MIRA
INFORM REPORT
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Report Date : |
22.06.2007 |
IDENTIFICATION DETAILS
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Name : |
JING DUANN MACHINERY INDUSTRIAL CO LTD |
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Registered Office : |
66 |
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Country : |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
26.01.1981 |
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Com. Reg. No.: |
52614330 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Purchasing of main components and parts used for in-house production. Manufacturing and supplying range of forging related equipment and components. Export and local sales of forging machines manufactured by JDMCL. |
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 : |
US$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
JING DUANN MACHINERY INDUSTRIAL CO LTD
66
TEL: 886-4-23593698 FAX: 886-4-23593541
EXECUTIVE SUMMARY
INCORPORATION DATE : JANUARY 26, 1981
REGISTRATION NO. : 52614330
LEGAL FORM : PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE : MR. YUAN-HO CHEN (CHAIRMAN)
STAFF STRENGTH : 53
CAPITAL : US$ 1,204,456
BUSINESS LINE : MANUFACTURER
TURNOVER : N/A (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 33.1416 = US$1 AS OF 2007-6-19
*Company History*
===============
August 1978 - Founded and started manufacturing warm and hot forging press.
November 1979 - Introduced First C Type Press.
1982 - Launched H Series Cross Beam Pneumatic Forging Press.
1985 - Launched HCP High Speed Hot Forging Press.
1990 - Launched FP Forging Press.
1991 - Patent secured from Standardization Bureau of Economy Department for forging
machine structure improvement.
1992
- Square meter of factory was
bought in
production capabilities.
August 1993 - Trade mark registration achieved in
1994 - Launched LP series of press.
July 1998 - Launched JKP series of press.
- Applied for ISO9002 Certification.
2003
- Started new business
territory in Mainland
YONG FORGING CO LTD.
*Company Registration*
===================
License number : 52614330
Date issued : 26 January, 1981
Issuing authority : Ministry of Economic Affairs
Type of license : A company owned by shareholders, incorporated with limited liability and confirmed with
the respective Government authorities to legally exist.
*Licenses & Permits*
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License number : 99669450
Date issued : 5 November, 1992
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory License
License number : 99671819
Date issued : 1 April, 1983
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory License
*Office & Facilities*
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Size : 1,874 sq meters
Location :
Property status : Owned by JING DUANN MACHINERY INDUSTRIAL CO LTD
Type of building : Industrial
Comment : Serves as office and factory 1.
Other Contact Details
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Website : wwwjingduann.com.tw
E-mail address : jingduan@ms25.hinet.net
Previous Contact Details
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Tel no. : 4-23897437
Fax no . : 4-23896334
*Corporate & Organization Structure*
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A medium-sized company operated and managed by the owner and an experienced team of professionals.
*Factories, Size & Locations*
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Size : 86 sq meters
Location
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Property status : Rented
Type of building : Industrial
Comment : Serves as factory 2.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation within the respective industry failed to reveal any negative information.
Web site: www.jdmcl.com.tw The design is professional and the content is well organized. At present it is both in Chinese and English versions.
Email : jingduann@jdmcl.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name No. of Shares
Mr. Yuan-ho Chen 10,660
Mr. Lin-chang Lin 9,460
Ms. Hsiu-chih Lin 5,340
Ms. Hsiang-ching Chen 2,000
*COMPANY MANAGEMENT*
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Name Nationality Job Description Dept. / Division
Ms. Hsiang-ching Chen Taiwanese Manager Sales
Mr. Yuan-ho Chen Taiwanese President -
*Key Personnel*
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Mr. Yuan-ho Chen
Founder : Co-founder
Resident status :
Work experience : More than 20 years
Responsibilities : Handles the daily operation of the firm including all financial and legal matters.
