MIRA INFORM REPORT
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Report Date : |
10.03.2011 |
IDENTIFICATION DETAILS
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Name : |
DIVES TRADING CO LTD |
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Registered Office : |
11fl, 328 Sung |
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Country : |
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Date of Incorporation : |
22.06.1968 |
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Com. Reg. No.: |
11775803 |
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Legal Form : |
Private Company
With Limited Liability |
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Line of Business : |
Buying Office |
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 35,000 |
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Status : |
Small Company |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
DIVES TRADING CO LTD
11FL, 328 SUNG
TEL: 886-2-25816176/25114879
FAX: 886-2-25518187
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 22, 1968
REGISTRATION NO. :
11775803
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MS. CHI-CHANG LIN (CHAIRMAN)
STAFF STRENGTH :
6
PAID-UP CAPITAL :
NTD 5,000,000
BUSINESS LINE :
EXPORTER
TURNOVER : NTD 180,000,000
(AS OF DECEMBER, 2009)
EQUITIES : N/A (AS OF
DECEMBER, 2009)
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : TWD 29.34125 = 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 : 聖益貿易股份有限公司
*CAPITAL (Currency:
NTD - New
=====================================
Authorized Capital:
5,000,000
Paid-up Capital:
5,000,000
*PREVIOUS CONTACT
DETAILS*
===========================
Company Address :
1Fl,
*REAL ESTATE
OWNERSHIP*
=========================
The following
property / ies are owned by DIVES TRADING CO LTD :
Property Name :
DIVES TRADING CO LTD - CHUNGSHAN DIST,
Type of Property :
Office located in a building - Strata title
Address : 11Fl, 328
Sung
Office Size : 102
Square meters
Estimated Value :
NTD 9,000,000.00
Property Legal
Status : Not mortgaged
*REPUTATION*
=============
Reference checking
for the purpose of establishing the DIVES TRADING CO LTD's reputation within
the respective industry failed to reveal any adverse information.
SC is
not known to host website of its own at present.
E-mail: fhlin888@ms48.hinet.net
For the past two
years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders:
4
Total number of
shares: 230,000
Shareholders Country Number %
Mr. Chi-chang
Lin
Mrs. Kuo-ching Lin
Chao
Mr. Chi-yu Lin
Mr. Wei-sheng
Lin
Name Nationality
Job Description Dept. / Division
Mr. Chi-chang Lin Taiwanese General Manager -
Mr. Chi-yu Lin Taiwanese Supervisor Administration
Mr. Wei-sheng Lin Taiwanese Manager Marketing
Mr. Kuo-ching Lin
Chao Taiwanese Director Accounts
*COMPANY
DIRECTORS*
=====================
1
Name : Mr. Chi-chang
Lin
Country of Residence
:
2
Name : Mr. Chi-yu
Lin
3
Name : Mr. Wei-sheng
Lin
4
Name : Mr. Kuo-ching
Lin Chao
*CORE BUSINESS
DESCRIPTION*
===========================
Core Business
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The primary business
focus of DIVES TRADING CO LTD is:
·Buying office - On behalf of overseas third
parties
An integral part of
the core business includes:
·Distribution
*Primary Products*
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Activity Products / Materials / Services Description
Exporting Bicycle parts
Exporting Brake pads
Exporting Brakes
Exporting Cushion foam-rubber
Exporting Forks
*PAYMENT TERMS*
=================
Selling
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Type Terms
Export Letter of Credit (At-sight)
Telegraphic Transfer (T/T) - Received at time of transaction
Purchasing
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Type Terms
Local Cash on delivery (COD)
Credit - Secured with Post-dated checks 30~90 days
*COMPETITORS*
==============
The following is a
representative list of local competitors:
ABENI CORP
FALCON CYCLE-PARTS
CO LTD
FU CHENG CYCLE
INDUSTRIES CO LTD
FU JIH CO LTD
GOLDHILL INDUSTRIAL
CORP
TAIWAN EVERBRIGHT CO
LTD
*DOMESTIC SALES
& PURCHASES*
=============================
Annual Sales
Analysis Percentage
---------------------------- -------------
Domestic Sales 0%
International Sales
(Export) 100%
Annual Purchases
Analysis Percentage
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Local Purchases 100%
Imports 0%
The export figures
generated by the Subject Business Entity (SBE) do not equate to 100% of the
annual turnover because most of the products manufactured are sold to local
businesses which then export using their own corporate names.
SC is not known to have
any subsidiary at present.
PAYMENT RATING : 3
OBTAINED SCORES : 53
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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.
*BANK DETAILS*
===============
Bank Name :
CHINATRUST COMMERCIAL BANK LTD
Branch : Hsin-i
Dist,
Branch Address :
14Fl China Trust Bldg 3 Sung Shou Rd, Hsin-i Dist, Taipei City 110 (Head
Office)
SWIFT Code :
CTCBTWTP
Bank Name : TAIPEI
FUBON COMMERCIAL BANK CO LTD
Branch : Chungshan
Dist,
Branch Address :
TAIPEI FUBON COMMERCIAL BANK CO LTD - CHUNGSHAN DIST, SUN PARK BLDG 82 SUNG
CHIANG RD
SWIFT Code :
TPBKTWTP
*FINANCIAL STATEMENT
– DETAILED*
=================================
Currency : NTD
Denomination : 1
Financial Year
Ending : December
Financial Highlights
As
of 2009
------------------------ --------------
Turnover(*) 180,000,000
Profit After Tax
attributable to Shareholders(*) 7,900,000
*Financial Summary
(Currency:
==============================
Year Sales Net Income
2008 $6,552,795 $111,801
2009(*) $5,595,275 $245,570
Note: (*)
Financials listed
are the most recent available for this company.
*Int´l Trade
Activity (Currency:
===============================
Year Imports Exports
Total
2003 $100,000.00 $2,000,000.00
$2,100,000.00
2004 $50,000.00 $2,500,000.00
$2,550,000.00
2005 $50,000.00 $3,000,000.00
$3,050,000.00
2006 n/a $4,360,791.99 $4,360,791.99
2007 $20,169.01 $4,571,037.99
$4,591,207.00
2008 $15,623.01 $4,803,268.98
$4,818,891.99
2009 n/a $400,000 $400,000
SC is considered
small-sized in its line with a development history of 43 years. Taking into
consideration of SC’s general performance, a credit line up to USD 35,000
appears to be within SC’s capacities.
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3751 Motorcycles,
bicycles, and parts,
Exporting 5092 Toys
& Hobby Goods & Supplies
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8712 Bicycles
& other cycles (inc
Exporting 8712006000 Bicycles and cycles, (including delivery tricycles), not
motorized
Exporting 6813100010 Brake linings and pads for use in civil aircraft, with a basis
of asbestos or other
mineral substance
Exporting 8215992600 Forks and base metal parts
Exporting 9503 Toys;
scale models etc; puzzles; parts etc
Exporting 9500 Toys,
games & sports equip; parts & accessories
Exporting 8525209050 Transmission apparatus incorporating receivers,
Exporting 5910 Transmission/conveyor
belts,
Exporting 9501 Wheel
toys ridden by child; doll stroll; pts & accessories
Exporting 8714190030 Wheels of motorcycles (including mopeds)
DETAILED PRODUCT CLASSIFICATION &
ACTIVITY
Activity Ranking
Products / Materials / Services
Description
Exporting Primary
Transmissions
Exporting Primary
Wheels
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region Estimated level of importance Trading Activity
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.02 |
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1 |
Rs.72.70 |
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Euro |
1 |
Rs.62.54 |
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.