MIRA
INFORM REPORT
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Report Date : |
26.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
KEENEYES INDUSTRIAL CORP |
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Registered Office : |
18FL, 85 Chung Hsiao East Rd Section 1 Chungcheng Dist,
Taipei City 100 |
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Country : |
Taiwan |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
JULY 9, 1974 |
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Com. Reg. No.: |
83394521 |
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Legal Form : |
Private |
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Line of Business : |
Importation of chemical raw materials. Assembly and production
of finished products incorporating some of the raw materials imported. |
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 : |
USD 750,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
KEENEYES INDUSTRIAL CORP
18FL, 85 CHUNG HSIAO EAST RD SECTION 1 CHUNGCHENG DIST
TAIPEI CITY 100, TAIWAN
TEL : [+886] 2-23949504
FAX : [+886] 2-23934896
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 9, 1974
REGISTRATION NO. :
83394521
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. YU-CHANG LIAO (CHAIRMAN)
STAFF STRENGTH :
35
CAPITAL :
US$ 3,011,141
BUSINESS LINE :
IMPORTER
TURNOVER :
US$28,909,952.61 (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC.
31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
USD 750,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.15500 = US$1 AS OF 2007-3-26
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 :
83394521
Date Issued :
9 July, 1974
Issuing Authority : Ministry of Economic Affairs (MOEA)
*Industry Ranking*
================
The firm has been ranked among Taiwan's largest
non-manufacturing corporations.
In terms of turnover is considered as one of Taiwan's Top
1,000 firms engaged in chemicals.
Rankings have included :
Year Rank
------ ------
1992 580
2005 824
*Office & Facilities*
================
Size
: 391sq meter (Approx)
Location
: Center Business District (CBD)
Property status :
Owned by KEENEYES INDUSTRIAL CORP
Type of building : Commercial building
Previous contact details:
---------------------------------
Telephone no: 2-23216045
*Warehousing Facilities*
==================
KEENEYES uses one of their related parties facilities in
Kaohsiung for storage of imported chemicals.
Type of building :
Industrial
Building size
: 84 sq meter (Approx)
Location
: Kaohsiung Hsien
*Reputation*
==========
Reference checking for the purpose of establishing the
firm's reputation within the respective industry failed to reveal any negative
information.
Web
site: www.loyal.com.tw The design is professional and the content
is well organized. At present it is both in Chinese and English version.
Email : keeneyes@loyal.com.tw
For the past 33 years there is no record of litigation.
*Major Shareholders*
=================
Shareholders' Name No of Shares
--------------------------- ------------------
Mr. Cheng-to Liao 685,661
Mr. Ming-tse Liao 557,623
Mr. Huang-hua Liao 111,684
Management : Mr. Chang-ming Cheng, Manager
Mr. Ming-tse Liao, Managing Director
Name Nationality Job
Description
Mr. Chang-ming Cheng
Taiwanese Manager
Mr. Ming-tse Liao Taiwanese Managing Director
*Key Personnel*
=============
Mr. Yu-chang Liao
Founder
: Co-founder
Work experience :
More than 30 years.
Responsibilities
: Daily operation of the firm including all financial and legal matters
Resident status
: Taiwan
*Main Products & Services*
=====================
Specializing in three main areas of work:
1. Importation of chemical raw materials which are used in a
very wide range of manufacturing industries.
Key focus: Chemicals
for Synthetic resins
2. Assembly and production of finished products
incorporating some of the raw materials imported.
