MIRA
INFORM REPORT
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Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
WUU JING ENTERPRISE CO LTD |
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Registered Office : |
270 Feng Lin 2nd Rd Taliao Hsiang Kaohsiung Hsien 831 |
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Country : |
Taiwan |
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Date of Incorporation : |
07.10. 1994 |
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Com. Reg. No.: |
79807325 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of Scrap Steel/Metals for in-House Processing Production. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
WUU
JING ENTERPRISE CO LTD
270 FENG LIN 2ND RD TALIAO HSIANG KAOHSIUNG
HSIEN 831, TAIWAN
TEL: 886-7-7882345 FAX: 886-7-8716734
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 7, 1994
REGISTRATION NO. :
79807325
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. WU-CHING CHUANG (CHAIRMAN)
STAFF STRENGTH :
50
CAPITAL :
US$ 4,975,124
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
ABOVE AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 1,000,000 (PERIODICAL REVIEW)
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.94898 = 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
*Licenses & Permits*
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License number : 99662309
Date issued : 19 January 2001
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Comments : Serves as office
and factory
Other e-mail : wjccc@seed.net.tw
: wjcpk@seed.net.tw
wjcc@ksts.seed.net.tw
Previous Contact Details
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Address : 56 Chang Tai St
Hsiaogang Dist Kaohsiung City 812
Tel no : 7-8711121
*Factories, Size & Locations*
======================
Building Size : 651 sq. meter (Approx)
Location : Kaohsiung Hsien
Property status : Owned by WUU JING ENTERPRISE CO LTD
Facilities : Modern
Type of building : Industrial building
Comments : Serves as office, factory and warehouse
*Corporate & Organization Structure*
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A medium sized specialized company operated and managed by the owner and
a professional management team.
www.twj.com.tw The design is professional and
the content is well organized. At present it is in both Chinese and English
versions.
E-mail: twj@twj.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 4
Total number of shares: 8,770,000
Shareholders Country Number Amount %
---------------------------- ------------ ------------ ----------- ------
Mr. Hung-chung Chen Taiwan 3,000,000.00 n/a 34.21
Mr. Po-chiang Chuang Taiwan 2,870,000.00 n/a 32.73
Mr. Po-kai Chuang Taiwan 2,870,000.00 n/a 32.73
Mr. Wu-ching Chuang Taiwan 30,000.00 n/a 0.34
Management: Mr. Chung-ching
Chuang, Manager
Mr. Hung-chung Chen, Executive
Mr. Wu-ching Chuang, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Chung-ching Chuang Taiwanese
Manager Sales
Mr. Hung-chung Chen Taiwanese
Executive Sales & Marketing
Mr. Wu-ching Chuang Taiwanese
General Manager -
*COMPANY DIRECTORS*
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1
Name : Mr. Wu-ching Chuang
Nationality : Taiwan
Country of Residence : Taiwan
*Main Products & Services*
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Specializing in the following main areas of work:
1. Importing of scrap steel/metals for in-house processing production.
2. Manufacturing and/or processing a range of steel materials, including
galvanized iron tin plate, stainless steel coils, and stainless steel tubes.
3. Exports and domestic sales of its finished products.
Products: Galvanized iron tin plates
Metal plate &
sheet
Round bars
Stainless steel
channels
Stainless steel
coils
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Cash
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30 - 90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Machinery & Equipment*
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Machinery/ Equipment include:
- CNC Plasma Cutting Machine
- 20 Feet Shear Machine
*Competitors*
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The following locally based companies supply similar range of products:
- GREAT CHINA METAL INDUSTRY CO LTD
- CHUN YUAN STEEL INDUSTRY CO LTD
- CHENG SHEN METALLOGRAPHICS & CANNING CORP
- SHANG SHING STEEL INDUSTRIAL CO LTD
- LU JUI CAN MAKE ENTERPRISE CO LTD
*Local Distribution Network*
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An estimated 30% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 70% of the annual turnover is attributed to export.
*International Trade Ranking*
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The firm has been ranked among Taiwan's Top Importers/Exporters based on
the standard measured by the Board of Foreign Trade (BOFT)
Details of rank are as follows:
Year Rank
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2004 2216
2005 1565
2006 817
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 2 OBTAINED SCORES :
80
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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
FAIRLY LARGE 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.
