MIRA
INFORM REPORT
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Report Date : |
26.10.2007 |
IDENTIFICATION DETAILS
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Name : |
CHARRY CO LTD |
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Registered Office : |
526 Ho Tou Rd Homei Chen Changhwa Hsien 508, |
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Country : |
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Date of Incorporation : |
10.04.1993 |
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Com. Reg. No.: |
84234333 |
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Legal Form : |
Private |
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Line of Business : |
Importing raw textile and fabric materials for in-house production and
value added processing. Manufacturing a wide range of articles for medical use. |
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 30,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
CHARRY CO LTD
526 HO TOU RD HOMEI CHEN CHANGHWA HSIEN 508,
TEL: 886-4-7564121
FAX: 886-4-7560121
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 10, 1993
REGISTRATION NO. :
84234333
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. AI-FEN CHANG (CHAIRMAN)
STAFF STRENGTH :
18
CAPITAL :
US$ 301,750
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (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 :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.42800 = 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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License number : 99649622
Date issued : 1 March, 2002
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
License number : 99680342
Date issued : 2 April, 2007
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Size : 272 sq meters (Approx)
Location : Changhwa Hsien
Property status : Owned by CHARRY CO LTD
Type of building : Commercial building
Other e-mail add : shengjih@ms47.hinet.net
*Factories, Size & Locations*
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No of workers : 6
The firm maintains two (2) manufacturing premises as listed below :
License number : 99649622
Building size : 6146 sq ft (Approx)
Location : Changhwa Hsien
Property status : Owned by CHARRY CO LTD
Facilities : Modern
Type of building : Industrial building
License number : 99680342
Building size : 380 sq ft (Approx)
Location : Changhwa Hsien
Property status : Rented
Facilities : Modern
Type of building : Industrial building
*Corporate & Organization Structure*
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A small-sized company operated and managed by the owner.
*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.
www.ubok.com.tw SC’s website is
unable to be landed at present for the technical reason.
E-mail: charry.a5@msa.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. Ai-fen Chang
3,750,000
Ms. Shu-fen Chang
3,750,000
Management:
Ms. Shu-fen Chang, Director
Ms. Li-chun Chiang, Executive
Ms. Ai-fen Chang, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Shu-fen Chang Taiwanese Director Sales
Ms. Li-chun Chiang Taiwanese
Executive Sales
Ms. Ai-fen Chang Taiwanese
General Manager -
*Key Personnel*
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Ms. Ai-fen Chang
Resident status :
Founder : Co-Founder
Work experience : More
than 14 years of industry experience.
Responsibilities : 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. Importing raw textile and fabric materials for in-house production and
value added processing.
2. Manufacturing a wide range of articles for medical use.
3. Exporting and domestic sales of its finished products.
Products: Adhesive tapes
Bandages
Cotton
Cotton fabric
Fabric materials
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Cash
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
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A) Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products:
- CHENSIN PACKING INDUSTRY CO LTD
- EASE TOWN INDUSTRIAL CO LTD
- HUNG HSU TEXTILE CO LTD
- I-MING SANITARY MATERIALS CO LTD
- MEDIPACK MEDICAL PACKAGING MFG CO
*Local Distribution Network*
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An estimated 66% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 34% of the annual
turnover is attributed to export.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : CHARRY CO LTD (FACTORY 2)
Branch Address : 61 Kuang Fu East Rd Pitou Hsiang, Changhwa Hsien 523
Branch Employees : 7
PAYMENT RATING : 3 OBTAINED SCORES : 57
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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 : TAICHUNG COMMERCIAL
BANK CO LTD
Branch : Homei Chen
Swift code : TCBBTWTH
*Financial Summary (Currency:
=============================
Year Sales Net Income
2006 $1,910,519.95 $178,355.50
*Int´l Trade Activity (Currency:
=============================
Year Imports Exports Total
2004 $500,000.00 $40,000.00 $540,000.00
2005 $400,000.00 $45,000.00 $445,000.00
2006 $200,000.00 $100,000.00 $300,000.00
SC is considered small-sized in its line with a development history of
14 years. A credit line up to USD 30,000 appears to be within SC’s capacities.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3841
Surgical and medical instruments and
apparatus,
Exporting 3845
Electromedical and electrotherapeutic
apparatus, and parts,
Exporting 5047
Medical/Dental Equip/Supplies
Importing 2399
Fabricated textile products,
Manufacturing 3841 Surgical and medical instruments and
apparatus,
Manufacturing 3845 Electromedical and electrotherapeutic
apparatus, and parts,
Manufacturing 5047 Medical/Dental Equip/Supplies
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3005
Bandages etc coated etc or
in retail medic etc form
Exporting 3919102055
Self-adhesive tape, in rolls not
exceeding
Exporting 3926201010
Gloves,seamless, surgical &
medical, of plastic
Exporting 5203005000
Cotton, carded or combed.
Exporting 5209220000
Woven fabrics of cotton, 85% or more
cotton by weight, bleached 3-thread or 4-
thread
twill, including cross twill, weighing over
Exporting 5803
Gauze (other than narrow
fabrics not over
Exporting 5803904090
Gauze, containing less than 85
percent by weight of silk or silk waste, other than
narrow
fabrics of heading 5806
Exporting 9018908000
Other instruments and appliances
used in medical, surgical, dental or veterinary sciences
Exporting 9019200000
Ozone therapy, oxygen therapy,
aerosol therapy, artifical respiration or other
therapeutic
respiration apparatus; parts and accessories
Exporting 9020006000
Other breathing appliances and gas
masks
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturer Medical gloves
Manufacturer Gloves
Manufacturer Adhesive tapes
Manufacturer Cotton
Manufacturer Bandages
Manufacturer Gauze
Manufacturer Medical mask
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
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%)