MIRA
INFORM REPORT
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Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
HONG CHYI OCEAN ENTERPRISE CO LTD |
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Registered Office : |
20FL-1, 6 Min Chuan 2nd Rd Chienchen Dist
Kaohsiung City 806 |
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Country : |
Taiwan |
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Date of Incorporation : |
29.05.1989 |
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Com. Reg. No.: |
23332614 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Provides deep sea and offshore fishing. Selling of products to both domestic and international markets. |
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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Maximum Credit Limit : |
USD 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
HONG
CHYI OCEAN ENTERPRISE CO LTD
20FL-1, 6 MIN CHUAN 2ND RD CHIENCHEN DIST
KAOHSIUNG CITY 806, TAIWAN
TEL: 886-7-3351886 FAX: 886-7-3352267
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
29, 1989
REGISTRATION NO. :
23332614
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHI-PANG LIN (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 656,814
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 80,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.45067 = 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 Registration*
==================
License Number: 23332614
Date of Registration: 29 May, 1989
Issuing Authority: Ministry of Economic Affairs (MOEA)
Legal Form: Private company with limited liability
Key Industry: Seafood & Fishing Industry
*Office & Facilities*
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Size :
345sq.meter. (Approx)
Location : Kaohsiung City
Property status : Rented
Type of building : Commercial building
Comment : Premises
is shared with the following affiliated companies :
-
KAO JENG FISHERY CO LTD
- TSINFEN FONG FISHERY CO LTD
-
KAO FONG FISHERY CO LTD
*Factories, Size & Locations*
======================
The company is a trading house and maintains no manufacturing
facilities.
*Corporate & Organization Structure*
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The company is one of four 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.
SC is not known to host website of its own at present.
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: 1,170
Shareholders Country Number Amount %
Mr. Chi-pang Lin Taiwan 600.00 n/a 51.28
Ms. Li-ying Wang Taiwan 250.00 n/a 21.37
Ms. Fen-hsien Lin Taiwan 200.00 n/a 17.09
Mrs. Li-hua Lin Wu Taiwan 120.00 n/a 10.26
Management: Mr. Chi-pang Lin, General Manager
Name Nationality
Job Description
Mr. Chi-pang Lin Taiwanese
General Manager
*COMPANY DIRECTORS*
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1
Name : Mr. Chi-pang Lin
Nationality : Taiwanese
2
Name : Mrs. Li-hua Lin Wu
Nationality : Taiwanese
*Main Products & Services*
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Specializes in the following areas of work :
1. Provides deep sea and offshore fishing.
2. Selling of products to both domestic and international markets.
Products: Fish
Marine
products
Squid
Tuna
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Cash
Letter of Credit
(L/C)
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 :
- CORAL REEF INT'L TRADING CO LTD
- DOUBLE WHALE SEAFOOD CO
- HUNDRED MILES MARINE CO LTD
- TONG YENG INDUSTRIAL CO LTD
- NATURAL AGRICULTURE & MARINE PRODUCTS CO LTD
*Domestic Customers*
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Direct sales to local vegetable market and wholesalers.
*Local Distribution Network*
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Approximately 60% annual turnover is attributed to local sales.
*Export Markets*
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Approximately 40% annual turnover is attributed to export.
Note: The firm exports via locally based trading houses which export
under their own corporate name.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name :
KAO FONG FISHERY CO LTD
Address : 20Fl-1, 6 Min Chuan
2nd Rd Chienchen Dist Kaohsiung City 806 Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Seafood & Fishing Industry
Company Name : KAO
JENG FISHERY CO LTD
Address :
20Fl-1, 6 Min Chuan 2nd Rd Chienchen Dist Kaohsiung City 806 Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type : Manufacturer
Industry :
Seafood & Fishing Industry
Company Name :
TSINFEN FONG FISHERY CO LTD
Address :
20Fl-1, 6 Min Chuan 2nd Rd Chienchen Dist Kaohsiung City 806 Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Seafood & Fishing Industry
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
MODERATE 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.
*BANK DETAILS*
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Bank Name :
TA CHONG COMMERCIAL BANKING CORP
Branch :
Chienchen Dist, Kaohsiung City
Branch Address :
187 San Dou 3 Rd
SWIFT Code
: OURBTWTP
SC is considered small-sized in its line with a development history of 19
years. The above credit amount appears to be beyond SC’s capacities, while a
credit line up to USD 80,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 0919 Miscellaneous
marine products,
Exporting 2092 Fresh/Frozen
Fish/Seafoods, NEC
Exporting 5146 Fish
& Seafoods
Trading 0919 Miscellaneous
marine products,
Trading 2092 Fresh/Frozen
Fish/Seafoods, NEC
Trading 5146 Fish &
Seafoods
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 0300 Fish
& crustaceans
Exporting 0302 Fish,
fresh or chilled (no fillets or other meat)
Exporting 0302390040 Tunas, excluding fillets, livers and roes, fresh or chilled
Exporting 0307 Molluscs
& aquatic invertebrates, live etc
Exporting 0307410040 Squid except loligo, live, fresh or chilled
Trading 0300 Fish
& crustaceans
Trading 0302 Fish,
fresh or chilled (no fillets or other meat)
Trading 0302390040 Tunas,
excluding fillets, livers and roes, fresh or chilled
Trading 0307 Molluscs
& aquatic invertebrates, live etc
Trading 0307410040 Squid
except loligo, live, fresh or chilled
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Marine
products
Trader Tuna
Trader Squid
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Trading Activity
Asia / Pacific Exporting
Europe Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.30 |
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UK Pound |
1 |
Rs.84.03 |
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Euro |
1 |
Rs.66.42 |
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%)