MIRA
INFORM REPORT
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Report Date : |
13th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
TWINHEAD
INTL CORP |
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Registered Office : |
10fl,
550 Rueiguang Rd Neihu Dist Taipei City 114, Taiwan |
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Country : |
Taiwan |
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Financials (as on) : |
2005 |
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Date of Incorporation : |
27.02.1984 |
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Com. Reg. No.: |
79883646 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Manufacturing, importing and exporting computer
parts & engaged in OEM (Original Equipment/Engineering Manufacturing)
activities. |
RATING & COMMENTS
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MIRAs 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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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company name & Address
TWINHEAD INT'L CORP
10FL, 550 RUEIGUANG RD NEIHU DIST TAIPEI CITY 114, TAIWAN
TEL:886-2-26278880 FAX:886-2-55550004
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 27, 1984
REGISTRATION NO. :
79883646
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR YU-JEN KAO (CHAIRMAN)
STAFF STRENGTH :
342
CAPITAL :
US$ 218,750,000
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 6,150,261,000 (AS OF DEC. 31, 2005)
EQUITIES :
NTD 2,224,038,000 (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP
TO USD 100,000 (PERIODICAL REVIEW)
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIR
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : NTD 32.7385 = US$1 AS OF 2006-11-13
*Company History*
===============
1987 - Established branch office in the US.
1989 - Established branch office in Europe
(Germany).
Suffered from supply problems as a result of the
September 1989 purchase of about USD1 million in parts from WANG COMPUTERS
which turned out to be unsuitable for their intended use. This purchase
reportedly resulted in a trade dispute between WANG & TWINHEAD as well as a
cash-flow problem for TWINHEAD.
1992 - Phased-out 386DX systems notebook PCs.
1993 - Offers a line of IBM compatibles called
Superset as well as add-on boards and other peripherals.
- Won largest market share in the Taiwan notebook
market.
- Established Beijing office.
June 1993 -
INTEL CORP and TWINHEAD were expected to reach an agreement regarding the
alleged breech of Intel patents.
July l993 - Commenced the production of 486DX
systems.
November l993 - Announced a 25%-price cut on its
products as part of the company's campaign to promote sales during Information
Month in December.
December l993 - FIRST INT'L COMPUTER, TWINHEAD
INT'L CORP and DATATECH ENTERPRISES, along with overseas companies such as IBM
and COMPAQ, planned to set up retail outlets at the newly constructed Chienkuo
Computer Market. Introduced a new line of low-priced green computers and at the
same time were slashing their prices on other products.
1997 - Became listed on the Taiwan Stock Exchange.
November 1998 - Received an order of 40,000
notebook PCs from MEDION, European-based hypermart suppliers.
July 2000 - TWINHEAD invested 9% in UNIWILL and
became a strategic partner of UNIWILL.
2002 - Begun operations in Kunshan China factory.
2003 - Moved to new headquarters facility in Neihu.
*Company Registration*
===================
License number
: 79883646
Date issued : 27 February,
1984
Issuing authority
: Ministry of Economic
Affairs (MOEA)
*Company Name*
==============
Incorporated as
: LONG FAIR ENTERPRISE CO LTD
Changed name to
: TWINHEAD INT'L CORP
Date of change
: N/A
*Capital Details*
=============
Paid up capital : NTD
2,773,037,120
Year Increase
----- -----------
1997 2,640,000,000
1998 3,635,000,000
1999 4,784,809,360
2000 5,284,506,420
2004 2,703,037,120
*Corporate & Organization Structure*
=============================
R & D Resources maintains 300 engineers. A
large-sized company mainly operated and managed by an experienced team of
professionals.
*Office & Facilities*
================
Size :
997 sq. meters
Location :
Taipei City
Type of building
:
Industrial
Property status
: Rented
Comments :
Served as office and warehouse.
Other Contact Details
-----------------------------
Tel no. :
2-29172675, 55899999
Previous fax no
: 2-29102973
*Factories, Size & Location*
=======================
Size
: 1,614,000 sq. feet
*Industry Ranking*
================
- Generally regarded as one of the Top 1000
Companies in manufacturing industry of Taiwan.
*Sales Ranking*
============
Details of rank are as follows:
Year
Rank
------
------
1996
57
1997
46
1998
63
*Reputation*
==========
Reference checking for the purpose of establishing
the firm's reputation within the respective industry failed to reveal any
negative information.
