MIRA
INFORM REPORT
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Report Date : |
12.07.2007 |
IDENTIFICATION DETAILS
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Name : |
PAU TAI INDUSTRIAL CORPORATION |
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Registered Office : |
2 Floor, 4 State Bldg 301 Sung |
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Country : |
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Date of Incorporation : |
14.10.1971 |
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Com. Reg. No.: |
03315911 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of chemical raw materials for industrial use. Manufacture of a range of PVC, PE and PP resins, including PVC stabilizers, Di-n-butyltin dilaurate polymer
and tribasic lead sulphate. Export and domestic sales of its products |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
PAU TAI INDUSTRIAL CORP
2FL-4 STATE BLDG 301 SUNG
TEL:886-2-25053841
FAX:886-2-25057662
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 14, 1971
REGISTRATION NO. :
03315911
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. CHENG-MAO LIN (CHAIRMAN)
STAFF STRENGTH :
120
CAPITAL :
US$ 9,645,498
BUSINESS LINE :
MANUFACTURER
TURNOVER :
US$47,158,403.87 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.81096 = US$1 AS OF 2007-7-11
*Company Registration*
===================
License number : 03315911
Date issued : 14 October, 1971
Issuing authority :
Ministry of Economic Affairs (MOEA)
*Licenses & Permits*
================
License number : 99618963
Date issued : 5 October 1974
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
License number : 99618957
Date issued : 6 July 1999
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Factories, Size & Locations*
======================
Maintains two (2) manufacturing premises as listed below:
Size : 426 sq. meters (Approx.)
Location :
Type of building : Industrial building
Property status : Owned by PAU TAI INDUSTRIAL CORP
Size : 20 sq. meters (Approx.)
Location :
Type of building :
Industrial building
Property status : Rented
*Office & Facilities*
===============
Size : 176 meters (Approx.)
Location :
Property status : Owned by PAU TAI INDUSTRIAL CORP
Type of building : Commercial building
Other tel no. : 25059069
Previous tel. no. : 2-25413841
*Corporate & Organization Structure*
=============================
A medium sized specialized company operated by the owner and a team of professional
management.
*Industry Ranking*
================
Generally regarded as one of the Top 1000 Companies in Manufacturing
Industry of Taiwan. Details of rank are
as follows:
Year Rank
------- ---------
2005 923
2006 957
*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.pautai.com the design is
professional and the content is well organized. At present it is both in
Chinese and English version.
E-mail: pautai@ms9.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Shareholders' Name No of
Shares
-------------------------- -----------------
Mr. Yu-cheng Lin
6,285,800
Ms. Yu-min Lin
5,541,675
Mr. Tiao-chih Wu
4,426,485
Mrs. Wen-hui Wu Tsai 4,391,839
Mr. Cheng-mao Lin
2,047,120
Mrs. Hsiu-mei Lin Huang 1,439,006
Management: Mr. Shui-chi Li,
Manager
Mr. Cheng-mao Lin, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Shui-chi Li Taiwanese
Manager Sales
Mr. Cheng-mao Lin Taiwanese
General Manager -
*Key Personnel*
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Mr. Cheng-mao Lin
Resident status :
Founder : Co-Founder
Work experience : More
than 30 years
Responsibilities : Handles the daily operation of the firm including all
financial and legal matters
*Main Products & Services*
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Specializes in three main areas of work:
1. Importing of chemical raw materials for industrial use.
2. Manufacture of a range of PVC, PE and PP resins, including PVC stabilizers, Di-n-butyltin dilaurate
polymer
and tribasic lead sulphate.
3. Export and domestic sales of its products
Products also include:
- Di-n-butyltin dilaurate polymer
Products:
Acrylic polymer
Artificial waxes
Barium stearate
Binders
Cadmium stearate
*Brand*
======
*Payment Terms*
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Sales
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Local : 30-90 days credit
Cash
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic Transfer
(T/T)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic Transfer
(T/T)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Quality Certification*
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Type of certification : ISO 9001
*Exhibition Participation*
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Exhibition fair :
Dates attended : 21-25 June, 2001
Location :
*Competitors*
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The following locally based companies supply identical range of products
:
- ACR TECH CO LTD
- BAYER POLYURETHANES TAIWAN LTD
- POWER CHEMICAL CORP
- CHANT OIL CO LTD
- FAMOUS WORLD INDUSTRIES CO LTD
*Domestic Customers*
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Mostly selling to domestic manufacturers of PVC products and PVC
extruding facilities.
*Local Distribution Network*
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36% of the annual turnover is attributed to local sales.
*Export Markets*
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64% of the annual turnover is attributed to export.
