MIRA INFORM REPORT
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Report Date : |
09.03.2011 |
IDENTIFICATION DETAILS
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Name : |
PRO RICHYOUNG INDUSTRIAL CO LTD |
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Formerly Known As : |
PRO RICHYOUNG INTERNATIONAL CO., LTD. |
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Registered Office : |
6Fl-2, 417, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
11.01.2001 |
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Com. Reg. No.: |
12735409 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
General Trading |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 65,000 |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
PRO
RICHYOUNG INDUSTRIAL CO LTD
11FL-1,
TEL: 886-4-22293260 FAX: 886-4-22293257
EXECUTIVE SUMMARY
INCORPORATION DATE : JANUARY 11, 2001
REGISTRATION NO. : 12735409
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MS. TSAI-HSUAN WU (CHAIRMAN)
STAFF STRENGTH :
5
AUTHORIZED CAPITAL : NTD 6,000,000
BUSINESS LINE :
TRADER
TURNOVER :
NTD 65,000,000 (AS OF DECEMBER, 2009)
EQUITIES :
N/A (AS OF DECEMBER, 2009)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 29.34125 = 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 –
Registered Legal Address: 6Fl-2, 417,
Name in Local Language : 晨冠陽企業有限公司
*Company Name*
=============
Incorporated as : PRO
RICHYOUNG INTERNATIONAL CO., LTD.
Incorporation date : 11 January, 2001
Changed name to : PRO RICHYOUNG
INDUSTRIAL CO., LTD.
Date of change : 2 December,
2002
*CAPITAL (Currency: NTD - New
======================================
Authorized Capital: 6,000,000
*OFFICE & FACILITIES*
====================
Name : PRO RICHYOUNG INDUSTRIAL CO LTD - SOUTH DIST,
Building Size : 115 Square meters
Type of Location : Residential
Address : 11Fl-1,
Country :
Ownership of Property : Rented / Leased
Status : Operational
*PREVIOUS CONTACT DETAILS*
===========================
Company Address : 5Fl-1,
Phone Number : 886-4-22553316
Fax Number : 886-4-22556986
Company Address : 6Fl-2,
Phone Number : 886-4-22634787
Fax Number : 886-4-22556986
Company Address :
Phone Number : 886-4-23227154
Fax Number : 886-4-23227924
*REPUTATION*
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Reference checking for the purpose of establishing the PRO RICHYOUNG
INDUSTRIAL CO LTD's reputation within the respective industry failed to reveal
any adverse information.
www.richyoung.com.tw The design is professional
and the content is well organized. At present it is in English version.
E-mail: richyoun@ms15.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Shareholders Country %
Ms. Tsai-hsuan Wu
Name Nationality
Job Description Dept. / Division
Mr. James Wu Taiwanese
Manager Sales
Ms. Tsai-hsuan Wu Taiwanese Managing Director -
*COMPANY DIRECTORS*
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1
Name : Mr. James Wu
2
Name : Ms. Tsai-hsuan Wu
Country of Residence :
*CORE BUSINESS DESCRIPTION*
===========================
Core Business
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The primary business focus of PRO RICHYOUNG INDUSTRIAL CO LTD is:
·General trading - Finished products
Supplementary Business
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In addition to the core business, PRO RICHYOUNG INDUSTRIAL CO LTD also
is engaged in the following areas of business:
Exporting
·Exporting - Finished products
*Primary Products*
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Activity Products / Materials /
Services Description
Trading CNC plus teach-in
lathes
Trading High speed precision
lathes
Trading Industrial machinery
Trading Machining centers
Trading Metalworking
machinery
*PAYMENT TERMS*
=================
Selling
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Type Terms
Local Cash on delivery
(COD)
Credit - Secured with Post-dated checks
30~90 days
Export Letter of Credit
(At-sight)
Telegraphic Transfer (T/T) - Received at
time of transaction
Purchasing
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Type Terms
Local Cash on delivery
(COD)
Credit - Secured with Post-dated checks
30~90 days
*BRANDS & TRADEMARKS*
========================
RichYoung
*TRADE SHOWS*
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Exhibition Acronym
Country Participating Year
TIMTOS -
TIMTOS -
*COMPETITORS*
==============
The following is a representative list of local competitors:
ADAMSON INDUSTRIES CORP
ALEX-TECH MACHINERY INDUSTRIAL CO LTD
CHIAH CHYUN MACHINERY CO LTD
CYCLEMATIC MACHINERY CO LTD
IRON FLOWER MACHINERY INC
*DOMESTIC SALES & PURCHASES*
==============================
Annual Sales Analysis Percentage
--------------------------- --------------
Domestic Sales 20%
International Sales (Export) 80%
Annual Purchases Analysis Percentage
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Local Purchases 100%
Imports 0%
*(Subsidiaries, Joint-ventures & Affiliates)
==============================
Business Entity Name : BENIGN ENTERPRISE CO LTD
Country :
Relationship: Affiliate
Primary Business Activity: Manufacturer
Industry : Machinery
Business Entity Name: RICHYOUNG MACHINE TOOL CO LTD
Country :
Relationship : Affiliate
Primary Business Activity : Trader
Industry : Machinery
PAYMENT RATING : 3 OBTAINED SCORES : 57
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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.
