MIRA
INFORM REPORT
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Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
FANEMILY INC |
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Registered Office : |
2Fl, 305 Pa Teh Rd Section 4 Sungshan Dist Taipei City 105 |
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Country : |
Taiwan |
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Date of Incorporation : |
04.02.2004 |
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Com. Reg. No.: |
80668770 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of raw materials use in the production process. Manufacturing of various types of PE shopping bags and related
products. Sales and Distribution of products to both domestic and international
markets. |
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 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
FANEMILY
INC
26-10 NEI TING LI HSIA NEI LI CHUNGLI CITY
TAOYUAN HSIEN 320, TAIWAN
TEL: 886-3-4555685 FAX: 886- 3-4556155
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 4, 2004
REGISTRATION NO. :
80668770
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. YI-WEN WU (CHAIRMAN)
STAFF STRENGTH :
7
CAPITAL :
US$ 93,168
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 20,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.49831 = 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: 2Fl, 305 Pa Teh Rd Section 4 Sungshan Dist
Taipei City 105
*Office & Facilities*
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Size :
1,000 square meters (Approx)
Location :
Taoyuan Hsien
Type of building : Industrial
building
Property status : Rented
Comments : Serves as
office and factory
*Corporate & Organization Structure*
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A small-sized company operated and managed by the owner.
www.fanemily.com
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: service@fanemily.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: N/A
Shareholders Country Number Amount %
Ms. Yi-wen Wu Taiwan
n/a n/a 99.00
Undisclosed Shareholders n/a n/a n/a 1.00
Management: Ms. Yi-wen Wu, General Manager
Name Nationality
Job Description
Ms. Yi-wen Wu Taiwanese
General Manager
*COMPANY DIRECTORS*
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1
Name :
Ms. Yi-wen Wu
Nationality :
Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Importing of raw materials
use in the production process.
2. Manufacturing of various
types of PE shopping bags and related products.
3. Sales and distribution of
products to both domestic and international markets.
Products: HDPE shopping bags
PE films,
plastic
PE shopping
bags
PE t-shirt
bags
Plastic raw
materials
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
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)
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 :
- BENBO BEAR ENTERPRISE CO LTD
- C & J FOREST INDUSTRIAL CO LTD
- CHAI MART ENTERPRISE CO LTD
- CHI LIN TECHNOLOGY CO LTD
- DANNY & HUDSON INC
*Local Distribution Network*
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Approximately 10% of the annual turnover is attributed to local sales
direct to local traders which export under their own corporate entities.
*Export Markets*
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Approximately 90% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES :
52
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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.
Although financial summaries were obtained for reference.
*BANK DETAILS*
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Bank Name : BANK OF TAIWAN
Branch : Chungcheng
Dist, Taipei City
Branch Address : 120 Chung Ching South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : BKTWTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Net Income
2007 $1,478,575.74 $93,542.55
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $230,000.00 $890,000.00 $1,120,000.00
2006 $260,000.00 $1,150,000.00 $1,410,000.00
2007 $540,000.00 $1,300,000.00 $1,840,000.00
SC is considered small-sized in its line with a development history of 4
years. Taking into consideration of SC’s general performance, a credit line up
to USD 20,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2673 Plastics,
foil, and coated paper bags
Exporting 3081 Plastics
film, strips, and sheets, unsupported
Exporting 3089 Plastics
products,
Importing 2821 Plastics
materials and resins
Importing 5162 Plastics
Mat'ls/Basic Forms
Manufacturing 2673 Plastics,
foil, and coated paper bags
Manufacturing 3081 Plastics
film, strips, and sheets, unsupported
Manufacturing 3089 Plastics
products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3921 Plates,
sheets, film, foil & strip, plastics
Exporting 3923 Containers
(boxes, bags etc), closurers etc, plastics
Exporting 3923290000 Sacks & bags(including cones) of other plastics
Exporting 3923900000 Articles for the conveyance or packing of goods,etc,of plastic,
Exporting 3926909050 Other articles of plastic,
Exporting 4202929040 Other bags, outer surface plastic sheeting,
Importing 3901100010 Polyethylene having a specific gravity of less than 0.94,linear
low density polyethylene
Importing 3926 Articles
of plastics (inc polymers & resins)
Manufacturing 3921 Plates,
sheets, film, foil & strip, plastics
Manufacturing 3923 Containers
(boxes, bags etc), closurers etc, plastics
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Shopping
bags
Exporter Printed
bags
Exporter Polyethylene
printing bags
Importer Plastic raw
materials
Manufacturer PE films,
plastic
Manufacturer PE shopping
bags
Manufacturer Shopping bags
Manufacturer PE t-shirt
bags
Manufacturer T-shirt bags
Manufacturer HDPE shopping
bags
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Middle-East Importing
North America Exporting,Importing
USA Exporting,Importing
United Arab Emirates Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.22 |
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UK Pound |
1 |
Rs.73.03 |
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Euro |
1 |
Rs.63.14 |
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%)