MIRA
INFORM REPORT
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Report Date : |
14.06.2007 |
IDENTIFICATION DETAILS
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Name : |
TSIN YING METAL INDUSTRY CO LTD |
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Registered Office : |
2FL, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
October 8, 1979 |
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Com. Reg. No.: |
07659465 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Imports of stainless steel and other
related raw materials. Research and development of stainless steel processing and related
technology Manufacturing stainless and metal products. Exporting and domestic sales of
finished 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 US$ 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
TSIN YING METAL INDUSTRY CO LTD
2FL,
TEL : 886-2-25971183
FAX : 886-2-26371531
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 8, 1979
REGISTRATION NO. :
07659465
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR CHAO-JUNG HUANG (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 843,120
BUSINESS LINE :
MANUFACTURER
TURNOVER :
US$3,718,258.77 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.1098 = US$1 AS OF 2007-6-14
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 : 07659465
Date issued : 8 October,
1979
Issuing authority : Ministry of
Economic Affairs (MOEA)
*Licenses & Permits*
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License number : 99689993
Date issued : 1 January,
1968
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
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Size : 110 sq.
ft. (Approx.)
Location : Centra
Business District (CBD)
Property status : Owned by TSIN
YING METAL INDUSTRY CO LTD
Type of building : Commercial
building
*Corporate & Organization Structure*
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A medium sized specialized company operated and managed by an
experienced team of professionals.
*Factories, Size & Locations*
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Size : 2,152
sq. meters (Approx.)
Location :
Facilities : Modern
Property status : Owned by
TSIN YING METAL INDUSTRY CO LTD
Type of building : Industrial
building
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
Email : tyico@ms47.hinet.net
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name
No. of Shares
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Mr. Li-chu Lin 2,050
Mr. Su-chin Wu 1,554
Mr. Jung-chang Yu
1,160
Mr. Chao-jung Huang
960
Mr. Meng-chin Hsu 840
Ms. Hsin-chih Chang Chan
510
Mr. Liang-chung Chang
480
*COMPANY MANAGEMENT*
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Name Nationality
Job Description
Mr. Chao-jung Huang Taiwanese
General Manager
*Key Personnel*
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Mr. Chao-jung Huang
Founder : Co-founder
Resident status :
Work experience : More than 10
years
Responsibilities : Handles the
daily operation of the firm including all financial and legal matters.
*Main Products & Services*
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Specializes in four (4) main areas of work:
1. Imports of stainless steel and
other related raw materials.
2. Research and development of
stainless steel processing and related technology.
3. Manufacturing stainless and metal products.
4. Exporting and domestic sales of
finished products.
Products : Stainless steel
Stainless steel
wire netting
Stainless steel,
polished
Steel wire ropes
Steel bars
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic Transfer
(T/T)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic Transfer
(T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- CHIH KANG MATERIAL CO LTD
- DOTEC NEEDLE CO LTD
- MING TYAN IRON WORKS CO LTD
- TAIWAN HWA NAN ALUM CO LTD
- WIROP INDUSTRIAL CO LTD
*Local Distribution Network*
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24% of the annual turnover is attributed to local sales.
*Export Markets*
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76% of the annual turnover is attributed to export.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : LIH CHAN STEEL CO LTD
Address : 8Fl-2,
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Metals & Metal Products
PAYMENT RATING : 3 OBTAINED SCORES : 60
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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 : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : HNBKTWTP
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : TACBTWTP
As a private limited company with a paid-up capital of less than US$ 6 million,
there is no legal requirement according to local corporate law for public
disclosure of detailed financials.
Although financial summaries were obtained for reference.
*Financial Summary (Currency:
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Year Sales Assets Net Income
2006 US$3,718,258.77 US$2,267,230.96 US$161,124.55
*Int´l Trade Activity (Currency:
================================
Year Imports Exports Total
2004 US$1,500,000.00 US$400,000.00 US$1,900,000.00
2005 US$800,000.00 US$770,000.00 US$1,570,000.00
2006 US$2,500,000.00 US$790,000.00 US$3,290,000.00
SC is considered an old-established business in small size. It is considered
a credit line up to US$ 80,000appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 3325 Steel
Foundries, NEC
Manufacturing 3462 Iron
& steel forgings
Manufacturing 3499 Fabricated
metal products
Trading 3325 Steel
Foundries, NEC
Trading 3357 Nonferrous
metal wire and cable, drawn and insulated
Trading 3462 Iron
& steel forgings
Trading 3496 Fabricated
wire products
Trading 3499 Fabricated
metal products
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 7218 Stainless
steel in ingots etc & semifin products
Manufacturing 7222 Bars
& rods, st steel angles etc, stainless steel
Manufacturing 7312 Stranded
wire, ropes etc, no elec ins, iron or steel
Manufacturing 8300 Miscellaneous
articles of base metal
Trading 7218 Stainless
steel in ingots etc & semifin products
Trading 7223 Wire
of stainless steel
Trading 7312 Stranded
wire, ropes etc, no elec ins, iron or steel
Trading 8300 Miscellaneous
articles of base metal
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Trading Stainless steel wire
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
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%)