MIRA
INFORM REPORT
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Report Date : |
08.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHIAPHUA COMPONENTS LTD |
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Registered Office : |
4FL, 6 On Lok Mun St On Lok Tsuen Fanling New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.03.1980 |
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Com. Reg. No.: |
0079327 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Specializes in exporting electric motors for household appliances,
personal care, power tools, floor care and office equipment. |
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 : |
No Complaints |
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Litigation : |
Exists |
name & address
CHIAPHUA
COMPONENTS LTD
4FL, 6 ON LOK MUN ST
ON LOK TSUEN FANLING NEW TERRITORIES, HONG
KONG.
TEL: 852-31250000 FAX: 852-31250125
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 4, 1980
REGISTRATION NO. :
0079327
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. HERBERT SHU-ON CHENG (CHAIRMAN)
STAFF STRENGTH :
75
CAPITAL :
US$ 6,641,388
BUSINESS LINE :
EXPORTER
TURNOVER :
$100,000,000 (AS OF 2005)
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 500,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79037 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –Hong Kong Dollars
*Company History*
===============
1989
- Tied-up with MATOBA ELECTRIC MFG CO LTD in Japan to further enhance
its manufacturing know-how.
1994 -
Established CCL INDUSTRIAL MOTOR LTD (CIM).
May 2003 - Production activities were transferred to the new
factory in Shajing, with a total size of 60,000 sq. meters and 4,000 workers.
31 January, 2006 - The Canadian subsidiary, CHIAPHUA COMPONENTS NA LTD has
ceased to operate due to the consolidation of all North American operations at
the new subsidiary located just 26 miles west of New York City.
1 February, 2006 -
Established CHIAPHUA COMPONENTS NORTH AMERICA INC.
13 September, 2007 - Reported that the company is
about to open a new R&D centre in Shenzhen Hi-tech Industrial Park,
Guangdong PRC - an area dedicated to high-tech and research organizations in
China.
*Company Registration*
==================
(1)
License number : 0079327
Date issued : 4 March, 1980
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 06510384-000
Date issued : N/A
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Company Name*
==============
Incorporated as :
INTERNATIONAL PIEZO LTD
Date of incorporation : 4 March, 1980
Changed name to : CHIAPHUA
COMPONENTS LTD
Date of change : 24
November, 1987
*Capital Details*
=============
Authorized capital: HKD 51,670,000.00 divided into 516,700 (516,600
non-voting and 100 ordinary) shares of HKD 100.00/-each, fully paid
*Office & Facilities*
===============
Other Contact Details
-----------------------------
Tel nos. :
27726313 / 27220919
Fax no :
27727441
Emails : - cclsales@chiaphua.com
Website : - www.globalsources.com/cclmotors.co
Previous address: 6Fl Block A 24 Sze Shan St Yau Tong Kowloon
*Factories, Size & Locations*
======================
Note: The company is a trading house which out-sources all orders to its
affiliate factory located in Shenzhen, China. Hence there are no production
facilities directly owned by the company.
*Corporate & Organization Structure*
============================
A large sized company mainly operated and managed by an experienced team
of professionals.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
=================
Only Ms. Sheliah Chatjaval Cheng can sign on behalf of the company with
seal affixed.
*Awards*
========
Award : Whirlpool
Corporation Supplier Performance Award
Year : 2003
www.cclmotors.com
The design is professional and the content is well organized. At present it is
in English version.
