IRA INFORM REPORT
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Report Date : |
17.06.2011 |
IDENTIFICATION DETAILS
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Name : |
FAIR OAKS PRECISION MACHINERY CO., LTD. |
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Registered Office : |
No.17, Alley 37, Lane 851, Chung Shan Rd., Shengang Dist., Taichung City 429 |
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Country : |
Taiwan |
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Date of Incorporation : |
30.11.1995 |
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Com. Reg. No.: |
89795452 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
Manufacturing and trading of machinery and components |
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 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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Taiwan |
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 |
Contact
Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
C/N-No. 16, Jenn Shin Road, Taya Hsiang
Taichung Hsien Taiwan |
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Telephone Number: |
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Fax Number: |
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E-mail: |
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Website: |
Notes:
The correct expression of the subject’s address is shown as above.
Credit
Summary
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Credit Rating: |
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Credit Opinion: |
Subject is long established and has stable
clients. In view of its scale of factories and good service consciousness,
appropriate credit amount should be recommended. |
Company
Identification Details
History
Subject was incorporated on
Shareholders
|
Name |
Number of Shares |
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Shu-Ru Chen |
10,775 |
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Song-Zhen Zhan |
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10,775 |
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Yu-Lin Tian |
10,775 |
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Yu-Zheng Huang |
10,775 |
Subsidiaries &
Branches
Branch Companies
1
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Address: |
No.17, Alley 37,
Lane 851, Chung Shan Rd., Shengang Dist., Taichung City 429, Taiwan (R.O.C.) |
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Description: |
This is the
address which orignally registered. According to the subject, this is a factory
of subject which now manufactures some large equipment. It has another
factory located at No.16, Jenn Shin
Road., Taya Dist., Taichung City, Taiwan. Both of the two factories in
Taiwan are operational. |
2
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Address: |
Ningbo, China |
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Description: |
The branch
factory in China mainland. This branch is reponsible for assembling and sales
to China mainland for reducing Custom duty and manufacturing cost. |
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Staff: |
About 200
Employees |
3
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Address: |
Guangdong, China |
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Description: |
1 Warehouse and
sales office. |
Personnel
Information
Core
Management
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1 |
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Name |
Shu-Ru Chen |
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Position |
Chairman of the
Board |
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2 |
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Name |
Song-Zhen Zhan |
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Position |
Director |
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3 |
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Name |
Yu-Lin Tian |
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Position |
Director |
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4 |
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Name |
Yu-Zheng Huang |
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Position |
Director |
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5 |
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Name |
Yong-Kun Guo |
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Position |
Supervisor |
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6 |
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Name |
Jhih-Long Fong |
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Position |
Sales Manager |
Personnel
Structure
Headquarter: Totally
about 30 Employees, including admistrative officers and workers in factory.
Operation
Information
Offices
& Factories
Headquarter located at the above address,
including administrative office, sales department and factory. Another factory
in Taiwan located in No.17, Alley 37, Lane 851, Chung Shan Rd., Shengang Dist.,
Taichung City as mentioned in branch part.
Production
Information
Subject is engaged
in manufacturing press machines, ranging from 30 tons to 360 tons.
Purchase
Information
l
The registered activities of subject:
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Business Code |
Details |
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Manufacturing and trading of machinery and
components. |
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Import & Export machinery and components |
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Distributing and biding under the delegation of
domestic & foreign manufacturers for machinery and components. |
Besides licensed business, all other business items those are not banned
or restricted.
l
The casting components and raw material for
production are purchased from Taiwan.
l
The upstream suppliers may
get raw materials from foreign countries.
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Subject is mainly engaged in manufacturing and
selling of press machines, ranging from 30 tons to 360 tons.
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Products are used for various industries especially
for motors.
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The subject has a proportion
of more than 80% for Taiwan and China mainland market.
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Besides, the subject exports products to India,
Italy, Turkey, Vietnam, Thailand and USA.
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Sales are 100% made directly by the subject.
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In China mainland market products are sent to
Ningbo factory for assembling and deliver to customers directly.
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Major clients in China mainland: Haier Motor,
Taiyo, Gree.
Major products
sold:
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High Speed Precision Press;
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High Speed Feeder;
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Double Head Uncoiler;
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Leveler “s” Loop Control;
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Stamping Die.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Settlements
Purchase
Domestic Purchase (Taiwan)
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Payment Terms |
Proportion |
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Casting components and raw materials |
Cash and Credit |
100% |
Sales
Domestic Markets (Taiwan and China mainland)
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Sales Terms |
Proportion |
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Equipments |
T/T |
100% |
Export
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Sales Terms |
Proportion |
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Equipments |
L/C at sight Bank Guarantee is unacceptable |
100% |
Notes: Subject’s settlement for export is generally in USD.
Financial
Information
During the interview, Mr. Jhih-Long Fong (Sales Manager) kindly provided
the following estimated financial figures of the subject:
Unit: NTD
|
Year |
2010 |
|
Sales |
300,000,000 |
|
Sales (USD) |
10,422,100 |
(As of 2011.6, 1
NTD=0.03474 USD)
Bankers
|
1 |
Mega International Commercial Bank |
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2 |
Chinatrust 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 |
Mr. Jhih-Long Fong |
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Position |
Sales Manager |
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Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.90 |
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UK Pound |
1 |
Rs.72.54 |
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Euro |
1 |
Rs.63.39 |
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 |
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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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.