MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
TIEN YEOU TRADING CO LTD |
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Registered Office : |
9, Lane 160, Cheng Pei 1st Rd Yungkang City, Tainan Hsien
710 |
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Country : |
Taiwan |
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Date of Incorporation : |
February 23, 1991 |
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Com. Reg. No.: |
86077941 |
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Legal Form : |
Private |
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Line of Business : |
Importation of various types of chemical material. Manufacture of industrial soap. Sales 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 USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
TIEN YEOU TRADING CO LTD
9, LANE 160, CHENG PEI 1ST RD YUNGKANG CITY
TAINAN HSIEN 710, TAIWAN
TEL : 886-6-2539293
FAX : 886-6-2547883
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 23, 1991
REGISTRATION NO. :
86077941
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. HSIU-HSIA HSIEH (CHAIRMAN)
STAFF STRENGTH :
16
CAPITAL :
US$ 1,448,401
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 100,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.36350 = US$1
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
*Licenses & Permits*
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(1)
License number : 9965983900
Date issued : 21
November, 1994
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 9965985500
Date issued : 6 August,
1999
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(3)
License number : 9968478100
Date issued : 25 July, 1995
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
Office & Facilities*
===============
The office is located at the same premises as the factory.
Previous Contact Details
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Address : 221 Chung Hus West St, 710, Tainan Hsien
*Corporate & Organization Structure*
===========================
A small-sized company operated and managed by the owner and an
experienced team of professionals.
*Factories, Size & Locations*
======================
Size : 400
square meters (Approx)
Location : Tainan
Hsien
Type of building : Industrial
building
Property status : Rented
Comments : - Serves as
office and factory.
Note: Focused on value-added processing of soap.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
E-mail: tien_yeou@ms55.hinet.net
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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Ms. Hsiu-hsia Hsieh 1,970,000
Mr. Kuan-chin Hu
560,000
Mrs. Lien-chih Chen Hsieh 10,000
Mr. Chi Hu
1,840,000
Management: Ms. Hsiu-hsia Hsieh, Manager
Name Nationality
Job Description Dept. / Division
Ms. Hsiu-hsia Hsieh Taiwanese
Manager Sales
*Key Personnel*
============
Ms. Hsiu-hsia Hsieh
Founder :
Co-founder
Resident status : Taiwan
Work experience : More than 15
years experience.
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 various types of chemical material.
2. Manufacture of industrial soap.
3. Sales to both domestic and international markets.
Products: Chemical material
Detergents
Formic acid
Resins
Soaps
*Payment Terms*
-=============
Sales
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Local : 30-90 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Open account /DA
terms with settlement using TelegraphicTransfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- BELT MASTER CO LTD
- GENTURN ENT CO
- GOLEDAN ENTERPRISE CO LTD
- BUENO ENTERPRISE CO LTD
- JINTEX CORP LTD
*Local Distribution Network*
======================
Approximately 85% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 15% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
==============================
Company Name : CHI CHENG CHEMICAL MATERIALS CO
Address : 9, Lane 160, Cheng Pei 1st Rd Yungkang City 710 Tainan Hsien
Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
PAYMENT RATING : 3 OBTAINED SCORES : 54
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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.
Although financial summaries were obtained for reference.
*Bank Details*
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Bank Name : BANK OF TAIWAN
Branch : Chungcheng Dist, Taipei City
Branch Address : 120 Chung Ching South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : BKTWTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist, Taipei City
Branch Address : 123 Jhongsiao E Rd Section 2 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : ICBCTWTP
*Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2004 $1,630,000.00 $110,000.00 $1,740,000.00
2005 $1,470,000.00 $80,000.00 $1,550,000.00
2006 $1,590,000.00 $220,000.00 $1,810,000.00
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Net Income
2006 $1,998,186.22 $179,262.39
SC is considered small-sized in its line with a 16 years development history.
Taking into consideration of SC’s general performance, a credit line up to USD
100,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2841 Soap
and other detergents, except specialty cleaners
Manufacturing 2841 Soap
and other detergents, except specialty cleaners
Trading 2899 Chemical
preparations,
Trading 5169 Chemicals/Allied
Prdts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3202105000 Synthetic organic tanning subst,nesoi
Importing 2830900000 Sulfides and polysulfides
Importing 3202100000 Synthetic organic tanning substances
Importing 3202905000 Tanning preparations
Importing 3402901000 Synthetic detergents
Manufacturing 3401 Soap,
organic surf-act prep for soap use, bars etc
Trading 1300 Lac,
gums, resins, etc.
Trading 2915110000 Formic
acid
Trading 3202 Syn org & inorg tanning subst;
tan prep; enz prep
Trading 3800 Miscellaneous
chemical products
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Chemical
material
Trader Tanning
substances
Trader Resins
Trader Formic
acid
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Malaysia
Importing from Asia
Importing from Australia
Importing from China
Importing from Europe
Importing from India
Importing from South Korea
Importing from Spain
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. |
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%)