MIRA INFORM REPORT
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Report Date : |
17.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
FUNG CHANG INDUSTRIAL CO., LTD. |
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Registered Office : |
9, Shih Chi Tau, Kaoping Village Lungtan Hsiang, Taoyuan Hsien |
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Country : |
Taiwan |
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Date of Incorporation : |
22.09.1966 |
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Com. Reg. No.: |
33406109 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of raschel knitting machines and the
related products |
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No. of Employees
: |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 50,000 |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
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: |
9, Shih Chi Tau, Kaoping Village Lungtan
Hsiang, Taoyuan Hsien, Taiwan, R.O. C |
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Supplied Address: |
9, Shih Chi Tzu, Kaoping Village, Lungtan
Hsiang, Taoyuan Hsien Taiwan |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Notes:
The exact address is as above.
Credit
Summary
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Credit Rating: |
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|
Credit Opinion: |
Company
Identification Details
History
Subject was incorporated on
Shareholders
|
Subscription
Shares |
|
|
Tianjia Yu |
4,000 |
|
Shengtian Yu |
|
|
1,500 |
|
|
Xiuli Chang |
500 |
|
Ruibang Dai |
500 |
|
Shuqin Yu |
500 |
|
Linmei Yuanyu |
2,000 |
|
Shengrui Yu |
1,000 |
The information above is that of subject’s major shareholders.
Subsidiaries &
Branches
Personnel Information
Core
Management
|
1 |
|
|
Name |
Tianjia Yu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Shengtian Yu |
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Position |
Director |
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3 |
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Name |
Xiuli Chang |
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Position |
Director |
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4 |
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Name |
Ruibang Dai |
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Position |
Director |
|
5 |
|
|
Name |
Shuqin Yu |
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Position |
Director |
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6 |
|
|
Name |
Linmei Yuanyu |
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Position |
Supervisor |
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7 |
|
|
Name |
Shengrui Yu |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 25 Employees |
Operation Information
Offices
& Factories
|
|
Headquarters |
|
Add |
9, Shih Chi Tau, Kaoping Village Lungtan Hsiang, Taoyuan Hsien, Taiwan,
R.O. C |
Production
Information
l
Subject is a manufacturer of raschel knitting machines and the related
products with the production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacture, process and trade of machinery and
components |
|
2 |
Process and trade of cotton, nylon, rayon and so
on. |
|
3 |
General export trading (Besides licensed
business) |
l
The subject is mainly engaged in manufacturing and
trading of raschel knitting machines
and the related products.
l
Major products sold as following:
|
Product |
Sales Region |
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1 |
Raschel knitting machine |
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2 |
Single Bed Raschel Knitting Machine |
|
3 |
Yarn Feeding Equipment |
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4 |
Double Bed Raschel Knitting Machine |
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5 |
Extruder |
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6 |
Sun-Shade net machine |
|
7 |
Safety net machine |
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8 |
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|
9 |
Onion bag machine |
|
10 |
Fish net machine |
|
11 |
Others |
l
Subject’s selling territory mainly covers South America,
Caribbean East Europe, Russia Southeast Asia Mid-East, and Africa.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Settlements
Subject declined the
settlements information, and from other sources, we couldn’t obtain the
information, either.
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 Mr. Yu 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
Cooperative Bank |
Note:
Subject confirmed the banker name, but declined to disclose more`
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. Yu |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.65 |
|
UK Pound |
1 |
Rs.79.09 |
|
Euro |
1 |
Rs.65.32 |
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 |
|
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 |
|
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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.