MIRA
INFORM REPORT
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Report Date : |
10.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAFATEX AGRO TRADING CO LTD |
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Registered Office : |
14FL, 268 Wen Hua Rd Section 1 Panchiao City Taipei Hsien 220 |
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Country : |
Taiwan |
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Date of Incorporation : |
26.06.1978 |
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Com. Reg. No.: |
30856360 |
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Legal Form : |
Private |
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Line of Business : |
Importing a wide range of food spice |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name and address of the company
KAFATEX AGRO
TRADING CO LTD
14FL, 268 WEN HUA RD SECTION 1 PANCHIAO CITY
TAIPEI HSIEN 220, TAIWAN
TEL: 886-2-22527121 FAX:
886-2-22527110
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 26, 1978
REGISTRATION NO. :
30856360
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. PING-HO KAO (CHAIRMAN)
STAFF STRENGTH :
8
CAPITAL :
US$ 1,508,751
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 32.47514 = 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
*Company Name*
==============
Previous Name : KAFATEX
INDUSTRIAL INC
Changed name to : KAFATEX AGRO TRADING
CO LTD
Date of change : November
2007
*Office & Facilities*
===============
Size :
680 sq. meters (Approx.)
Location :
Taipei Hsien
Property status : Rented
Type of building :
Commercial building
Comment : Premises
is shared with an affiliated company, ZIMI CHEMICALS CO LTD. It also rented a
total of three (3) units on the 14th floor, namely:
- #14-0
- #14-1
- #14-2
Other website
: www.ldstaiwan.com/lin/big5.htm
*Factories, Size &
Locations*
=======================
The company is a trading house, and maintains no manufacturing
facilities.
*Corporate & Organization Structure*
===========================
A small-sized company mainly operated and managed by the owner and an
experienced team of professionals.
The company is one of two owned and operated at the same premises.
Collectively this firm in conjunction with related firms is a well established
medium-sized company operated and managed by 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.
Web
site: www.kafatex.com
SC’s website is unable to be landed at present for the technical reason.
E-mail: zimigp@tpts6.seed.net.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name
No. of Shares
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Mr. Yung-sheng Kao
1,000,000
Mr. Ping-ho Kao 550,000
Mr. Tai-ping Kao 550,000
Ms. Li-na Hsu 480,000
Management: Ms. Mei-li Yen,
Representative
Mr. Ping-ho Kao,
General Manager
Name Nationality
Job Description Dept. / Division
Ms. Mei-li Yen Taiwanese
Representative Sales
Mr. Ping-ho Kao Taiwanese
General Manager -
*Key Personnel*
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Mr. Ping-ho Kao
Founder :
Co-founder
Work experience : More
than 25 years experience
Resident status :
Taiwan
Responsibilities :
Handles the daily operation of the firm including all financials and legal
matters.
Other position :
Chairman of the following companies :
- ZIMI CHEMICALS CO LTD
- HIFORCE CHEMICALS CO LTD
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing a wide range of food spice.
2. Domestic sales of its products to local consumers.
Products: Anis seeds
Cinnamon
Cloves
Curry powder
Disodium
carbonate
*Payment Terms*
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Sales
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Local : Cash, 30-60 days credit
Purchases
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Local : Cash, 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:
- PHOENIX PERSONAL CARE INC
- MALAVILLA INT'L TRADING CO LTD
- WELLNOW INT'L INC
- YEOU TAY CHEMICAL ENTERPRISE 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 performing this report, the 2007 export figures had
not yet been released by the Ministry of Economic Affairs which monitors
exports and imports.
*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.
*Subsidiaries, Joint-ventures & Affiliates*
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Originally Mr. Kao and investors maintained a total of four (4) related
companies. However in April 2007, two of the four firms were voluntarily closed
for unknown reasons. These include:
- INMAX INDUSTRIAL CO LTD
- WAVELIT INT'L CO LTD
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : HIFORCE
CHEMICALS CO LTD
Address : 6
Fu Hsin Rd Hukou Hsiang 303 Hsinchu Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Chemicals
Company Name : ZIMI CHEMICALS
CO LTD
Address :
14Fl, 268 Wen Hua Rd Section 1 Panchiao City 220 Taipei Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Chemicals
PAYMENT RATING : 3 OBTAINED SCORES :
51
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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 Taiwan corporate law for
public disclosure of detailed financials.
Although summary financials were obtained for reference.
*Bank Details*
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Bank name : TAIPEI FUBON
COMMERCIAL BANK CO LTD
Branch : Taipei City
Swift code : TPBKTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2006 $890,568.32 $137,847.64 $54,111.25
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2003 $600,000.00 $0.00 $600,000.00
2004 $700,000.00 $0.00 $700,000.00
2005 $800,000.00 $0.00 $800,000.00
2006 $590,000.00 $0.00 $590,000.00
SC is considered an old-established business with acceptable base to
meet moderate amount of credit dealings.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 1474 Sodium
nitrate, potassium chloride or muriate of potash; and potassium sulphate
Importing 2000 Food
and Kindred Products
Importing 2068 Salted
and roasted nuts
Importing 2087 Flavoring
extracts and flavoring sirups,
Importing 2099 Food
products,
Trading 2087 Flavoring
extracts and flavoring sirups,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 0904110000 Pepper of the genus piper (black and white), neither crushed
nor ground
Importing 2833111000 Salt cake of disodium sulfate
Importing 2836200000 Disodium carbonate
Trading 0904 Pepper,
genus piper; genus capsicum or pimenta
Trading 0906 Cinnamon
and cinnamon-tree flowers
Trading 0907 Cloves
(whole fruit, cloves and stems)
Trading 0909 Seeds,
anise, badian, fennel, coriander, cumin etc
Trading 0910500000 Curry
Trading 2008195000 Watermelon
seeds, prepared or preserved
Trading 2836200000 Disodium
carbonate
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Pepper
Trader Anis
seeds
Trader Cloves
Trader Cinnamon
Trader Curry
powder
Trader Watermelon
seeds
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from China
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%)