MIRA
INFORM REPORT
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Report Date : |
30.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
KING'S METAL FIBER TECHNOLOGIES CO LTD |
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Registered Office : |
8FL, 426 Lin Sen North Rd Chungshan Dist Taipei City 104 |
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Country : |
Taiwan |
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Date of Incorporation : |
April 17, 2001 |
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Com. Reg. No.: |
12854740 |
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Legal Form : |
Private |
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Line of Business : |
Research and development of various textile products. Importing a wide range of chemical raw materials. Manufacturing and supplying range of various types textile products
and fabrics which can be applied in the fields of anti-static, electrically
conductive, anti-radiation (microwave), acoustic, thermal resistance,
filtration and fashion. Export and local sales of its products. |
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 USD 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
KING'S METAL FIBER TECHNOLOGIES CO LTD
8FL, 426 LIN SEN NORTH RD CHUNGSHAN DIST TAIPEI CITY 104, TAIWAN
TEL 886-2-25210298
FAX 886-2-25811922
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 17, 2001
REGISTRATION NO. :
12854740
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHIN-MU HSIAO (CHAIRMAN)
STAFF STRENGTH :
41
CAPITAL :
US$ 3,198,552
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 150,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.25850 = 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 –Taiwan New Dollars
*Capital Details*
============
Authorized capital : NTD 106,000,000.00
Paid-up capital : NTD
101,000,000.00
*Licenses & Permits*
================
License number : 99634436
Date issued : 8 January, 2002
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
===============
Size : 285
sq. meters (Approx.)
Location : Central Business District (CBD)
Property status : Rented
Previous Contact Details
---------------------------------
Addresses : - 39 Wu
Chuan 6th Rd Taipei Hsien 248 Taiwan
- 6Fl, 60 Min Tzu East Rd Taipei City 104 Taiwan
Tel. no. :
2-22900527
Fax no. :
2-89904072
*Factories, Size & Locations*
======================
Size : 1,479
sq. meters (Approx.)
Location : Taichung
Hsien
Property status : Rented
Type of building :
Industrial
*Corporate & Organization Structure*
=============================
A medium-sized company mainly operated and managed by the owner of the
firm.
*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.kingsfiber.com the design is
professional and the content is well organized. At present it is in English
version.
E-mail: kingtex@texray.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholder's Name No. of Shares
-------------------------- ------------------
TEX-RAY INDUSTRIAL CO LTD 7,204,154
Management: Mr. Chin-mu Hsiao,
Manager
Mr. Rocky Chang, Honorary President
Name Nationality
Job Description Dept. / Division
Mr. Chin-mu Hsiao Taiwanese
Manager Sales
Mr. Rocky Chang Taiwanese
Honorary President -
*Key Personnel*
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Mr. Chin-mu Hsiao
Resident status : Taiwan
Founder :
Co-Founder
Work experience : More than 5
years
Responsibilities : Handles the
daily operation of the firm including all financial and legal matters.
*Main Products & Services*
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Specializes in the following areas of work:
1. Research and development of various textile products.
2. Importing a wide range of chemical raw materials.
3. Manufacturing and supplying range of various types textile products
and fabrics which can be applied in the fields of anti-static, electrically
conductive, anti-radiation (microwave), acoustic, thermal resistance,
filtration and fashion.
4. Export and local sales of its products.
Products: Anti-radiation fabrics
Anti-static
fabrics
Conductive
materials
Heat-resistant
fabrics
Industrial textile
products
*Payment Terms*
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Sales
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Local : 30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
*Competitors*
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The following locally based companies supply similar range of products :
- FOUR UNION CORP
- HAO JEY CO LTD
- EVA CREST ENTERPRISE CO LTD
- BRIMADONA INDUSTRIAL CO LTD
- ALDRIN ENTERPRISE CO LTD
*Local Distribution Network*
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An estimated 33% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 77% of the annual turnover is attributed to export.
*Strategic Partners & Alliances*
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Group/Alliance name: TEX-RAY GROUP
PAYMENT
RATING : 3 OBTAINED SCORES :
64
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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.
Although, financial summaries were obtained for reference.
*Bank Details*
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Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist, Taichung City
Branch Address : 38 Tzu Yu Rd Section 2 Central Dist Taichung City 400
(Head Office)
SWIFT Code : CCBCTWTP
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist, Taipei City
Branch Address : 77 Kuan Chien Rd Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code : TACBTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2006 $2,336,759.37 $1,239,419.59 $205,562.27
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2004 $50,000.00 $700,000.00 $750,000.00
2005 n/a $1,300,000.00
$1,300,000.00
2006 n/a $1,800,000.00
$1,800,000.00
SC is considered small-sized in its line with 6 year development
history. Taking into consideration of SC’s general performance, a credit line
up to USD 150,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2300 Apparel/Other
Textile Products
Exporting 2399 Fabricated
textile products,
Manufacturing 2299 Textile
goods,
Manufacturing 2300 Apparel/Other
Textile Products
Manufacturing 2399 Fabricated
textile products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7314 Cloth,
grill etc iron or steel; expand metal, iron or steel
Exporting 7314140000 Other products of woven stainless steel cloth
Exporting 7326 Articles
of iron or steel
Manufacturing 5515 Woven
fabrics of synthetic staple fibers
Manufacturing 5911 Textile
products etc. for specific tech uses
Manufacturing 6812400000 Asbestos
woven or knitted fabric
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Woven fabrics
Manufacturer Heat-resistant
fabrics
Manufacturer Anti-radiation
fabrics
Manufacturer Conductive
materials
Manufacturer Shielding
materials
Manufacturer Metallic
fibers
Manufacturer Metallic
yarns
Manufacturer Anti-static
fabrics
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to Czech Republic
Exporting to Europe
Exporting to France
Exporting to Germany
Exporting to Hong Kong
Exporting to India
Exporting to Italy
Exporting to Japan
Exporting to Malaysia
Exporting to North America
Exporting to Singapore
Exporting to South Korea
Exporting to USA
Exporting to United Kingdom
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. |
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%)