MIRA
INFORM REPORT
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Report Date : |
24.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
WEBCONTROL MACHINERY CORP |
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Registered Office : |
Taichung Industrial Park 12-5, 31st Rd Hsitun Dist,
Taichung City 407 |
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Country : |
Taiwan |
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Date of Incorporation : |
June 1, 1994 |
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Com. Reg. No.: |
27583181 |
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Legal Form : |
Private |
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Line of Business : |
Design and development of various types of machinery related to
plastic packaging and plastic processing. Manufacture of plastic packaging machinery. |
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 USD 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name &
address
WEBCONTROL MACHINERY CORP
TAICHUNG INDUSTRIAL PARK 12-5, 31ST RD HSITUN DIST
TAICHUNG CITY 407, TAIWAN
TEL : 886- 4-23587272
FAX : 886-4-23580882
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 1, 1994
REGISTRATION NO. :
27583181
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. HSU-LI TSENG (CHAIRMAN)
STAFF STRENGTH :
40
CAPITAL :
US$ 752,785
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 50,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.99500 = US$1 AS OF 2007-3-23
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –Taiwan New Dollars
*Company Registration*
===================
License number : 27583181
Date issued : 24 December, 2004
Issuing authority : Ministry of Economic Affairs (MOEA)
*Company Registration *
====================
License number :
9967178001
Date issued :
1 June, 1994
Issuing authority : Ministry of Economic Affairs (MOEA)
Type of license :
Factory license
*Office & Facilities*
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Size :
4200sq meter (Approx)
Location : Taichung City
Property status : Rented
Type of building : Industrial
building
Comment : Serves as office and factory
*Corporate & Organization Structure*
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A medium sized company, operated and managed by an experienced team of
professionals.
*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.webcontrol.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@webcontrol.com.tw
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. Hsu-li Tseng 1,300,000
Mr. Cheng-yu Luo 950,000
Mr. Chih-hsiao Chen 60,000
Ms. Pi-chien Chiang 60,000
Management: Mr. Su-yi Lee, Executive
Name Nationality Job Description
Mr. Su-yi Lee Taiwanese Executive Sales & Marketing
*Key Personnel*
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Mr. Hsu-li Tseng
Founder : Co-founder
Work experience : More than 15 years.
Responsibilities : Daily
operation of the firm including all financial and legal matters
Resident status : Taiwan
*Main Products & Services*
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Specializes in the following areas of work :
1. Design and development of
various types of machinery related to plastic packaging and plastic processing.
2. Manufacture of plastic
packaging machinery.
3. Management of sales to local
trading houses which inturn export under their respective names, and also
direct
exports to customers of
Webcontrol.
Products: PVC bag sealing machines
Printing machine
spare parts
Batch resin
blender
Rewinding
machine
Slitting
machines
*Brand*
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WEBCONTROL
*Payment Terms*
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Sales
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Local : 30-60 days credit.
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : 30-60 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 :
- LONG NEW INDUSTRIAL CO LTD
- ASIA METAL INDUSTRIES INC
- HCI CONVERTING EQUIPMENT CO LTD
- COMAX MACHINERY CO LTD
*Local Distribution Network*
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10% of the annual turnover is attributed to local sales.
*International Trade Activity*
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Government issued 2006 trade figures for this firm, were not available
at the time of producing this report.
*Export Markets*
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90% annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 63
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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.
As a private limited company with a paid-up capital of less than USD 6
million, there is no legal requirement according to Taiwan corporate law for
public disclosure of detailed financials.
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2005 $2,701,421.80 $391,911.53 $301,905.21
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $80,000.00 $1,450,000.00 $1,530,000.00
Over the past 13 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD 50,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3569 General
industrial machinery and equipment, and parts
Importing 3569 General
industrial machinery and equipment, and parts
Manufacturing 3569 General
industrial machinery and equipment, and parts
Manufacturing 5084 Industrial
Machinery/Equip
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8422309090 Machinery for filling, closing, sealing, capsuling or labeling
boxes, bags or similar
containers
Exporting 8465990070 Machine tools for assembling, woodworking
Exporting 8479 Machines
etc having individual functions, parts
Importing 8443905000 Parts of printing machinery, except textile, and machines for
uses ancillary to
printing
Manufacturing 8422309090 Machinery
for filling, closing, sealing, capsuling or labeling boxes, bags or similar
containers
Manufacturing 8465940035 Laminating
machines, woodworking, new
Manufacturing 8479 Machines
etc having individual functions, parts
Manufacturing 8509400015 Food
blenders, domestic
Manufacturing 8509400025 Electric
domestic food mixers, except blenders
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturing Lamination machines
Manufacturing PVC bag sealing machines
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Belgium
Exporting to Brazil
Exporting to Canada
Exporting to Colombia
Exporting to Europe
Exporting to Germany
Exporting to Hong Kong
Exporting to Indonesia
Exporting to Iran
Exporting to Italy
Exporting to Japan
Exporting to Malaysia
Exporting to Mexico
Exporting to Middle East
Exporting to North America
Exporting to Peru
Exporting to Poland
Exporting to Slovakia
Exporting to South America
Exporting to Thailand
Exporting to Turkey
Exporting to USA
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%)