MIRA
INFORM REPORT
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Report Date : |
19.07.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
2FL Hsinchu Science-Based Industrial Park |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
June 24, 1997 |
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Com. Reg. No.: |
84149982 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Research and development of PC cards and PC related equipment. Manufacturing and supplying range of PC related equipment and
components, such as DRAM, flash cards, and MP3. Exporting of goods manufacturing by BCM. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 10,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
2FL HSINCHU SCIENCE-BASED INDUSTRIAL PARK
TEL : 886-3-5641539
FAX : 886-3-5789502
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 24, 1997
REGISTRATION NO. :
84149982
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. TU-KUNG TSAI (CHAIRMAN)
STAFF STRENGTH :
450
CAPITAL :
US$ 72,598,615
BUSINESS LINE :
MANUFACTURER
TURNOVER :
$775,355,450.24 (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
ABOVE AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.1938 = US$1 AS OF 2007-5-8
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 : 84149982
Date issued : 24 June,
1997
Issuing authority : Ministry of
Economic Affairs (MOEA)
*Capital Details*
=============
Initial registered capital :
NTD 600,000,000.00, fully paid
Paid-up capital increase : NTD 2,411,000,000.00
*Office & Facilities*
================
Building size : 17,958.10
sq feet (Including 5 floors)
Location : Hsinchu
Science Based Industrial Park
Property status : Owned by
KINGSTON TECHNOLOGY FAR EAST CO
Type of building : Commercial
building
Comment : Serves as
office, R&D facilities and factory.
Other contact details
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Tel no : 3-5666751
Fax no : 3-5666891
E-mail :
ktcfe@ms25.hinet.net
technical_support@kingston.com.tw
*Corporate & Organization Structure*
=============================
A large-sized company mainly operated and managed by the owner of the
firm and a professional management team.
*Sales Ranking*
============
Details of Rank are as follows:
Year Rank
------ ------
1998 756
2000 235
2001 163
2002 108
*Industry Ranking*
================
Generally regarded as one of the Top 1000 Companies in Manufacturing
Industry of Taiwan.
Details of rank are as follows:
Year Rank
------- ---------
1999 223
2000 241
2004 166
2005 99
*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.kingston.com
Email : yvonne_ma@kingston.com.tw
For the past two years there is no record of litigation.
*Corporate Ownership*
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A 51% foreign-owned company.
*Major Shareholders*
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Shareholders' Name No of
Shares
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KINGSTON TECHNOLOGY CO INC n/a
Mr. Tu-kung Tsai
10
Mr. Da-wei Sun
10
Mr. John Chi-chuan Tu 10
Mr. Chien-hua Chen
10
*Directors Details*
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Personal Unique Identifier : MI01787089
Name : Mr. John Chi-chuan Tu
Nationality :
Personal Unique Identifier : MI01787108
Country :
Name : Mr. Tu-kung Tsai
Nationality :
Management : M/s. Chen-yi Yu, Executive
Mr.
Harrison Ko-min Hu, Manager
Mr.
Yung-ta Hsieh, General Manager
*COMPANY MANAGEMENT*
=========================
Name Nationality
Job Description Dept. / Division
M/s. Chen-yi Yu Taiwanese
Executive Human Resources
Mr. Harrison Ko-min Hu Taiwanese Manager Public
Relations
Mr. Yung-ta Hsieh Taiwanese
General Manager -
Mr. John Chi-chuan Tu Taiwanese
President -
Mr. David Sun Taiwanese
Vice President -
*Key Personnel*
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Mr. Tu-kung Tsai
Founder :
Co-founder
Work experience : More than 10
years.
Responsibilities : Daily
operation of the firm including all financial and legal matters
Ms. Chen-yi Yu
Tel no. : 3-5641539
Fax no. : 3-5785708
Email : simone_yu@kingston.com.tw
*Main Products & Services*
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Specializes in the following areas of work :
1. Research and development of PC
cards and PC related equipment.
2. Manufacturing and supplying
range of PC related equipment and components, such as DRAM, flash cards, and
MP3.
3. Exporting of goods
manufacturing by BCM.
The firm also manufactures both under it's own branding, as well as
accepts OEM and ODM orders.
