MIRA
INFORM REPORT
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Report Date : |
22.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CHIN FONG MACHINE INDUSTRIAL CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
February 23, 1965 |
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Com. Reg. No.: |
58303609 |
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Legal Form : |
Public Company |
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Line of Business : |
Manufacture and export of machinery. Importation of machine parts. Engages in made-to-order and assemble-to-order. Design, manufacture & sales of major types of mechanical presses. |
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 USD 2,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
CHIN FONG MACHINE INDUSTRIAL CO LTD
186 CHANG SHUI RD
TEL : 886-4-7524131
FAX : 886-4-7611920
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 23, 1965
REGISTRATION NO. :
58303609
LEGAL FORM :
PUBLIC COMPANY
CHIEF EXECUTIVE : MR. MING-CHE CHI (CHAIRMAN)
STAFF STRENGTH :
680
CAPITAL :
US$ 57,211,683
BUSINESS LINE :
IMPORTER
TURNOVER :
TWD 3,258,374,000 (AS OF DEC. 31, 2006)
EQUITIES :
TWD 1,876,408,000 (AS OF DEC. 31, 2006)
PAYMENT :
ABOVE AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
EXCELLENT
EXCHANGE RATE :
TWD 32.77030 = US$1 AS OF 2007-6-22
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 : 58303609
Date issued : 23 February,
1965
Issuing Authority : Ministry of Economic Affairs (MOEA)
*Company History*
================
1999 -
The Securities & Futures Institute permitted Chin Fong published the
company stock subsidize.
- Industry Development Bureau of Economic
Affairs Ministry sponsored for the company's
developing P F2-300, Straight Side Precision
9-Bar Link Drive Net Shape Forming Press.
2000 - The Group started the expansion for Chang
Ping Plant I.
*Office & Facilities*
===============
Size :
2,500 sq meters (Appox)
Location :
ChuangHua Hsien
Property status : Owned
Type of building :
Comments : Serves
as office and factory.
Other e-mail address : tr116@ms.chinfong.com.tw
t0357@chinfong.com.tw
tr005@chinfong.com.tw
fn800@chinfong.com.tw
rock@chinfong.com.tw
*Factories, Size & Locations*
=======================
Factory 1
-------------
No. of workers : 350 (Appox)
Type of building : Manufacturer
Building size : 11,500 sq. meters
Land size : 20,000 sq.
meters
Location :
Fu Hsien Factory
-----------------------
No of workers : 33
Type of building : Manufacturer
Building size : 2,780 sq. meters
Land size : 2,780 sq.
meters
Location :
Chang Pin Factory
----------------------------
Type of building : Manufacturer
Building size : 8,050 sq. meters
Land size : 10,100 sq.
meters
*Corporate & Organization Structure*
=============================
Organization and management of the company is divided into :
- R&D Department
- CAD/CAM (Computer Aided Design/Manufacturing) Research Department
*Licenses & Permits*
================
(1)
License number : 9964535100
Date issued : 22
January,1974
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 9964535000
Date issued : 20
August,1993
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(3)
License number : 9964568600
Date issued : 16
October,2001
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(4)
License number : 9967909800
Date issued : 2 June,2003
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(5)
License number : 9970374100
Date issued : 31 July,2006
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Capital Details*
============
Initial registered capital : NTD
500,000.00
Registered capital : NTD
1,900,000,000.00
Capital increases as follows:
Year
Increase (NTD)
-------
---------------------
1967
2,000,000.00
1977 40,000,000.00
1978
50,000,000.00
1980
100,000,000.00
1982
150,000,000.00
1987
170,000,000.00
1997
195,000,000.00
1999
587,500,000.00
2000
940,000,000.00
2001
1,109,200,000.00
2002
1,197,936,000.00
2003
1,293,700,880.00
2004
1,499,334,000.00
Paid-up capital : NTD
1,499,334,000.00
*Registrar*
=========
- TAIWAN INT'L SECURITIES CORP
*Industry Ranking*
===============
- Generally regarded as one of the top 1000 companies in manufacturing
industry of
- Ranked among
Details of rank are as follow :
Year Rank
------ -------
2005 416
2006 451
*Sales Ranking*
=============
Details of rank are as follow :
Year Rank
------ -------
1992 651
1996 457
1997 441
1998 472
2000 462
2001 561
2002 522
2006 486
*Accountants*
============
- ARTHUR ANDERSEN
- PRICEWATERHOUS COOPERS
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
The firm maintains an excellent local reputation within the machinery
industry.
www.chinfong.com.tw The design is
professional and the content is well organized. At present it is in both
Chinese and English versions.
