MIRA
INFORM REPORT
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Report Date : |
10.07.2007 |
IDENTIFICATION DETAILS
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Name : |
COSPACK INDUSTRIAL CORP |
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Registered Office : |
5FL-1, 1, Lane 538 Chung Cheng Rd |
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Country : |
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Date of Incorporation : |
February 12, 1979 |
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Com. Reg. No.: |
20812293 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Domestic outsourcing to local manufacturers of various Skincare & Cosmetic
Packing components and containers. Sales and export to international market. |
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 : |
Up To US$ 20,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
COSPACK INDUSTRIAL CORP
5FL-1, 1, LANE 538 CHUNG CHENG RD
TEL : 886-2-22188701
FAX : 886- 2-22188702
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 12, 1979
REGISTRATION NO. :
20812293
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. PEI-YUAN HOU (PRESIDENT)
STAFF STRENGTH :
5
CAPITAL :
US$ 151,057
BUSINESS LINE :
EXPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.7635 = US$1 AS OF 2007-7-10
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
*Company Registration*
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License number : 20812293
Date issued : 12
February, 1979
Issuing authority : Ministry of
Economic Affairs (MOEA)
*Office & Facilities*
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Size : 318 sq
meters
Location :
Property Status : Owned under
COSPACK INDUSTRIAL CORP
Type of Building :
Comment : Serves as
office and warehouse.
Other e-mail address : housmost@ms11.hinet.net
*Corporate & Organization Structure*
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A small company mainly operated and managed by the owner of the firm.
*Factories, Size & Locations*
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The company is a trading house which outsources all orders. Hence there
are no production facilities directly owned by the company.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
Web
site:
www.cospack.com The design is professional
and the content is well organized. At present it is in English version.
Email : cospack@cospack.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name % of Shares
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Mr. Pei-yuan Hou 99.00
Undisclosed Shareholders 1.00
*COMPANY MANAGEMENT*
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Name Nationality
Job Description Dept. / Division
Ms. Chia-jung Lin Taiwanese
Manager Sales
Mrs. May Hou Taiwanese
General Manager -
Mr. Pei-yuan Hou Taiwanese
President -
*Key Personnel*
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Mr. Pei-yuan Hou
Founder :
Sole-founder
Resident status :
Work experience : More than 20
years.
Responsibilities : Handles the
daily operation of the firm including all financials and legal matters.
*Main Products & Services*
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Specializes in the following areas of work :
1. Domestic outsourcing to local manufacturers of various Skincare &
Cosmetic Packing components and containers.
2. Sales and export to international market.
Products : Acrylic bottles
Cosmetic
cases
Cosmetic containers
Cosmetic
packaging components
PETG glasses
*Payment Terms*
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Sales
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Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T) - Received at time of transaction
Document against
acceptance (D/A)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T) - Received at time of transaction
Document against
acceptance (D/A)
*Competitors*
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The following locally based firms supply similar range of products:
- JIA HSING ENTERPRISE CO LTD
- REXAM DER KWEI COSMETIC PACKAGING LTD
- E-LINK PLASTIC & METAL INDUSTRIAL CO LTD
- CHIN I HO GLASS INDUSTRIAL CO LTD
- EIZAN ASSOCIATES MFG CO LTD
*Local Distribution Network*
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There is no record of local sales since the prime focus of the firm's
activity is concentrated on exports only.
*Export Markets*
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100% of the annual turnover is attributed to export.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : COSPACK AMERICA CORP
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Plastics & Products
PAYMENT RATING : 3 OBTAINED SCORES : 51
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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 SMALL
amounts depending on individual judgement experience.
*Bank Details*
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Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : ICBCTWTP
As a private limited company with a paid-up capital of less than US$ 6
million, there is no legal requirement according to
*Int´l Trade Activity (Currency:
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Year Imports Exports Total
2002 US$ 0.00 US$ 1,500,000.00 US$ 1,500,000.00
2003 US$ 50,000.00 US$ 1,000,000.00 US$ 1,050,000.00
2004 US$ 0.00 US$ 800,000.00 US$ 800,000.00
2005 US$ 50,000.00 US$ 1,000,000.00 US$ 1,050,000.00
SC is considered an old-established business in small size. It is
considered a credit line up to US$
20,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3221 Glass
containers
Exporting 3231 Products
of purchased glass
Exporting 3561 Pumps
and pumping equipment, except fluid power pumps
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3923 Containers
(boxes, bags etc), closurers etc, plastics
Exporting 7010 Glass
containers for packing etc & glass closures
Exporting 7010100000 Ampoules,
glass, of a kind used for the conveyance or packing of goods
Exporting 7010905010 Other glass
containers of a kind used for the conveyance or packing of goods,
with
or without their closures, holding not over 118 ml
Exporting 7010942050 Glass
containers for perfume and other toiletries; other containers with or for use
with
ground glass stoppers; not over 015 liter
Exporting 8413200000 Hand
pumps, other than pumps fitted or designed to be fitted with a measuring
device
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Exporter PP jars
Exporter Skincare
packing components
Exporter Cosmetic
packaging components
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
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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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%)