MIRA
INFORM REPORT
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Report Date : |
28.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
BEST MERIT INDUSTRIES CO LTD |
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Registered Office : |
6FL, 209 Shuang Shih Rd Section 2 Panchiao City Taipei Hsien 220 |
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Country : |
Taiwan |
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Date of Incorporation : |
14.06.1995 |
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Com. Reg. No.: |
89552321 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Provides Environmental Engineering Services. Importing and Local Purchasing of Components and Machinery Parts used
for Control of Industrial Pollution and Waste Management. |
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 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
BEST
MERIT INDUSTRIES CO LTD
6FL, 209 SHUANG SHIH RD SECTION 2
PANCHIAO CITY TAIPEI HSIEN 220, TAIWAN
TEL: 886-2-22541066 FAX: 886-2-22540420
EXECUTIVE SUMMARY
INCORPORATION DATE : JUNE 14, 1995
REGISTRATION NO. :
89552321
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHIANG-TEH CHEN (CHAIRMAN)
STAFF STRENGTH :
8
CAPITAL :
US$ 164,204
BUSINESS LINE : TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES : N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 10,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 32.05200 = 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 : 75.87 sq. meters (Approx.)
Location : Taipei Hsien
Property status : Rented
Type of building : Retail outlet in a semi-residential
building
Other tel nos. : 2-22505592 / 2-22505597
*Factories, Size & Locations*
======================
The company is a trading house focused on exports and maintains no
manufacturing facilities.
*Corporate & Organization Structure*
=============================
A small sized company operated and managed by an experienced team of
professionals.
SC is not known to host website of its own at present.
E-mail: bestmerit@ms58.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: N/A
Shareholders Country Number Amount %
Mr. Chiang-teh Chen Taiwan n/a n/a 99.00
Undisclosed Shareholders n/a n/a n/a 1.00
Management: Mr. Ku-feng Tai,
Manager
Mr. Chiang-teh Chen, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Ku-feng Tai Taiwanese
Manager Sales
Mr. Chiang-teh Chen Taiwanese General Manager -
*COMPANY DIRECTORS*
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1
Name : Mr. Chiang-teh Chen
Nationality : Taiwanese
*Main Products & Services*
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Specializes in the following areas of work:
1. Provides environmental engineering services.
2. Importing and local purchasing of components and machinery parts used
for control of industrial pollution and waste management.
3. Selling of products to domestic
and international market.
Products: Electric equipment
Electro-medical
apparatus
Electromedical
apparatus parts
Electronic
equipment
Electrotherapeutic
apparatus
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
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 :
- SINTECH ENVIRONMENTAL TECHNICS INC
- GLOBAL-ENTECH CO LTD
- LOTUS ECOSCIENCE & ENGINEERING CO LTD
- COSMOS BIOTECH CO LTD
- XINYEN ENVIRONMENTAL TECHNOLOGY CO LTD
- YONG CHANG PERFECTS TECHNOLOGY CO LTD
*Domestic Customers*
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Most of the domestic sales are achieved through direct sales to end-user
customers, including :
- Taiwan Government
- Schools
- Factory
*Local Distribution Network*
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Approximately 90% of the annual turnover is attributed to local sales,
mainly through direct sales to end-user
customers.
*Export Markets*
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Approximately 10% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES :
50
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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 financials summaries were obtained for reference.
*BANK DETAILS*
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Bank Name : BANK OF TAIWAN
Branch : Panchiao City
Branch Address : 120 Chung Ching South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : BKTWTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $512,975.26 $96,560.05 $15,087.51
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $120,000.00 $150,000.00 $270,000.00
2006 $70,000.00 $90,000.00 $160,000.00
2007 $40,000.00 $45,000.00 $85,000.00
SC is considered small-sized in its line with a development history of 13
years. The above credit amount appears to be beyond SC’s capacities, while a
credit line up to USD 10,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Service 9500 Environmental
Quality & Housing
Trading 3600 Electronic & Electric Equip.
Trading 3845 Electromedical
and electrotherapeutic apparatus, and parts,
Trading 4952 Sewerage
Systems
Trading 5065 Electronic
Parts/Equip, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Service 9800 Agric,
construction, trans, electric/ gas/ sanitary, eng & mgmt & envir.
quality
Trading 8421 Centrifuges;
filter etc mach for liquid or gases; parts
Trading 8421210000 Water
filtering or purifying machinery and apparatus
Trading 8421290050 Filtering
or purifying machinery and apparatus for liquids
Trading 8530 Electric
signal, safety or traffic control equipment
Trading 9000 Optical,
photographic, cinematographic, measuring, checking, precision, medical or
surgical instruments & accessories
Trading 9018 Medical,
surgical, dental or vet inst, no elec, part
Trading 9018907080 Electro-medical
instruments and appliances and parts and accessories
Trading 9861 Sewerage
systems
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Electrotherapeutic
apparatus
Trader Strainers
Trader Electromedical
apparatus parts
Trader SBR sewage
disposal systems
Trader Health nursing
articles
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,
Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.43 |
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UK Pound |
1 |
Rs.85.38 |
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Euro |
1 |
Rs.67.95 |
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%)