*International Trade Ranking*
========================
The firm has been ranked among
Board of Foreign Trade (BOFT)
Details of rank are as follows :
Year Rank
------ -------
1997 908
2003 693
2004 794
2005 689
*LOCAL BRANCHES & MANAGEMENT*
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Branch :
PAU TAI INDUSTRIAL CORP -
Branch Address :
Branch Tel :
[+886] 4-22354385
Branch Fax :
[+886] 4-22354386
Branch Employees : 10
*(Subsidiaries, Joint-ventures & Affiliates)
================================
Company Name : HUZHOU
ADVANCE CHEMICALS LTD
Address :
Linhu Processing Zone Huzhou
Country :
Relationship :
Joint-Venture
Legal Form :
Private Limited Company
Company Type :
Manufacturer
Industry :
Chemicals
Company Name : PAU TAI
INDUSTRIAL CORP (DONG GUAN OFFICE)
Address : Rm
212 Block 1 Si Huan Rd Dong Cheng District Dongguan
Country :
Relationship :
Subsidiary
Legal Form :
Private Limited Company
Company Type :
Manufacturer
Industry :
Chemicals
Company Name :
Address :
Tomson Centre B-Tung-1203,
Country :
Relationship :
Subsidiary
Legal Form :
Private Limited Company
Company Type :
Manufacturer
Industry :
Chemicals
Company Name :
SELECTRONS CO LTD
Address :
1Fl, 4, Lane 263,
Country :
Relationship :
Subsidiary
Legal Form :
Private Limited Company
Company Type :
Importer
Industry :
Food Products
Company Name :
Address :
Country :
Relationship :
Subsidiary
Legal Form :
Private Limited Company
Company Type :
Manufacturer
Industry :
Chemicals
*Subsidiaries, Joint-ventures & Affiliates*
=================================
Maintains factories located in
PAYMENT RATING :3 OBTAINED SCORES : 72
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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.
At the time of preparing of this report detailed financials were not
available.
However financial summaries were obtained for reference.
*Bank Details*
============
Bank Name : FIRST
COMMERCIAL BANK CO LTD
Branch : Chungcheng
Dist,
Branch Address : 10Fl,
SWIFT Code :
FCBKTWTP
Bank Name : HUA
NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code :
HNBKTWTP
Bank Name :
Branch :
Chungcheng Dist,
Branch Address :
SWIFT Code :
UWCBTWTP
Financial Summary (Currency:
==============================
Year Sales Assets Net Income
2001 $31,514,799.77 $23,853,743.47 n/a
2002 $40,701,350.96 $25,438,344.35 n/a
2004 $41,654,135.34 $35,157,894.74 n/a
2006 $47,158,403.87 $39,903,264.81 $2,871,825.88
Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
1996 $3,900,000.00 $6,500,000.00 $10,400,000.00
1997 $5,300,000.00 $10,600,000.00 $15,900,000.00
1998 $9,700,000.00 $15,100,000.00 $24,800,000.00
2004 $19,720,768.00 $27,200,896.99 $46,921,664.99
2005 $21,952,424.99 $36,205,123.00 $58,157,547.99
2006 $19,863,061.00 $35,224,958.01 $55,088,019.01
*Financial Ratios*
===============
Year Net Worth Return on Return on Debt to Return on
(NTD100 M) Sales (%) Asset (%) Asset (%) Equity (%)
------ ------------- ------------ ------------- ------------ --------------
2001 3.92 - - 52.31 -
2002 3.05 - - 65.54 -
Over the past 36 years, SC has made a stable growth with satisfactory profit. It is considered a credit line up to USD 500,000 appears to be within SC’s capacities.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2816
Inorganic pigments
Importing 2819
Industrial inorganic
chemicals,
Importing 2869
Industrial organic
chemicals,
Manufacturing 2800 Chemicals and Allied Products
Manufacturing 2816 Inorganic pigments
Manufacturing 2819 Industrial inorganic chemicals,
Manufacturing 2899 Chemical preparations,
Manufacturing 2992 Lubricating oils & greases
Trading 2800
Chemicals and Allied
Products
Trading 3069
Fabricated rubber
products,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2823
Titanium oxides
Exporting 2918
Carboxylic acid, added oxygen &
anhy etc, hal etc
Exporting 3403
Lubricating preps, antirust &
treating textiles etc
Exporting 3404
Artificial and prepared waxes
Importing 2712
Petroleum jelly; mineral waxes &
similar products
Importing 2816
Hydrox etc of magnesium; oxides etc
strontium etc
Importing 2825
Hydrazine etc, other inorg bases;
metal oxides etc
Importing 2833
Sulfates; alums; peroxosulfates (per
sulfates)
Importing 2836
Carbonates; peroxocarbonates; comm amm
carbonate
Importing 2914
Ketones & quinones &
halogenatd, sulfonatd der etc
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Importer Hydroxide
Importer Hydrazine
Importer Sulfate
Importer Ketones
Importer Ethylene polymer solutions
Importer Binders
Importer Artificial waxes
Importer Coloring matter
Importer Heterocyclic compounds
Importer Organic compounds
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to
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Exporting to
Exporting to
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Exporting to
Exporting to
Exporting to
Importing from
Importing from
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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%)