MIRA
INFORM REPORT
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Report Date : |
03.10.2007 |
IDENTIFICATION DETAILS
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Name : |
KING DER ASIA CO LTD |
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Registered Office : |
7, Alley 11, Lane 185, |
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Country : |
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Date of Incorporation : |
April 20, 1991 |
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Com. Reg. No.: |
86110815 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Local purchasing of various types of furniture. International trading of purchased 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 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
KING DER ASIA CO LTD
7, ALLEY 11, LANE 185,
TEL : 886-4-25158178
FAX : 886-4-25282722
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 20, 1991
REGISTRATION NO. :
86110815
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MS. YU-CHIH
STAFF STRENGTH :
4
CAPITAL :
US$ 150,875
BUSINESS LINE :
EXPORTER
TURNOVER :
USD 3,276,904.47 (AS OF 2006)
EQUITIES :
N/A (AS OF 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIR
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.5430 = 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 –
*Corporate & Organization Structure*
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A small -sized company mainly operated and managed by its owner.
*Office & Facilities*
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Size : 198 sq.
meters (Approx.)
Location :
Property status : Rented
Type of building : Apartment
Comment : Premises is
shared with affiliated company, TZUENN HORNG INT'L CO LTD
*Factories, Size & Locations*
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The company is a trading house focused on exports of overseas products,
and maintains no manufacturing facilities.
*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.
Email : kingder-tw@umail.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. Yu-chih Chu
255,000
Mr. Yuan-tsung Cheng
150,000
Ms. Yu-fang Cheng
40,000
Ms. Ya-hua Cheng
40,000
Name Nationality
Job Description Dept. / Division
Ms. Yu-chih
*Key Personnel*
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Ms. Yu-chih Chu
Founder : Co-founder
Resident status :
Work experience : More than 15
years experience.
Responsibilities : Handles the
daily operation of the firm including all financial, sales and legal matters.
Other position : Chairman of
TZUENN HORNG INT'L CO LTD
*Main Products & Services*
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Specializes in the following areas of work :
1. Local purchasing of various types of furniture.
2. International trading of purchased products.
Products : Combination
furnitures
Combination tea tables
Furniture
Living room furniture
Metal furniture
*Payment Terms*
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Sales
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Local : Cash
30 - 90 days
credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchase
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Local : 30 - 90 days credit
*Competitors*
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The following locally based firms supply similar range of products :
- ACE HOME CENTER TAIWAN CORP
- BAI-NENG FURNITURE CO LTD
- C D GREAT FURNITURE CO LTD
- C-CHRISDON TRADING CO LTD
- DAI SHENG ENTERPRISE CO LTD
*Exhibition Participation*
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Exhibition/fair :
Dates attended : 15 - 18 March, 2006
Location :
*Local Distribution Network*
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The company is largely focused on the export market, hence, very small
percentage of local sales are achieved.
*Export Markets*
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100% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : TZUENN HORNG INT'L CO LTD
Address : 7, Alley 11, Lane 185,
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Furniture
PAYMENT RATING : 3 OBTAINED SCORES : 58
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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 financial.
*BANK DETAILS*
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Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : ICBCTWTP
*Financial Summary
(Currency:
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Year Sales Assets Net Income
2006 $3,276,904.47 $39,298.67 $250,000.00
*Int´l Trade Activity (Currency:
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Year Imports Exports Total
2004 n/a $5,110,000.00
$5,110,000.00
2005 n/a $4,230,000.00
$4,230,000.00
2006 n/a $2,980,000.00
$2,980,000.00
SC is considered an old-established business in small size. Taking into consideration of SC’s general performance, reputation as well as market conditions we would rate SC as an above average credit risk company.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2500 Furniture
and Fixtures
Exporting 2514 Household
metal furniture
Exporting 2519 Household
furniture, NEC
Exporting 2522 Office
furniture, except wood
Exporting 2542 Counters,
lockers, racks, display cases, shelves, partitions, and similar fixtures,
of
metal
Exporting 5021 Furniture
Trading 2500 Furniture
and Fixtures
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 9403 Furniture
and parts thereof
Exporting 9403100020 Metal filing
cabinets of a kind used in offices
Exporting 9403200010 Household
metal furniture
Exporting 9403200020 Counters,
lockers, racks, display cases, shelves, partitions and similar fixtures of
metal
Exporting 9403200030 Metal
furniture
Exporting 9403806040 Household
furniture of other materials
Exporting 9403806080 Furniture
of other materials
Trading 9403 Furniture
and parts thereof
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Living room
furniture
Trader Furniture
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
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%)