MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
TINCAN COMPONENT INDUSTRIES CO LTD |
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Registered Office : |
3FL, 225 Wumiao Rd Linya Dist Kaohsiung City 802 |
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Country : |
Taiwan |
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Date of Incorporation : |
09.04.1997 |
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Com. Reg. No.: |
97154326 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing of tin plates and related products. Sales and distribution of manufactured products to domestic and
international markets. |
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 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
TINCAN
COMPONENT INDUSTRIES CO LTD
3FL, 225 WUMIAO RD LINYA DIST KAOHSIUNG CITY
802, TAIWAN
TEL: 886-7-7020777 FAX: 886-7-7038000
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 9, 1997
REGISTRATION NO. :
97154326
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. KUN-LIANG CHIU (CHAIRMAN)
STAFF STRENGTH :
26
CAPITAL :
US$ 164,204
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 10,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.40500 = 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
Trading Name / DBA: CHU HUEI STEEL INDUSTRIAL CORP
*Trading Names*
=============
Although the company is legally registered by the name listed above, it
commonly uses the "trading name" of CHU HUEI STEEL INDUSTRIAL CORP
under which it markets. However, there exists no legal entity in association
with this business name, and there is NO registration in Taiwan of this Trading
name, "CHU HUEI STEEL INDUSTRIAL CORP".
*Licenses & Permits*
================
License number : 9966275900
Date issued : 30
June 1998
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
===============
Size :
100 square meters (Approx.)
Location :
Kaohsiung City
Facilities :
Semi-modern
Property status : Rented
Type of building : 5-storey
building
Other contact details
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Tel no. : 886-991118077 / 7-7033111
Fax no. : 886-991118677
E-mail :
tony_hsieh@tinplate.com.tw
tcic_chsico@hotmail.com
20060901.mailbox@m2k.com.tw
tincan_tw@sina.com.tw
Previous Contact Details
---------------------------------
Address : 11Fl,
197 Chung Jen St 831
Fax No. :
2-81924283
*Factories, Size & Locations*
======================
Size :
200 square meters (Approx.)
Location : Outer
suburb of Kaohsiung City
Facilities :
Semi-modern
Property status : Rented
Type of building : Industry building
*Corporate & Organization Structure*
============================
A small sized company operated and managed by the owner and an
experienced team of professionals.
www.tinplate.com.tw
The design is professional and the content is well organized. At present it is
in English version.
E-mail: tcictinplate@mail2000.com.tw
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 Yi-chu Wang
100,000
Ms. Wan-jung Lee
100,000
Mr. Kun-liang Chiu
300,000
Mr. Chia-liang Chiu --
Previous Shareholders
No of Shares
-------------------------------
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Ms. Wan-jung Lee
160,000
Mr. Chia-liang Chiu 150,000
Mr. Kun-liang Chiu
130,000
Ms. Yi-chu Wang
20,000
Management: Ms. Anita Hui-yueh
Chiu, Manager
Mr. Anthony Chung-cheng Hsieh, Manager
Mr. David Chiu, Representative
Name Nationality
Job Description Dept. / Division
Ms. Anita Hui-yueh Chiu Taiwanese
Manager Factory
Mr. Anthony Chung-cheng Hsieh Taiwanese
Manager Sales
Mr. David Chiu Taiwanese
Representative Sales
*Main Products & Services*
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Specializes in the following areas of work:
1. Manufacturing of tin plates and related products.
2. Sales and distribution of manufactured products to domestic and
international markets.
3. Also provides coating/lithography services.
*Brand*
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CHSICO
TCIC
Products: Aerosol cans
Aerosol screw
cans
CD tin boxes
Can with brush
Coatings
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Document against
Acceptance (D/A)
*Detailed Product Specifications*
==========================
99% of its total turnover is attributed to Tinplate.
