MIRA
INFORM REPORT
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Report Date : |
12.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AUDREY TRADING CO LTD |
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Registered Office : |
6FL-1, 7 Fu Hsing 2nd Rd Linya Dist Kaohsiung City 802 |
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Country : |
Taiwan |
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Date of Incorporation : |
17.12.1993 |
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Com. Reg. No.: |
84713994 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and local purchase of industrial textiles such as rope, cargo as
well as industrial textile machines components machine parts. Sales and distribution to both domestic and international
markets. |
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 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
AUDREY
TRADING CO LTD
6FL-1, 7 FU HSING 2ND RD LINYA DIST
KAOHSIUNG CITY 802, TAIWAN
TEL: 886-7-3336936 FAX: 886-7-3334324
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 17, 1993
REGISTRATION NO. :
84713994
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. ANGEL CHIN-MING YANG (CHAIRMAN)
STAFF STRENGTH :
8
CAPITAL :
US$ 164,204
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 10,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.42741= 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
Registered Legal Address: 1Fl, 10 Wen Wu 3rd St Linya Dist Kaohsiung
City 802
*Office & Facilities*
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Size : 136 sq. meters (Approx)
Location : Kaohsiung
Property status : Rented
Type of building : Apartment
Other e-mail :
atrading@ms17.hinet.net / audreytrading@hotmail.com / ape31776@anet.net.tw
*Factories, Size & Locations*
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The company is a trading house focused on exports and maintains no
manufacturing facilities.
*Corporate & Organization Structure*
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A small specialized company operated and managed by the owner and family
members.
SC is not known to host website of its own at present.
E-mail: aud.trading@msa.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: n/a
Shareholders Country Number Amount %
Ms. Angel Chin-ming Yang Taiwan
n/a n/a 99.00
Undisclosed Shareholders n/a n/a n/a 1.00
Management: Mr. James Yang,
Manager
Ms.
Angel Chin-ming Yang, Manager
Mr. Chin-hung Yang, Representative
Name Nationality Job Description Dept. / Division
Mr. James Yang Taiwanese
Manager Marketing
Ms. Angel Chin-ming Yang Taiwanese
Manager Sales
Mr. Chin-hung Yang Taiwanese
Representative Sales
*COMPANY DIRECTORS*
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1
Name : Ms. Angel Chin-ming Yang
Nationality : Taiwan
*Main Products & Services*
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Specializes in the following areas of work:
1. Import and local purchase of industrial textiles such as rope, cargo
as well as industrial textile machines components machine parts.
2. Sales and distribution to both domestic and international
markets.
Products: Cargo nets
Hardware parts
Machine parts
Nylon
Rope
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
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 :
- SHEN LIAN CHERNG TWISTING YARN CO LTD
- SIN YO TEXTILE FACTORY CO LTD
- ASIA SUN (TAIWAN) INC
- TAIWAN KUO HER INDUSTRIAL CO LTD
- A-BELT-LIN INDUSTRIAL CO LTD
*Local Distribution Network*
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Approximately 90% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 10% of the annual turnover is attributed to export.
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 SMALL
amounts depending on individual judgement experience.
As a private limited company with a paid-up capital of less than USD6
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 : FUBON COMMERCIAL BANK
Branch : Linya Dist,Kaohsiung City
Branch Address : 2Fl B1 Fubon Banking Center 169 Jen Ai Rd Section 4
Ta-an Dist Taipei City 106 (Head Office)
SWIFT Code : This bank does not have a SWIFT Code
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $320,000.00 $20,000.00 $340,000.00
2006 $80,000.00 $30,000.00 $110,000.00
2007 $440,000.00 $40,000.00 $480,000.00
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $603,500.30 $123,717.56 $39,227.52
SC is considered small-sized in its line with a development history of
15 years. A credit line at the above amount appears to be beyond SC’s
capacities, while a credit line up to USD 10,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2200 Textile
Mill Products
Trading 2281 Yarn, spun,
of cotton, man-made fibers, and silk
Trading 3429 Hardware,
Trading 3569 General
industrial machinery and equipment, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 5307 Yarn
of jute & other textile bast fibers
Trading 5307100000 Yarn
of jute or other textile bast fibers of heading 5303: single
Trading 5402 Synthetic
filament yarn (no sew thread), no retail
Trading 5402620000 Synthetic
filament yarn: (other than sewing thread): multiple, folded, or cabled other
yarns, of polyester filament, not put up for retail sale
Trading 7312900000 Plaited
bands, slings and the like, of iron or steel, not electrically insulated, not
stranded wire, ropes or cables
Trading 8302 Hardware,
fixtures, castors etc & parts, base metal
Trading 8479 Machines
etc having individual functions, parts
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Machine
parts
Trader Hardware
parts
Trader Nylon
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Trading Type
Asia / Pacific Exporting,
Importing
Japan Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.72 |
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UK Pound |
1 |
Rs.84.42 |
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Euro |
1 |
Rs.67.38 |
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%)