MIRA
INFORM REPORT
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Report Date : |
29.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
POWER BASE WORLDWIDE CORP |
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Registered Office : |
4fl-2, 388 Chang Ping Rd Section 1 Peitun Dist Taichung City 406 |
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Country : |
Taiwan |
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Date of Incorporation : |
2.04.1991 |
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Com. Reg. No.: |
86099380 |
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Legal Form : |
Private |
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Line of Business : |
Domestic purchases of machineries and equipment for wood
working industry |
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 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name and address
FULPOW INDUSTRIAL
CORP
4FL-2, 388 CHANG PING RD SECTION 1
PEITUN DIST TAICHUNG CITY 406, TAIWAN
TEL: 886-4-22439235 FAX: 886-4-22443829
EXECUTIVE SUMMARY
INCORPORATION DATE : APRIL 2, 1991
REGISTRATION NO. : 86099380
LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : MR. SIGGI HSING-CHE LIN (CHAIRMAN)
STAFF STRENGTH : 11
CAPITAL : US$ 150,875
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 20,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : TWD 32.37450 = 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
Note: SC Registered Legal Address is 7Fl-2, 400 Chang Ping Rd Section 1 Peitun Dist Taichung City 406, and its operation address is the state one.
*Trading Name*
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Although the company is legally registered by the name listed above, it is commonly known as POWER BASE WORLDWIDE CORP under which it operates locally.
*Office & Facilities*
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Size : 109 sq meters (Approx)
Location : Taichung City
Property status : Owned by FULPOW INDUSTRIAL CORP
Type of building Commercial building
Other e-mail : fullpower@woodpower.com.tw
*Factories, Size & Locations*
======================
The company is a trading house focused on exports locally made equipment and maintains no manufacturing facilities.
*Corporate & Organization Structure*
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A small-sized company mainly operated and managed by the owner of the firm.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation within the respective industry failed to reveal any negative information.
Web site: www.woodpower.com.tw the design is professional and the content is well organized. At present it is both in Chinese and English versions.
E-mail: fulpow@ms7.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name No. of Shares
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Ms Kathy Shu-li Huang 2,110,500
Mr. Siggi Hsing-che Lin 2,071,500
Mr. Chih-cheng Huang 50,000
Management: Ms Kathy Shu-li Huang, Manager
Mr. Siggi Hsing-che Lin, General Manager
Mr. Chin-shui Lin, President
Name Nationality Job Description Dept. / Division
Ms Kathy Shu-li Huang Taiwanese Manager Sales
Mr. Siggi Hsing-che Lin Taiwanese General Manager -
Mr. Chin-shui Lin Taiwanese President -
*Key Personnel*
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Mr. Siggi Hsing-che Lin
Founder : Co-founder
Work experience : More than 10 years
Responsibilities : Handles the daily operation of the firm including all financial and legal matters.
Resident status : Taiwan
*Main Products & Services*
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Specializes in the following areas of work:
1. Domestic purchases of machineries and equipment for wood working industry.
2. The firm is outsourcing orders for wood working machines to manufacturers in Taiwan.
3. Selling to predominantly international markets.
Product also includes packaging plants for the following:
- Woodenware
- Wooden furniture
- Wooden painting equipment
Products: 2-side planer
Automatic copy shaping machine
Automatic planers
Boring machines
DIY woodworking machineries
*Brand*
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FULPOW
*Payment Terms*
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Sales
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Local : 30-90 days credit
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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Exhibition Fair : Taipei Int'l Woodworking Machinery & Supplies Show
Date Attended : 25-28 October, 1999
Location : Taipei World Trade Centre
*Associations*
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Member of :
- Taiwan Woodworking Machinery Association (TWMA)
*Competitors*
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The following locally based companies supply similar range of products:
- RU LONG WOOD MACHINE CO LTD
- KUANG CHIEN COMPUTER CO LTD
- JO-WAY MACHINERY CO LTD
- BEST DIAMOND INDUSTRIAL CO LTD
- ANN WAY MACHINE TOOLS CO LTD
*Local Distribution Network*
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Approximately 5% of the annual turnover is attributed to local sales.
*Export Markets*
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Approximately 95% of the annual turnover is attributed to export.
*Strategic Partners & Alliances*
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Group/Alliance name : FULPOW GROU
PAYMENT RATING : 3 OBTAINED SCORES :
57
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Rating Key |
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 Taiwan corporate law for public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*Bank Details*
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Bank name : SHANGHAI COMMERCIAL & SAVINGS BANK LTD
Branch : Taipei
Swift code : SCSBTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2006 $2,357,920.19 $102,781.14 $63,482.47
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2004 $30,000.00 $1,730,000.00 $1,760,000.00
2005 $40,000.00 $1,820,000.00 $1,860,000.00
2006 $50,000.00 $1,900,000.00 $1,950,000.00
SC is considered small sized in its line with a 16 years development history. A credit line up to USD 20,000 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 3545 Machine tool accessories, and parts,
Exporting 3553 Woodworking machines, and parts and attachments,
Trading 3500 Industrial Machinery & Equipment
Trading 3542 Machine tools metal-forming, and parts,
Trading 3545 Machine tool accessories, and parts,
Trading 3549 Metalworking machinery
Trading 3553 Woodworking machines, and parts and attachments,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Exporting 8465910002 Rip saws, used or rebuilt, woodworking sawing machines
Exporting 8465920003 Moulders, used or rebuilt, woodworking machines
Exporting 8465930004 Belt sanders, used or rebuilt, woodworking, for a belt width 60 cm or wider
Exporting 8465990005 Debarkers, woodworking machines
Exporting 8466920000 Parts for machine tools for working wood, cork, bone, hard rubber, hard plastics
or similar hard materials
Trading 8207 Interchange tools for hand- or machine-tools, bmpt
Trading 8430498050 Boring or sinking machinery
Trading 8463 Machine tools for working metal
Trading 8465100020 Woodworking machines which carry out different machining operations with out
tool changes between operations, valued under $3,025 each
Trading 8465100045 Woodworking machines, new, except tenoners, which carry out different types of
machining operations without tool change between operations
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Trader Lathes
Trader Sanders
Trader DIY woodworking machineries
Trader Panel saw
Trader Boring machines
Trader Multiboring machines
Trader Automatic planers
Trader Straight line rip saw
Trader Multiple rip saw
Trader Spindle shapers
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Africa
Exporting to Asia
Exporting to Australia
Exporting to Bangladesh
Exporting to Canada
Exporting to China
Exporting to Europe
Exporting to India
Exporting to Italy
Exporting to Middle East
Exporting to New Zealand
Exporting to North America
Exporting to Oceania
Exporting to Pakistan
Exporting to South Africa
Exporting to Sri Lanka
Exporting to Thailand
Exporting to UAE
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%)