MIRA
INFORM REPORT
|
Report Date : |
14.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FORTUNE ELECTRIC CO LTD |
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Registered Office : |
Chung Li Industrial Park, 10 Chi Lin Rd, Chungli City, Taoyuan 320 |
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Country : |
Taiwan |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
26.08.1969 |
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Com. Reg. No.: |
33284077 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Importing of bushings, capacitors and related electronic components.
Manufacturing of various types of transformers, switchboards, switchgears,
bushing and related products. Selling to both domestic and international
markets. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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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Maximum Credit Limit : |
USD 500,000 |
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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name and
Address
FORTUNE ELECTRIC CO
LTD
CHUNG-LI INDUSTRIAL
PARK 10 CHI LIN RD
CHUNGLI CITY TAOYUAN
HSIEN 320, TAIWAN
TEL:
886-3-4526111 FAX: 886-3-4512833
EXECUTIVE SUMMARY
INCORPORATION DATE : AUGUST 26, 1969
REGISTRATION NO. : 33284077
LEGAL FORM : PUBLIC
LISTED COMPANY
CHIEF EXECUTIVE : MR. RITMON
CHUNG-MING HSU (CHAIRMAN)
STAFF STRENGTH : 549
CAPITAL :
US$ 82,981,291
BUSINESS LINE :
MANUFACTURER
TURNOVER : NTD
3,845,927,000 (JAN. 1 TO SEP. 30, 2007)
EQUITIES :
NTD 2,713,615,000 (AS OF SEP. 30, 2007)
PAYMENT : ABOVE
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 4,000,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : TWD 31.66168 =
US$1
*Company History*
===============
1969 - Founded in Tu
Cheng, Taiwan, manufacturing distribution transformers.
1973 - Qualified as a
Class A manufacturer of distribution transformers by IDB.
1980 - Completed the
construction of the Chung Li Plant (Phase I & II)
- Started
manufacturing various types of transformers and electrical panels.
- Licensed with MCGRAW-EDISON CO
to produce power transformers up to 230 kV, 120 MVA.
- Qualified as a Class A
manufacturer of 69 kV power transformers, 24 kV and 15 kV distribution
transformers and switchgears by IDB.
1981
- Rated as an
"Excellent Quality Control Manufacturer" of transformers and
switchgears by the Bureau of Commodity Inspection and Quarantine in Taiwan.
1982 - Became the 1st manufacturer of
pad-mount transformers, arresters and fuse cutouts in Taiwan.
1983 - Implemented Company-wide Quality
Control (CWQC) and factory-wide automation and rationalization.
1986 - Successfully lead the development of
Metal Oxide Arresters in Taiwan's transmission and distribution market.
- Licensed
with MEIDENSHA CORP to produce MCSG.
1987 - Licensed with TAKAOKA ELECTRIC MFG LTD
for the production of 69 KV and 161 KV ABS
1988 - Licensed with TOGAMI
ELECTRIC MFG CO LTD of Japan for the production of SF6 Gas sealed Load Break
Switches.
1990 - Licensed with HITACHI of Japan for the
production of power transformers up to 345 kV.
1991 - Acquired office
building in Taipei and employee dormitories in Ta Yuan.
- Licensed with ENCO, Austria for
the production of Cast Resin Transformers.
1992 - Licensed with G&W ELECTRIC CO of
USA to supply SF6 Switches to Taiwan's market.
- Started
the construction of Kuan Yin Plant
1993 - Became the 1st manufacturer in Taiwan
heavy electrical industry certified for ISO 9001.
- Mr. Pedro Hsu was honored with
the Excellent Business Executive Award and summoned by ex-president of ROC, Mr.
Den Huai Lee.
1994 - Construction of Guan Yin Plant II
completed, launching the manufacture of up to 500 MVA 345 kV power
transformers.
1995 - Licensed with ALLIEDSIGNAL INC, USA, to
produce Amorphous Metal Core Transformers.
1996 - Successfully
developed the Gas Insulated Switch.
- Approved
public stock offering by the Security Exchange Committee.
29 July, 1997 - Ex-President Den Huai Lee
visited Chung Li Plant.
1998 - Licensed with ABB,
Germany, to manufacture MV GIS.
1999 - Licensed by
ALSTOM, Switzerland, to manufacture High Voltage GIS.
