MIRA
INFORM REPORT
|
Report Date : |
08.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FREEPORT MACHINERY CO LTD |
|
|
|
|
Formerly Known as : |
SUNNY MACHINERY CO LTD |
|
|
|
|
Registered Office : |
560 Meikao Rd Section 2 Yangmei Chen Taoyuan Hsien 326 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
26.11.1980 |
|
|
|
|
Com. Reg. No.: |
34436025 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturing of various types of Machineries. Selling to both Domestic and International markets through SUNNY
MACHINERY CO LTD. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 70,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name & address
FREEPORT
MACHINERY CO LTD
560 MEIKAO RD SECTION 2 YANGMEI CHEN
TAOYUAN HSIEN 326, TAIWAN
TEL: 886-3-4905015 FAX: 886-3-4902827
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 26, 1980
REGISTRATION NO. :
34436025
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MRS. TUAN-MEI TSAI LIN (CHAIRMAN)
STAFF STRENGTH :
40
CAPITAL :
US$ 621,118
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 70,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.49831 = 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
Previous Name: SUNNY MACHINERY CO LTD
*Licenses & Permits*
================
License number : 9962478301
Date issued : 11 December,
1989
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
===============
Size :
3,354 square meters (Approx)
Location : Taoyuan
Hsien
Property status : Owned by
SUNNY MACHINERY COMPANY LIMITED
Type of building : Industrial
building
Comment : Serves as
office and factory
Other contact details
-----------------------------
Tel no : 3-4906706-8
E-mail : freeport@seed.net.tw
Previous Contact Details
---------------------------------
Address : Tucheng Industrial
Park 16 Tze Chiang St Peipo Village 236 Tucheng City Taipei
Tel no : 2-22606823
Fax no. : 2-22603426
*Corporate & Organization Structure*
=============================
A medium sized company operated and managed by an experienced team of
professionals.
www.sunnyfreeport.com
The design is professional and the content is well organized. At present it is
in English version.
E-mail: freeport@ms25.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 4
Total number of shares: 2,000,000
Shareholders Country Number Amount %
Mrs. Tuan-Mei Tsai Lin Taiwan
1,114,286.00 n/a 55.71
Mr. Chiao-jung Tsai Taiwan 400,000.00 n/a 20.00
Mr. Wen-ta Tsai Taiwan 285,714.00 n/a 14.29
Ms. Shou-mei Lin Taiwan 200,000.00 n/a 10.00
Management: Mr. Justina Ling-hua Yang, Manager
Name Nationality
Job Description Dept. / Division
Mr. Justina Ling-hua Yang Taiwanese
Manager Sales
*COMPANY DIRECTORS*
=====================
1
Name :
Mrs. Tuan-Mei Tsai Lin
Nationality :
Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Manufacturing of various types of machineries.
2. Selling to both domestic and international markets through SUNNY
MACHINERY CO LTD.
Products also include:
- Single Head Double (Column Precision Grinder)
- Surface and vertical wheel (axle type)
- Planners/planning
Products: CNC grinding machines
CNC surface
grinders
Grinding
machines
Precision surface
grinder
Surface
grinders
*Payment Terms*
==============
Sales
------
Local : 30 - 90 days credit
Cash
Purchase
-------------
Local : 30 - 90 days credit
*Quality Certification*
===================
Obtained the following certifications :
(1)
Type of certification : CE
Approved number :
Z95-505-143-A
(2)
Type of certification : CNS
Approved number : 5720,
5721
*Exhibition Participation*
====================
Participated in the following local exhibitions:
(1)
Exhibition/Fair : TIMTOS - Taipei
Int'l Machine Tool Show
Dates attended : 20-25 March,
2001
Location : Taipei
World Trade Center (TWTC)
(2)
Exhibition/Fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates attended : 18-23 March,
2003
Location : Taipei World
Trade Center (TWTC)
(3)
Exhibition/Fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates attended : 12-17 March,
2007
Location : Taipei
World Trade Center (TWTC)
*Associations*
============
Member of :
- Taiwan Association of Machinery Industry.
*Competitors*
===========
The following locally based companies supply similar range of products :
- YL-MECHANICAL INDUSTRY CO LTD
- GIH CHYUAN MACHINERY CO LTD
- RICH SOU ENTERPRISE CO LTD
- HANDER WELL ENTERPRISE CO LTD
- SHING MAW MACHINE CO LTD
- GUANG SHUENN CORP
- HANN KUEN MACHINERY & HARDWARE CO LTD
- SHENG KUANG INDUSTRIAL CO LTD
*Local Distribution Network*
=======================
100% of the annual turnover is attributed to local sales.
*(Subsidiaries, Joint-ventures & Affiliates)
===========================
Company Name :
SUNNY MACHINERY CO LTD
Address :
560 Mei Kao Rd Section 2 Yangmei Chen 326 Taoyuan Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Trader
Industry :
Machinery
PAYMENT RATING : 3 OBTAINED SCORES :
57
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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 local corporate law for
public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*BANK DETAILS*
===============
Bank Name : BANK OF TAIWAN
Branch : Chungcheng
Dist,Taipei City
Branch Address : 120 Chung Ching South Rd Section 1 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : BKTWTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2007 $5,129,752.56 $1,810,500.91 $277,610.14
SC is considered small-sized in its line with a development history of
28 years. Taking into consideration of SC’s general performance, a credit line
up to USD 70,000 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 3541 Machine
tools, metal-cutting, and parts,
Manufacturing 3569 General
industrial machinery and equipment, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 8456100000 Machine
tools for working any material by removal of material by laser or other light
or photon beam process
Manufacturing 8460110080 Flat
surface grinding machines, metal removing, accuracy of at least 0.01 mm,
numerically controlled, new
Manufacturing 8460210080 Grinding
machines except flat surface, metal removing, accuracy at least 0.01 mm,
numerically controlled, new
Manufacturing 8461405020 Gear
grinding or finishing machines, metal removing, used or rebuilt
Manufacturing 8479 Machines
etc having individual functions, parts
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer CNC surface
grinders
Manufacturer Surface grinding
machines
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.22 |
|
UK Pound |
1 |
Rs.75.03 |
|
Euro |
1 |
Rs.63.14 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)