MIRA
INFORM REPORT
|
Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
JIA CHARG CO LTD |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
August 12, 1983 |
|
|
|
|
Com. Reg. No.: |
36162767 |
|
|
|
|
Legal Form : |
Private Company With Limited Liability |
|
|
|
|
Line of Business : |
Importing a wide range of stainless steel and iron products. Domestic sales of its imported products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Up To US$ 80,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name &
address
JIA CHARG CO LTD
TEL : 886- 2-29834156
FAX : 886-2-29826597
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUGUST 12, 1983
REGISTRATION NO. :
36162767
LEGAL FORM : PRIVATE COMPANY WITH
LIMITED LIABILITY
CHIEF EXECUTIVE :
MR. TSENG-CHI LAI (CHAIRMAN)
STAFF STRENGTH :
25
CAPITAL :
US$ 1,508,751
BUSINESS LINE :
TRADER
TURNOVER :
US$ 4,806,529.63 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.68 = 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 –
*Licenses & Permits*
=================
License number : 99605594
Date issued : 12 May,
1993
Issuing authority : Industrial
Development Bureau - MOEA
Note: Although the company still maintains a manufacturing license in
*Office & Facilities*
===============
Size : 261 sq. meters
Location :
Facilities :
Modern
Property status : Owned by
JIA CHARG CO LTD
Type of building :
Industrial
*Corporate & Organization Structure*
=============================
A small-sized company operated and managed by an owner of the firm.
*Factories, Size & Locations*
======================
The company is a trading house focused on importation of overseas
products, and maintains no manufacturing facilities.
Note
-------
Originally the firm did maintain a manufacturing and steel processing plant, but due to high labor
costs the factory was closed, and focus shifted to only importing, storage and
local distribution of imported steel.
*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.
Email : jia.charg@msa.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Shareholder's Name % of Shares
-------------------------- -------------------
Mr. Tseng-chi Lai 99.00
Undisclosed Shareholders 1.00
*COMPANY MANAGEMENT*
=========================
Name Nationality
Job Description Dept. / Division
Ms. Jillian Lai Taiwanese
Manager Sales
Mr. Tseng-chi Lai Taiwanese
General Manager -
*Key Personnel*
=============
Mr. Tseng-chi Lai
Founder : Sole
Founder
Work experience : More than 20 years
Responsibilities : Handles the
daily operation of the firm including all financials and legal matters.
Resident status :
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Importing a wide range of stainless steel and iron products.
2. Domestic sales of its imported products.
Products : Flat bars, stainless steel
Iron boards
Iron products
Stainless steel
bars
Stainless steel
products
*Payment Terms*
=============
Sales
------
Local : Cash
30-90 days credit
Purchases
--------------
Local : Cash
30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Document against
Acceptance (D/A)
Open account/DA
terms with settlement using Telegraphic Transfer (T/T)
*Competitors*
===========
The following locally based firms supply similar range of products :
- CHEN YUEN SPECIAL METAL CORP
- FU CHI METALS CO LTD
- HO HSIN METAL INDUSTRIAL CO LTD
- KEVIN STEEL CORP
- MAXTEK GO-GO CO LTD
- CHIA FAR INDUSTRIAL FACTORY CO LTD
- GRUNDFOS TAIWAN MFG CO LTD
- DA-SONG ENTERPRISE CO LTD
- LI PANG ENTERPRISES CO LTD
- LECO TECHNOLOGY CO LTD
- CHUNG LIANG BUSINESS CO LTD
- YUEN NENG CO LTD
- STAINLESS WIRE INT'L FABRICATION TECHNOLOGIES INC
- JUN-EN ENTERPRISE CORP
*Local Distribution Network*
=======================
100% of the annual turnover is attributed to local sales.
*Domestic Customers*
==================
Most of domestic customers are factories of stainless steel bars and
other related stainless steel products used for industry.
*DOMESTIC CUSTOMERS*
======================
JIA CHENG STEEL CO LTD
*Export Markets*
=============
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)
================================
Company Name : JIA CHENG STEEL CO LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
PAYMENT RATING : 3 OBTAINED SCORES : 58
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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.
*Bank Details*
============
Bank name : FIRST COMMERCIAL
BANK
Branch : Luchou
Account no : 21340006551
Swift code : FCBKTWTP
As a private limited company with a paid-up capital or less than USD 6 million,
there is no legal requirement according to
Although financial summaries were obtained for reference.
*Financial Summary (Currency:
=================================
Year Sales Assets Net Income
2006 US$ 4,806,529.63 US$
967,351.87 US$ 172,914.15
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2003 US$ 1,500,000.00 US$ 0.00 US$ 1,500,000.00
2004 US$ 4,500,000.00 US$ 0.00 US$ 4,500,000.00
2005 US$ 5,000,000.00 US$ 100,000.00 US$ 5,100,000.00
2006 US$ 4,000,000.00 US$ 0.00 US$ 4,000,000.00
SC is considered small-sized in its line with a 24 years history. A credit
line up to US$ 80,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3316 Cold-Rolled
Steel Products
Importing 3325 Steel
Foundries, NEC
Importing 3462 Iron
& steel forgings
Manufacturing 3321 Cast
iron products, not malleable
Trading 3316 Cold-Rolled
Steel Products
Trading 3325 Steel
Foundries, NEC
Trading 3462 Iron
& steel forgings
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 721931 Flat rolled
products of stainless steel of a width of
a
thickness of
Importing 7221000005 Stainless
steel bars and rods, hot-rolled, in irregular wound coils, of high nickel
alloy
steel
Importing 7221000075 Stainless
steel bars and rods, hot-rolled, in irregular wound coils, other than high
nickel
alloy, other than circular cross section
Importing 7222 Bars
& rods, st steel; angles etc, stainless steel
Importing 7222110000 Other
bars and rods of stainless steel, hot-rolled, circular cross-section
Importing 7222110005 Other
bars and rods, stainless steel, hot-worked, circular cross-section, high-
nickel
alloy steel
Importing 7222110050 Other
bars and rods, stainless steel, hot-worked, circular cross-section, not high-
nickel
alloy steel
Importing 7222200000 Other
bars and rods of stainless steel, not further worked than cold-formed or
cold-finished
Importing 7222200030 Other
bars and rods stainless steel cold-formed or finished maximum cross-
section
less than
Importing 7222200045 Other
bars and rods of stainless steel, not further worked than cold-formed or
cold
finished, other, with max cross-sectional dimension less than
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Iron
products
Trader Iron
boards
Trader Stainless steel
bars
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)