MIRA
INFORM REPORT
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Report Date : |
26.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
VERTEX MACHINERY WORKS CO LTD |
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Registered Office : |
1FL, 296 Feng Shih Rd Section 1 Fengyuan
City Taichung Hsien 420 |
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Country : |
Taiwan |
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Date of Incorporation : |
19.02. 1982 |
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Com. Reg. No.: |
55947515 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing a range of machine tools and precision components for
in-house OEM use. Manufacturing of various types of high precision machines and
accessories. |
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
VERTEX
MACHINERY WORKS CO LTD
1FL, 296 FENG SHIH RD SECTION 1 FENGYUAN
CITY
TAICHUNG HSIEN 420, TAIWAN
TEL: 886- 4-25238742 FAX: 886-4-25234823
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 19, 1982
REGISTRATION NO. :
55947515
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. STEVE HAN-NUNG HUANG (CHAIRMAN)
STAFF STRENGTH :
52
CAPITAL :
US$ 1,326,700
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 30.46998 = 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
*Office & Facilities*
===============
Size :
3,607 square meter (Approx)
Location : Taichung Hsien
Property status : Owned by
VERTEX MACHINERY WORKS CO LTD
Type of building : Industrial
building
Comments : Serves as
office and factory
Other Contact Details
-----------------------------
Tel nos : 4-25237596 / 2-25237621/2
Fax no :
4-25205905
E-mail address : -
vertex@ms9.tisnet.net.tw
- vertex.co@msa.hinet.net
Previous address: 54, Lane 8, Dah Shun St, Fengyuan City, Taichung Hsien
420
*Corporate & Organization Structure*
=============================
A small -medium sized company operated and managed by the owner and an
experienced team of
professionals.
*Licenses & Permits*
=================
License number : 9964030201
Date issued : 14
January, 2003
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory
license
*Industry Ranking*
===============
Ranked by CETRA, Taiwan's trade promotion organization, as the largest
exporter of Taiwan-made machine accessories.
Web
site: www.vertex-tw.com.tw
the design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: vertex.huang@msa.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: 2
Total number of shares: N/A
Shareholders Country Number Amount %
------------------ ---------- ----------- -------- ------
Mr. Steve Han-nung Huang Taiwan n/a n/a 99.00
Undisclosed Shareholders n/a n/a n/a 1.00
Management: Mr. Steve Han-nung Huang, General Manager
Name Nationality
Job Description
Mr. Steve Han-nung Huang Taiwanese
General Manager
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Steve Han-nung Huang
Nationality : Taiwan
Country of Residence : Taiwan
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Importing a range of machine tools and precision components for
in-house OEM use.
2. Manufacturing of various types of high precision machines and
accessories.
3. Selling to both domestic and
international markets
Products also include metal forming, shearing and folding mold.
Products: Band sawing machines
Boring bars
CNC machine
tools
CNC machines
Chucks
*Brand*
======
VERTEX
*Payment Terms*
==============
Sales
-------
Local : 30-90 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
--------------
Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Quality Certification*
=================
Type of certification : ISO
9001
*Exhibition Participation*
===================
Participated in the following local exhibitions:
(1)
Exhibition/Fair : TAIPEI
AUTOMAT - Taipei International Automation & Precision Machinery Show
Dates Attended : 09-13 May, 2000
Location : Taipei
World Trade Center (TWTC)
(2)
Exhibition/Fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates Attended : 20-25 March, 2001
Location : Taipei
World Trade Center (TWTC)
(3)
Exhibition/Fair : TAIPEI
AUTOMAT - Taipei International Automation & Precision Machinery Show
Dates Attended : 19-23 March, 2002
Location : Taipei
World Trade Center (TWTC)
(4)
Exhibition/Fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates Attended : 18-23 March,
2003
Location : Taipei
World Trade Center (TWTC)
(5)
Exhibition/Fair :
Manufacturing Taipei - Taipei Int'l Manufacturing Technology Show
Dates Attended : 03-07 May, 2006
Location : Taipei
World Trade Center (TWTC)
(6)
Exhibition/Fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates Attended : 12-17 March, 2007
Location : Taipei
World Trade Center (TWTC)
*Associations*
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Member of the following associations:
- Taiwan Association of Machinery Industry
- Taiwan Mold & Die Industry Association
*Competitors*
===========
The following locally based firms supply similar range of products:
- BEST DIAMOND INDUSTRIAL CO LTD
- HONGIA INDUSTRY CO LTD
- LI YANG DIAMOND INDUSTRIAL CO LTD
- WELL LANDS ENTERPRISE CO LTD
- UEI JONG JANG CO LTD
*Local Distribution Network*
======================
20% of the annual turnover is attributed to local sales.
*International Trade Activity*
======================
Note: At the time of preparing this report, the Ministry of Economic
Affairs had not yet released trade figures for 2007.
*Export Markets*
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80% of the annual turnover is attributed to export to more than 60
countries.