E-mail: sales@chinfong.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Shareholders' Name
No. of Shares
--------------------------
------------------
Mr. Tsung-chin Shen
2,142,413
Mr. Ching-chun Lin
1,836,950
Mr. Ming-che Chi
1,705,978
Mr. Shu-yu Chi
876,836
NIEN YI MACHINE CO LTD 100,000
Mr. Chia-ming Hsu
25,235
Mr. Kun-hsiung Shih
25,235
Mr. Tung-lung Tsai 9,072
Mr. Tzu-yen Chao
4,536
Mr. Tai-yang Lu
-
Mr. Ting-kuo Chen
Management: Mr. Kai-feng Chao,
Manager
Mr. Wei-kang Cheng, Manager
Mr. Yi-mei Cheng, Manager
Name Nationality
Job Description
Mr. Kai-feng Chao Taiwanese
Manager Administration
Mr. Wei-kang Cheng Taiwanese
Manager Administration
Mr. Yi-mei Cheng Taiwanese
Manager Audit
Mr. Chih-tung Lai Taiwanese
Manager Finance
Mr. Kai-feng Hsiao Taiwanese
Manager Finance
Mr. Chin-ho Hsu Taiwanese
Manager Operations
Mr. An-cheng Tang Taiwanese
Manager Production
Mr. Jui-chu Chen Taiwanese
Manager Purchasing
Mr. Chung-yi Chang Taiwanese
Manager Quality Control
Mr. Chun-liang Lin Taiwanese
Manager R&D
Mr. Han-jung Cheng Taiwanese
Manager Sales
Mr. Yi-hua Lo Taiwanese
Assist. General Manager -
Mr. Su-sheng Lin Taiwanese
Department Head -
Mr. Tung-lung Tsai Taiwanese
General Manager -
Mr. Tzu-yen Chao Taiwanese
General Manager -
Mr. Ming-che Chi Taiwanese
President -
Mr. Charles Chien-Huai Chi Taiwanese
Vice Chairman -
Mr. Nan-li Wang Taiwanese
Vice General Manager -
Mr. Shu-hsing Chi Taiwanese
Vice General Manager -
Mr. Tu-chih Wang Taiwanese
Vice General Manager -
*Key Personnel*
==============
(1)
Mr. Chin-piao Chi
Founder :
Co-founder
Age : 79
years
Born : 4
November, 1924
Work experience : More than 40 years
Responsibilities : Daily
operation of the firm including all financial and legal matters.
Resident status :
Other Positions : - Chairman,
CHIN FONG GROUP CORP
-
Counselor,
- Director, CHINESE MECHANICAL
ENGINEERING ASSOCIATION
-
Director, AUTOMATION ASSOCIATION
-
Chairman, CHIN FONG BUDDHISM FOUNDATION
Former position : Chairman
Replaced by : Ming-che Chi
(2)
Charles Chien-huai Chi
Other Position : Vice Chairman, CHIN FONG GROUP CORP
Chairman, SUMMER FORGING INDUSTRIES CO LTD
Supervisor, Classmate Club of
Director, Classmate Club of
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Manufacture and export of
machinery.
2. Importation of machine parts.
3. Engages in made-to-order and
assemble-to-order.
4. Design, manufacture &
sales of major types of mechanical presses.
