MIRA
INFORM REPORT
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Report Date : |
06.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SEN FUNG ROLL FORM MACHINERY
CORP |
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Registered Office : |
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Country : |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
26.04.1973 |
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Com. Reg. No.: |
31205859 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Manufacturing and exporting
of rolling machines and other industrial machinery |
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 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME & ADDRESS
SEN FUNG ROLLFORM MACHINERY
CORP
TEL: 886-2-26220000 FAX: 886-2-26252086
EXECUTIVE SUMMARY
INCORPORATION
DATE : APRIL 26,
1973
REGISTRATION
NO. :
31205859
LEGAL
FORM :
PRIVATE LIMITED COMPANY
CHIEF
EXECUTIVE :
MR. CHUN-NAN CHEN (CHAIRMAN)
STAFF
STRENGTH :
50
CAPITAL :
US$ 1,505,571
BUSINESS
LINE :
MANUFACTURER
TURNOVER : US $9,401,451.03 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : TWD
33.1154 = US$1 AS OF 2007-6-6
Established Year : 1963
Company Name
Incorporated as : SEN FUNG ENTERPRISE CO LTD
Date of incorporation : 26
April, 1973
Changed name to : SEN FUNG ROLLFORM MACHINERY CORP
Date of change : July 1998
Company
Registration
License number : 31205859
Date issued : 26 April, 1973
Issuing authority :
Ministry of Economic Affairs (MOEA)
Type of license : A company owned by shareholders,
incorporated with limited liability and confirmed with the respective
Government authorities to legally exist.
Licenses &
Permits
License number : 9961906100
Date issued : 12 August, 1995
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
License number : 9969412300
Date issued : 27 May, 2005
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
Office &
Facilities
Size : 1,282 sq. meters (Approx)
Location :
Facilities : Modern
Type of building : Industrial
building
Property status : Rented
Comment : Serves as office, factory and
warehouse.
Other Contact
Details
Fax no : 2-26252087
E-mail : senfung@ms2.hinet.net
; sales@senfung.com
Website : www.senfung.com.tw www.taiwanrollformer.com
Note
Although rented, the premises are owned by one of the company Directors,
who in turn rents the premises to SEN FUNG.
Corporate &
Organization Structure
A medium-sized company operated and managed by the owner and a
professional team of managers.
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.senfung.com The design is professional and the content is
well organized. At present it is in English version.
Email : services@senfung.com
For the past two
years there is no record of litigation.
Major Shareholders
Shareholders'
Name No. of
Shares
Mr. Chun-jung
Chen
1,017,836
Mr. Chun-nan
Chen
100,000
Mr. Sen-jung
Chuang 867,500
Ms. Shu-chu Chang 684,000
Name Nationality
Job Description
1 Ms. Elley Po-chieh
Chen Taiwanese Manager Sales
2 Ms. Annie Lu Taiwanese Representative
Key Personnel
Mr. Chun-nan Chen
Founder : Co-Founder
Resident status :
Work experience : More than 20 years
Responsibilities :
Handles the daily operation of the firm including all financial, sales and
legal matters.
