MIRA
INFORM REPORT
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Report Date : |
21.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
BRIGHT TIME ENTERPRISE CO LTD |
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Registered Office : |
1FL, 22 Chin Hua Rd Section 5 North Dist, Tainan City 704 |
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Country : |
Taiwan |
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Date of Incorporation : |
SEPTEMBER 30, 1980 |
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Com. Reg. No.: |
69644219 |
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Legal Form : |
Private |
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Line of Business : |
Import and domestic sales of a wide range of wine products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Up To USD 10,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
BRIGHT TIME ENTERPRISE CO LTD
1FL, 22 CHIN HUA RD SECTION 5 NORTH DIST
TAINAN CITY 704, TAIWAN
TEL : 886-6-2260098
FAX : 886-6-2260257
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 30, 1980
REGISTRATION NO. :
69644219
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. KUN-LUNG WU (CHAIRMAN)
STAFF STRENGTH :
15
CAPITAL :
US$ 459,418
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 10,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.97500 = US$1 AS OF 2007-2-16
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 : 69644219
Date issued : 30 September, 1980
Issuing authority : Ministry of Economic Affairs
(MOEA)
*Office & Facilities*
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Size : 298 sq meters (Approx.)
Location : Tainan City
Facilities : Modern
Property status : Rented
Type of building : Commercial Building
Comment : Serves as office and warehouse.
*Corporate & Organization Structure*
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A small-sized company mainly operated and managed by the owner.
*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.
Web
site: www.brighttime.com.tw SC’s website is unable to be landed at
present for the technical reason.
E-mail: brightt@ms29.hinet.net
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. Kun-lung Wu
99.00
Management: Mr. Kun-lung Wu, General Manager
Name Nationality
Job Description
Mr. Kun-lung Wu Taiwanese
General Manager
*Key Personnel*
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Mr. Kun-lung Wu
Founder :
Sole Founder
Work experience : More
than 25 years.
Responsibilities :
Handles the daily operation of the company including all financials and legal
matters.
*Main Products & Services*
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Specializes in the import and domestic sales of a wide range of wine
products.
Products: Red wines
Wines
Red wines
Wines
*Payment Terms*
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Sales
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Local : Cash
30-60 days credit
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 :
- ANSI ENTERPRISE CO LTD
- BACCHUS-PEGASUS INT'L CO LTD
- CHATEAU WINE & SPIRIT CO LTD
- EUROGROUP ENTERPRISE CORP
- FROCONCORD CO LTD
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*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.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES : 49
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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.
Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2003 $50,000.00 n/a
$50,000.00
2004 $100,000.00 n/a
$100,000.00
2005 $200,000.00 n/a
$200,000.00
Over the past 27 years, SC has made a fairly stable growth. It is
considered a credit line up to USD 10,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2082 Malt
beverages
Importing 2084 Wines,
brandy, and brandy spirits
Importing 5182 Wine/Distilled
Alcohol Bev
Trading 2082 Malt
beverages
Trading 2084 Wines,
brandy, and brandy spirits
Trading 5182 Wine/Distilled
Alcohol Bev
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2200 Beverages,
spirits & vinegar
Importing 2204 Wine
of fresh grapes; grape must
Importing 2204215005 Red wine of fresh grapes of an alcoholic strength by volume not
over 14% vol in
containers
holding 2 liters or less, valued not over $1.05/liter
Importing 2206 Fermented
beverages (cider, berry, mead etc)
Importing 2206006000 Effervescent wine other than of fresh grapes
Importing 2208907500 Other spirituous beverages
Trading 2200 Beverages,
spirits & vinegar
Trading 2204 Wine
of fresh grapes; grape must
Trading 2204215005 Red
wine of fresh grapes of an alcoholic strength by volume not over 14% vol in
containers
holding 2 liters or less, valued not over $1.05/liter
Trading 2206 Fermented
beverages (cider, berry, mead etc)
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from Europe
Importing from France
Importing from Germany
Importing from North America
Importing from USA
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%)