Product also include the following :
- Knuckle joint cold forging press
- S4-500/1000 ton 4-point, straight side, single action, eccentric gear
drive tandem press line
- Straight side double crank press
- OCP-160N+FG4-40 160-ton open back compact power press
- Open-back compact power presses with servo-driving robotic arms
- Straight side, top drive, two-point crankless presses
- Straight-side two-point transfer pressing machines
- Knuckle-type forging machines
- OCP-services pressing machines
Products: Industrial machinery
Photo sensor
Switches
Brakes
CD double crank presses
*Brand*
======
CF
CHIN FONG
*Payment Terms*
=============
Sales
------
Local : Cash or Credit Card
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Purchase
-------------
Local : 30 - 90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
*Quality Certification*
=================
(1)
Type of certification : First Class of Products Quality Inspection
System
Issuing authority : Merchandise
Inspection Bureau of the Economic Ministry of ROC
Date of certification : April
1978
(2)
Type of certification : Mark Quality of ROC
Date of certification : November
1981
Details :
Qualification for "Chin Fong" brand Mechanical Power Crank Press
(3)
Type of certification : ISO 9000
Date of certification : September
1992
(4)
Type of certification : ISO 9001 / EN 29001 / BS5750 Pt1
Issuing authority : SGS
YARSLEY INT'L CERTIFICATION SERVICES LTD
Date of certification : April
1994
(5)
Type of certification : ISO 9001
Issuing authority : British
NACCB
Date of certification : May 1994
(6)
Type of certification : ISO 9001:1994
Date of certification : June 1995
Details :
Re-approval
(7)
Type of certification : ISO 9002
Year of certification : 1996
(8)
Type of certification : N/A
Registration number : 005
Issuing authority : National
Accreditation of Certification Bodies
(9)
Also received CE approval.
*Production Capacity*
==================
Year : 2002
Item :
Punching machine
Maximum Capacity : 2,100 pcs
Current Capacity : 1,830
pcs
*Awards*
========
(1)
Award : Award of
Industrial Design
Year : 1975
Details : Award for
Desktop HIgh Speed Precision Press Model BPD-3
(2)
Award : Symbol of
Excellence
Year : 1993
Details : Award for
Crankless Press
(3)
Award : Excellence of
Labor Award
Awarded by : Executive Yuan-Labor
Affairs Department
Year : 1994
(4)
Award : Prominent of
Forging Technological Development for F2-1600
Awarded by : Forging Association
ROC
Year : 2000
(5)
Award : Award for
Industrial Technology Advancement
Awarded by : Ministry of
Economic Affairs ROC
Year : 2001
*Detailed Product Specifications*
==========================
(1)
Product
: OCP C-Frame Single Crank Power
Presses
Specification : Open back single crank from 25~260 tons
Outstanding features: - The heavy
steel frame of the OCP is designed to minimize deflection and assure
high accuracy.
- Long slide guides located at the F-B centerline of the slide control
parallelism and
increase die life and part accuracy.
- Drive gears are precisely
ground to control backlash and reduce noise.
Gear noise is
nearly 30% lower than other C-frame presses.
- High performance clutch/brake stops the slide in 100ms under normal
operation
condition. Provisions made for
easy addition of automation equipment, such as coil
feeds, and press-to-press transfers.
Applications : - General stamping operations, such as
blanking, forming and bending metal.
- Well suited for manual, hand-fed operations ,coil-fed progressive dies
or automated
press-to-press
transfer operations.
- Easily adapted to quick-die-change.
(2)
Product
: G1 C-Frame Single Crank Power
Presses
Specification : Open back single crank from 80~200 tons
Outstanding features: - The heavy
steel frame of the G1 Series is designed to minimize deflection and assure
high accuracy, while long slide guides located at the F-B centerline of
the slide control
parallelism and increase die life and part accuracy.
- High performance clutch/brake stops the slide quickly under normal
operating
conditions, and the drive gears on the
G1 are precisely ground to control backlash
and reduce noise. Gear noise is nearly 30% lower than other C-frame
presses.
- The G1 Series provides for easy addition of automation equipment, such
as coil feeds,
and press-to-press transfers.
Applications : - The G1 is well suited for manual, hand-fed
operations, coil-fed progressive dies or
automated press-to-press transfer operations.
- It performs very well in a wide range of universal stamping
applications, such as
blanking, forming and bending
metal.
- The G1 is also easily adapted to quick-die-change.
(3)
Product
: G2 C-Frame Double Crank Power
Presses
Specification : Open back double cranks from 110~250 tons
Outstanding features: - The heavy
steel frame of the G2 ensures highest rigidity.
