MIRA
INFORM REPORT
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Report Date : |
19.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
HWA CHIN MACHINERY FACTORY CO LTD |
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Registered Office : |
238 Chung Cheng South Rd Yungkang City Tainan Hsien 710 |
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Country : |
Taiwan |
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Date of Incorporation : |
23.02.1979 |
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Com. Reg. No.: |
73642585 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Research and Development of Injection Molding Machines |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address of the company
HWA
CHIN MACHINERY FACTORY CO LTD
238 CHUNG CHENG SOUTH RD
YUNGKANG CITY TAINAN HSIEN 710, TAIWAN
TEL: 886-6-2533636 FAX: 886- 6-2534755
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 23, 1979
REGISTRATION NO. :
73642585
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. JUI-HSIANG WANG (CHAIRMAN)
STAFF STRENGTH :
112
CAPITAL :
US$ 2,293,301
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 400,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 31.72500 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
WD –Taiwan New Dollars
*Company History*
===============
1970 - Established in Tainan City,
specializes in hydraulic machinery and injection molding machines.
1982 - Moved to the existing
factory and concentrated in manufacturing reliable and precise plastic
injection molding machines.
1989 - Expanded the
factory area to 10,000 sqm and improved the automation of the factory.
- Set up an
independent production line for plastic injection molding machines to increase
productivity to meet market demands.
1993 - Set up another factory
in the Ho Shun Industrial Park, called TSONG CHERNG MACHINERY CO LTD and
purchased a number of high precision processing machines to produce parts for
high efficiency and high accuracy plastics injection molding machines.
1994 - Purchased a large size
Japanese CNC horizontal boring/milling machine, CNC machining center, CNC lathe
and other equipment to further upgrade productivity and processing quality.
Completely developed the whole series of hydraulic piston-type plastic
injection molding machine.
1995 - Developed the two
mold platen clamping mechanism to reduce the size of the machine and simplify
the lubricating system.
- Developed
the bi-metal barrel to increase resistance against wear and corrosion.
- Developed
the high temperature (above 450'C) and high pressure (above 3,000kg/cm2)
injection system.
- Developed
super large plastic injection molding machine (clamping force over 4,000 tons)
in Taiwan.
1997 -
Awarded the "Symbol of Excellence in Taiwan" prize.
-
Manufactured high speed, close loop plastic injection molding machine for
producing high precision, high quality products.
2000 - Purchased Japanese
made extra heavy duty machining center and German-made large 3-dimensional
coordinate measuring machine to upgrade quality of plastic injection molding
machines.
- Started
development of fully electric operated machine, a high value-added machine to
create greater profits for our customers.
2001 -
Research and development professional machines for BMC.
*Licenses & Permits*
================
(1)
License number : 9966060900
Date issued : 21 January,
1983
Issuing authority : Industrial
Development Bureau, MOEA
(2)
License number : 9967685300
Date issued : 6 August,
2004
Issuing authority : Industrial
Development Bureau, MOEA
*Office & Facilities*
===============
The office is located at the same premises as the factory.
Other contact details
----------------------------
Tel no : 6-3556355
Fax no : 6-3555420
E-mail : ghwa-chin@umail.hinet.net
*Factories, Size & Locations*
======================
The firm maintains two (2) manufacturing premises as listed below:
(1)
Size : 5,407 square meters (Approx.)
Location : Tainan Hsien
Type of building : Industrial
building
Property status : Rented
Comments : Serves as office and factory
(2)
Size : 3,651 square meters (Approx.)
Location : Tainan City
Type of building : Industrial
building
Property status : Owned by HWA CHIN MACHINERY FACTORY CO LTD
*Corporate & Organization Structure*
============================
A large-sized company operated and managed by an experienced team of
professionals.
*Industry Ranking*
==============
Generally regarded as one of the Top 1000 Companies in manufacturing
industry of Taiwan
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
Web
site: www.hwa-chin.com The design is
professional and the content is well organized. At present it is in both
Chinese and English versions.
E-mail: hwachin@ms7.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: 2
Total number of shares: n/a
Shareholders %
------------------------- ------
Ms. Jui-hsiang Wang 99.00
Undisclosed Shareholders 1.00
Management: Mr. Chin-kun Yang,
Manager
Mr. Chuan-chen Chen, General Manager
Ms. Jui-hsiang Wang, President
Name Nationality
Job Description Dept. / Division
Mr. Chin-kun Yang Taiwanese
Manager Sales
Mr. Chuan-chen Chen Taiwanese General Manager -
Ms. Jui-hsiang Wang Taiwanese President -
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Research and development of injection molding machines.
2. Importing of a wide range of cocks, taps and related raw materials
for in-house use.
3. Manufacturing a wide range of DC-series dual color injection molding
machine, HC-CL pistion clamping and related machines.
