Chirag Bipin Gandhi Indian General Manager -
*Key Personnel*
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Mr. Chirag Bipin Gandhi
Founder : Sole
Founder
Resident status : Taiwan
Work experience : More than 10 years
Responsibilities : Handles the
daily operation of the firm including all financials and legal matters.
Note
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Mr. Herson, Mr. Jhaveri, and Mr.
Mehda have all resigned and no longer associated with the company.
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing and selling of diamond jewelry to local market.
2. Handles daily sales activities from local customers.
3. Designing of customized jewelry
Products: Diamonds
Diamonds
non-industrial
GIA diamonds
Jewelry
Jewelry,
designing
*Payment Terms*
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Sales
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Local : Cash
Bank wire transfer
Purchases
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Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- CENTURY PLATINUM JEWELRY LTD
- ROSHAN INT'L LTD
- RIO TINTO LTD
- JUST GOLD DIAMOND CO LTD
- THAI FINE GEMS & JEWELRY LTD
- SU-RAJ DIAMONDS (THAI) CO LTD TAIWAN BRANCH
- CATHAY-OVERSEAS CO LTD
- PLATINUM JEWEL CO
- THAI FINE GEMS & JEWELRY LTD
- YU PAY JEWELRY CO
- SR TRADING LTD
- BRIGHT STAR DIAMOND CO LTD
*Domestic Customers*
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Main types of customers include:
1. Local retail jewelry shops
2. Local consumers directly, the conditional purchase amount is in
excess of USD10,000.
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales through agents.
*International Trade Activity*
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Some shipments are imported via air cargo. Therefore the above dollar
value of imports are only those which are imported by sea.
*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 : ISHA TRADING CO LTD
Country : Taiwan
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Giftware & Jewellery
Company Name : RD LTD TAIWAN BRANCH (HK)
Address : 8Fl-1, Bldg 2, Lane 79, Fu Hsing Rd Section 1 Chungshan Dist
Taipei City 104 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : n/a
Company Type : Trader
Industry : Giftware & Jewellery
Company Name : WORLD SHINER LTD TAIWAN BRANCH (HK)
Address : 4Fl-8 Fortune Winner Bldg 206 Sung Chiang Rd Chungshan Dist
Taipei City 104 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Importer
Industry : Giftware & Jewellery
PAYMENT RATING : 3 OBTAINED SCORES : 57
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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
MODERATE 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.
Although there were no disclosed financials, it is understood the firm's
annual turnover is in excess of USD 2.75 million.
*Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2001 $1,200,000.00 $0.00 $1,200,000.00
2002 $1,600,000.00 $0.00 $1,600,000.00
2003 $520,000.00 $0.00 $520,000.00
2004 $1,500,000.00 $0.00 $1,500,000.00
2005 $2,000,000.00 $0.00 $2,000,000.00
Over the past 11 years, SC has made a stable growth with satisfactory profit.
Credit dealings with SC in moderate amount can be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3911 Jewelry,
of precious metal
Importing 3961 Jewelry
of materials other than solid gold, platinum & silver
Importing 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 7102 Diamonds,
worked or not, not mounted or set
Importing 7102390010 Diamonds nonindustrial, (cut, faceted, not set or mounted)
weighing less than 0.5
carat
each
Importing 7116201000 Jewelry of precious or semiprecious stones
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from Asia
Importing from India
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%)