MIRA
INFORM REPORT
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Report Date : |
10.09.2007 |
IDENTIFICATION DETAILS
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Name : |
JON WAI MACHINERY WORKS CO LTD |
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Registered Office : |
11FL-3,
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Country : |
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Date of Incorporation : |
January
13, 1982 |
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Com. Reg. No.: |
69706191 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Manufacturing and
exporting injection moulding machines. |
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 : |
USD300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
JON
WAI MACHINERY WORKS CO LTD
11FL-3,
TEL :886-2-25954867
FAX :886-2-25932358
EXECUTIVE SUMMARY
INCORPORATION
DATE : JANUARY 13, 1982
REGISTRATION
NO. : 69706191
LEGAL
FORM : PRIVATE
LIMITED COMPANY
CHIEF
EXECUTIVE : MR. ROBIN
HSU-TENG PAN (CHAIRMAN)
STAFF
STRENGTH : 150
CAPITAL : US$
4,900,459
BUSINESS
LINE : MANUFACTURER
TURNOVER : N/A (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 32.92000 =
US$1 AS OF 2007-1-29
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
*Company History*
===============
October 1998 - Opened the NTD 0.5 billion
plant in
*Company
Registration*
===================
License number :
69706191
Date issued :
13 January, 1982
Issuing
authority : Ministry of Economic Affairs (MOEA)
*Office &
Facilities*
===============
Size : 181 sq meters
Location :
Property
status : Owned by JON WAI MACHINERY WORKS CO LTD
Facilities : Modern
Type of
building : Commercial
Other email address
: jonwai.mc@msa.hinet.net
*Factories, Size
& Locations*
========================
Land area :
6,600 ping
*Reputation*
==========
Reference checking
for the purpose of establishing the firm's reputation within the respective
industry failed to reveal any negative information.
Web
site: www.jonwai.com.tw The design is professional and the content is
well organized. At present it is in English version.
Email : jonwai@tpts5.seed.net.tw
For the past two
years there is no record of litigation.
*Major
Shareholders*
=================
Shareholders' Name No. of Shares
---------------------------
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Mr. Robin Hsu-teng
Pan 1,803,147
Mr. Shou-jen
Pan
1,803,147
Mrs. Pi-chu Pan
Yeh
974,310
Mr. Lung-ta
Cheng
473,520
Mr. Su-ching Pan
Cheng 196,000
Name Nationality
Job Description
Mr. Johnson
Chiang-sheng Chang Taiwanese Manager Sales
Mr. Lung-ta Cheng Taiwanese General Manager
*Key Personnel*
============
Mr. Robin Hsu-teng
Pan
Founder :
Co-founder
Work
experience : More than 20 years.
Resident
status :
Responsibilities :
Handles the daily operation of the firm including all financials and legal
matters.
*Main Products
& Services*
======================
Specializes in
manufacturing and exporting injection moulding machines.
Products : Evaporative air coolers
Industrial
robots
Injection
molded parts
Regulating
instrument parts
Injection
moulding machines
Brand Jon Wai
*Payment Terms*
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Sales
------
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)
Telegraphic Transfer (T/T)
*Competitors*
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The following
locally based companies supply similar range of products :
- ASIAN PLASTIC
MACHINERY CO LTD
- ACCUTECH MACHINERY
CO LTD
- CHUAN LIH FA
MACHINERY WORKS CO LTD
- MULTIPLAS
ENGINERY CO LTD
*Production
Capacity*
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Item : Plastic injection molding machines
Current
capacity : 700 sets/year
*Exhibition Participation*
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Participated in the
following local exhibitions :
(1)
Exhibition fair :
Date attended : 30 September - 4
October, 1999
Location :
Taipei World Trade Center Exhibition Hall
(2)
Exhibition
fair :
Dates attended : 18-21 March, 2004
Location :
*Associations*
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Member of :
-
*Machinery &
Equipment*
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300-600 units of
machines ranging up to 4,000 tons.
*Quality
Certification*
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Type of
certification : ISO 9001
Issuing
authority : DNV
Received CE certification.
*Technologies
Developed and/or Acquired*
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Technology
developed : Two-staged
injection molding
Model :
SD Series
Year developed :
2001
Specifications :
Ideal for making plastic containers for jelly, pudding and yogurt.
*Local Distribution
Network*
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10% of the annual
turnover is attributed to local sales.
*Export Markets*
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90% of the annual
turnover is attributed to export.
*International
Trade Ranking*
======================
The firm has been
ranked among
Details of rank are
as follows :
Year Rank
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1997 1993
*LOCAL BRANCHES
& MANAGEMENT*
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Branch : JON WAI MACHINERY
WORKS CO LTD
Branch Address : 9Fl-1,
Branch Tel : [+886] 2-26006312
Branch Fax : [+886] 2-26006313
*Subsidiaries,
Joint-ventures & Affiliates*
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Maintains 35
overseas service stations, sales and service centers cover over 50 countries
around the world:
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Middle-East
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Asia and
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- Hongkong
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*Branches*
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Maintains five
local sales offices
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
*Financial
Summary (Currency:
===============================
Year Sales
Assets Net Income
2004 $26,706,766.92 $31,338,345.86 $484,210.53
*Int´l Trade
Activity (Currency:
==============================
Year Imports Exports
Total
1992 $0.00 $4,500,000.00
$4,500,000.00
1996 $300,000.00 $9,500,000.00
$9,800,000.00
1997 $0.00 $25,000,000.00
$25,000,000.00
1998 $400,000.00 $11,200,000.00
$11,600,000.00
2003 $191,634.98 $15,322,610.99
$15,514,245.97
2004 $286,216.99 $17,849,944.00
$18,136,160.99
2005 $1,159,163.98 $16,219,332.99 $17,378,496.97
Over the past 25
years, SC has made a stable growth with satisfactory profit. It is considered a
credit line up to USD300,000 appears to be within SC’s capacities.
ATTACHED: TRADE REFERENCES
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 3500 Industrial Machinery &
Equipment
Manufacturing 3543 Molders' patterns for the
manufacture of castings
Manufacturing 3559 Special industry machinery, and
parts
Trading 3500
Industrial Machinery &
Equipment
Trading 5084
Industrial Machinery/Equip
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8419
Machinery etc for temp
change treat mat; w heat, parts
Exporting 8477106010
Injection-molding machines of a type
used for processing rubber or other
thermosetting
materials
Exporting
8477800000 Machinery, for working rubber or plastics
or for the manufacture of
products
form these materials
Exporting 8479500000
Industrial robots
Exporting 8479600000
Evaporative air coolers
Exporting 8480711000
Injection or compression type molds
for rubber or plastics, for shoe
machinery
Exporting 8481801010
Hand operated taps, cocks, valves
and similar appliances of copper,
having
a pressure rating under 850 kpa (123 lbs pressure)
Importing 9032900000
Parts and accessories of automatic
regulating or controlling instruments
and
apparatus
Manufacturing 8419895070
Industrial machinery, plant or
equipment for the treatment of rubber and
plastics,
involving a change in temperature
Manufacturing 8422309030
Vacuum or gas packaging machines for
filling, whether or not capable of
performing
other operations
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Exporting Rubber
injection molding
Manufacturing Auxiliary
machinery
Manufacturing Blow-molding
machines
Manufacturing Injection
moulds
Manufacturing
Manufacturing Machine
turnkey project
Manufacturing Precision
machine components
Manufacturing Plastic
moulding machines
Manufacturing Plastic
molds
Manufacturing Plastic
injection molding m/c
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
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
Exporting to
Exporting to
Exporting to
Importing from
Importing from
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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%)