MIRA
INFORM REPORT
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Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
WORLD SHINER LTD |
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Registered Office : |
4FL-8 Fortune Winner Bldg 206 Sung Chiang Rd Chungshan Dist Taipei
City 104 |
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Country : |
Taiwan |
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Date of Incorporation : |
13.12. 1993 |
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Com. Reg. No.: |
84704741 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and Selling of Diamonds and Jewelry to Local Market. Outsourcing to local factories with value-added processing and setting capabilities. |
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
WORLD
SHINER LTD
4FL-8 FORTUNE WINNER BLDG 206 SUNG CHIANG RD
CHUNGSHAN DIST TAIPEI CITY 104, TAIWAN
TEL: 886-2-25639213 FAX: 886-2-25428151
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 13, 1993
REGISTRATION NO. :
84704741
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. MAULIK NARENDRAKUMAR SHAH (CHAIRMAN)
STAFF STRENGTH :
5
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 30.91561 = 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
*Office & Facilities*
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Size :
31.86 sq. meters (Approx.)
Location : Taipei City
Property status : Rented
Type of building : Commercial
building
Comment : Serves as
office and warehouse.
Other tel no. :
2-25639216
*Factories, Size & Locations*
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The company is a trading house focused on importation of raw gemstones,
and maintains no manufacturing facilities.
*Corporate & Organization Structure*
============================
A small company mainly operated and managed by the owner of the firm.
Web
site: www.worldshiner.com
the design is professional and the content is well organized. At present it is
in English version.
E-mail: world_shiner@yahoo.com
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: 1
Total number of shares: N/A
Shareholders Country
Number Amount %
------------------- ------------- --------- ---------- --------
WORLD SHINER LTD Hong Kong n/a
n/a 100.00
Management: Mr. Mahendra
Jhaaveri Roopesh, Executive
Mr. Maulik Narendrakumar Shah, General Manager
Name Nationality
Job Description Dept. / Division
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Mr. Mahendra Jhaaveri Roopesh Taiwanese
Executive Sales & Marketing
Mr. Maulik Narendrakumar Shah Indian
General Manager -
*COMPANY DIRECTORS*
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Name :
Mr. Maulik Narendrakumar Shah
Nationality :
India
Country of Residence : Taiwan
*Main Products & Services*
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Specializing in the following main areas of work:
1. Importing and selling of diamonds and jewelry to local market.
2. Outsourcing to local factories with value-added processing and
setting capabilities.
3. Designing of customized high-end jewelry.
4. Management of daily sales to local customers.
Products: Diamond
Diamond
jewelry
Jewelry
Jewelry, precious
stone
Jewelry,
semi-precious stones
*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)
*Competitors*
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The following locally based companies supply identical range of products
:
- CORNERSTONE MANAGEMENT LTD TAIWAN BRANCH (HK)
- DIAMOND WORLD JEWELRY CO LTD
- EMPEROR DIAMOND CO LTD
- JUST GOLD DIAMOND CO LTD
- CHING CHT CO LTD
- ANCIENT STONE JEWELRY & HANDICRAFT CO
- GOLDEN ART & JEWELRY CO LTD
- HARRY WINSTON INC - TAIWAN BRANCH (USA)
- ROSHAN INT'L LTD
- GOLDEN ELEGANCE LTD TAIWAN BRANCH (HONG KONG)
- BLANCO ENTERPRISE CO LTD
- THAI FINE GEMS & JEWELRY LTD
- ANTHONY JEWELRY CO LTD
- JAZZY SCIENCE TRADE INC
- S B GEMS (HONG KONG) CO LTD TAIWAN BRANCH
- SHAYONA INT'L LTD
*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.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name :
ISHA TRADING CO LTD
Country : :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type : :
Trader
Industry : :
Giftware & Jewellery
Company Name :
RD LTD TAIWAN BRANCH (HK)
Address : 8Fl-1,
Bldg 2, Lane 79, Fu Hsing Rd Section 1 Chungshan Dist Taipei City 104 Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Unknown
Company Type :
Trader
Industry :
Giftware & Jewellery
Company Name :
WORLD SHINER JEWELLERY LTD
Address : 4Fl-8
Fortune Winner Bldg 206 Sung Chiang Rd Chungshan Dist Taipei City 104 Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Importer
Industry :
Giftware & Jewellery
PAYMENT RATING : 3 OBTAINED SCORES :
61
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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 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 been
submitted to Taiwan Tax Authorities.
*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 :
CHINATRUST COMMERCIAL BANK LTD
Branch :
Hsin-i Dist,Taipei City
Branch Address : 14Fl
China Trust Bldg 3 Sung Shou Rd Hsin-i Dist Taipei City 110 (Head Office)
SWIFT Code :
CTCBTWTP
Financial Summary (Currency: U.S. $'s)
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Year Sales Net Income
2003 $4,514,994.23 $247,923.88
2006 $4,534,461.91 $69,528.42
*Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2001 $3,589,000.00 $0.00 $3,589,000.00
2002 $2,865,000.00 $0.00 $2,865,000.00
2003 $4,000,000.00 $0.00 $4,000,000.00
2004 $3,000,000.00 $0.00 $3,000,000.00
2005 $4,000,000.00 $0.00 $4,000,000.00
2006 $2,500,000.00 $0.00 $2,500,000.00
SC is considered
small-sized in its line with a development history of 15 years.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3961 Jewelry
of materials other than solid gold, platinum & silver
Importing 5094 Jewelry/Watches/Precious
Mtl
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 7116201000 Jewelry of precious or semiprecious stones
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Diamond
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from Belgium
Importing from Europe
Importing from India
Importing from Nepal
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%)