MIRA
INFORM REPORT
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Report Date : |
06.09.2007 |
IDENTIFICATION DETAILS
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Name : |
YU-TING INDUSTRIAL CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
May 15, 2000 |
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Com. Reg. No.: |
70506946 |
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Legal Form : |
Private |
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Line of Business : |
Importation of raw materials used in stainless steel
production. Processing of imported materials into a range of
value-added stainless steel materials. |
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 500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
YU-TING INDUSTRIAL CO LTD
291 JIUN-SHENG ST
TEL: [+886] 2-86881808
FAX: [+886] 2-86881806
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY 15, 2000
REGISTRATION NO. :
70506946
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. ERIC JUI-YU HUANG (CHAIRMAN)
STAFF STRENGTH :
35
CAPITAL :
US$ 2,258,356
BUSINESS LINE : TRADING &
PROCESSING
TURNOVER :
US$66,477,093.21 (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.0500 = 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 *
====================
License number :
70506946
Date issued
: 15 May, 2000
Issuing authority
: Ministry of Economic Affairs (MOEA)
*Office & Facilities*
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Size : 490 sq. meters
(Approx.)
Location : Outer suburb of
Facilities : Modern
Property status
: Rented
Type of building
: Industrial building
Other contact details
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Tel no. : 2-86881660
Fax no. : 2-26762486
Previous Address :
*Factories, Size & Locations*
======================
Size
: 1,473 sq. meters (Approx.)
Location
: Outer suburb of
Facilities
: Modern
Type of building
: Industrial building
Property status
: Rented
*Industry Ranking*
================
Generally regarded as one of the Top 1000 Companies in
Manufacturing Industry of Taiwan.
Details of rank are as follows:
Year Rank
-------
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2005
681
*Licenses & Permits*
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License number :
9960070900
Date issued :
24 July 2001
Issuing authority : Industrial
Development Bureau, MOEA
Type of license :
Factory license
*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.yuting.com.tw The design is professional and the content
is well organized. At present it is both in Chinese and English versions.
Email : sales@yuting.com.tw
For the past 7 years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name No. of Shares
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Mr. Eric Jui-yu Huang 1,258,587
Mr. Chun-tse Cheng 1,084,240
Mr. Chieh-yuan Wang 662,500
Mr. Chieh Chang 652,174
Management : Ms. Joanne Huang, Manager
Mr. Eric Jui-yu Huang, General Manager
Name Nationality Job
Description
Ms. Joanne Huang Taiwanese Manager Sales
Mr. Eric Jui-yu Huang Taiwanese General Manager
*Key Personnel*
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(1)
Mr.Eric Jui-yu Huang
Founder
: Co-founder
Born
:
Work experience :
More than 10 years experience .
Responsibilities :
Handles the daily operation of the firm including all financials, sales and
legal matters.
Resident status :
(2)
Ms. Joanne Huang
Email address :
joanne@yuting.com.tw
*Main Products & Services*
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Specializes in the following areas of work :
1. Importation of raw
materials used in stainless steel production.
2. Processing of
imported materials into a range of value-added stainless steel materials.
Production
process includes:
- precision
slitting
- surface
polishing
- metal treatment
3. Exporting and domestic sales of finished and
semi-finished steel materials.
Product also include Ferritic-Austenitic (Duplex) stainless
steel
Products : Flat-rolled stainless steel
Tinplate
Austenitic stainless steel
Precision slitting
Martensitic
*Payment Terms*
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Sales
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Local : Cash or
credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : Cash or
credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Associations*
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Member of :-
*Competitors*
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The following locally based companies supply similar range
of products :
- CHAIN CHON INDUSTRIAL CO LTD
- CHUN YUAN STEEL INDUSTRY CO LTD
- WU JII INDUSTRY CO LTD
*Quality Certification*
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Type of certification : Mill Test Certicate
Details
: A certification for Stainlees steel sheet and coil products
*Local Distribution Network*
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10% annual turnover is attributed to local sales
*Export Markets*
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90% annual turnover is attributed to export.
*International Trade Ranking*
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The firm has been ranked among
Board of Foreign Trade (BOFT) :
Details of rank are as follows :
Year Rank
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2005
1266
*(Subsidiaries, Joint-ventures & Affiliates)
=================================
Company Name : JASON & CO LTD
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Trader
Industry : Metals & Metal Products
PAYMENT RATING : 3 OBTAINED SCORES : 70
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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 with a paid-up capital of less
than USD 6 million, there is no legal requirement according to local corporate
law for public disclosure of detailed financials. However financial summaries
were available.
*BANK DETAILS*
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Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist,
Branch Address :
SWIFT Code : CCBCTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungshan Dist,
Branch Address :
SWIFT Code : ICBCTWTP
*Financial Summary
(Currency:
================================
Year Sales Assets Net Income
2005
$66,477,093.21
$11,060,537.12
$5,036,303.32
*Int´l Trade Activity
(Currency:
================================
Year
Imports
Exports Total
2003
$220,000.00
$8,120,000.00
$8,340,000.00
2004
$270,000.00
$20,410,000.00
$20,680,000.00
2005
$1,010,000.00
$27,820,000.00
$28,830,000.00
Over the past 7 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD 500,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Manufacturing
331207 Steel
Plate/Sheet/Strip
Manufacturing
3339
Primary nonferrous metals
Manufacturing
3444 Sheet-metal structure parts
Manufacturing
3499
Fabricated metal products
Trading
331207 Steel
Plate/Sheet/Strip
Trading
3316
Cold-Rolled Steel Products
Trading
3444
Sheet-metal structure parts
Trading
3499
Fabricated metal products
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting
721912 Flat rolled products of
stainless steel of a width of 600mm or more; hot-rolled in
coils;
of a thickness of 4.75mm or more but not exceeding 10mm
Exporting
721913 Flat rolled products of stainless steel of a
width of 600mm or more; hot-rolled in
coils;
of a thickness of 3mm or more but not exceeding 4.75mm
Exporting
7219210000 Flat-rolled stainless steel 600mm wide or more
hot-rolled not coiled over 10mm
thick
Exporting
7219220000 Flat-rolled stainless steel 600mm or more wide
hot-rolled not coiled 4.75 but not
over
10mm thick
Exporting
7219230000 Flat-rolled stainless steel 600mm or more wide
hot-rolled not coiled 3 to under
4.75mm
thick
Exporting
7219240000 Flat-rolled stainless steel 600mm or more wide
hot-rolled not coiled less than
3mm
thick
Exporting
721931 Flat rolled
products of stainless steel of a width of 600mm or more; cold-rolled; of
a
thickness of 4.75mm or more
Exporting
721932 Flat rolled
products of stainless steel of a width of 600mm or more; cold-rolled; of
a
thickness of 3mm or more but less 4.75mm
Exporting
721933 Flat rolled products of stainless steel of a
width of 600mm or more; cold-rolled; of
a
thickness exceeding 1mm but less than 3mm
Exporting
721934 Flat rolled
products of stainless steel of a width of 600mm or more; cold-rolled; of
a thickness
of 0.5mm or more but less than 1mm
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturing
Stainless steel coils
Manufacturing
Stainless steel strips
Manufacturing
Stainless steel sheets
Service Surface polishing
Service Tension leveling
Trading Cold rolled steels
Trading Hot-rolled steel
Trading Metals
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to UAE
Exporting to
Importing from
Importing from
Importing from
Importing from
Importing from
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. |
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%)