MIRA
INFORM REPORT
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Report Date : |
03.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
PACESETTER ENTERPRISE CO LTD |
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Registered Office : |
135-2, Lane 715, Pei Kang Rd Chiayi City 600 |
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Country : |
Taiwan |
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Date of Incorporation : |
22.12.1990 |
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Com. Reg. No.: |
23991411 |
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Legal Form : |
Private |
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Line of Business : |
Imports of chicken related pharmaceuticals |
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 : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name and address of the company
PACESETTER
ENTERPRISE CO LTD
135-2, LANE 715, PEI KANG RD CHIAYI CITY 600, TAIWAN
TEL: 886-5-2381550 FAX:
886-5-2381511
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 22, 1990
REGISTRATION NO. :
23991411
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. HSIU-CHIN LIAO (CHAIRMAN)
STAFF STRENGTH :
14
CAPITAL :
US$ 603,500
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.46682 = 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
Note: The given address is SC’s registered address “8Fl-3, 93 Chung Chen
3rd Rd Hsinhsing Dist Kaohsiung City 800”, while SC is operating in the heading
address.
*Office & Facilities*
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Size : 160
sq. meters (Approx)
Location :
Chiayi City
Property status : Rented
Type of building :
Residential district
Other E-mail :
paceset@iris.seed.net.tw
*Factories, Size & Locations*
======================
The company is a trading house focused on importation of overseas
products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
===========================
A small -sized company operated and managed by the owner and an
experienced team of professionals.
*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.
E-mail: meggy.chang@pacesetter.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name No of Shares
-------------------------- ------------------
GO FAR INT'L CO LTD
1,100,000
Ms. Hsiu-chin Liao 500,000
Mr. Tzu-yang Huang
400,000
Management: Ms. Meggy Yi-ming
Chang, Executive
Ms. Hsiu-chin Liao, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Meggy Yi-ming Chang Taiwanese
Executive Purchasing
Ms. Hsiu-chin Liao Taiwanese
General Manager -
*Key Personnel*
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(1)
Ms. Hsiu-chin Liao
Resident status : Taiwan
Founder :
Co-Founder
Work experience : More than 17
years
Responsibilities : Handles
the daily operation of the firm including all financials, sales and legal
matters.
(2)
Ms. Meggy Yi-ming Chang
E-mail address :
meggy.chang@pacesetter.com.tw
*Main Products & Services*
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Specializes in two main areas of work:
1. Imports of chicken related pharmaceuticals.
2. Domestic sales of its imported products.
Products: Chicken medicine
Chicken
nutriments
Chicken
vaccines
*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)
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:
- E-REI INT'L CO LTD
- NOVARTIS (TAIWAN) CO LTD
- PROTECT WIN TRADING CO LTD
- SUN EAST TRADING CO LTD
- WYETH TAIWAN CORP
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales direct to
chicken farms.
*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.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
52
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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 MODERATE
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 : E.SUN COMMERCIAL
BANK LTD
Branch : Sungshan
Dist, Taipei City
Branch Address : 115 Min Sheng East Rd Section 3 Sungshan Dist Taipei
City 105 (Head Office)
SWIFT Code : ESUNTWTP
Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2006 $1,185,006.05 $164,752.12 $86,759.37
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2004 $650,000.00 n/a
$650,000.00
2005 $1,100,000.00 n/a $1,100,000.00
2006 $800,000.00 n/a
$800,000.00
SC is considered small-sized in its line with a long history. Credit up
to moderate amount may be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2834 Pharmaceutical
preparations
Importing 5122 Drugs/Druggists'
Sundries
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3000 Pharmaceutical
products
Importing 3002300000 Vaccines for vetrinary medicine
Importing 3002390000 Other vaccines for vetrinary medicine
Importing 3004906003 Other medicaments not elsewhere specified or included for
veterinary use
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from Austria
Importing from Europe
Importing from France
Importing from North America
Importing from Singapore
Importing from USA
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%)