- Expanded Guan Yin Plant II, and
completed the construction of Guan Yin Plant III for Switchgear production.
2000 - Licensed with HONEYWELL TECHNOLOGIES
INC for production and promotion of Amorphous Metal Core Transformers developed
by GE for both Taiwan and Overseas Markets.
2002 - Successfully developed the 1st 161kV,
SF6 Gas Insulated Transformer in Taiwan.
2003 - Successfully
developed the 1st 161kV Series Reactor in Taiwan.
- Started
the production at the FE Distribution Transformer Plant in Wuhan
2004 - One unit of substation type oil fill
transformer, 67 kV 33.6 MVA with on load tap changer, manufactured in FE Power
Transformer
- Plant in
Guan Yin passed Short Circuit Test at KEMA.
- Fortune
Distribution Transformer Plant in Chung Li Successfully developed NEMR 3R
enclosure for 8750kVA Cast Resin Transformer.
- One unit of 1500 kVA oil fill
transformer manufactured in FE Distribution Transformer Plant in Wuhan passed
Short Circuit Test.
- One unit of 8750 kVA oil filled
transformer manufactured in FE Distribution Transformer Plant in Wuhan passed
Short Circuit Test.
- One unit of 3600 kVA Cast Resin Transformer
manufactured in Distribution Transformer Plant in Chung Li passed Short Circuit
Test.
- One unit of 10kV class oil
filled transformer manufactured in FE Distribution Transformer Plant in Wuhan
successfully passed short circuit test.
- Bureau for its three plants in
Chung Li, the distribution transformer plant, Guan Yin II, the power
transformer plant, and Guan Yin III, the switchgear plant.
2005 - Wuhan FE distribution transformer plant
completed the development and type test for 110kV class oil filled transformer.
- Successfully completed the
contractual and commissioning work of 6th Power Transmission Engineering at Chu
Lin and Liu chung Substation of TAIWAN POWER CO.
2006 - Start up "Engineering &
Construction Division " to handle substation, power plant engineering and
construction.
- Developed 161 kV 80MVAR Shunt Reactor.
-
Manufactured 1st 345kV 638.5 MVA Generator Transformer.
Capital Details
=============
Initial paid-up
capital : NTD 2,059,024,340.00
Paid up capital
increase: NTD 2,750,000,000.00
Licenses &
Permits
================
(1)
License number : 9962394000
Date issued : 25 October, 1990
Issuing
authority : Industrial Development
Bureau, MOEA
(2)
License number : 9962203000
Date issued : 29 April, 1994
Issuing
authority : Industrial Development
Bureau, MOEA
(3)
License number : 9962417000
Date issued : 4 July, 1980
Issuing
authority : Industrial Development
Bureau, MOEA
Office & Facilities
================
Comments :
Serves as office and factory 1.
Factories, Sizes
& Locations
======================
The firm maintains 3
manufacturing premises as listed below :
(1)
Size : 14,984 sq. meters (Approx.)
Location : Taoyuan Hsien
Type of
building : Industrial building
Property status :
Owned by FORTUNE ELECTRIC CO LTD
(2)
Size : 9,940 sq. meters (Approx.)
Location : Taoyuan Hsien
Type of
building : Industrial building
Property status :
Owned by FORTUNE ELECTRIC CO LTD
(3)
Size : 14,984 sq. meters (Approx.)
Location : Taoyuan Hsien
Type of
building : Industrial building
Property status :
Owned by FORTUNE ELECTRIC CO LTD
Other Contact
Details
-----------------------------
Second Plant
Tel. no. : 3-4836155
Fax no. : 3-4836151
Corporate &
Organization Structure
============================
A large sized
company 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.
Auditors
=========
DELOITTE & TOUCHE
Registrars
==========
TAIWAN INT'L
SECURITIES CORP
Awards
========
Received the
following awards :
Award :
Trade Technology Development Award.
Year : 1997
(2)
Award :
Quality Team Award
Awarded by : Quality Assurance Committee of the
Representative of China
Year : 1998
(3)
Award :
OHSAS18001 Award
Awarded by :
Taiwan National Standard
Year : 2004
Web site: www.fortune.com.tw the design is professional and the content
is well organized. At present it is in Chinese, Japanese and English
versions.
