MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
GREEN-CHEER TRADE CO LTD |
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Registered Office : |
196, Lane 239, Shan Chiao Rd Section 4, Shetou Hsiang Changhwa Hsien
511 |
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Country : |
Taiwan |
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Date of Incorporation : |
29.04.1994 |
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Com. Reg. No.: |
84851139 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importing and local purchasing of raw sheepskins. |
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 : |
Usually Correct |
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Litigation : |
Clear |
Name & address
GREEN-CHEER TRADE
CO LTD
196, LANE 239, SHAN CHIAO RD SECTION 4
SHETOU HSIANG CHANGHWA HSIEN 511, TAIWAN
TEL: 886-4-8721855
FAX: 886-4-8721849
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 29, 1994
REGISTRATION NO. :
84851139
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. PI-HSING CHIANG (CHAIRMAN)
STAFF STRENGTH :
15
CAPITAL :
US$ 165,837
BUSINESS LINE :
MANUFACTURER
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 30.83081 = 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
*Licenses & Permits*
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License number : 9967857000
Date issued : 30
September, 1999
Issuing authority : Industrial
Development Bureau, MOEA
Office & Facilities*
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Size :
344 sq. meter (Approx.)
Location :
Changhwa Hsien
Property status : Rented
Type of building : Residential
district
Other fax no. : 4-8721856
Note:
The office facilities are shared with a related company, ROOMYCHEER
INDUSTRIAL CO.
*Factories, Size & Locations*
======================
Size : 189
square meter (Approx.)
Location : Changhwa
Hsien
Type of building : Agricultural district
Property status : Rented
*Corporate & Organization Structure*
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A small sized company operated and managed by the owner and family
members.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
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: 2
Total number of shares: 4,500,000
Shareholders Country
Number Amount %
----------------- ---------- -------------- ---------- -------
Ms. Chin-sheg Chen Taiwan 2,250,000.00 n/a 50.00
Ms. Pi-hsing Chiang Taiwan 2,250,000.00
n/a
50.00
Management: Ms. Chin-sheg Chen,
Representative
Ms. Pi-hsing Chiang, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Chin-sheg Chen Taiwanese Representative Sales
Ms. Pi-hsing Chiang Taiwanese
General Manager -
*COMPANY DIRECTORS*
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1
Name : Ms. Pi-hsing Chiang
Nationality : Taiwan
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing and local purchasing of raw sheepskins.
2. Manufacturing and tannery operations, including processing of
sheepskins, and other animal skins.
3. Selling of manufactured products to domestic market.
Products: Hides
Leather
Raw hides
Sheep skins
Tanneries
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Purchase
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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:
- FOREST LEATHER CO LTD
- GO ASIA LEATHER CO
- KUNG-DA INDUSTRIAL CO LTD
- GENTURN ENT CO
- HIDES LEATHERS CO LTD
*Domestic Customers*
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Most of domestic sales are achieved through direct sales to local
manufacturers, as well as to local trading houses which export.
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*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.
NOTE:
At the time of performing this report, the 2007 import / export figures
had not yet been released by the Ministry of Economic Affairs which monitors
exports and imports.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : ROOMYCHEER INDUSTRIAL CO
Address : 196, Lane 239, Shan Chiao Rd Section 4 Shetou Hsiang 511
Changhwa Hsien Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Footwear
PAYMENT RATING : 3 OBTAINED SCORES :
55
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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.
Financials for 2007 have not yet been lodged with Tax Authorities.
*BANK DETAILS*
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Bank Name : TAIWAN BUSINESS BANK
Branch : Shetou Hsiang,
Branch Address : International Department 3Fl, 30 Ta Cheng St Tatung
Dist Taipei City 103 (Head Office)
SWIFT Code : MBBTTWTP
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Shetou Hsiang,
Branch Address : 77 Kuan Chien Rd Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code : TACBTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2006 $846,432.89 $136,033.86 -$45,344.62
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $13,520.98 n/a
$13,520.98
SC is considered small-sized in its line with a development history of
14 years. A credit line up to USD 10,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 0271 Furskins,
raw or undressed and fur-bearing animals
Manufacturing 0271 Furskins,
raw or undressed and fur-bearing animals
Manufacturing 3100 Leather
and Leather Products
Manufacturing 3199 Leather
goods,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 4100 Raw
hides & skins & leather
Importing 4101 Raw
hides & skins of bovine or equine animals
Manufacturing 4100 Raw
hides & skins & leather
Manufacturing 4102 Raw
skins of sheep or lambs
Manufacturing 4205 Articles
of leather
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%)