MIRA
INFORM REPORT
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Report Date : |
07.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
YU FONG TECHNOLOGIES CO LTD |
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Registered Office : |
3FL, 290 Nan Tun Rd Section 2 Nantun Dist, Taichung City 408 |
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Country : |
Taiwan |
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Date of Incorporation : |
18.07.1994 |
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Com. Reg. No.: |
84919551 |
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Legal Form : |
Private |
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Line of Business : |
Out-sourcing the production of a wide range of moulds for shoes, outer
soles, inner soles, shoes accessories and related to shoe products. Exporting to International Markets and Selling a Small percentage of
goods to local market |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
USD 35,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME AND ADDRESS
YU FONG
TECHNOLOGIES CO LTD
3FL, 290 NAN TUN RD SECTION 2 NANTUN DIST
TAICHUNG CITY 408, TAIWAN
TEL: 886-4-24714508
FAX: 886-4-24735602
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 18, 1994
REGISTRATION NO. :
84919551
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. SHAO-YU SU (CHAIRMAN)
STAFF STRENGTH :
17
CAPITAL :
US$ 603,500
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 35,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.38850 = US$1
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
*Office & Facilities*
================
Size :
268.05 sq. meters
Location :
Taichung City
Property status : Rented
Type of building :
Commercial
Comments : Serves as
office and warehouse.
Other e-mail :
yf8dnag8@ms15.hinet.net
Previous Contact Details
---------------------------------
(1)
Address : 1Fl,
267 Hsi Tzang Rd Taipei Taiwan
(2)
Address : 3Fl,
716 Hsiang Shang Rd Section 1, 408 Nantun Dist Taichung City Taiwan
Tel number :
4-23206717
Fax number :
4-23200918
*Corporate & Organization Structure*
=============================
A small-sized company mainly operated and managed by the owner.
Organization and management of the company is divided into the
following:
- Machine department
- Mould department
- Materials department
*Factories, Size & Locations*
======================
The company is a trading house focused on exporting, and maintains no
manufacturing facilities.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
www.yufong.com The design is professional
and the content is well organized. At present it is both in Chinese and English
versions.
E-mail: service@yufong.com
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Shareholders' Name
% of Shares
--------------------------- ----------------
Mr. Shao-yu Su 99.00
Undisclosed Shareholder
1.00
Management: Mr. Wei-lun Weng,
Representative
Mr. Debatosh Nag, General Manager
Mr. Shao-yu Su, Managing Director
Name Nationality
Job Description Dept.
/ Division
Mr. Wei-lun Weng Taiwanese
Representative Sales
Mr. Debatosh Nag Indian General Manager -
Mr. Shao-yu Su Taiwanese
Managing Director -
*Key Personnel*
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Mr. Shao-yu Su
Founder : Sole
founder
Work experience : More than 12
years
Responsibilities : Handles
the daily operation of the firm including all financials and legal matters.
*Main Products & Services*
======================
Specializes in the following areas of works:
1. Out-sourcing the production of a wide range of moulds for shoes,
outer soles, inner soles, shoes
accessories and related to
shoe products.
2. Exporting to international markets and selling a small percentage of
goods to local market.
Moulds include:
A. Unit Sole Mould
1. PVC & TPR Sole Mould
2. Rubber Sole Mould
3. Air Blown (insert) Sole
Mould
4. PU mould
B. Phylon Mould
1. Phylon midsole mould
2. Rubber outsole mould
C. Eva Injection Mould
1. 1-color dip mould
2. 2-color dip mould
3. 3-color dip mould
D. Strap Mould
1. 2D
2. 3D
E. Air Blown Dip Mould
F. Dip Mould
G. Sheet Mould
H. Full PVC Mould
Products: Air blowing equipment
Air blown dip
moulds
EVA injection
moulds
Full PVC moulds
Insole moulding
machines
*Payment Terms*
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Sales
------
Local : Cash
30-60 days credit
Exports : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash
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 :
- LIEN FA INJECTION MACHINERY CO LTD
- MULTIPLAS ENGINERY CO LTD
- FU CHUN SHIN MACHINERY MANUFACTURE CO LTD
- TZE LI MACHINERIES CO LTD
- SAINT DAWN CO LTD
- FURNACE ENGINEERING & TRADING CO LTD
- REXAM DER KWEI COSMETIC PACKAGING LTD
*Domestic Customers*
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A very small percentage of sales which are made locally, are to other
local exporting firms.
