MIRA
INFORM REPORT
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Report Date : |
11.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
WAND YIELD CO LTD |
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Registered Office : |
4FL, 199 Hsin Hai Rd Section 2 Ta-An Dist Taipei City 106 |
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Country : |
Taiwan |
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Date of Incorporation : |
03.03.1999 |
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Com. Reg. No.: |
16789860 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Domestic purchase of a wide range of plastic raw materials. Outsourcing to local factories with value-added processing of plastic
bags and other related products. Sales and distribution of products to overseas 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 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
WAND
YIELD CO LTD
4FL, 199 HSIN HAI RD SECTION 2
TA-AN DIST TAIPEI CITY 106, TAIWAN
TEL: 886-2-27320198 FAX: 886- 2-27320188
EXECUTIVE SUMMARY
INCORPORATION DATE : MARCH 3, 1999
REGISTRATION NO. :
16789860
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. HUNG-LING CHEN (CHAIRMAN)
STAFF STRENGTH :
3
CAPITAL :
US$ 155,280
BUSINESS LINE : TRADER
TURNOVER : N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
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 33.37064 = 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
*Office & Facilities*
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Size : 108
sq meters (Approx)
Location :
Central Business District (CBD)
Property status : Rented
(Although rented by the company, the premises is owned by the Chairman, Ms.
Hung-ling Chen.)
Type of building : Commercial building
Previous address: 1Fl, 320 Chien Kuo South Rd Section 2 Ta-an Dist
Taipei City 106
*Factories, Size & Locations*
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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 specialized company operated and managed by the owner.
SC is not known to host website of its own at present.
E-mail: gendawu@ms27.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 4
Total number of shares: n/a
Shareholders Country Number Amount %
Ms. Ying-hsueh Chen Taiwan n/a n/a n/a
Mr. Jen Chen Taiwan 200,000.00 n/a
n/a
Ms. Hsiang-ju Chen Taiwan 150,000.00 n/a n/a
Ms. Hung-ling Chen Taiwan 150,000.00 n/a n/a
Management: Ms. Hung-ling Chen,
Manager
Mr. Jen Chen, General Manager
Name
Nationality Job Description Dept. / Division
1 Ms. Hung-ling Chen Taiwanese Manager Sales
2 Mr. Jen Chen
Taiwanese General Manager -
*COMPANY DIRECTORS*
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1
Name : Ms. Hung-ling Chen
Nationality : Taiwanese
*Main Products & Services*
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Specializes in the following areas of work :
1. Domestic purchase of a wide range of plastic raw materials.
2. Outsourcing to local factories with value-added processing of plastic
bags and other related products.
3. Sales and distribution of products to overseas market.
Products: Plastic bags
Plastic film
Plastic
products
Plastic raw
materials
*Payment Terms*
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Sales
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Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic Transfer (T/T)
Purchase
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Local : 30 - 90 days credit
*Competitors*
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The following locally based companies supply similar range of products:
- ALLEN PLASTIC INDUSTRIES CO LTD
- IPSIDO CORP
- PROSPARK ENTERPRISE CO LTD
- YEZU ENTERPRISE CO LTD
- PROJACK INDUSTRIAL CO LTD
*Local Distribution Network*
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There is no record of local sales since the prime focus of the firm's
activity is concentrated on exports only.
*Export Markets*
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100% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
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.
Although financial summaries were obtained for reference.
*BANK DETAILS*
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Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist,Taichung City
Branch Address : 38 Tzu Yu Rd Section 2 Central Dist Taichung City 400
(Head Office)
SWIFT Code : CCBCTWTP
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist,Taipei City
Branch Address : 77 Kuan Chien Rd Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code : TACBTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $280,627.64 $93,542.55 $8,750.75
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 n/a $250,000.00
$250,000.00
2006 n/a $220,000.00
$220,000.00
2007 n/a $190,000.00
$190,000.00
SC is considered small-sized in its line with a development history of 9
years. 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
Exporting 3081 Plastics
film, strips, and sheets, unsupported
Exporting 5162 Plastics
Mat'ls/Basic Forms
Trading 3089 Plastics
products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3926 Articles
of plastics (inc polymers & resins)
Trading 3900 Plastics
& articles thereof
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting
China Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.94 |
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UK Pound |
1 |
Rs.72.07 |
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Euro |
1 |
Rs.64.70 |
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%)