MIRA
INFORM REPORT
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Report Date : |
24.12.2008 |
IDENTIFICATION DETAILS
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Name : |
SHIH WAVE
TRADING CO LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
21.11.1998 |
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Com. Reg. No.: |
16700161 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Importing of various types of Vegetation Dye Powder, Organic Dye
Powder and related Chemical Products for Leathers. Selling of products to Domestic and Foreign 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 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
SHIH WAVE TRADING
CO LTD
TEL: 886- 4-92352699 FAX: 886- 4-92352338
EXECUTIVE SUMMARY
INCORPORATION DATE : 21
NOVEMBER, 1998
REGISTRATION NO. :
16700161
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MS. HUI-SHAN CHENG (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 186,335
BUSINESS LINE :
TRADER
TURNOVER :
USD 235,365.12 (AS OF 2007)
EQUITIES :
N/A (AS OF 2007)
PAYMENT :
FAIR
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.5401 = 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 –
*Office & Facilities*
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Size : 261 sq. meter (Approx)
Location :
Property status : Rented
Type of building : Residential District
Comment : Serves as office and warehouse
Previous address:
*Corporate & Organization Structure*
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A small-sized company operated and managed by the principal owner.
*Factories, Size & Locations*
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The company is a trading house, and maintains no manufacturing
facilities.
SC is not known to host website of its own at present.
Email: shih.wave@msa.hinet.net
For the past two years there is no record of litigation.
*Ownership*
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Chairman : Ms. Hui-shan Cheng
Nationality :
Taiwanese
*Shareholders*
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Total number of shareholders : 2
Total number of shares : n/a
Shareholders Country Number Amount %
Ms. Hui-shan Cheng
Undisclosed Shareholders n/a n/a n/a 1.00
*Company Directors*
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Name : Ms. Hui-shan Cheng
Nationality : Taiwanese
Country of Residence :
Management : Ms. Bao-chen Wang, Manager
Ms. Chen,
Representative
*COMPANY MANAGEMENT*
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Management Listings
Name Nationality
Job Description Dept. / Division
Ms. Bao-chen Wang Taiwanese Manager Sales
Ms. Chen Taiwanese
Representative Sales
Management Details - 1
Name: Ms. Bao-chen Wang Sex : F
Management Details - 2
Name : Ms. Chen Sex : F
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing of various types of vegetation dye powder, organic dye
powder and related chemical products for leathers.
2. Selling of products to domestic and foreign markets.
Products: Dye powder
Vegetation dye
powder
*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)
*Competitors*
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The following locally based companies supply similar range of products :
- BE FUWELL ENTERPRISE CO LTD
- GENIUS-FIVE ENTERPRISE CO LTD
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- C & W DYES & CHEMICAL CO LTD
- MIG HONG ENTERPRISE CO LTD
*Local Distribution Network*
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An estimated 70% of the annual turnover is attributed to local
sales.
*Domestic Customers*
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Most of domestic sales are achieved through direct sales to local
manufacturers.
*Export Markets*
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An estimated 30% of the annual turnover is attributed to export.
*Int´l Trade Activity (Currency:
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Year Imports Exports Total
2005 $86,954.00 $23,214.98 $110,168.98
2006 $45,223.91 $0.00 $45,223.91
2007 $165,873.99 $65,417.98 $231,291.97
*IMPORTER AGENCY LISTING*
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Supplier :
STEINER SAS
Country of Origin :
Product Description : Dye
powder
Brand :
Steiner
Year :
2000
Supplier :
STEINER SAS
Country of Origin :
Product Description : Dye
powder
Brand :
Steiner
Year :
2000
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.
*BANK DETAILS*
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Bank Name : BANK OF
Branch : Chungcheng
Dist,
Branch Address :
SWIFT Code : BKTWTWTP
Bank Name : TAIWAN
COOPERATIVE BANK
Branch : Chungcheng
Dist,
Branch Address :
SWIFT Code TACBTWTP
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.
Financial Summary (Currency:
Year Sales Assets Net Income
2007 $235,365.12 $105,612.55 $19,312.01
Over the past 10 years, SC has made a stable growth with acceptable
profit. The given credit amount would appear to be beyond SC’s capacities,
while a credit line up to USD 10,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2800 Chemicals
and Allied Products
Trading 2899 Chemical
preparations
Trading 5169 Chemicals/Allied
Prdts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3204 Syn
org coloring matter & prep; syn org brit agent
Trading 3204130000 Basic
dyes and preparations based thereon
Trading 3204140000 Direct
dyes & preparations based thereon
Trading 3800 Miscellaneous
chemical products
Trading 3823905050 Chemical
products and preparations of the chemical or allied industries
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Country /
Region
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.99 |
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1 |
Rs.72.49 |
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Euro |
1 |
Rs.68.44 |
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%)