MIRA
INFORM REPORT
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Report Date : |
05.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
M2 MARKETING CO LTD |
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Registered Office : |
3FL, 103 FU Hsing South Rd Section 1 Ta-An Dist Taipei City 1063 |
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Country : |
Taiwan |
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Date of Incorporation : |
18.04.2005 |
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Com. Reg. No.: |
27715211 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Local purchasing of bicycles components and related products. Sales distribution of purchased products to international market. |
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 15,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
M2
MARKETING CO LTD
3FL, 103 FU HSING SOUTH RD SECTION 1
TA-AN DIST TAIPEI CITY 1063, TAIWAN
TEL: 886-2-27788308 FAX: 886-2-27786862
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 18, 2005
REGISTRATION NO. :
27715211
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. YAO-HUNG HUANG (CHAIRMAN)
STAFF STRENGTH :
7
CAPITAL :
US$ 492,611
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 15,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.40500 = 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 : 130 sq.meter. (Approx)
Location :
Center Business District (CBD)
Property status :
Rented
*Factories, Size & Locations*
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The company is a trading house focused on exports 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.
SC is not known to host website of its own at present.
E-mail: menglee@m2-intlcorp.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 4
Total number of shares: N/A
Shareholders Country Number Amount %
Mr. Yao-ming Huang Taiwan n/a n/a n/a
Ms. Li-fang Huang Taiwan n/a n/a n/a
Mr. Yao-hung Huang Taiwan 1,490,000.00 n/a n/a
Mr. Tzu-ko Huang Taiwan 10,000.00 n/a n/a
Management: Ms. Meng-lee Wang,
Executive
Mr. Yao-hung Huang, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Meng-lee Wang Taiwanese Executive Sales
Mr. Yao-hung Huang Taiwanese General Manager -
*COMPANY DIRECTORS*
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1
Name :
Mr. Yao-hung Huang
Nationality :
Taiwan
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in the following areas of work:
1. Local purchasing of bicycles components and related products.
2. Sales distribution of purchased products to international
market.
Products: Bicycle components
Chains
Gears
Handles
Motorcycle
footrests
*Payment Terms*
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Sales
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Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchase
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Local : 30-90 days credit
*Competitors*
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The following locally based companies supply similar range of products :
- TRUSTY CYCLE CO LTD
- KEY CONTROL CO LTD
- ABMEX ENTERPRISE CO LTD
- FOURSTAR GROUP INC
- WOEI FONG MACHINERY WORKS CO LTD
*Local Distribution Network*
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There is no record of local sales since the prime focus of the firm's
activity is concentrated on exports only.
*International Trade Activity*
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Note: The "import" figures listed above are not actual
products being imported by M2 MARKETING, but a small percentage of returned
goods manufactured by the firm.
*Export Markets*
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100% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
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 SMALL
amounts depending on individual judgement experience.
As a private limited company with a paid-up capital of less than USD six
(6) million, there is no legal requirement according to local corporate law for
public disclosure of detailed financials.
Although summary financials were obtained for reference.
*BANK DETAILS*
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Bank Name : BANK
SINOPAC CO LTD
Branch :
Chungshan Dist,Taipei City
Branch Address : 941
Chien Kuo North Rd Section 2
SWIFT Code : SINOTWTP
Bank Name : MEGA
INT'L COMMERCIAL BANK CO LTD
Branch Chungcheng Dist,Taipei City
Branch Address : 123
Jhongsiao E Rd Section 2
SWIFT Code :
ICBCTWTP
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 n/a $190,000.00
$190,000.00
2006 $5,000.00 $430,000.00 $435,000.00
2007 $7,000.00 $710,000.00 $717,000.00
*Financial Summary (Currency: U.S. $'s)
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Year Sales Net Income
2007 $866,022.93 $39,227.52
SC is considered small-sized in its line with a short history. A credit
line at the above amount appears to be beyond SC’s capacities, while a credit
line up to USD 15,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3714 Motor
vehicle parts and accessories,
Exporting 3751 Motorcycles,
bicycles, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8211959000 Handles of base metal
Exporting 8483 Transmission
shafts, bearings, gears etc; parts
Exporting 8483409000 Gears and gearing, other than toothed wheels, chain sprockets
and other transmission elements entered separately
Exporting 8708 Parts
& access for motor vehicles (head 8701-8705
Exporting 8714 Parts
& access for cycles & invalid carriages
Exporting 8714190000 Parts, of motorcycles (including mopeds)
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Europe
Exporting to North America
Exporting to USA
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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%)