MIRA
INFORM REPORT
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Report Date : |
21.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ESSENCE MASTER CO LTD |
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Registered Office : |
1Fl, 23, Lane 989, Ching Ping Rd Chungho City, Taipei Hsien 235 |
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Country : |
Taiwan |
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Date of Incorporation : |
October 5, 2001 |
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Com. Reg. No.: |
12908921 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing a range of chemical raw materials and fragrances for
in-house OEM production. |
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 5000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & Address
ESSENCE MASTER CO LTD
1FL, 23, LANE 989, CHING PING RD CHUNGHO CITY
TAIPEI HSIEN 235, TAIWAN
TEL: 886-2-82452405
FAX: 886-2-22437836
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 5, 2001
REGISTRATION NO. :
12908921
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. CHIU-YING YANG (CHAIRMAN)
STAFF STRENGTH :
6
CAPITAL :
US$ 119,191
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE :
UP TO USD 5,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 31.72500 = 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
*Previous address*
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Address: 2Fl, 2, Lane 31, Min Hsiang St Chungho City Taipei Hsien
235
*Licenses & Permits*
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License number : 99691349
Date issued : 1 September 2003
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Size : 50 sq meters (Approx)
Location : Taipei Hsien
Property status : Rented
Type of building : Commercial
building
*Corporate & Organization Structure*
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A small sized specialized company operated and managed by the owner.
*Factories, Size & Locations*
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Building size : 289 sq meters (Approx)
Location : Taipei Hsien
Property status : Rented
Facilities : Modern
Type of building : Industrial building
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
Web site: www.scentgarden.com.tw The design is
professional and the content is well organized. At present it is in both
Chinese and English versions.
E-mail: master20051@yahoo.com.tw
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 %
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Ms. Chiu-ying Yang 99.00
Undisclosed Shareholders 1.00
Management: Ms. Chiu-ying Yang, General Manager
Name Nationality
Job Description
Ms. Chiu-ying Yang Taiwanese
General Manager
*Main Products & Services*
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Specializing in the following main areas of work:
1. Importing a range of chemical raw materials and fragrances for
in-house OEM production.
2. Manufacturing a wide range of oil fragrance sachets and pet shampoos.
3. Exporting and domestic sales of its finished products.
Products: Fragrance sachelles
Fragrant oil
Oil fragrance
sachets
Pets shampoos
Shoe fragrance
sachets
*Brand*
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SCENT GARDEN
*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)
Document against Acceptance (D/A)
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:
- AROMATE INDUSTRIES CO LTD
- FIRST & BEST CO LTD
- PRO-SYMNOVA INDUSTRY CO LTD
- SHENG LUNG FA INDUSTRIAL CO LTD
- WARM DECO INT'L INC
*Local Distribution Network*
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An estimated 80% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 20% of the annual turnover is attributed to export.
NOTE:
At the time of performing this report, the 2007 export figures had not
yet been released by the Ministry of Economic Affairs which monitors exports
and imports.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES : 48
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Rating Key |
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 USD6
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 : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,Taipei City
Branch Address : 10Fl, 30 Chungking South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : FCBKTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2006 $299,365.18 $50,634.82 $8,766.63
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2004 $70,000.00 $34,000.00 $104,000.00
2005 $130,000.00 $48,000.00 $178,000.00
2006 $180,000.00 $50,000.00 $230,000.00
Credit Amount: 500,000.00
SC is considered small-sized in its line with a 7 years development
history. The given credit line appears to be beyond SC’s capacities. A credit
line up to USD 5,000 would appear acceptable.
Attached: trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 2800 Chemicals
and Allied Products
Exporting 2899 Chemical
preparations,
Exporting 5169 Chemicals/Allied
Prdts, NEC
Manufacturing 2800 Chemicals
and Allied Products
Manufacturing 2899 Chemical
preparations,
Manufacturing 5169 Chemicals/Allied
Prdts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service
Description
Exporting 3302900010 Perfume oil mixtures and blends, consisting of products ready
for use as finished perfume bases
Exporting 3302902010 Perfume oil mixtures & blends, consisting of products ready
for use as finished perfume bases containing over 10% of alcohol by weight
Exporting 3305100000 Shampoos
Exporting 3800 Miscellaneous
chemical products
Manufacturing 3302900010 Perfume
oil mixtures and blends, consisting of products ready for use as finished
perfume bases
Manufacturing 3302902010 Perfume
oil mixtures & blends, consisting of products ready for use as finished
perfume bases containing over 10% of alcohol by weight
Manufacturing 3305100000 Shampoos
Manufacturing 3800 Miscellaneous
chemical products
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturer Pets shampoos
Manufacturer Fragrant oil
Manufacturer Shoe fragrance
sachets
Manufacturer Fragrance
sachelles
Manufacturer Oil fragrance
sachets
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
Importing from Asia
Importing from China
Importing from Europe
Importing from France
Importing from India
Importing from Singapore
Importing from Spain
Importing from Switzerland
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%)