MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOP COSMOS INT'L TRADE CO LTD |
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Registered Office : |
20-168, Lane 211, Tai Ming Rd Wujih Hsiang Taichung Hsien 414 |
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Country : |
Taiwan |
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Date of Incorporation : |
29.07.1998 |
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Com. Reg. No.: |
16559950 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importation of Marble and Granite. 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 : |
USD 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
TOP
COSMOS INT'L TRADE CO LTD
20-168, LANE 211, TAI MING RD
WUJIH HSIANG TAICHUNG HSIEN 414, TAIWAN
TEL: 886-4-23356262 FAX: 886-4-23355252
EXECUTIVE SUMMARY
INCORPORATION DATE : JULY 29, 1998
REGISTRATION NO. :
16559950
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHIH-HSUN CHOU (CHAIRMAN)
STAFF STRENGTH :
11
CAPITAL :
US$ 985,222
BUSINESS LINE : IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 50,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 31.31791 = 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
Registered Legal Address: 11Fl-3, 211 Chung Ming Rd West Dist Taichung
City 403
*Capital Details*
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Initial registered capital : NTD
15,000,000
Capital increase :
NTD 30,000,000
Date of increase :
N/A
*Office & Facilities*
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Size : 250 sq. meter (approx)
Location : Taichung Hsien
Property status : Rented
Type of building : Commercial building
Previous Contact Details
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(1)
Address : 19Fl-3, 606 Kung Yi Rd Section 2, 408 Taichung City
(2)
Address : 12Fl-3, 77 Shih Cheng Pei 1st Rd Hsitun Dist Taichung
City 407
Tel no. : 4-22510421
Fax no. : 4-22519100
*Factories, Size & Locations*
======================
The company is a trading house focused on importation of overseas
products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
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A small-sized company operated and managed by the owner.
SC is not known to host website of its own at present.
E-mail: top.cosmos@msa.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 1
Total number of shares: N/A
Shareholders Country Number Amount %
Mr. Chih-hsun Chou Taiwan n/a n/a 100.00
Management: Mr. Chih-hsun Chou, General Manager
Name Nationality
Job Description
Mr. Chih-hsun Chou Taiwanese General Manager
*COMPANY DIRECTORS*
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1
Name : Mr. Chih-hsun Chou
Nationality :
Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in two (2) main areas of work :
1. Importation of marble and granite.
2. Domestic sales of its imported products.
Products: Construction materials
Granite
Granite, crude
Marbles
Stone
materials
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Purchases
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Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
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 :
- TIPINGSTONE CO LTD
- IN FONG ENTERPRISE CORP
- AYE-STAR CO LTD
- FAIR WIND INT'L CO LTD
- FORTUNE WINDS CO LTD
*Domestic Customers*
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Direct sale to local construction industry and end-users.
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales to wholesalers
and tile processors.
*International Trade Activity*
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There is no record of exports because the prime focus of the firm's
activity is concentrated on local sales only.
*LOCAL BRANCHES & MANAGEMENT*
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Branch :
TOP COSMOS INT'L TRADE CO LTD - TAIPEI HSIEN
Branch Address : 168
Chung Hua Rd Section 1 Pali Hsiang, Taipei Hsien 249
Branch Tel :
[+886] 2-86304378
Branch Fax :
[+886] 2-86304792
Branch Employees : 3
Branch :
TOP COSMOS INT'L TRADE CO LTD - KAOHSIUNG HSIEN
Branch Address : 1-3
Sung Pu Rd Niaosung Hsiang, Kaohsiung Hsien 833
Branch Tel :
[+886] 7-7318918
Branch Fax :
[+886] 7-7318921
Branch Employees : 3
PAYMENT
RATING : 3 OBTAINED SCORES :
55
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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
MODERATE 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 :
CITIBANK NA
Branch :
Central Dist, Taichung City
Branch Address : 242
Chung Min South Rd
SWIFT Code :
CITITWTX
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2003 $901,095.73 $576,701.27 $14,417.53
2007 $3,756,789.38 N/A $259,505.13
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2001 $700,000.00 $0.00 $700,000.00
2002 $900,000.00 $0.00 $900,000.00
2003 $710,000.00 $0.00 $710,000.00
2005 $2,430,000.00 n/a $2,430,000.00
2006 $3,120,000.00 n/a $3,120,000.00
2007 $2,910,000.00 n/a $2,910,000.00
SC is considered small-sized in its line with a development history of
10 years. The above credit amount appears to be beyond SC’s capacities, while a credit line up to USD 50,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 1423 Crushed/Broken
Granite
Importing 3251 Brick
and structural clay tile
Importing 3253 Ceramic
wall and floor tile
Importing 3281 Cut
stone and stone products
Importing 5032 Brick/Stone/Const
Materials
Importing 5039 Construction
Materials, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2515110000 Marble and travertine, crude or roughly trimmed
Importing 2516110000 Granite, crude or roughly trimmed
Importing 6800 Articles
of stone, plaster, cement, asbestos, mica or similar materials
Importing 6802100000 Tiles cubes a simlr artcls lrgst surf area capl o bng encl i a
sq thesde o whch lss thn 7cm; artfclly clrd grnls chppgs a powder
Importing 6802210000 Marble, travertine and alabaster, simply cut or sawn, with a
flat or even surface
Importing 6802911500 Marble, other than slabs
Importing 6802930090 Granite
Importing 6901 Bricks,
blocks, tiles & other ceramic goods slcs earth
Importing 6902205020 Refractory blocks, tiles and similar refractory ceramic
constructional goods containing over 50 percent of silica or of silica and
alumina mixture
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Granite,
crude
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Importing
Europe Importing
Middle-East Importing
South America Importing
Brazil Importing
China Importing
India Importing
Norway Importing
Sweden Importing
Turkey Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)