MIRA INFORM
REPORT
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Report Date : |
13.01.2011 |
IDENTIFICATION DETAILS
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Name : |
SHE HONG INDUSTRIAL CO LTD |
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Registered Office : |
6 |
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Country : |
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Date of Incorporation : |
23.12.1970 |
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Com. Reg. No.: |
51321357 |
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Legal Form : |
Private Company
With Limited Liability |
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Line of Business : |
Exporting of Finished products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 600,000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
Company name & address
SHE HONG INDUSTRIAL CO LTD
6
TEL: 886-4-23592747 FAX:
886-4-23593674
EXECUTIVE SUMMARY
INCORPORATION DATE : DEC. 23, 1970
REGISTRATION NO. : 51321357
LEGAL FORM : PRIVATE COMPANY
WITH LIMITED LIABILITY
CHIEF EXECUTIVE : MR. STEVEN HSIN-HUA YEH
(GENERAL MANAGER)
STAFF STRENGTH : 266
CAPITAL : NTD
420,000,000.00
BUSINESS LINE : MANUFACTURER
TURNOVER : NTD
2,010,000,000 (AS OF DECEMBER 2009)
EQUITIES : N/A (AS OF
DECEMBER 2009)
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : TWD 30.10553 = 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 –
Name in Local Language : 協鴻工業股份有限公司
*OTHER
LICENSES*
=================
Issuing Authority :
Industrial Development Bureau - Ministry of Economic Affairs
License Name :
Factory I license
License Number :
99720656
Date of Issuance : 8
Apr, 2010
Issuing Authority :
Industrial Development Bureau - Ministry of Economic Affairs
License Name :
Factory II license
License Number :
9966916900
Date of Issuance : 9
Sep, 1985
*PREVIOUS CONTACT
DETAILS*
===========================
Fax Number:
886-4-23592837
Fax Number:
886-4-23581793
Fax Number:
886-4-23503443
*Capital Details*
=============
Currency NTD - New
Authorized /
Registered Capital 420,000,000.00
Authorized Capital -
History
Date Amount
------ ---------------
23 Dec, 1970 60,000,000.00
1990 80,000,000.00
2000 100,000,000.00
2005 150,000,000.00
2007 340,000,000.00
2010 420,000,000.00
*OFFICE &
FACILITIES*
====================
Name : SHE HONG
INDUSTRIAL CO LTD - HSITUN DIST,
Employees : 136
Address : 6
Country :
Status : Operational
*FACTORIES, SIZE,
& LOCATIONS *
===============================
Name: SHE HONG INDUSTRIAL
CO LTD - NANTUN DIST,
Address:
Building Size:
43,200 Square meters
Tel: [+886]
4-23501987
Type of Location:
Industrial Area
Country:
Ownership of Property:
Rented / Leased
Status: Operational
*RANKING*
==========
Type Coverage Ranking Detail
------ ------------ -------------------
Corporate Ranking Domestic Top 5,000 companies in
in 2006, 2007, 2008 and 2009
*REPUTATION*
=============
Reference checking
for the purpose of establishing the SHE HONG INDUSTRIAL CO LTD's reputation
within the respective industry failed to reveal any adverse information.
www.hartford.com.tw The design is
professional and the content is well organized. At present it is in both
Chinese and English versions.
E-mail: public@hartford.com.tw
For the past two years
there is no record of litigation.
*Major Shareholders*
================
Total number of
shareholders: 4
Total number of
shares: 332,779
Shareholders Country Number Amount
(NTD) %
Mr. Chien-chih Chen
Mr. Su Yu
Mr. Kuan-lin
Chen
Mr. Pin-wan
Chen
Name Nationality
Job Description Dept. / Division
Mr. Daniel Mao-sung
Lu Taiwanese Manager Int'l
Marketing
Ms. Ming-yu Tai Taiwanese Consultant Human Resources
Mr. Steven Hsin-hua
Yeh Taiwanese General Manager -
*COMPANY
DIRECTORS*
=====================
1
Name : Mr.
Chien-chih Chen
Nationality :
Taiwanese
2
Name : Mr. Daniel
Mao-sung Lu
Nationality :
Taiwanese
Email : daniel@hartford.com.tw
3
Name : Mr. Pin-wan
Chen
Nationality : Taiwanese
4
Name : Mr. Steven
Hsin-hua Yeh
Nationality :
Taiwanese
5
Name : Mr. Su Yu
Nationality :
Taiwanese
6
Name : Ms. Ming-yu
Tai
Nationality :
Taiwanese
*CORE BUSINESS
DESCRIPTION*
===========================
Supplementary
Business
------------------------------
In addition to the
core business, SHE HONG INDUSTRIAL CO LTD also is engaged in the following
areas of business:
Exporting
·Exporting - Finished products
*Primary Products*
==============
Activity Products / Materials / Services
Description
---------- ---------------------------------------------------
Manufacturing Attachments
Manufacturing Bandsaw machines
Manufacturing Center one vertical
machining
Manufacturing Horizontal bandsaw machines
Manufacturing Industrial machinery
*BRANDS &
TRADEMARKS*
========================
*TRADE SHOWS*
==============
Exhibition Acronym
Country Participating Year
TIMTOS -
Mactech exhibitoin
2010 n/a
Egypt 2010
Manufacturing
*QUALITY
ACCREDITATION*
=========================
INTERNATIONAL
STANDARDS ORGANIZATION (ISO) 9001
INTERNATIONAL
STANDARDS ORGANIZATION (ISO) 9002
*DOMESTIC SALES
& PURCHASES*
==============================
Annual Sales
Analysis Percentage
-------------------------- -------------
Domestic Sales 5%
International Sales
(Export) 95%
*DOMESTIC SUPPLIERS*
======================
KUDU METAL INDUSTRY
CO LTD
*OVERSEAS CUSTOMERS*
======================
BAVARIAN MOTOR WORKS
GENERAL ELECTRIC CO
IAI CORP
NOKIA CORP
PRATT & WHITINEY
CORP
SAMSUNG C&T CORP
TOYOTA MOTOR CORP
*Sales Channel
Analysis*
==================
Sales Channel Sales Channel
Ownership Percentage
----------------- ------------------------------- -------------
Direct end-user
/consumer Owned by Subject
Business Entity (SBE) 100%
customer sales - via
sales team
*LOCAL BRANCHES
& MANAGEMENT*
=================================
Branch : SHE HONG
INDUSTRIAL CO LTD - JENWU HSIANG,
Branch Address :
Branch Tel : 886-7-3756501
Branch Employees :
10
Branch : SHE HONG
INDUSTRIAL CO LTD - HSINFENG HSIANG, HSINCHU HSIEN
Branch Address :
Branch Tel :
886-3-5573782
Branch Employees :
10
*(Subsidiaries,
Joint-ventures & Affiliates)
===============================
Business Entity Name
: HARTFORD INDUSTRIAL CO LTD
Country :
Relationship :
Affiliate
Primary Business
Activity : Trader
Industry : Motor
Vehicles, Parts & Accessories
Business Entity Name
: KAO HONG INDUSTRIAL CO LTD
Country :
Relationship :
Subsidiary
Primary Business
Activity : Trader
Industry : Machinery
*OVERSEAS AGENTS AND
DISTRIBUTORS*
====================================
Agent : HERLESS
MACHINERY CORP
Country of Origin :
Product Description
: Industrial machinery
Brand :
Year : 2001
Agent : LOADPEARL
LTD
Country of Origin :
Product Description
: Milling machines
Brand :
Year : 2000
Agent : MULIA JAYA
MANDIRI PT
Country of Origin :
Product Description
: Machining centers
Brand :
Year : 2008
PAYMENT RATING : 3
OBTAINED SCORES : 72
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
|
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.
