MIRA
INFORM REPORT
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Report Date : |
17.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
CINTS RESOURCE CO LTD |
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Registered Office : |
9FL-1, 103 Kuo Sheng 2nd St Hualien City Hualien Hsien 970 |
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Country : |
Taiwan |
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Date of Incorporation : |
10.11.1993 |
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Com. Reg. No.: |
84608873 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
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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 : |
USD 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
CINTS
RESOURCE CO LTD
9FL-1, 103 KUO SHENG 2ND ST HUALIEN CITY
HUALIEN HSIEN 970, TAIWAN
TEL: 886- 3-8324060 FAX: 886-3-8324071
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 10, 1993
REGISTRATION NO. :
84608873
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. PI-HSUN CHEN (CEO)
STAFF STRENGTH :
6
CAPITAL :
US$ 875,622
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 5,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.20779 = 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
*Company Name*
==============
Incorporated as : SUNMIN JEY-JETH INT'L CO LTD
Date of incorporation : 10
November, 1993
Changed name to :
CINTS RESOURCE CO LTD
Year of change : 2004
*Office & Facilities*
===============
Size : 108 sq. meters (Approx)
Location : Hualien Hsien
Property status : Owned by CINTS RESOURCE CO LTD
Type of building : Retail outlet
in a semi-residential building
Comments : Serves as office and warehouse
Other Contact Details
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Tel no. : 3-8331588
E-mail : cints@ns78.hinet.net
Previous Contact Details
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Address : 7-8, Min Chuan Rd 970 Hualien Hsien Taiwan
Tel No : 3-8361872
*Factories, Size &
Locations*
======================
The company is a trading house focused on importation of overseas
products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
===========================
A small sized specialized company operated and managed by the owner.
*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.
E-mail: jeyjeth@ms24.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 5
Total number of shares: 1,473,120
Shareholders Country Number Amount %
-------------------- --------- ----------- ---------- -------
Mr. Pi-hsun Chen Taiwan 538,560.00 n/a 36.56
TAI YA Taiwan
448,800.00 n/a 30.47
CONSTRUCTION CO LTD
Ms. Yuan-ju Chang Taiwan 290,400.00 n/a
19.71
Mr. Chao-sheng Lin Taiwan 142,560.00 n/a
9.68
Mr. Yen-cheng Chiu Taiwan 52,800.00 n/a
3.58
Management: Ms. Chien-fen Ho,
Manager
Mr. Pi-hsun Chen, CEO
Name Nationality Job
Description Dept. / Division
Ms. Chien-fen Ho Taiwanese
Manager Sales
Mr. Pi-hsun Chen Taiwanese
CEO -
*COMPANY DIRECTORS*
======================
1
Name :
Mr. Pi-hsun Chen
Nationality :
Taiwan
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in the following areas of work:
1. In Taiwan, the company just handles international marketing and sales
to international clients of natural marbles and other related construction
materials such as polished marbles and other polished stone.
2. All products are purchased and manufactured in China and then shipped
to Taiwan Duty Free Warehouses,
(Tax-bonded warehouses) from which the goods are then re-shipped to
customers worldwide.
Products: Granite
Marbles
Mining
Natural
marbles
Project
quotation
*Payment Terms*
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Sales
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Local : 30-90 days credit
Cash
Purchases
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Local : 30-90 days credit
*Competitors*
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The following locally based companies supply similar range of products:
- HORNG YUAN GRANITE CO LTD
- INTERNATIONAL HOLY INC
- KOUN-DIAN ENTERPRISE CO LTD
- MEI-TUN ENTERPRISE CO LTD
- CHAU FENG 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.
Although summary financials were obtained for reference for 2006, at the
time of preparing this report 2007 financials had not been submitted to Taiwan
Tax Authorities.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name :
SHENZHEN EXCELONG STONE CO LTD
Address : Rm 15E D
BinFen Holiday Nanguang Rd Nanshan Dist Shenzhen 518054 Guangdong China
Country :
China
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Construction & Construction Materials
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.
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.
Additionally, because the firm is focusing on transshipment orders from
China via Taiwan, the company is essentially just an administrative "shelf
company" used for the firm's business activities in China.
Hence financials for the company do not reflect those business
activities in China.
*BANK DETAILS*
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Bank Name : FIRST
COMMERCIAL BANK CO LTD
Branch :
Chungcheng Dist, Taipei City
Branch Address : 10Fl,
30 Chungking South Rd Section 1
SWIFT Code :
FCBKTWTP
Bank Name : LAND
BANK OF TAIWAN
Branch :
Chungcheng Dist, Taipei City
Branch Address : 46
Kuan Chien Rd
SWIFT Code :
LBOTTWTP
Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2001 $145,000.00 $21,000.00 $166,000.00
2002 $215,000.00 $0.00 $215,000.00
2003 $123,000.00 $25,000.00 $148,000.00
2004 $39,000.00 $41,000.00 $80,000.00
2006 $43,000.00 $0.00 $43,000.00
Financial Summary (Currency:
U.S. $'s)
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Year Sales Assets Net Income
2003 $2,883,506.34 $2,162,629.76 $284,256.06
2006 $121,825.88 $305,320.44 $5,773.88
SC is considered small-sized in its line with a long history. Taking
into consideration of SC’s general performance, a credit line up to USD 5,000
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 1743 Tile,
Marble, Mosaic Work
Service 1200 Coal Mining
Service 7300 Business
Services
Trading 1423 Crushed/Broken Granite
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2516110000 Granite, crude or roughly trimmed
Importing 6801000000 Setts, curbstones and flagstones, of natural stone (except
slate)
Service 9823 Tile,
marble, and mosaic work
Trading 2515 Marble, travertine etc. and
alabaster, crude etc.
Trading 2516 Granite,
porphyry, basalt etc., crude or cut etc.
Trading 6802911500 Marble,
other than slabs
Trading 6802930000 Granite
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Natural
marbles
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from China
Importing from India
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%)