*Auditors*
=========
KPMG PEAT MARWICK LTD
Web site: www.twinhead.com.tw
The design is professional and the content is well organized. At
present it is both in Chinese and English version.
Email : vivian_wang@twinhead.hinet.net
For the
past two years there is no record of litigation.
*Major Shareholders*
==================
Shareholder's Name No of Shares
--------------------------- ------------------
Yu-jen Kao 8,984,398
Ming-luan Kao Chang 8,984,398
Chang-hsing Chu 8,984,398
Tao-huan Peng 4,182,660
Shih-min Ma 2,650,805
Mei-li Tsai 2,097,109
Hung-ta Hsu 1,665,530
Chia-ling Cheng 273,574
Name Nationality
Job Description
M/s. Chia-ling Chen Taiwanese
Director
M/s. Mei-li Tsai Taiwanese Director
Mr. Chang-hsing Chu Taiwanese Supervisor
Mr. Cheng-teh Wu Taiwanese
Vice General Manager Sales Dept.
Mr. Chih-hsien Yeh Taiwanese
Administration Director
Mr. Chih-hsing Lin Taiwanese
Finance Director
Mr. Ching-hsiung Liu Taiwanese R&D
Director
Mr. Chuang Chen Taiwanese
R&D Manager
Mr. Dao-heng Peng Taiwanese
Director
Mr. Fu-tsai Yang Taiwanese
Engineering Director
Mr. Hsin-yi Lo Taiwanese
R&D Director
Mr. Hung-ta Hsu Taiwanese
Supervisor
Mr. Mao-tsun Chen Taiwanese
Quality Control Manager
Mr. Meng-yang Lu Taiwanese
R&D Director
Mr. Shen-tai Wen Taiwanese
General Manager
Mr. Shih-min Ma Taiwanese
General Manager
Mr. Stanley Chiang Taiwanese
CEO
Mr. Su-fu Kao Taiwanese
Deputy General Manager
Mr. Tai-shen Chang Taiwanese
Vice Chairman
Mr. Tao-heng Peng Taiwanese
Vice President
Mr. Wen-ching Chen Taiwanese
Production Director
Mr. Yao-ming Kuo Taiwanese
Vice General Manager
Mr. Yi-min Sun Taiwanese Vice General Manager
Mr. Ying-chen Lee Taiwanese
General Manager
Mr. Yu-jen Kao Taiwanese President
Mrs. Ming-luan Kao Chang Taiwanese Director
Ms. Liang-ching Tsai Taiwanese Assist.
to President
Ms. Shu-ling Tseng Taiwanese
Assist. Manager
Ms. Vivian Wang Taiwanese
Assist. Manager
Ms. Wen-ying Chen Taiwanese
Marketing Director
*Key Personnel*
=============
(1)
Mr. Yu-jen Kao
Founder : Co -
founder
Work experience :
More than 15 years
Responsibilities
: Handles the daily
operation of the firm including all financials, sales and legal
matters
Resident status
: Taiwan
(2)
Stanley Ching-chih Chiang
Founder : Co -
founder
(3)
Vivian Wang
E-mail address
:
vivian_wang@twinhead.hinet.net
(4)
Cheng-te Wu
Responsibility
: Sales Department
(5)
Yao-ming Kuo
Responsibility
: Vice General Manager/
Public Relations Manager
Tel no :
2-55899999 (Direct Line)
Email address
: romy_kuo@twinhead.com.tw
(6)
Shu-ling Tseng
Responsibility
:Vice Manager/ Deputy
Public Relations Manager
Email address
:
joy_tseng@twinhead.com.tw
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Manufacturing, importing and exporting computer
parts.
2. Engaged
in OEM (Original Equipment/Engineering Manufacturing) activities.
