MIRA
INFORM REPORT
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Report Date : |
20.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
PAODA ENTERPRISE CO LTD |
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Registered Office : |
1FL, 99 Wu Chia 2nd Rd Fengshan City, Kaohsiung Hsien 830 |
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Country : |
Taiwan |
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Date of Incorporation : |
17.03.2003 |
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Com. Reg. No.: |
70420292 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Imports of Uncut Diamonds. |
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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Status : |
Small Company |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
name & address
PAODA
ENTERPRISE CO LTD
1FL, 99 WU CHIA 2ND RD FENGSHAN CITY
KAOHSIUNG HSIEN 830, TAIWAN
TEL: 886-7-7685678 FAX: 886-7-7685679
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 17, 2003
REGISTRATION NO. :
70420292
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. YU-YING LIU (CHAIRMAN)
STAFF STRENGTH :
4
CAPITAL :
US$ 150,875
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 31.67950 = 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 : 680 sq meters (Approx)
Location : Kaohsiung Hsien
Property status : Rented
Type of building : Retail outlet
in a semi-residential building
Comments : Also occupies the 2nd floor of the
building
Premises is shared with an affiliated company
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HONDA FANCY WATCH INT'L CO LTD
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HONG TIAN INT'L BOUTIQUE CO LTD
*Factories, Size & Locations*
=======================
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 company operated and managed by the owner.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 1
Total number of shares: n/a
Shareholders %
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Ms. Yu-ying Liu 100.00
Management: Ms. Yu-ying Liu, General Manager
Name Nationality
Job Description
Ms. Yu-ying Liu Taiwanese
General Manager
*Main Products & Services*
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Specializes in two main areas of work:
1. Imports of uncut diamonds.
2. Domestic sales to local customers and wholesalers.
Products: Diamonds
Raw diamonds
Uncut diamonds
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Purchases
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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 :
- SU-RAJ DIAMONDS (THAI) CO LTD TAIWAN BRANCH
- WORLD SHINER JEWELLERY LTD
- BRIGHT STAR DIAMOND CO LTD
- THAI FINE GEMS & JEWELRY LTD
- CATHAY-OVERSEAS CO LTD
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*International Trade Activity*
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Note: At the time of preparing this report, the Ministry of Economic
Affairs had not yet released trade figures for 2007.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
*LOCAL BRANCHES & MANAGEMENT*
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Branch :
PAODA ENTERPRISE CO LTD - FENGSHAN CITY
Branch Address : 9 Nan
Fu Rd Fengshan City, Kaohsiung Hsien 830
Branch Tel :
[+886] 7-7653368
Branch Employees : 2
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : HONDA FANCY
WATCH INT'L CO LTD
Address :
1Fl, 99 Wu Chia 2nd Rd Fengshan City 830 Kaohsiung Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type : Service
Industry :
Professional Services
Company Name : HONG
TIAN INT'L BOUTIQUE CO LTD
Address :
1Fl, 99 Wu Chia 2nd Rd Fengshan City 830 Kaohsiung Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type : Service
Industry :
Professional Services
PAYMENT RATING : 4 OBTAINED SCORES :
47
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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 :
TAIWAN COOPERATIVE BANK
Branch :
Chungcheng Dist, Taipei City
Branch Address : 77
Kuan Chien Rd
SWIFT Code :
TACBTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Net Income
2006 $190,749.70 $12,182.59
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2006 $160,000.00 n/a
$160,000.00
SC is considered small-sized in its line with a short history..
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3911 Jewelry,
of precious metal
Importing 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 7102 Diamonds,
worked or not, not mounted or set
Importing 7113 Articles
of jewelry & parts, of precious metal or clad
Importing 7113190000 Jewelry and parts thereof, of precious metal other than silver
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from India
Importing from Middle East
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%)