MIRA
INFORM REPORT
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Report Date : |
22.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHENG KUO METAL CO LTD |
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Registered Office : |
9 Ting Hu 1st St Kueishan Hsiang Taoyuan Hsien 333 |
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Country : |
Taiwan |
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Date of Incorporation : |
March 3, 2003 |
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Com. Reg. No.: |
80001473 |
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Legal Form : |
Private |
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Line of Business : |
Import and domestic purchases of wide range copper materials. Processing of copper scrap and related metals. 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 USD 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
CHENG KUO METAL CO LTD
9 TING HU 1ST ST KUEISHAN HSIANG TAOYUAN HSIEN 333, TAIWAN
TEL : 886-3-3960211
FAX : 886-3-3960371
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 3, 2003
REGISTRATION NO. :
80001473
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHENG-LIANG LIN (CHAIRMAN)
STAFF STRENGTH :
35
CAPITAL :
US$ 19,613,760
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 400,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.37280 = 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
*Licenses & Permits*
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License number : 99628834
Date issued : 8 April,
2000
Issuing authority : Industrial
Development Bureau, MOEA
Licence type : Factory
License
*Capital Details*
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Initial registered capital : NTD
600,000,000.00
Capital increase :
NTD 650,000,000.00
Date of increase :
N/A
Initial paid-up capital :
NTD 500,000,000.00
Paid-up capital increase : NTD 600,000,000.00
Date of increase :
N/A
*Office & Facilities*
===============
Size : 5,100
sq. meters (Approx.)
Location : Taoyuan
Hsien
Property status : Owned by the
company, CHENG KUO METAL CO LTD.
Type of building : Commercial
& Industrial mixed
Comments : Serve as
office, factory and warehouse.
Other contact details
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Tel no. : 3-3184223
Fax no. : 3-3184226
*Corporate & Organization Structure*
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A large sized company operated and managed by an experienced team of
professionals.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
E-mail: penny.su@chengkuo.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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G CHANG CAPITAL CO LTD 18,075,260
Ms. Pei-hsuan Lin 5,386,500
TING KUEI INVESTMENT CO LTD 5,011,641
HUAN TING INVESTMENT CO LTD 4,602,000
MEI YU INVESTMENT CO LTD 3,793,147
Mr. Chin-chen Chiang 1,489,600
Management: Ms. Miranda Hsu,
Manager
Ms. Penny Su, Manager
Mr. Chin-chen Chiang, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Miranda Hsu Taiwanese
Manager Sales
Ms. Penny Su Taiwanese
Manager Sales
Mr. Chin-chen Chiang Taiwanese General Manager -
*Key Personnel*
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(1)
Mr. Cheng-liang Lin
Founder :
Co-founder
Work experience : More than 5
years
Responsibilities : Handles the
daily operation of the firm including all financials and legal matters.
Resident status : Taiwan
(2)
Ms. Penny Su
Email :
penny.su@chengkuo.com.tw
*Main Products & Services*
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Specializes in the following areas of work:
1. Import and domestic purchases of wide range copper materials.
2. Processing of copper scrap and related metals.
3. Sales and distribution to local and export markets.
Products: Copper products
Copper scraps
Refined copper
cathodes
*Payment Terms*
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Sales
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Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash
30-90 days credit
Import : Letter of Credit (L/C)
Open Account (D/A)
with settlement using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products:
- CHANG TAI SHINING ENTERPRISE LTD
- FU NING COPPER INDUSTRIAL CO LTD
- HO HSIN METAL INDUSTRIAL CO LTD
- SHERNG HWA INDUSTRY CO LTD
- KU-SAN CO LTD
*Local Distribution Network*
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Approximately 90% annual turnover is attributed to local sales.
*Export Markets*
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Approximately 10% 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 ranked are as follows:
Year Ranked
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2003 1912
2004 405
2005 283
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 66
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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
MODERATE 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*
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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
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2006 $180,773,881.50 $11,487,303.51 $2,448,609.43
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2003 $10,527,422.00 $3,793,520.99 $14,320,942.99
2004 $81,069,368.99 $12,513,584.99 $93,582,953.98
2005 $150,000,000.00 $21,000,000.00 $171,000,000.00
2006 $150,000,000.00 $100,000,000.00 $250,000,000.00
SC is considered small-sized in its line with a short history. Taking
into consideration of SC’s general performance, a credit line up to USD 400,000
appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3331 Smelter
and refined copper
Exporting 3351 Copper,
rolled or drawn
Exporting 3366 Copper
Foundries
Manufacturing 3331 Smelter
and refined copper
Manufacturing 3351 Copper,
rolled or drawn
Manufacturing 3366 Copper
Foundries
Manufacturing 3499 Fabricated
metal products,
Trading 3499 Fabricated
metal products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7400 Copper
& articles thereof
Exporting 7404000020 Waste and scrap of refined copper
Exporting 7408190000 Refined copper wire, with a maximum cross-sectional dimension
under 6mm
Exporting 7419 Articles
of copper
Exporting 7602000030 Aluminum used beverage container scrap
Importing 7403110000 Refined copper cathodes and sections of cathodes
Manufacturing 7400 Copper
& articles thereof
Manufacturing 7404000020 Waste
and scrap of refined copper
Manufacturing 7408190000 Refined
copper wire, with a maximum cross-sectional dimension under 6mm
Manufacturing 7419 Articles
of copper
INTERNATIONAL TRADE
: ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to Hong Kong
Exporting to Vietnam
Importing from Africa
Importing from Asia
Importing from Australia
Importing from Belgium
Importing from Canada
Importing from Chile
Importing from China
Importing from Colombia
Importing from Cuba
Importing from Czech Republic
Importing from Egypt
Importing from Europe
Importing from France
Importing from India
Importing from Indonesia
Importing from Iran
Importing from Ireland
Importing from Israel
Importing from Italy
Importing from Japan
Importing from Jordan
Importing from Kuwait
Importing from Lebanon
Importing from Malaysia
Importing from Mexico
Importing from Middle East
Importing from Netherlands
Importing from New Zealand
Importing from North America
Importing from Oceania
Importing from Pakistan
Importing from Philippines
Importing from Romania
Importing from Saudi Arabia
Importing from Singapore
Importing from South Africa
Importing from South Korea
Importing from Spain
Importing from Thailand
Importing from UAE
Importing from USA
Importing from United Kingdom
Importing from Yemen
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%)