MIRA
INFORM REPORT
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Report Date : |
17.09.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
HEMMAY INT'L CORP |
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Registered Office : |
1FL, 486 Chung Shan Rd Section 3
Kueijen Hsiang Tainan Hsien 711 |
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Country : |
Taiwan |
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Date of Incorporation : |
16.05.2000 |
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Com. Reg. No.: |
70508043 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing of satin tape, woven edge satin tapes, christmas woven ribbons
and other related ribbon laces. Sales and Distribution of products to overseas 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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Maximum Credit Limit : |
USD 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
HEMMAY
INT'L CORP
1FL, 486 CHUNG SHAN RD SECTION 3
KUEIJEN HSIANG TAINAN HSIEN 711, TAIWAN
TEL: 886-6-3300566 FAX: 886-6-3300566
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 16, 2000
REGISTRATION NO. :
70508043
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHUNG-SHUN LIN (CHAIRMAN)
STAFF STRENGTH :
40
CAPITAL :
US$ 3,021,346
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 50,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 30.42741= 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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(1)
License number : 99656995
Date issued : 3 June,
2000
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 99684460
Date issued : 17 June,
2004
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
================
Building size : 800 sq
meters (Approx)
Location : Kueijen Hsiang
Facilities : Modern
Property status : Rented
Type of building : Industrial
building
Comment : Serves as
office, factory and warehouse
Other Contact Details
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Tel no. : 6-3307566
Fax no. : 6-3307866
Telefax no. : 2-23459000
Note : The address (Rm 4D07 Taipei World Trade Center (TWTC) 5 Hsin Yi
Rd Section 5, Hsin-i Dist, Taipei City) mentioned in the inquiry belongs to the
company's affiliate company, JUNMAY LABEL MFG CORP.
*Factories, Size & Locations*
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Building size : 500 sq
meters (Approx)
Location : Tainan
County
Facilities : Modern
Property status : Rented
Type of building : Industrial building
*Corporate & Organization Structure*
=============================
A small-medium sized specialized company operated and managed by the
owner.
SC is not known to host website of its own at present.
E-mail: junmay@jmlabel.com
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders : 6
Total number of shares : 74,031
Shareholders Country Number Amount %
Mr. Chung-shun Lin Taiwan 15,640.00 n/a
21.13
Mr. Joseph Ming-lieh Lin Taiwan 14,691.00 n/a
19.84
Mr. Hua-kuan Lo Taiwan 13,800.00 n/a 18.64
Ms. Hsiao-yuan Chang Taiwan 13,800.00 n/a
18.64
Ms. Chin-hua Su Taiwan 9,200.00 n/a 12.43
Ms. Yueh-mei Chen Taiwan 6,900.00 n/a
9.32
Management: Mr. Joseph Ming-lieh
Lin, Manager
Mr. Chung-shun Lin, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Joseph Ming-lieh Lin Taiwanese
Manager Sales
Mr. Chung-shun Lin Taiwanese
General Manager -
*COMPANY DIRECTORS*
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1
Name : Mr. Chung-shun Lin
Nationality : Taiwan
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in the following areas of work :
1. Manufacturing wide range of satin tape, woven edge satin tapes,
christmas woven ribbons and other related ribbon laces.
2. Sales and distribution of products to overseas market.
Products: Gift wrapping ribbons
Labels
Satin tapes
Woven edge satin
tapes
Woven ribbons
*Payment Terms*
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Sales
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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
*Competitors*
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The following locally based companies supply similar range of products:
- LUNG I HSING SPINNING ENTERPRISE CO LTD
- TSONG JIAW ENTERPRISE CO LTD
- YU SHIN DEVELOPMENT CO LTD
- RUKASA INT'L CORP
- DANKING ENTERPRISE LTD
*Local Distribution Network*
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There is no record of local sales since the prime focus of the firm's
activity is concentrated on exports only.
*Export Markets*
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100% of the annual turnover is attributed to export.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name :
JUNMAY LABEL MFG CORP
Address : Rm 4D07
Taipei World Trade Center (TWTC) 5 Hsin Yi Rd Section 5 Hsin-i Dist Taipei City
110 Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Consumer Products
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 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 : FIRST
COMMERCIAL BANK CO LTD
Branch :
Chungcheng Dist,Taipei City
Branch Address : 10Fl,
30 Chungking South Rd Section 1
SWIFT Code :
FCBKTWTP
Bank Name : KING'S
TOWN BANK
Branch :
Central Dist,Tainan City
Branch Address : 506
Ximen Rd Section 1
SWIFT Code : This
bank does not have a SWIFT Code
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2007 $2,504,526.25 $1,207,000.60 $117,682.56
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2005 $1,700,000.00 $39,000.00 $1,739,000.00
2006 $0.00 $690,000.00 $690,000.00
2007 $0.00 $1,900,000.00 $1,900,000.00
SC is considered small-sized in its line with an 8 years development
history. Taking into consideration of SC’s general performance, a credit line up
to USD 50,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2200 Textile
Mill Products
Exporting 2299 Textile
goods,
Exporting 2395 Embroideries,
wholly or in chief weight textile fibers
Exporting 2399 Fabricated
textile products,
Manufacturing 2200 Textile
Mill Products
Manufacturing 2299 Textile
goods,
Manufacturing 2395 Embroideries,
wholly or in chief weight textile fibers
Manufacturing 2399 Fabricated
textile products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 5806 Narrow
woven fabrics except labels etc in pc etc
Exporting 5810 Embroidery
in the piece, in strips or in motifs
Exporting 5810920000 Embroidery in the piece, in strips or in motifs: other
embroidery of manmade fibers
Manufacturing 5806 Narrow
woven fabrics except labels etc in pc etc
Manufacturing 5810 Embroidery
in the piece, in strips or in motifs
Manufacturing 5810920000 Embroidery
in the piece, in strips or in motifs: other embroidery of manmade fibers
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Woven edge satin
tapes
Manufacturer Labels
Manufacturer Gift wrapping
ribbons
Manufacturer Woven ribbons
Manufacturer Satin tapes
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Trading Type
Asia / Pacific Exporting
Middle-East Exporting
North America Exporting
South America Exporting
Bangladesh Exporting
Canada Exporting
Ecuador Exporting
El Salvador Exporting
Hong Kong Exporting
India Exporting
Pakistan Exporting
Singapore Exporting
South Korea Exporting
USA Exporting
United Arab Emirates Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.63 |
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UK Pound |
1 |
Rs.83.76 |
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Euro |
1 |
Rs.66.49 |
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%)