4. Selling to both domestic and international markets.
Products also include:
- Microcomputer plastic injection molding machine
- Vertical injection molding machine
Products: Cocks
Horizontal injection
machines
Horizontal
machining centers
Injection blow
molding machine
Injection moulding
machines
*Brand*
=======
HWA CHIN
Payment Terms*
=============
Sales
-------
Local : 30 - 90 days credit
Cash
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)
*Quality Certification*
=================
Obtained the following certifications:
(1)
Type of certification: ISO 9002
Issuing authority : CE
(2)
Type of certification: SGS ISO and TV CE
Year of certification: 1997
*Machinery & Equipment*
====================
Machinery/ Equipment include:
- Auto machining center line from Japan
- Auto machining center from Japan to fabricate parts
- High precision CNC lathes to produce small parts
- Huge size parts made by horizontal boring/milling machine
- Japanese heavy duty machining center
- German large 3-dimensional inspection machine
*Exhibition Participation*
===================
Participated in the following local exhibitions:
(1)
Exhibition Fair : Taipei Int'l
Plastic & Rubber Industry Show
Date Attended : 30
September - 4 October, 1999
Location : Taipei
World Trade Center Exhibition Hall
(2)
Exhibition fair : Taipei
Int'l Plastic & Rubber Industry Show (Taipei Plas 2004)
Dates attended : 18-21 March,
2004
Location : Taipei World
Trade Center - Exhibition Hall
(3)
Exhibition fair : Taipei
International Plastic & Rubber Industry Show
Dates attended : 23-27 March,
2006
Location : Taipei
World Trade Center (TWTC) - Exhibition Hall
*Associations*
============
Member of:
- Taiwan Association of Machinery Industry
*Competitors*
===========
The following locally based companies supply similar range of products :
- E-WHA ENTERPRISE CO LTD
- ASIAN PLASTIC MACHINERY CO LTD
- KOU YI IRON WORKS CO LTD
- SHINN DWO ENTERPRISE CO LTD
- KING AIR AUTOMATION CORP
*Patents*
========
(1)
Patent number :
98587 (Taiwan)
94210763.2 (China)
G9407508.5 (Germany)
3006492 (Japan)
Product
: HYDRAULIC CLAMPING MECHANISM
(2)
Patent number :
56839 (Taiwan)
Product
: LUBRICATION-FREE SLIDEWAY
(3)
Patent number :
61809 (Taiwan)
Product
: MECHANICAL IMPROVEMENT OF DUAL COLOR INJECTION MOLDING MACHINE
(4)
Patent number :
29503276.6 (Germany)
226402 (China)
119803 (Taiwan)
3015629 (Japan)
Product
: INNOVATION OF CONSTRUCTION FOR INJECTION SCREW
(5)
Patent number :
91646 (Taiwan)
171214 (China)
G9310805.2 (Germany)
3005179 (Japan)
5.439.369 (USA)
Product
: HYDRAULIC CLAMPING MECHANISM FOR PLASTIC INJECTION MOLDING MACHINE
(6)
Patent number :
90000 (Taiwan)
Product
: CONSTRUCTION IMPROVEMENT OF VIBRATION ABSORBING BASE
(7)
Patent number :
106801 (Taiwan)
3023886 (Japan)
238340 (China)
29513866.1 (Germany)
5,639,491 (USA)
Product : IMPROVEMENT OF
INJECTION CYLINDER
(8)
Patent number :
332021 (China)
Product
: ARM STRUCTURE FOR INJECTION MOLDING MACHINE
(9)
Patent number :
88221926 (Taiwan)
3072741
(Japan)
419745 (China)
2008134.9 (Germany)
6.345.975 (USA)
Product : SEMICIRCLE STRUCTURE OF TOGGLE
(10)
Patent number :
527438 (China)
203011899 (Germany)
Product
: STRUCTURE OF MOLD FIXING
(11)
Patent number : 91206571
(Taiwan)
Product
: BUILT-IN LUBRICATION APERTURES
(12)
Patent number :
51220 (Taiwan)
G8913113.4 (Germany)
47533 (China)
2238010 (Great Britain)
68174 (South Korea)
2053595 (Japan)
Product
: FOUR INJECTION CYLINDER MECHANISM
*Local Distribution Network*
=======================
Approximately 60% of the annual turnover is attributed to local
sales.
*International Trade Activity*
=======================
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.
*Export Markets*
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Approximately 40% of the annual turnover is attributed to export.