- Extra-long, six-point ribs located at the F-B centerline of the slide
resist tensional
forces of the slide during the
stroke, improving accuracy and die life.
- Drive gears are precisely ground to control backlash and reduce noise.
- High torque clutch/brake stops the slide in 100ms under normal
operation conditions.
- Provisions made for easy addition of automation equipment, such as
coil feeds, and
press-to-press transfers.
Applications : - Universal stamping operations, such as
blanking, forming and bending metal.
- Well suited for secondary operations, coil-fed progressive dies or
automated
in-press transfer operations.
- Easily adapted to quick-die-change.
(4)
Product
: STSSTD Straightside High Speed
Presses
Specification : Single or double crank, Straight side high
speed from 200~600 tons
Outstanding features: - CHIN FONG
STS/STD-series presses in heavy duty version are designed for blanking,
drawing, trimming, piercing, forming of relatively thick metal parts in
automobile,
motorcycle & furniture fixtures such as brackets, rails &
hinges.
- The press frame is designed in either one piece or four separate
members with rod
hydraulically pre-stressed with
nuts. The double geared and twin-end
driven
configuration ensures smaller frame deflection in heavy stamping.
- The hydraulic overload protection is provided as standard to
effectively protect the
machine and toolings from overloading.
(5)
Product
: STSSTD Straightside High Speed
Presses
Specification : Single or double crank, Straight side high
speed from 200~600 tons
Outstanding features: - CHIN FONG
STS/STD-series presses in heavy duty version are designed for blanking,
drawing, trimming, piercing, forming of relatively thick metal parts in
automobile,
motorcycle & furniture fixtures such as brackets, rails &
hinges.
- The press frame is designed in either one piece or four separate members
with rod
hydraulically pre-stressed with nuts.
The double geared and twin-end driven
configuration ensures smaller frame deflection in heavy stamping.
- The hydraulic overload
protection is provided as standard to effectively protect the
machine and toolings from overloading.
(6)
Product
: GTX Straight Side Double Crank Presses
Specification : Straight side, double crank from 160~300 tons
Outstanding features: High Rigid
Frame
- GTX series frame is built of high quality tension steel fabrication in
straight-sided
mono-bloc
construction as a solution to reduce frame deflection found in gap frame
presses. High precision stampings and prolonged tools life can therefore
be ensured.
Optimal Versatility
for Various Automations
- Wide bed and side opening provide press users with flexibility in
selecting wide range
of automations.
Low Noise & Vibrations
- Wet clutch/brake is incorporated to lower vibration & noise in
order to give press
operators a bit friendly environment to work with.
Improvement on Press Room Productivity
- Thanks to the unique frame configuration, die space area can be
accessed from
front/rear for tools change and
parts transports without difficulties. Hence,
productivity can be improved.
(7)
Product
: S2/S4 Straight Side
Specification : Tandem press line, Eccentric gears, moving
bolster from 400~1500 tons
Outstanding features: - Large bed
and slide area, with the slide supported by four connections.
- Plunger guides on each
connection control side thrust of the connections,
providing accurate slide tracking throughout the stroke.
- Optional rolling bolster speed changeover time.
- Eccentric gear drive makes long stroke lengths possible.
- Large upright openings provide space for automation equipment,
coil/blank feeding
and parts removal.
- Motion monitor provides quick access to monitoring press running
status and trouble
shooting steps.
Applications : - Blanking and forming of large sheet metal
stamping.
- Very well suited for production of automotive body parts, appliance
parts,
metal office furniture, etc. Automobile
(8)
Product : SLX Straight Side
Specification : Straight side, double crank link drive from
160~300 tons
Outstanding features: - Unique
drive design delivers 40-50% increase in torque output compared to
conventional crankshaft presses of the same tonnage.
- Unitized frame design significantly reduces the deflection commonly
found in
gap frame presses.
- Slide motion provides 60% increase in parts per minute without
increasing the speed
of the working stroke.
- Slide motion slows as the die makes contact with the work, with a
momentary dwell at
the bottom of the stroke. This
reduces noise, vibration and material spring-back.
Applications : - Sheet metal blanking, piercing forming and
drawing.
- Ideal for production of motor vehicle parts, appliances and other
general stamplings.
