MIRA INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION DETAILS
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Name : |
ING YU PRECISION INDUSTRIES CO LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
26.09.1979 |
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Com. Reg. No.: |
56642765 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing press machines and precision power presses used for the production
of lead frames, electrical terminals and computer cases. |
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 : |
Usually Correct |
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Litigation : |
Clear |
Name & address
ING YU PRECISION
INDUSTRIES CO LTD
TEL: 886-4-26358569 FAX:
886-4-26353068
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 26, 1979
REGISTRATION NO. :
56642765
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. RONG-KUEI TUNG (CHAIRMAN)
STAFF STRENGTH :
40
CAPITAL :
US$ 2,111,801
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.12538 = 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 –
*Company History*
===============
1980 - Factory moved to Sha-lu and enlarged to 1,000 sq meters.
1982 - The office building was completed.
- Purchased boring
machines and machining center to process main frame of press.
1985 - Started overseas sales at China & South East Asia.
1989 - Factory was enlarged to 2,700 sq meters.
- Productivity was
increased substantially & became the leader maker of precision press in
2001 - Branches were set at
2004 - SST became exclusive agent for sales and service in
2005 -
*Licenses & Permits*
================
License number : 9963898900
Date issued : 22 May,
1980
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
=================
Size :
561.26 square meters (Approx)
Location :
Type of building : Industrial building
Property status : Owned by ING
YU PRECISION INDUSTRIES CO LTD
Comments : Serves as
office and factory
Previous Contact Details
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Address : 9Fl-1,
Tel no. : 2-27133114
Fax no. : 2-27151074
*Corporate & Organization Structure*
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A medium sized company operated and managed by an experienced team of
professionals.
www.ingyu.com
The design is professional and the content is well organized. At present it is
in English version.
E-mail: ingyu918@ms2.hinet.net
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: N/A
Shareholders Country Number Amount %
Ms. Shu-ting He
Mr. Rong-kuei Tung
Ms. Mei-yu Liu
Mr. Kuan-chun Tung
Management: Ms. Yu-mei Liu,
Supervisor
Ms. Jackie Ching-wen Chen, Representative
Mr. Kun-hung Tung, Manager
Name Nationality
Job Description Dept. / Division
Ms. Yu-mei Liu Taiwanese
Supervisor Account
Ms. Jackie Ching-wen Chen Taiwanese
Representative Sales
Mr. Kun-hung Tung Taiwanese
Manager -
Mr. Mike Tung Taiwanese
Manager -
*COMPANY DIRECTORS*
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1
Name : Mr. Rong-kuei Tung
Nationality : Taiwanese
Country of Residence :
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Manufacturing press machines and precision power presses used for the
production of lead frames, electrical terminals and computer cases.
2. Marketing and sales of electron components to
Products also include:
- Knuckle-type pressing machine
- Link-motion-type pressing machines
Products: Boiler parts
Crank presses
Eccentric
presses
High speed
presses
Knuckle joint
presses
*Brand*
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ING YU
*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 /DA
terms with settlement using Telegraphic/Transfer (T/T)
*Exhibition Participation*
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Participated in the following local exhibitions:
(1)
Exhibition fair :
Dates attended : 18-23 March,
2003
Location : Taipei
World Trade Center- Exhibition Hall
(2)
Exhibition fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates attended : 15-20 March,
2005
Location :
(3)
Exhibition fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates attended : 12-17 March,
2007
Location :
*Associations*
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Member of:
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- Chinese professional Management Association of Taichung
*Competitors*
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The following locally based companies supply similar range of products :
- HSIN LIEN SHENG MACHINERY CO LTD
- ACTION MACHINERY INDUSTRY CO LTD
- CHANTO AIR HYDRAULICS CO LTD
- CHIN FONG MACHINE INDUSTRIAL CO LTD
- SANES PRESSES CO LTD
- AMADA TAIWAN INC
- CHIN FONG MACHINE INDUSTRIAL CO LTD
- TIAN SYH MACHINE INDUSTRIAL CO LTD
- LONG JYI MACHINERY CO LTD
- LI CHIN (PMI) CO LTD
*Detailed Product Specifications*
==========================
Product : Precision press
Series
Type
Model
Capacity (tons)
--------- ---------
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IHD High-speed
two-plunger
IHD-30/45/60/80/125
30~125
IHD High-speed
two-plunger IHD-200/300 200~300
CH Gap frame
high speed
CH-15/25/35/45 15~45
CH
C-type
---
---
LP Straight
side link drive
LP-110/150/200/250
110~250
ICP Gap frame
single-crank
ICP-35/45/60/80/110
150/200/250
35~250
*Local Distribution Network*
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30% of the annual turnover is attributed to local sales.