*Quality Certification*
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Materials being used for canning industry, conforms with the following
standards:
- Japanese tinplate control standard, JIS G330
- Tin Free Steel (TFS) up to Japanese electrolytic chromium plated
standard JIS G3315
*Machinery & Equipment*
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Machinery/ Equipment include:
Machine/Equipment Brand Year Purchased Country of Origin
------------------------- ----------- ------------------- -------------------
Automated high-speed body maker
SOUNDRONIC
1998
USA
Automated Spraying machines SPRIMAG 1999 Germany
Two-color printing FUJI Primex 1999 Japan
Coating machines CARABTREE-VICKER 1998 United Kingdom
Baking ovens for coatings LTG 2000 W. Germany
Coil slitting machines (3) Local brands 1998 Taiwan
Note:
SOUNDRONIC is produced by one of the world leaders in can manufacturing
equipment:
AMJ Industries Inc. in USA.
Spritzmaschinenbau GmbH & Co. KG
Henriettenstrasse 90
D-73230 Kirchheim/Teck
Tel.: +49 (0) 70 21 / 5 79-0
Fax: +49 (0) 70 21 / 4 17 60
E-Mail: info@sprimag.de
Internet: www.sprimag.de
GERMANY
*Competitors*
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The following locally based firms supply similar range of
products/services :
- FU SHING CAN & METAL MFG CO LTD
- GREAT CHINA METAL INDUSTRY CO
LTD
- LONG KUANG TRADING CO LTD
- CHAIN WIT CORP
- CHI FENG CAN MAKING CO LTD
*Domestic Raw Materials Suppliers*
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Currently purchasing their tinplate raw materials from a number of local
importers. Tin plate being used by TINCAN mostly originates from Japan and
Korea.
*Domestic Customers*
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Mostly supplying local canned foods and canned drink manufacturers.
*Local Distribution Network*
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80% annual turnover is attributed to local sales.
*Export Markets*
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20% annual turnover is attributed to export.
Note :
However, the above figures ONLY represents exports from Taiwan and not
exports made by the firm from Vietnam directly to overseas customers
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains factory in Vietnam.
PAYMENT RATING : 3 OBTAINED SCORES :
58
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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 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 local corporate law for
public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*BANK DETAILS*
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Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Kaohsiung City
Branch Address : 38 Tzu Yu Rd Section 2 Central Dist Taichung City 400
(Head Office)
SWIFT Code : CCBCTWTP
Bank Name : FAR EASTERN INT'L BANK
Branch : Taipei City
Branch Address : 2FL, 30, Sec 1 Chung King Rd
SWIFT Code : FEINTWTP
Bank Name : KAOHSIUNG BUSINESS BANK
Branch : Kaohsiung City
Branch Address : 87 Chung Cheng 4 Rd Chienchin Dist Kaohsiung City 801
(Head Office)
SWIFT Code : This bank does not have a SWIFT Code
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2003 $170,000.00 $80,000.00 $250,000.00
2004 $140,000.00 $20,000.00 $160,000.00
2005 $340,000.00 $70,000.00 $410,000.00
2006 $11,000.00 $73,000.00 $84,000.00
2007 $14,000.00 $85,000.00 $99,000.00
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2007 $101,991.55 $110,138.81 $2,703.68
SC is considered small-sized in its line with a development history of
11 years. Taking into consideration of SC’s general performance, a credit line
up to USD 10,000 would appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 1099 Metallic
ores,
Manufacturing 331207 Steel
Plate/Sheet/Strip
Manufacturing 3400 Fabricated
Metal Products
Manufacturing 3411 Metal
cans
Manufacturing 3499 Fabricated
metal products,
Trading 331207 Steel
Plate/Sheet/Strip
Trading 3400 Fabricated
Metal Products
Trading 3411 Metal
cans
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7326901000 Other articles of tinplate (not household)
Importing 7210120000 Flat-rolled iron or nonalloy steel 600mm or more wide coated or
plated with tin, less than 0.5mm thick
Manufacturing 7326901000 Other
articles of tinplate (not household)
Manufacturing 8000 Tin
& articles thereof
Manufacturing 8300 Miscellaneous
articles of base metal
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Square metal
cans
Manufacturer Ink cans
Manufacturer Round pails
Manufacturer CD tin boxes
Manufacturer Refillable
aluminum spray cans
Manufacturer Round can
Manufacturer Tuna cans
Manufacturer General cans
Manufacturer Can with
brush
Manufacturer Pail closer
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Australia
Exporting to Europe
Exporting to Middle East
Exporting to Oceania
Exporting to Saudi Arabia
Importing from Asia
Importing from USA
Importing from Vietnam
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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%)