MIRA
INFORM REPORT
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Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
JINCOLOR CO LTD |
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Registered Office : |
15-146, Lin 4, Kuo Ling Li Chungli City Taoyuan Hsien 320 |
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Country : |
Taiwan |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
APRIL 13, 2000 |
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Com. Reg. No.: |
70547524 |
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Legal Form : |
Private |
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Line of Business : |
Import of chemical materials & related pigment resin
colors products. Production of pigment print pastes and printing pastes. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
JINCOLOR CO LTD
15-146, LIN 4, KUO LING LI CHUNGLI CITY TAOYUAN HSIEN 320, TAIWAN
TEL : [+886] 3-4985568
FAX : [+886] 3-4985132
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 13, 2000
REGISTRATION NO. :
70547524
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. HOWARD HUA-YANG CHANG (CHAIRMAN)
STAFF STRENGTH :
13
CAPITAL :
US$ 510,268
BUSINESS LINE :
MANUFACTURER
TURNOVER :
US $1,165,402.84 (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
USD 50,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.12612 = US$1 AS OF 2007-4-4
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*
===================
(1)
License number :
70547524
Date issued
: 13 April, 2000
Issuing authority :
Ministry of Economic Affairs (MOEA)
Legal form
: Private Limited Company
(2)
License number :
9962929200
Date issued
: 12 June, 2000
Issuing authority :
Ministry of Economic Affairs (MOEA)
Type of license :
Factory License
*Capital Details*
==============
Authorized capital : NTD 16,946,000.00, fully paid.
*Office & Facilities*
===============
Size :
900 sq feet (approx)
Location
: Taoyuan Hsien
Property status
: Rented
Comments
: Serves as office and factory.
Other Contact Details
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Tel No. : 3-4984781, 4985560
Fax No. : 3-4985132
Email : jincolor@ms61.hinet.net
Previous Contact Details
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(1)Address
: 2Fl, 192-1 Hsi Ning South Rd Taipei City 108
Tel No.
: 2-23709266
(2)Address
: Rm B 4Fl, 48-1 Shuang Shih Rd Taipei Hsien 220
Tel No.
: 2-82585777
Fax No.
: 2-82527683
*Corporate & Organization Structure*
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A small company operated and managed by the owner and family
members.
*Industry Ranking*
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Generally regarded as one of the largest pigment print paste
and printing paste manufacturers in Taiwan.
*Reputation*
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Reference checking for the purpose of establishing the
firm's reputation within the respective industry failed to reveal any negative
information.
Web
site: www.jincolor.com.tw SC’s website is unable to be landed at
present for the technical reason.
Email : sales@jincolor.com.tw
For the past 7 years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders : 4
Shareholders' Name No. of Shares
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Mr. Howard Hua-yang Chang 638,011
Mr. Chih-hung Chen 432,707
Mr. Mao-kung Chou 325,954
Mr. Kuei-hsing Wu
216,354
Management : Ms. Joanne Mao-chiu Kuo, Manager
Name Nationality Job Description
Ms. Joanne Mao-chiu Kuo Taiwanese Manager (Sales)
*Key Personnel*
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Mr. Howard Hua-yang Chang
Founder :
Co- founder
Age :
42 years
Work experience
: More than 10 years
Responsibilities
: Handles the daily operation of
the firm including all financials, sales and legal matters.
Resident status
: Taiwan
*Main Products & Services*
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Specializes in three main areas of work :
1. Import of chemical materials & related pigment resin
colors products.
2. Production of pigment print pastes and printing pastes incorporating
some of the raw materials
imported.
