MIRA
INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
UNION ELECTRIC MFG CORP |
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Registered Office : |
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Country : |
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Date of Incorporation : |
08.01.1974 |
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Com. Reg. No.: |
47038061 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Research and Development of technologies related to turn-key manufacturing
operations for fluorescent lamps and bulbs. Local purchasing of various types of machines which are used to
manufacture fluorescent tube lighting and also normal house lighting lamps. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
UNION
ELECTRIC MFG CORP
TEL: 886-3-5775160 FAX: 886-3-5772586
EXECUTIVE SUMMARY
INCORPORATION DATE : JANUARY 8, 1974
REGISTRATION NO. :
47038061
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MRS. I-TE LIN WEN (CHAIRMAN)
STAFF STRENGTH :
3
CAPITAL :
US$ 186,335
BUSINESS LINE : TRADER
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 33.30418 = 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 –
*Office & Facilities*
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Size :
342.11 sq. meters (Approx)
Location :
Property status : Owned by
Mrs. I-te Lin wen.
Type of building :
Residential Dist
Other tel no. :
3-5775161
Previous address :
*Factories, Size & Locations*
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The company is a trading house focused on exports of overseas products,
and maintains no manufacturing facilities.
*Corporate & Organization Structure*
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A small sized company operated and managed by an experienced team of
professionals.
SC is not known to host website of its own at present.
E-mail: union178@hotmail.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: n/a
Shareholders Country Number Amount %
Mrs. I-te Lin Wen
Undisclosed Shareholders n/a n/a n/a 1.00
Management: Mr. Chien-hung Lin,
Manager
Mr. Ta-chun Lin, Manager
Name Nationality
Job Description
Mr. Chien-hung Lin Taiwanese
Manager
Mr. Ta-chun Lin Taiwanese Manager
*COMPANY DIRECTORS*
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1
Name : Mrs. I-te Lin Wen
Nationality : Taiwanese
*Main Products & Services*
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Specializes in the following areas of work:
1. Research and development of technologies related to turn-key
manufacturing operations for fluorescent lamps and bulbs.
2. Local purchasing of various types of machines which are used to
manufacture fluorescent tube lighting and also normal house lighting lamps.
3. Selling machinery and related parts to local and international
markets.
Operated in Motor/ Machinery factory
Products: Electric parts
Industrial
equipment
Industrial machinery
Lamps
Machine parts
*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
*Competitors*
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The following locally based companies supply similar range of products :
- BONMART ENTERPRISE CORP
- CHERN YEH MACHINERY CO LTD
- CHIA CHANG MACHINERY CO LTD
- CHING HWEE INT'L TRADING CO LTD
- COMAX MACHINERY CO LTD
*Local Distribution Network*
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An estimated 27% of the annual turnover is attributed to local
sales.
*International Trade Activity*
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Note : The Import figures listed
above, are not actual products being imported by UNION ELECTRIC MFG CORP, but a
small percentage of returned goods manufactured by the firm.
*Export Markets*
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An estimated 73% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT
RATING : 3 OBTAINED SCORES : 52
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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 SMALL
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 : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address : 10Fl,
SWIFT Code : FCBKTWTP
Bank Name : TAIWAN BUSINESS BANK
Branch : Tatung Dist,
Branch Address : International Department 3Fl,
SWIFT Code : MBBTTWTP
*Financial Summary (Currency:
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Year Sales Assets Net Income
2007 $1,653,590.83 $184,067.59 $81,472.54
*Int´l Trade Activity (Currency:
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Year Imports Exports Total
2005 n/a $280,000.00
$280,000.00
2006 n/a $580,000.00
$580,000.00
2007 $30,000.00 $1,200,000.00 $1,230,000.00
SC is considered small-sized in its line with a long development history.
Taking into consideration of SC’s general performance, a credit line up to USD
20,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3500 Industrial
Machinery & Equipment
Exporting 3541 Machine tools,
metal-cutting, and parts,
Exporting 3542 Machine tools
metal-forming, and parts,
Exporting 3569 General
industrial machinery and equipment, and parts,
Exporting 3648 Lighting
equipment, (including commercial)
Exporting 3699 Electrical
equipment and supplies, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8207 Interchange
tools for hand- or machine-tools, bmpt
Exporting 8475 Machines
for assembling elec tubes etc & glass mfr, parts
Exporting 8475901000 Parts
of machines for assembling electric or electronic lamps, tubes or
flashbulbs,
in glass envelopes
Exporting 8479 Machines etc having individual
functions, parts
Exporting 8543 Electrical
mach etc, with
Exporting 9405 Lamps
& lighting fittings & parts etc
Exporting 9405910000 Parts
of glass for lamps and lighting fittings
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Electric
parts
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)