MIRA
INFORM REPORT
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Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
FUH SHYAN CO LTD |
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Registered Office : |
27 Cheng Kung 1st St Minhsiung Hsiang Chiayi Hsien 621 |
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Country : |
Taiwan |
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Date of Incorporation : |
14.05.1991 |
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Com. Reg. No.: |
86187068 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Research and development of technologies related to office chair
components. Manufacturing of various types of armrest, casters, chair backs and
related products. Selling to both domestic and international market. |
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 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
FUH
SHYAN CO LTD
27 CHENG KUNG 1ST ST MINHSIUNG
HSIANG CHIAYI HSIEN 621, TAIWAN
TEL: 886-5-2212878 FAX: 886-5-2212832
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
14, 1991
REGISTRATION NO. :
86187068
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. HSUAN-CHIN TSAI (CHAIRMAN)
STAFF STRENGTH :
30
CAPITAL :
US$ 559,006
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
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 :
TWD33.54578 = 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
*Licenses & Permits*
================
License number : 9965570000
Date issued : 2 March,
1993
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
================
Size : 550
square meters (Approx.)
Location : Chiayi Hsien
Type of building :
Industrial building
Property status : Rented
Comments : Serves as
office and factory
Other contact details
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E-mail add : fushyan@cm1.hinet.net
Tel. no : 5-2206539
Previous contact details
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Address : 86 Pao Chung 3rd St,
Chiayi City 600
E-mail add : fushyan@ksts.seed.net.tw
*Corporate & Organization Structure*
==============================
A small-medium sized company operated and managed by an experienced team
of professionals.
www.fuhshyan.com
The design is professional and the content is well organized. At present it is
in English version.
E-mail: sales@fuhshyan.com
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 4
Total number of shares: 16,150
Shareholders Country Number Amount %
Mr. Hsuan-chin Tsai Taiwan 7,000.00 n/a 43.34
Ms. Wan-chen Lee Taiwan 5,500.00 n/a 34.06
Mr. Chin Tsai Lee Taiwan 3,300.00 n/a 20.43
Mr. Ching-min Tsai Taiwan 350.00
n/a 2.17
Management: Ms. Christy Ying-mei
Chu, Manager
Ms. Monica Yu, Representative
Ms. Smile Hsu, Representative
Name Nationality
Job Description Dept. / Division
Ms. Christy Ying-mei Chu Taiwanese
Manager Export
Ms. Monica Yu Taiwanese
Representative Export
Ms. Smile Hsu Taiwanese
Representative Export
Ms. Tina Hui-ting Yang Taiwanese
Assistant Sales
Ms. Vicky Liu Taiwanese
Assistant Sales
Ms. Brenda Lee Taiwanese
Assist. General Manager -
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Hsuan-chin Tsai
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Research and development of technologies related to office chair
components.
2. Manufacturing of various types of armrest, casters, chair backs and
related products.
3. Selling to both domestic and international market.
Products: Armrest
Casters
Castors
Chair arm
Chair backs
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30 - 90 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Exhibition Participation*
======================
Participated in the following local exhibitions:
(1)
Exhibition fair : Taipei
International Furniture Show
Dates attended : 8-12 March, 2000
Location : Taipei World
Trade Center - Exhibition Hall
(2)
Exhibition fair : Taipei
International Furniture Show 2002
Dates attended : 7-10 March, 2002
Location : Taipei
World Trade Center - Exhibition Hall
*Competitors*
===========
The following locally based firms supply similar range of products :
- HUASHEN RUBBER CO LTD
- GA KING LOGISTICS MATERIALS HANDLING CO LTD
- M & J ENTERPRISE CO LTD
- SUNNY CASTORS CO LTD
- CHIENG YENG ENTERPRISE CO LTD
- FU HSIEN PLASTIC CO LTD
- LIM CHEMICAL CO LTD
*Local Distribution Network*
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Approximately 10% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 90% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : ANNDA CO
LTD
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Furniture
Company Name : U-CHIN
FURNITURE CO LTD
Address : 27
Chengkung 1st Rd Minhsiung Hsiang 621 Chiayi Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Furniture
Company Name :
ZHONGSHAN U-CHIN FURNITURE CO LTD
Address :
HengXin Industrial Estate North of MingZhong Rd Zhongshan Guangdong China
Country :
China
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Furniture
PAYMENT RATING : 3 OBTAINED SCORES :
60
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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 : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Minhsiung Hsiang,
Branch Address : 123 Jhongsiao E Rd Section 2 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : ICBCTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2007 $5,552,202.78 $452,625.23 $292,697.65
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2005 $320,000.00 $2,300,000.00 $2,620,000.00
2006 $280,000.00 $1,860,000.00 $2,140,000.00
2007 $350,000.00 $3,700,000.00 $4,050,000.00
SC is considered small-sized in its line with a development history of
17 years. Taking into consideration of SC’s general performance, a credit line
up to USD 50,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 2500 Furniture
and Fixtures
Manufacturing 2522 Office
furniture, except wood
Manufacturing 5021 Furniture
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 9401905000 Seat parts
Importing 3908100000 Polyamide-6,-11,-12,-6,6,-6,9,-6,10 or -6,12
Importing 9401906000 Parts of seats except of a kind used for motor vehicles
Manufacturing 9401693000 Chairs,
except upholstered with wooden frames
Manufacturing 9403 Furniture
and parts thereof
Manufacturing 9403708000 Furniture
of plastics
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Casters
Manufacturer Furniture
casters
Manufacturer Furniture,
plastic
Manufacturer Office chairs
Manufacturer Office chair
components
Manufacturer Armrest
Manufacturer Castors
Manufacturer Chair backs
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Africa Exporting
Asia / Pacific Exporting,Importing
Europe Exporting
Middle-East Exporting
North America Exporting
Pacific Exporting
South America Exporting
Argentina Exporting
Australia Exporting
Benin Exporting
Canada Exporting
China Exporting,Importing
Colombia Exporting
Ecuador Exporting
Hong Kong Exporting
India Exporting
Indonesia Exporting
Iran Exporting
Malaysia Exporting
Mexico Exporting
New Zealand Exporting
Nigeria Exporting
Pakistan Exporting
Peru Exporting
Philippines Exporting
Russia Exporting
South Africa Exporting
Spain Exporting
Thailand Exporting
Turkey Exporting
USA Exporting
Ukraine Exporting
United Kingdom Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.69 |
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UK Pound |
1 |
Rs.72.96 |
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Euro |
1 |
Rs.63.46 |
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%)