MIRA
INFORM REPORT
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Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
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Name : |
CHAU FENG CO., LTD. |
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Registered Office : |
24-1 Mei Kung 6 St Hualien City Hualien Hsien 970 |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
May 6, 1991 |
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Com. Reg. No.: |
86179617 |
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Legal Form : |
Private |
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Line of Business : |
Imports of marble
and granite blocks. Value-added processing of various types of marbles and
granites. Sales and distribution to local market. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Up To USD 30,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
CHAU FENG CO., LTD.
24-1 MEI KUNG 6 ST HUALIEN CITY HUALIEN HSIEN 970,
TEL : [+886] 3-8239916
FAX : [+886] 3-8239919
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY 6, 1991
REGISTRATION NO. :
86179617
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. HUAN-CHANG LIAO (CHAIRMAN)
STAFF STRENGTH :
7
CAPITAL :
US$ 181,050
BUSINESS LINE :
MANUFACTURER
TURNOVER :
US$1,550,785.97 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.6700 = 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 –
*Licenses & Permits*
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License number :
9966690000
Date issued :
10 July, 2000
Issuing authority :
Industrial Development Bureau, MOEA
Type of license :
Factory license
*Office & Facilities*
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Size
: 1,426 sq meter (Approx)
Location
:
Property status :
Owned by CHAU FENG CO LTD
Type of building :
Industrial building
Comment :
Serves as office and factory.
*Corporate & Organization Structure*
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A small-sized company operated and managed by the owner and
an experienced team of professionals.
*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.
Email : a86179617@yahoo.com.tw
For the past 16 years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name % of Shares
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Mr. Huan-chang Liao 99.00
Undisclosed Shareholder 1.00
Management : Mr. Huan-chang Liao, General Manager
Name Nationality Job
Description
Mr. Huan-chang Liao
Taiwanese General Manager
*Key Personnel*
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Mr. Huan-chang Liao
Founder
: Sole-founder
Resident status :
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. Imports of marble
and granite blocks.
2. Value-added processing of various types of marbles and
granites.
3. Sales and distribution to local market.
Products : Granite
Granite slabs
Marble & travertine
Marble slabs
Marbles
*Payment Terms*
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Sales
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Local : Cash
30-90 days
credit
Purchase
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Local : 30-90 days
credit
Import : Letter of Credit (L/C)
90-120
days Open credit and settlement using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range
of products:
- IN FONG ENTERPRISE CORP
- AYE-STAR CO LTD
- FAIR WIND INT'L CO LTD
- FORTUNE WINDS CO LTD
- CHEN LIANG ENTERPRISE CO LTD
*Domestic Customers*
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Most of domestic sales were achieved through construction
firms and smaller contractors specializing in marble and granite applications.
*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 : 3 OBTAINED SCORES : 56
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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
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
Bank Name : TAIWAN BUSINESS BANK
Branch : Tatung Dist,
Branch Address :
SWIFT Code : MBBTTWTP
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2004
$260,000.00 n/a $260,000.00
2005
$640,000.00 n/a $640,000.00
2006
$1,120,000.00 n/a $1,120,000.00
*Financial Summary (Currency:
==============================
Year Sales Assets Net Income
2006
$1,550,785.97 $296,251.51 $229,746.07
SC is considered small-sized in its line with a development history of 16 years. 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
Importing 1423 Crushed/Broken
Granite
Manufacturing 1423 Crushed/Broken Granite
Manufacturing 5039 Construction Materials, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Importing 2515110000 Marble and travertine, crude or roughly trimmed
Importing 2516110000 Granite, crude or roughly trimmed
Manufacturing
2515121000 Marble blocks and
slabs
Manufacturing
6802910500 Marble slabs
Manufacturing
6802911500 Marble, other
than slabs
Manufacturing
6802930000 Granite
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturer Marble
slabs
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
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%)