MIRA INFORM
REPORT
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Report Date : |
17.03.2011 |
IDENTIFICATION DETAILS
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Name : |
YU FONG TECHNOLOGIES CO LTD |
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Registered Office : |
3fl, |
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Country : |
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Date of Incorporation : |
18.07.1994 |
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Com. Reg. No.: |
84919551 |
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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 35,000 |
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Status : |
Small Company |
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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
YU
FONG TECHNOLOGIES CO LTD
3FL,
TEL: 886-4-24714508 FAX: 886-4-24735602
EXECUTIVE SUMMARY
INCORPORATION DATE : JULY 18, 1994
REGISTRATION NO. : 84919551
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE : MR. SHAO-YU SU (CHAIRMAN)
STAFF STRENGTH : 37
PAID-UP CAPITAL : NTD 20,000,000
BUSINESS LINE :
TRADER
TURNOVER :
NTD 577,901,800 (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 29.56048 = 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 : 毓豐興業有限公司
*CAPITAL (Currency: NTD - New
======================================
Authorized Capital : 20,000,000
Paid-up Capital : 20,000,000
*OFFICE & FACILITIES*
====================
Name : YU FONG TECHNOLOGIES CO LTD - NANTUN DIST,
Building Size : 268 Square meters
Type of Location : Commercial
Address : 3Fl,
Country :
Ownership of Property : Rented / Leased
Other Use : Warehouse
Status : Operational
*PREVIOUS CONTACT DETAILS*
============================
Company Address : 1Fl,
Company Address : 9Fl,
Company Address : 3Fl,
Phone Number : 886-4-23206717
Fax Number : 886-4-23200918
*REPUTATION*
=============
Reference checking for the purpose of establishing the YU FONG
TECHNOLOGIES CO LTD's reputation within the respective industry failed to
reveal any adverse information.
*RANKING*
==========
Type Coverage
Ranking Detail
Industry Ranking Global The leading firm within this
industry sector in 1997
www.yufong.com
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: service@yufong.com
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Shareholders Country
Mr. Shao-yu Su
Name Nationality
Job Description Dept. / Division
Mr. Anson Wen-chien Huang Taiwanese
Manager Sales
Mr. Shao-yu Su Taiwanese
Manager Administration
Mr. Debatosh Nag Indian
General Manager -
*Company Director*
===============
1
Name : Mr. Anson Wen-chien Huang
2
Name : Mr. Debatosh Nag
3
Name : Mr. Shao-yu Su
Country of Residence :
*CORE BUSINESS DESCRIPTION*
===========================
Core Business
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The primary business focus of YU FONG TECHNOLOGIES CO LTD is:
·General trading - Finished products
Supplementary Business
-------------------------------
In addition to the core business, YU FONG TECHNOLOGIES CO LTD also is
engaged in the following areas of business:
Exporting
·Exporting - Finished products
*Primary Products*
==============
Activity Products /
Materials / Services Description
Trading, Exporting Rubber
injection molding
Trading, Exporting Shoe
dies & moulds
Trading, Exporting Shoe
materials
Trading, Exporting Shoes
machines
*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
Documents against Payment (D/P)
Purchasing
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Type Terms
Local Cash on delivery
(COD)
Credit - Secured with Post-dated checks
30~90 days
*TRADE SHOWS*
==============
Exhibition Acronym
Country Participating Year
*COMPETITORS*
==============
The following is a representative list of local competitors:
FU CHUN SHIN MACHINERY MANUFACTURE CO LTD
FURNACE ENGINEERING & TRADING CO LTD
LIEN FA INJECTION MACHINERY CO LTD
MULTIPLAS ENGINERY CO LTD
SAINT DAWN CO LTD
*DOMESTIC SALES & PURCHASES*
=============================
Annual Sales Analysis Percentage
--------------------------- --------------
Domestic Sales 35%
International Sales (Export) 65%
Annual Purchases Analysis Percentage
--------------------------- --------------
Local Purchases 100%
Imports 0%
*Sales Channel Analysis*
===================
Sales Channel Sales
Channel Ownership Percentage
General trading Owned by Subject Business Entity
(SBE) n / a
Other Sales Channel n/a 100%
