MIRA
INFORM REPORT
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Report Date : |
27th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
KAFATEX INDUSTRIAL INC |
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Registered Office : |
14fl, 268 Wen Hua Rd Section 1 Panchiao City, Taipei Hsien 220,
Taiwan. |
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Country : |
Taiwan |
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Date of Incorporation : |
26.06.1978 |
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Com. Reg. No.: |
30856360 |
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Legal Form : |
Private Company |
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Line of Business : |
Engaged in importing and domestic sales of chemical 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 : |
USD 15,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
KAFATEX INDUSTRIAL
INC
14FL, 268 WEN HUA RD SECTION 1 PANCHIAO CITY, TAIPEI HSIEN 220, TAIWAN
TEL : 886-2-22527121
FAX : 886-2-22527110
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 26, 1978
REGISTRATION NO. :
30856360
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. YUNG-SHENG KAO (CHAIRMAN)
STAFF STRENGTH :
7
CAPITAL :
US$ 551,302
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 15,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 32.93387 = US$1 AS OF 2007-2-27
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 : 30856360
Date issued : 26 June, 1978
Issuing authority : Ministry of Economic Affairs
(MOEA)
*Office & Facilities*
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Size : 219.8 sq. meters (Approx.)
Location : Taipei Hsien
Property status : Rented by KAFATEX INDUSTRIAL INC
Type of building : Commercial
building
Comment : Premises is shared with the following
affiliate companies :
- INMAX INDUSTRIAL CO LTD
-
WAVELIT INT'L CO LTD
-
ZIMI CHEMICALS CO LTD
*Corporate & Organization Structure*
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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.kafatex.com
the design is professional and the content is well organized. At present it is
in Chinese version.
E-mail: zimigp@tpts6.seed.net.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholder's Name %
of Shares
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Mr. Yung-sheng Kao
99.00
Undisclosed shareholder
1.00
Management: Mr. Yung-sheng Kao, General Manager
Name Nationality Job Description
Mr. Yung-sheng Kao Taiwanese General Manager -
*Key Personnel*
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Mr. Yung-sheng Kao
Founder : Sole-founder
Work experience : More than 25 years
Resident status : Taiwan
Responsibilities : Handles the daily operation of the firm
including all financials and legal matters.
*Main Products & Services*
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Specializes in importing and domestic sales of chemical products.
Products: Disodium carbonate
Hydrogen peroxide
Industrial
machinery
Industrial
chemicals
Disodium
carbonate
*Payment Terms*
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Sales
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Local : Cash, 30-60 days credit
Purchases
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Local : Cash, 30-90 days
credit
Imports : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products:
- AMETECO INDUSTRIES INC
- BIG KWER ENTERPRISE CORP
- CHARSON TRADING CO LTD
- ELANC CHEMICAL CO LTD
- FENG KAO INDUSTRIAL CO LTD
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales
only.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : HIFORCE
CHEMICALS CO LTD
Address : 6
Fu Hsin Rd Hukou Hsiang 303 Hsinchu Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Manufacturer
Industry :
Chemicals
Company Name : INMAX
INDUSTRIAL CO LTD
Address : 14Fl,
268 Wen Hua Rd Section 1 Panchiao City 220 Taipei Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Importer
Industry :
Chemicals
Company Name : WAVELIT
INT'L CO LTD
Address :
14Fl, 268 Wen Hua Rd Section 1 Panchiao City 220 Taipei Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type : Trader
Industry :
Chemicals
Company Name : ZIMI
CHEMICALS CO LTD
Address :
14Fl, 268 Wen Hua Rd Section 1 Panchiao City 220 Taipei Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type : Trader
Industry :
Chemicals
PAYMENT
RATING :3 OBTAINED SCORES :
56
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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.
*Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2003 $600,000.00 $0.00 $600,000.00
2004 $700,000.00 $0.00 $700,000.00
2005 $800,000.00 $0.00 $800,000.00
Over the past 29 years, SC has made a fairly stable growth. It is
considered a credit line up to USD 15,000 appears to be within SC’s capacities
upon a periodical review basis.
ATTACHED: TRADE REFERENCES
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2800 Chemicals
and Allied Products
Importing 2819 Industrial
inorganic chemicals,
Importing 2899 Chemical
preparations,
Importing 3569 General industrial machinery and
equipment, and parts,
Trading 2800 Chemicals
and Allied Products
Trading 2819 Industrial
inorganic chemicals
Trading 2899 Chemical
preparations,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2836200000 Disodium carbonate
Importing 2847000000 Hydrogen peroxide, whether or not solidified with urea
Importing 3800 Miscellaneous
chemical products
Importing 8479 Machines
etc having individual functions, parts
Trading 2836200000 Disodium
carbonate
Trading 2847000000 Hydrogen
peroxide, whether or not solidified with urea
Trading 3800 Miscellaneous
chemical products
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trading Hydrogen peroxide
Trading Industrial chemicals
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from Asia
Importing from China
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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions