MIRA INFORM REPORT
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Report Date : |
22.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
KING MACHINERY CO., LTD. |
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Registered Office : |
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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 : |
Joint Stock Company |
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Line of Business : |
Manufacturing and
sales of screw type chiller, ice storage tank, air cooled chiller unit, air-conditioning
box, computermatic packages, slim air conditioner, fan coil unit, jet
inducting system, air conditioning for transport equipment, and kinds of
axial fans for draught fans and windmill |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 80,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Taiwan |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Contact Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
20, Ting-Hu, 1st
Street, Kuei-Shan Hsiang, Tao-Yuan County Taiwan R.O.C., Tainan |
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Supplied Address: |
20, Ting-Hu, 1st Street, Kuei-Shan Hsiang,
Tao-Yuan County Taiwan R.O.C., Tainan |
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Telephone Number: |
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Fax Number: |
Credit Summary
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Credit Rating: |
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Credit Opinion: |
Company Identification Details
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Registered Name: |
King Machinery Co., Ltd. |
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Registered
Address: |
|
|
Registry: |
Taipei City Government |
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Registered
Capital: |
NTD
670,000,000 (USD 23,182,000) (As of 2011.04, 1 NTD =
0.0346 USD) |
|
Paid-up Capital: |
NTD 367,700,000
(USD 12,722,420) |
|
Legal
Representatives: |
Hegui Chen |
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Legal Form: |
|
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Principal
Activities: |
Manufacturing
and sales of screw type chiller, ice storage tank, air
cooled chiller unit, air-conditioning box, computermatic packages, slim air conditioner,
fan coil unit, jet inducting system, air conditioning for transport
equipment, and kinds of axial fans for draught fans and windmill. |
|
Staff: |
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Listed at Stock Exchange: |
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History
|
Events |
|
|
1967 |
Begin to repair and maintenance of air conditioning machinery |
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Cooperated with Westinghouse produced Air Handling and Fan Coil which
export to America, Hong Kong and southeast Asian countries |
|
|
1981 |
The ice water host exports Thailand, Philippines, Indonesia and other
countries. |
|
1982 |
The ice water host, Fan Coil, Air Handling equipment export Hawaii,
Seattle, Los Angeles, etc |
|
1984 |
Developed and produced thin machine used by building and families |
|
1985 |
Finished developing nuclear auxiliary area air conditioning, as well as
built the first |
|
1986 |
Finished the development of stored ice systems and equipment that used
by Chengxin Building. |
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1989 |
Developed each type of axial flow fan |
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Developed the North
Korean Market with the goal of selling train-use air-conditioner and central
system air-conditioner. Developed
air-conditioner used for American military vehicles. |
|
|
2001 |
The
air-conditioner developed for American military vehicles has passed the testing
certification, and put into market based on the production volume. |
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2002 |
Successfully
developed the air-conditioner for MRT bus use. |
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2003 |
Entered the Dubai
market, and exported Fan Coil 22000 sets and 320 sets of Air Handing. |
|
2004 |
Win the order
from Bombardier for the automobile used air-conditioner. Win the
certification of ISO, ILAC and IAF. Finished the
developing of air-conditioner used for aeronautical fixing, which was sold to
Thailand, Chiang Kai Shek (CKS) International Airport and so on. Hitachi ordered
the air-conditioners for Swing Type- Taiwan Railway and bus use. |
|
2005 |
Taiwan Rolling
Stock Co., Ltd ordered air-conditioners for Train and bus use. Won the project
from Taipei Rapid Transit Corporation of replacing the old handling system
and auxiliary of air-conditioners at the Set 18 station of line Danshui. |
|
2006 |
It won the
contract of all air-conditioner system, equipment and monitoring system
supply at Jiaojiu Q Square invested by Rishengsheng Group , a traffic transiting
center combines the Taiwan Railway, High speed railway, long-distance bus,
MRT and MRT outside airport where the grand shopping mall, five-star hotel,
film art centre, high-grade residence, office building and food street are
located. |
Subject was incorporated on
Shareholders
|
Subscription Shares |
|
|
Hegui
Chen |
3,380,519 |
|
Zuodong Zhang |
|
|
365,162 |
|
|
Shuming
Liang |
26,361 |
|
Tianlin
Chen |
6,785,269 |
|
9,659,327 |
|
|
Guixiang
Wu |
69,550 |
|
Fangzhi
Wu |
40,469 |
Notes:
The information above is
that of subject’s major shareholders.
Subsidiaries & Branches
Branch
|
Name |
Kaohsiung Branch |
|
Address |
No. 467, Xiaogang Dist, Feiji Road,
Kaohsiung |
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Registration
Number: |
76380579
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|
Manager: |
Yongrong Zhong |
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Date of
Foundation: |
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Date of Last Annual Return: |
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Tel: |
+886-7-8011933 |
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Fax: |
+886-7-8016614 |
Personnel Information
Core Management
|
1 |
|
|
Name |
Hegui Chen |
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Position |
Board Chairman |
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2 |
|
|
Name |
Zuodong Zhang |
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Position |
Director |
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3 |
|
|
Name |
Shuming Liang |
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Position |
Director |
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4 |
|
|
Name |
Tianlin Chen |
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Position |
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5 |
|
|
Name |
Qiuman Chen |
|
Position |
Director |
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6 |
|
|
Name |
Guixiang Wu |
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Position |
Director |
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7 |
|
|
Name |
Fangzhi Wu |
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Position |
Auditor |
Personnel Structure
|
Total Employees |
About 200 Employees (Taiwan) |
Operation Information
Offices & Factories
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Headquarters
|
|
Address: |
20, Ting-Hu, 1st
Street, Kuei-Shan Hsiang, Tao-Yuan County Taiwan R.O.C., Tainan |
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Acreage:
|
34,000 Square Meters |
|
Plant area: |
20,000
Square Meters |
Production Information
l
Subject has
Management Department, Finance Department, Business Department, Service
Department, Marketing Department, Fan Department, Air
Conditioning Engineering Department, Electrical Engineering Department,
Engineering Design Department, Quality Security Department, Manufacturing
Department, R & D Center and Kaohsiung Branch that are responsible for
related business.
l
At
present, the production of all kinds of frozen air conditioning equipment has
been widely used in factories, hospitals, office buildings, airports, train,
bus, ships, senior residential and villas. In recent years, the business
extends to the environmental protection engineering and the precision
manufacturing of master in air-conditioning industry fields, etc.
l
Therefore,
our company is the manufactory that has obtained ISO-9001 authentication.
l
The
brand of products is “King”.
Purchase Information
l
The
registered activities of subject:
|
Details |
|
|
CB01071 |
Manufacturing of
freezing air conditioner equipment |
|
CB01990 |
Manufacturing of other
machine |
|
CD01990 |
Manufacturing of conveyance and its
accessories |
|
CQ01010 |
Manufacturing of mould |
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E501011 |
Water pipe pile outfit contractor |
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E599010 |
Piping engineering |
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E601010 |
Appliances bearing outfit industry |
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E601020 |
Electrical installation industry |
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E602011 |
Freezing Air conditioner engineering |
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F401010 |
International trade |
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IZ09010 |
Management system verification industry |
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J101050 |
Environmental testing services |
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IG03010 |
Energy technology services |
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CB01030 |
Pollution prevention equipment
manufacturing industry |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
The components and raw material for production are mostly
purchased from domestic markets.
l The subject is engaged in sales of screw type chiller, ice storage tank, air cooled chiller
unit, air-conditioning box, computermatic packages, slim air conditioner, fan
coil unit, jet inducting system, air conditioning for transport equipment, and
kinds of axial fans for draught fans and windmill.
l
The
subject sells products around the world.
Import and export right:
|
Import
right |
Yes |
|
Export
right |
Yes |
Settlements
Purchase
Domestic
Purchase (Taiwan and Mainland, China)
|
Payment
Terms |
Proportion |
|
|
Components
and raw material |
COD,
etc |
Foreign
Purchase
Subject seldom
purchases from foreign markets.
Sales
Domestic
Markets (Taiwan)
|
Sales
Terms |
Proportion |
|
|
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Screw
type chiller, ice storage tank, air cooled chiller unit, air-conditioning
box, computermatic packages, slim air conditioner, fan coil unit, jet inducting
system, air conditioning for transport equipment, and kinds of axial fans for
draught fans and windmill. |
CBD,
etc |
100% |
Financial Information
Subject has no
obligations to disclose its financial statements to the third party according to
the relevant policy in Taiwan and the only source from which we can obtain the
information is the subject itself.
Subject’s relevant
staff Ms. Yao declined to disclose its financials citing the grounds of
company’s confidentiality; from other source we can not obtain the relevant
information, either.
Bankers
|
Name |
Taiwan
Bank |
Public Record
Mortgage
No chattel mortgage
record of subject has been found within the recent 3 months.
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Interview Details
|
Name |
Ms. Yao |
|
Position |
Assistant |
|
Department |
Marketing Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
|
UK Pound |
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.