MIRA
INFORM REPORT
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Report Date : |
05.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
IF DE MOD TWN LTD |
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Registered Office : |
6FL, 2-2, Lane 39, Chung Shan North Rd Section 2 Chungshan Dist Taipei
City 104 |
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Country : |
Taiwan |
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Date of Incorporation : |
21.09.1973 |
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Com. Reg. No.: |
12481828 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of various types of woman's skirts, silks, pants and related
garments. Sales and distribution of products to local market. |
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 & address
IF
DE MOD TWN LTD
6FL, 2-2, LANE 39, CHUNG SHAN NORTH RD
SECTION 2 CHUNGSHAN DIST TAIPEI CITY 104,
TAIWAN
TEL: 886-2-25432001 FAX: 886-2-25374431
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 21, 1973
REGISTRATION NO. :
12481828
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHENG-TIEN LEE (CHAIRMAN)
STAFF STRENGTH :
31
CAPITAL :
US$ 1,970,443
BUSINESS LINE :
TRADER
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 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
*Company Name*
==============
Incorporated as : ID MODE TWN LTD
Date of incorporation :
21 September, 1973
Changed name to : IF DE MOD TWN LTD
Date of change : N/A
*Office & Facilities*
===============
Size :
173 sq. meters (Approx.)
Location : Taipei city
Property status : Rented
Type of building : Commercial building
Other e-mail : vif@ms29.hinet.net
*Factories, Size & Locations*
=======================
The company is a trading house focused on imports and maintains no
manufacturing facilities.
*Corporate & Organization Structure*
=============================
A small-sized company operated and managed by an experienced team of
professionals.
www.ifmode.com
The design is professional and the content is well organized. At present it is
in English version.
E-mail: if@ifmode.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 4
Total number of shares: 36,000
Shareholders Country Number Amount %
Mr. Cheng-tien Lee Taiwan 22,800.00 n/a 63.33
Ms. Wu-chun Lee Taiwan 7,800.00 n/a 21.67
Ms. Nung-yu Lee Taiwan 3,200.00 n/a 8.89
Mr. Chiu Wu Taiwan 2,200.00 n/a
6.11
Management: Mr. Cheng-tien Lee, General Manager
Name Nationality
Job Description
Mr. Cheng-tien Lee Taiwanese
General Manager
*Main Products & Services*
====================
Specializes in the following areas of work :
1. Importing of various types of woman's skirts, silks, pants and
related garments.
2. Sales and distribution of products to local market.
Products: Women's camisole
Women's coats
Women's
dresses
Women's
outerwear
Women's pants
*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)
*Competitors*
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The following locally based companies supply similar range of products :
- ATTRACTIVE FASHION CO LTD
- COLOUR POINT FASHION COLLECTION CO LTD
- F & I INDUSTRIAL
- JAMEI CHEN FASHION
- SINGLE NOBLE FASHION
- VISION INC
- CLUB DESIGNER INT'L CO
- METRO GREAT CO
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales to department
stores and retailers.
*International Trade Activity*
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There is no record of Exports because the prime focus of the firm's
activity is concentrated on local sales only.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : IF DE MOD TWN LTD - TAIPEI CITY
Branch Address : 237 Chung Cheng Rd Shihlin Dist, Taipei City, 111
Branch Tel : [+886] 2-28882417
Branch Employees : 3
Branch : IF DE MOD TWN LTD - TAIPEI CITY
Branch Address : 1Fl, 110 Chung Hsiao East Rd Section 4 Ta-an Dist,
Taipei City, 106
Branch Tel : [+886] 2-27516613
Branch Fax : [+886] 2-27516613
Branch Employees : 2
Branch : IF DE MOD TWN LTD - TAIPEI CITY
Branch Address : 1Fl, 281 Ling Sen North Rd Chungshan Dist, Taipei City,
104
Branch Tel : [+886] 2-25214486
Branch Employees : 3
Branch : IF DE MOD TWN LTD - TAIPEI CITY
Branch Address : 10Fl, 31 Chung Shan North Rd Section 2 Chungshan Dist,
Taipei City, 104
Branch Fax : [+886] 2-25616106
Branch Employees : 4
Branch : IF DE MOD TWN LTD - TAIPEI CITY
Branch Address : 1Fl, 31 Chung Shan North Rd Section 2 Chungshan Dist,
Taipei City, 104
Branch Tel : [+886] 2-25315662
Branch Employees : 3
PAYMENT RATING : 3 OBTAINED SCORES :
53
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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 : BANK
OF TAIWAN
Branch :
Chungcheng Dist,Taipei City
Branch Address : 120
Chung Ching South Rd Section 1 Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code :
BKTWTWTP
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
*Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2004 $318,047.01 $0.00 $318,047.01
2005 $521,972.99 $0.00 $521,972.99
2006 $390,905.86 $0.00 $390,905.86
2007 $275,620.97 $0.00 $275,620.97
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2006 $997,581.62 $347,642.08 $142,079.81
2007 $920,337.96 $307,785.15 $123,717.56
SC is considered small-sized in its line with a development history of
35 years. Credit up to moderate amount may be considered.
Attached: trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2300 Apparel/Other
Textile Products
Trading 2331 Women's and
misses' blouses and shirts
Trading 2335 Women's and
misses' dresses
Trading 2337 Women's and misses' suits, skirts, and coats
Trading 2339 Women's and
misses' outerwear,
Trading 5137 Female/Child
Clothing
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 6206400000 Women's or girls' blouses, shirts and shirt blouses of manmade
fibers, not knitted or crocheted
Importing 6403 Footwear,
outer sole rub, plastic or lea & upper leather
Importing 6403991500 Footwear with uppers of leather and non-leather outer soles,
footwear not covering the ankle, house slippers
Trading 6104 Women's
or girls' suits, ensemb etc, knit or crocheted
Trading 6110 Sweaters,
pullovers, vests etc, knit or crocheted
Trading 6210 Garments,
of felt etc, or fabric impregnated etc
Trading 621050 Women's
wear
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Women's
sweaters
Trader Women's outerwear
Trader Women's
shorts
Trader Women's
dresses
Trader Women's
camisole
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from Brazil
Importing from Europe
Importing from France
Importing from Hong Kong
Importing from Italy
Importing from Portugal
Importing from Tunisia
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.12 |
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UK Pound |
1 |
Rs.85.08 |
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Euro |
1 |
Rs.67.41 |
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%)