MIRA
INFORM REPORT
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Report Date : |
26.10.2007 |
IDENTIFICATION DETAILS
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Name : |
T-SOK CO LTD |
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Registered Office : |
2FL, |
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Country : |
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Date of Incorporation : |
May 25, 2006 |
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Com. Reg. No.: |
28187929 |
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Legal Form : |
Private |
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Line of Business : |
Importing a wide range of specialized die and tooling components. Export and domestic sales of its imported equipment. |
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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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
name & address
T-SOK CO LTD
2FL, 7 FU LUNG RD
TEL : 886-2-82876455
FAX : 886-2-82876440
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
25, 2006
REGISTRATION NO. :
28187929
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. DAVID KUN-SU KAO (CHAIRMAN)
STAFF STRENGTH :
4
CAPITAL :
US$ 30,175
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM.
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY 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 –
*Office & Facilities*
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Size : 61 sq. meters (Approx)
Location :
Property status : Rented
Type of building : Commercial
building
Previous Contact Details
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Address : 6Fl, 38-3, Lane 62,
Tel no : 2-26434974
Fax no : 2-26470169
*Factories, Size & Locations*
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The company is a trading house focused on importation of overseas
components and maintains no manufacturing facilities.
*Corporate & Organization Structure*
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A small-sized company mainly operated and managed by the owner of the
firm.
*Reputation*
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Due to the recent incorporation of the firm, it was not possible to
identify any points of references, or trade references for the firm within the
electronics industry.
SC is not known to host website of its own at present.
E-mail: tsok.tw@msa.hinet.net
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. David Kun-su Kao 99.00
Undisclosed Shareholders 1.00
Management: Mr. Yong-hung Lin,
Manager
Mr. David Kun-su Kao, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Yong-hung Lin Taiwanese
Manager Sales
Mr. David Kun-su Kao Taiwanese General Manager -
*Key Personnel*
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Mr. David Kun-su Kao
Founder : Sole
Founder
Work experience : More than 1 year
Responsibilities : Handles the
daily operation of the firm including all financials, sales and legal matters.
Resident status :
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing a wide range of specialized die and tooling components.
2. Export and domestic sales of its imported equipment.
Products: Die springs
Die-casting
machines
Dies gas
ejectors
In-die tapping
units
M1B tapping units
*Payment Terms*
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Sales
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Local : 30 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Local : 30 days credit
Import : Letter of Credit (L/C)
Open Account (D/A)
with settlement using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products:
- HEIGHT & TALENT CO LTD
- POOKOO INDUSTRIAL CO LTD
- ZITAI PRECISION MACHINERY CO LTD
- SHIN FENG PRECISION INDUSTRY LTD
- CHIAUS-PRO PRECISE LTD
*Local Distribution Network*
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Approximately 70% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 30% of the annual turnover is attributed to re-exports of
imported products to
*IMPORTER AGENCY LISTING*
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Supplier : TECHMIRE LTD
Country of Origin :
Product Description : Die-casting machines
Brand : TECHMIRE
Year : 2006
Supplier : PRONIC SA
Country of Origin :
Product Description : In-die tapping units
Brand : PRONIC
Year : 2006
Supplier : BORDIGNON TRADING SPA
Country of Origin :
Product Description : Tapping units
Brand : Bordignon
Year : 2006
PAYMENT RATING : 4 OBTAINED SCORES : 35
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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 paid-up capital of less than USD 6
million, there is no legal requirement according to
Furthermore, the company was only incorporated more than a year ago,
hence has not yet submitted financials to Tax Authorities for their first year
of operations.
*Bank Details*
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Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist,
Branch Address :
SWIFT Code : CCBCTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : ICBCTWTP
*Int´l Trade Activity (Currency:
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Year Imports Exports Total
2006 $200,000.00 $50,000.00 $250,000.00
SC is considered small-sized in its line with a short history. Credit dealings
with SC in small amount appear acceptable.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3429 Hardware,
Trading 3500 Industrial
Machinery & Equipment
Trading 3544 Special
dies, tools, jigs, and fixtures
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 8205100000 Drilling,
threading or tapping tools and parts thereof, base metal
Trading 8207 Interchange
tools for hand- or machine-tools, bmpt
Trading 8412310080 Linear
acting pneumatic motors (cylinders)
Trading 8454300010 Die
casting machines
Trading 8459700020 Threading
or tapping machines, metal removing, numerically controlled
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader M1B tapping
units
Trader M1D tapping
units
Trader Tapping
units
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%)