MIRA
INFORM REPORT
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Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAN CHI TEA CORP |
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Registered Office : |
33 Hsi Tung Rd
Sanhsia Chen Taipei Hsien 237 |
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Country : |
China |
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Date of Incorporation : |
09.08.1996 |
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Com. Reg. No.: |
97185968 |
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Legal Form : |
Private Company
With Limited Liability |
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Line of Business : |
Import and local
purchase of a wide range of tea and other related products. |
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 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & address
SAN CHI TEA CORP
33 HSI TUNG RD
SANHSIA CHEN TAIPEI HSIEN 237, TAIWAN.
TEL: [+886] 2-86762456 FAX: [+886] 2-86762475
EXECUTIVE SUMMARY
INCORPORATION DATE : AUGUST 9, 1996
REGISTRATION NO. : 97185968
LEGAL FORM : PRIVATE COMPANY
WITH LIMITED LIABILITY
CHIEF EXECUTIVE : MR. WEN-CHIN CHOU
(CHAIRMAN)
STAFF STRENGTH : 4
CAPITAL : US$ 465,839
BUSINESS LINE : IMPORTER
TURNOVER : US$ 814,725.41
(AS OF 2007)
EQUITIES : N/A (AS OF
2007)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 10,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : TWD 32.532 = US$1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD – Hong Kong Dollars
*Factories, Size
& Locations*
======================
The company is a
trading house focused on importation of overseas products, and maintains no
manufacturing facilities.
*Office &
Facilities*
================
Size : 190 sq. meters (Approx.)
Location : Outer suburb of Taipei city
Property status : Rented
Type of
building : Residential District
Comments : Premises is shared with an
affiliated company, GOOD YOUNG CO LTD
Previous contact
details
--------------------------------
Tel no : 2-26712456
Fax no : 2-26740475
*Corporate &
Organization Structure*
============================
A small -sized
company operated and managed by the owner and an experienced team of
professionals.
SC is not known to host website of its own at present.
Email : good-young@umail.hinet.net
For the past 12
years there is no record of litigation.
Total number of
shareholders: N/A
Total number of
shares: N/A
No. Shareholders Country Shares Number Amount %
1 Mr. Wen-chin
Chou Taiwan
n/a n/a 99.00
2 Undisclosed
Shareholders n/a n/a n/a 1.00
Management : Mr.
Wen-chin Chou, General Manager
Name Nationality Job Description
Mr. Wen-chin Chou Taiwanese General Manager
*Main Products &
Services*
=====================
Specializes in the
following areas of work :
1. Import and local
purchase of a wide range of tea and other related products.
2. Sales and
distribution of purchased products to domestic market.
Products : Black
tea
Green tea
Tea
Tea leaf
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Purchases
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Local : 30-90 days credit
Import : Letter of
Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
==========
The following
locally based companies supply similar range of products:
- COMESTIBLES MASTER
CO LTD
- EASY LIFE STATION
CO LTD
- FORMOSA GLOBAL
W&P LTD
- I-MEI FOODS CO LTD
- TAIWAN TEA
CORP
*Local Distribution
Network*
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100% of the annual
turnover is attributed to local sales mostly to GOOD YOUNG CO LTD
*(Subsidiaries,
Joint-ventures & Affiliates)
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Company Name : GOOD
YOUNG CO LTD
Address : 33 Hsi
Tung Rd Sanhsia Chen 237 Taipei Hsien Taiwan
Country : Taiwan
Relationship :
Affiliate
Legal Form : Private
company with limited liability
Company Type :
Manufacturer
Industry : Beverages
*DOMESTIC CUSTOMERS*
=======================
GOOD YOUNG CO LTD
PAYMENT RATING : 3
OBTAINED SCORES : 51
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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.
*BANK DETAILS*
===============
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
*Financials*
=========
As a private limited
company with a paid-up capital of less than USD6 million, there is no legal
requirement according to local corporate law for public disclosure of detailed
financial.
Although financial
summaries were obtained for reference.
*Financial Summary
(Currency: U.S. $'s) *
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Year Sales Assets Net Income
2007 $814,725.41 $105,612.55
$57,332.53
*Int´l Trade
Activity (Currency: U.S. $'s) *
===============================
Year Imports Exports Total
2005 $230,000.00 n/a $230,000.00
2006 $180,000.00 n/a $180,000.00
2007 $690,000.00 n/a $690,000.00
SC is considered
small-sized in its line with a development history of 12 years. A credit line
up to USD 10,000 would appear to be within SC’s capacities.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2000
Food and Kindred Products
Importing 2034
Food products, dried and
dehydrated
Importing 2082
Malt beverages
Importing 2833
Medicinal and botanicals
Trading 2000
Food and Kindred Products
Trading 2034
Food products, dried and
dehydrated
Trading 2082
Malt beverages
Trading 2833
Medicinal and botanicals
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 0900
Coffee, tea, mate &
spices
Importing 0902
Tea
Importing 0902200000
Green tea (not fermented)
Importing 0902400000
Black tea (fermented) and other
partly fermented tea
Importing 2101202000
Tea and mate extracts, essences and
concentrates
Importing 2206007000
Fermented beverages
Trading 0900
Coffee, tea, mate &
spices
Trading 0902
Tea
Trading 0902200000
Green tea (not fermented)
Trading 0902400000
Black tea (fermented) and other
partly fermented tea
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Tea leaf
Trader Black tea
Trader Green tea
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Importing
Middle-East Importing
Armenia Importing
India Importing
Sri Lanka Importing
Vietnam Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.28 |
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UK Pound |
1 |
Rs.73.43 |
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Euro |
1 |
Rs.68.22 |
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%)