*BANK DETAILS*
===============
Bank Name : BANK OF
Branch : Chungcheng
Dist,
Branch Address :
Chungcheng Dist,
SWIFT Code :
BKTWTWTP
Bank Name : CHANG HWA
COMMERCIAL BANK LTD
Branch : Central
Dist,
Branch Address :
Central Dist,
SWIFT Code :
CCBCTWTP
Bank Name : MEGA
INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng
Dist,
Branch Address :
Chungcheng Dist,
SWIFT Code :
ICBCTWTP
Bank Name : TAIWAN
BUSINESS BANK
Branch : Tatung
Dist,
Branch Address :
Central Dist,
SWIFT Code :
MBBTTWTP
*FINANCIAL STATEMENT
– DETAILED*
=================================
Currency : NTD
Denomination : 1
Financial Year
Ending : December
Financial Highlights
As of 2007 As of 2008 As of 2009
------------------------- -------------------- ------------------ ------------
Total Assets (*) 1,829,000,000.00 2,731,000,000.00 2,755,000,000.00
Turnover (*) 4,039,000,000.00 3,844,000,000.00 2,010,000,000.00
Profit After Tax
attributable 100,360,000.00 81,000,000.00 23,400,000.00
to Shareholders(*)
*Financial Summary
(Currency:
==============================
Year Sales Assets
Net Income
1998 $49,407,407.41 $34,518,518.52 $1,740,740.74
2001 $32,762,623.33 $22,228,670.92 $290,191.53
2002 $37,539,522.85 $23,426,271.92 $546,133.95
2003 $42,128,027.68 $27,277,970.01 $40,369.09
2004 $79,969,924.81 $38,015,037.59 $992,481.20
2005 $100,379,146.92 $43,001,579.78 $1,358,609.79
2006 $103,597,339.78 $50,513,905.68 $1,527,206.77
2007 $121,876,885.94 $55,190,102.60 $3,028,364.51
2008 $119,378,881.99 $84,813,664.60 $2,515,527.95
2009 $62,480,571.96 $85,638,793.91 $727,385.76
*Int´l Trade
Activity (Currency:
===============================
Year Imports Exports
Total
2001 $29,244.28 $30,222,876.99
$30,252,121.27
2002 $357,268.99 $33,415,016.99
$33,772,285.98
2003 $194,367.99 $34,968,603.00
$35,162,970.99
2004 $430,822.98 $61,950,428.99
$62,381,251.97
2005 $350,000.00 $8,000,000.00
$8,350,000.00
2006 $677,172.01 $88,282,217.99
$88,959,390.00
2007 $301,811.01 $107,526,534.01
$107,828,345.02
2008 $2,000,000.00 $126,000,000.00 $128,000,000.00
2009 $435,571.99
$53,570,783.99 $54,006,355.98
SC is considered
medium-sized in its line with a development history of 41 years. Taking into
consideration of SC’s general performance, a credit line up to USD 600,000
appears to be within SC’s capacities.
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3562 Ball and roller bearings, and balls,
rollers and parts,
Exporting 3400 Fabricated Metal Products
Manufacturing 3569 General industrial machinery and equipment,
and parts,
Manufacturing,
Exporting 3500 Industrial Machinery & Equipment
Manufacturing,
Exporting 5084 Industrial Machinery/Equip
Manufacturing 3545 Machine tool accessories, and parts,
Manufacturing 3542 Machine tools metal-forming, and parts,
Manufacturing 3541 Machine tools, metal-cutting, and parts,
Exporting 3554 Paper industries machines and equipment,
and parts and attachments,
Manufacturing 3589 Service industry machines and equipment,
and parts,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 8431499020 Attachments for mounting on machinery of
heading 8426, 8429
or 8430
Importing 8482101000 Ball bearings with integral shafts
Importing 8482 Ball or roller bearings and
parts
Manufacturing 8465910068 Band saws, new, woodworking, valued over
$1,000 each
Importing 3926901000 Buckets & pails, of plastic
Exporting 8466931030 Cast-iron parts not advanced &
machined only for the removal of
fins, gates, etc, for metalworking machine tools for cut, grind or
finishing gears
Importing 8483901000 Chain sprockets and parts thereof
Exporting 8548900000 Electrical parts of machinery or
apparatus in chapter 85
Manufacturing 8207907570 Interchangeable tools for handtools or
for machine tools, and base metal parts thereof
Manufacturing,
Exporting 8459 Machine tools for drilling,
boring, milling etc
DETAILED PRODUCT CLASSIFICATION &
ACTIVITY
Activity Ranking
Products / Materials / Services
Description
Manufacturing Primary Machine
accessories
Manufacturing Primary Machine
tool parts
Manufacturing Primary Vertical
spindle
Importing Secondary Ball
bearings
Manufacturing,
Exporting Secondary CNC
double column machines
Manufacturing,
Exporting Secondary CNC
high-speed drilling m/c
Manufacturing,
Exporting Secondary Double-column
machining center
Manufacturing Secondary CNC
horizontal machines
Exporting Secondary Cast
iron parts
Exporting Secondary Electrical
machinery parts
Service Secondary Five
faces machining center
Service Secondary Horizontal
machining centers
Service Secondary CNC
5 axis machining center
Service Secondary CNC
machining centers
Service Secondary CNC
vertical machining centers
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region
Middle-East Exporting
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.16 |
|
|
1 |
Rs.70.64 |
|
Euro |
1 |
Rs.58.68 |
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 |
|
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 |
|
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 |
|
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 |
|
---- |
NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.