MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
FORTUNE ONE INTERNATIONAL COMPANY LIMITED |
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Registered Office : |
4FL, 16 HSIN-I Rd
Section 5 HSIN - I Dist Taipei City 110 |
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Country : |
Taiwan |
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Date of Incorporation : |
20.12.1997 |
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Com. Reg. No.: |
16291763 |
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Legal Form : |
Private |
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Line of Business : |
Domestic purchase and imports of a wide range of battery and other
related electronic products |
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 60,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name and address
FORTUNE ONE INT'L CO LTD
4FL, 16 HSIN-I RD SECTION 5 HSIN-I DIST
TAIPEI CITY 110,
TAIWAN.
TEL:
886-2-27222906 FAX: 886-2-27221309
EXECUTIVE SUMMARY
INCORPORATION DATE : DECEMBER 20, 1997
REGISTRATION NO. : 16291763
LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : MS. LING-HUA WU (CHAIRMAN)
STAFF STRENGTH : 8
CAPITAL : US$ 603,500
BUSINESS LINE : TRADER
TURNOVER : N/A (AS OF DEC. 31,
2006)
EQUITIES : N/A (AS OF
DEC. 31, 2006)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 60,000
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
*Office &
Facilities*
================
Size : 106 sq meters
(Approx)
Location : Central Business District
(CBD)
Property status : Owned by FORTUNE ONE INT'L CO LTD
Type of building :
Commercial building
Previous Contact
Details
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(1)
Address : 7Fl, 18 Sung Teh Rd Hsin-i
Dist Taipei City 110
(2)
Address : 10Fl, 120 Chung Hsiao East
Rd Section 2 Chungcheng Dist Taipei City 100
*Factories, Size
& Locations*
======================
The company is a
trading house focused on importation of products and maintains no manufacturing
facilities.
*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.
SC is
not known to host website of its own at present.
E-mail: fuitpe@ms45.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. Ling-hua Wu
1,999,998
Ms. Ching-fen Wu 1
Ms. Ching-ling Wu 1
Management: Ms. Ling-man Liu,
Manager
Ms. Ling-hua Wu, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Ling-man Liu Taiwanese
Manager Sales
Ms. Ling-hua Wu Taiwanese
General Manager -
*Key Personnel*
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Ms. Ling-hua Wu
Resident status : Taiwan
Founder :
Co-Founder
Work experience : More than 10 years
Responsibilities : Handles the
daily operation of the firm including all financial and legal matters.
*Main Products & Services*
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Specializing in the following main areas of work:
1. Domestic purchase and imports of a wide range of battery and other
related electronic products.
2. Exports and domestic sales of its purchased products.
Products: Batteries
Battery
chargers
Electronic
products
Indicator
panel
Monitors
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Document against Acceptance (D/A)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-90 days credit
*Competitors*
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The following locally based companies supply similar range of products:
- CHIEF KING ENTERPRISE CO LTD
- SHOKY ELECTRONICS CO LTD
- THUNDEROUS SOUNDERS ELECTRONIC LTD
- TOP BEST TECHNOLOGY CO LTD
- TURBO ELECTRONICS CO LTD
*Local Distribution Network*
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An estimated 10% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 90% of the annual turnover is attributed to export.
*International Trade Ranking*
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The firm has been ranked among Taiwan's Top Importers/Exporters based on
the standard measured by the Board of Foreign Trade (BOFT)
Details of rank are as follows :
Year Rank
----- ------
2003 2152
SC is not known to have any subsidiary at
present.
PAYMENT
RATING : 3 OBTAINED SCORES :
52
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Rating Key |
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 SINOPAC CO LTD
Branch : Chungshan Dist, Taipei City
Branch Address : 941 Chien Kuo North Rd Section 2 Chungshan Dist Taipei
City 104 (Head Office)
SWIFT Code : SINOTWTP
Bank Name : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist, Taipei City
Branch Address : 10Fl, 30 Chungking South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : FCBKTWTP
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2004 $45,000.00 $10,000,000.00 $10,045,000.00
2005 $0.00 $7,000,000.00 $7,000,000.00
2006 $50,000.00 $8,000,000.00 $8,050,000.00
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Net Income
2006 $9,885,126.96 $98,246.67
SC is considered small-sized in its line with a development history of
10 years. Taking into consideration of SC’s general performance, a credit line
up to USD 60,000 would appear to be within SC’s capacities.
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3600 Electronic
& Electric Equip.
Exporting 3699 Electrical
equipment and supplies, and parts,
Exporting 5064 Electrical
Appliances
Exporting 5065 Electronic
Parts/Equip, NEC
Trading 3600 Electronic
& Electric Equip.
Trading 3692 Primary
batteries, and parts,
Trading 3699 Electrical
equipment and supplies, and parts,
Trading 5064 Electrical
Appliances
Trading 5065 Electronic
Parts/Equip, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8525200500 Radio transcievers, citizens band (cb), hand-held
Exporting 8531800020 Indicator panels
Trading 8471603500 Color
cathode-ray tube (crt) monitors
Trading 8543 Electrical
mach etc, with ind functions, parts
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Monitors
Trader Transceivers
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Belgium
Exporting to Europe
Exporting to Hong Kong
Exporting to Japan
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%)