Products also include :
- RISC stations
Products :
Computer parts
Digital adp machines
Modem
Motherboards
Notebook computers
Brand Slimnote
Brand Superlap
Brand TWINHEAD
*Payment Terms*
=============
Sales
------
Local : Cash
30 - 90 days credit
Export :
Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
---------------
Local : Cash
30 - 90 days credit
Import :
Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
============
The following locally based firms supply similar
range of products/services :
- ACER COMPUTER INC
- HIGH TECH COMPUTER CORP
- PALMAX TECHNOLOGY CO LTD
- MITAC INT'L CORP
- MICROSTAR COMPUTER CORP
*Production Capacity*
==================
(1)
Year :
1998
Minimum capacity :
15,000/month
Maximum capacity :
100,000 to 120,000/month
Items :
Notebook PCs
(2)
Year :
2004
Current capacity : 340,987 (NTD
1,000/PC)
Maximum capacity :
700,000 (NTD 1,000/PC)
Items :
Notebook PCs
(3)
Year :
2005
Current capacity
: 279,124 (NTD 1,000/PC)
Maximum capacity :
588,100 (NTD 1,000/PC)
Items :
Notebook PCs
*Detailed Product Specification*
==========================
The company produces OEM pc notebooks for SHARP,
WINBOOK & HP.
Year :
1998
Type of Products :
Personal Computer
Brands :
NCR
Company : NCR
CORP
*Quality Certification*
==================
Obtained the following certifications :
(1)
Type of certification : ISO-9001
Year of certification : 1994
(2)
Type of certification : GD-Mark (Good Design Product)
Date of certification : November 2005
Details :
For the product Twinhead 12D
(3)
Type of certification : GD-Mark (Good Design Product)
Date of certification : November 2005
Details :
For the product Twinhead 10D
*Associations*
============
Member of the following associations :
- Taipei Computer Association
- Taiwan Electrical & Electronic Manufacturers'
Association (TEEMA)
*Awards*
========
Received the following awards :
(1)
Award :
Symbol of Excellence
(2)
Award
: Best Buy
Awarded by : Laptop Magazine
Date
: November 2001
Details
: For the product N2300.
(3)
Award
: Silver Award
Awarded by : HWM Malaysia
Date
: November 2003
Details
: For the product efio! 141i.
(4)
Award
: Value Buy Award
Awarded by : Computer Shopper Malaysia
Date
: December 2003
Details
: For the product efio! 121A.
(5)
Award
: Chip Magazine Malaysia
Editor's Choice
Awarded by : Chip Magazine Malaysia
Date
: December 2005
Details
: For the product Twinhead 10D.
(6)
Award
: Best-value Notebook of the
Year
Awarded by : PC User Magazine
Date
: January 2006
Details
: For the product Twinhead 12K.
*Exhibition Participation*
===================
Participated in the following local exhibitions:
(1)
Exhibition fair : Computex Taipei '98
Date attended
: 2-6 June, 1998
Location : Taipei World Trade Center - Exhibition Hall
Taipei Int'l Convention Center
(2)
Exhibition fair
: Computex Taipei ' 99
Date attended
: 1 - 5 June, 1999
Location
: Taipei World Trade Center - Exhibition Hall
(3)
Exhibition fair
: Taipei Int'l Computer Show
Date attended : 5-9 June, 2000
Location
: Taipei World Trade Center - Exhibition Hall
(4)
Exhibition fair
: Taipei Int'l Computer Show 2001
Date attended
: 4-8 June, 2001
Location
: Taipei World Trade Center - Exhibition Hall
*Local Distribution Network*
========================
3.8% annual turnover is attributed to local sales
through 50 to 60 authorized sales agents.
