MIRA
INFORM REPORT
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Report Date : |
26.09.2007 |
IDENTIFICATION DETAILS
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Name : |
RED HOPE CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
June 8, 1999 |
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Com. Reg. No.: |
16936188 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Importing a wide range of dyestuffs for textiles. Domestic sales of its imported 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 : |
Up To US$ 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
RED HOPE CO LTD
TEL : 886- 2-27422282
FAX : 886-2-27422286
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 8, 1999
REGISTRATION NO. :
16936188
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MS. HSIU-MEI HSU (CHAIRMAN)
STAFF STRENGTH :
8
CAPITAL :
US$ 157,978
BUSINESS LINE :
TRADER
TURNOVER :
US$ 1,151,753.33 (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 33.192 = 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 : 80
sq. meters
Location :
Property status : Rented
Type of building : Commercial
building
Comments : - Serves as office and warehouse.
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Premises is shared with HONOR & HONESTY DYES & CHEMICALS CO LTD.
*Corporate & Organization Structure*
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A small-sized company mainly operated and managed by the owners of the
firm.
*Factories, Size & Locations*
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The company is a trading house focused on importation 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.
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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Ms. Hsiu-mei Hsu 99
Undisclosed shareholders 1
*COMPANY MANAGEMENT*
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Name Nationality
Job Description Dept. / Division
Ms. Hsiu-mei Hsu Taiwanese
Manager Sales
*Key Personnel*
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Ms. Hsiu-mei Hsu
Founder : Sole-
founder
Work experience : More than 6 years
Responsibilities : Handles the
daily operation of the firm including all financials 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 dyestuffs for textiles.
2. Domestic sales of its imported products.
Products : Acid dyes
Basic dyes
Direct dyes
Reactive
dyes
Textile dyes
*Payment Terms*
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Sales
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Local : 30-90 days credit
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- FORMOSE CHEMICAL CO LTD
- I N T INT'L INC
- PROTEX ENTERPRISE CO LTD
- TSUNG CHIA TRADING CO LTD
- ABLE ADVANCED CHEMICALS CO LTD
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*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.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : RED HOPE CO LTD -
Branch Address : 7Fl-2,
Branch Tel : [+886] 3-3582388
Branch Fax : [+886] 3-3582399
Branch Employees : 3
*(Subsidiaries , Joint-ventures & Affiliates)
==================================
Company Name : HONOR & HONESTY DYES & CHEMICALS CO LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
PAYMENT RATING : 3 OBTAINED SCORES : 57
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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 : TAI-SHING INT'L BANK
SWIFT Code : This bank does not have a SWIFT Code
Bank Name : TAIWAN BUSINESS BANK
Branch : Tatung Dist,
Branch Address :
SWIFT Code : MBBTTWTP
As a private limited company with a paid-up capital of less than US$ 6
million, there is no legal requirement according to
Although financial summaries were obtained for reference.
*Financial Summary (Currency:
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Year Sales Assets Net Income
2006 US$ 1,151,753.33 US$
63,482.47 US$ 57,436.52
*Int´l Trade Activity (Currency:
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Year Imports Exports Total
2001 US$ 50,000.00 US$ 0.00 US$ 50,000.00
2002 US$ 250,000.00 US$ 0.00 US$ 250,000.00
2004 US$ 250,000.00 US$ 0.00 US$ 250,000.00
2005 US$ 600,000.00 US$ 0.00 US$ 600,000.00
2006 US$ 632,000.00 US$ 0.00 US$ 632,000.00
SC is considered small-sized in its line with an 8 years history. It is
considered a credit line up to US$ 50,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2800 Chemicals
and Allied Products
Importing 2899 Chemical
preparations
Trading 2800 Chemicals
and Allied Products
Trading 2899 Chemical
preparations
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3204120000 Acid
dyes, whether or not premetallized, and preparations based thereon;
mordant
dyes & preparations based thereon
Importing 3204130000 Basic
dyes and preparations based thereon
Importing 3204140000 Direct
dyes & preparations based thereon
Trading 3204 Syn
org coloring matter & prep; syn org brit agent
Trading 3204120000 Acid
dyes, whether or not premetallized, and preparations based thereon;
mordant
dyes & preparations based thereon
Trading 3204121700 Acid
dyes, whether or not premetalized, and preparations based thereon, acid
black
31, etc
Trading 3204122000 Acid
dyes, whether or not premetalized, and preparations based thereon, acid
black
61, etc
Trading 3204125000 Acid
dyes,whether or not premetallized, and preparations based thereon
Trading 3204130000 Basic
dyes and preparations based thereon
Trading 3204131000 Basic
dyes and preparations based thereon, basic black 7,etc
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Acid dyes
Trader Reactive
dyes
Trader Direct
dyes
Trader Textile
dyestuff
INTERNATIONAL TRADE : ACTIVITY & MARKETS
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%)