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MIRA
INFORM REPORT
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Report Date : |
13.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUPREME SKY DEVELOPMENT LTD TAIWAN BRANCH
(HONGKONG) |
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Registered Office : |
9FL-3 Universal Business Center 59 Tun Hua
South Rd Section 2 Ta-An Dist Taipei
City 106 |
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Country : |
Taiwan |
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Date of Incorporation : |
02.07. 1997 |
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Com. Reg. No.: |
16086123 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and Local Purchasing of Diamonds and Jewelry Sales and Distribution of Products to Local 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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
SUPREME
SKY DEVELOPMENT LTD TAIWAN BRANCH (HONGKONG)
9FL-3 UNIVERSAL BUSINESS CENTER 59 TUN HUA
SOUTH RD
SECTION 2 TA-AN DIST TAIPEI CITY 106, TAIWAN
TEL: 886-2-27085827 FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 2, 1997
REGISTRATION NO. :
16086123
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. KAMALKUMAR PRAVICHANDRA DOSHI (CHAIRMAN)
STAFF STRENGTH :
3
CAPITAL :
US$ 165,837
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.88697 = 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
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Registered Legal Address: 2Fl, 1-1 Nanking West Rd Chungshan Dist Taipei
City 104
*Office & Facilities*
===============
Size : 38 sq. meters (Approx.)
Location : Taipei City
Property status : Owned by SUPREME SKY DEVELOPMENT
LTD TAIWAN BRANCH (HONG KONG)
Type of building : Commercial
Building
*Factories, Size & Locations*
======================
The company is a trading house focused on importation of overseas
products, and maintains no manufacturing facilities.
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SC is not known to host website of its own at present.
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For the past two years there is no record of litigation.
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*Major Shareholders*
================
Total number of shareholders: 1
Total number of shares: N/A
Shareholders Country Number Amount %
-------------------- ------------ ----------- ------------ --------
SUPREME SKY Hong
Kong n/a n/a 100.00
DEVELOPMENT LTD
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Management: Mr. Nalinkumar J.
Morakhia, Manager
Mr. Kamalkumar Pravichandra Doshi, General
Manager
Name Nationality
Job Description Dept. / Division
Mr. Nalinkumar J. Morakhia Indian
Manager Sales
Mr. Kamalkumar Pravichandra Doshi Indian
General Manager -
*COMPANY DIRECTORS*
======================
Name: Mr. Kamalkumar Pravichandra Doshi
Nationality: India
Country of Residence: Taiwan
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*Main Products & Services*
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Specializes in the following areas of work:
1. Importing and local purchasing of diamonds and jewelry.
2. Sales and distribution of products to local market.
Products: Diamonds
Jewels
Red jewels
Uncut diamonds
*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:
- CATHAY-OVERSEAS CO LTD
- EMPEROR DIAMOND CO LTD
- KINIK CO
- KONSOL CORP
- PAODA ENTERPRISE CO LTD
*Domestic Customers*
=================
Most of domestic sales are achieved through direct sales to local
manufacturers, as well as to local trading houses and wholesalers.
*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 export since the prime focus of the firm's
activity is concentrated on the local sales only.
Note: At the time of preparing this report, the Ministry of Economic
Affairs had not yet released trade figures for 2007.
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SC is not known to have any subsidiary at
present.
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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.
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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.
Note: At the time of preparing this report, 2007 financial has not yet
been submitted to Taiwan Tax Authorities.
*BANK DETAILS*
===============
Bank Name : BANK
OF TAIWAN
Branch :
Chungcheng Dist,Taipei City
Branch Address : 120
Chung Ching South Rd Section 1
SWIFT Code :
BKTWTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Net Income
2006 $764,812.58 $57,436.52
*Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2004 $820,000.00 n/a
$820,000.00
2005 $740,000.00 n/a
$740,000.00
2006 $600,000.00 n/a
$600,000.00
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SC is considered small-sized in its line with a development history of
11 years..
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3911 Jewelry,
of precious metal
Importing 3961 Jewelry
of materials other than solid gold, platinum & silver
Trading 3911 Jewelry, of
precious metal
Trading 3961 Jewelry of
materials other than solid gold, platinum & silver
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 7102 Diamonds, worked or not, not
mounted or set
Importing 7102390010 Diamonds nonindustrial, (cut, faceted, not set or mounted)
weighing less than 0.5 carat each
Importing 7103 Precious
& semiprec stones, not strung etc
Importing 7113 Articles
of jewelry & parts, of precious metal or clad
Importing 7116 Articles
of natural or cut pearls, prec/semprc stones
Importing 7116201000 Jewelry of precious or semiprecious stones
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7102390010 Diamonds
nonindustrial, (cut, faceted, not set or mounted) weighing less than 0.5 carat
each
Trading 7103 Precious
& semiprec stones, not strung etc
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Jewels
Trader Red
jewels
Trader Uncut
diamonds
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from Hong Kong
Importing from India
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%)