MIRA
INFORM REPORT
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Report Date : |
13.09.2007 |
IDENTIFICATION DETAILS
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Name : |
CHIN PU JIR ENTERPRISE CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
January 28, 1999 |
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Com. Reg. No.: |
16850132 |
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Legal Form : |
Private |
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Line of Business : |
Imports of stainless steel coil and other steel related
raw materials. Value-added processing of stainless steel and steel coil. Exporting and domestic sales of finished 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 : |
Up To USD 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
CHIN PU JIR ENTERPRISE CO LTD
TEL : [+886] 3-4604318
FAX : [+886] 3-4604847
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 28, 1999
REGISTRATION NO. :
16850132
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. A-CHIN LU (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 694,864
BUSINESS LINE :
MANUFACTURER
TURNOVER :
US $3,168,077.39 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.0638 = US$1 AS OF
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M – million
TWD –
*Machinery & Equipment*
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Machinery/Equipment include:
- Rolling machine
- Rolling machine
- Shipment
- Spooling machine
- Hardness tester
- Salt Spray tester
*Office & Facilities*
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Size
: 120 sq. meters (Approx.)
Location
: Taoyuan Hsien
Property status
: Rented
Type of building : Industrial building
Comment
: Serves as office, warehouse and factory.
Previous Contact Detail
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Previous :
*Factories, Size & Locations*
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Although the company does not maintain an actual
manufacturing license, it is understood, the owners do maintain a processing
facility.
*Corporate & Organization Structure*
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A small-sized company 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.cpj.com.tw
SC’s website is unable to be
landed at present for the technical reason.
Email : ccpj@ms58.hinet.net
For the past 8 years there is no record of litigation.
*Major Shareholders*
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Shareholder's Name No. of Shares
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Mr. A-chin Lu 12,150,000
Management : Mr. Cheng-sheng Shao, Representative
Name
Nationality Job Description
Mr. Cheng-sheng Shao
Taiwanese Representative Sales
*Key Personnel*
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Mr. A-chin Lu
Founder
: Co-founder
Work experience : More than 10 years
Responsibilities :
Handles the daily operation of the firm including all financial and legal
matters.
Resident status :
*Main Products & Services*
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Specializes in the following areas of work :
1. Imports of stainless steel coil and other steel related
raw materials for in-house processing.
2. Value-added processing of stainless steel and steel coil,
including flat wire and strip.
3. Exporting and domestic sales of finished products.
Products : Flat wires
Stainless steel bars
Stainless steel coils
Stainless steel products
Stainless
steel rods
*Payment Terms*
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Sales
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Local : Cash
30 - 90
days credit
Export : Letter of
Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : 30 - 90 days
credit
Import : Letter of
Credit (L/C)
Telegraphic Transfer (T/T)
*Production Capacity*
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Item
Current Capacity
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Flat Wire 300
metric tons/mo
Vertebra 25,000,000-30,000,000 pcs/mo
*Competitors*
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The following locally based companies supply similar range
of products:
- TUNG HO STEEL ENTERPRISE CORP
- SAN WU STEEL INDUSTRIAL CO LTD
- SAN PONG STEEL INDUSTRIAL CO LTD
- SAN YIH STEEL CO LTD
- T S STEEL CO LTD
*Local Distribution Network*
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Approximately 80% of the annual turnover is attributed to
local sales.
*International Trade Activity*
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The primary export-import activity is focused on imports of steel coil used for in-house processing.
*Export Markets*
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Approximately 20% of the annual turnover is attributed to
export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 52
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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 local corporate
law for public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*BANK DETAILS*
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Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : TACBTWTP
*Int´l Trade Activity
(Currency:
===============================
Year
Imports
Exports Total
2004
$470,000.00
$25,000.00 $495,000.00
2005
$850,000.00
$35,000.00 $885,000.00
2006
$1,700,000.00 $450,000.00 $2,150,000.00
*Financial Summary
(Currency:
===============================
Year Sales Assets Net Income
2006
$3,168,077.39
$529,020.56
$110,338.57
SC is considered small-sized in its line with a stable
financial conditions. A credit line up to USD 50,000 would appear to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 3496 Fabricated
wire products
Manufacturing 331207 Steel Plate/Sheet/Strip
Manufacturing 3325 Steel Foundries, NEC
Manufacturing 3496 Fabricated wire products
Manufacturing 3499 Fabricated metal products
Trading 3325 Steel Foundries, NEC
Trading 3499 Fabricated metal products
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 7223000000 Wire of stainless steel
Importing 7221000000 Bars and rods, stainless steel, hot-rolled, in irregularly
wound coils
Manufacturing 7200 Iron & steel
Manufacturing
7217101000 Flat wire, iron
or nonalloy steel, not plated or coated, under 0.25 percent carbon,
not
over
Manufacturing 7218 Stainless steel in ingots etc
& semifin products
Manufacturing 7222 Bars & rods, st steel;
angles etc, stainless steel
Manufacturing
7229901000 Flat wire of
other alloy steel
Manufacturing 7326 Articles of iron or steel
Manufacturing
7326908585 Other articles of
iron or steel
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturer Flat
wires
Manufacturer Stainless
steel products
Manufacturer Steel
strips
Trader Vertebra
for wiper blade
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
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%)