MIRA
INFORM REPORT
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Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
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Name : |
FORMOSA PLASTICS CORP |
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Registered Office : |
Rm 201 |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
October 30, 1954 |
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Com. Reg. No.: |
75708007 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Manufacture, domestic sales and export of Machinery and related parts,
Packing materials, Chemical Products, Fabrics and carpets. Importation of chemicals and machine parts |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Up To US$ 80,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
NAME AND ADDRESS
FORMOSA PLASTICS CORP
RM 201
TEL: 886-2-27122211
FAX: 886-2-27175287
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 30, 1954
REGISTRATION NO. :
75708007
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR. CHIH-TSUEN LEE (CHAIRMAN)
STAFF STRENGTH :
4,860
CAPITAL : US$ 1,728,239,124
BUSINESS LINE :
MANUFACTURER
TURNOVER :
TWD 147,458,205,000 (AS OF DEC. 31, 2006)
EQUITIES :
TWD 167,194,260,000 (AS OF DEC. 31, 2006)
PAYMENT :
EXCELLENT
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
STRONG
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : GOOD
EXCHANGE RATE :
TWD 32.7584 = US$1 AS OF
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
HISTORY
*Company History*
================
30 October, 1954 - Constructed
the first PVC plant in
April 1957 - Started
operations with a monthly PVC capacity of 120 metric tons.
1958 -
Set-up
1960 -
Invested in the TUNG SHAN CALCIUM CARBIDE CORP with a monthly capacity of 2,000
metric tons.
1963 -
Expanded the
1964 -
Listed on the Taiwan Stock Exchange market.
1965 - TUNG
SHAN CALCIUM CARBIDE CORP added an electric furnace to increase capacity
to 4,000 MT/month.
-
Established Engineering Section.
-
Caustic Soda plant at Chienchen came on stream. (70 MT/day)
1966 -
Chienchen Caustic Soda plant set up a department to produce DOP.
1967 -
Tairylan plant was built at Chienchen to produce acrylic fiber, with a daily
capacity of 4
metric tons.
1968 -
Increased calcium carbide capacity to 8,500 MT/month.
-
Set up the Kuandu plant to produce acrylic yarn and carpet.
-
20 tanks were added at Chienchen to raise caustic soda capacity to 88 MT/day.
-
Improved production technology to increase Tairylan production capacity to 20
MT/day.
1969 - Set
up a Machinery plant.
-
Took over the CHI HO FIBER CO and changed the name to the Sanhsia plant.
1970 -
Chienchen added a commutator to increase capacity for liquid caustic soda to
100 MT/day.
1971 - Two
new units at Chienchen raised daily output of Tairylan to 55 MT/day.
1972 - PVC
plant at Jenwu started operation, with a capacity of 2,400 MT/month.
-
Dyeing and knitting equipment of Kuandu plant were moved to the Sanhsia plant.
-
Engineering Section was expanded and renamed the Engineering & Construction
Division.
1973 -
Build a PVC plant in
- Capacity of the DOP plant was increased to
2,500 MT/month.
-
Printing equipment was added at the Sanhsia plant.
-
Machinery plant was expanded and moved to the Jenwu plant.
- Jenwu plant began
construction of a Caustic Soda plant with a capacity of 525 MT/day
and a VCM plant with a capacity of 240,000 MT/Y.
1974 -
Capacity of A and B acrylic fiber at Jenwu was increased to 50 MT/day.
1975 -
First VCM plant at Jenwu was completed and came on stream with an annual
production
capacity of 240,000 metric tons.
-
PVC capacity at Jenwu plant was increased to 9,000 MT/month.
-
Construction of Wharf#29 was completed.
-
Caustic Soda plant at Jenwu came on stream (525 MT/day).
-
Machinery plant was restructured into the Machinery Division.
-
A utilities plant with a 246 MT/hour boiler was added.
1976 - Founded
1977 -
Plastics Division phased out the use of calcium carbide in its manufacture of
VCM.
-
Test production of E-process Compound fiber (C series) began at Jenwu plant.
-
A
1978 -
Caustic soda capacity at Chienchen was increased to 105 MT/day.
-
Construction of the first phase PVC plant at
production capacity
of suspension PVC resin by 1,500 MT/month to a total of 9,000
MT/month.
- Second
phase of VCM plant at Jenwu constructed, with capacity of 240,000 MT/Y.
-
Tairylan plant at Jenwu successfully developed E-process Compound fiber (D
series).
Chienchen and Jenwu plants totaled 165 MT/day.
1979 -
Tairylan plant at Chienchen was shut down; some equipments were transferred to
Jenwu
plant.
-
Started planning investments in the
-
Two 8,000 KW oil-fired generators were added.
-
Tairylan plant at Jenwu expanded capacity by 30 MT/day (F series).
-
An expansion was added to the PVC plant at Jenwu to produce 100,000 MT/Y of
Mass PVC
resin.
1980 -
Machinery Division entered into technical cooperation with the RENK CORP.
-
Tairylan plant at Jenwu expanded its capacity by 30 MT/day.
-
-
Second phase expansion of the VCM plant at Jenwu was completed, increasing the
total
production capacity to 480,000 MT/Y.
-
Caustic Soda plant at Jenwu added four tanks, which increased its capacity to
530
MT/month.
-
Installed a Benson boiler of 180 MT/Hr, a steam generator of 23,500KW, and an
oxygen
plant of 3,667 NM3/Hr.
1981 -
Completion of the 30 MT/day (G series) expansion at the Jenwu Tairylan plant
increased
capacity to 210 MT/day.
-
Second phase expansion of Dispersion PVC resin at
monthly capacity of 900 MT.
-
A calcium carbonate plant with capacity of 10,800 MT/month was begun at the
calcium
carbide plant.
-
Printing and garment making operations at Sanhsia were shut down.
- Expanded the PE (120,000 MT/Y), Utility
(120T/H, co-generation 15,800 KW) and AE
plant (28,500 MT/Y) at Linyuan.
November 1981 - DOP plant was
shut down.
1982 - A and
B series at the Tairylan plant were converted to E-Type, resulting in an
increase of
production capacity to 240 MT/day.
-
FPC USA started operations.
-
100,000 MT/Y Mass PVC resin expansion plant came on stream.
-
Jenwu Caustic Soda plant added an IEM-1 ion-exchange system with capacity of
116
MT/day.
-
10,800 MT/month Calcium Carbonate plant came on stream.
1983 - A
Polyolefin Division was established.
-
Planning began for Phase Three production of VCM at 240,000 MT/Y.
-
Succeeded in developing carbon fiber.
-
Set up the PE processing section.
1984 -
120,000 MT/Y HDPE plant at Linyuan came on stream.
-
Machinery Division signed a cooperative agreement with MURATA CORP of
manufacture automatic warehousing systems.
-
Build the
-
Acrylic Acid and Ester plant came on stream with an annual capacity of 28,500
MT/Y.
1985 - A
chlorofluorcarnbon plant with a capacity of 23,040 MT/Y was completed.
-
Chienchen Caustic Soda plant was shut down.
- Caustic Soda plant using
the IEM-1 process at Jenwu came on stream with a daily
increased of 116 metric tons.
-
VCM plant at Linyuan came on stream; as a result, the total capacity of VCM was
increased to 720,000 MT/Y.
-
A carbon fiber plant with a capacity of 100 MT/Y was constructed.
-
Completed the expansion project of 2EHA (2 Ethyl Hexyl Acrylate).
1986 -
Build the wax plant with an annual capacity of 1,440 metric tons.
-
Build the 300 MT/Y carbon precursor plant.
-
Build the 330 MT/Hr coal boiler.
-
Set up the Lungteh Machinery plant.
-
A PVC plant with capacity of 140,000 MT/Y was completed at Linyuan.
- Planning
to invest in the Sixth Naphtha Cracking Project.
-
Expansion of
-
100 MT/Y carbon fiber plant came on stream.
-
Build a MBS plant with a capacity of 12,000 MT/Y at Linyuan.
1987 -
Released the following products: MBS, Non-gloss PVC, High Molecular HDPE,
Rectangular Cross-section Acrylic Fiber, Super Absorbent Polymer,
Precursor for
Carbon Fiber.