(9)
Product
: HSD Straight Side High Speed
Double Crank Presses
Specification :
High speed double, crank press from 60~300 tons
Outstanding features: - Fully
stress relieved cast iron frame, with hydraulically pre-stressed tie rods,
provides
excellent rigidity and vibration-damping effects for high speed
stamping.
- Standard dymatic balancing system assures smooth operation and longer
die life by
offsetting the inertia forces of the slide and die
- Hydraulic unsticking
device frees tooling jams in seconds.
- Pneumatically powered slide adjustment stops automatically at upper
and lower limits
of adjustment.
- Hydraulic slide adjustment lock removes all clearances in the slide
adjustment
mechanism to increase accuracy and reduce the effects of snap-through.
Applications : -
Precision high speed blanking and shallow forming with progressive dies.
- Ideal for production of laminated rotors and stators for electronic.
(10)
Product
: TF Transfer Presses
Specification : Transfer tooling, Eccentric gears, moving
bolster from 200~600 tons
Outstanding features: - Heavy
steel frame, strengthened by pre-stressed steel tie rods for maximum rigidity.
- Wide left-to-right spacing of frame columns make handling of eccentric
loads easy.
- A super-rigid, box-type slide is guided by eight-point, bronze-alloy
gibs to maintain
slide parallelism.
- Optional rolling bolster speed chang over time.
- Motion monitor provides quick access for monitoring press running
status and
trouble shooting process.
Applications : - Sheet metal blanking, piercing, forming and
drawing.
- Ideal for production of motor vehicle components, appliances and other
general
stampings suited for transfer die
production.
*Exhibition Participation*
===================
Participated in the following local exhibitions :
(1)
Exhibition fair :
Dates attended : 20-25 March, 2001
Location : Taipei World
Trade Center-Exhibition Hall
(2)
Exhibition fair :
Dates attended : 18-23 March, 2003
Location : Taipei World
Trade Center- Exhibition Hall
(3)
Exhibition Fair : TIMTOS -
Dates attended : 15-20 March, 2005
Location :
*Associations*
============
Member of the following associations :
-
- Forging Association R.O.C.
*Competitors*
===========
The following locally based companies supply similar range of products :
- ASM ASSEMBLY AUTOMATION LTD
- TAIWAN SAWADAI TECHNIC INDUSTRIAL CO LTD
- CHUEN JAANG PRECISION INDUSTRY CO LTD
- JUI LI ENTERPRISE CO LTD
- LIEN CHIEH MACHINERY CO LTD
- SHIEH YIH MACHINERY INDUSTRY CO LTD
*Domestic Raw Material Suppliers*
==========================
Major local suppliers include :
1. Company Name : FU NIAN
ENTERPRISE CO LTD
Material/components :
Machines Welding
2. Company Name : CHINA
STEEL CORP
Material/components : Gear
wheel
3. Company Name : HONG
HSING METAL INDUSTRIAL CO LTD
Material/components : Steel
sheet
4. Company Name : SUNNE
AUTOMATIC CONTROL CO LTD
Material/components :
Electric Box
5. Company Name : CHENG YU
METALS MANUFACTORY
Material/components : Crank forging
*Domestic Customers*
==================
- SAMPO CORP
- SANYO ELECTRIC (
- TATUNG CO
- TECO ELECTRIC & MACHINERY CO LTD
- AURORA CORP
- SANYANG INDUSTRY CO LTD
*Local Distribution Network*
=======================
Approximately, 25% of the annual turnover is attributed to local
sales.
*Export Markets*
==============
Approximately, 75% of the annual turnover is attributed to exports.
