MIRA
INFORM REPORT
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Report Date : |
18.10.2007 |
IDENTIFICATION DETAILS
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Name : |
TIPINGSTONE CO LTD |
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Registered Office : |
3FL, 2, Alley 9, Lane 175, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
February 27, 1991 |
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Com. Reg. No.: |
86011836 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Importing and local purchasing of marble, granite slabs and garden
related decorative stones. Sales and distribution of purchased products 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 US$ 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
TIPINGSTONE CO LTD
3FL, 2, ALLEY 9, LANE 175,
TEL : 886-2-27366085
FAX : 886-2-27389180
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 27, 1991
REGISTRATION NO. :
86011836
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MR. KUO-SHENG CHEN (CHAIRMAN)
STAFF STRENGTH :
6
CAPITAL :
US$ 150,875
BUSINESS LINE :
TRADER
TURNOVER :
US$ 239,419.59 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.6 = 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 –
*Office & Facilities*
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Size : 100
sq. meters (Approx)
Location : Central
Business District (CBD)
Property status : Rented
Type of building :
Apartment
*Corporate & Organization Structure*
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A small-sized company operated and managed by the owner.
*Factories, Size & Locations*
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The company is a trading house 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.
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name % of Shares
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Mr. Kuo-sheng Chen 99.00
Undisclosed Shareholder 1.00
*COMPANY MANAGEMENT*
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Name Nationality
Job Description
Mr. Kuo-sheng Chen Taiwanese
General Manager
Mr. Ching-lung Huang Taiwanese
Representative
*Key Personnel*
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Mr. Kuo-sheng Chen
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. Importing and local purchasing of marble, granite slabs and garden
related decorative stones.
2. Sales and distribution of purchased products to local market.
Products: Cobblestones
Granite
Marbles
Stones
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Purchase
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Local : 30-60 days credit
Import : Letter of Credit (L/C)
*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
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Domestic Customers*
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Retailing directly to the construction industry and end-users.
*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.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : TIPINGSTONE CO LTD - KUEISHAN HSIANG
Branch Address : 256 Wen Hua 3rd Rd Kueishan Hsiang, Taoyuan Hsien 333
Branch Tel : [+886] 3-3280012
Branch Fax : [+886] 3-3973043
Branch Employees : 2
PAYMENT RATING : 4 OBTAINED SCORES : 48
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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.
*Bank Details*
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Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
Bank Name : TAIPEI FUBON COMMERCIAL BANK CO LTD
Branch : Ta-an Dist,
Branch Address :
SWIFT Code : TPBKTWTP
As a private limited company with a paid-up capital of less than US$ 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.
*Financial Summary (Currency:
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Year Sales Assets
Net Income
2006 US$ 239,419.59 US$ 33,252.72 US$ 21,342.20
*Int´l Trade Activity (Currency:
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Year Imports Exports Total
2004 US$ 160,000.00 US$ 0.00 US$ 160,000.00
2005 US$ 240,000.00 US$ 0.00 US$ 240,000.00
2006 US$ 190,000.00 US$ 0.00 US$ 190,000.00
SC is considered small-sized in its line with a 16 years history. It is
considered a credit line up to US$ 10,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 1423 Crushed/Broken
Granite
Importing 5032 Brick/Stone/Const
Materials
Importing 5039 Construction
Materials, NEC
Trading 1423 Crushed/Broken
Granite
Trading 5032 Brick/Stone/Const
Materials
Trading 5039 Construction
Materials, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2515 Marble,
travertine etc. and alabaster, crude etc.
Importing 2515121000 Marble
blocks and slabs
Importing 6801000000 Setts,
curbstones and flagstones, of natural stone (except slate)
Importing 6802910500 Marble
slabs
Importing 6802930000 Granite
Importing 6810 Articles
of cement, concrete or artificial stone
Trading 2515 Marble,
travertine etc. and alabaster, crude etc.
Trading 2515121000 Marble
blocks and slabs
Trading 6802910500 Marble
slabs
Trading 6802930000 Granite
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Marbles
Trader Cobblestones
Trader Stones
INTERNATIONAL TRADE : ACTIVITY & MARKETS
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%)