E-mail: sales@cclmotors.com
Litigation ( 1 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SINO-SKY
SIGNS (HONG KONG) LTD
Case Issue : A petition to the Court to rule over a labour dispute
(filed under case no. SCTC44007/2000)
Court : District Court, Hong Kong
Date Commenced : 31 October, 2000
Status : Not stated
Litigation ( 2 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong Wai-leung
Hung
Plaintiff Hong Kong Mei-shan
Szeto
Plaintiff Hong Kong Shing-yin
Hung
Case Issue : A petition was filed to the Court claiming for damages
(filed under case no. A2447/2001)
Court : High Court, Hong Kong
Date Commenced : 31 May, 2001
Status : Not stated
Litigation ( 3 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong Man-chuen
Choi
Case Issue : A petition to the Court claiming damages for personal injury
(filed under case no. DCPI909/2004)
Court : District Court, Hong Kong
Date Commenced : 13 September, 2004
Status : Not stated
Litigation ( 4 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong WINSON STAR
CO LTD
Plaintiff Hong Kong WINSON STAR
CO LTD
Plaintiff Hong Kong WINSON STAR
CO LTD
Plaintiff Hong Kong WINSON STAR
CO LTD
Plaintiff Hong Kong WINSON STAR
CO LTD
Case Issue : A petition to the court claiming money due amounting to USD
60,000.00 (filed under case no. A2517/1996).
Court : High Court, Hong Kong
Date Commenced : 5 March, 1995
Status : Not stated
*Major Shareholders*
================
Total number of shareholders: 2
Total number of shares
: 516,700
Shareholders' Name Type of Shares
No. of Shares Amount of Shares
(HKD) %
of Shares
----------------------- -------------------- ---------------- ------------------------------- ----------------
CHIAPHUA ELECTRIC LTD
Non-voting Deferred
516,600
51,660,000.00
100.00
Ordinary 99 9,900.00
Herbert Shu-on Cheng Ordinary 1 100.00 -
Management: Ms. Emily Y. W.
Cheung, Analyst
Mr. Brian K. K. Li, Manager
Mr. Sidney Cheng, Managing Director
Name Nationality
Job Description Dept. / Division
Ms. Emily Y. W. Cheung Hong
Kong Analyst Marketing
Mr. Brian K. K. Li Hong
Kong Manager Sales
Mr. Sidney Cheng Hong
Kong Managing Director -
*Main Products & Services*
=====================
Specializes in exporting electric motors for household appliances,
personal care, power tools, floor care and office equipment.
Products: AC/DC motors
Automotive
Batteries
Breadmakers
Can crushers
*Payment Terms*
==============
Sales
------
Export : Letter of Credit (L/C)
Purchases
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Import : Letter of Credit (L/C)
*Quality Certification*
=================
Obtained the following certifications:
(1)
Type of certification : ISO 9001:2000
Date of certification :
September 2001
Issuing authority : SGS-UKAS
(2)
Type of certification : ISO 14000
Date of certification : April
2004
Details :
Such certification was given for Environmental Management System (EMS) elements
into the management policy.
(3)
Type of certification : UNDERWRITERS LABORATORIES INC (UL)
Details :
- Motors; category PRGY2; UL file no. E71778
- Motors Certified for Canada;
category PRGY8; UL file no. E71778
- Impedance Protected Motors; category XEIT2; UL file no. E77100
- Impedance Protected Motors Certified for Canada; category XEIT8; UL
file no. E77100
- Motor Protective Devices, Inherent Overheating Type; category XEWR2;
UL file no.E68813
- Motor Protective Devices, Inherent Overheating Type Certified for
Canada; category XEWR8; UL file no.E68813
- Systems, Electrical Insulation; category OBJY2; UL file no. E182655
- Insulation Systems, Electrical, Certified in Accordance with IEC
- Publications; category ODCA2; UL file no. E182655
(4)
Type of certification : VDE Testing and Certification Institute
Certification No Series
-------------------------------------
40006886 SA-16V
40008105 SA13V,
SA-20V
40008115 SA-25V
(5)
Type of certification : QS-9000:1998
Date issued : May
2006
*Associations*
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Member of:
- Hong Kong General Chamber of Commerce
*Competitors*
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The following locally based firms supply similar range of products:
- MABUCHI INDUSTRY CO LTD
- SUN MOTOR MANUFACTORTY LTD
- SANYO EELECTRIC (HONG KONG) LTD
*Local Distribution Network*
=======================
There is no record of local sales since the prime focus of the firm's
activity is concentrated on exports only.