*LOCAL BRANCHES & MANAGEMENT*
==================================
Branch : YU FONG TECHNOLOGIES CO LTD - HSITUN DIST,
Branch Address : 4Fl,
Branch Tel : 886-4-24739648
*(Subsidiaries, Joint-ventures & Affiliates)
==============================
Business Entity Name : DYNA CREATIONS PVT LTD
Country :
Relationship : Subsidiary
Primary Business Activity : Trader
Industry : Machinery
Business Entity Name : YU FONG TECHNOLOGIES CO LTD
Country :
Relationship : Subsidiary
Primary Business Activity : Trader
Industry : Machinery
PAYMENT RATING : 3 OBTAINED SCORES : 60
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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*
===============
Bank Name : BANK OF OVERSEAS CHINESE
Branch : Chungcheng Dist,
Branch Address : CHUNGCHENG DIST,
SWIFT Code : OCCBTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address : MEGA INT'L COMMERCIAL BANK CO LTD - CHUNGCHENG DIST,
SWIFT Code : ICBCTWTP
*FINANCIAL STATEMENT – DETAILED*
=================================
Currency : NTD
Denomination : 1
Financial Year Ending : December
Financial Highlights As
of 2008 As of 2009
-------------------- --------------- ---------------
Current Assets(*) 11,700,000 11,700,000
Turnover(*) 896,400,000 577,901,800
Profit After Tax attributable to Shareholders(*) 53,784,000 39,000,000
*Financial Summary (Currency:
=============================
Year Sales Net Income
2006 $6,680,774 $208,585
2008 $27,838,509 $1,670,311
2009(*) $17,963,998 $1,212,310
Note: (*)
Financials listed are the most recent available for this company.
*Int´l Trade Activity (Currency:
=============================
Year Imports Exports Total
2002 $5,800.00 $8,768,634.67 $8,774,434.67
2003 $50,158.59 $6,000,023.07 $6,050,181.66
2004 $50,000.00 $8,002,406.02 $8,052,406.02
2005 $316,523.89 $7,349,106.00 $7,665,629.89
2006 $258,304.99 $5,219,715.99 $5,478,020.98
2007 $30,000 $7,200,000 $7,230,000
2008 $0 $25,776,398 $25,776,398
2009 $9,980,000 $19,000 $9,999,000
SC is considered small-sized in its line with a development history of
17 years. Taking into consideration of SC’s general performance, a credit line
up to USD 35,000 appears to be within SC’s capacities.
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Trading, Exporting 3569 General industrial machinery and equipment,
and parts,
Trading, Exporting 3500 Industrial Machinery & Equipment
Exporting 3549
Metalworking machinery
Trading, Exporting 3543 Molders' patterns for the manufacture of
castings
Trading, Exporting 3089 Plastics products,
Exporting 3559
Special industry machinery, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 7616995090
Articles of aluminum
Trading, Exporting 3926 Articles of plastics (inc
polymers & resins)
Trading 3901300000 Ethylene-vinyl acetate copolymers
Trading 8477200050 Extruders of a type used for processing
thermoplastics
Trading, Exporting 8480711000
Injection or compression type molds
for rubber or plastics, for shoe
machinery
Trading 8477103000 Injection-molding machines for
manufacturing shoes
Exporting 8461
Machine tools for shaping,
slotting, gear cut etc
Exporting 8453200000
Machinery for making or repairing
footwear
Exporting, Trading 8453800000
Machinery for making, or repairing
articles of hides, skins, or leather, other than sewing machines
Trading, Exporting 8453 Machinery for work leather etc
& footwear etc, parts
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Ranking Products / Materials / Services
Description
Exporting Secondary Air
blowing equipment
Trading, Exporting Secondary Air
blown dip moulds
Trading, Exporting Secondary
EVA injection moulds
Trading, Exporting Secondary Full
PVC moulds
Exporting Secondary Insole
molding machines
Exporting Secondary Machines,
automatic rolling
Trading, Exporting Secondary Moulds
Trading, Exporting Secondary Phylon
moulds
Trading, Exporting Secondary Plastic
blow moulds
Exporting Secondary Plastic
processing machinery
Trading, Exporting Secondary Sheet
moulds
Exporting Secondary Steel
sheets, insulated
Trading, Exporting Secondary Strap
moulds
Exporting Secondary UV
printing machineries
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region Estimated level of importance Trading Activity
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.18 |
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1 |
Rs.72.59 |
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Euro |
1 |
Rs.63.13 |
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.