MIRA INFORM REPORT

 

 

Report Date :

25.04.2008

 

 

IDENTIFICATION DETAILS

 

Name :

FORIA INTERNATIONAL INC

 

 

Registered Office :

18689 Arenth Ave City Industry, CA 91748-1302

 

 

Country :

United States

 

 

Date of Incorporation :

12.16.1982

 

 

Com. Reg. No.:

858645348

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Clothing and Furnishing

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

 

Company Information

 

 

FORIA INTERNATIONAL INC
18689 ARENTH AVE
CITY INDUSTRY, CA 91748-1302
(626) 912-6100

Business Identification Number:

858645348

File Established:

10/1986

Date of Incorporation:

12/16/1982

SIC code: 

MENS CLOTHING & FURNISHNG WHLSNG - 5136

 

Executive Summary

 

 

  Intelliscore for FORIA INTERNATIONAL INC

 

 

80.20

 

 

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

 

100

 

High risk

Low risk


LOW RISK
89% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF ACTIVE ACCOUNTS

NUMBER OF CURRENT ACCOUNTS

NUMBER OF DEROGATORY PUBLIC RECORD ACCOUNTS

NUMBER OF RECENTLY ACTIVE ACCOUNTS



  Current DBT range compared to all industries*

0 DBT
($9,900 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 7 DBT

 

 

 

 

 

 

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings:

0

Total collections: details (PLACED 12/04)

1

Sum of legal filings:

$0

UCC filings: details (FILED 09/05)

1

Cautionary UCC filings present?

Yes**



Trade Information

Monthly average DBT:

0

Highest DBT previous 6 months:

0

Highest DBT previous 5 quarters:

0

Total continuous trades:

9

Current continuous trade balance:

$9,900

Trade balance of all trades (14):

$11,300

Average balance previous 5 quarters:

$10,740

Highest credit amount extended: details

$22,100

6 month balance range:

$4,700 - $12,400

* Days Beyond Terms (DBT) is a dollar weighted calculation of the average number of days that payment was made beyond the invoice due date based on trades on file that have been updated in the previous 3 months.

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivables, Contract Rights, Hereafter Acquired Property, Inventory, Leases, Notes Receivable or Proceeds.

  7 month DBT trends

 

90+

60

30

 


0

 


0

 


0

 


0

 


0

 


0

 


0

 

0

Oct07

Nov07

Dec07

Jan08

Feb08

Mar08

Current

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


0

 


0

 


0

 


0

 


0

 

0

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 

1Q08

 

 

Performance Analysis

 

Predicted DBT for 06/18/2008: 1 DBT

Payment Trend Indication:
Are Stable

Industry payment comparison:
Has paid sooner than 50% of similar firms

Most Frequent Industry Purchasing Terms:
NET 30, 0000000, and CREDIT

 

Back to top

 

 

Legal Filings and Collections

 

 

  Collections

Date
Placed

Status

Original
Balance

Outstanding
Balance

Date
Closed

Agency

Agency
Phone

12/2004

Closed, Uncollected

$427,231

 

$427,231

 

08/2005

RECEIVABLE MANAGEMENT SERVICES

(000) 000-0000

 

Trade Payment Information

 

 

Trade Payment Experiences
(Trade Lines With an (*) after date are newly reported)

Account Status
Days Beyond Terms

 

Business
Category

Date
Reported

Last
Sale

 

Payment
Terms

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

 ADVERTISNG

04/2008

 

NET 30

 

 

$0

 

 

 

 

 

CUST 5 YR

+AIR TRANS

03/2008

03/2008

 

 

$22,100

$8,800

100%

 

 

 

 

CUST 15 YR

+AIR TRANS

03/2008

 

NET 30

 

$500

$100

100%

 

 

 

 

CUST 16 YR

 COMPUTERS

04/2008

01/2002

CREDIT

 

 

$0

 

 

 

 

 

 

+FINCL SVCS

04/2008

03/2008

CONTRCT

 

$5,300

$800

100%

 

 

 

 

 

+OFFC SUPPL

04/2008

02/2008

CREDIT

 

$1,100

$100

100%

 

 

 

 

 

+OFFC SUPPL

04/2008

03/2008

CREDIT

 

$2,000

$100

100%

 

 

 

 

ACCTCLOSED

 PACKAGING

04/2008

11/2005

NET 30

 

 

$0

 

 

 

 

 

CUST 3 YR

 WAREHOUSE

02/2008

 

CREDIT

 

 

$0

 

 

 

 

 

ACCTCLOSED

 

Trade Payment Totals

 

 

Trade Payment Experiences

Account Status
Days Beyond Terms

 

Type

Lines
Reported

 

 

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

Continuously Reported

9

 

 

$31,000

$9,900

100%

 

 

 

 

DBT: 0

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

9

 

 

$31,000

$9,900

100%

 

 

 

 

DBT: 0

 

Additional Payment Experiences

 

 

Trade Payment Experiences
(Trade Lines With an (*) after date are newly reported)

Account Status
Days Beyond Terms

 

Business
Category

Date
Reported

Last
Sale

 

Payment
Terms

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

 BUS SERVCS

10/2007

10/2007

NET 30

 