E-mail: fe@fortune.com.tw
For the past two
years there is no record of litigation.
SC’s ownership
details are not available at present.
Management: Ms. Hsu-lan Chiu, Manager
Ms.
An-chi Kuo, Manager
Mr.
Yi-teh Hsu, Manager
Name Nationality
Job Description Dept. / Division
Ms. Hsu-lan Chiu Taiwanese Manager Finance
Ms. An-chi Kuo Taiwanese Manager Human
Resources
Mr. Yi-teh Hsu Taiwanese Manager Sales
Mr. Jun-pei Weng Taiwanese Supervisor Sales
Mr. Pang-fu Hsu Taiwanese General Manager -
Mr. Pedro B. F. Hsu Taiwanese General Manager -
Mr. Ritmon
Chung-ming Hsu Taiwanese President -
Mr. Shou-hsiung Hsu Taiwanese Vice General Manager -
*Main Products &
Services*
======================
Specializes in the
following areas of work:
1. Importing of
bushings, capacitors and related electronic components.
2. Manufacturing of various
types of transformers, switchboards, switchgears, bushing and related products.
3. Selling to both
domestic and international markets.
Products: Air motor
vacuum pumps
Amorphous core transformers
Arrester, lightings
Bushing
Capacitors
Brand
======
Fortune
Payment Terms
==============
Sales
-------
Local :
Cash
30-90 days credit
Export :
Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
-------------
Local :
30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Associations
============
Member of :
- Taiwan Electrical
& Electronic Manufacturers' Association (TEEMA)
Competitors
===========
The following .locally based companies supply similar
range of products :
- AMAZING ENERGY
INDUSTRIAL CO LTD
- CHAO CHUAN METAL
INDUSTRIAL CO LTD
- CHIN AN CHUAN
ENTERPRISE CO LTD
- FAVORTRON CO LTD
- GHON ZU INDUSTRIAL
CORP
Quality Certification
===================
Type of
certification : ISO9001
Year of
certification : 1994
Details : Certification for
Plant I and II
Machinery &
Equipment
=====================
Machinery/ Equipment
include:
- Vapor Phase Drying
Oven
- Low Humidity Room
- Vertical Winding
Machine
- 2000kV Impulse
Voltage Generator
- Automated Sheet
Punch Machine
- Automated Power
Coated Line
Local Distribution
Network
=======================
Approximately 60%
annual turnover is attributed to local sales.
International Trade
Activity
=======================
2001 - Exported to USA 3
sets of 345kV, 225MVA Generator Step Up transformers.
Export Markets
=============
Approximately 40%
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.
International Trade
Ranking
========================
The firm has been
ranked among Taiwan's Top Importers/Exporters based on
the standard
measured by the Board of Foreign Trade (BOFT)
Details of rank are
as follows :
Year Rank
------ -------
1997 1388
2001 735
2002 656
2003 987
2004 1382
2005 881
2006 827
*LOCAL BRANCHES
& MANAGEMENT*
=================================
Branch : FORTUNE ELECTRIC CO
LTD - KAOHSIUNG CITY
Branch Address : 8 Chiao Jun Rd Sanming Dist, Kaohsiung
City, 807
Branch Tel : [+886] 7-3847001
Branch Employees : 5
Branch : FORTUNE ELECTRIC CO
LTD - TAIPEI CITY
Branch Address : 10Fl, 370 Fu Hsing South Rd
Section 1 Ta-an Dist, Taipei City, 106
Branch Tel : [+886] 2-27040001
Branch Fax : [+886] 2-27047005
Branch Employees : 9
Branch : FORTUNE ELECTRIC CO
LTD (POWER DIVISION) - TAOYUAN HSIEN
Branch Address : Kuanyin Industrial Park 33 Chin Chian Rd Section 2
Kuanyin Hsiang, Taoyuan Hsien 328
Branch Tel : [+886] 7-3847001
Branch Fax : [+886] 3-4836151
Branch Employees : 241
Branch : FORTUNE ELECTRIC CO
LTD (SWITCHGEAR DIVISION) - TAOYUAN HSIEN
Branch Address : 55 Chung Cheng Rd Kuanyin Hsiang,
Taoyuan Hsien 328
Branch Tel : [+886] 3-4736957
Branch Fax : [+886] 3-4736975
Branch Employees : 167
(Subsidiaries,
Joint-ventures & Affiliates)
===============================
