MIRA
INFORM REPORT
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Report Date : |
28.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAN FONG MACHINERY ENTERPRISE CO LTD |
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Registered Office : |
71, Lane 17, Tsao Hu St Hsinchu City 300 |
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Country : |
Taiwan |
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Date of Incorporation : |
31.10.2003 |
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Com. Reg. No.: |
80578102 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Local purchase of a wide range of machines and related accessories
used for lamp making as well as baking and coating. Sales and distribution of purchased products to local 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 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
SAN
FONG MACHINERY ENTERPRISE CO LTD
71, LANE 17, TSAO HU ST HSINCHU CITY 300,
TAIWAN
TEL: 886-3-5207135 FAX: 886- 3-5200739
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 31, 2003
REGISTRATION NO. :
80578102
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. TUNG-PAN LEE (CHAIRMAN)
STAFF STRENGTH :
3
CAPITAL :
US$ 30,175
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 5,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.56540 = 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
Registered Legal Address: 2, Alley 31, Lane 198, Shu Sia St Hsinchu City
300
Office & Facilities*
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Size : 152 sq. meter (Approx.)
Location : Hsinchu City
Property status : Rented
Type of building : Industrial
building
*Factories, Size & Locations*
======================
The company is a trading house focused on exportation of overseas
products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
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A small sized company operated and managed by the owner.
*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.
SC is not known to host website of its own at present.
E-mail: sf_lee66@msn.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: N/A
Shareholders Country
%
--------------------- --------- ------
Mr. Tung-pan Lee Taiwan 99.00
Undisclosed Shareholders N/A 1.00
Management: Mr. Tung-pan Lee, General Manager
Name Nationality
Job Description
Mr. Tung-pan Lee Taiwanese
General Manager
*Main Products & Services*
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Specializes in the following areas of work:
1. Local purchase of a wide range of machines and related accessories
used for lamp making as well as baking and coating.
2. Sales and distribution of purchased products to local and
international markets.
Product also include:
- Making machines for cold cathode fluorescent lamp
Products: Baking machines
Coating
machines
Lamp making machinery
*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)
Purchase
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Local : Cash
30 - 90 days
credit
*Competitors*
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The following locally based companies supply similar range of products :
- DING FENG INDUSTEIAL CO LTD
- AILTUM CO LTD
- WEI FONG INDUSTRY CO LTD
- FAR TRONICS CO LTD
- EVERLITE ELECTRIC IND CORP
*Local Distribution Network*
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An estimated 20% annual turnover is attributed to local sales.
*Export Markets*
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An estimated 80% annual turnover is attributed to export.
Note:
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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 : 4 OBTAINED SCORES :
49
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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 USD6
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 :
TAIWAN BUSINESS BANK
Branch :
Hsinchu City
Branch Address : 30 Ta
Cheng St Tatung Dist Taipei City 103 (Head Office)
SWIFT Code :
MBBTTWTP
Bank Name :
CATHAY UNITED BANK
Branch :
Hsinchu City
Branch Address : 65
Kuan Chien Rd Chungcheng Dist Taipei City 100 (Head Office)
SWIFT Code :
UWCBTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2006 $104,292.62 n/a
$6,348.25
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2004 n/a $20,184.54
$20,184.54
2005 n/a $136,514.98
$136,514.98
2006 n/a $52,296.95
$52,296.95
SC is considered small-sized in its line with a 5 years development
history. Taking into consideration of SC’s general performance, a credit line
up to USD 5,000 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 3556 Food
products machinery, and parts,
Trading 3500 Industrial
Machinery & Equipment
Trading 3556 Food
products machinery, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8438 Mach,
ind prep of food or drink etc, parts
Exporting 8438100010 Bakery machinery
Exporting 8479 Machines
etc having individual functions, parts
Trading 8438 Mach,
ind prep of food or drink etc, parts
Trading 8438100010 Bakery
machinery
Trading 8479 Machines
etc having individual functions, parts
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Baking machines
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
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%)