*Overseas Suppliers*
=================
Major overseas suppliers include :
- TOMAS LTD
- JTC INC
- KOSMEK LTD
- TACO CO
- KT CORP
- AIOI SEIKI
- KOMORI
*International Trade Ranking*
=======================
The firm has been ranked among
Details of rank are as follows :
Year Rank
----- ----------
2001 612
2002 566
2003 510
2004 434
2005 502
*LOCAL BRANCHES & MANAGEMENT*
==================================
Branch : CHIN FONG MACHINE INDUSTRIAL CO LTD -
Branch Address : Rm 11, 5Fl, 20 Min Chuan West Rd Tatung Dist,
Branch Tel : [+886] 2-25513188
Branch Fax : [+886] 2-25418097
Branch : CHIN FONG MACHINE INDUSTRIAL CO LTD -
Branch Address : 12Fl-1, 301 First
Branch Tel : [+886] 7-2385689
Branch Fax : [+886] 7-2385691
Branch : CHIN FONG MACHINE INDUSTRIAL CO LTD (CHANG PIN FACTORY)
Branch Address :
Branch Tel : [+886] 4-7810627
Branch Fax : [+886] 4-7810632
Branch Employees : 38
Branch : CHIN FONG MACHINE INDUSTRIAL CO LTD -
Branch Address :
Branch Tel : [+886] 3-4020204
Branch Fax : [+886] 3-4914136
Branch : CHIN FONG MACHINE INDUSTRIAL CO LTD -
Branch Address : 12 Fl-1, 301 First
Branch Tel : [+886] 7-2385689
Branch Fax : [+886] 7-2385691
Branch : CHIN FONG MACHINE INDUSTRIAL CO LTD (CHANG PIN FACTORY 2)
Branch Address :
Branch Tel : [+886] 4-7810627
*Branches*
==========
Maintains sales offices in the following locations :
-
- Chunli
-
*Strategic Partners & Alliances*
=========================
Group name : CHIN FONG Group
*Subsidiaries, Joint-ventures & Affiliates*
=================================
Maintains office in
Joint venture
------------------
IHI-CHINFONG PRESS ENGINEERING CO LTD
This is a joint venture between the following companies:
- ISHIKAWAJIMA-HARIMA HEAVY INDUSTRIES CO LTD
- CHIN FONG MACHINE INDUSTRIAL CO LTD
*(Subsidiaries, Joint-ventures & Affiliates)
==============================
Company Name : CHIN FONG (
Address : Zhenhai Economic Development Zone
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
Company Name : CHIN FONG (HK) LTD
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Trader
Industry : Machinery
Company Name : CHIN FONG (I) LTD
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Trader
Industry : Machinery
Company Name : CHIN FONG (
Address : 2-7-1 Nakajima Hamamatsu-shi 4300856
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
Company Name : CHIN FONG (NING BO) MACHINE INDUSTRY TECHNOLOGY CO LTD
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Trader
Industry : Machinery
Company Name : CHIN FONG (
Address : 107/433 Moo
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Trader
Industry : Machinery
Company Name : CHIN FONG
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
Company Name : CHIN FONG ENGINEERING (
Address : Flat A 2Fl Golden Hill Commercial Bldg
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
Company Name : CHIN FONG
Address : Jalan Sumagung I Block FF, 23 Kelapa Gading Permai
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Trader
Industry : Machinery
Company Name : CHIN FONG INT'L LTD
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
Company Name : CHIN FONG MACHINE (M) SDN BHD
Address : 29 Jalan 3 Batu 5 Off Jalan Meru Klang 41050 Selangor
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
Company Name : CHIN FONG TRADING INT'L CO LTD
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
Company Name : DIGITAL FORMING SYSTEMS INC
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
Company Name : IHI-CHINFONG PRESS ENGINEERING CO LTD
Address : 5Fl,
Country :
Relationship : Joint-Venture
Legal Form : Private Limited Company
Company Type : Trader
Industry : Machinery
Company Name : STAMTEC INC
Address :
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
Company Name : TOMAS LTD