Company Name : COMBAT INT'L CO LTD
Address : Level 12 Lotemay Centre
Vaea Strcet Apia Samoa
Country : Samoa
Relationship : Affiliate
Legal Form : Private company with
limited liability
Company Type : Trader
Industry : Electrical Equipment
& Appliances
Company Name : FORTUNE ELECTRIC CO LTD
Address :
1965 Shenango Valley Hermitage 16148 Pennsylvania USA
Country : USA
Relationship : Affiliate
Legal Form : Private company with
limited liability
Company Type : Trader
Industry : Electronic Products
& Components
Company Name : LANDIS & GYR FORTUNE CO LTD
Address :
Chung-Li Industrial Park 10 Chi Lin Rd, Chungli,Taoyuan Chungli City 320
Taoyuan
Hsien Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with
limited liability
Company Type : Trader
Industry : Electrical Equipment
& Appliances
Company Name : POWER EPC CO LTD
Country : Taiwan
Relationship : Joint-Venture
Legal Form : Private company with
limited liability
Company Type : Service
Industry :
Energy, Power & Utilities
Company Name : WUHAN FORTUNE ELECTRIC CO LTD
Country : China
Relationship : Affiliate
Legal Form : Private company with
limited liability
Company Type : Trader
Industry : Electrical Equipment
& Appliances
Subsidiaries,
Joint-ventures & Affiliates
=================================
Joint Venture
------------------
POWER EPC CO LTD
This is a
joint-venture between the following parties:
- HITACHI LTD
(Japan)
- CHUNG HSIN
ELECTRIC & MACHINERY MFG CORP
- FORTUNE ELECTRIC
CO LTD
- NISSEI SANYO CO
Branches
=========
Location
Other Tel. No. Other Fax No.
------------
-------------------
------------------
Kuanyin Industrial
Park 33 Chin
Chian Rd Section 2 - Taoyuan Hsien 3-4836155 3-4836151
Taipei City
2-27047001 --
PAYMENT RATING : 2 OBTAINED SCORES :
76
|
Rating Key |
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 FAIRLY
LARGE amounts depending on individual judgement experience.
Bank Details
===========
Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Taipei City
Branch Address : 38 Chung King South Rd Section
1
SWIFT Code : HNBKTWTP
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 BUSINESS BANK
Branch : Tatung Dist, Taipei
City
Branch Address : 30 Ta Cheng St
SWIFT Code : MBBTTWTP
Balance Sheet
Currency : NTD
Denomination : In
Thousands
30 September, 2007 30 September, 2006
(Nine Months) (Nine Months)
------------------------- --------------------------
CURRENT ASSETS
Cash 22,422 26,683
Financial assets at
fair value
through profit or loss - current
3,894 --
Hedge derivative
financial assets - current 5,992 21,969
Notes
receivable
28,102 23,780
Accounts receivable,
net of allowance
of NTD 66,481 in 2007 and
NTD 88,998 in 2006
1,690,000
1,103,361
Receivable from
related parties 10,867 10,768
Other receivable
from related parties 402 34,399
Other financial
assets - current 46,084 15,616
Inventories,
net
2,394,901
1,983,944
Construction in
process - net of advances 641,637 790,434
Prepayments
343,893
54,806
Deferred income tax
assets - current 23,122 28,892
Other
44,023
32,845
Total current
assets 5,255,339 4,127,497
LONG-TERM
INVESTMENTS
Investment accounted
for using equity method 179,297 172,761
Hedge derivative
financial assets - noncurrent 1,369 46
Financial assets
carried at cost - noncurrent 70,800 113,600
Total long-term
investment 251,466 286,407
PROPERTIES
Land 573,113 573,113
Buildings and
equipment
600,267
600,267
Machinery and
equipment
861,706
824,754
Other equipment
75,152
76,231
Total cost
2,110,238
2,074,365
Appreciation
130,748 130,748
Total cost and
appreciation
2,240,986
2,205,113
Accumulated
depreciation
778,887 721,098
1,462,099
1,484,015
Prepayment for
equipment
522 748
Net properties
1,462,621
1,484,763
DEFERRED PENSION
COST 8,320 10,378
OTHER ASSETS
