MIRA INFORM REPORT
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Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
YURAK INT'L TRADING CO LTD |
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Registered Office : |
19 fl-2, |
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Country : |
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Date of Incorporation : |
14.07.2006 |
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Com. Reg. No.: |
28359464 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Domestic purchase and
imports of a wide range of plastic raw materials and other related chemical
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 |
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 : |
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 & address
YURAK INT'L TRADING CO LTD
19FL-2,
TEL: 886-4-22939440 FAX:
886-4-22935750
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 14, 2006
REGISTRATION NO. :
28359464
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE : MR. CHIN-SHAN LIU
(CHAIRMAN)
STAFF STRENGTH : 8
CAPITAL : US$ 159,744
BUSINESS LINE : TRADER
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 30.15750 = 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 –
Name in Local Language : 坤廣國際貿易有限公司
*CAPITAL (Currency:
NTD)
======================
Authorized Capital :
5,000,000
*Office &
Facilities*
================
Size : 416 sq meters
(Approx)
Location : Commercial Area
Property status : Rented
Other contact
details
----------------------------
Tel nos. :
4-22963121 /22939655
Fax no. : 4-22917108
Note: Although
rented by the company, the premise is owned by chairman management, Mr.
Chin-shan Liu.
*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 sized
specialized company operated and managed by the owner.
www.yurak.com.tw The design is professional and the content is
well organized. At present it is in Chinese, Japanese and English versions.
E-mail: gwellvan@ms78.hinet.net
For the past two
years there is no record of litigation.
*Major Shareholders*
================
Total number of
shareholders: 1
Total number of
shares: 4,700,000
Shareholders Country Number Amount
(NTD) %
Mr. Chin-shan
Liu
Management: Ms. Grace Hung, Representative
Ms.
Lulu Hsu, Representative
Ms.
Emily Shao-lun Hsu, Representative
Name Nationality
Job Description Dept. / Division
Ms. Grace Hung Taiwanese Representative Executive
Ms. Lulu Hsu Taiwanese Representative Executive
Ms. Emily Shao-lun
Hsu Taiwanese Representative Sales
Mr. Chun-chien Liu Taiwanese Executive Sales & Marketing
Mr. Chin-shan Liu Taiwanese Managing Director -
*COMPANY
DIRECTORS*
=====================
1
Name : Ms. Grace
Hung
Sex : F
2
Name : Ms. Lulu Hsu
Sex : F
3
Name : Ms. Emily
Shao-lun Hsu
Sex : F
Email : emmy.yurak@msa.hinet.net
4
Name : Mr.
Chun-chien Liu
Sex : M
Mobile No. :
939929892
5
Name : Mr. Chin-shan
Liu
Sex : M
Country of Residence
:
Other Details : Work
experience : More than 4 years
Responsibilities : Handles
the daily operation of the firm including all financial and legal matters.
*Main Products &
Services*
======================
Specializes in the
following areas of work :
1. Domestic purchase
and imports of a wide range of plastic raw materials and other related chemical
products.
2. Export and
domestic sales of its purchased products.
Products: ABS
regrinds
BOPET films
BOPP films
Butadiene rubber
Chemical products
*Payment Terms*
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Sales
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Local : Cash on delivery (COD)
30-90 days credit Secured with
Post-dated checks
Export : Letter of
Credit (L/C)
Telegraphic Transfer (T/T) -
Received at time of transaction
Document against Acceptance (D/A)
Purchases
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Local : Cash on delivery (COD)
30-90 days credit Secured with
Post-dated checks
Import : Letter of
Credit (L/C)
Telegraphic Transfer (T/T) -
Received at time of transaction
Document against Acceptance
(D/A)
*Competitors*
===========
The following
locally based companies supply similar range of products:
- AMPRO TECHNOLOGIES
INC
- ATOFINA FAR EAST
LTD
- CHIN MOU CO LTD
- FITEK INDUSTRIAL
CORP
- IDACHEM CO LTD
- EVERMORE TRADING
CORP
*DOMESTIC SUPPLIERS*
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TAI LI PLASTICS CO
LTD
*Local Distribution
Network*
=======================
57% of the annual
turnover is attributed to local sales.
*Export Markets*
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43% 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 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 local corporate law for public disclosure of detailed
financials.
Although financial
summaries were obtained for reference.
*BANK DETAILS*
===============
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : ICBCTWTP
Bank Name : TA CHONG COMMERCIAL BANKING CORP
Branch : Linya Dist,
Branch Address :
SWIFT Code : OURBTWTP
*Financial Summary
(Currency:
==============================
Year Sales Assets
Net Income
2008 $1,801,242.24 $121,118.01 $77,639.75
2009 $1,880,634.13 $124,339.45 $80,820.64
*Int´l Trade
Activity (Currency:
===============================
Year Imports Exports
Total
2006 $400,000.00 $0.00
$400,000.00
2007 $600,000.00 $500,000.00
$1,100,000.00
2008 $800,000.00 $690,000.00
$1,490,000.00
2009 $400,000.00 $720,000.00
$1,120,000.00
SC is considered
small-sized in its line with a short development history. Taking into
consideration of SC’s general performance, a credit line up to USD 10,000
appears to be within SC’s capacities.
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2800
Chemicals and Allied Products
Trading 2821
Plastics materials and resins
Trading 2822
Synthetic rubber
Trading 2899
Chemical preparations,
Trading 3000
Rubber & Misc. Plastics
Trading 3069
Fabricated rubber products,
Trading 3081
Plastics film, strips, and sheets,
unsupported
Trading 3089
Plastics products,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3904210000
Other polymers of polyvinyl
chloride, nonplasticized
Exporting 3921904000
Plates, sheets, film, foil &
strip, plas, ex cellular, flexible,
Exporting 4002800000
Mixtures of any product of heading
4001 with any product of heading 4002
Importing 3903190000
Polystyrene,
Importing 4002190000
Styrene-butadiene rubber (sbr);
carboxylated styrene-butadiene rubber (xsbr),
except latex nesot
Trading 3800
Miscellaneous chemical
products
Trading 3823905050
Chemical products and preparations of
the chemical or allied industries
Trading 3900
Plastics & articles
thereof
Trading 3902100000
Polypropylene
Trading 3920610000
Plates, sheets, film, foil &
strip, noncelluar, not reinforced, laminated, combined,
of polycarbonates
DETAILED PRODUCT CLASSIFICATION &
ACTIVITY
Activity Product/Service
Description
Trader Chemical products
Trader EPDM
Trader NBR rubber
Trader Transparent films
Trader PE regrind
Trader POM regrind
Trader PP regrind
Trader Pearlized BOPP films
Trader Plastic raw materials
Trader SBR (styrene butadiene
rubber)
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region
Middle-East Exporting
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.73.17 |
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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 |
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.