*Domestic Raw Materials Suppliers*
============================
Major local raw materials suppliers include:
(1)
Supplier's name : INTERNATIONAL
MAGNESIUM TECHNOLOGY CO LTD
Material/components : Notebook computers magnesium case
(2)
Other local raw materials suppliers include:
- CHAUN CHOUNG TECHNOLOGY CORP
- CHILISIN ELECTRONICS CORP
- CHIA SENG INDUSTRIAL CORP
- MERIDA INDUSTRY CO LTD
- JYR DAR STEEL MOLD CO
*Domestic Suppliers*
=================
Major local suppliers include :
(1)
Supplier's name : SINOSTAR
TECHNOLOGIES INC
Material/components : Computer products
(2)
SHENG YU TECHNOLOGY CO LTD
*Domestic Agents & Distributors*
===========================
- NODE TECH CO LTD
*Export Markets*
===============
96.2% annual turnover is attributed to export
Breakdown of Exports :
Country % of Export
-------------- ------------------
Europe 30.00
USA 30.00
Asia 30.00
Others 10.00
*Overseas Customers*
==================
Company name : NCR
Country : Germany
*International Trade Ranking*
=======================
The firm has been ranked among Taiwan's Top
Importers/Exporters based on the standard measured by the
Board of Foreign Trade (BOFT)
Details of rank are as follows :
Year
Rank
-----
----------
1997 025
*(Subsidiaries, Joint-ventures & Affiliates)
================================
Company Name :
ASIA PACIFIC BROADBAND TELECOMMUNICATION CO LTD
Address :
16Fl, 277 Sung Jen Rd Hsin-i Dist Taipei City 110 Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Service
Industry :
Telecommunications
Company Name :
PRINTEC INT'L CORP
Address :
3Fl, 2, Lane 235, Pao Chiao Rd Hsintien City 231 Taipei Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Trader
Industry :
Computer & Information Products
Company Name :
TWINHEAD (BVI) LTD
Address :
Drake Chambers Road Town Tortola Virgin Islands (British)
Country :
Virgin Islands (British)
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Trader
Industry :
Computer & Information Products
Company Name :
TWINHEAD CORP
Address :
48303 Fremont Blvd Fremont 94538 California USA
Country :
USA
Relationship :
Subsidiary
Legal Form :
Private Limited Company
Company Type :
Trader
Industry :
Computer & Information Products
Company Name :
TWINHEAD GMBH
Address :
Nikolaus-Otto-Strasse 4 Meerbusch 40670 Germany
Country :
Germany
Relationship :
Subsidiary
Legal Form :
Private Limited Company
Company Type :
Trader
Industry :
Computer & Information Products
Company Name :
TWINHEAD INT'L (ASIA) PTE LTD
Address :
Anson Centre 51 Anson Rd #02-61 079904 Singapore
Country :
Singapore
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type :
Trader
Industry :
Computer & Information Products
Company Name :
TWINHEAD INT'L (KUNSHAN) CO LTD
Country :
China
Relationship :
Subsidiary
Legal Form :
Private Limited Company
Company Type :
Manufacturer
Industry :
Computer & Information Products
Company Name :
TWINHEAD INT'L CORP - BEIJING OFFICE
Address :
4Fl Catic Plaza 18 Beichen Dong Lu Asian Games Village Beijing 100101 China
Country :
China
Relationship :
Subsidiary
Legal Form :
Private Limited Company
Company Type :
Trader
Industry :
Computer & Information Products
*Subsidiaries, Joint-ventures & Affiliates*
==============================
Maintains a manufacturing facility in Shanghai,
China with 2 production lines for about 45,000 notebook computers per month.
*Strategic Partners & Alliances*
=========================
Strategic Partner : UNIWILL COMPUTER CORP
PAYMENT RATING :3 OBTAINED SCORES :
71
|
Implication |
Implications |
|
|
1 |
Scores
85100 |
Excellent |
|
2 |
Scores
75 84 |
Above
Average |
|
3 |
Scores
50 74 |
Average |
|
4 |
Scores
35 49 |
Fair |
|
5 |
Scores
15 34 |
Below
Average |
|
6 |
Scores
01 14 |
Poor |
|
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 : LAND BANK OF TAIWAN
Account :
061101001074
Branch : Hsin Tien
BALANCE SHEET
Currency
: NTD
Denomination : in thousands
2000 2001
2002 2003 2004 2005
-------------
------------ ------------ ------------ ------------ ------------
Current Assets 4,748,549 2,810,488 3,603,416