*Export Markets*
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70% of the annual turnover is attributed to export worldwide.
*OVERSEAS AGENTS AND DISTRIBUTORS*
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Agent : CHAMPION MACHINE TOOLS (
Country of Origin :
Product Description : Metalworking machinery
Brand : Ing Yu
Year : 2000
Agent :
Country of Origin :
Agent : ING YU INT'L LLC
Country of Origin :
Agent : UNITECH METALSTAMPING TECHNOLOGIES PVT LTD
Country of Origin :
Agent : JUNG BANG TRADING CO LTD
Country of Origin :
Agent : ZABTEC CO LTD
Country of Origin :
Agent : GLOBAL TOOLS & MACHINES PTY LTD
Country of Origin :
Agent : TASMAN AUTOMATION SERVICES LTD
Country of Origin :
Agent : MAWI GMBH
Country of Origin :
Agent : MARK TECHNO
Country of Origin :
PAYMENT RATING : 3 OBTAINED SCORES : 60
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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.
*BANK DETAILS*
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Bank Name : TAIWAN BUSINESS BANK
Branch : Shalu Chen,
Branch Address : International Department 3Fl,
SWIFT Code : MBBTTWTP
*Financial Summary (Currency:
==============================
Year Sales Assets Net Income
2007 $8,147,254.07 $2,021,726.01 $392,275.20
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2005 $850,000.00 $4,200,000.00 $5,050,000.00
2006 $80,000.00 $3,800,000.00 $3,880,000.00
2007 $150,000.00 $4,500,000.00 $4,650,000.00
SC is considered small-sized in its line with a development history of
29 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 3549 Metalworking
machinery
Manufacturing 3552 Textile
machines, and parts and attachments,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8462100010 Forging
or die-stamping machines (including presses) and hammers, metal forming, used
or rebuilt
Exporting 8462490010 Punching
or notching machines (inc presses), including combined punching and shearing
machines, metal forming, except n/c, used or rebuilt
Exporting 8479 Machines
etc having individual functions, parts
Exporting 8543 Electrical
mach etc, with
Exporting 8543809080 Electrical
machines and apparatus
Manufacturing 8452900090 Parts
of sewing machines
Manufacturing 8462100010 Forging
or die-stamping machines (including presses) and hammers, metal forming, used
or rebuilt
Manufacturing 8462100050 Forging
or die-stamping machines (including presses) and hammers, except headers and
upsetters, metal forming, new
Manufacturing 8462910030 Hydraulic
presses, metal forming, used or rebuilt
Manufacturing 8462910060 Hydraulic
presses, metal forming, numerically controlled, new
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Power presses
Manufacturer Mechanical
presses
Manufacturer Stainless steel
products
Manufacturer Boiler parts
Manufacturer Sewing machine
spare parts
Manufacturer Crank presses
Manufacturer Eccentric
presses
Manufacturer Precision power
presses
Manufacturer Knuckle joint
presses
Manufacturer High speed
presses
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region
Pacific Exporting
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.74 |
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1 |
Rs.74.37 |
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Euro |
1 |
Rs.62.78 |
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%)