-
Taical plant came on stream with a capacity of 400 MT/month.
-
Production of carpet tile began at a capacity of
-
Build the second phase PVC plant at Linyuan with an annual capacity of 70,000
metric tons.
-
Machinery Division established the Heavy Duty Lifting Equipment Department.
- 300 MT/Y carbon precursor
plant came on stream.
-
Tairylan Division build a 30 MT/day special fiber production line (H series).
1988 - A
6,000 MT/month Maerz limestone kiln was installed.
-
Build the Hsinkang plastic processing plant in Chiayi to produce garbage bags
(120MT/
month), shopping bags (140MT/month) and deli bags (40MT/month).
-
Tairylan Division's 30 MT/day special fiber plant came on stream, increasing
capacity to
300 MT/day.
-
Linyuan utility plant added a 200 T/Hr boiler and 49,460 KW co-generator.
- Expansion of Taical
production line (600 MT/M).
-
Installed the BCF-PP and flat fiber production line, the latter having a
capacity of 1,800
MT/Y.
- Production at the Jenwu Caustic
Soda plant was shifted from the mercury process to the
ion-exchange process, at a capacity of 425 MT/day.
-
completed the second carbon fiber plant with capacity of 130 MT/Y.
-
Jenwu utility plant added two sets of co-generators.
1989 -
Machinery Division set up the Heavy Duty Machine Shop.
-
First phase PVC resin plant at Linyuan came on stream with a capacity of
140,000 MT/Y.
-
Mercury process was shut down. The IEM-2 started operations with a capacity of
425
MT/day.
- Second Taical production line went into
operation with 12,000 MT/Y capacity.
-
Invested USD100 million to establish the FORMOSA PLASTICS CORP, America (FPCA),
building IEM plant (liquid caustic soda 633,000 MT/Y, chlorine 571,000
MT/Y) and EDC
plant (600,000 MT/Y).
-
MBS plant at Linyuan came on stream with a capacity of 12,000 MT/Y.
1990 -
Second phase carbon fiber expansion was completed, increasing the total
capacity to 230
MT/Y.
-
Acrylic Acid and Ester plant was expanded to 75,000 MT/Y.
-
Second phase of PVC facilities at Linyuan was completed, creating a capacity of
70,000
MT/Y.
-
Chlorofluorocarbon plant came on stream with a capacity of 23,040 MT/Y.
1991 - Established
FORMOSA HEAVY INDUSTRIES CORP.
-
Constructed the Hsinkang Super Absorbent Polymer plant, with an annual capacity
of
6,000 metric tons.
-
Completed the Hsinkang PE bag plant.
-
Started production of distributed control systems (DCS), with capacity of 18 to
24 systems
per year.
-
Constructed NS-2500 calcium carbonate process with a capacity of 6,000 MT/Y.
-
Two sets of 350 T/Hr boilers and co-generators with 201,400 KW capacity went
into
operation at Jenwu.
-
Constructed the Hsinkang POM plant, with an annual capacity of 20,000 metric
tons.
-
200 T/Hr boiler and co-generator with 49,460 KW capacity went into operation at
Linyuan.
1992 -
Transferred assets and personnel of the Machinery Division to Formosa FORMOSA
HEAVY INDUSTRIES CORP.
-
Set up co-generator with 125,900 KW capacity at Jenwu plant.
-
DCS installation and testing facilities went into operation.
-
Started pilot production for CFC substitutes HCFC-141b and 142b.
-
Increased capitalization in FORMOSA PLASTICS CORP,
-
Fiber Processing Division was closed.
1992 -
Jointly established FORMOSA PETROCHEMICAL CORP by FORMOSA PLASTIC CORP,
NAN YA PLASTIC CORP and FORMOSA CHEMICALS & FIBRE CORP to plan,
design,
construct and operate a sizeable portion of the huge expansion project
of No. 6 Naphtha
Cracking Project.
-
Personnel of Olefin Team-were transferred to FORMOSA PETROCHEMICAL CORP.
1993 -
Super Absorbent Polymer plant with a capacity of 6,000 MT/Y was completed and
put into
operation at Hsinkang.
- Constructed KS-50 calcium carbonate
equipment with a capacity of 7,500 MT/month.
-
Established MAILIAO HARBOR ADMINISTRATION CORP.
-
Pilot plant for POM, with a capacity of 1,000 MT/Y, went on line at Hsinkang.
5 July, 1993 -
Officially announced the commencement of work on the Sixth Naphtha Cracking
Project
-
Six electrolytic cells added 35,300 MT of annual capacity at the Jenwu Caustic
Soda plant.
1994 -
Began construction on a USD10bn petrochemical complex in Yunlin province that
will
contain 37 plants, including naphtha cracker and oil refinery.
-
Carbide plant added a MAERZ limestone Kiln (9,000 MT/Y).
-
Expansion of the Linyuan PVC plant includes processing aids and acrylic
modifiers (5,760
MT/Y for PA, 1,440 MT/Y for AM and 3,600 MT/Y for MBS).
-
Invested in ASIA PACIFIC INVESTMENT CO.
-
Processed with the second phase expansion of the Super Absorbent Polymer
plant(6,000
MT/Y).
1995 - Implemented the third stage
expansion project for the carbon fiber with annual capacity
of 500 MT.
-
Addition of one precipitated calcium carbonate plant (3,000 MT/month) and one
set
of U-Cal facility (1,200 MT/month) in the Calcium Carbide plant.
-
Processed with the expansion of the HDPE plant to a 180,000 MT/Y facility.
-
Completed and started production of the POM plant (20,000 MT/Y).
-
Completed the installation of one set of co-generator with 500 T/Hr (125,900
KW)
capacity in Jenwu plant.
- Completed the second phase Super
Absorbent Polymer plant expansion (6,000 MT/Y).
-
Transferred 5% holding of FORMOSA PETROCHEMICAL CORP to
TAFFETA CORP.
- Invested NTD432 million
(24% share holding) to form FORMOSA KOMATSU SILICON
COR with
INVESTMENT CO.
1996 - Completed the third stage
project for carbon fibers.
-
Completed the expansion project for processing aids and acrylic modifiers in
Linyuan
PVC plant.
- Invested for the establishment
of MAILIAO POWER CORP.
-
Completed the modification project for Linyuan Polyethylene plant to raise the
annual
capacity to 180,000 MT.
- Invested for the
establishment of Formosa MAILIAO MAINTENANCE & ENG CORP
1997 -
Implemented the first stage expansion project for the Carbon Fiber plant in
Mailiao with
an annual capacity of 1,000 MT.
-
Chlorofluorocarbon plant renamed Hydrochlorofluorocarbon plant.
-
Precipitated calcium carbonate plant (3,000 MT/month) and U-Cal facility
(1,200 MT/month) began production
1998 -
Completed and started production of the Mailiao AA/AE plant (100,000 MT/Y).
-
Completed and started production of the Mailiao PVC plant (420,000 MT/Y).
-
Olefin Team-renamed as Chemicals Division.
-
Invested NTD 200 million (50% share holding) to form FORMOSA ASAHI SPANDEX CO
LTD with
-
Completed and started production of the Mailiao HDPE plant (240,000 MT/Y).
1999 -
Completed and started production of the Mailiao Caustic Soda plant (phase I
1,000
MT/day).
-
Completed and started production of the Mailiao VCM plant (600,000 MT/Y)
-
Invested NTD50 million (50% share holding) to form FORMOSA DAIKIN ADVANCED
CHEMICALS CO LTD with
-
Processed with the third phase expansion of the Super Absorbent Polymer plant
(12,000
MT/Y).
- Processed with the PDP plant
(phase I 7,200SETS/Y) in Sanhsia.
2000 -
Completed and started production of the Mailiao Carbon Fiber plant (1,000
MT/Y).
-
Invested for the establishment of FORMOSA PLASTICS MARINE CORP.
-
Completed the third phase Super Absorbent Polymer plant expansion (12,000
MT/Y).
-
Completed and started production of the Mailiao Caustic Soda plant (phase II 500
MT/day).
-
Completed and started production of the Mailiao C4 plant (MTBE 151,000 MT/Y and
B-1
17,000 MT/Y).
