MIRA
INFORM REPORT
|
Report Date : |
14.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SMART MACHINERY CO. LTD |
|
|
|
|
Registered Office : |
3Fl, 166 Ta Hsing West Rd Section 1
Taoyuan City Taoyuan Hsien 330 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
14.05.1997 |
|
|
|
|
Com. Reg. No.: |
97455929 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Research and development of circular knitting machine and other
related machines |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name and address of the company
SMART
MACHINERY CO LTD
3FL, 166 TA HSING WEST RD SECTION 1
TAOYUAN CITY TAOYUAN HSIEN 330, TAIWAN
TEL: 886-3-3160869 FAX: 886-3-3160870
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
14, 1997
REGISTRATION NO. :
97455929
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. SHELDON HSI-TING LAI (CHAIRMAN)
STAFF STRENGTH :
25
CAPITAL :
US$ 150,875
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.47791 = 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 : 243 sq. meters
Location : Taoyuan City
Type of Building :
Commercial
Property status : Rented
Other contact details
----------------------------
E-mail : smartmc@mail.ttn.com
Previous Contact Details
---------------------------------
Address : 11Fl-1, 51
Cheng Teh Rd Section 1 Tatung Dist Taipei City 103
Tel : 2-25528020
Fax :
2-25561084
*Factories, Size & Locations*
======================
Building size : 250 sq ft
(Approx)
Location : Taoyuan Hsien
Property status : Rented
Facilities : Modern
Type of building : Industrial
building
*Corporate & Organization Structure*
============================
A medium-sized company operated and managed by the owner and 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.
Web
site: www.smartmc.com.tw
the design is professional and the content is well organized. At present it is
in English version.
E-mail: smartmc@seed.net.tw
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders : 4
Total number of shares
: 375,000
Shareholders' Name No. of Shares
--------------------------
------------------
Mr. Sheldon Hsi-ting Lai 175,000
Ms. Hsiu-ting Juan 100,000
Mr. Feng-tsun Tseng 75,000
Mr. Yu-sheng Juan
25,000
Management: Mr. Lin-cheng
Chiang, Manager
Mr. Sheldon Hsi-ting Lai, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Lin-cheng Chiang Taiwanese
Manager Sales
Mr. Sheldon Hsi-ting Lai Taiwanese
General Manager -
*Key Personnel*
============
Mr. Sheldon Hsi-ting Lai
Resident status : Taiwan
Founder :
Co-founder
Work experience : More than 10
years
Responsibilities : Handles
the daily operation of the firm including all financials, sales and legal
matters.
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Research and development of circular knitting machine and other
related machines.
2. Importing of raw materials / components for in-house OEM production
3. Manufacturing a range of circular knitting machine.
4. Sales and distribution of products to local and international
markets.
Products also include:
- High speed double circular knitting machine
- High speed rib circular knitting machine
- Pattern wheel rib mesh jacquard circular knitting machine
- High speed single jersey circular knitting machine
- High speed single terry circular knitting machine
- High speed single fleece circular knitting machine
- Pattern wheel terry jacquard circular knitting machine
- Single mini jacquard circular knitting machine
- Double mini jacquard circular knitting machine
- Super fine gauge circular knitting machine (up to 42 gauges)
Products: Circular knitting machines
Knitting machine
parts
Knitting
machinery
Needle
Sewing
machines
*Brand*
======
SMART
*Payment Terms*
=============
Sales
-------
Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Document against Acceptance (D/A)
Purchases
--------------
Local : 30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Document against
Acceptance (D/A)
*Competitors*
===========
The following locally based companies supply identical range of products
:
- DAY FUH INDUSTRIAL CO LTD
- JEN-HAUR CO LTD
- LIM YING INDUSTRIAL CO LTD
- PAI LUNG MACHINERY MILL CO LTD
- SAN DA MACHINERY CO LTD
*Local Distribution Network*
======================
An estimated 10% of the annual turnover is attributed to local
sales.
*Export Markets*
=============
An estimated 90% 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 :
61
|
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 :
CHINATRUST COMMERCIAL BANK LTD
Branch :
Hsin-i Dist, Taipei City
Branch Address : 14Fl China
Trust Bldg 3 Sung Shou Rd Hsin-i Dist Taipei City 110 (Head Office)
SWIFT Code :
CTCBTWTP
Bank Name : FUBON
COMMERCIAL BANK
Branch :
Ta-an Dist, Taipei City
Branch Address : 2Fl B1 Fubon Banking Center 169
Jen Ai Rd Section 4 Ta-an Dist Taipei City 106 (Head Office)
SWIFT Code : This
bank does not have a SWIFT Code
*Financial Summary (Currency: U.S. $'s)
=============================
Year Sales Assets Net Income
2005 $8,357,661.93 $1,441,500.79 $1,126,129.54
2006 $7,769,044.74 $1,379,186.82 $1,009,975.82
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2002 n/a $1,000,000.00
$1,000,000.00
2003 $50,000.00 $4,000,000.00 $4,050,000.00
2004 $50,000.00 $4,500,000.00 $4,550,000.00
2005 $90,000.00 $6,000,000.00 $6,090,000.00
2006 $180,000.00 $4,000,000.00 $4,180,000.00
SC is considered small-sized in its line with an 11 years history. Credit
up to moderate amount may be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3500 Industrial
Machinery & Equipment
Exporting 5084 Industrial
Machinery/Equip
Manufacturing 3500 Industrial
Machinery & Equipment
Manufacturing 3552 Textile
machines, nspf, and parts and attachments, nspf
Manufacturing 5084 Industrial
Machinery/Equip
Trading 3552 Textile
machines, nspf, and parts and attachments, nspf
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8447 Machines,
knitting, stitch-bond, lace, net etc.
Exporting 8447119090 Circular knitting machines, with cylinder diameter not
exceeding 165 mm
Exporting 8447129090 Circular knitting machines, with a cylinder diameter exceeding
165 mm
Exporting 8448513000 Needles for knitting machines
Exporting 8452219000 Sewing machines, automatic units
Importing 8448395000 Parts of winding or reeling machines
Importing 8448591000 Parts of knitting machines
Manufacturing 8447 Machines,
knitting, stitch-bond, lace, net etc.
Manufacturing 8447119090 Circular
knitting machines, with cylinder diameter not exceeding 165 mm
Manufacturing 8447129090 Circular
knitting machines, with a cylinder diameter exceeding 165 mm
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Circular knitting
machines
Manufacturer Sewing
machines
Manufacturer Neddle
Manufacturer Knitting
machinery
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Argentina
Exporting to Asia
Exporting to Bangladesh
Exporting to China
Exporting to Hong Kong
Exporting to India
Exporting to Indonesia
Exporting to Sri Lanka
Exporting to Turkey
Importing from Asia
Importing from China
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%)