Note: At the time of preparing this report, 2007 financial has not been
submitted to Taiwan Tax Authorities.
*BANK DETAILS*
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Bank Name : FIRST
COMMERCIAL BANK CO LTD
Branch :
Chungcheng Dist,Taipei City
Branch Address : 10Fl,
30 Chungking South Rd Section 1
SWIFT Code :
FCBKTWTP
Bank Name :
TAIWAN BUSINESS BANK
Branch :
Tatung Dist,Taipei City
Branch Address :
International Department 3Fl, 30 Ta Cheng St
SWIFT Code :
MBBTTWTP
*Int´l Trade Activity(Currency: U.S. $'s)
=============================
Year Imports Exports Total
2004 $10,504,674.02 $4,625,224.00 $15,129,898.02
2005 $11,488,681.99 $11,004,735.01 $22,493,417.00
2006 $6,281,660.01 $44,800,986.00 $51,082,646.01
*Financial Summary (Currency: U.S. $'s)
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Year Sales Net
Income
2006 $76,602,176.54 $22,974,607.01
SC is considered small-sized in its line with a development history of
14 years. Taking into consideration of SC’s general performance, a credit line
up to USD 1,000,000 appears to be within SC’s capacities upon a periodical
review basis.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 331207 Steel
Plate/Sheet/Strip
Manufacturing 3316 Cold-Rolled
Steel Products
Manufacturing 3353 Aluminum
sheet, plate, and foil, rolled or drawn
Manufacturing 3499 Fabricated
metal products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7208260030 Flat-rolled high-strength iron or nonalloy steel coils 600mm or
more wide hot-rolled, not clad, plated or coated 3 but less than 4.75mm thick,
pickled
Exporting 7219210000 Flat-rolled stainless steel 600mm wide or more hot-rolled not
coiled over 10mm thick
Exporting 7219220000 Flat-rolled stainless steel 600mm or more wide hot-rolled not
coiled 4.75 but not over 10mm thick
Exporting 7219230000 Flat-rolled stainless steel 600mm or more wide hot-rolled not
coiled 3 to under 4.75mm thick
Exporting 7219240000 Flat-rolled stainless steel 600mm or more wide hot-rolled not
coiled less than 3mm thick
Exporting 721933 Flat
rolled products of stainless steel of a width of 600mm or more; cold-rolled; of
a thickness exceeding 1mm but less than 3mm
Exporting 721934 Flat
rolled procucts of stainless steel of a width of 600mm or more; cold-rolled; of
a thickness of 0.5mm or more but less than 1mm
Exporting 7220110000 Flat-rolled stainless steel under 600mm wide hot-rolled 4.75mm
or more thick
Exporting 722012 Flat
rolled products of stainless steel of a width of less than 600mm; not further
worked than hot-rolled in coils; thickness of less than 4.75mm
Exporting 722020 Flat
rolled products of stainless steel, of a width of less than 600mm; not further
worked than cold-rolled
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Stainless steel
channels
Manufacturer Stainless steel
tubes
Manufacturer Round bars
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Afghanistan
Exporting to Argentina
Exporting to Asia
Exporting to Australia
Exporting to Belgium
Exporting to Brazil
Exporting to Bulgaria
Exporting to Canada
Exporting to China
Exporting to Colombia
Exporting to Cyprus
Exporting to Egypt
Exporting to El Salvador
Exporting to Estonia
Exporting to Europe
Exporting to France
Exporting to Guatemala
Exporting to Honduras
Exporting to Hong Kong
Exporting to India
Exporting to Iran
Exporting to Italy
Exporting to Japan
Exporting to Jordan
Exporting to Kuwait
Exporting to Libya
Exporting to Malaysia
Exporting to Mauritius
Exporting to Middle East
Exporting to Netherlands
Exporting to New Zealand
Exporting to Nigeria
Exporting to North America
Exporting to Oceania
Exporting to Peru
Exporting to Philippines
Exporting to Poland
Exporting to Qatar
Exporting to Saudi Arabia
Exporting to South Africa
Exporting to South Korea
Exporting to Syria
Exporting to Thailand
Exporting to UAE
Exporting to USA
Exporting to United Kingdom
Exporting to Vietnam
Importing from Asia
Importing from Belgium
Importing from China
Importing from Europe
Importing from Finland
Importing from Japan
Importing from South Africa
Importing from South Korea
Importing from Sweden
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%)