MIRA INFORM REPORT
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Report Date : |
01.03.2011 |
IDENTIFICATION DETAILS
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Name : |
CHIN MING TRADING CO LTD |
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Registered Office : |
1 Fl, 6 Lane 132 Teh Chang St, Wanhua
Dist, |
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Country : |
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Date of Incorporation : |
05.07.1973 |
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Com. Reg. No.: |
04379791 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Importing and domestic sales
of Linseed oil and other chemical products.
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 30,000 |
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Status : |
Satisfactory |
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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
CHIN
MING TRADING CO LTD
1FL, 6 LANE 132 TEH CHANG ST
WANHUA DIST,
TEL: 886-2-23031975 FAX: 886-2-23050653
EXECUTIVE SUMMARY
INCORPORATION DATE : JULY 5, 1973
REGISTRATION NO. :
04379791
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MR. YI-FENG KUO (CHAIRMAN)
STAFF STRENGTH :
7
AUTHORIZED CAPITAL : NTD 5,200,000
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 29.28 = 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 –
*Company Registration*
===================
License number : 04379791
Date issued : 5 July, 1973
Issuing authority: Ministry of Economic Affairs (MOEA)
*CAPITAL (Currency: NTD)
=====================
Authorized Capital: 5,200,000
*Office & Facilities*
===============
Size :
107 sq. meters
Location :
Property status : Owned by Mr.
Yi-feng Kuo
Type of building : Commercial
building
Comments : Serve as
office, and warehouse.
Other tel no. :
2-23091580
Note: We were unable to
find any reference of the supplied address on any local. The above address as
reflected on our report was confirmed to be its current registered/operating
address.
*Corporate & Organization Structure*
============================
A small sized company operated and managed by an experienced team of
professionals.
*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: cmtrade@ms48.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name
--------------------------
Mr. Yi-feng Kuo
Mr. Sung-tzu Lin
Mr. Yi-hsien- Kuo
*Key Personnel*
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Mr. Yi-feng Kuo
Founder : Co
Founder
Resident status :
Responsibilities : Handles the
daily operation of the firm including all financials and legal matters.
Work experience : More than 30
years.
Management: Mr. Yi-feng Kuo, General Manager
Name Nationality
Job Description
Mr. Yi-feng Kuo Taiwanese General Manager
*Company Director*
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Name : Mr. Yi-feng Kuo
Sex : M
Other Details : Resident status :
Responsibilities : Handles the daily operation of the firm including all
financials and legal matters.
Work experience : More than 30 years.
*Main Products & Services*
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Specializes in importing and domestic sales of Linseed oil and other
chemical products.
Products: Castor oil
Industrial greases
Linseed oil
Olein
Ricinus oil
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Local : Cash
30-90 days credit
Imports : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- QUALIPOLY CHEMICAL CORP
- CHIN HONG TRADING CO LTD
- EVER MORE INDUSTRIAL CO
- GIANT OCEAN ENTERPRISES LTD
- LONG BRIGHTNESS CORP
- YEUAN PARNG ENTERPRISES CO LTD
*Local Distribution Network*
=======================
99% of the annual turnover is attributed to local sales.
*Export Markets*
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1% of the annual turnover is attributed to export.
SC
is not known to have any subsidiary at present.
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 : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : FCBKTWTP
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2003 $1,000,000.00 $50,000.00 $1,050,000.00
2004 $1,497,293.23 $0.00 $1,497,293.23
2005 $2,000,000.00 $100,000.00 $2,100,000.00
SC is considered small-sized in its line with a long development
history. Taking into consideration of SC’s general performance, a credit line
up to USD 30,000 appears to be within SC’s capacities.
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2075 Soybean oil and
byproducts
Importing 2911 Petroleum
refinery products
Importing 2992 Lubricating
oils & greases
Importing 2999 Petroleum and
coal products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 1507902000 Soybean
oil and its fractions, pharmaceutical grade meeting fda requirements for
use in intravenous
fat emulsions, valued over $5/kg
Importing 1301900000 Natural
gums, gum resins, resins and balsams
Importing 1515190000 Linseed
oil and its fractions, refined, not chemically modified
Importing 1515300000 Castor
oil and its fractions, whether or not refined but not chemically modified
Importing 2710003700 Greases,
lubricating, with or w/out additives
Importing 2710004000 Other
greases
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Olein
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.45.18 |
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1 |
Rs.72.79 |
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Euro |
1 |
Rs.62.15 |
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.