-
Completed and started production of the Mailiao EVA/LDPE plant (200,000 MT/Y).
-
Completed and started production of the Mailiao AN plant (200,000 MT/Y).
2001 - Set up a Hospital in the Chiayi area.
- Invested for the establishment of FORMOSA
GROUP OCEAN MARINE INVESTMENT
CORP (19% share holding).
- Completed and started
production of the Mailiao LLDPE plant (240,000 MT/Y).
- Invested for the establishment
of FORMOSA TELETEK CORP (100% share holding).
- Completed and started
production of the Mailiao MMA plant (70,000 MT/Y).
-
Completed and started production of the Mailiao ECH plant (80,000 MT/Y).
- PDP plant (phase I 7,200
SETS/Y) in Sanhsia began production.
- Completed and started
production of the Mailiao paste PVC plant (36,000 MT/Y).
- Invested for the establishment
of SU-HUA TRANSPORT CORP (25% share holding).
2002 - Invested for the establishment of FORMOSA
PLASMA DISPLAY CORP (77.5% share
holding).
- Completed the Mailiao AE plant
expansion (18,000 MT/Y)
- Invested for the establishment
of FORMOSA INDUSTRIES (NINGBO) CO LTD for PVC
production (300,000 MT/Y).
- Signed the PDP MOU with FUJITSU
HITACHI PLASMA DISPLAY CORP and AU
OPTRONICS CORP.
- Invested in GALA TELEVISION CORP
(6.25% share holding).
- Bought 49% share holding of
YUNGCHIA CHEMICAL INDUSTRIES CORP from
CENTRAL INVESTMENT CO
22 May, 2002 - Received approval to invest USD 43 million in
a PVC plant in
1 August, 2003 - Merged YUNGCHIA CHEMICALS INDUSTRIES CORP and
renamed as Polypropylene
Division responsible for PP business.
- Completed the Mailiao HDPE
phase III expansion (50,000 MT/Y).
- FPC supplied 63,734,000 FPCC
shares for FPCC IPO (NT 43 per share).
- Processed with the new
production of NF3 plant (100 MT/Y) in Jenwu.
-
Invested for the establishment of FORMOSA ACRYLIC ESTERS (NINGBO) CO LTD
for
AE production (230,000 MT/Y).
TRADE REFERENCES
Continuation of company history
---------------------------------------------
6 March, 2003 - Decided to merge YUNGCHIA CHEMICALS
INDUSTRIES CORP (1.96 shares of Yungchia
stock for 1 share of FPC stock).
- Invested for the establishment
of FORMOSA ENVIRONMENTAL TECHNOLOGY
CORP (24.34% share holding).
- Completed the Linyuan PP plant
expansion (50,000 MT/Y).
- Completed the Hsinkang POM
plant expansion (5,000 MT/Y).
- Completed the Mailiao MMA plant
(MAA 20,000 MT/Y)
- Completed and started
production of the Jenwu LiPF6 plant (200 MT/Y).
- Completed the Jenwu Acrylic
Fiber plant expansion (13,000 MT/Y).
9 July, 2004 - Bought a cumulative 12.74 million shares in
NAN YA PLASTICS CORP at an average price
of NTD 44.81.
- Invested for the establishment
of FORMOSA POLYPROPYLENE (NINGBO) CO LTD for
polypropylene production (450,000 MT/Y).
*Company
Registration*
===================
License number : 75708007
Date issued : 30
October, 1954
Issuing authority : Ministry
of Economic Affairs (MOEA)
*Licenses &
Permits*
================
License number : N/A
Year issued : 1981
Issuing authority : S.U.U2
Type of license : Authorization license
Details : Such license was received by its
Machinery Division
License number : 9966181800
Date issued : December 1990
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
License number : 9966536101
Date issued : December 1990
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
License number : 9965504200
Date issued : August 1991
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
License number : 9965304500
Date issued : November 1998
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
License number : 9965344300
Date issued : June 2002
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
License number : 6400000823
Date issued : July 1969
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
License number : 9962036100
Date issued : January 1990
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
License number : 9966140800
Date issued : December 1990
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
*Licensing
Agreements*
===================
Technical cooperation agreements between FORMOSA PLASTICS and foreign
concerns include the
following:
Company name
Country
Service
-------------------------
-----------------------
-------------------
HIT CO
STONE & WEBSTER ENGINEERING USA
Ethylene/Propylene plant technology &
Engineering/design services
*Capital Details*
==============
Initial registered capital
: TWD 5,000,000.00
Capital increases as follows:
Date
Increase (TWD)
------ ----------------------
1998
2,657,000,000.00
---
48,080,000,000.00
---
55,530,000,000.00
---
57,200,000,000.00 with a paid-up capital of NTD 55,530,000,000.00
---
57,204,715,000.00
*Office &
Facilities*
================
Size : 120,000
sq ft (Approx)
Facilities : Modern
Property status : Owned by
FORMOSA Group
Type of building : Commercial
building
Other Contact Details
-----------------------------
Tel no : 2-27178114; 27122211
Extn 6010
Fax no : 2-27193262
Previous Contact Details
---------------------------------
Tel No : 2-7122211
Email : pjlau@fpc.com.tw
*Corporate &
Organization Structure*
=============================
Organization Chart
| ---- Plastics Division
|
Chairman
| ---- Tairylan Division
Y.C. Wang
|
|
| ---- Carbide Division
|
|
President
------------------------------------------------------------------- | ----
Engineering & Const Division
C. T. Lee |
|
|
|
| ----Administration Dept | ---- Polyolefin Division
| |
|
President's | ---- Management Analysis | ---- Chemicals Division
Office | Dept |
|
| ----- Polypropylene Division|
|
|
|----
Personnel Dept |
----- Plastics Processing Dept
|
|
| ----
Special Project Dept | -----
Electronics Special Project Dept
|
|
|
| ----- R & D Dept
| ---- Sales Management Dept
|
|
| -----
|
|
| ---- General Affairs
Dept | -----
|
|-----
Labor Safety & Hygiene Dept
|
|-----
Accounting Dept
|
|-----
Warehousing & Shipping Dept
|
|-----
Organization and management of the company is divided into three (3)
basic areas which include :
- Production
- Management
- Research & Development
Organization and management of the company is divided into the following
:
Division
Telephone number Fax
number E-mail address
----------- ------------------------- ---------------- ---------------------
Plastics Division 2-27178126 2-27137012 chrishuang@fpcpvc.com.tw
Tairylan Division 2-27178135 2-27134818 aamattrl@fpc.com.tw
Calcium Carbide Division
2-27178152
2-27193261
philipchen@fpc.com.tw
Polyolefin Division 2-27178145 2-27193260 tpsalpol@fpc.com.tw
Chemicals Division 2-25460210 2-27178340 402180@fpc.com.tw
Plastics Processing Dept.
2-27178113 2-27193262 tapro@fpc.com.tw
Electronics Dept. 7-3718114 7-3727026 hwepd@fpc.com.tw
*Factories, Size
& Locations*
=======================
Location : Jenwu Hsiang,
Other tel no : 7-3711411
*Machinery &
Equipment*
======================
Vessels :
- 4 units specially-built ships
The Lin Yuan HDPE plant maintains a computer-controlled automatic
warehouse designed and fabricated by FORMOSA PLASTIC'S Machinery Division, a
separate revenue-generating division of the corporation.
The machine shop facilities at the Jen Wu plant are primarily
responsible for fabrication and maintenance of equipment for all GROUP companies.
*Long & Short
Term Investment*
==========================
(1)
Type of Investment : PVC Factory
in
Year of Investment : 1987
Investment Amount : USD 65 million
(2)
Type of Investment : 2 units
3,200 ton vessel
Year of Investment : 1987
Investment Amount : USD 50 million
Details :
Specifically designed for the purpose of shipping petrochemical materials
(3)
Type of Investment : PVC Plant in
Date of Investment : June 2002
Investment Amount : USD 43 million
Details :
Initial investment for a NTD150 billion (USD 4.4 billion) of a 1,100-hectare
petrochemical zone in Ningbo of Jiangsu province in
*Sales Ranking*
=============
Details of rank are as follows:
Year Rank
------ -------
1996 14
1997 13
1998 19
2000 17
2001 16
2002 19
2004 25
2005 28
2006 27
*Industry Ranking*
================
(1)
Ranked among the top ten companies in
Rank Details
------- ----------
2 amongst companies leading in
domestic sales.
