MIRA
INFORM REPORT
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Report Date : |
28.09.2007 |
IDENTIFICATION DETAILS
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Name : |
HONG YUN INT'L CO LTD |
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Registered Office : |
13FL-A1, 65 Lane |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
November 26, 2001 |
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Com. Reg. No.: |
13160090 |
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Legal Form : |
Private |
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Line of Business : |
Domestic purchases and imports of a wide range of stainless
steel and other steel related products. Exports and domestic sales of stainless steel products. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Up To USD 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name &
address
HONG YUN INT'L CO LTD
13FL-A1, 65 LANE 189 MENG CHI RD TSOYING DIST
TEL : [+886] 7-3503300
FAX : [+886] 7-3491518
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 26, 2001
REGISTRATION NO. :
13160090
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. KUO-CHING TAI (CHAIRMAN)
STAFF STRENGTH :
12
CAPITAL :
US$ 543,150
BUSINESS LINE :
TRADER
TURNOVER :
US$8,721,281.74 (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 32.8585 = 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 –
*Main Products & Services*
=====================
Specializing in the following main areas of work:
1. Domestic purchases and imports of a wide range of
stainless steel and other steel related products.
2. Outsourcing to local factories with value-added
processing of stainless steel and steel coil , including stainless steel shape
tube.
3. Exports and domestic sales of stainless steel products
which have been processed by local factories.
*Office & Facilities*
================
Size
: 99sq meters (Approx)
Location
:
Property status :
Owned by HONG YUN INTERNATIONAL CO LTD
Type of building :
Semi-residential building
Other tel nos :
7-3507891, 7-3507381
*Factories, Size & Locations*
======================
The company is a trading house focused on importation of
overseas products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
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A small-sized specialized 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.hyintl.com.tw
The design is professional and
the content is well organized. At present it is both in Chinese and English
versions.
Email : hyintl@seed.net.tw
For the past 6 years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name No. of Shares
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Mr. Kuo-ching Tai 832,000
Ms. Yen-ling Tai 225,000
Ms. Mei-feng Lin 275,000
Mr. Yen-jen Wang 300,000
Management : Mr. Tony Hsu, Manager
Mr. Kuo-ching Tai, General Manager
Name Nationality Job Description
Mr. Tony Hsu
Taiwanese Manager Sales
Mr. Kuo-ching Tai
Taiwanese General Manager
*Key Personnel*
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(1)
Kuo-ching Tai
Resident status :
Founder
: Co-founder
Work experience :
More than 6 years
Responsibilities :
Daily operation of the firm including all financial and legal matters.
(2)
Tony Hsu
Tel no
: 7-3503300 ext : 12
Products : Cold formed checker plates
Flanges
Flat
rolled steel products
Plate
coils
Square tube
*Payment Terms*
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Sales
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Local : 30 - 90 days
credit
Cash
Export : Letter of Credit (L/C)
Document
against Acceptance (D/A)
Telegraphic Transfer (T/T)
Purchase
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Local : 30 - 90 days
credit
Import : Letter of Credit (L/C)
Document against Acceptance (D/A)
Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range
of products:
- SHENG IANG INDUSTRIAL CO LTD
- THREE LIN & K INT'L CORP
- TITA STEEL CO LTD
- VOKO STEEL ENTERPRISE CO LTD
- HOW LANE CO LTD
*Domestic Customers*
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Most of domestic customers are factories which are steel
measuring products, including Stainless steel sheet and cold forming checker
plate.
*Local Distribution Network*
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An estimated 20% of the annual turnover is attributed to
local sales.
*Export Markets*
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An estimated 80% 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 : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address : 10Fl,
SWIFT Code : FCBKTWTP
Bank Name : KING'S TOWN BANK
Branch : Central Dist,
Branch Address :
SWIFT Code : This bank does not have a SWIFT Code
*Int´l Trade Activity (Currency:
==============================
Year Imports Exports Total
2004
$300,000.00
$800,000.00 $1,100,000.00
2005
$1,500,000.00
$2,000,000.00 $3,500,000.00
2006
$1,500,000.00
$7,000,000.00 $8,500,000.00
*Financial Summary (Currency:
===============================
Year Sales Assets Net Income
2006
$8,721,281.74
$219,165.66 $87,666.26
SC is considered small-sized in its line with an acceptable
base to come into credit dealings of small amount.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 3316 Cold-Rolled
Steel Products
Exporting 3325 Steel
Foundries, NEC
Importing 3316 Cold-Rolled
Steel Products
Importing 3325 Steel
Foundries, NEC
Trading 331207 Steel Plate/Sheet/Strip
Trading 3316 Cold-Rolled Steel Products
Trading 3317 Steel Pipe & Tubes
Trading 3325 Steel Foundries, NEC
Trading 3400 Fabricated Metal Products
Trading 3914 Silverware, plated ware, and stainless steel ware
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 721912 Flat
rolled products of stainless steel of a width of
coils;
of a thickness of
Exporting 721913 Flat
rolled products of stainless steel of a width of
coils;
of a thickness of
Exporting 721914 Flat
rolled products of stainless steel of a width of
of
less than
Exporting 721932 Flat
rolled products of stainless steel of a width of
a
thickness of
Exporting 721933 Flat
rolled products of stainless steel of a width of
a
thickness exceeding
Exporting 721934 Flat
rolled products of stainless steel of a width of
a
thickness of
Exporting 721935 Flat
rolled products of stainless steel of a width of
a
thickness of less than
Importing 721933 Flat
rolled products of stainless steel of a width of
a
thickness exceeding
Importing 721934 Flat
rolled products of stainless steel of a width of
a
thickness of
Importing 721935 Flat
rolled products of stainless steel of a width of
a
thickness of less than
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Importer Stainless
steel, hot rolled
Trader Cold
formed checker plates
Trader Stainless
steel sheets
Trader Plate
coils
Trader Strips
Trader Stainless
steel pipes
Trader Stainless
steel tubes
Trader Stainless
steel forged flanges
Trader Square
tube
Trader Flanges
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
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%)