Main Products & Services
Specializes in
manufacturing and exporting of rolling machines and other industrial machinery
that are used to produce the following products:
- Carbon steel pipes
- Stainless steel
pipes
- Light gauge steel
- Wall panel
- Steel deck
- Roofing corrugated
sheets
- Roofing tiles
- Flooring-decks
- C-channels
- Ceiling T-bars
- Partition beams
- Rolling shutters
- Steel rack
- Door frames
- Curtain tracks
- Bicycle rims
- Fluorescent lamps
covers & bases
- Steel pipes
- Other various
metal sheet building materials
Products also include:
- Fully automatic
"roofing tile" roll forming machine
- Fully automatic
"roofing corrugated sheet" roll forming machine
- Fully automatic
"new patent roof tile" roll forming machine
- Fully automatic
"partition beam" roll forming machine
- Fully automatic
"door frame" roll forming machine
- Fully automatic
"ceiling-bar" roll forming machine
- Automatic roofing
tile roll forming machine
- Automatic door
frame roll forming machine
Products : Cold rolled forming
machines
Cold
rolling machines
Cutting
machines
Metal
forming for shutter door
Metal
sheet forming machines
Brand: SEN
FUNG
Payment Terms
Sales
Local : Cash
30-60 days credit
Export : Letter of Credit (L/C) Telegraphic
Transfer (T/T)
Purchases
Local : Cash 30-60 days credit
Import : Letter of Credit (L/C) Telegraphic Transfer
(T/T)
Competitors
The following
locally based firms supply similar range of products:
- CHUN ZU MACHINERY
INDUSTRY CO LTD
- KUEI CHUAN
MACHINERY CO LTD
- CHEN FWA
INDUSTRIAL CO LTD
- DAH LIAN MACHINE
CO LTD
- MING YANG
MACHINERY CO LTD
Quality Certification
Type of
certification: CE
Associations
Member of: -
Exhibition Participation
Exhibition fair :
Dates attended : 19-23 March, 2002
Location :
Local Distribution Network
10% of the annual
turnover is attributed to local sales.
Domestic Customers
Supplies to all
major sheet metal processors in
Export Markets
90% of the annual
turnover is attributed to export worldwide.
(Subsidiaries,
Joint-ventures & Affiliates)
Company
Name : TAIWAN ROLL FORM
MACHINERY CORP
Address :
Country :
Relationship
: Affiliate
Legal
Form : Private Limited
Company
Company
Type : Manufacturer
Industry
: Machinery
PAYMENT RATING :3 OBTAINED SCORES : 70
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Rating Key |
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.
Bank Details
Maintains an account
in Tanshui branch of the following banks:
Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address : Tansui
SWIFT Code : BKTWTWTP
Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Branch Address : Tanshui
SWIFT Code : HNBKTWTP
Financials
As a private limited
company with a paid-up capital of less than USD 6 million, there is no legal
requirement according to local corporate law for public disclosure of detailed
financials.
Financial
Summary (Currency:
Year Sales Assets
Net Income
2006 $9,401,451.03 $2,841,596.13 $1,630,562.27
Int´l Trade Activity (Currency:
Year Imports Exports
Total
2004 $40,000.00 $6,350,000.00
$6,390,000.00
2005 $80,000.00 $6,400,000.00
$6,480,000.00
2006 $140,000.00 $6,400,000.00
$6,540,000.00
SC is considered an old-established
business with stable development trend. It is considered a credit line up to
USD 200,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3500
Industrial Machinery &
Equipment
Exporting 3541
Machine tools,
metal-cutting, and parts
Exporting 3542
Machine tools
metal-forming, and parts
Exporting 3548
Welding apparatus, and
parts
Exporting 3549
Metalworking machinery
Exporting 3569
General industrial
machinery and equipment, and parts
Exporting 5084
Industrial Machinery/Equip
Manufacturing 3500 Industrial Machinery &
Equipment
Manufacturing 3541 Machine tools, metal-cutting,
and parts
Manufacturing 3542 Machine tools metal-forming, and
parts
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 721890
Other semi-finished products
of stainless steel
Exporting 7228601000
Other bars and rods of tool steel
not high-speed steel
Exporting 8441300000
Machines for making cartons, boxes,
cases, tubes, drums or similar containers, other than by molding
Exporting 8455220000
Cold rolling mills except tube
rolling
Exporting 8455900000
Parts for metal rolling mills except
rolls for rolling mills
Exporting 8457
Machining centers, unit
const mach etc work metal
Exporting 8461504050
Sawing or cutting-off machines,
metal removing, numerically controlled, new
Exporting 8462
Machine tools for forging,
bending, stamping etc
Exporting 8462990060
Metal working presses, valued $3,025
and over
Exporting 8477510090
Machinery for molding or otherwise
forming inner tubes
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporting Roofing
machinery
Exporting Stamping
machines
Exporting Tube
making machine
Exporting Welding
machines
Exporting Tube
mills
Exporting Steel
pipe making machine
Exporting Stainless
steel
Exporting Roll
forming machinery
Exporting Metal
forming machinery
Exporting Machine
tools
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
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/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%)