MIRA INFORM
REPORT
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Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
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Name : |
FARMALITE TRADING CO LTD |
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Registered Office : |
1FL, 243 Min Tsu West Rd Tatung Dist, |
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Country : |
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Date of Incorporation : |
25.07.2001 |
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Com. Reg. No.: |
12932921 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Importing of Raw Materials Used for Animal Medicines and Feed
Additives |
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 |
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 : |
Moderate |
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Payment
Behaviour : |
No complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
FARMALITE
TRADING CO LTD
1FL, 243 MIN TSU WEST RD TATUNG DIST,
TEL: 886-2-25852215
FAX: 886-2-25852235
EXECUTIVE SUMMARY
INCORPORATION DATE : JULY 25, 2001
REGISTRATION NO. :
12932921
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MS. EVELYNE PAO-CHUAN WANG (CHAIRMAN)
STAFF STRENGTH :
9
AUTHORIZED CAPITAL : NTD 20,000,000
BUSINESS LINE : IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2009)
EQUITIES :
N/A (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 29.57726 = 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 –
*Capital Details*
==============
Initial authorized capital : NTD 10,000,000.00
Capital increase :
NTD 20,000,000.00
Date of increase :
N/A
*Office & Facilities*
===============
Size : 366
sq. meters (approx)
Location : Central
Business District (CBD)
Property status : Rented
Type of building : Commercial building
Comments : Serves as
office and warehouse.
*Factories, Size & Locations*
======================
The company is a trading house focused on importation of overseas
products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
============================
A small company mainly operated and managed by the owner.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
E-mail: farmalt.clemen@msa.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: N/A
Total number of shares: N/A
Shareholders Country
%
Ms. Evelyne Pao-chuan Wang Taiwan 99.00
Undisclosed Shareholders n/a 1.00
Management: Mr. Yen-ping Chen,
Manager
Ms. Evelyne Pao-chuan Wang, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Yen-ping Chen Taiwanese
Manager Sales
Ms. Evelyne Pao-chuan Wang Taiwanese
General Manager -
*Company Director*
===============
1
Name : Mr. Yen-ping Chen
Sex : M
E-mail : farmalt.clemen@msa.hinet.net
2
Name : Ms. Evelyne Pao-chuan Wang
Sex : F
Country of Residence :
Other Details : Working experience : More than 7 years
Responsibilities : Handles the daily operation of the firm including all
financials and legal matters.
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Importing of raw materials used in four (4) key industry sectors:
(a) Animal medicines and feed additives
(b) Western pharmaceuticals
(c) Cosmetic
(d) Health foods
2. Domestic OEM sales of its imported products to local factories.
Products: Alkaloid opiates
Amino acids
Ammonia
theophylline
Aromatic imines
Aromatic
monocarboxylic acid
*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)
Telegraphic Transfer
(T/T)
Document against
Acceptance (D/A)
Open account D/A
terms with settlement using Telegraphic Transfer (T/T)
*Competitors*
===========
The following locally based companies supply similar range of products:
- ELANC CHEMICAL CO LTD
- FU LUNG HSING TRADING CO LTD
- GREEN COMFORT CO LTD
- TRADSHINE CO LTD
- UNIVERSAL INTEGRATED CORP
*Domestic Customers*
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Most of domestic customers are manufacturers which incorporate the
purchased raw materials into their respective production of finished products.
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales
*International Trade Activity*
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At the time of performing this report, the 2007 export figures had not
yet been released by the Ministry of Economic Affairs which monitors exports
and imports.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
*(Subsidiaries, Joint-ventures & Affiliates)
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Business Entity Name : ESLITE TRADING CO LTD
Address : 1Fl,
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Consumer Products
Business Entity Name : TAYLIN CHEMICAL CORP
Address : 1Fl,
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Chemicals
PAYMENT
RATING : 3 OBTAINED SCORES : 56
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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 MODERATE
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
*BANK DETAILS*
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Bank Name : SHANGHAI COMMERCIAL & SAVINGS BANK LTD
Branch : Chungshan Dist,
Branch Address :
Account No. : 01105108000022150
SWIFT Code : SCSBTWTP
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : TACBTWTP
*Financial Summary (Currency:
==============================
Year Sales Assets Net Income
2006 $6,206,166.87 $362,756.95 $293,379.69
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2002 $1,500,000.00 n/a $1,500,000.00
2003 $2,000,000.00 n/a $2,000,000.00
2004 $3,000,000.00 n/a $3,000,000.00
2005 $2,250,000.00 n/a $2,250,000.00
2006 $4,130,241.84 n/a $4,130,241.84
Credit amount: USD 125,000
SC is considered small-sized in its line with a development history of
10 years. The above credit amount appears to be beyond SC’s capacities, while a
credit line up to USD 25,000 is recommended.
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2834 Pharmaceutical
preparations
Importing 2869 Industrial
organic chemicals,
Importing 2879 Agricultural
pesticides and other agricultural chemicals,
Importing 5122 Drugs/Druggists'
Sundries
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 1302190000 Vegetable
saps and extracts
Importing 2916390000 Aromatic
monocarboxylic acids, their anhydrides, halides, peroxides, peroxyacid and
their derivatives not elsewhere specified or included
Importing 2918900500 Para-anisic
acid; clofibrate; 1,6-hexanediol-bis(3,5-dibutyl-4-hydroxyphenyl)propionate;
and 3-phenoxybenzoic acid
Importing 2922492000 Aromatic
amino-acids and their esters, other than those containing more than one kind of
oxygen function for use as drugs
Importing 2925 Carboxyimide-function
comp; imine-function com etc
Importing 2930 Organo-sulfur
compounds
Importing 2932 Heterocyclic
compounds, oxygen hetero-atom(s) only
Importing 2933 Heterocyclic
comp, nit hetero-atom; nucleic acids
Importing 2933390000 Compounds
containing an unfused pyridine ring (whether or not hydrogenated) in the
structure
Importing 2933591500 Other
pesticides containing a pyrimidine ring (whether or not hydrogenated) or
piperazine ring in the structure
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Organo-sulfur
compounds
Importer Pesticides
Importer Phenols
halogenated derivative
Importer Insulin
Importer Insulin
preparations
Importer Alkaloid
opiates
Importer Caffeine
Importer Ammonia
theophylline
Importer Organic
compounds
Importer Protein
isolates
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.20 |
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1 |
Rs.73.16 |
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Euro |
1 |
Rs.61.88 |
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 |
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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NB |
New Company |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.