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
*OVERSEAS AGENTS AND DISTRIBUTORS*
====================================
Agent : MF PRESSES GMBH
Country of Origin :
Agent : LOADPEARL LTD
Country of Origin :
Product Description : Presses
Brand : Chin Fong
Year : 2002
Agent : LOADPEARL LTD
Country of Origin :
Product Description : Punching machines
Brand : Chin Fong
Year : 2002
Agent : CHIN FONG ENGINEERING (
Country of Origin :
Product Description : Presses
Brand : Chin Fong
Year : 2000
Agent : ORIENTAL MACHINERY LTD
Country of Origin :
Product Description : Presses
Brand : Chin Fong
Year : 2002
Agent : LOADPEARL LTD
Country of Origin :
Product Description : Stamping machines
Brand : Chin Fong
Year : 2002
Agent : COSMOS MACHINERY LTD
Country of Origin :
Product Description : Punching machines
Brand : Chin Fong
Year : 2002
Agent : COSMOS MACHINERY LTD
Country of Origin :
Product Description : Stamping machines
Brand : Chin Fong
Year : 2002
Agent : COSMOS MACHINERY LTD
Country of Origin :
Product Description : Presses
Brand : Chin Fong
Year : 2002
Agent : KRITI TOOLS PVT LTD
Country of Origin :
Agent : WORCESTER PRESSES LTD
Country of Origin :
Year : 2000
Agent : PRESS SHOP AUTOMATION PTY LTD
Country of Origin :
Year : 2000
Agent : MARK TECHNO
Country of Origin :
Agent : NICKLAUS MACHINERY CORP
Country of Origin :
Agent : MEGGATON MAQUINAS EQUIPMENTOS LTDA
Country of Origin :
Agent : JONES & ATTWOOD LTD
Country of Origin :
Agent : MACHINE TOOLS (
Country of Origin :
Agent : STAFF ENGINEERING SA
Country of Origin :
PAYMENT RATING : 2 OBTAINED SCORES : 75
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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.
Balance Sheet
Currency : NTD
Denomination : In Thousand
2001 2002 2003 2004 2005 31 December,
2006
------------------
------------------
------------------ ------------------ ------------------ ----------------
Current
Assets 1,532,091 2,041,837 2,536,034 3,325,019 2,895,669 2,518,828
Funds
& long-term
investments 429,644 535,643 736,240 575,635 651,210 924,518
Property 1,090,508 1,073,865 1,295,210 2,012,840 2,510,061 2,662,778
Other
Assets 15,711 2,612 2,949 81,282 73,979 24,781
Total
Assets 3,092,698 3,686,944 4,604,378 6,027,922 6,160,383 6,181,269
Current
Liabilities
(Before) 1,125,586 1,649,997 2,388,894 3,691,317 3,058,670 -
(After) 1,174,448 1,702,887 2,444,281 3,691,317 3,058,670 2,671,432
Long-term
Liabilities 328,420 267,410 373,866 654,727 1,321,863 1,457,752
Other
Liabilities 70,824 93,798 85,414 84,746 131,695 116,905
Total
Liabilities
(Before) 1,524,830 2,011,205 2,848,174 4,430,790 4,512,228 -
(After) 1,573,692 2,064,095 2,903,561 4,430,790 4,512,228 4,304,861
Common
stock 1,109,200 1,197,936 1,293,771 1,499,334 1,499,334 -
Capital
Reserve 15,867 151 151 100,201 100,201 -
Retained
Earnings
(Before) 412,450 468,802 450,404 26,510 44,959 -
(After) 274,852 320,077 356,204 26,510 44,959 -
Total
Shareholder's Equity
(Before) 1,567,868 1,675,739 1,756,204 1,597,132 1,648,155 -
(After) 1,519,006 1,622,849 1,700,817 1,597,132 1,648,155 1,876,408
Income Statement
Currency : NTD
Denomination: In Thousand
2001 2002 2003 2004 2005 31 December,
2006
------------------ ------------------ ------------------ ------------------ ------------------ ----------------
Operating
revenue 1,907,878 2,285,858 2,666,363 3,886,121 3,888,178 3,258,374
Gross
Profit 440,818 518,106 586,145 539,294 607,461 752,292
Operating
Income 94,015 158,290 155,183 (190,014) 112,874 127,066
Non-operating
income 15,693 4,730 807 2,746 3,713 604,365
Non-operating
expense 22,086 31,163 33,403 40,725 46,939 231,148
Net
Income 161,099 178,234 130,327 (329,694) 18,449 108,721
Earnings
(losses)
per share (After)
1.20 1.34 0.98 (2.46) 0.12 -
*Financial Ratios*
==============