5 amongst companies producing
man-made fibers.
1 amongst companies producing
plastics.
5 amongst companies producing
chemicals.
2 amongst companies producing
machinery.
companies.
1 amongst companies producing
petrochemical products
1 amongst companies producing
chemicals
7 amongst companies producing
machinery
10 amongst companies producing man-made fiber
textiles
6 amongst companies producing
man-made fiber
(2)
Rank among the Top 500 Corporations. Details as follows:
Year Rank
------- --------
1992 5
1985 2
1986 2
(3)
Considered as one of the Top 2000 Companies.
Ranking as follows :
Year Rank
------- ---------
2000 2
1999 4
1998 4
(4)
Ranked as Top 1000 largest Companies in
Details as follows:
Year Rank
---------
----------
1999 891
2000 893
(5)
Considered as one of the Taiwan 10 Guidepost Enterprises conducted by
the Chinese Language Common Wealth magazine.
(6)
Generally regarded as one of the Top 1000 Companies in manufacturing
industry of
*Auditors*
==========
KPMG PEAT MARWICK LTD
WEBSITE
Web site: www.fpc.com.tw
The design is professional and the
content is well organized. At present it is both in Chinese and English versions.
Email : formosa@fpc.com.tw
LITIGATION
3 Found
Litigation (1)
Position :
Defendant
Other Parties Involved :
Position Country Party's Name
Plaintiff
Defendant
Defendant Taiwan FORMOSA CHEMICALS & FIBRE CORP
Case Issue :
Accused for air and water pollution infringements in
Date Commenced : 1986
Status :
Not stated
Litigation ( 2 ) Not Adverse
Position :
Plaintiff
Other Parties Involved :
Position Country Party's Name
Defendant
Case Issue : A
petition to the court stating that the delay was not caused by
consider the return of the money paid for the
service provided.
Date Commenced : 7
November, 2001
Status :
Pending
Summary :
Environment Protection Service (EPS) which is
based from Basel Convention after
these products have been returned by the
Cambodian Government. However, this
request has not been completed due to other
reason (did not provided any detailed)
hence the deposited money has been
confiscated.
Litigation ( 3 ) Not Adverse
Position :
Plaintiff
Other Parties Involved :
Position Country Party's Name
Defendant
Case Issue : A
petition to the court stating that the waste is not owned by
to have a judgment at
Court :
Date Commenced : 2
January, 2002
Date Closed : 7
November, 2001
Status :
Pending
Summary :
up process of waste in February 2000.
However
OWNERSHIP /
MANAGEMENT BACKGROUND
*Major
Shareholders*
==================
Shareholders' Name
No. of Shares
--------------------------- -------------------
FORMOSA CHEMICALS & FIBRE CORP 437,353,602
FORMOSA PETROCHEMICAL CORP 107,943,765
Mr. Min-ting Ho
25,003,922
Mr. Jui-hua Wang
3,412,189
Mr. Chih-tsun Lee
1,134,563
Mr. Jerome Chi-lang Ko
471,090
Mr. Kuo-hsiung Wu
147,900
Mr. Tsung-ching Huang
77,559
Mr. Yu-jui Chang 10,300
Mr. Chao-lin Yang
3,423
Mr. Hsu-ping Pai
2,060
*Director's
Details*
===============
(1)
Mr. Guang-Bi Chang
Other Positions : - Representative, FORMOSA CHEMICALS & FIBRE CORP -
(2)
Mr. Ruo-Tao Huang
Other Positions : - Representative, FORMOSA PETROCHEMICAL CORP -
(3)
Mr. Feng-Chin Lin
Other Positions : - Representative, NAN YA PLASTICS CORP -
*Company
Directors*
==================
Name : Mr. Jason Chien-nan Lin
Other Details : Responsibility : Assist president to councilor all
businesses of whole company.
Name : Mr. Spencer White
Nationality :
Name : Mr. W.B. Chen
Nationality :
Name : Mr. Y.R. Chang
Nationality :
MANAGEMENT
*COMPANY
MANAGEMENT*
==========================
Name Nationality
Job Description Dept. / Division
Mr. Ta-chi Yu Taiwanese
Manager Account
Mr. Pen-yuan Chang Taiwanese
Manager Finance
Mr. Wayne Chih-hsiung Hsiao Taiwanese
Assist. Manager -
Mr. Dah-Jye Yu Taiwanese
Asst. to Vice President -
Mr. W.U. Wang Taiwanese
Executive Director -
Mr. Wilfred Wang Taiwanese
Executive Director -
Mr. Z.H. Wang Taiwanese
Executive Director -
Mr. Z.L. Yang Taiwanese Executive Director -
Mr. Jason Chien-nan Lin Taiwanese
Executive Vice-President -
Mr. Kuo-hung Wei Taiwanese
General Manager -
Mr. Tzu-feng Chang Taiwanese
General Manager -
Mr. Wen-lung Yang Taiwanese
General Manager -
Mr. Jerry Sheng-kuan Lin Taiwanese
Manager -
Mr. Ping-chin Chen Taiwanese
Manager -
Mr. Ying-tsai Chen Taiwanese
Manager -
Mr. Chih-tsuen Lee Taiwanese
President -
Mr. Jerome Chi-lang Ko Taiwanese Senior Vice President -
Mr. T.J. Huang Taiwanese
Senior Vice President -
Mr. Tsung-chang Lee Taiwanese
Senior Vice President -
Mr. Tsung-ching Huang Taiwanese
Senior Vice President -
Mr. Kuo-hsiung Wu Taiwanese
Supervisor -
Mr. Ralph Ho Taiwanese
Supervisor -
Mr. Sheng-Fu Lyu Taiwanese
Supervisor -
Mr. Chien-nan Lin Taiwanese
Vice General Manager -
Mr. Benny Chang Taiwanese
Vice President -
Mr. Bing-Chin Chen Taiwanese
Vice President -
Mr. Cheng-jung Lin Taiwanese Vice President -
Mr. Fu-Shou Xie Taiwanese
Vice President -
Mr. Guo-Hong Wei Taiwanese
Vice President -
Mr. Han-fu Lin Taiwanese
Vice President -
Mr. Tze-fong Chang Taiwanese
Vice President -
Mr. Wen-song Chang Taiwanese
Vice President -
*Key Personnel*
=============
(1)
Mr. Wen-Song Chang
Responsibility : Manage all operating and management businesses of
Carbide Division.
(2)
Mr. Tze-Fong Chang
Responsibility : Manage all operating and management businesses of
Polyolefin Division.
(3)
Mr. Benny Chang
Responsibility : Manage all businesses of Finance Division.
(4)
Mr. Bing-Chin Chen
Responsibility : Manage all operating and management businesses of
Tairylan Division.
(5)
Mr. TJ. Huang
Responsibility : Assist President to councilor all operating and
management businesses of whole company.
(6)
Mr. Jerome Chi-lang Ko
Responsibility : Assist President to councilor all R&D businesses of
whole company.
(7)
Mr. Chih-tsuen Lee
Age : 70 years
Responsibility : Manage all operating and management businesses of whole
company.
(8)
Mr. Tsung-chang Lee
Responsibility : Assist President to councilor all operating and
management businesses of whole company.
(9)
Mr. Han-fu Lin
Responsibility : Manage all operating and management businesses of
Polypropylene Division.
(10)
Mr. Jason Lin
Responsibility : Assist president to councilor all businesses of whole
company.
(11)
Mr. Cheng-Jung Lin
Responsibility : Manage all operating and management businesses of
Plastics Division.
(12)
Mr. Sheng-Fu Lyu
Other Positions : - Representative,
(13)
Mr. W.U. Wang
Other Positions : - Representative, FORMOSA CHEMICALS & FIBRE CORP -
(14)
Mr. Wilfred Wang
Other Positions : - Representative, FORMOSA PETROCHEMICAL CORP -
(15)
Mr. Guo-Hong Wei
Responsibility : Manage all operating and management businesses of
Chemicals Division.
