MIRA INFORM REPORT
|
Report Date : |
04.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
EXCELLENT SEAFOOD TRADING CORP |
|
|
|
|
Registered Office : |
6fl, 16, Lane 170, Si Wei Rd Ta-An Dist, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
31.07.2002 |
|
|
|
|
Com. Reg. No.: |
80260822 |
|
|
|
|
Legal Form : |
Private Company
With Limited Liability |
|
|
|
|
Line of Business : |
Importing of Materials |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 20,000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Taiwan |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
EXCELLENT SEAFOOD TRADING CORP
6FL, 16, LANE 170,
TEL: 886-2-27031982 FAX:
886-2-27070828
EXECUTIVE SUMMARY
INCORPORATION DATE : JUL. 31, 2002
REGISTRATION NO. : 80260822
LEGAL FORM : PRIVATE COMPANY
WITH LIMITED LIABILITY
CHIEF EXECUTIVE : MS. MEI-YU CHEN (CHAIRMAN)
STAFF STRENGTH : 6
PAID-UP CAPITAL : NTD 16,000,000
BUSINESS LINE : IMPORTER
TURNOVER : NTD 130,000,000
(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 30.15000 = 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 : 寬紅股份有限公司
*CAPITAL (Currency:
NTD - New
======================================
Authorized Capital:
16,000,000
Paid-up Capital:
16,000,000
*OFFICE &
FACILITIES*
====================
Name : EXCELLENT
SEAFOOD TRADING CORP - TA-AN DIST,
Building Size : 134
Square meters
Type of Location :
Residential
Address : 6Fl, 16,
Lane 170,
Country :
Ownership of
Property : Rented / Leased
Status : Operational
*Reputation*
=========
Reference checking
for the purpose of establishing the EXCELLENT SEAFOOD TRADING CORP'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: iftc.mark@msa.hinet.net
For the past two
years there is no record of litigation.
*Major Shareholders*
================
Total number of
shareholders: 4
Total number of
shares: 1,520,000
Shareholders Country Number Amount (NTD) %
Mr. Ching-kuo
Ms. Mei-yu Chen
Mr. Chi-yen Ho
Mr. Ching-min
Name Nationality Job Description Dept. / Division
Ms. Mei-yu Chen Taiwanese Manager Sales
Mr. Ching-kuo
*COMPANY
DIRECTORS*
=====================
1
Name : Mr. Ching-kuo
Chu
Nationality :
Taiwanese
2
Name : Mr. Ching-min
Chu
Nationality :
Taiwanese
3
Name : Ms. Mei-yu
Chen
Nationality :
Taiwanese
*Core Business Description*
====================
Core Business
------------------
The primary business
focus of EXCELLENT SEAFOOD TRADING CORP is:
·Importing - Materials
An integral part of
the core business includes:
·Distribution
Supplementary
Business
------------------------------
In addition to the
core business, EXCELLENT SEAFOOD TRADING CORP also is engaged in the following
areas of business:
Trading
·Value - added Processing
*Primary Products*
==============
Activity Products / Materials / Services Description
---------- -----------------------------------------------------
Importing Fish pastes
Importing Seafood
*Payment Terms*
=============
Selling
--------
Type Terms
Local Cash on delivery (COD)
Credit - Secured with Post-dated checks 30~90 days
Purchasing
-------------
Type Terms
Local Cash on delivery (COD)
Credit - Secured with Post-dated checks 30~90 days
Import Letter of Credit (At-sight)
Telegraphic Transfer (T/T) - Executed at time of transaction
Documents against Acceptance (D/A)
*Competitors*
===========
The following is a
representative list of local competitors:
BAI XIAN WU
ENTERPRISE CO LTD
RADIANT FROZEN FOODS
CO LTD
YEN JING INT'L CO
LTD
YILIN KIBUN CORP
YUAN MAO FISHERY CO
LTD
*Domestic Sales
& Purchases*
=======================
Annual Sales
Analysis Percentage
--------------------------- -------------
Domestic Sales 100%
International Sales
(Export) 0%
Annual Purchases
Analysis Percentage
--------------------------------- -------------
Local Purchases 10%
Imports 90%
*Sales Channel
Analysis*
==================
Sales Channel Sales Channel Ownership Percentage
----------------- ------------------------------- ---------------
Wholesalers Owned
by Subject Business Entity (SBE) N/A
Other Sales Channel N/A 100%
SC is not known to have
any subsidiary at present.
PAYMENT RATING : 3 OBTAINED
SCORES : 50
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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.
*BANK DETAILS*
===============
Bank Name :
CHINATRUST COMMERCIAL BANK LTD
Branch : Hsin-i
Dist,
Branch Address :
14Fl
SWIFT Code :
CTCBTWTP
Bank Name : E.SUN
COMMERCIAL BANK LTD
Branch : Sungshan
Dist,
Branch Address : 115
Min Sheng East Rd Section 3
SWIFT Code :
ESUNTWTP
*FINANCIAL STATEMENT – DETAILED*
=================================
Currency : NTD
Denomination : 1
Financial Year
Ending: December
Financial Highlights
As of 2009
-------------
Total Assets(*) 10,000,000.00
Turnover(*) 130,000,000.00
Profit After Tax
attributable to Shareholders(*) 5,900,000.00
*Financial Summary
(Currency:
==============================
Year Sales Assets
Net Income
2009 4,041,032.02 310,848.62 183,400.68
*Int´l Trade
Activity (Currency:
===============================
Year Imports Exports
Total
2007 2,100,000.00
n/a 2,100,000.00
2008 2,350,000.00
n/a 2,350,000.00
2009 2,500,000.00
n/a 2,500,000.00
SC is considered
small-sized in its line with a development history of 8 years. Taking into
consideration of SC’s general performance, a credit line up to USD 20,000
appears to be within SC’s capacities.
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 5146 Fish
& Seafoods
Importing 2000 Food
and Kindred Products
Importing 2099 Food
products,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 0300 Fish
& crustaceans
Importing 1604201000 Fish pastes
Importing 2106 Food
preparations
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region Estimated level of importance Trading Activity
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.34 |
|
|
1 |
Rs.73.70 |
|
Euro |
1 |
Rs.65.75 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.