*International Exhibition Participation*
============================
Exhibition Fair : Manufacturing Technology Philippines 2000
Date attended : 21-24 September, 2000
Location : World Trade
Center Metro Manila, Philippines
*LOCAL BRANCHES & MANAGEMENT*
=================================
Branch :
HWA CHIN MACHINERY FACTORY CO LTD - WUJIH HSIANG
Branch Address : 335-13
Hsin Hsing Wujih Hsiang, Taichung Hsien 414
Branch Tel :
[+886] 4-23365271
Branch Employees : 5
Branch :
HWA CHIN MACHINERY FACTORY CO LTD - HSINCHU CITY
Branch Address : 134
Chu Kuang Rd Hsinchu City, 300
Branch Tel :
[+886] 3-5438378
Branch Employees : 6
Branch :
HWA CHIN MACHINERY FACTORY CO LTD - SANCHUNG CITY
Branch Address : 1Fl,
665 Chung Hsin Rd Section 5 Sanchung City, Taipei Hsien 241
Branch Tel :
[+886] 2-29955339
Branch Employees : 5
Branch :
HWA CHIN MACHINERY FACTORY CO LTD - JENWU HSIANG
Branch Address : 1-15
Fung Jeng Rd Jenwu Hsiang, Kaohsiung Hsien 814
Branch Tel : [+886]
7-7323927
Branch Employees : 6
Branch :
HWA CHIN MACHINERY FACTORY CO LTD - CHANGHWA CITY
Branch Address : 71
Chuang Tsao Rd Changhwa City, Changhwa Hsien 500
Branch Tel :
[+886] 4-7617506
Branch Employees : 7
*OVERSEAS AGENTS AND DISTRIBUTORS*
====================================
Agent :
AD TRADE
Country of Origin :
Italy
Agent :
AMBER DO BRASIL INDUSTRIA (AMB LTDA)
Country of Origin :
Brazil
Agent :
ARTILUX SWISS SAFETY AG
Country of Origin :
Switzerland
Agent : ATEC ENGINEERING SIA
Country of Origin :
Latvia
Agent :
ATEC JASZTAL
Country of Origin :
Poland
Agent :
ATEC PLASTSERVICE LLC
Country of Origin :
Russia
Agent :
FEKA OTOMOTIV MAMULLERI SAN VE TIC AS
Country of Origin :
Turkey
Agent :
FU HSIN MACHINERY CO LTD
Country of Origin :
China
Agent :
INTER BUANA MACHINARY
Country of Origin :
Indonesia
Agent :
PLASMAC TRADING CO LTD
Country of Origin :
Thailand
Agent :
RADIANT TECHNOLOGIES
Country of Origin :
India
PAYMENT RATING : 3 OBTAINED SCORES :
70
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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 with a paid-up capital of less than USD 6
million, there is no legal requirement according to Taiwan corporate law for
public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*Bank Details*
===========
Bank Name : FIRST
COMMERCIAL BANK CO LTD
Branch :
Chungcheng Dist,Taipei City
Branch Address : 10Fl,
30 Chungking South Rd Section 1 Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code :
FCBKTWTP
Bank Name : MEGA
INT'L COMMERCIAL BANK CO LTD
Branch :
Chungcheng Dist,Taipei City
Branch Address : 123
Jhongsiao E Rd Section 2 Chungcheng Dist Taipei City 100 (Head Office)
SWIFT Code :
ICBCTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2006 $36,577,992.74 $1,701,934.70 $3,174,123.34
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2004 $446,726.98 $18,360,791.01 $18,807,517.99
2005 $1,428,446.00 $14,246,192.99 $15,674,638.99
2006 $1,558,394.98 $20,776,986.97 $22,335,381.95
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 400,000
appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3500 Industrial
Machinery & Equipment
Exporting 3569 General
industrial machinery and equipment, and parts,
Importing 3491 Industrial
Valves
Manufacturing 3500 Industrial
Machinery & Equipment
Manufacturing 3569 General
industrial machinery and equipment, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8418690015 Icemaking machines
Exporting 8477 Machinery
for working rubber & plastic etc nesoi, parts
Exporting 8477106010 Injection-molding machines of a type used for processing rubber
or other thermosetting materials
Exporting 8477908010 Other parts of injection-molding machines
Exporting 8479500000 Industrial robots
Exporting 8481200000 Valves for oleohydraulic or pneumatic transmissions
Exporting 8537100030 Numerical controls for controlling machine tools
Importing 8481809050 Other taps, cocks, valves, etc.
Manufacturing 8477 Machinery
for working rubber & plastic etc, parts
Manufacturing 8477106010 Injection-molding
machines of a type used for processing rubber or other thermosetting materials
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Injection blow
molding machine
Manufacturer Horizontal
machining centers
Manufacturer Horizontal
injection machines
Manufacturer Plastic injection
machines
Manufacturer Plastic injection
molding m/c
Manufacturer Plastic
machines
Manufacturer Rubber
machines
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Brazil
Exporting to China
Exporting to Europe
Exporting to Finland
Exporting to Hong Kong
Exporting to India
Exporting to Indonesia
Exporting to Iran
Exporting to Latvia
Exporting to Malaysia
Exporting to Middle East
Exporting to North America
Exporting to Panama
Exporting to Poland
Exporting to South America
Exporting to Switzerland
Exporting to Thailand
Exporting to Turkey
Exporting to Vietnam
Importing from Asia
Importing from Australia
Importing from China
Importing from Europe
Importing from Germany
Importing from Japan
Importing from Oceania
Importing from Swaziland
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%)