MIRA
INFORM REPORT
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Report Date : |
10.10.2007 |
IDENTIFICATION DETAILS
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Name : |
KAFATEX INDUSTRIAL INC |
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Registered Office : |
14FL, |
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Country : |
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Date of Incorporation : |
26.06.1978 |
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Com. Reg. No.: |
30856360 |
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Legal Form : |
Private Company |
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Line of Business : |
Engaged in importing and domestic sales of chemical products. |
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 : |
USD 15,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
KAFATEX INDUSTRIAL
INC
14FL,
TEL : 886-2-22527121
FAX : 886-2-22527110
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 26, 1978
REGISTRATION NO. :
30856360
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. YUNG-SHENG KAO (CHAIRMAN)
STAFF STRENGTH :
7
CAPITAL :
US$ 551,302
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : TWD 32.93387 = 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 –
*Company Registration*
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License number : 30856360
Date issued : 26 June, 1978
Issuing authority : Ministry of Economic Affairs
(MOEA)
*Office & Facilities*
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Size : 219.8 sq. meters (Approx.)
Location :
Property status : Rented by KAFATEX INDUSTRIAL INC
Type of building : Commercial
building
Comment : Premises is shared with the following
affiliate companies :
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INMAX INDUSTRIAL CO LTD
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WAVELIT INT'L CO LTD
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ZIMI CHEMICALS CO LTD
*Corporate & Organization Structure*
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A small-sized company, mainly operated and managed by the owner.
*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.kafatex.com
the design is professional and the content is well organized. At present it is
in Chinese version.
E-mail: zimigp@tpts6.seed.net.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholder's Name %
of Shares
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Mr. Yung-sheng Kao
99.00
Undisclosed shareholder
1.00
Management: Mr. Yung-sheng Kao, General Manager
Name Nationality Job Description
Mr. Yung-sheng Kao Taiwanese General Manager -
*Key Personnel*
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Mr. Yung-sheng Kao
Founder : Sole-founder
Work experience : More than 25 years
Resident status :
Responsibilities : Handles the daily operation of the firm
including all financials and legal matters.
*Main Products & Services*
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Specializes in importing and domestic sales of chemical products.
Products: Disodium carbonate
Hydrogen
peroxide
Industrial machinery
Industrial
chemicals
Disodium
carbonate
*Payment Terms*
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Sales
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Local : Cash, 30-60 days credit
Purchases
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Local : Cash, 30-90 days
credit
Imports : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products:
- AMETECO INDUSTRIES INC
- BIG KWER ENTERPRISE CORP
- CHARSON TRADING CO LTD
- ELANC CHEMICAL CO LTD
- FENG KAO INDUSTRIAL CO LTD
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales
only.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : HIFORCE
CHEMICALS CO LTD
Address :
Country :
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Manufacturer
Industry :
Chemicals
Company Name : INMAX
INDUSTRIAL CO LTD
Address :
14Fl,
Country :
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Importer
Industry :
Chemicals
Company Name : WAVELIT
INT'L CO LTD
Address :
14Fl,
Country :
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type : Trader
Industry :
Chemicals
Company Name : ZIMI
CHEMICALS CO LTD
Address :
14Fl,
Country :
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type : Trader
Industry :
Chemicals
PAYMENT
RATING :3 OBTAINED SCORES : 56
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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
*Int´l Trade Activity (Currency:
==============================
Year Imports Exports Total
2003 $600,000.00 $0.00 $600,000.00
2004 $700,000.00 $0.00 $700,000.00
2005 $800,000.00 $0.00 $800,000.00
Over the past 29 years, SC has made a fairly stable growth. It is
considered a credit line up to USD 15,000 appears to be within SC’s capacities
upon a periodical review basis.
ATTACHED: TRADE REFERENCES
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2800 Chemicals
and Allied Products
Importing 2819 Industrial
inorganic chemicals,
Importing 2899 Chemical
preparations,
Importing 3569 General
industrial machinery and equipment, and parts,
Trading 2800 Chemicals
and Allied Products
Trading 2819 Industrial
inorganic chemicals
Trading 2899 Chemical
preparations,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2836200000 Disodium
carbonate
Importing 2847000000 Hydrogen
peroxide, whether or not solidified with urea
Importing 3800 Miscellaneous
chemical products
Importing 8479 Machines
etc having individual functions, parts
Trading 2836200000 Disodium
carbonate
Trading 2847000000 Hydrogen
peroxide, whether or not solidified with urea
Trading 3800 Miscellaneous
chemical products
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trading Hydrogen peroxide
Trading Industrial chemicals
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from
Importing from
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%)