(16)
Mr. Fu-Shou Xie
Responsibility : Manage all operating and management businesses of
Engineering & Construction Division.
(17)
Mr. Dah-Jye Yu
Responsibility : Manage all businesses of Finance Division.
BUSINESS OPERATIONS
*Main Products
& Services*
======================
Specializes in manufacturing the areas of work:
1. Manufacture, domestic sales and export of the following products:
- Machinery and related parts
- Packing materials
- Chemical Products
- Fabrics and carpets
2. Importation of chemicals and machine parts
Products are classified as follows:
Machinery related parts
---------------------------------
- Shafts
- Bearing Houses
- Gears and Gearing
- Flywheels
- Pulleys and Pulley Blocks
Packing materials
-----------------------
- Containers of Plastic (food pckg)
- Polyethylene Film
- High and Low Density Polyethylene bags
Intermediate plastics and other petrochemicals
--------------------------------------------------------------
- Synthetic Hydrocarbon Wax
- Calcium Carbide
- Vinyl Acetate Polymer
- Polyvinyl Chloride Paste Resin
- High Density Polyethylene
- EVA resin
- HDPE resin
- POM resin
Chemical products
-------------------------
- Synthetic Methacrylic Acid, its Salts & Esters
- Synthetic Butyl Acrylate
- Sodium Hydroxide, Flakes
- Dense Calcium Carbonate
- Acrylic type processing aids
- Acrylic type impact modifiers
- Calcium carbonate, activated
- HCFC-141b,142b
- Light master batches
- MBS type impact modifiers
- Taical
- Vinyl chloride-vinyl acetate copolymer
Fibers
---------
- Discontinuous Polyacrylontrile Fibers (top carded, not carded or else
prepared for spinning)
- 100% Synthetic Fiber
- 100% Polyacrylic Fiber
- Carbon fiber prepregs
- Carbon fiber reinforced plastics
Fabrics and carpets
---------------------------
- Weft-knitted Fabrics
- Yarn-dyed Fabrics
- Carpets
- Carpeting and Rugs of Synthetic Fiber
Yarns
--------
- Synthetic Fiber Yarns
- Acrylic Spun Yarn
Products : 2-ethyl hexyl acrylate
Acetone
Acrylate
monomers
Acrylic acid
Acrylic
esters
*Brand*
=======
Brand
*Technologies
Developed and/or Acquired*
===================================
(1)
Product Developed : MBS
(Methymethacrylatebetadiene-styrene)
Launched Date : 1987
Details : The development of the MBS will save the
company USD12.5 million per year on
Japanese imports of the
material and increase its revenue to USD7.5 million through
exports.
(2)
Type of technology : Plasma display panel (PDP) technology
Country : North America
(3)
Type of technology : Ion exchange membrane technology, with
fully computerized control system
Acquired from : UHDE
Country :
(4)
Type of technology : Ion exchange membrane technology, with
fully computerized control system
Acquired from : ASAHI
Country :
*Detailed Product
Specifications*
==========================
(1)
Product :
Mass PVC
Major applications :
Rigid sheets, film, floor tiles, transparent bottles, pipes and fittings
(2)
Product :
Suspension PVC
Major applications :
Rigid and flexible rubberized fabric, film, rubber, window blinds,
electric wire and cable,
construction materials, piping,
lounge chair, handbags, Christmas trees, inflatable
products and auto parts.
(3)
Product
: Copolymer PVC
Major applications : Rigid
plate, asbestos tiles, printing ink, surface finishes, paints, and records.
(4)
Product :
Emulsion PVC
Major applications : Rigid and flexible dolls, toys, socks, auto
parts, wall coverings, carpets, gloves,
sponged
leather and soft leather.
(5)
Product
: Liquid Caustic Soda
Major applications : Synthetic fibers, rayon staple fiber, dyes,
paper industry, soaps, detergents, bleaching
agents, leather processing industry,
sodium silicate oil and grease removal, water
treatment, aluminum hydroxide,
sodium sulfite and chemical products.
(6)
Product
: Flake Caustic Soda
Major applications : Synthetic fibers, rayon staple fiber, dyes,
paper industry, soaps, detergents, bleaching
agents,
leather processing industry, glass, spices, oil and grease removal, pesticides
and
medicinal industry.
(7)
Product
: Liquid Chlorine
Major applications : Rayon staple fiber, cleaning agents for tap
water and water treatment, bleaching agents,
synthetic fibers, resins, pesticides and organic chemicals industry.
(8)
Product
: Hydrochloric Acid
Major applications : Flavor essences, various kinds of inorganic
chlorinated materials, medicines, pesticides,
dyes, flavorings, plating, rust removal
and general neutralization purposes.
(9)
Product
: Vinyl Chloride Monomer (VCM)
Major applications : Raw material for PVC resin production
(10)
Product
: Plastics Modifiers
Major applications : MBS : processing
of rigid sheets, blow-molded plastic bottles, packing materials, artificial
leaves and credit cards.
PA : semi-rigid and rigid processing aids, plastic pipe materials, board
materials, sheets,
blow-molded bottles, door and window construction materials.
AM : rigid sheets, extrusion
rigid board, extrusion foaming construction materials, vinyl
doors and windows.
(11)
Product :
Hydrochlorofluorocarbons (HCFCs) : Including HCFC-22, HCFC-141B and
HCFC-142B,
all
of which are important chemicals for modern living.
Major applications : Coolant in air conditioners and
refrigerators, foaming agent, cleaning agents, solvents.
(12)
Product
: High-Density Polyethylene
(HDPE)
Major applications : Film grade : shopping bags, garbage and
industrial uses, and liners for packing
purposes.
Blow-molding grade : bottles for edible oils, milk, liquid
medicines, detergents etc and
tool boxes.
Extrusion grade : rope,
filing folders, fishing nets, woven bags, canvas and base
cloth.
Injection grade : moving
crates, beer cartons, water buckets, water tower, athletic
equipment and toys.
Pipe coating grade : steel
pipes, steel shrink coating.
(13)
Product
: Ethylene Vinyl Acetate
Copolymer (EVA)
Major applications : Foam grade : shoe materials, soles.
Film-blowing grade : packing
bags, agricultural thermal film.
Coating grade :
intramembrane of tetra pak, paper finishing films.
Bottle-blowing grade : plastic
bottles, milk bottles.
Injection
grade : various types of
toys.
(14)
Product
: Linear Low-Density Polyethylene
(LLDPE)
Major applications : Film-blowing grade : heavy duty packing bags, shopping
bags and garbage bags.
Film casting grade :
packing film for food use.
Rotation molding grade : large
size containers
Injection grade : small containers
(15)
Product
: Processed Plastic Products like
Shopping bags, Produce bags, Garbage bags, Draw
String
bags etc.
Major applications : Packaging materials for supermarkets and
general household use.
(16)
Product
: Carbon Fibers
Major applications : Tennis rackets, fishing rods, bicycles, golf
clubs, auto parts, electro-mechanical parts,
aeronautical
materials.
(17)
Product
: Acrylic Acids and Esters
Major applications : Synthetic fibers, paints, adhesives,
emulsified oils, pastes, acrylic boards, fiber finishing
agents,
thermosetting industrial finishes.
(18)
Product : Super Absorbent Polymer (SAP)
Major applications : Disposable diapers, diaper inserts and
feminine napkins, nursery moisture absorbers, soil
improvement fluids, dewing
preventatives, desiccants, water and oil separators, sealants
and freezer packs.
(19)
Product :
Acrylic Fiber
Major applications : Yarns, sweaters, knitted fabrics, carpets,
sports wear, high-end cloth for suits, threads,
skirts, gloves, bedding, curtains
etc.
(20)
Product : Quick Lime
Major applications : Raw material used in the manufacture of
calcium carbide, precipitated calcium carbonate, gypsum and milk of lime,
desulfurization in steel refining, bleaching pulp of neutralizing agent,
desiccant and disinfectant, refractories, grinding ingredients and soil
modifiers.
(21)
Product
: Calcium Carbonate
Major applications : Additives for plastic, rubber, flue gas
desulfurization, paint, building materials, papermaking, fodder, neutralizing
agents, wire and cables, medicine, food, toothpaste,
cosmetics, etc.