Deferred income tax
assets - noncurrent 40,148 33,267
Other
33,045 49,183
Total other
assets
73,193
82,450
TOTAL
7,050,939 5,991,495
LIABILITIES AND
STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Short-term
debts
532,513
326,968
Short-term
negotiable instruments payable 709,414 438,706
Financial
liabilities at fair value through
profit or loss - current
-- 3,388
Notes payable
--
1,039
Accounts
payable
769,287 693,142
Income tax
payable
142,174
56,748
Accrued
expenses
176,024 98,339
Construction
payable
665,080
644,479
Customers'
advances
716,569
474,415
Construction
advances, net of construction
in progress
95,385
334,666
Current portion of
long-term debts 130,000 170,000
Other
27,199
13,019
Total current
liabilities 3,963,645 3,254,909
LONG-TERM DEBTS
229,167
189,167
RESERVE FOR LAND
VALUE INCREMENT TAX
34,528
34,528
OTHER LIABILITIES
Accrued pension
liability
108,724
104,026
Other 1,260 10
Total other
liabilities
109,984
104,036
Total liabilities
4,337,324
3,582,640
STOCKHOLDERS' EQUITY
Capital stock - NTD
10 par value
Issued - 205,902
thousand shares in
2007 and 2006 2,059,024 2,059,024
Paid-in capital in
excess of par value 3,525 3,525
Treasury stock
transactions 23,613 --
27,138
3,525
Retained earnings
Legal reserve
35,788
13,668
Special reserve
-- 93,696
Unappropriated
earnings
580,697
264,887
Total retained
earnings
616,485
372,251
Others
Cumulative
transaction adjustments (2,952) (3,050)
Net loss not
recognized as pension cost (58,659) (63,640)
Unrealized losses on
financial instruments 6,553 14,244
Unrealized land
value increment 66,026 66,026
Treasury stock -
2,846 thousand shares in 2006 -- (39,525)
Total others
10,968
(25,945)
Total stockholders'
equity
2,713,615
2,408,855
TOTAL
7,050,939 5,991,495
Income Statement
Currency : NTD
Denomination : In
Thousands
30 September, 2007 30 September,
2006
(Nine Months) (Nine
Months)
------------------------- --------------------------
OPERATING REVENUE
Sales
3,845,927
2,817,510
Sales returns and
allowances 4,645 1,048
Net sales
3,841,282
2,816,462
Construction
revenues 734,886 1,026,861
Net operating
revenues
4,576,168
3,843,323
OPERATING COST
Cost of sales 2,786,713 2,185,161
Cost of
construction
733,210
997,370
Total operating
costs 3,519,923 3,182,531
REALIZED LOSSES ON
INTERCOMPANY SALES
--
(9,687)
GROSS PROFIT 1,056,245 651,105
OPERATING EXPENSES
Selling
223,587 209,732
General and
administrative
57,326
55,659
Research and
development
47,117
47,760
Total operating
expenses
328,030
313,151
OPERATING
INCOME
728,215
337,954
NON-OPERATING INCOME
AND GAINS
Scrap revenue
13,962
7,684
Income form
counter-party default 11,889 5,146
Investment gain
recognized under the
equity method
10,266
--
Reversal of
provision for inventory
valuation 3,670 26,945
Valuation gain on
financial assets 3,212 --
Rent income 1,473 1,356
Service revenue
1,278
5,196
Foreign-currency
exchange gain, net 1,110 19,550
Gain on disposal of
fixed assets 363 102
Other 20,680 21,900
Total non-operating
income and gains 67,903 87,879
NON-OPERATING
EXPENSES AND LOSSES
Interest
37,890
21,389
Loss on inventory
obsolescence 23,963 28,567
Loss on disposal of
properties 1,015 17,410
Investment loss
recognized under the
equity method -- 8,132
Valuation loss on
financial liabilities -- 3,388
Other 3,231 3,110
Total non-operating
expenses and losses 66,099 89,196
INCOME BEFORE INCOME
TAX 730,019 336,637
INCOME TAX
EXPENSE
149,933
72,868
580,086 263,769
Cumulative effect of
changes in account
principle, net of tax expense of NTD 70 thousand -- (212)
NET INCOME
580,086
263,557
BASIC EARNINGS PER
SHARE
Income before income
tax
before income tax 3.55 1.66
After income tax
2.82
1.30
Note : The above
financial statements are not audited.