2001 2002 2003 2004 2005
------------------
------------------
------------------
------------------
------------------
Ratio
of liabilities to Assets %
49.30 54.60 61.9 73.50 73.20
Ratio
of long-term capital
to fixed Assets% 173.90 180.90 164.50 111.90 116.00
Current
ratio% 136.10 123.70 106.20 90.10 94.70
Quick
ratio%
102.80
88.60 64.70 54.70 56.10
Interest
coverage
10.10
7.90 5.30 (9.00) 1.40
Turnover
of receivable (times)
1.80 2.00 2.20 2.90 2.8
Average
collection period
of receivable 204 179 163 125 130
Turnover
of inventories (times) 4.10 3.80 2.60 2.90 2.7
Average
days of sales
89 95 137 125 135
Turnover
of fixed assets (times)
1.80
2.10 2.10 1.90 1.50
Turnover
of total assets (times)
0.60
0.60 060 0.60 0.6
Return
on total assets%
5.70
5.90 3.70 (5.60) 0.90
Return
on shareholder's Equity% 10.70 11.00 7.60 (19.70) 1.10
Operating
Income
8.50 13.20 12.00 (12.70) 7.50
Net
Income before tax
18.00
18.10 11.10 (27.30) 1.20
Profit
margin%
8.40
7.80 4.90 (8.50) 0.47
Retroactive 1.20 1.34 0.98 (2.46) 0.12
Cash
flows ratio%
1.00
4.50 1.20 - 4.90
Cash
flows adequacy%
54.00
31.90 22.60 3.13 3.68
Cash
reinvestment ratio%
1.80
1.20 - - 2.53
Degree
of operating leverage
4.50
3.10 3.80 (2.80) 5.30
Degree
of financial leverage
1.30
1.20 1.30 0.80 1.70
Financial Summary (Currency:
===============================
Year Sales Assets Net Income
1992 $31,592,592.59 $39,074,074.07 $1,238,888.89
1998 $56,135,000.00 $67,174,133.33 $4,687,966.67
1999 $68,074,687.50 $77,503,718.75 $7,491,187.50
2000 $77,568,833.59 $96,869,517.88 $7,638,911.35
2001 $63,574,782.36 $89,747,475.33 $4,674,956.47
2002 $65,704,455.30 $106,053,808.57 $5,123,138.83
2003 $76,884,746.25 n/a $3,757,987.31
2004 $118,436,090.23 $182,135,338.35 -$1,563,909.77
2005 $122,849,225.91 n/a $582,906.79
2006 $98,499,818.62 $186,858,192.26 $3,286,608.22
*Int´l Trade Activity (Currency:
================================
Year Imports Exports Total
2000 $6,815,379.00 $39,664,968.99 $46,480,347.99
2001 $9,851,772.32 $28,074,800.46 $37,926,572.78
2002 $4,747,179.19 $38,485,833.89 $43,233,013.08
2003 $9,809,148.99 $46,968,776.99 $56,777,925.98
2004 $20,669,680.00 $69,101,964.99 $89,771,644.99
2005 $15,691,851.00 $62,184,684.01 $77,876,535.01
2006 $6,289,429.99 $51,737,004.99 $58,026,434.98
Over the past 32 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD 2,000,000 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 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 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 8466920000 Parts
for machine tools for working wood, cork, bone, hard rubber, hard plastics
or
similar hard materials
Exporting 8466934000 Parts
of metalworking machine tools for cutting gears
Exporting 8466940000 Parts
for machines of heading 8462 or 8463
Exporting 8479 Machines etc having individual
functions, parts
Exporting 8485900000 Machinery
parts not containing electrical features, and not specified or included
elsewhere
in chapter 84, except ships' propellers
Importing 4016930000 Gaskets,
washers and other seals, of vulcanized rubber other than hard rubber
Importing 7209900000 Flat-rolled
iron or nonalloy steel coils or not 600mm or more wide cold-rlld, not
clad,
pntd or coated
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturing Crank presses
Manufacturing Crankless pressing machines
Manufacturing Knuckle joint presses
Manufacturing Machines, forging
Manufacturing Transfer presses
Manufacturing Power presses
Manufacturing Mechanical presses
Manufacturing Lathes capstan
Manufacturing Double crank presses
Manufacturing High speed presses
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
Exporting to
Exporting to
Exporting to UAE
Exporting to
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)