(22)
Product
: Taical/ U-cal (Master batch of
CaCo3 + PP/PE)
Major applications : Additives for PP, PE, PS and other processing
industries, PP/PE injection molding, and extrusion products used in garbage
bags, shopping bags and corrugated paper.
(23)
Product
: Precipitated Calcium Carbonate,
colloidal Calcium Carbonate, Nano Calcium Carbonate
Major applications : Additive for rubber, plastic processed
products, paper, paints, inks and sealant, etc.
(24)
Product
: U-Cal
Major applications : For PP and PE injection molding and extrusion
products used in garbage sacks, shopping bags and knitted bags.
(25)
Product : Polyoxymethylene (POM)
Major applications : Gears and
parts for electronics, electrical machinery, automobiles, transportation
equipment, general machinery, and medical instruments, as well as plastic
zippers and stays.
(26)
Product : Distributed Control Systems and
Computer Monitoring System
Major applications : Suitable
for various continuous or batch processing to achieve complete automation and
centralized plant monitoring.
(27)
Product :
Software for Automation of Vertical Storage and Materials Handling
Major applications : For the
control and development of all types of automated storage and transport
systems.
(28)
Product :
Software and Hardware for General Automatic Systems
Major applications : Control and
monitoring systems as well as distributed medium and small control systems.
(29)
Product : CIM
Coordination
Major applications : This brings
together computer-based MIS, DCS and automated storage computer controls in an
integrated production system.
(30)
Product :
Acrylonitrile (AN)
Major applications : Acrylic
staple fiber, ABS/SAN resin, home electrical appliances, auto parts, stationery
items, safety helmets, luggage cases, sports equipment and NBR rubber.
(31)
Product :
Methyl Tert Butyl Ether (MTBE)
Major applications : Unleaded
gasoline additive.
(32)
Product :
Butene-1
Major applications : The sub-material
for HDPE and LLDPE
(33)
Product :
Methyl Methacrylate (MMA)
Major applications : Acrylic
plates, grains and pipes; plastics modifiers, additives for paints, coatings
and adhesives.
(34)
Product : Epichlorohydrin
(ECH)
Major applications : Printed
Circuit Board (PCB), automobile paint, metal container linings, water-proofing
and building reinforcement material.
(35)
Product :
Homopolymer PP
Major applications : BOPP film,
IPP film, CPP film, yarn, woven bags, staple fiber, filter cloth, thermoforming
sheet, transparency pressure forming sheet, portfolio, toys, food containers,
housewares, electrical appliances, thin walled products, storage boxes, etc.
(36)
Product : Random copolymer PP
Major applications : Shrink
film, heat sealing layer, portfolio, general food & garment packaging,
transparency portfolio, transparency CPP film, transparency container, medical
wares, housewares, food containers, transparency storage boxes, etc.
(37)
Product :
Impact copolymer PP
Product :
Pail, sports appliance, base of luggage, automotive parts, electric appliance
parts, tool boxes, furniture, storage boxes, thin wall products, bumpers,
pallet, PPB pipe, corrugated sheet, etc.
*Payment Terms*
==============
Sales
-------
Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
--------------
Local : Cash
30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Competitors*
===========
The following locally based firms supply similar range of products:
- USI CORP
- TAIWAN POLYPROPYLENE CO LTD
- ORIENTAL UNION CHEMICAL CORP
- ASIA POLYMER CORP
- ROHM & HAAS TAIWAN INC
*Associations*
=============
Member of the following associations :
-
-
*Awards*
========
Award : Outstanding
Award for the Protection of the Ozone Layer and the Production Industry
Technology
Development
Award
Year : 1994
Details : Won such award for the successful
development of CFC substitutes HCFC-141b and 142b.
*Production Capacity*
==================
Unit: Metric Tons
Item
Maximum Capacity
Current Capacity
-------
--------------------------- ------------------------
PVC Resins
1,401,000
1,202,484
VCM 1,580,000 1,488,094
Liquid Caustic Soda 883,000 819,226
HDPE
450,000
419,761
Calcium Carbonate 258,000 124,361
Acrylic Acid & Esters 198,000 201,370
AN
240,000
206,702
MTBE
174,000
169,811
LDPE
110,000 88,318
Acrylic Staple Fiber 92,000 85,631
EVA
90,000
75,958
Epichlorohydrin 80,000 72,035
Methyl Methacrylate 84,000 61,599
Calcium Carbide 54,000 16,794
SAP 30,500 33,713
CFC
16,700 1,588
Bags
12,000 9,995
Carbon Fiber
2,000 507
*Quality Certification*
==================
Type of Certification : ISO 9002
Year of Certification : 1994
Granted the ISO 9002 certificate to the following division :
- Plastic Division CFC Plant
- Plastic Division Jenwu Naoh Plant
- Plastic Division Jenwu PVC Plant
- Plastic Division Jenwu VCM Plant
- Plastic Division Kaoshiung PVC Plant
- Plastic Division Linyuan Plastic Plant
- Tairylan division Acrylic Acid and Ester Plant
- Tairylan Division Tairylan Plant
- Linyuan Plant
- Tungshan Plant
*Local Distribution Network*
=======================
Approximately 52% of the annual turnover is attributed to local sales.
*Domestic Raw Materials Suppliers*
============================
Major local suppliers include:
(1)
Supplier's Name : CHINA PETROLEUM
CORP
Material/components : Ethylene,
Propylene
(2)
Supplier's Name : FORMOSA
PETROCHEMICAL CORP
Material/components : Ethylene,
Propylene
(3)
Supplier's Name : TAIWAN
INDUSTRIAL CHLORIDE CO LTD
Material/components : VCM
(4)
Supplier's Name : WAN HORN
ENTERPRISE CO LTD
Material/components : Ethylene,
Salt
(5)
Supplier's Name : MINDMAN
INDUSTRIAL CO LTD
*Domestic Suppliers*
=================
(1)
Supplier's Name : LEE CHANG YUNG CO LTD
Main Item : Industrial
used oil barrels
(2)
Supplier's Name : CHENG DEH FIRE PROTECTION INDUSTRIAL CORP
Main Item : Fire
protection devices
Others suppliers include :
- FORMOSA CHEMICALS & FIBER CORP
- FORMOSA HEAVY INDUSTRIES CORP
-
- FU-TAI ENGINEERING CO LTD
- HARVEST SCIENTIFIC CORP
-CTCI CORP
- DAIREN CHEMICAL CORP
*Domestic Customers*
==================
Major local customers include :
(1)
Customer's/Client's Name : NEW PARADISE ENTERPRISE CO LTD
Product/Buying :
PVC
Annual Sales :
NT$4,000,000
(2)
Customer's/Client's name : HORNG HWA ENTERPRISE CO LTD
Product/Buying :
Window screens, stripping and jammers
(3)
Customer's/Client's name : ETERNAL CHEMICAL CO LTD
Product/Buying :
Acrylate monomer
Other local clients includes :
- CHIN CHIAO ENTERPRISE CO LTD
- FORMOSA CHEMICALS & FIBER CORP
- MEAN TIME ENTERPRISE CO LTD
-
- TAI SHIH TEXTILE INDUSTRY CORP
- VAN ZION INDUSTRIAL CO LTD
- YU CHI PLASTICS FABRICATION CO
- DAIREN CHEMICAL CORP
- PAN INT'L INDUSTRIAL CORP
- COIN CHEMICAL INDUSTRIAL CO LTD
- YUAN JEN ENTERPRISE CO LTD
- TAIWAN POWER CO
- FORMOSA PETROCHEMICAL CORP
- WGJ CO LTD
- SPACE SHUTTLE HI-TECH CO LTD
- FORMOSA CHEMICALS & FIBRE CORP
- LIDYE CHEMICAL CO LTD
*Imports*
=========
Imports 8,000 tons of PVC from
Recorded by the China External Trade Development Council as one of 5,084
selected ROC importers between
1986 and 1987, with the following
import commodities registered:
Chemicals & Petrochemicals
---------------------------------------
Barium, Alkyl and Vinyl Chloride
Saturated Acrylic, Butyl, Methyl, Vinyl, Polyvinyl and Fatty
Alcohols
Butene/Butylene
Dichloroethane
Hydrocarbons (Halogenated derivatives, Sulfonated derivatives)
Ketones, Quinones and derivatives
N-Hexane Propylene
Acrylonitrile, Synthetic
Dimethyl Formamide
Organo Sulphur Compounds
Filament Tow
Cellulose
Anionic Exchange Resin