Products : Acetophenone
Acrylic polyols resins
Acrylic resin
Aliphatic fluoro compounds
Alkyd resin
*Payment Terms*
=============
Sales
------
Local : 30-60 days
credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
--------------
Local : 30-60 days
credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
===========
The following locally based companies supply identical range
of products:
- ETERNAL CHEMICAL CO LTD
- FOUR PILLARS ENTERPRISE CO LTD
- HEXAPALS CO LTD
- POLYPLASTICS TAIWAN CO LTD
- QUALIPOLY CHEMICAL CORP
*Domestic Suppliers*
================
Major local supplier includes:
(1)
Supplier's Name
: GRAND PACIFIC PETROCHEMICAL CORP
Products/Materials
: Resins, ABS
(2)
Supplier's Name
: FORMOSAN UNION CHEMICAL CORP
Products/Materials
: Organic chemicals
(3)
Supplier's Name
: DAIREN CHEMICAL CORP
Products/Materials
: Butanediol
(4)
Supplier's Name
: UPC TECHNOLOGY CORP
Products/Materials
: Chemical products
(5)
Supplier's Name
: KAOHSIUNG MONOMER CO LTD
Products/Materials
: Acetone
(6)
Others:
- CHIUNG LONG PETROCHEMICAL CO LTD
- CHINA PETRO CHEMICAL DEVELOPMENT CORP
- KAOHSIUNG MONOMER CO LTD
*Domestic Customers*
=================
- SCI PHARMTECH INC
*Local Distribution Network*
=====================
Majority of the annual turnover is attributed to local sales
through direct sales to industrial end-users.
*Export Markets*
=============
Small percentage of the annual turnover is attributed to
export
*Overeseas Supplier*
=================
Major overseas supplier includes:
(1)
Country
: Japan
Supplier's Name
: NESTE CHEMICALS (JAPAN) CO LTD
(2)
Country
: Japan
Supplier's Name
: OTSUKA CHEMICAL CO LTD
Products/Materials
: Adipic acid
(3)
Others:
- BEROL NOBEL NACKA AB
- MITSUBISHI GAS CHEMICAL CO INC
- QO CHEMICALS INC
- SISAS SPA
- TESSENDERLO CHEMIE
*International Trade Ranking*
======================
The firm has been ranked among Taiwan's Top Importers/Exporters based on the standard measured by the Board of Foreign Trade (BOFT)
Details of rank are as follows :
Year
Rank
------
----------
1997
3360
*LOCAL BRANCHES & MANAGEMENT *
===================================
Branch : KEENEYES INDUSTRIAL CORP
Branch Address : Yungan Industrial Park 12 Yung Kung 2nd Rd
Yung-an Hsiang, Kaohsiung Hsien 828
Branch Tel : [+886] 7-6222491
*(Subsidiaries , Joint-ventures & Affiliates)
=================================
Company Name : AMERTAI ENTERPRISE CO LTD
Address : Yung An Industrial Dist 12 Yung Kung Rd Yung-an
Hsiang 828 Kaohsiung Hsien Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Chemicals
Company Name : APEX INFORMATION CORP
Country : Taiwan
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Chemicals
Company Name : FOUNDRY KING INDUSTRIAL CORP
Country : Taiwan
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Chemicals
Company Name : JIANGYIN LONG XIN CHEMICAL CO LTD
Country : China
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Chemicals
Company Name : JIANGYIN XINHEQIAO CHEMICAL CO LTD
Address : 137 Xiaoshan Rd Development Zone Jiangyin 214434
Jiangsu China
Country : China
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Chemicals
Company Name : LOYAL CHEMICAL INDUSTRIAL CO LTD
Address : 19Fl, 85 Chung Hsiao East Rd Section 1 Chungcheng
Dist Taipei City 100 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Chemicals
Company Name : LOYAL INVESTMENTS CORP
Country : Taiwan
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Service
Industry : Financial Services - General
Company Name : NINGBO HE-QIAO CHEMICAL INDUSTRIAL CO LTD
Address : Ningbo Economic & Technology Development Zone
Area C1 Ningbo 315800 Zhejiang China
Country : China
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Chemicals
Company Name : SALES DOOR ENTERPRISE LTD
Address : 18Fl, 85 Chung Hsiao East Rd Section 1 Chungcheng
Dist Taipei City 100 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : n/a
Company Type : Trader
Industry : Chemicals
Company Name : SALES DOOR LTD
Country : Hong Kong
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Hardware & Tools
Company Name : SUCCESS GATE IND LTD
Country : Hong Kong
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Chemicals
*Strategic Partners & Alliances*
=========================
Group/Alliance name: LOYAL GROUP
Founder : Mr. Yu-chang Liao
Group members
:
Taiwan
------------
- LOYAL CHEMICAL INDUSTRIAL CORP
- SALES DOOR ENTERPRISE LTD
- AMERTAI ENTERPRISE CO LTD
- APEX INFORMATION CORP
China
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- NINGBO HEQIAO CHEMICAL CO LTD
- JIANG YIN XIN HEQIAO CHEMICAL CO LTD
- JIANG YIN LONG XIN CHEMICAL CO LTD
Hong Kong
-----------------
- SUCCESS GATE IND LTD (HONG KONG)
- SALES DOOR LTD (HONG KONG)
BVI
-------
- SALES DOOR ENTEPRISE LTD
PAYMENT RATING : 2 OBTAINED SCORES : 75
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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.
As a private limited company there is no legal requirement
according to local corporate law for public disclosure of detailed financials.
*BANK DETAILS*
=================
Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist, Taichung City
Branch Address : 38 Tzu Yu Rd Section 2 Central Dist
Taichung City 400 (Head Office)
SWIFT Code : CCBCTWTP
Bank Name : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist, Taipei City
Branch Address : 10Fl, 30 Chungking South Rd Section 1
Chungcheng Dist Taipei City 100 (Head Office)
SWIFT Code : FCBKTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungshan Dist, Taipei City
Branch Address : 100 Chi Lin Rd Chungshan Dist Taipei City
104 (Head Office)
SWIFT Code : ICBCTWTP
*Financial Ratios*
===============
Year Net
Worth Return on Retun on Debt to
(NTDM) Sales (%) Networth (%) Equity (%)
--------
-------------
-------------
----------------- --------------
1992
58.88
3.22 21.12 255.16
*Int´l Trade Activity
(Currency: U.S. $'s)
===============================
Year
Imports
Exports Total
1992
$6,500,000.00 $0.00 $6,500,000.00
1996
$7,000,000.00 $0.00 $7,000,000.00
1997
$8,100,000.00
$100,000.00 $8,200,000.00
1998
$6,800,000.00
$100,000.00 $6,900,000.00
2003
$8,000,000.00
$850,000.00 $8,850,000.00
2004
$1,499,849,624.06
$2,200,000.00
$1,502,049,624.06
2005
$899,842,022.12
$1,500,000.00 $901,342,022.12
*Financial Summary
(Currency: U.S. $'s)
================================
Year Sales Assets Net Income
2004
$27,518,796.99
$17,263,157.89
n/a
2005
$28,909,952.61
$18,135,860.98
$2,053,712.48
Over the past 33 years, SC has made a stable growth with
satisfactory profit. It is considered a credit line up to USD 750,000 appears
to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing
2800 Chemicals
and Allied Products
Importing
2816 Inorganic
pigments
Importing
2819 Industrial
inorganic chemicals
Importing 2869 Industrial organic chemicals
Importing
2899 Chemical
preparation
Importing
5169
Chemicals/Allied Parts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting
2902 Cyclic
hydrocarbons
Exporting
2920 Esters of
inert acids & salts; their halogen etc
Exporting
2922
Oxygen-function amino-compounds
Importing
2809 Diphosphorus
pent oxide; phosphoric acid etc
Importing
2900 Organic
chemicals
pImporting 2902902000 Acenaphthene, chrysene, cymene,
dimethylnapthalenes, fluoranthene, fluorene,
indene,
mesitylene, methylanthracene, phenanthrene and pyrene
Importing
2905 Acyclic
alcohols & halogenat, sulfonatd etc derives
Importing
2905420000 Pentaerythritol
Importing
2906 Cyclic
alcohols & halogenatd, sulfonatd etc derives
Importing
2907220000 Hydroquinone
(quinoa)
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Importing
Allopurinol
Importing Amino compound
Importing
Amino resin
Importing
Aniline
Importing
Anti-static agents
Importing
Aromatic Nitrides/Cyanides
Importing
Aromatic compounds
Importing Benzaldehyde
Importing
Benzil dimethylketal
Importing
Benzoin bis-methyl ether
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Bangladesh
Exporting to Europe
Exporting to Malaysia
Exporting to Philippines
Exporting to South Korea
Exporting to USA
Importing from Asia
Importing from Australia
Importing from Belgium
Importing from Brazil
Importing from China
Importing from Europe
Importing from France
Importing from Germany
Importing from India
Importing from Japan
Importing from Malaysia
Importing from Netherlands
Importing from Singapore
Importing from South Korea
Importing from Sweden
Importing from USA
Importing from United Kingdom
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%)