MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
TWO CHANGING CO LTD |
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Registered Office : |
5-3 Kung Chien Rd Chitu Dist Keelung City 206 |
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Country : |
Taiwan |
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Date of Incorporation : |
12.07.1983 |
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Com. Reg. No.: |
12450120 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Research and development of medical precision human temperature
measurement. Importing of raw materials and components for in-house OEM production |
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 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
TWO
CHANGING CO LTD
5-3 KUNG CHIEN RD CHITU DIST
KEELUNG CITY 206, TAIWAN
TEL: 886-2-24517878 FAX: 886-2-24511549
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 12, 1983
REGISTRATION NO. :
12450120
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. PAO-SHU TING (CHAIRMAN)
STAFF STRENGTH :
15
CAPITAL :
US$ 310,559
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 20,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.35725 = 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 : 9966739700
Date issued : 8 December 2003
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Size : 396 sq. meters (Approx.)
Location : Keelung City
Facilities : Modern
Property status : Rented
Type of building : Industrial
building
Comments : Serves as office, factory and
warehouse
Other e-mail : info@twochanging.com
Previous Contact Details
-----------------------------------
Address : 104 Taliao
Rd Juifan Chen Taipei Hsien 224
Tel no :
2-24968101
Fax no :
2-24968100
Postal address : PO Box 48-277
*Corporate & Organization Structure*
============================
A small-medium sized specialized company operated and managed by the
owner and a professional management team.
www.twochanging.com
The design is professional and the content is well organized. At present it is
in English version.
E-mail: twochang@ms25.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 2
Total number of shares: N/A
Shareholders Country Number Amount %
Mr. Pao-shu Ting Taiwan n/a n/a 99.00
Undisclosed Shareholders n/a n/a n/a 1.00
Management: Ms. Su-mei Chen,
Manager
Ms. Hui-chin Chan, Specialist
Mr. Pao-shu Ting, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Su-mei Chen Taiwanese
Manager Business Development
Ms. Hui-chin Chan Taiwanese
Specialist Sales
Mr. Pao-shu Ting Taiwanese
General Manager -
*COMPANY DIRECTORS*
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1
Name : Mr. Pao-shu Ting
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Research and development of medical precision human temperature
measurement.
2. Importing of raw materials and components for in-house OEM production
3. Manufacturing a wide range of encapsulated liquid crystal, thermo
chromic products and other related thermograph products.
4. Sales and distribution of products to both local and international
markets.
Products: Baby products
Cards
Christmas tree
decorations
Color changing
ornaments
Forehead fever
thermometer
*Brand*
======
FeverCare
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Open account /DA terms with settlement
using Telegraphic Transfer (T/T)
*Exhibition Participation*
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Participated in the following local exhibitions:
(1)
Exhibition fair : Giftionery
Taipei - Taipei Int'l Gift & Stationery Spring Show
Dates attended : 21-25 April, 2000
Location : Taipei
World Trade Center (TWTC)
(2)
Exhibition fair : Giftionery
Taipei - Taipei Int'l Gift & Stationery Autumn Show
Dates attended : 25-28 October, 1999
Location : Taipei World Trade Center (TWTC)
(3)
Exhibition fair : Giftionery
Taipei - Taipei Int'l Gift & Stationery Autumn Show
Dates attended : 25-28 October, 2000
Location : Taipei
World Trade Center (TWTC)
(4)
Exhibition fair : Taipei International
Gift Stationery Spring Show
Dates attended : 21-25 April, 2001
Location : Taipei World
Trade Center - Exhibition Hall
*Competitors*
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The following locally based companies supply similar range of products:
- WUU GA TRADING CO LTD
- HERS MEDICAL CO LTD
- MART TILLER CORP
- SINYUH GLASS INSTRUMENT CO LTD
- TONG SHIN GLASS INSTRUMENT CO LTD
*Local Distribution Network*
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An estimated 25% of the annual turnover is attributed to local sales.
Sales are achieved through the following distribution channels:
1. Wholesaling to other hospital or pharmacy outlets in Taipei and other
parts of Taiwan.
2. Direct sale to consumers via mail orders
*Export Markets*
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An estimated 75% of the annual turnover is attributed to export.
*International Exhibition Participation*
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Exhibition fair : Hong Kong
Gifts and Houseware Fair 2000
Dates attended : 17-20 April, 2000
Location : Hong Kong
Convention and Exhibition Centre
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 financial.
Although financial summaries were obtained for reference.
*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 : LAND BANK OF TAIWAN
Branch : Chungcheng Dist,Taipei City
Branch Address : 46 Kuan Chien Rd Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code : LBOTTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2007 $844,900.42 $235,365.12 $36,210.02
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $150,000.00 $430,000.00 $580,000.00
2006 $90,000.00 $390,000.00 $480,000.00
2007 $160,000.00 $510,000.00 $670,000.00
SC is considered small-sized in its line with a development history of
25 years. Taking into consideration of SC’s general performance, a credit line
up to USD 20,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 2392 Housefurnishings,
Manufacturing 2678 Stationery
products
Manufacturing 2771 Greeting
cards
Manufacturing 3469 Cooking
and kitchenware of aluminum (except cast),
Manufacturing 3999 Manufactured
articles,
Manufacturing 5023 Homefurnishings
Manufacturing 5047 Medical/Dental
Equip/Supplies
Service 5947 Gift,
Novelty & Souvenir Shops
Trading 2392 Housefurnishings,
Trading 2678 Stationery
products
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3926909050 Other articles of plastic,
Exporting 9025190000 Thermometers, not combined with other instruments
Exporting 9025900000 Parts and accessories for hydrometers and similar floating
instruments, therometers, pyrometers, barometers, hygrometers and psychrometers
Importing 3204191900 Solvent dyes and preparations based thereon
Manufacturing 3924
Tableware & other household
articles etc, plastics
Manufacturing 3924902000 Picture
frames
Manufacturing 4909004040 Cards,
printed, whether or not illustrated, with or without envelopes or trimmings
Manufacturing 8215 Tableware
etc of base metal, & base metal parts
Manufacturing 8306 Bells
etc (nonelec), ornaments, ph frames etc base metal parts
Manufacturing 8306300000 Photograph,
picture or similar frames; mirrors; parts thereof, of base metal
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Pet products
Manufacturer Promotional
items
Manufacturer Thermometers
Manufacturer Color changing
ornaments
Manufacturer Forehead fever
thermometer
Manufacturer Picture
frames
Manufacturer Gift items
Manufacturer Christmas tree
decorations
Manufacturer Metalware, hand
painted
Manufacturer Premiums
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Africa Exporting
Asia / Pacific Exporting
Europe Exporting
North America Exporting,Importing
Australia Exporting
Belgium Exporting
Bulgaria Exporting
Canada Exporting
Czech Republic Exporting
Ecuador Exporting
France Exporting
Germany Exporting
Hong Kong Exporting
Hungary Exporting
Ireland Exporting
Italy Exporting
Mexico Exporting
Netherlands Exporting
Peru Exporting
Russia Exporting
Singapore Exporting
South Africa Exporting
Spain Exporting
Thailand Exporting
Turkey Exporting
USA Exporting,Importing
United Kingdom Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.74 |
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UK Pound |
1 |
Rs.85.19 |
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Euro |
1 |
Rs.66.12 |
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%)