MIRA
INFORM REPORT
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Report Date : |
16.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
KING MACHINERY CO LTD |
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Registered Office : |
20 Ting Hu 1 St Kueishan Hsiang Taoyuan Hsien 333 |
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Country : |
Taiwan |
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Date of Incorporation : |
27.08. 1963 |
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Com. Reg. No.: |
33172101 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Research and development of technologies related to refrigerated
machinery. Manufacturing of various types of refrigerated machinery. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
KING
MACHINERY CO LTD
20 TING HU 1 ST KUEISHAN HSIANG TAOYUAN
HSIEN 333, TAIWAN
TEL: 886-3-3972271 FAX: 886-3-3978524
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUGUST 27, 1963
REGISTRATION NO. :
33172101
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. HO-KUEI CHEN (CHAIRMAN)
STAFF STRENGTH :
150
CAPITAL :
US$ 22,222,222
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 100,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.87203 = 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
*Company Registration*
==================
(1)
License number : 33172101
Date issued : 27 August, 1963
Issuing authority : Ministry of Economic Affairs
(2)
License number : 76380579
Date issued : 1 June, 1982
Issuing authority : Ministry of Economic Affairs
Type of license : Kaohsiung Branch License
*Licenses & Permits*
=================
License number : 9962385200
Date issued :
31 May 1984
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
================
Size : 10,048 sq. meters (Approx)
Location : Taoyuan Hsien
Property status : Owned by KING MACHINERY CO LTD
Type of building : Industrial building
Comment : Serves as office and factory.
Other tel no : 3-3281226
Previous contact details
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(1)
Address : 4Fl, 92 Tin Hua South
Rd Section 2 Taipei
Tel no : 2-7020200
(2)
Address : 38 Ting Hu Rd Kueishan
Hsiang Taoyuan Hsien 333
*Corporate & Organization Structure*
============================
A medium-sized company operated and managed by an experienced team of
professionals.
Web
site: www.kingmach.com.tw
the design is professional and the content is well organized. At present it is
in Chinese version.
E-mail: edward@kingmach.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 6
Total number of shares: 16,863,531
Shareholders Country Number Amount %
------------------------ ------------ ------------- ----------- --------
Mr. Cha-man Chen Taiwan 6,944,687.00 n/a 41.18
Mr. Tien-lin Chen Taiwan 6,785,269.00 n/a 40.24
Mr. Ho-kuei Chen Taiwan 1,880,519.00 n/a 11.15
Mr. Cheng-tang Wu Taiwan 642,315.00 n/a 3.81
Mr. Tso-tung Chang Taiwan 365,162.00 n/a 2.17
Ms. Wen-ti Chu Taiwan 245,579.00 n/a
1.46
Management: Mr. Yi-chang Huang,
Manager
Ms. Chia-yu Chiu, Executive
Name Nationality
Job Description Dept. / Division
Mr. Yi-chang Huang Taiwanese Manager Sales
Ms. Chia-yu Chiu Taiwanese
Executive Sales & Marketing
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Ho-kuei Chen
Nationality : Taiwan
Country of Residence : Taiwan
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Research and development of technologies related to refrigerated
machinery.
2. Manufacturing of various types of refrigerated machinery.
3. Selling of manufactured products to both domestic and international
market.
Products: AC motors
Air-conditioner
parts
Air-conditioners
Air-conditioning
compressors
Automotive
air-conditioners
*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)
Open
account/Documents against Acceptance (D/A) terms with settlement using Telegraphic
Transfer (T/T)
*Competitors*
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The following locally based firms supply similar range of products :
- CHIN LANG AUTOPARTS CO LTD
- SHU-HO ENTERPRISE CO LTD
- TAIWAN GENERAL EXPORTERS LTD
- HO TAI DEVELOPMENT CO LTD
- KING POST INDUSTRIAL CO LTD
*Domestic Customers*
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Although the domestic market represents a minor percentage of sales,
most of domestic sales are achieved through direct sales to local customers.
*Local Distribution Network*
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Approximately 60% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 40% of the annual turnover is attributed to export.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : KING MACHINERY CO LTD - KAOHSIUNG CITY
Branch Address : 467 Fei chi Rd Hsiaogang Dist, Kaohsiung City, 812
Branch Tel : [+886] 7-8011933
Branch Fax : [+886] 7-8016614
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : SHIJIAZHUANG GUOXIANG REFRIGERATION EQUIPMENT CO LTD
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Machinery
Company Name : ZHE JIANG GUOXIANG REFRIGERATION EQUIPMENT CO LTD
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Machinery
PAYMENT RATING : 3 OBTAINED SCORES :
65
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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
MODERATE amounts depending on individual judgement experience.
As a private limited company 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 yet
been submitted to Taiwan Tax Authorities.
*BANK DETAILS*
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Bank Name : TAIWAN BUSINESS BANK
Branch : Tatung Dist,Taipei City
Branch Address : International Department 3Fl, 30 Ta Cheng St
SWIFT Code : MBBTTWTP
Financial Summary (Currency: U.S. $'s)
=============================
Year Sales Assets Net Income
2004 $12,030,075.19 $2,854,135.34 $887,218.05
2005 $12,922,590.84 $2,881,516.59 $982,622.43
2006 $13,029,020.56 $2,648,125.76 $816,203.14
Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2004 $650,000.00 $1,350,000.00 $2,000,000.00
2005 $750,000.00 $2,000,000.00 $2,750,000.00
2006 $1,470,000.00 $5,010,000.00 $6,480,000.00
SC is considered small-sized in its line with a development history of 45
years. Taking into consideration of SC’s general performance, a credit line up
to USD 100,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3564 Fans
and blowers, except household type; dust collection and air purification
equipment; and parts,
Exporting 3585 Refrigeration
and heating equipment
Exporting 3699 Electrical
equipment and supplies, and parts,
Importing 3563 Air
and gas compressors, and parts and attachments,
Importing 3564 Fans
and blowers, except household type; dust collection and air purification
equipment; and parts,
Importing 3621 Electric
motors, generators, generator sets, rotating converters, and parts and
accessories,
Importing 5075 Heating
& A/C Equip/Supplies
Manufacturing 3585 Refrigeration
and heating equipment
Manufacturing 5075 Heating
& A/C Equip/Supplies
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8414599080 Fans
Exporting 8415200000 Automotive air conditioners
Exporting 8415900000 Parts, of air conditioning machines
Exporting 8418990005 Refrigeration condensing units, not exceeding 746 w
Exporting 9032896020 Control instruments for air conditioning, refrigeration or
heating systems
Importing 8414304000 Compressors, refrigerating and air-conditioning, not exceeding
1/4 horsepower
Importing 8414599080 Fans
Importing 8415830070 Heat exchangers, not incorporating a refrigerating unit
Importing 8419505000 Heat exchange units
Importing 8501524000 Ac motors, multi-phase, exceeding 750 w but not exceeding 14.92
kw
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Fans
Importer AC motors
Importer Air-conditioning
compressors
Importer Heat exchange
units
Importer Heat
exchangers
Manufacturer Space heaters
Manufacturer Jec inducting
system
Manufacturer Environment
control equipment
Manufacturer Automotive
air-conditioners
Manufacturer Ventilation
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to China
Exporting to Europe
Exporting to Germany
Exporting to India
Exporting to Japan
Exporting to Middle East
Exporting to North America
Exporting to Saudi Arabia
Exporting to UAE
Exporting to USA
Exporting to United Kingdom
Exporting to Vietnam
Importing from Asia
Importing from China
Importing from Europe
Importing from France
Importing from Germany
Importing from North America
Importing from Thailand
Importing from USA
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%)