Products : Electronic integrated circuits
Memory
modules
DRAM
IC (integrated
circuits)
Electrical
connectors
*Payment Terms*
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Sales
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Local : 30-60 days credit
Export : Letter of Credit (L/C)
Open Account (D/A)
with settlement using Telegraphic Transfer (T/T)
Purchases
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Local : 30-60 days credit
Import : Letter of Credit (L/C)
Open Account (D/A) with settlement
using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products
and services:
- ADVANCED FLASH MEMORY CARD TECHNOLOGY CO LTD
- ARCADYAN TECHNOLOGY CORP
- GMI TECHNOLOGY INC
- KINGMAX SEMICONDUCTOR INC
- PANRAM INT'L CORP
*Local Distribution Network*
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25% of the annual turnover is attributed to local sales.
*Export Markets*
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75% annual turnover is attributed to export.
*International Trade Ranking*
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The firm has been ranked among
Details of rank are as follows :
Year Rank
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1997 225
2005 40
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : POWERTECH TECHNOLOGY INC
Address :
Country :
Relationship : Affiliate
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Electronic Products & Components
PAYMENT RATING : 2 OBTAINED SCORES : 84
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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
FAIRLY LARGE amounts depending on individual judgement experience.
*Bank Details*
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Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist,
Branch Address :
SWIFT Code : CCBCTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungshan Dist,
Branch Address :
SWIFT Code : ICBCTWTP
Bank Name : LAND BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : LBOTTWTP
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*Financial Ratios*
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Year Shareholder's Return on Return on Return on Debt to
Equity
(NTDM) Sales (%) Asset (%) Equity(%) Assets(%)
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---------------- --------------- -------------
1998 225 1.36 2.02 6.67 69.68
2001 1082 - - - 58.13
2002 1509 - - - 59.77
2004 3190 - - - 29.32
*Financial Summary (Currency:
===============================
Year Sales Assets Net Income
1998 $40,740,740.74 $27,481,481.48 $555,555.56
2001 $187,811,955.89 $74,985,490.42 n/a
2002 $334,693,877.55 $107,818,338.60 n/a
2004 $550,827,067.67 $135,729,323.31 $22,977,443.61
2005 $775,355,450.24 $167,646,129.54 $181,990,521.33
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2003 $146,286,113.00 $352,652,825.84 $498,938,938.84
2004 $280,255,774.02 $427,067,669.17 $707,323,443.19
2005 $506,161,137.44 $559,241,706.16 $1,065,402,843.60
*TRADE STATISTICS (Currency:
=================================
Year Imports Exports Total
1997 $2,800,000.00 $4,400,000.00 $7,200,000.00
1998 $64,100,000.00
$32,900,000.00 $97,000,000.00
Over the past 10
years, SC has made a stable growth with satisfactory profit. It is considered
a credit line up to USD 10,000,000 appears to be within SC’s capacities.
Attached: trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3679 Electronic
components
Importing 2600 Paper
and allied Products
Importing 3569 General
industrial machinery and equipment, and parts
Importing 3672 Printed
circuit boards
Importing 3823 Industrial
instruments for measurement, display, and control of process variables;
and related products
Importing 3825 Instruments
for measuring and testing electricity and elect signals
Importing 3827 Optical
instruments, and parts
Manufacturing 3572 Computer
storage devices
Manufacturing 3575 Computer
terminals
Manufacturing 3651 Radio
& TV receiving sets; phonographs; recorders; microphones; loudspeakers;
audio
amplifiers; & other audio equip
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7326901000 Other
articles of tinplate (not household)
Exporting 8473300000 Parts
and accessories for automatic data processing machines and units
Exporting 8523900000 Unrecorded
magnetic media
Exporting 8534000020 Printed
circuits having a base of plastic impregnated with glass consisting of 3 or
more
layers of conducting materials
Exporting 8542 Electronic
integrated circuits & microassembly, parts
Exporting 8542110032 Integrated
circuits, monolitic, digital, metal oxide semiconductor (mos) memory,
read-write
random access (ram) >40k bt=<80k
Importing 3926901000 Buckets
& pails, of plastic
Importing 4821100000 Paper
and paperboard labels of all kinds, printed
Importing 8419891000 Industrial
machinery, plant or equipment for making paper pulp, paper or
paperboard,
involving a change in temperature
Importing 8419901000 Parts
of instantaneous or storage water heaters
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Importing Industrial machinery
Importing Memory modules
Importing Optical devices
Importing Plastic buckets
Importing Storage water heater parts
Importing Semiconductor measuring equip
Importing Plastic pails
Importing Paper products
Manufacturing Computer components
Manufacturing DRAM cards
INTERNATIONAL TRADE : ACTIVITY & MARKETS
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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%)