*Local Distribution Network*
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An estimated 10% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 90% of the annual turnover is attributed to export.
*International Trade Ranking*
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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
------
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1997 2728
*International Exhibition Participation*
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Exhibition fair : 13th Delhi International
Leather Fair
Dates attended : 20-21 May, 2005
Location : Pragati
Maidan, New Delhi
*(Subsidiaries, Joint-ventures & Affiliates)
==============================
Company Name : DYNA
CREATIONS PVT LTD
Address :
M-576 Gurnharkshan Nagar New Delhi India
Country :
India
Relationship :
Subsidiary
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Machinery
Company Name : YU FONG
TECHNOLOGIES CO LTD
Address :
1Fl, 37A Dharmatal Rd Calcutta (Kolkata) 700042 West Bengal India
Country :
India
Relationship :
Subsidiary
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Machinery
*Subsidiaries, Joint-ventures & Affiliates*
=================================
Also maintains an office in China.
*Strategic Partners & Alliances*
=========================
Maintains strategic alliances with the following:
- BATA GROUP OF COMPANIES
- LAKHANI
- RELAXO
- ACTION
- PARAGON
PAYMENT
RATING : 3 OBTAINED SCORES :
60
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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 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.
Although, financial summaries were obtained for reference.
*Bank Details*
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Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist, Taipei City
Branch Address : 123 Jhongsiao E Rd Section 2 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : ICBCTWTP
Bank Name : BANK OF OVERSEAS
CHINESE
Branch : Chungcheng Dist, Taipei City
Branch Address: 8 Hsiang Yang Rd Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code : OCCBTWTP
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2002 $5,800.00 $8,768,634.67 $8,774,434.67
2003 $50,158.59 $6,000,023.07 $6,050,181.66
2004 $50,000.00 $8,002,406.02 $8,052,406.02
2005 $316,523.89 $7,349,106.00 $7,665,629.89
2006 $258,304.99 $5,219,715.99 $5,478,020.98
*Financial Summary (Currency: U.S. $'s)
=============================
Year Sales Assets Net Income
2006 $6,680,773.88 $353,688.03 $208,585.25
SC is considered small-sized in its line with a development history of 13
years. Taking into consideration of SC’s general performance, a credit line up
to USD 35,000 appears to be within SC’s capacities.
Attached: trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3089 Plastics
products,
Exporting 3500 Industrial
Machinery & Equipment
Exporting 3549 Metalworking
machinery
Exporting 3559 Special
industry machinery, and parts,
Manufacturing 3089 Plastics
products,
Trading 3500 Industrial
Machinery & Equipment
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3926 Articles
of plastics (inc polymers & resins)
Exporting 3926909890 Other articles of plastic,
Exporting 7616995090 Articles of aluminum
Exporting 8453 Machinery
for work leather etc & footwear etc, parts
Exporting 8453200000 Machinery for making or repairing footwear
Exporting 8453800000 Machinery for making, or repairing articles of hides, skins, or
leather, other than
sewing
machines
Exporting 8461 Machine
tools for shaping, slotting, gear cut etc
Exporting 8477 Machinery
for working rubber & plastic etc, parts
Exporting 8480 Molding
boxes for metal foundry; mold bases etc
Exporting 8480200000 Mold bases
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Machines,
automatic rolling
Exporter Moulds
Exporter Phylon
moulds
Exporter Plastic
processing machinery
Exporter Plastic blow
moulds
Exporter Sheet
moulds
Exporter Shoes
machines
Exporter Steel sheets,
insulated
Exporter Strap
moulds
Exporter UV printing
machineries
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Africa
Exporting to Asia
Exporting to Bangladesh
Exporting to Europe
Exporting to India
Exporting to Indonesia
Exporting to Kenya
Exporting to Mongolia
Exporting to Nepal
Exporting to Nigeria
Exporting to Pakistan
Exporting to Russia
Exporting to South Africa
Exporting to Uganda
Importing from Asia
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. |
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%)