*Overseas Customers*
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Maintains 100 major customers in 63 nations
*International Exhibition Participation*
==============================
Exhibition/Fair :
Manufacturing Technology Philippines 2000
Dates Attended : 21-24 September, 2000
Location : World
Trade Center Metro Manila, Philippines
*OVERSEAS AGENTS AND DISTRIBUTORS*
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Agent : JIFUK METAL & MACHINERY CO LTD
Country of Origin : Hong Kong
Product Description : Tools
Brand : Vertex
Year : 2002
Agent : ME INDUSTRIAL MACHINERY INC
Country of Origin : Philippines
Product Description : Metalworking machinery
Year : 2000
Agent : ME INDUSTRIAL MACHINERY INC
Country of Origin : Philippines
Product Description : Metalworking tools
Year : 2000
Agent : ME INDUSTRIAL MACHINERY INC
Country of Origin : Philippines
Product Description : Metalworking equipment
Year : 2000
Agent : ME INDUSTRIAL MACHINERY INC
Country of Origin : Philippines
Product Description : CNC machines
Year : 2000
Agent : ICHI SEIKI PTE LTD
Country of Origin : Singapore
Product Description : Machine tool accessories
Brand : Vertex
Year : 1990
PAYMENT RATING : 3 OBTAINED SCORES :
69
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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 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*
===============
Bank Name : CITIBANK NA
Branch : Sungshan Dist,Taipei City
Branch Address : Walsin Financial Bldg 117-1 Min Sheng East Rd Section
3
SWIFT Code : CITITWTX
Bank Name : TAIPEI FUBON COMMERCIAL BANK CO LTD
Branch : Chungshan Dist,Taipei City
Branch Address : 50 Chung Shan North Rd Section 2
SWIFT Code : TPBKTWTP
*Financial Summary (Currency: U.S. $'s)
================================
Year Sales Net
Income
2006 $14,298,669.89 $876,662.64
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2004 $300,000.00 $9,680,000.00 $9,980,000.00
2005 $330,000.00 $10,530,000.00 $10,860,000.00
2006 $350,000.00 $10,970,000.00 $11,320,000.00
SC is considered small-sized in its line with a development history of
26 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 3500 Industrial
Machinery & Equipment
Manufacturing 3500 Industrial
Machinery & Equipment
Manufacturing 3541 Machine
tools, metal-cutting, and parts,
Manufacturing 3542 Machine
tools metal-forming, and parts,
Manufacturing 3544 Special
dies, tools, jigs, and fixtures
Manufacturing 3545 Machine
tool accessories, and parts,
Manufacturing 3549 Metalworking
machinery
Manufacturing 3599 Machinery,
except electrical, and parts,
Manufacturing 5084 Industrial
Machinery/Equip
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8461 Machine
tools for shaping, slotting, gear cut etc
Exporting 8479 Machines
etc having individual functions, parts
Manufacturing 8203300000 Metal
cutting shears and similar tools, and parts
Manufacturing 8207903085 Other
intrchngble cutting tools with cutting part over 0.2 pct of chromium, molybdenum
or tungsten o over 0.1 pct vanadium, by weight.
Manufacturing 8207907585 Other
interchangeable tools, other than router bits and cutterheads, not for
handtools, not for cutting metal, and parts thereof.
Manufacturing 8302 Hardware,
fixtures, castors etc & parts, base metal
Manufacturing 8456301020 Machine
tools for working metal, by electro-discharge processes, traveling wire
(wire-cut) type
Manufacturing 8459510080 Milling
machines, knee type, numerically controlled, new, metal removing
Manufacturing 8461 Machine
tools for shaping, slotting, gear cut etc
Manufacturing 8462 Machine
tools for forging, bending, stamping etc
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Metalworking
machinery
Manufacturer Metalworking
tools
Manufacturer CNC machines
Manufacturer Machine tool
parts
Manufacturer Collet chuck
Manufacturer Milling machine
parts
Manufacturer Industrial
machinery
Manufacturer Machine accessories
Manufacturer Complex
machines
Manufacturer Milling machine,
knee-type
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Argentina
Exporting to Asia
Exporting to Australia
Exporting to Austria
Exporting to Belgium
Exporting to Brazil
Exporting to Bulgaria
Exporting to Canada
Exporting to Chile
Exporting to China
Exporting to Colombia
Exporting to Czech Republic
Exporting to Denmark
Exporting to Ecuador
Exporting to Egypt
Exporting to Europe
Exporting to Finland
Exporting to France
Exporting to Germany
Exporting to Greece
Exporting to Guatemala
Exporting to Hong Kong
Exporting to India
Exporting to Indonesia
Exporting to Iran
Exporting to Israel
Exporting to Italy
Exporting to Japan
Exporting to Jordan
Exporting to Kuwait
Exporting to Latvia
Exporting to Lebanon
Exporting to Luxembourg
Exporting to Malaysia
Exporting to Mexico
Exporting to Middle East
Exporting to Netherlands
Exporting to New Zealand
Exporting to Norway
Exporting to Oceania
Exporting to Pakistan
Exporting to Paraguay
Exporting to Philippines
Exporting to Poland
Exporting to Portugal
Exporting to Romania
Exporting to Russia
Exporting to Singapore
Exporting to South Africa
Exporting to South Korea
Exporting to Spain
Exporting to Sri Lanka
Exporting to Sweden
Exporting to Switzerland
Exporting to Syria
Exporting to Thailand
Exporting to Turkey
Exporting to UAE
Exporting to USA
Exporting to Ukraine
Exporting to United Kingdom
Exporting to Venezuela
Exporting to Vietnam
Importing from Asia
Importing from 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%)