MIRA
INFORM REPORT
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Report Date : |
08.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SEEDMAN CO LTD |
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Registered Office : |
6FL, 235 Chung Hsiao East Rdsection 4
Ta-An Dist Taipei City 106 |
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Country : |
Taiwan |
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Date of Incorporation : |
13.03.2007 |
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Com. Reg. No.: |
28477820 |
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Legal Form : |
Private |
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Line of Business : |
Importing wide range of wines. |
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 : |
Slow but Correct |
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Litigation : |
Clear |
name and address of the company
SEEDMAN
CO LTD
6FL, 235 CHUNG HSIAO EAST RD
SECTION 4 TA-AN DIST TAIPEI CITY 106, TAIWAN
TEL: 886-2-87728126 FAX: 886-2-87728120
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 13, 2007
REGISTRATION NO. :
28477820
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. TA-NING HSI (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 271,575
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.47189 = 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 : 222 sq meters (Approx)
Location : Central
Business District (CBD)
Property status : Rented
Type of building : Commercial
building
Other tel. no. :
2-87728121
*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*
==========
Due to the recent incorporation of the firm, no meaningful points of
reference in terms of reputation within the respective industry was possible.
SC is not known to host website of its own at present.
E-mail: elsie.yu@seedman.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name % of Shares
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Mr. Ta-ning Hsi 99.00
Undisclosed Shareholders 1.00
Management: Ms. Chia-yi Yu,
Manager
Ms. Karen Mei-chi Lin, Manager
Mr. Daniel Fu-yuan Yang, Executive
Name Nationality
Job Description Dept. / Division
Ms. Chia-yi Yu Taiwanese
Manager Brand
Ms. Karen Mei-chi Lin Taiwanese
Manager Human Resources
Mr. Daniel Fu-yuan Yang Taiwanese
Executive Sales
Mr. Ta-ning Hsi Taiwanese
General Manager -
*Key Personnel*
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(1)
Mr. Ta-ning Hsi
Resident status : Taiwan
Founder :
Sole-Founder
Work experience : More than 1
year
Responsibilities : Handles
the daily operation of the firm including all financial and legal matters.
(2)
Ms. Karen Mei-chi Lin
Tel no : 2-87728121 Ext : 802
E-mail :
karenlin@cornerwine.com.tw
(3)
Ms. Chia-yi Yu
Tel no : 2-87728121 Ext : 812
(4)
Mr. Daniel Fu-yuan Yang
Tel no : 2-87728121 Ext : 809
E-mail :
daniel.yang@seedman.com.tw
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing wide range of wines.
2. Sales and distribution of wines to local market.
Products: Cointreau
Liquors
Wines
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Purchase
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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:
- SEVEN PYRAMID ENTERPRISE CO LTD
- THOMAS WINE CO LTD
- NANLIEN INT'L CORP
- SERGIO VALENTE INC
- LEADING BRANDS WINES & SPIRITS CO LTD
*Import Agencies*
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Company name : WOLF BLASS WINES LIMITED
Brand : WOLF
BLASS
Proudcts : - Wolf
Blass Platinum Label Shiraz
- Wolf Blass Black Label
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Shiraz Cabernet Sauvignon
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Wolf Blass Grey Label Cabernet Sauvignon
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Wolf Blass Grey Label Shiraz
- Wolf Blass Gold Label
Cabernet Sauvignon
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Wolf Blass Gold Label Riesling
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Wolf Blass Presidents Selection Cabernet Sauvignon
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Wolf Blass Presidents Selection Shiraz
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Wolf Blass Presidents Selection Chardonnay
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Wolf Blass Yellow Label Cabernet Sauvignon
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Wolf Blass Yellow Label Merlot
- Wolf Blass Yellow Label
Shiraz
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Wolf Blass Red Label Shiraz Cabernet
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Wolf Blass Red Label Semillon Sauvignon Blanc
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Wolf Blass Red Label Frontignac Traminer
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Wolf Blass Red Label Tawny Port
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Wolf Blass White Label Cabernet Merlot
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Wolf Blass White Label Unwooded Chardonnay
- Wolf Blass Bilyara Shiraz
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Wolf Blass Bilyara Chardonnay
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Wolf Blass Eaglehawk Cabernet Sauvignon
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Wolf Blass Eaglehawk Shiraz Merlot Cabernet Sauvignon
- Wolf Blass Eaglehawk Chardonnay
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
Sales are focused on two main channels:
1. Retailing of wines to walk-in consumers at their retail outlet.
2. Sale to restaurants, Karoke bars, hotels and business clubs.
Note: The retail outlet is in fact owned and managed by the affiliate
firm, CORNING ORIENTAL CO LTD
*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.
*Overseas Suppliers*
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Major overseas suppliers include:
Suppliers' Name
Country Products/materials
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STAGS' LEAP WINERY
USA Wines
MAISON LOUIS LAOTUR
France Wine
BERINGER VINYARDS USA Wine
CHATEAU ST JEAN
USA Wine
*IMPORTER AGENCY LISTING*
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Supplier :
REMY COINTREAU SLR
Country of Origin :
France
Product Description :
Champagne cognac
Brand :
Remy Martin
Year :
2007
Supplier :
WOLF BLASS WINES PTY LTD
Country of Origin :
Australia
Product Description :
Wines
Brand :
WOLF BLASS
Year :
2007
Supplier :
WOLF BLASS WINES PTY LTD
Country of Origin :
Australia
Product Description :
Wines
Brand :
Saltram
Year :
2007
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : CORNING
ORIENTAL CO LTD
Address : 9Fl Kuang-Fu Bldg 320
Chung Hsiao East Rd Section 4 Ta-an Dist Taipei City 106 Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type : Importer
Industry :
Beverages
Company Name : MAXXIUM
TAIWAN LTD
Address :
5Fl 310 Chung Hsiao East Rd Section 4 Ta-an Dist Taipei City 106 Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Importer
Industry :
Beverages
PAYMENT RATING : 4 OBTAINED SCORES :
35
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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.
Since the company was only established nine (9) months ago no financials
have been lodged to local Tax authorities.
*Bank Details*
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Bank Name : MEGA
INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist, Taipei City
Branch Address : 123 Jhongsiao E Rd Section 2 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : ICBCTWTP
SC is considered small-sized in its line with a short history. Credit
dealings with SC should be confined into small amount at present.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2084 Wines,
brandy, and brandy spirits
Importing 2085 Distilled,
rectified, and blended liquors
Importing 5182 Wine/Distilled
Alcohol Bev
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2200 Beverages,
spirits & vinegar
Importing 2204 Wine
of fresh grapes; grape must
Importing 2208700000 Liqueurs and cordials
Importing 2208907500 Other spirituous beverages
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Importing from Australia
Importing from Europe
Importing from France
Importing from North America
Importing from Oceania
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%)