Organo-Inorganic Compounds
Stearate Salts
Basic Violet
Sodium Lauryl Sulfate
Petroleum Cokes
Catalysts, for polymerization & compounded
Rubber Anti-oxidants
Textile Chemicals
Metals
-----------
Iron/Steel Beams (worked, non-worked)
Sheet Piling
Stainless Steel Sheets
Steel/Stainless Steel Fittings (pipe & tubing)
Tubes & Pipes, Nickel Alloys
Iron/Steel Containers, for compressed or liquified gas
Machinery
----------------
Boilers
Centrifuges & Pumps
Compressor & Vacuum Pumps/Parts
Engines & Parts
Liquid Piston Vacuum Pumps
Machinery for Steam Power Plant
Mixed Flow Pumps
Reciprocating Compressors (Gas)
Soot Removers Parts
Volute Pumps (liquids)
Washing / Dry Cleaning Machine Parts
Bending / Folding / Forming Machines
Boring Machines
Grinding Machines
Machine Tools & Parts
Cranes, Overhead Traveling
Ring Roll & Bowl Mills
Vibrating Conveyor
Rubber Good Manufacturing Machinery
Mechanical Appliances & Parts
Plastic Manufacturing Machinery
Vulcanized Fiber Making Machinery Ash Dischargers, Mechanical
Baling Machines
Gate Valve
Main Cock
Materials for Heat Treating Apparatus & Parts
Rings, Oil Seals
Shafts, Bearings, Gears, Flywheels, Pulleys
Automatic Valves
Electrical Circuit Protection Apparatus
Electrical Explosion-Proof Motor
SF6 Circuit Breakers
Computers
Data Processing System
Micro Computer
Centrifugal Refrigerating Machines
Measuring Equipment
-------------------------------
Electrical Controlling Equipment
Electrical Quantities Measuring Recorders
Electrochemical Analyzer
Flow Meters & Liquid Supply
Flow-, Depth-, Pressure-, Controlling Instruments (liquid or gas)
Gas Chromatograph
Level Meters
Physical or Chemical Analysis Instruments
Tensile Strength Machines
Thermometers Accessories, parts of
Viscosity, Porosity Expansion, Measuring or Checking Instruments
Miscellaneous
---------------------
Anthracite
Bituminous Coal, non-coking
Sea Salt
100% Jute Yarn, not for re-sale
Magnetic Tape, Pre-recorded
Rubber Plates & Sheets, vulcanized
Rubber Articles, hardened
Wheels & Wheel Tires
Fire-Fighting Vehicles
Trailers/Semi-Trailers
*Export Markets*
==============
Approximately 48% of the annual turnover is attributed to export
worldwide.
*International Trade Ranking*
========================
The firm has been ranked among
Board of Foreign Trade (BOFT)
Details of rank are as follows :
Year Rank
------ ----------
1997 023
2002 25
2003 13
2004 16
2005 14
*Overseas Suppliers*
=================
(1)
Country :
Supplier's Name : ITOCHU
CHEMICAL FRONTIER CORP
Products/Materials :
Chemicals
(2)
Country :
Supplier's Name : SAUDI
BASIC INDUSTRIES CORP
Products/Materials : Ethylene,
Alcohols
(3)
Country :
Supplier's Name : MITSUI
CHEMICALS INC
Products/Materials : Ethylene,
Salt
*Overseas Customers*
==================
Name : JONG STIT CO LTD
Country :
*Overseas Agents And Distributors*
===========================
Agent : REN TONG INDUSTRIAL LTD
Country of Origin :
Product Description : Acrylic resin materials
Brand :
Year : 1995
*LOCAL BRANCHES & MANAGEMENT*
===================================
Branch : FORMOSA PLASTICS CORP - JENWU HSIANG
Branch Address : 100 Shui Kuan Rd Jenwu Hsiang,
Branch Tel : [+886] 7-3711410
Branch : FORMOSA PLASTICS CORP (FIBER FABRICATION DIVISION) - SANCHIH
HSIANG
Branch Address :
Branch Tel : [+886] 2-86711933
Branch : FORMOSA PLASTICS CORP (TUNGSHAN PLANT) - TUNGSHAN HSIANG
Branch Address : 201 Tung Fu Rd Tungshan Hsiang, Ilan Hsien 269
Branch Tel : [+886] 3-9591134
Branch Fax : [+886] 3-9593066
Branch : FORMOSA PLASTICS CORP (LINYUAN PLANT) - LINYUAN HSIANG
Branch Address : 1 Shi Hua 1st Rd Linyuan Hsiang,
Branch Tel : [+886] 7-6419911
Branch Fax : [+886] 7-6812051
Branch : FORMOSA PLASTICS CORP - HSINKANG HSIANG
Branch Address : 3
Branch Tel : [+886] 5-3772111
Branch Fax : [+886] 5-3772050
Branch : FORMOSA PLASTICS CORP - MAILIAO HSIANG
Branch Address : 1
Branch Tel : [+886] 5-6812345
Branch Fax : [+886] 5-6812051
*(Subsidiaries , Joint-ventures & Affiliates)
================================
Company Name : FIRST INT'L COMPUTER INC
Address : 1-9Fl,
Country :
Relationship : Affiliate
Legal Form : Public Company
Company Type : Manufacturer
Industry : Computer & Information Products
Company Name : FORMOSA ASAHI SPANDEX CO LTD
Address : 1Fl,
Country :
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Textiles & Raw Material
Company Name : FORMOSA AUTOMOBILE CORP
Address : 11Fl
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Motor Vehicles, Parts & Accessories
Company Name : FORMOSA CHEMICALS & FIBRE CORP
Address : 2Fl
Country :
Relationship : Affiliate
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Chemicals
Company Name :
Address : Rm 445 10Fl
Country :
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : FORMOSA HEAVY INDUSTRIES CORP
Address : 4Fl
Country :
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Machinery
Company Name : FORMOSA PETROCHEMICAL CORP
Address : Rm 99, 4Fl
Country :
Relationship : Joint-Venture
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Petrochemicals
Company Name : FORMOSA PLASMA DISPLAY CORP
Address : Rm 369, 9Fl
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Plastics & Products
Company Name :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Plastics & Products
Company Name : FORMOSA PLASTICS CO
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : FORMOSA TELETEK CORP
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : HWA YA POWER CORP
Address : 4Fl
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Electrical Equipment & Appliances
Company Name : MAI-LIAO POWER CORP
Address :
Country :
Relationship : Joint-Venture
Legal Form : Public Company
Company Type : Importer
Industry : Electrical Equipment & Appliances
Company Name : MAILIAO HARBOR ADMINISTRATION CORP
Address : 4Fl
Country :
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name :
Address :
Country :
Relationship : Minor Investments
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Plastics & Products
Company Name : YIJI CONSTRUCTION CO LTD
Address : 2Fl
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Construction & Construction Materials
*Subsidiaries, Joint-ventures & Affiliates*
=================================
Joint-ventures
--------------------
(1)
FORMOSA ASAHI SPANDEX CO LTD
This is a joint venture between the following companies :
- FORMOSA PLASTICS CORP
- ASAHI CHEMICAL INDUSTRY CO LTD (
(2)
FORMOSA HEAVY INDUSTRIES CORP
This is a joint-venture between the following companies :
- FORMOSA PETROCHEMICAL CORP
-
- FORMOSA PLASTICS CORP
(3)
FORMOSA PLASMA DISPLAY CORP
This is a joint venture between the following companies:
- FUJITSU HITACHI PLASMA DISPLAY LTD (23.1%)
- FORMOSA PLASTICS CORP (76.9%)
(4)
FORMOSA PETROCHEMICAL CORP
This is a joint venture between the following companies:
- FORMOSA PLASTICS CORP (29.96%)
-
- FORMOSA CHEMICALS & FIBRE CORP (25.72%)
- FORMOSA TAFFETA CORP
- FORMOSA HEAVY INDUSTRIES CORP
(5)
This is a joint-venture between the following companies :
- FORMOSA PLASTICS CORP
- DAIKIN INDUSTRIES LTD
(6)
MAILIAO HARBOR ADMINISTRATION CORP
This is a joint venture between the following companies :
- FORMOSA PETROCHEMICAL CORP
- FORMOSA PLASTICS CORP
-
- FORMOSA CHEMICALS & FIBRE CORP
- FORMOSA HEAVY INDUSTRIES CORP
(7)
MAI-LIAO POWER CORP
This is a joint venture between the following companies :
- FORMOSA PLASTICS CORP
-
- FORMOSA CHEMICALS & FIBRE CORP
- FORMOSA PETROCHEMICAL CORP
*Strategic Partners & Alliances*
==========================
(1)
Group Name : FORMOSA PLASTICS Group
Founder : Mr.
