MIRA
INFORM REPORT
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Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
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Name : |
HSING WEI MACHINE INDUSTRY CO LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
March 26, 1979 |
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Com. Reg. No.: |
52525554 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Designing and manufacturing rotogravure printing presses and packaging
machines. Sales and distribution to local and export markets. |
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$ 30,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
HSING WEI MACHINE INDUSTRY CO LTD
TEL: 886-4-23580087
FAX: 886-4-23599965
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 26, 1979
REGISTRATION NO. :
52525554
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. TSUNG-YAO CHEN (CHAIRMAN)
STAFF STRENGTH :
25
CAPITAL :
US$ 361,337
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 33.1230 = US$1 AS OF 2007-6-25
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*
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License number : 52525554
Date issued : 26 March,
1979
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*
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License number : 9967006000
Date issued : 31 July,
1998
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
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Size : 785
sq meter (Approx)
Location :
Facilities :
Modern
Property status : Rented
Type of building : Industrial
building
Comment : Serves as
office and factory.
Previous Contact Details
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Addresses :
18, Alley 18,
Lane 606, Li Ming Rd Section 2
Tel no : 4-22513328
*Corporate & Organization Structure*
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A medium-sized company mainly operated and managed by owner of the firm.
*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.hsingwei.com The design is professional and the content
is well organized.
Email : hwmi@ms14.hinet.net
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. Tsung-yao Chen
9,187,000
Ms. Su-lien Lee 887,000
*COMPANY MANAGEMENT*
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Name Nationality
Job Description Dept. / Division
Ms. Pei-chen Chen Taiwanese
Executive Human Resources
Ms. Li-ju Chen Taiwanese
Executive Sales
Mr. Douglas Cheng-yi Chia Taiwanese
Manager Sales
*Key Personnel*
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Mr. Tsung-yao Chen
Resident status :
Founder : Co-founder
Work experience : More than 20
years
Responsibilities : Handles the
daily operation of the firm including all financial, sales and legal matters.
*Main Products & Services*
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Specializes in the following areas of work :
1. Designing and manufacturing rotogravure printing presses and
packaging machines.
2. Sales and distribution to local and export markets.
Products : Rotogravure printer
Gas drying
equipment
Gravure, printing machines
Ink pumping
systems
Laminating
machines
*Brand*
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Brand Hsing Wei
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- HSS INDUSTRIAL CO LTD
- CHEER YOUNG MACHINERY WORKS CO LTD
- COMAX MACHINERY CO LTD
- FOR DAH INDUSTRY CO LTD
- HANKY & PARTNERS (
*International Exhibition Participation*
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Exhibition Fair : Manufacturing
Technology World
Date Attended : 1-4 October, 2003
Location :
Details : The event
that brought together 6 power-packed events namely: Philtronics,
Plastic
and Woodmach
*Local Distribution Network*
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Approximately 20% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 80% of the annual turnover is attributed to export.
Note
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The export figures listed above ONLY reflect those overseas orders which
are shipped in the name of the firm.
It is understood the firm is also selling to local trading companies
which in their own business names also export products made by HSING WEI.
*Overseas Agents And Distributors*
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Agent : CRISWILL INT'L
Country of Origin :
Product Description : Rotogravure printer
Brand : Hsing wei
Year : 2000
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 57
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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 : MEGA INT'L COMMERCIAL
BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
Swift code : ICBCTWTP
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
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2004 US$ 0.00 US$ 1,250,000.00 US$ 1,250,000.00
2005 US$ 23,000.00 US$ 850,000.00 US$ 873,000.00
2006 US$ 0.00 US$ 530,000.00 US$ 530,000.00
SC is considered an old-established business in small size. It is
considered a credit line up to US$ 30,000 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 3555 Printing
trades machines and equipment, and parts and accessories
Manufacturing 3565 Packaging
machinery, and parts
Service 2754 Commercial
Printing, Gravure
Service 2759 Commercial
Printing, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8443400000 Gravure
printing machinery
Exporting 8479 Machines
etc having individual functions parts
Manufacturing 8419895070 Industrial
machinery, plant or equipment for the treatment of rubber and plastics,
involving
a change in temperature
Manufacturing 8422309070 Machines
for filling, closing, sealing, capsuling or labeling bottles, cans or similar
containers
Manufacturing 8422309090 Machinery
for filling, closing, sealing, capsuling or labeling boxes, bags or similar
containers
Manufacturing 8443400000 Gravure
printing machinery
Manufacturing 8443505000 Printing
machinery
Manufacturing 8477590000 Machinery,
for molding or otherwise forming rubber or plastics
Manufacturing 8479 Machines
etc having individual functions parts
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturing Plastic bag making machine
Manufacturing Plastic machineries
Manufacturing Pneumatic clamping machines
Manufacturing Side sealing machines
Manufacturing Video inspection system
Manufacturing Turning systems
Manufacturing Slitting machines
Manufacturing Printing machines
Manufacturing Printing presses
Manufacturing Processor viscosity system
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
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%)