3. Export its finished products.
Products : Pigment print pastes
Printing paste
Chemical products
4-color purpose ink
All
purpose ink
Brand: JINBEST
JINPRINT
Jincolor
*Payment Terms*
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Sales
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Local : 30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : 30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
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The following
locally based companies supply similar range of products :
- DAH HSIN CHEMICAL & COLOR CO LTD
- RIKEN DYESTUFF & CHEMICAL CO LTD
- SIGMA PIGMENTS MFG CO LTD
- AFFILIATED DYESTUFFS & CHEMICALS INC
- ATLANTIC DYES & CHEMICAL CO LTD
- TANG ENG PAINT CO LTD
- TITAN PAINT CO LTD
*Detailed Product Specifications*
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Product
Brand
Applications
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Pigment resin color JINBEST
COLOR - Printing natural fabrics and synthetic fabric such as
cotton, rayou,
polyester, acetate and others, as well as
their mixed or blended
fabrics
- Used for direct painting as well as for colored discharge and resist
printing. Recommended for padding also
- Series of aqueous colors in which pigments are pigments are
uniformly dispersed at high color
strength. When using, they reduced
with emulsion paste and binder to obtain
desired pigment printing
reducer.
- Excellent in resistance to Sunlight, washing and dry cleaning. Also
have excellent fastness to bleaching.
- Brilliant in shades and produce sharp clear printing.
Plastisol ink JINBEST
a. All purpose series
- Designed for printing on 100% cotton and
polyester-cotton white
fabrics
b. Photo-Tone Series
- Designed for direct, wet on wet printing, comprised of pure
transparent basic colors to be used to
produce 4-Color Press images
Synthetic thickener JINPRINT
PTA - Pigment printing
*Local Distribution Network*
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60% of the annual turnover is attributed to local sales to
dyeing factories.
*Export Markets*
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40% of the annual turnover is attributed to exports.
SC is not known to have any
subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES : 54
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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 Taiwan corporate law for public disclosure of
detailed financials.
*Bank Details*
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Bank name : CHANG HWA COMMERCIAL BANK
Branch
: Hsi Men
Swiftcode : CCBCTWTP
*Int´l Trade Activity
(Currency: U.S. $'s)
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Year
Imports Exports Total
2001
$385,983.75
$68,100.00 $454,083.75
2002
$761,997.70
$165,000.00 $926,997.70
2003
$893,310.27
$100,922.72 $994,232.99
2004
$700,000.00
$530,000.00 $1,230,000.00
2005
$520,000.00
$550,000.00 $1,070,000.00
*Financial Summary
(Currency: U.S. $'s)
===============================
Year Sales Assets Net Income
2003
$333,910.03 $519,031.14 $14,417.53
2005
$1,165,402.84 $549,763.03 $136,018.96
Over the past 7 years, SC has made a stable growth with
satisfactory profit. It is considered a credit line up to USD 50,000 appears to
be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Exporting
2800
Chemicals and Allied Products
Importing
2800 Chemicals and Allied Products
Manufacturing
2678
Stationery products
Manufacturing
2800
Chemicals and Allied Products
Manufacturing
2816
Inorganic pigments
Manufacturing
2893
Printing inks
Manufacturing
2899
Chemical preparations
Manufacturing
3069
Fabricated rubber products
Manufacturing
3089 Plastics products
Manufacturing
5112
Stationery & Office Supplies
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Exporting
3204900000 Synthetic organic coloring matter
Exporting
3800
Miscellaneous chemical products
Exporting 3823905050 Chemical products and
preparations of the chemical or allied industries
Importing 2921590000 Aromatic polyamines not
elsewhere specified or included and their
derivatives, salts
Importing
2924
Carboxyamide-function comp; amide-function com etc
Importing
3204140000
Direct dyes & preparations based thereon
Importing
3204170000
Pigments & preparations based thereon
Importing
3800
Miscellaneous chemical products
Manufacturing
3204170000
Pigments & preparations based thereon
Manufacturing
3204175000
Pigments and preparations based thereon
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturing
Aqueous waxes
Manufacturing
Colored glitters
Manufacturing
Discharge print paste
Manufacturing
Emulsifying agent
Manufacturing
Foaming pastes
Manufacturing
Heat transfer pastes
Manufacturing
Penetrate
Manufacturing
Paint products
Manufacturing
Organic pigment powders
Manufacturing
Nylon white pastes
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Bangladesh
Exporting to China
Exporting to Hong Kong
Exporting to Pakistan
Exporting to Philippines
Exporting to Thailand
Exporting to Turkey
Importing from Asia
Importing from China
Importing from India
Importing from Indonesia
Importing from Japan
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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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%)