MIRA
INFORM REPORT
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Report Date : |
22.08.2007 |
IDENTIFICATION DETAILS
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Name : |
JAN CHENG TECHNOLOGIES CO LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
April 14, 1980 |
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Com. Reg. No.: |
52593139 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Manufacturing and exporting of packaging machineries. Providing customer services. |
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 : |
Up To US$ 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
JAN CHENG TECHNOLOGIES CO LTD
361 JEN HUA RD
TEL : 886-4-24969922
FAX : 886-4-24969933
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 14, 1980
REGISTRATION NO. :
52593139
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MR. SAM SHENG-HUI YANG (CHAIRMAN)
STAFF STRENGTH :
60
CAPITAL :
US$ 453,172
BUSINESS LINE :
MANUFACTURE
& SERVICE
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.9675 = US$1 AS OF 2007-8-22
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 : 52593139
Date issued : 14 April,
1980
Issuing authority : Ministry of
Economic Affairs (MOEA)
*Company Name*
==============
Previous name : KAI FU LEE CO LTD
Changed name to : JAN
CHENG TECHNOLOGIES CO LTD
Date of change :
N/A
*Office & Facilities*
===============
Size : 4,143
sq. meters
Location :
Property status : Rented
Type of building : Mixed
industrial & commercial
Comments : Serves as
office, factory, warehouse and
Premise is also shared with the following :
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CVC TECHNOLOGIES INC
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KK POWER (
Other e-mail :
cvctech@ms31.hinet.net
*Corporate & Organization Structure*
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A small-sized specialized company operated and managed by the owner.
*Factories, Size & Locations*
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The company is a representative office focused on administration and
does not maintain any manufacturing facilities
*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.
Following is the information of SC’s related party CVC TECHNOLOGIES INC.
Web
site: www.cvcpharmapack.com
The design is professional and the
content is well organized. At present it is both in Chinese and English
version.
Email : marketing@cvcpharmapack.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name % of Shares
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Mr. Sam Sheng-hui Yang 99.00
Undisclosed Shareholder 1.00
*COMPANY MANAGEMENT*
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Name Nationality
Job Description Dept. / Division
Ms. Rachel Li-fen Lin Taiwanese
Manager Sales
Mr. Sam Sheng-hui Yang Taiwanese
President -
*Key Personnel*
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Mr. Sam Sheng-hui Yang
Founder : Sole
founder
Age : 60
years
Resident status :
Work experience : More than 25
years experience.
Responsibilities : Handles the daily operation of the
firm including all financials, sales and legal matters
Other
positions : CEO and Chairman CVC
TECHNOLOGIES INC and KK POWER (ASIA) CO LTD.
*Main Products & Services*
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Specializes in three (4) main areas of work :
1. Manufacturing and exporting of packaging machineries.
2. Providing customer services.
3. Purchasing raw materials for its affiliate companies' manufacturing
activities.
4. Engaging in providing administrative management services for the
related party CVC TECHNOLOGIES INC.
Products : Administrative management
Air wash bottle
cleaners
Automatic blister
car toner
Automatic check
weighers
Automatic shrink
bonder
*Competitors*
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The following locally based companies supply similar range of products:
1. KWANG DAH ENTERPRISES CO LTD
2. YNB SUPPLY (
3. BENISON & CO LTD
4. CHIEH HONG HARDWARE CO LTD
5. JIH CHENG MACHINERY MFG CO LTD
*Local Distribution Network*
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20% of the annual turnover is attributed to local sales.
*Domestic Raw Materials Suppliers*
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Major local suppliers includes :
- CVC TECHNOLOGIES INC
- KK POWER (
*Export Markets*
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80% of the annual turnover is attributed to export.
*International Trade Activity*
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Note : There are no international trade activities recorded for this
firm because all shipments to international customers are executed and managed
via the related party CVC TECHNOLOGIES INC.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : CVC TECHNOLOGIES INC
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Machinery
Company Name : KK POWER (
Address : 14Fl-B2,
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Computer & Information Products
PAYMENT RATING : 3 OBTAINED SCORES : 58
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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.
*Bank Details*
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Bank Name : TAICHUNG COMMERCIAL BANK CO LTD
Branch : Central Dist,
Branch Address :
SWIFT Code : TCBBTWTH
As a private limited company with a paid-up capital of less than USD6
million, there is no legal requirement according to local corporate law for
public disclosure of detailed financials.
Note : The company actually is just an administrative coordination
office used for the related party of CVC TECHNOLOGIES INC. Hence financials for
the company do not reflect those business activities.
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2003 US$ 1,000,000.00 US$ 4,500,000.00 US$ 5,500,000.00
2004 US$ 600,000.00 US$ 5,000,000.00 US$ 5,600,000.00
2005 US$ 50,000.00 US$ 200,000.00 US$ 250,000.00
SC is considered medium-sized in its line with a long operating history.
A credit line up to US$ 50,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3053 Gaskets,
packing, and sealing devices
Exporting 3500 Industrial
Machinery & Equipment
Exporting 3565 Packaging
machinery, and parts
Manufacturing 3053 Gaskets,
packing, and sealing devices
Manufacturing 3500 Industrial
Machinery & Equipment
Manufacturing 3565 Packaging
machinery, and parts
Service 8741 Management
Services
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8422 Machines,
dishwash, clean etc cont & fill, pak etc
Exporting 8422200000 Machinery
for cleaning or drying bottles or other containers
Exporting 8422309050 Vacuum
or gas packaging machines which perform only operations of capping,
lidding,
sealing or closing
Exporting 8422309060 Machines
which perform only operations of capping, lidding, sealing or closing
Exporting 8422309070 Machines
for filling, closing, sealing, capsuling or labeling bottles, cans or similar
containers
Exporting 8422309080 Machines
for opening, filling and closing bags
Exporting 8422309090 Machinery
for filling, closing, sealing, capsuling or labeling boxes, bags or similar
containers
Exporting 8422409080 Packing
or wrapping machinery
Manufacturing 8422 Machines,
dishwash, clean etc cont & fill, pak etc
Manufacturing 8422200000 Machinery
for cleaning or drying bottles or other containers
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Exporter Cartoners
Exporter Cotton
inserters
Exporter Desiccant
inserters
Exporter Filling
machines
Exporter Tablet/capsule
counting line
Exporter Tablet/capsule
counters
Exporter Tablet
deduster
Exporter Shrink sleeve
applicator
Exporter Paper
folders
Exporter Labeling
systems
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
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. |
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%)