MIRA
INFORM REPORT
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Report Date : |
12.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
VICKERS INDUSTRIAL CO LTD |
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Registered Office : |
25 Meikong 8th St Hualien City Hualien Hsien 970 |
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Country : |
Taiwan |
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Date of Incorporation : |
16.08.1988 |
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Com. Reg. No.: |
22992314 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing marble and granite blocks. Value-added processing of granite slabs and various types of marble
for construction industry. Export and domestic sales of its raw material products. |
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 450,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
& address
VICKERS
INDUSTRIAL CO LTD
25 MEIKONG 8TH ST HUALIEN CITY HUALIEN HSIEN
970, TAIWAN
TEL: 886-3-8236075 FAX: 886-3-8230068
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUGUST 16, 1988
REGISTRATION NO. :
22992314
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHAO-YANG CHANG (CHAIRMAN)
STAFF STRENGTH :
25
CAPITAL :
US$ 11,180,124
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 450,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.91500 = 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*
================
(1)
License number : 9966661601
Date issued : 20 December 1978
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
Note : VICKERS ceased its manufacturing in Taiwan.
(2)
License number :
9966661500
Date issued : 29 September 1988
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
================
Size
: 2275 sq meters
(Approx)
Location : Hualien Hsien
Property status : Owned by VICKERS INDUSTRIAL CO LTD
Type of building : Industrial building
Comments : Serves as office, factory and warehouse
Other e-mail :
coco@mail.vks.com.tw
Note : We were unable to find any reference of the supplied address on
any local. The above address as reflected on our report was confirmed to be its
current registered/operating address.
*Corporate & Organization
Structure*
============================
A large specialized company operated and managed by an experienced team
of professionals.
SC is not known to host website of its own at present.
E-mail: vkty@ms27.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 4
Total number of shares: 30,187,000
Shareholders Country Number Amount
%
Mr. Chao-yang Chang Taiwan 18,360,000.00 n/a 60.82
Ms. Shu-chen Hsieh Taiwan 9,000,000.00 n/a 29.81
Mr. Chien-teh Chiang Taiwan 1,598,000.00 n/a 5.29
Mr. Cheng-mao Chang Taiwan 1,229,000.00 n/a 4.07
Management: Ms. Judy Chao,
Manager
Mr. Chao-yang Chang, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Judy Chao Taiwanese
Manager Sales
Mr. Chao-yang Chang Taiwanese General Manager -
*COMPANY DIRECTORS *
=====================
1
Name : Mr. Chao-yang Chang
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
======================
Specializing in the following main areas of work :
1. Importing marble and granite blocks.
2. Value-added processing of granite slabs and various types of marble
for construction industry.
3. Export and domestic sales of its raw material products.
Products: Abrasives, granular
Granite
Granite slabs
Granule,
polyurethane
Green marble
*Payment Terms*
=============
Sales
------
Local : 30 - 90 days credit
Cash
Export : Letter of Credit
(L/C)
Document against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Purchase
-------------
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)
*Competitors*
===========
The following locally based companies supply similar range of products :
- CHAU FENG CO LTD
- GO JOY STONE MATERIAL ENTERPRISE CO LTD
- TAIWAN MARBLE CO LTD
- GEMBRIGHT ENTERPRISE CORP
- DON LOONG ENTERPRISE CO LTD
*Local Distribution Network*
=======================
An estimated 38% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 62% of the annual turnover is attributed to export.
*International Trade Ranking*
========================
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
----- ------
2005 1994
2006 1215
2007 1210
*LOCAL BRANCHES & MANAGEMENT*
=================================
Branch : VICKERS INDUSTRIAL CO LTD - TAIPEI CITY
Branch Address : 11Fl, 7 Tun Hua South Rd Section 1 Sungshan Dist,
Taipei City, 105
Branch Tel : [+886] 2-25703378
Branch Fax : [+886] 2-25791410
Branch Employees : 3
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 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*
===============
Bank Name : BANK OF TAIWAN
Branch : Chungcheng
Dist,Taipei City
Branch Address : 120 Chung Ching South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : BKTWTWTP
Bank Name : TAIWAN
COOPERATIVE BANK
Branch : Chungcheng
Dist,Taipei City
Branch Address : 77 Kuan Chien Rd Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code : TACBTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2007 $36,210,018.11 $9,052,504.53 $1,478,575.74
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
1996 $2,600,000.00 $900,000.00 $3,500,000.00
1997 $14,800,000.00 $7,800,000.00 $22,600,000.00
1998 $9,900,000.00 $9,200,000.00 $19,100,000.00
2005 $5,576,541.99 $11,350,397.00 $16,926,938.99
2006 $12,971,248.00 $20,208,161.00 $33,179,409.00
2007 $13,315,628.00 $21,758,242.00 $35,073,870.00
SC is considered medium-sized in its line with a development history of
20 years. Taking into consideration of SC’s general performance, a credit line
up to USD 450,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 1423 Crushed/Broken
Granite
Trading 3251 Brick and
structural clay tile
Trading 3291 Abrasive
products
Trading 5039 Construction
Materials, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2516 Granite,
porphyry, basalt etc., crude or cut etc.
Trading 6802 Worked
monument etc stone & art; granule etc
Trading 6802930000 Granite
Trading 6805 Abrasive
powder etc on a base of text material etc
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Tiles
Trader Marble
slabs
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting
,Importing
Europe Exporting,
Importing
Middle-East Importing
Argentina Importing
Brazil Importing
Canada Exporting
China Exporting,
Importing
Finland Importing
India Importing
Italy Importing
Norway Importing
Saudi Arabia Importing
South Africa Importing
Thailand Importing
USA Exporting,
Importing
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
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%)