MIRA
INFORM REPORT
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Report Date : |
22nd
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
HUNG
CHENG LATEX CO LTD |
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Registered Office : |
6-2 Pin
Lan Shu Chiao Shuishang Hsiang Chiayi Hsien 608,
Taiwan |
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Country : |
Taiwan |
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Date of Incorporation : |
15.10.1997 |
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Com. Reg. No.: |
16244143 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged
in manufacturing and domestic sales of rubber 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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
USD 30,
000 |
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Status : |
Small
Company |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company name & Address
HUNG CHENG LATEX CO LTD
6-2 PIN LAN SHU CHIAO SHUISHANG HSIANG CHIAYI HSIEN 608, TAIWAN
TEL :886-5-2891666
FAX :886-5-2891789
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 15, 1997
REGISTRATION NO. :
16244143
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. WEI-YUEH WU (CHAIRMAN)
STAFF STRENGTH :
38
CAPITAL :
US$ 302,297
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : USD
30,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : TWD 32.8800 = US$1 AS OF 2006-11-21
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –Taiwan New Dollars
*Company Registration*
===================
License number
: 16244143
Date issued : 15
October, 1997
Issuing authority
: Ministry of Economic
Affairs (MOEA)
*Office & Facilities*
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Comment :
Serves as office and factory.
Previous Contact Details
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Address
: 2Fl, 19-12 Pu Ting, Tayuan Hsiang, Taoyuan Hsien 337
*Corporate & Organization Structure*
=============================
A small-sized 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.
Web
site: www.hclc.com.tw
SC’s
website is unable to be landed at present for the technical reason.
Email : joan_yeh@hclc.com.tw
For the
past two years there is no record of litigation.
*Major Shareholders*
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Shareholder's Name % of Shares
--------------------------- --------------------
Mr. Wei-yueh
Wu 99.00
Name Nationality
Job Description
Mr. Wei-yueh Wu Taiwanese
General Manager
Ms. Joan Yeh Taiwanese
Sales Representative
*Key Personnel*
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(1)
Mr. Wei-yueh Wu
Founder : Sole
founder
Work experience : More than 5
years
Responsibilities : Handles the daily operation of the firm
including all financials sales and
legal matters.
(2)
Ms. Joan Yeh
Email : joan_yeh@hclc.com.tw
*Main Products & Services*
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Specializes in manufacturing and domestic sales of
rubber products.
Products : Rubber
products
Semiconductor
components
Rubber products
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports
Exports Total
2003 $100,000.00
n/a
$100,000.00
2004 $100,000.00
n/a
$100,000.00
2005 $50,000.00
n/a $50,000.00
*Payment Terms*
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Sales
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Local : Cash
30-60 days credit
Export :
Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : Cash
30-60 days credit
Import :
Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
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The following locally based firms supply similar
range of products:
- ALLSTRONG RUBBER CO LTD
- BRIDGESTONE TAIWAN CO LTD
- CHANG YIH RUBBER INDUSTRIAL CO LTD
- EVERFAME INT'L CO LTD
- FOREST RUBBER INDUSTRIAL CO LTD
*Local Distribution Network*
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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
*LOCAL BRANCHES & MANAGEMENT*
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Branch : HUNG CHENG LATEX CO LTD -
HSINCHU CITY
Branch Address : 2Fl-2, 27 Pu Ting Rd
Branch Zip : 300
Branch City :
Hsinchu City
Branch Tel :
[+886] 3-5795374
Branch Fax :
[+886] 3-5795394
PAYMENT RATING :4
OBTAINED SCORES : 48
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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 SMALL
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 Taiwan
corporate law for public disclosure of detailed financials.
SC is
considered small-sized in its line with a development history of 9 years. It is
considered a credit line up to USD30,000 appears to be within SC’s capacities.
Attached:
trade references
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service
Description
Manufacturing
3000 Rubber & Misc. Plastics
Manufacturing
3069 Fabricated rubber products
Manufacturing
3674 Semiconductors and related devices, and parts
Trading 3000 Rubber & Misc. Plastics
Trading 3069 Fabricated rubber products
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service
Description
Manufacturing
4000 Rubbers & articles thereof
Manufacturing
8542 Electronic integrated circuits & microassembl,
parts
Manufacturing
8542500000 Electronic integrated circuits, and
microassemblies
Trading 4000 Rubbers & articles thereof
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
Importing from Asia
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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