MIRA
INFORM REPORT
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Report Date : |
12th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
TAI-AQUA CO LTD |
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Registered Office : |
1fl, 48 Cheng Kung St 1fl Kuantien Hsiang, Tainan Hsien
720, Taiwan |
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Country : |
Taiwan |
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Date of Incorporation : |
17.03.1986 |
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Com. Reg. No.: |
22026665 |
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Legal Form : |
Private Company |
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Line of Business : |
1. Importing of raw materials/ingredients used in the production of
aqua-culture feed. 2. Manufacturing of various types of feed, with focus on aquatic
industry. |
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 20,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
TAI-AQUA
CO LTD
1FL, 48 CHENG KUNG ST 1FL KUANTIEN HSIANG, TAINAN HSIEN 720,
TAIWAN
TEL :
886-6-6987192
FAX :
886-6-6989806
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 17, 1986
REGISTRATION NO. :
22026665
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. KENNY MING-HUI LIN (CHAIRMAN)
STAFF STRENGTH :
15
CAPITAL :
US$ 545,176
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 20,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : TWD 33.02000 = US$1 AS OF 2007-3-9
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 Registration*
===================
License number : 22026665
Date issued : 17 March , 1986
Issuing authority : Ministry of Economic Affairs (MOEA)
*Licenses & Permits*
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License number : 9965770500
Date issued : 14 September, 1988
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Size : 320 sq ft (Approx)
Location : Tainan Hsien
Property status : Rented
Type of building : Commerical
building
Comments : Serves as office and factory.
Previous contact details
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Fax no : 6-6986335
*Corporate & Organization Structure*
============================
A medium sized company, operated and managed by the owner and an
experienced team of professionals.
SC is not known to host website of its own at present.
E-mail: tiaquatw@ms4.hinet.net
For the past two years there is no record of litigation.
*Major
Shareholders*
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Shareholders'
Name No of Shares
-------------------------- -------------------
Ms. Hsiu-nu Hsu
44,500
Ms. Wen-li Yeh 31,150
Ms. Chao-tsai Lin Chung
13,350
Mr. Kenny Ming-hui Lin
1,780
Management: Mr. Yi-ping Chen, Representative
Name Nationality Job Description
Mr. Yi-ping Chen Taiwanese
Representative
*Key Personnel*
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(1)
Mr. Kenny Ming-hui Lin
Founder : Co-founder
Work experience : More than 15 years
Responsibilities : Daily operation of the firm
including all financial and legal matters.
Resident status : Taiwan
(2)
Mr. Yi-ping Chen
Tel no :
6-2029202
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Importing of raw materials/ingredients used in the production of
aqua-culture feed.
2. Manufacturing of various types of feed, with focus on aquatic
industry.
Products: Egg albumin powder
Essential
oils
Vegetable saps
Pellets
Whey protein
concentrate
*Payment Terms*
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Sales
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Local : 30-60 days credit
Purchases
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Local : 30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Competitors*
==========
The following locally based companies supply similar range of products :
- TAIWAN HUNG KUO INDUSTRIAL CO LTD
- SINO-AQUA CORPORATION
- JUN-CHI ENTERPRISE CO LTD
- T & C INTERNATIONAL AGRICULTURE & LIVESTOCK CO LTD
- KAISER FARMING CO LTD
*Local Distribution Network*
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80% of the annual turnover is attributed to local sales.
*Export Markets*
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20% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : AMON
BIOTECH CO LTD
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Manufacturer
Industry :
Food Products
Company Name :
DUAL-TAIAQUA CORP
Address : 46
Cheng Kung St Kuantien Hsiang 720 Tainan Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Manufacturer
Industry :
Agricultural Products
Company Name : NEW
BELLUS ENTERPRISES CO LTD
Address : 48
Industrial Rd ERA Chen Village Kuantien Hsiang 720 Tainan Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Importer
Industry :
Food Products
PAYMENT
RATING :3 OBTAINED SCORES :
52
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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 : CHANG
HWA COMMERCIAL BANK LTD
Branch :
Central Dist,Taichung City
Branch Address : 38 Tzu
Yu Rd Section 2 Central Dist Taichung City 400 (Head Office)
SWIFT Code :
CCBCTWTP
Bank Name :
TAINAN FARMERS ASSOCIATION
Branch :
North Dist,Tainan City
Branch Address : 434 Cheng Kung Rd North Dist Tainan
City 704 (Head Office)
SWIFT Code : This
bank does not have a SWIFT Code
As a private limited company with a paid-up capital of less than USD 6
million, there is no legal requirement according to Taiwan corporate law for
public disclosure of detailed financials.
Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2003 $1,900,000.00 $270,000.00 $2,170,000.00
2004 $1,450,000.00 n/a $1,450,000.00
2005 $1,500,000.00 n/a $1,500,000.00
Over the past 21 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD 20,000 appears to be within
SC’s capacities.
ATTACHED: TRADE REFERENCES
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 5159 Farm-Prdt
Raw Materials, NEC
Importing 5191 Farm
Supplies
Manufacturing 2034 Food
products, dried and dehydrated
Manufacturing 2048 Prepared
feeds,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 0404100500 Whey protein concentrates, modified whey, whether or not
containing added
sugar
or other sweetening matter
Importing 1302190000 Vegetable saps and extracts
Importing 2301200000 Flours, meals and pellets, of fish or of crustaceans, molluscs
or other aquatic
invertebrates,
unfit for human consumption
Importing 3301291000 Essential oils of eucalyptus
Importing 3502110000 Egg albumin, dried
Importing 3503001000 Fish glue
Manufacturing 2309901050 Mixed
feeds or mixed feed ingredients used in animal feedings
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importing Whey protein products
Manufacturing Animal feed
ingredients
Manufacturing Mixed feeds
Manufacturing Aquaculture feeds
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from Asia
Importing from Brazil
Importing from China
Importing from Europe
Importing from Hong Kong
Importing from Iceland
Importing from India
Importing from Israel
Importing from Malaysia
Importing from Middle East
Importing from Netherlands
Importing from South Korea
Importing from Spain
Importing from Thailand
Importing from USA
Importing from United Kingdom
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%)