*BANK DETAILS*
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Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
*FINANCIAL STATEMENT – DETAILED*
=================================
Currency : NTD
Denomination : 1
Financial Year Ending : December
Financial Highlights As
of 2008 As of 2009
------------------------ ------------- --------------
Total Assets(*) 7,500,000 6,500,000
Turnover(*) 163,000,000 65,000,000
Profit After Tax attributable to Shareholders(*) 8,420,000 3,250,000
*Financial Ratio*
============
Financial Highlights As
of 2008 As of 2009
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Growth %
Year-on-Year Growth -
(60.12)
Profitability
Profit Margin (%) 5.17 5.00
Return on Assets (%) 112.27 50.00
Asset Management
Total Assets Turnover (Times) 21.73 10.00
*Financial Summary (Currency:
==============================
Year Sales Assets Net Income
2008 $5,062,112 $232,919
$261,491
2009(*) $2,020,516 $202,052
$101,026
Note: (*)
Financials listed are the most recent available for this company.
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2006 $8,000.00 $1,886,000.00 $1,894,000.00
2007 $13,000 $2,955,000 $2,968,000
2008 $32,000 $4,560,000 $4,592,000
2009 n/a $1,800,000 $1,800,000
SC is considered small-sized in its line with a development history of
10 years. Taking into consideration of SC’s general performance, a credit line
up to USD 65,000 appears to be within SC’s capacities.
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3569 General industrial machinery and equipment,
and parts,
Trading 5072 Hardware
Trading 3429 Hardware,
Trading 5023 Home furnishings
Trading 2392 House furnishings,
Trading 3500 Industrial Machinery & Equipment
Trading 5084 Industrial Machinery/Equip
Trading 3545 Machine tool accessories, and parts,
Trading 3542 Machine tools metal-forming, and parts,
Trading 3541 Machine tools, metal-cutting, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 8460190005 Flat surface grinding machines, metal removing, accuracy of at
least 0.01 mm,
except numerically
controlled, used or rebuilt
Trading 8467111040 Grinders, polishers and sanders, suitable
for metal working, rotary type (inc
combined
rotary-percussion) pneumatic tools for working in the hand
Trading 8302 Hardware, fixtures, castors etc
& parts, base metal
Trading 7615 Household art etc, pot scour
etc, san ware, aluminum
Trading 8458 Lathes for removing metal
Trading 8462998020 Machine tools (inc presses) working by
forming metal, valued under $3,025, new
Trading 8459 Machine tools for drilling,
boring, milling etc
Trading 8463 Machine tools for working metal
Trading 8437800000 Machinery used in the milling industry or
for the working of cereals or dried
leguminous
vegetables, other than farm type machinery
Trading 8479 Machines etc having individual
functions, parts
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Ranking Products / Materials / Services Description
Trading Primary Milling
machines
Trading Primary Precision
lathe
Trading Primary Teach-in
lathes
Trading Primary Turret
milling machine
Trading Secondary Hardware
Trading Secondary Heavy
duty precision lathes
Trading Secondary High
precision surface grinder
Trading Secondary House
ware
Trading Secondary Machine
tools
Trading Secondary Precision
lathes with inverter
Trading Secondary Precision
surface grinder
Trading Secondary Turret
Trading Secondary Twin
spindle CNC lathes
Trading Secondary Twin
turret CNC lathes
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Estimated level of importance Trading Activity
Middle-East High Exporting
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.03 |
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1 |
Rs.72.98 |
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Euro |
1 |
Rs.62.94 |
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 |
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.