 

$0

 

 

 

 

 

 

 COMPUTERS

07/2007

 

 

 

$3,300

$0

 

 

 

 

 

CUST 2 YR

 LEASING

06/2007

 

CONTRCT

 

$23,400

$0

 

 

 

 

 

 

+OFFC EQUIP

11/2005

11/2005

ROI

 

$1,400

$1,400

100%

 

 

 

 

 

 TELECOM

06/2005

 

NET 30

 

 

$0

 

 

 

 

 

 

 

Monthly Payment Trends

 

 

Payment Trends Analysis
MENS CLOTHING & FURNISHNG WHLSNG INDUSTRY SIC: 5136

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

N/A

0

$9,900

 

100%

 

 

 

 

MAR08

82%

7

0

$11,200

 

100%

 

 

 

 

FEB08

83%

6

0

$8,600

 

100%

 

 

 

 

JAN08

84%

6

0

$7,900

 

100%

 

 

 

 

DEC07

82%

6

0

$5,000

 

100%

 

 

 

 

NOV07

81%

6

0

$4,800

 

100%

 

 

 

 

OCT07

85%

5

0

$12,400

 

100%

 

 

 

 

Quarterly Payment Trends

 

 

Payment History - Quarterly Averages

Account Status
Days Beyond Terms

Quarter

Months

DBT

Balance

Cur

1-30

31-60

61-90

91+

Q1 - 08

JAN-MAR

0

$9,200

 

100%

 

 

 

 

Q4 - 07

OCT-DEC

0

$7,400

 

100%

 

 

 

 

Q3 - 07

JUL-SEP

0

$20,300

 

100%

 

 

 

 

Q2 - 07

APR-JUN

0

$7,400

 

100%

 

 

 

 

Q1 - 07

JAN-MAR

0

$9,400

 

100%

 

 

 

 

 

UCC Profile

 

The UCC Filings are summarized and listed below.

UCC Summary

Filings

Date Range

Year

Cautionary
UCCs**

Total
Filed

Released/
Term'd

Cont

Amended/
Assigned

JAN - PRESENT

 

2008

 

 

 

 

 

JUL - DEC

 

2007

 

 

 

 

 

JAN - JUN

 

2007

 

 

 

 

 

JUL - DEC

 

2006

 

 

 

 

 

JAN - JUN

 

2006

 

 

 

 

 

PRIOR TO JAN

 

2006

1

1

 

3

 

Total

 

1

1

 

3

 

 

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivables, Contract Rights, Hereafter Acquired Property, Inventory, Leases, Notes Receivable or Proceeds.

 

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  UCC Filings

 

UCC FILED Date: 09/19/2005

Filing Number: 057042025803

Jurisdiction: SEC OF STATE CALIFOR

Secured Party: CANON FINANCIAL SERVICES, INC. NJ MT. LAUREL 08054 158 GAITH

Collateral: ACCTS REC, EQUIP, UNDEFINED


UCC CONTINUED Date: 10/08/1998

Filing Number: 98286C0056

Original Filing Date: 03/02/1994

Original Filing Number: 94037043

Original Filing State: CA

Jurisdiction: SEC OF STATE CALIFOR

Secured Party: THE CIT GROUP/COMMERCIAL SERVICES, INC. CA LOS ANGELES 90071

Collateral:  


UCC CONTINUED Date: 10/08/1998

Filing Number: 1998286C0056

Original Filing Date: 01/01/2001

Original Filing Number: 1994037043

Original Filing State: CA

Jurisdiction: SEC OF STATE CALIFOR

Secured Party: THE CIT GROUP/COMMERCIAL SERVICES, INC. CA LOS ANGELES 90071

Collateral:  


UCC CONTINUED Date: 10/14/1998

Filing Number: 1998294C0368

Original Filing Date: 01/01/2001

Original Filing Number: 1994049478

Original Filing State: CA

Jurisdiction: SEC OF STATE CALIFOR

Secured Party: CATHAY BK A CA BANKING CORP CA LOS ANGELES 777 N BROAD

Collateral:  

 

Commercial Finance Relationships

 

 

  Leasing Relationships

 

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 09/2005

Original Lease Amount: $108,900

Lease Product Type: EQUIPMENT

Lease Term: 60 Months

Current Due Date: 04/10/2008

Current Scheduled Amount Due: $1,815

Amount of Overdue Payments: $0

Remaining Balance: $54,450

Current Payments: 29

Late Payments: 1

 

Company Background Information

 

 

  Corporate Registration

 

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF CALIFORNIA

State of Origin: CA

Date of Incorporation: 12/16/1982

Current Status: Active


Business Type: Institutions - Profit

Charter Number: 01164763


Agent: MARK FANG

Agent Address: 215 E DAILY DR STE 10 CAMARILLO, CA

 

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  Additional Company Background Information

 

 

Key Personnel

Principal(s): 

TEDDY MANG, CHIEF EXEC

 

RAY TUNG, MIS MANAGE

 

JOSEPH HWA


Operating Information

Business Type: Institutions


Primary SIC Code: MENS CLOTHING & FURNISHNG WHLSNG - 5136


Number of Employees: 78

Sales: $10,000,000

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions