MIRA
INFORM REPORT
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Report Date : |
26.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
CNC-TAKANG CO LTD |
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Registered Office : |
2FL-72 Taichung Industrial Park Alley 7 Lane 98, 1st Rd Hsitun Dist
Taichung City 407 |
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Country : |
Taiwan |
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Date of Incorporation : |
25.05. 1995 |
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Com. Reg. No.: |
89529384 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Local Purchase of various types of CNC Vertical Lathes, Precision
Lathes and other related Machinery. |
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 : |
USD 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
CNC-TAKANG
CO LTD
2FL-72 TAICHUNG INDUSTRIAL PARK ALLEY 7 LANE
98,
1ST RD HSITUN DIST TAICHUNG CITY 407, TAIWAN
TEL: 886-4-23596056 FAX: 886-4-23596064
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
25, 1995
REGISTRATION NO. :
89529384
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHIN-CHENG LIU (CHAIRMAN)
STAFF STRENGTH :
7
CAPITAL :
US$ 1,320,066
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 50,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.32511= 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 –Taiwan New Dollars
*Office & Facilities*
===============
Size : 102 square
meters (Approx.)
Property status :
Rented
Type of building :
Commercial building
Other e-mail address : cnc.takang@ms9.hinet.net
cnc.takang@msa.hinet.net
*Factories, Size & Locations*
======================
The company is a trading house focused on exportation of Taiwan made
machinery and maintains no manufacturing facilities.
*Corporate & Organization Structure*
============================
A small-sized company operated and managed by the principal owners.
Web
site: www.cnctakang.com.tw the
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
Email: takang@ms17.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: 4
Total number of shares: 3,464,940
Shareholders Country
Number Amount %
---------------- ----------- -------------- ----------- -----
Mr. Chin-cheng Liu Taiwan 866,235.00 n/a 25.00
Mr. Chin-tsung Chen Taiwan 866,235.00 n/a 25.00
Mr. Kuo-ming Lai Taiwan 866,235.00 n/a 25.00
Mr. Ming-che Kao Taiwan 866,235.00 n/a 25.00
Management: Mr. Godwin Kao,
Executive Vice President
Mr. Ming-che Kao, General Manager
Name Nationality
Job Description
Mr. Godwin Kao Taiwanese
Executive Vice President
Mr. Ming-che Kao Taiwanese
General Manager
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Local purchase of various types of CNC vertical lathes, precision
lathes and other related machinery.
2. Sales and distribution of purchased products to overseas market.
Products: CNC engraving machines
CNC lathes
CNC machine
centers
CNC vertical
lathes
CNC vertical
machining centers
*Brand*
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CNC-TAKANG
*Payment Terms*
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Sales
-------
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-90 days credit
*Exhibition Participation*
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Participated in the following local exhibitions:
(1)
Exhibition/Fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates attended : 20 March, 2001
- 25 March, 2001
Location : Taipei
World Trade Center (TWTC)
(2)
Exhibition/Fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates attended : 18 March, 2003
- 23 March, 2003
Location : Taipei
World Trade Center (TWTC)
(3)
Exhibition/Fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates attended : 15 March, 2005
- 20 March, 2005
Location : Taipei World
Trade Center (TWTC)
(4)
Exhibition/Fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates attended : 12 March, 2007
- 17 March, 2007
Location : Taipei
World Trade Center (TWTC)
*Associations*
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Member of :
- Taiwan Association of Machinery Industry (TAMI)
*Competitors*
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The following locally based firms supply similar range of products :
- HURCO MFG LTD
- BUFFALO MACHINERY CO LTD
- RAY FENG MACHINE CO LTD
- GOODWAY MACHINE CORP
- LIOUY HSING CO LTD
*Quality Certification*
=================
Products passed CE certification.
*Local Distribution Network*
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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.
NOTE:
At the time of performing this report, the 2007 export figures had not
yet been released by the Ministry of Economic Affairs which monitors exports
and imports.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
59
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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 : MEGA
INT'L COMMERCIAL BANK CO LTD
Branch :
Chungcheng Dist,Taipei City
Branch Address : 123
Jhongsiao E Rd Section 2
SWIFT Code :
ICBCTWTP
Bank Name :
TAIWAN COOPERATIVE BANK
Branch :
Chungcheng Dist,Taipei City
Branch Address : 77
Kuan Chien Rd
SWIFT Code :
TACBTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Net
Income
2006 $13,694,074.97 $362,756.95
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2004 $12,364.99 $5,102,361.98 $5,114,726.97
2005 $15,631.97 $8,213,623.98 $8,229,255.95
2006 $21,364.99 $9,123,684.98 $9,145,049.97
SC is considered small-sized in its line with a long history. Taking
into consideration of SC’s general performance, a credit line up to USD 50,000
appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3500 Industrial
Machinery & Equipment
Trading 3549 Metalworking
machinery
Trading 3569 General
industrial machinery and equipment, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8456300000 Machine tools for working any material by removal of material
by electro-
discharge
processes
Exporting 8458110010 Horizontal lathes, multiple spindle, metal removing,
numerically controlled, new
Exporting 8458991050 Vertical turret lathes, metal removing, except numerically
controlled, new
Exporting 8458995030 Lathes for removing metal, except numerically controlled, used
or rebuilt
Exporting 8459210040 Drilling machines, metal removing, numerically controlled, used
or rebuilt
Exporting 8459690050 Milling machines, metal removing, except numerically
controlled, profile,
duplicating
or die sinking, valued $3,025 and over each, new
Exporting 8466937000 Parts for machines of headings 8456 to 8461 other than
cast-iron parts and other
than
metalworking machine tools for cutting gears
Exporting 8466940000 Parts for machines of heading 8462 or 8463
Trading 8458 Lathes
for removing metal
Trading 8479 Machines
etc having individual functions nesoi, parts
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader CNC engraving
machines
Trader Conventional
lathes
Trader Double turret
CNC lathe
Trader Gang tool cnc
lathes
Trader Industrial
machinery
Trader Lathe, heavy
duty
Trader Oil country
lathes
Trader Vertical
machine
Trader Turret cnc
lathes
Trader Teach-in
lathes
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Africa
Exporting to Argentina
Exporting to Asia
Exporting to Australia
Exporting to Belgium
Exporting to Brazil
Exporting to Canada
Exporting to Chile
Exporting to China
Exporting to Colombia
Exporting to Czech Republic
Exporting to Europe
Exporting to Finland
Exporting to France
Exporting to Germany
Exporting to India
Exporting to Indonesia
Exporting to Iran
Exporting to Ireland
Exporting to Italy
Exporting to Latvia
Exporting to Malaysia
Exporting to Morocco
Exporting to Myanmar
Exporting to Netherlands
Exporting to North America
Exporting to Oceania
Exporting to Portugal
Exporting to Russia
Exporting to Singapore
Exporting to South Africa
Exporting to South Korea
Exporting to Sri Lanka
Exporting to Sweden
Exporting to Thailand
Exporting to Turkey
Exporting to UAE
Exporting to USA
Exporting to Vietnam
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%)