Financial Summary
(Currency: U.S. $'s)
=============================
Year Sales Assets
Net Income
1992 $35,037,037.04 $38,555,555.56 $5,093,703.70
1998 $83,350,733.33 $117,072,300.00 $7,133,266.67
1999 $93,972,125.00 $129,428,937.50 $7,911,968.75
2000 $95,732,192.85 $132,300,155.52 $6,834,059.10
2001 $74,114,915.84 $128,003,482.30 $5,455,600.70
2002 $83,299,798.79 $127,076,746.19 $2,701,925.84
2004 $64,360,902.26 $128,541,353.38 -$4,449,624.06
2005 $132,460,663.51 $159,660,853.08 $4,318,420.22
2006 $153,960,096.74 $189,570,737.61 $6,686,819.83
Int´l Trade Activity
(Currency: U.S. $'s)
==============================
Year Imports Exports
Total
1992 $6,100,000.00 $3,300,000.00 $9,400,000.00
1996 $11,100,000.00 $2,300,000.00 $13,400,000.00
1997 $11,000,000.00 $1,700,000.00 $12,700,000.00
1998 $11,400,000.00 $5,200,000.00 $16,600,000.00
1999 $16,100,000.00 $6,900,000.00 $23,000,000.00
2004 $13,139,000.00 $11,915,280.00 $25,054,280.00
2005 $23,724,277.00 $19,393,868.97 $43,118,145.97
2006 $28,005,847.97 $22,308,502.99 $50,314,350.96
Credit amount: USD
500,000
Over the past 39
years, SC has made a stable growth with satisfactory profit. The given credit
line appears to be within SC’s capacities.
Attached: trade
references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2600
Paper and allied Products
Importing 3496
Fabricated wire products,
Importing 3594
Fluid power pumps and motors, and
parts,
Importing 3613
Switchgear and switchboard apparatus,
and parts,
Importing 3829
Measuring and controlling devices, and
parts,
Manufacturing 3612 Transformers, and parts,
Manufacturing 3613 Switchgear and switchboard apparatus, and
parts,
Manufacturing 3648 Lighting equipment, (including commercial)
Manufacturing 3675 Electronic capacitors
Trading 3612
Transformers, and parts,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8504340000
Transformers, having a power
handling capacity exceeding 500 kva
Importing 2710
Oil (not crude) from petrol
& bitum mineral etc,
Importing 4016
Articles of unharded
vulcanized rubber
Importing 4413000000
Densified wood, in blocks, plates,
strips or profile shapes
Importing 4805
Paper & paperboard,
uncoat, rolls or sheets
Importing 4807
Composite paper &
paperboard, no surf coat, roll etc
Importing 4823900000
Articles of paper pulp, paper,
paperboard, cellulose wadding or webs of cellulose fibers
Importing 7226190000
Flat-rolled silicon electrical steel
under 600mm wide, not grain-oriented
Importing 8413
Pumps for liquids; liquid
elevators; parts thereof
Importing 8414
Air or vacuum pumps, compr
& fans; hoods & fans; parts
DETAILED PRODUCT CLASSIFICATION &
ACTIVITY
Activity Product/Service
Description
Importer Control instruments
Importer Hydrometers
Importer Switches
Importer Filters
Importer Air motor vacuum pumps
Manufacturer Transformer induction coils
Manufacturer Industrial switchgears
Manufacturer Switchboards
Manufacturer Arrester, lightings
Manufacturer Insulator components
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to Africa
Exporting to Asia
Exporting to
Australia
Exporting to Canada
Exporting to China
Exporting to Europe
Exporting to Japan
Exporting to Middle
East
Exporting to North
America
Exporting to Oceania
Exporting to Peru
Exporting to
Philippines
Exporting to South
Africa
Exporting to South
Korea
Exporting to UAE
Exporting to USA
Importing from Asia
Importing from
Australia
Importing from
Canada
Importing from China
Importing from Egypt
Importing from
Europe
Importing from
France
Importing from India
Importing from Italy
Importing from Japan
Importing from
Mexico
Importing from
Middle East
Importing from North
America
Importing from
Oceania
Importing from South
Korea
Importing from
Sweden
Importing from UAE
Importing from USA
Importing from
United Kingdom
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%)