*Export Markets*
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100% of the annual turnover is attributed to export
*(Subsidiaries, Joint-ventures & Affiliates)
================================
Company Name : ALMARK INDUSTRIEVERTRETUNG
Address : Unterfeldstrasse 19 Garmisch-Partenkirch 82467 Germany
Country : Germany
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : CCL INDUSTRIAL MOTOR LTD
Country : Hong Kong
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : CHIAPHUA (SHENZHEN) COMPONENTS CO LTD
Address : Jiangang Village Shajing Town Baoan Dist Shenzhen Guangdong
China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electrical Equipment & Appliances
Company Name : CHIAPHUA COMPONENTS (NORTH AMERICA) LTD
Address : 309/311 Lesmill Rd Toronto M3B 2V1 Ontario Canada
Country : Canada
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : CHIAPHUA COMPONENTS NORTH AMERICA INC
Address : 30 Technology Drive Warren 07059 New Jersey USA
Country : USA
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : MERCIA PRODUCTS
Address : 2A Beechwood Park Hemel Hempstead HP30DY Hertfordshire United
Kingdom
Country : United Kingdom
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
*Subsidiaries, Joint-ventures & Affiliates*
================================
Maintains a total of 2,500 employees.
*OVERSEAS AGENTS AND DISTRIBUTORS*
=====================================
Agent : WORLD BUYING SERVICE INC
Country of Origin : USA
Agent : MARCUS SALES ASSOCIATES INC
Country of Origin : USA
Agent : MERCIA PRODUCTS
Country of Origin : United Kingdom
Agent : ALMARK INDUSTRIEVERTRETUNG
Country of Origin : Germany
PAYMENT RATING : 3 OBTAINED SCORES :
60
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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 there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank Name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch : Central, Hong Kong
Branch Address : 9Fl HSBC Main Bldg 1 Queen's Rd
SWIFT Code : HSBCHKHH
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales
2005 $100,000,000.00
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2005 n/a $100,000,000.00
$100,000,000.00
CREDIT OPINION: USD 500,000
SC is considered medium-sized in its line with a long history. A credit
line at the above amount appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3053 Gaskets,
packing, and sealing devices
Exporting 3511 Turbines
and turbine generator sets
Exporting 3544 Special
dies, tools, jigs, and fixtures
Exporting 3545 Machine
tool accessories, and parts,
Exporting 3556 Food
products machinery, and parts,
Exporting 3600 Electronic
& Electric Equip.
Exporting 3613 Switchgear
and switchboard apparatus, and parts,
Exporting 3621 Electric
motors, generators, generator sets, rotating converters, and parts and
accessories,
Exporting 3634 Electro-mechanical
household type appliances, and electro-thermic appliances, and parts &
accessories,
Exporting 3639 Household
appliances, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Exporting 3926904500 Gaskets,washers & other seals
Exporting 8438 Mach,
ind prep of food or drink etc, parts
Exporting 8501 Electric
motors and generators (no sets)
Exporting 8501203000 Electric motors, ac/dc universal, > 74.6w (1/10 hp) but <
746w (1 hp)
Exporting 8501205000 Universal ac/dc elec motors exceeding 735w but under 746w
Exporting 8506800000 Primary batteries
Exporting 8509200000 Electric domestic floor polishers
Exporting 8509400020 Electric domestic food mixers
Exporting 8509400030 Electric domestic juice extractors
Exporting 8509800040 Electric domestic can openers incl combination units
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Electric
motors
Exporter Batteries
Exporter Industrial
electronic products
Exporter Electric home
appliances
Exporter Soybean milk
makers
Exporter Cappucino
machines
Exporter Can
crushers
Exporter Induction
cooker
Exporter Breadmakers
Exporter Pasta
maker
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Europe
Exporting to Germany
Exporting to North America
Exporting to USA
Exporting to United Kingdom
Importing from Asia
Importing from China
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%)