MIRA
INFORM REPORT
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Report Date : |
14.06.2007 |
IDENTIFICATION DETAILS
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Name : |
FWU KUANG ENTERPRISES CO LTD |
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Registered Office : |
239, Lane 202, |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1978 |
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Com. Reg. No.: |
73632361 |
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Legal Form : |
Public Company |
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Line of Business : |
Manufacturers of Socket cap screw and Washers |
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 : |
Up To US$ 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
FWU KUANG ENTERPRISES CO LTD
239, LANE 202,CHUNG CHENG WEST RD ERH-HANG TSUN JENTE HSIANG TAINAN HSIEN 717, TAIWAN
TEL : 886-6-2663221
FAX : 886-6-2664465
EXECUTIVE SUMMARY
INCORPORATION DATE :
1978
REGISTRATION NO. :
73632361
LEGAL FORM :
PUBLIC COMPANY
CHIEF EXECUTIVE :
MR. YUN-TE CHANG (CHAIRMAN)
STAFF STRENGTH :
250
CAPITAL :
US$ 2,734,375
BUSINESS LINE :
MANUFACTURER
TURNOVER :
US$ 32,405,560.82 (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 :
FAIRLY GOOD
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 : 73632361
Date issued : 4 January,
1978
Issuing authority : Ministry of
Economic Affairs (MOEA)
*Company Name*
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Incorporated as : HEY PEE
INDUSTRIAL CO LTD
Date incorporation : 4 January,
1978
Changed name to : FWU KUANG
ENTERPRISES CO LTD
Date of change : N/A
*Auditors*
========
CLOCK & CO
Web
site: www.fke.com.tw The design is professional and the content
is well organized. At present it is both in Chinese and English versions.
Email : d1519146@ms29.hinet.net
For the past two years there is no record of litigation.
*OWNERSHIP*
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Chairman : Mr. Yun-Te Chang
Nationality : Taiwanese
Direct Parent : TUNG KUANG ENTERPRISES CO LTD
Country :
*Major Shareholders*
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Shareholders' Name
No. of Shares
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Mr. Kun-teh Hu 7,597
Mr. Yun-teh Chang 151
Mr. Lien-hui Lin 0
Mr. Hsien-lang Lin 0
Mr. Yao-lien Chen 0
*COMPANY MANAGEMENT*
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Name Nationality
Job Description
Mr. Yun-teh Chang Taiwanese
Manager
Mr. Kun-teh Hu Taiwanese
Vice General Manager
Products : Socket cap screw
Washers
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 2 OBTAINED SCORES : 78
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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 : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address : 10Fl,
SWIFT Code : FCBKTWTP
Bank Name : BANK OF OVERSEAS CHINESE
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : OCCBTWTP
*Financial Summary (Currency:
=================================
Year Sales Assets Net Income
2003 US$
18,224,769.32 US$ 19,526,441.75 US$ 708,708.19
2004 US$
25,624,060.15 US$ 24,360,902.26 US$ 2,249,924.81
2005 US$
32,405,560.82 US$ 26,281,232.23 US$ 2,133,586.10
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
1992 US$ 6,800,000.00 US$ 8,500,000.00 US$ 15,300,000.00
Over the past 29 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to US$ 1,000,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 3399 Primary
metal products
Manufacturing 3429 Hardware
Manufacturing 3452 Bolts,
nuts, screws, rivets, and washers
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 7106100000 Silver
powder
Manufacturing 7318110000 Coach
screws, threaded, of iron or steel
Manufacturing 8301100000 Padlocks
of base metal
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
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%)