*Main Products & Services*
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Specializes in the following areas of work :
1. Purchasing of main components and parts used for in-house production.
2. Manufacturing and supplying range of forging related equipment and components.
3. Export and local sales of forging machines manufactured by JDMCL.
Products also include :
- JKP Knuckle Join Cold Forging Press
- Cross-Shaft-type Forging Presses
Products :
Cast iron parts
Forging machines
Camshafts
Gray iron
Cold press
*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 :
- ROUNDTOP MACHINERY INDUSTRIES CO LTD
- CHOICE LITHOGRAPH INC
- ACTION MACHINERY INDUSTRY CO LTD
- GOOD HARVEST MACHINERY INDUSTRIAL CO LTD
- HEXAGON ELECTRIC INDUSTRIAL CO LTD
*Associations*
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Member of the following associations :
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- Forging Association ROC
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- Industrial Technology Research Institute
*Awards*
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Award : Excellence Award
Awarded by : Forging Association of ROC
Date : November 1993
*Quality Certification*
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Achieved the following certifications :
Type of certification : ISO 9001
Year : 1999
Type of certification : ISO 9001
Year : 2001
Details : For design, development and service qualities.
*Local Distribution Network*
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Approximately 10% of the annual turnover is attributed to local sales.
*Domestic Raw Materials Suppliers*
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Supplier's name : HSIN LIEN MACHINERY PARTS CO LTD
Material/components : Machinery parts
*Export Markets*
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Approximately 90% of the annual turnover is attributed to
export.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : JINK YII ENTERPRISE CO LTD
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Machinery
PAYMENT RATING :3 OBTAINED SCORES : 62
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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*
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Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch :
Central Dist,
Branch Address :
SWIFT Code : CCBCTWTP
Bank Name : TAIWAN BUSINESS BANK
Branch :
Tatung Dist,
Branch Address :
Min Chen,
SWIFT Code : MBBTTWTP
As a private limited company with a paid-up capital of less
than US$ 6 million, there is no legal requirement according to
*Int´l Trade Activity
(Currency:
================================
Year Imports Exports Total
2004 US$ 325,000.00 US$ 6,934,000.00 US$ 7,259,000.00
2005 US$ 178,000.00 US$ 7,121,000.00 US$ 7,299,000.00
2006 US$ 473,000.00 US$ 6,827,000.00 US$ 7,300,000.00
SC is considered an old-established business in small size. It is considered a credit line up to US$ 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
Manufacturing 3500 Industrial Machinery &
Equipment
Manufacturing 3542 Machine tools metal-forming, and
parts
Manufacturing 3549 Metalworking machinery
Manufacturing 3600 Electronic & Electric Equip.
Trading 3544
Special dies, tools, jigs,
and fixtures
Trading 3545
Machine tool accessories,
and parts
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8419891000
Industrial machinery, plant or
equipment for making paper pulp, paper or
paperboard,
involving a change in temperature
Exporting 8461900010
Machine tools working by removing
metal, used or rebuilt
Exporting 8462100010
Forging or die-stamping machines
(including presses) and hammers, metal
forming,
used or rebuilt
Exporting 8462990010
Machine tools (including presses)
working by forming metal, used or rebuilt
Exporting 8466931030
Cast-iron parts not advanced &
machined only for the removal of fins, gates, etc,
for
metalworking machine tools for cut, grind or finishing gears
Importing 8462990010
Machine tools (including presses)
working by forming metal, used or rebuilt
Importing 8483101010
Camshafts and crankshafts for
motorcycles with spark-ignition internal
combustion
piston engines or rotary engines
Importing 8483504000
Gray-iron awning or tackle pulleys,
not over 6.4 cm in wheel diameter
Manufacturing 8462 Machine tools for forging,
bending, stamping etc
Manufacturing 8462100010
Forging or die-stamping machines
(including presses) and hammers, metal
forming, used or rebuilt
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturing Cross
shaft press
Manufacturing Forging
press equipment
Manufacturing High
speed presses
Manufacturing Presses
cold forging
Manufacturing Whole-plant
equipment
Manufacturing Trimming
machine
Manufacturing Pneumatic
presses
Manufacturing Forming
machine
Manufacturing Electronic
products
Manufacturing Feeding
machines
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
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%)