MIRA
INFORM REPORT
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Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
CORUM INC |
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Registered Office : |
6FL-1, 360 Rueiguang Rd Neihu Dist, Taipei City 114, |
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Country : |
Taiwan |
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Date of Incorporation : |
FEBRUARY
3, 1987 |
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Com. Reg. No.: |
22357854 |
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Legal Form : |
PRIVATE |
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Line of Business : |
Importation
of chemicals and materials for the manufacturing process of cosmetic
products. Laboratory
Research & Development activities for cosmetics. |
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
100,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
CORUM INC
address
6FL-1, 360 RUEIGUANG RD NEIHU DIST
TAIPEI CITY 114, TAIWAN
TEL: 886-2-87516060
FAX: 886-2-87516363
EXECUTIVE SUMMARY
INCORPORATION
DATE : FEBRUARY 3, 1987
REGISTRATION
NO. : 22357854
LEGAL
FORM : PRIVATE
CHIEF
EXECUTIVE : MR. PEI-MIN
LEE (CHAIRMAN)
STAFF
STRENGTH : 56
CAPITAL : US$
1,378,254
BUSINESS
LINE : MANUFACTURER
TURNOVER : N/A (AS OF DEC.
31, 2005)
EQUITIES : N/A (AS OF
DEC. 31, 2005)
PAYMENT : AVERAGE
RECOMM.
CREDIT RANGE : USD 100,000
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : TWD 32.7000 =
US$1 AS OF 2007-1-8
Adopted abbreviations:
ANS -
amount not stated
NS - not
stated
SC -
subject company (the company inquired by you)
NA - not
available
M -
million
TWD
–Taiwan New Dollars
*Company
History*
===============
2003 - Joined the API
industry.
2006 - A new
manufacturing facility for API production was built.
*Company
Registration*
===================
(1)
License
number : 22357854
Date
issued : 3 February, 1987
Issuing
authority : Ministry of Economic
Affairs (MOEA)
(2)
License
number : 99676884
Date
issued : 4 January, 1989
Issuing
authority : Industrial Development
Bureau (MOEA)
Licence
type : Manufacturing Licence
*Registered
Office*
==============
Although
the company is operating its main business from the address listed above, the
actual business license is legally registered at :
Address : 6Fl, 360 Rueiguang Rd Neihu Dist Taipei
City 114
*Company
Name*
==============
Previous
name : CORUM CORP
Changed
name to : CORUM INC
Year of
change : 2002
*Factories,
Size & Locations*
=====================
Building
size : 3,000 sq feet (Approx.)
Property
status : Owned by CORUM INC
Type of
building : Industrial
Comment : Serves as Laboratory and
R&D center.
*Office
& Facilities*
===============
Size : 282 sq. ft. (Approx.)
Location : Central Business District
(CBD)
Property status
: Owned by ELGIN CORP (Affiliate company of CORUM INC)
Type of
building : Commercial & Industrial
building
Comment : Shares premises with
affiliates/subsidary companies.
Other
e-mail : skim@elgin.com.tw
Previous
Contact Details
--------------------------------
Address
: 12Fl, 11 Chung Shan North Rd Section 1, 104 Taipei City.
Tel
No. : 2-25713784
Fax
No. : 2-25614964
*Reputation*
==========
Reference
checking for the purpose of establishing the firm's reputation within the
respective industry failed to reveal any negative information.
Web
site: www.corum.com.tw
The design is professional and the content is well organized. At present it is
in English version.
E-mail: james.lee@corum.com.tw
For the
past two years there is no record of litigation.
*Major
Shareholders*
================
Shareholder's
name No. of Shares
-------------------------- -----------------
Mr.
Pei-min Lee
2,184,200
Mr.
Yung-shang Juan
2,184,193
Mr.
Jen-han Lee 65,803
Ms.
Yung-yi Juan 2
Management:
Mr. James Lee, Representative
Mr.
Pei-min Lee, President
Name Nationality Job Description
Mr.
James Lee Taiwanese Representative Sales
Mr.
Pei-min Lee Taiwanese President -
*Key
Personnel*
=============
Mr.
Pei-min Lee
Founder : Co-founder
Resident
status : Taiwan
Work
experience : More than 15 years
Responsibilities : Daily operation of the firm including all
financial, sales and legal matters.
*Main
Products & Services*
======================
Specializes
in two main areas of work:
1.
Importation of chemicals and materials for the manufacturing process of
cosmetic products.
2.
Laboratory Research & Development activities for cosmetics. As a means to supplement and provide advise
to their local customers.
Maintains
an in-house laboratory for the testing of materials imported by the company.
Product
also include:
-
PEG-200 Hydrogenated Glyceryl Palmitate
Products:
Alginic acids
Coconut oil
Cultured crystals
Polyisobutylene
Petroleum wax
*Brand*
======
CORUM
*Payment
Terms*
=============
Sales
------
Local : 30-60 days credit
Export
: Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
--------------
Local : 30-90 days credit
Import :
Document against Acceptance (D/A)
Letter of Credit (L/C)
*Quality
Certification*
==================
(1)
Type of
certification : ISO 9001:2000
Issuing
authority : BSI inspection
Date of
certification : March 2004
(2)
Type of
certification : cGMP certification
Year of
certification : 2006
*Competitors*
===========
The
following locally based companies supply similar range of products:
1. SING
SING ENTERPRISES CORP
2. FRANK
ENTERPRISE INC
3. LEE'S
CHEMICAL INDUSTRY CO LTD
4.
