MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SENMAY SPECIAL CHEMICAL CORP |
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Registered Office : |
6FL, 176 Nanking East Rd Section 2
Chungshan Dist Taipei City 104 |
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Country : |
Taiwan |
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Date of Incorporation : |
28.02.1990 |
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Com. Reg. No.: |
23625652 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Imports of various types of Chemical Raw Materials. Domestic Sales of it's Imported Products. |
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 25,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name
& address
SENMAY
SPECIAL CHEMICAL CORP
6FL, 176 NANKING EAST RD SECTION 2 CHUNGSHAN
DIST
TAIPEI CITY 104, TAIWAN
TEL: 886-2-25098007 FAX: 886-2-25091633
EXECUTIVE SUMMARY
INCORPORATION DATE : FEBRUARY 28, 1990
REGISTRATION NO. :
23625652
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. MEI-CHUN LIU (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 156,250
BUSINESS LINE : IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 25,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 31.91417 = 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 : 107 sq. meters
Property status : Rented
Type of building :
Commercial building
Comment : Serves as office and warehouse.
Previous Contact Details
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Address : 12Fl-2, 99 Chien Kuo North Rd Section 2 Chungshan Dist Taipei
City 104
Tel no : 2-25093188
*Factories, Size & Locations*
======================
The company is a trading house focused on import and maintains no
manufacturing facilities.
*Corporate & Organization Structure*
============================
A small size company operated and managed by the owner.
SC is not known to host website of its own at present.
E-mail: senmay@ms24.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 %
Ms. Mei-chun Liu Taiwan n/a n/a 99.00
Undisclosed Shareholders n/a n/a n/a 1.00
Management: Mr. Fu-wen Lai,
Manager
Ms. Mei-chun Liu, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Fu-wen Lai Taiwanese
Manager Sales
Ms. Mei-chun Liu Taiwanese
General Manager -
*COMPANY DIRECTORS*
=======================
1
Name :
Ms. Mei-chun Liu
Nationality :
Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Imports of various types of chemical raw materials.
2. Domestic sales of it's imported products.
Products also includes:
- Other monophenols and their salts
- Sodium dimethyl dithiocarbamate
- Thiocarbamates and other dithiocarbamates
Products: Activated carbon
Amino compound
Amino-alcohol
Carboxylic
acid
Chemical
products
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Purchases
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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 :
- ABC METAL & CHEMICAL CORP
- BIG CARAT TRADING CO LTD
- CHENG HSIN TANG CHEMICAL CO LTD
- FORMOSA SOUNDING CORP
- GAMY MARS ENTERPRISE CO LTD
- CHROMA CHEMICAL CORP
- DOW CHEMICAL TAIWAN LTD
- IMPERIAL CHEMICAL CORP
- EXTREME ENERGY ENTERPRISE CO LTD
- BAO MING TRADING CO 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.
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 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.
*BANK DETAILS*
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Bank Name : BANK SINOPAC CO
LTD
Branch : Chungshan
Dist,Taipei City
Branch Address : 5Fl Int'l Bank of Taipei Bldg 36 Nanking East Rd
Section 3 Chungshan Dist Taipei City 104 (Head Office)
SWIFT Code : SINOTWTP
Bank Name : FUBON COMMERCIAL
BANK
Branch : Ta-an
Dist,Taipei City
Branch Address : 2Fl B1 Fubon Banking Center 169 Jen Ai Rd Section 4
Ta-an Dist Taipei City 106 (Head Office)
SWIFT Code : This bank does
not have a SWIFT Code
Bank Name : SHANGHAI
COMMERCIAL & SAVINGS BANK LTD
Branch : Chungshan
Dist,Taipei City
Branch Address : Shanghai Bank Tower 2 Min Chuan East Rd Section 1
Chungshan Dist Taipei City 104 (Head Office)
SWIFT Code : SCSBTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Net Income
2007 $2,232,951.12 $93,542.55
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2003 $800,000.00 $0.00 $800,000.00
2004 $1,000,000.00 $0.00 $1,000,000.00
2005 $1,400,000.00 $0.00 $1,400,000.00
2006 $1,600,000.00 $0.00 $1,600,000.00
2007 $1,800,000.00 $0.00 $1,800,000.00
SC is considered small-sized in its line with a development history of
18 years. Taking into consideration of SC’s general performance, a credit line
up to USD 25,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2800 Chemicals
and Allied Products
Importing 2899 Chemical
preparations,
Importing 5169 Chemicals/Allied
Prdts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2825 Hydrazine
etc, other inorg bases; metal oxides etc
Importing 2918 Carboxylic
acid, added oxygen & anhy etc, hal etc
Importing 2922 Oxygen-function
amino-compounds
Importing 2922199550 Amino-alcohols, their ethers and esters, other than those
containing more than one kind of oxygen function, not elsewhere specified or
included
Importing 2930 Organo-sulfur
compounds
Importing 2933 Heterocyclic
comp, nit hetero-atom; nucleic acids
Importing 2934 Heterocyclic
compounds
Importing 3800 Miscellaneous
chemical products
Importing 3802 Activated
carbon etc.; animal black, inc spent
Importing 3819 Hydraulic
brake fluids/liq for hydraulic trans etc
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Activated
carbon
Importer Hydraulic brake
fluid
Importer Naphthenic
acid
Importer Amino-alcohol
Importer Esters
Importer Lithium
hydroxide
Importer Sulphide
Importer Polysulphide
Importer Monophenols
Importer Dithiocarbamates
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Importing
Europe Importing
Belgium Importing
China Importing
Germany Importing
India Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.12 |
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UK Pound |
1 |
Rs.79.60 |
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Euro |
1 |
Rs.63.83 |
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%)