3,188,220 2,887,023 2,240,351
Funds &
long-term
investments 1,378,328 1,351,848
883,900 640,620 658,700
628,981
Property
2,319,474 2,558,981 1,574,229 1,260,223
1,158,018 439,043
Other Assets
373,891 219,164
1,190,947 1,596,623 1,563,462 621,125
Total Assets
8,820,242 6,940,481 7,252,492 6,685,686
6,267,203 3,929,500
Current Liabilities
(Before) 2,493,653 1,272,693 2,022,071
2,430,265 2,356,866 1,557,295
Long-term
Liabilities
1,545,048 1,773,131 1,958,969 1,289,710
1,117,241 -
Other
Liabilities 21,026 480 264,513
98,280 171,469 148,167
Total Liabilities
(Before) 4,059,727 3,046,304 4,245,553
3,818,225 3,645,576 1,705,462
Common stock 5,284,509 5,284,509 5,284,509
5,560,892 2,773,037 2,773,037
Capital
Reserve
1,414,250 1,414,329 1,415,798 1,976,170
1,501,573 1,281,598
Retained Earnings
(Before) (1,374,206) (2,259,735) (2,881,229)
(3,254,243) (219,975) (422,159)
Total Shareholder's
Equity (Before) 4,760,515 3,894,177
3,006,939 2,867,431 2,621,627 2,224,038
INCOME
STATEMENT
Currency : NTD
Denomination
: in thousands
2000 2001 2002 2003
2004 2005
-------------
------------ ------------ ------------ ------------
------------
Operating
revenue
8,392,915 4,433,378 5,213,685 5,862,166
8,569,951 6,150,261
Gross Profit
126,467 (5,910) 183,652 306,562
444,187 281,933
Operating (loss)
income (707,371) (659,295) (432,383)
(215,722) (86,021) (273,348)
Interest
income
- 32,588 15,115 22,666
8,725 6,573
Interest expense - 130,330 161,990 127,253
63,718 56,814
Non-operating
income 82,382 112,671 86,766
266,137 100,728 90,371
Non-operating
expense 631,407 338,564 310,604
423,331 234,659 190,467
Net Income (Before
Tax) 1,462,126) (935,188) (656,221)
(372,916) (219,952) (375,368)
Net Income (After
Tax) (1,374,183) (885,529) (621,494)
(373,014) (219,975) (422,159)
Earnings (losses)
per share (4.18) (3.44) (2.56) (1.61)
(0.89) (1.70)
*Financial Ratios*
==============
2000 2001 2002 2003
2004 2005
------ ------ ------ ------- ------- ------
Ratio of
liabilities to Assets %
46.03 43.89 58.54
57.11 58.17 43.40
Ratio of long-term
capital to fixed Assets % 271.85 221.47 315.45
329.87 322.87 506.56
Current ratio
% 190.43 220.83 158.04
131.19 122.49 143.86
Quick ratio %
127.19 144.58 111.72 82.33
85.56 108.73
Interest
coverage
97.26 (4.54) (2.93) (1.93) (2.45)
(5.61)
Turnover of
receivable (times)
3.68 2.54 3.96 4.78
7.20 5.59
Average collection
period of receivable 99 144.00 92.00
76.00 51.00 65.00
Turnover of
inventories (times) 3.63 2.83 3.80 5.45
7.98 8.49
Average days of
sales
101 129.00 96.00 67.00 46.00
43.00
Turnover of fixed
assets (times) 3.62 1.73 3.31 4.14
7.09 7.70
Turnover of total
assets (times) 0.95 0.64 0.72
0.88 1.37 1.57
Return on total
assets %
(12.86) (10.00) (7.05) (8.30) (2.66) (7.44)
Return on
shareholder's Equity %
(24.75) (20.46) (18.01)
(26.02) (8.02) (17.42)
Operating
Income
(13.39) (12.48) (8.18) (3.88) 3.10) (9.86)
Net Income before
tax (27.67) (17.70)
(12.42) (6.71) (7.93) (13.54)
Profit margin
%
(16.38) (19.98) (11.93) (6.36) (2.57) (6.86)
Retroactive
94.18 (3.44) (2.56) (1.61) (0.89)
(1.70)
Cash flows ratio
% 75.09 10.62
Cash flows adequacy
% 6.76 20.14 18.69
Cash reinvestment
ratio % 15.22 5.44
Degree of operating
leverage 90.24 0.25
(0.02) 1.05 1.00 0.99
Degree of financial
leverage 0.81 0.83 0.73
0.63 0.57 0.83
*FINANCIALS
SUMMARY (Currency: U.S. $'s)
====================================
Year Sales Assets
Net Income
2000 $261,054,898.91 $274,346,562.99 -$42,740,279.94
2001 $128,652,872.90 $201,406,877.54 -$25,697,301.22
2002 $149,861,598.16 $208,464,846.22 -$17,864,156.37
2003 $169,035,928.49 $192,782,179.93 -$10,755,882.35
2004 $257,742,887.22 $188,487,308.27 -$6,615,789.47
2005 $194,321,042.65 $124,154,818.33 -$13,338,357.03
*Intīl Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2002 $66,517,221.99 $136,051,314.00 $202,568,535.99
2003 $35,261,612.00 $51,742,067.99 $87,003,679.99
2004 $41,893,160.99 $50,490,227.01 $92,383,388.00
2005 $45,000,000.00 $55,000,000.00 $100,000,000.00
*FINANCIALS SUMMARY (Currency: U.S. $'s)