PROPAGATE TRADING CO LTD
5.
TRANCO LTD
6. YUE
BA ENTERPRISE CO LTD
7. PAN
ASIA CHEMICAL CORP
*Domestic
Customers*
=================
Selling
to a wide range of local brand cosmetics
manufacturers, including but not limited to:
- ARWIN
COSMETICS CO LTD
- GRAND
GLORY BIOTECHNOLOGY CORP
- AVON
COSMETICS TAIWAN LTD
- TAIWAN
SHISEIDO CO LTD
- GRACEE
COSMETICS CO LTD
*Local
Distribution Network*
=======================
80% of the
annual turnover is attributed to local sales .
*Export
Markets*
=============
20% of
the annual turnover is attributed to export to Asian countries.
*(Subsidiaries,
Joint-ventures & Affiliates)
===============================
Company
Name : AMUN CORP
Global
Identifier : 31551972
Address
: 6Fl-1, 360 Rueiguang Rd Neihu Dist Taipei City 114 Taiwan
Country
: Taiwan
Relationship
: Affiliate
Legal
Form : Private Limited Company
Company
Type : Trader
Industry
: Cosmetics, Toiletries & Personal Care
Company
Name : CORUM INC
Global
Identifier : P0891769
Address
: Rm D, 12Fl Zhong Xi Mansion 121-123 Jiang Su Rd Shanghai 200050 China
Country
: China
Relationship
: Subsidiary
Legal
Form : Private Limited Company
Company
Type : Manufacturer
Industry
: Chemicals
Company
Name : ELGIN CORP
Global
Identifier : 31501240
Address
: 6Fl-1, 360 Rueiguang Rd Neihu Dist Taipei City 114 Taiwan
Country
: Taiwan
Relationship
: Affiliate
Legal
Form : Private Limited Company
Company
Type : Manufacturer
Industry
: Chemicals
*OVERSEAS
AGENTS AND DISTRIBUTORS*
====================================
Agent :
CHEMIE ALLIANCE SDN BHD
Global
Identifier : P0891765
Country
of Origin : Malaysia
Agent :
CHEMICO INTER CORP CO LTD
Global
Identifier : P0759914
Country
of Origin : Thailand
Agent :
CHEMICO PHILIPPINES INC
Global
Identifier : P0746380
Country
of Origin : Philippines
Agent :
SUN FINE GLOBAL CO LTD
Global
Identifier : P0891766
Country
of Origin : South Korea
Agent :
LAUTAN LUAS TBK PT
Global
Identifier : 30618333
Country
of Origin : Indonesia
Agent :
ROVI GMBH & CO
Global
Identifier : P0891767
Country
of Origin : Germany
Agent :
KOSMETISCHE ROHSTOFFE KG
Global
Identifier : P0891768
Country
of Origin : Germany
PAYMENT RATING : 3 OBTAINED SCORES : 66
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Rating
Key |
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.
As a
private limited company with a paid-up capital of less than USD 6 million,
there is no legal requirement according to local corporate law for public
disclosure of detailed financials.
*Int´l
Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports
Total
2003 $2,650,000.00 $890,000.00 $3,540,000.00
2004 $4,550,000.00 $760,000.00 $5,310,000.00
2005 $4,330,000.00 $730,000.00 $5,060,000.00
Over the
past 20 years, SC has made a stable growth with satisfactory profit. It is
considered a credit line up to USD 100,000 appears to be within SC’s
capacities.
Attached:
trade references
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service
Description
Importing 2816
Inorganic pigments
Manufacturing 2800 Chemicals and Allied Products
Manufacturing 2843 Surface active agents
Manufacturing 2844 Toilet preparations
Manufacturing 2899 Chemical preparations,
Manufacturing 5169 Chemicals/Allied Prdts, NEC
Trading 2899
Chemical preparations,
Trading 5169 Chemicals/Allied
Prdts, NEC
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Exporting 3402110000
Soap & other organic surf-act
products,not for toilet use, in bars,cakes,
molded
pieces, and paper, etc impregnated or coated with soap
ordetergent
Exporting 3402191000
Organic surface active agents,other,aromatic
or modified aromatic
Importing 1513190000
Coconut (copra) oil and its
fractions, refined, but not chemically modified
Importing 2712902000
Other petroleum and mineral waxes
and similar products
Importing 3823110000
Stearic acid
Importing 3824901100
Cultured crystals, weighing not less
than 2.5 g each in the form of ingots
Importing 3902205000
Polyisobutylene,nesoi
Importing 3905911000
Other vinyl copolymers in primary
forms,containingy weight 50 percentor
more
of derivatives of vinyl acetate
Importing 3913100000
Alginic acid,its salts and esters
Manufacturing 2920 Esters of inorg acids &
salts; their halog etc
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Product/Service Description
Importing Mineral
waxes
Importing Stearic
acid
Importing Vinyl
chloride copolymers
Manufacturing Alkyl
ether carboxylates
Manufacturing Amphoteric
surfactants
Manufacturing Antioxidant
agents
Manufacturing Ascorbyl
dipalmitate
Manufacturing Corum
sugar
Manufacturing Diethylhexyl
sebacate
Manufacturing Octyldodecyl
esters
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting
to Asia
Exporting
to China
Exporting
to Indonesia
Exporting
to South Korea
Exporting
to Thailand
Exporting
to Vietnam
Importing
from Asia
Importing
from Europe
Importing
from France
Importing
from Germany
Importing
from Malaysia
Importing
from North America
Importing
from Singapore
Importing
from USA
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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