====================================
Year Sales
Assets Net Income
2000 $261,054,898.91 $274,346,562.99 -$42,740,279.94
2001 $128,652,872.90 $201,406,877.54 -$25,697,301.22
2002 $149,861,598.16 $208,464,846.22 -$17,864,156.37
2003 $169,035,928.49 $192,782,179.93 -$10,755,882.35
2004 $257,742,887.22 $188,487,308.27 -$6,615,789.47
2005 $194,321,042.65 $124,154,818.33 -$13,338,357.03
*Intīl Trade Activity (Currency: U.S. $'s)
===============================
Year Imports
Exports Total
2002 $66,517,221.99
$136,051,314.00 $202,568,535.99
2003 $35,261,612.00
$51,742,067.99 $87,003,679.99
2004 $41,893,160.99
$50,490,227.01 $92,383,388.00
2005 $45,000,000.00
$55,000,000.00 $100,000,000.00
SC is
considered medium-sized in its line with fair financial conditions. It is
considered a credit line up to USD100,000 appears to be within SCs capacities
upon a periodical review basis.
Attached: trade reerences
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service
Description
Exporting 3577 Computer
peripheral equipment, and parts
Importing 3577 Computer
peripheral equipment, and parts
Importing 3678 Connectors,
for electronic applications
Manufacturing
3571 Electronic computers
Manufacturing
3575 Computer terminals
Manufacturing
3577 Computer peripheral equipment, and parts
Manufacturing
5045 Computers Equip/Software
Trading 3827 Optical instruments, and parts,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service
Description
Exporting 8471 Automatic
data process machines; magn reader, etc. computer hardware
Exporting 8471300000
Portable digital adp machine,
weighing not more than 10 kg, consisting
of
at least a cpu, a keyboard, and a display unit
Exporting 8473500000 Parts and accessories equally suitable for use with machines of
two or
more
of the headings 8469 to 8472
Exporting 8506800000 Primary batteries
Exporting 8517501000 Modems (modulator-demodulator apparatus) of a kind used with
data
processing
machines of heading 8471
Importing 8504400004 Power supplies (rectifier type) of a rated power output not
exceeding 50
w
Importing 8524310000 Discs for laser reading systems, for reproducing phenomena
other than
sound
or image
Importing 8536690040 Electrical connectors, printed circuit type
Importing 8544190000 Insulated winding wire
Manufacturing
8471100000 Analog or hybrid automatic data processing
machines
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Product/Service Description
Exporting Optical devices
Exporting Storage batteries
Exporting Primary batteries
Importing CD ROM
Importing Connectors
Importing Power supplies
Importing Insulated winding wire
Manufacturing
Desktop PC's
Manufacturing
Systems
Manufacturing
Portable systems
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Australia
Exporting to Austria
Exporting to Canada
Exporting to China
Exporting to Czech Republic
Exporting to Estonia
Exporting to Europe
Exporting to Finland
Exporting to France
Exporting to Germany
Exporting to Hong Kong
Exporting to India
Exporting to Japan
Exporting to Malaysia
Exporting to Netherlands
Exporting to North America
Exporting to Oceania
Exporting to Philippines
Exporting to Singapore
Exporting to South America
Exporting to South Korea
Exporting to Spain
Exporting to Sweden
Exporting to Switzerland
Exporting to Thailand
Exporting to USA
Exporting to United Kingdom
Importing from Asia
Importing from Austria
Importing from Canada
Importing from China
Importing from Costa Rica
Importing from Czech Republic
Importing from Europe
Importing from Germany
Importing from Hong Kong
Importing from Hungary
Importing from Indonesia
Importing from Ireland
Importing from Italy
Importing from Japan
Importing from Malaysia
Importing from Netherlands
Importing from North America
Importing from Oceania
Importing from Philippines
Importing from Singapore
Importing from South America
Importing from South Korea
Importing from Spain
Importing from Switzerland
Importing from Thailand
Importing from USA
Importing from United Kingdom
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|