Yung-ching Wang
Holding company : FORMOSA
PLASTICS CORP
Country :
Group Members :
Local Companies
------------------------
- FORMOSA PLASTICS CORP
-
- FORMOSA CHEMICAL & FIBER CORP
- FORMOSAPETROCHEMICAL CORP
- FORMOSA HEAVY INDUSTRIES CORP
- FORMOSA KOMATSU SILICON CORP
- FORMOSA TELETEK CORP
- FORMOSA PLASMS DISPLAY CORP
- HWA YA POWER CORP
- FORMOSA ASAHI SPANDEX CO LTD
-
- INOTERA MEMORIES INC
- MIZ PORT MANAGEMENT CORP
- PFG FIBER GLASS CORP
- NAN TA TECHNOLOGY CORP
-
- WENG FUN INDUSTRIAL CO
- TAH SHI SPINNING CORP
- FORMOSA TAFFETA CORP
- FORMOSA TRANSPORT CORP
-
- CHANG GUNG BIOTECHNOLOGY CORP
- FORMOSA TECHNOLOGY CORP
- MAI-LIAO POWER CORP
- MAILIAO HARBOR ADMINISTRATION CORP
Overseas Companies
--------------------------
- FORMOSA PLASTICS MARINE CORP
- FORMOSA PLASTICS CORP,
- NAN YA PLASTICS CORP,
- NAN YA PLASTICS CORP,
- INTEPLAST GROUP LTD - INTEPLAST
-
- J-M MANUFACTURER CO INC
Education & Medical Care
-------------------------------------
-
-
- CHANG GUNG INSTITUTE OF TECHNOLOGY
- MING CHI INSTITUTE OF TECHNOLOGY
PAYMENT RATING :
1 OBTAINED SCORES : 92
|
Rating Key |
Implication |
Implications |
|
1 |
Scores 85–100 |
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 LARGE amounts depending on individual judgement experience.
*Bank Details*
============
Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
Bank Name : CHIAO TUNG BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKCMTWTP
Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : HNBKTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : ICBCTWTP
Bank Name : TAISHIN INT'L BANK
Branch : Chungshan Dist,
Branch Address : 1Fl Hsin Kung Bldg
SWIFT Code : TSIBYEYP
Balance Sheet
Currency : TWD
Denomination : in Thousands
2002 2003 2004 2005 2006 March 2007
-------- -------- -------- -------- -------- --------------
Current
Assets
28,909,279 42,283,063 58,008,000 55,608,862 94,891,806 101,863,889
Funds
& long-term investments
73,318,580 72,802,115 87,102,091 100,196,930
110,406,983 115,562,681
Property
62,156,375 62,385,162 66,412,308 71,670,769 73,474,889 74,958,222
Other
Assets
7,719,105 5,244,781 4,636,701 4,650,061 3,755,600 2,795,916
Total
Assets 172,276,891 183,599,804 216,767,533
232,745,680 284,828,895 298,157,850
Current
Liabilities (Before)
15,087,236 23,023,159 29,505,265 22,766,311 35,061,078 32,337,808
(After) 20,528,916 31,839,801 48,029,712 45,694,635 60,413,487
Long-term
Liabilities
56,325,735 47,935,316 46,752,547 53,833,108 50,706,829 50,443,371
Other
Liabilities 3,946,346 4,706,537 5,179,759 5,688,967 6,514,319 6,627,652
Total
Liabilities (Before)
75,359,317 75,665,012 81,437,571 82,288,386 92,282,226 89,408,831
(After) 80,800,997 84,481,654 99,962,018 105,216,710
117,634,635
Common
stock
45,347,335 48,068,685 50,952,807 55,538,559 57,204,716 57,204,716
Capital
Reserve
14,868,677 13,283,246 12,423,998 12,032,970 11,840,850 11,838,150
Retained
Earnings (Before)
34,824,400 44,748,871 70,839,728 80,916,029 87,210,864 94,565,283
(After) 29,382,720 35,932,229 52,315,281 57,987,705 61,858,455
Total
Shareholder's Equity
(Before) 96,917,574 107,934,792 135,329,962
150,457,294 192,546,669 208,749,019
(After) 91,475,894 99,118,150 116,805,515
127,528,970 167,194,260
Income Statement
Currency : TWD
Denomination : in Thousands
2002 2003 2004 2005 2006 March 2007
-------- -------- -------- -------- -------- ---------------
Operating
revenue
65,710,772 84,468,581 121,938,523 135,718,385
147,458,205 37,457,699
Gross
Profit
11,387,924 14,907,458 27,112,152 22,359,016 18,112,639 5,384,176
Operating
Income
5,968,321 9,124,044 20,345,137 15,054,192 10,956,369 3,535,336
Non-operating
income 8,630,615 10,868,873 22,024,168 24,289,087 23,010,028 5,244,795
Non-operating
expense
2,884,399 3,313,615 3,948,679 1,585,302 1,856,491 423,235
Net
Income 9,898,473 16,606,149 36,349,561 33,186,499 30,889,316 7,354,419
Earnings
(losses) per share (After)
2.18 3.45 7.13 5.98 5.40 1.29
*Financial Ratios*
=============
2002 2003 2004 2005 2006 March 2007
-------- -------- -------- -------- -------- ----------------
Ratio
of liabilities to Assets %
43.74 41.21 37.57 35.36 32.40 29.99
Ratio
of long-term capital
to fixed Assets% 246.54 249.85 274.17 285.04 331.07 345.78
Current
ratio%
191.61 183.65 196.60 241.64 270.65 315
Quick
ratio%
121.57 131.57 137.41 173.10 219.32 256.46
Interest
coverage 5.42 8.09 24.73 38.81 21.54 21.68
Turnover
of receivable (times)
15.73 16.58 18.19 14.95 14.55 15.15
Average
collection period
of receivable 23 22 20 24 25 24.00
Turnover
of inventories (times)
5.64 6.93 7.05 7.31 8.21 7.52
Turnover
of expense (times)
14.53 13.03 12.09 12.12 13.02 1390
Average
days of sales 65 53 52 50 44 49.00
Turnover
of fixed assets (times)
1.06 1.35 1.84 1.97 2.01 2.00
Turnover
of total assets (times)
0.38 0.46 0.56 0.60 0.52 0.50
Return
on total assets%
6.90 10.23 18.76 15.10 12.19 2.60
Return
on shareholder's Equity% 10.59 16.21 29.88 23.22 18.01 3.67
Operating
Income
13.16 18.98 39.93 27.11 19.15 6.18
Net
Income before tax
25.83 34.70 75.40 67.99 56.13 14.61
Profit
margin% 15.06 19.66 29.81 24.45 20.95 19.63
Retroactive
1.78 2.99 6.54 5.98 5.40 1.29
Cash
flows ratio%
75.55 45.69 90.13 144.48 101.34 15.17
Cash
flows adequacy%
54.02 82.33 109.13 120.59 152.47 148.66
Cash
reinvestment ratio%
4.46 6.13 7.92 5.73 11.77 1.54
Degree
of operating leverage 5.79 4.88 3.32 1.64 6.69 5.39
Degree
of financial leverage
1.63 1.30 1.09 1.07 1.09 1.09
*Financial Summary (Currency:
================================
Year Sales Assets Net Income
1998 US$ 1,193,483,033.33 US$
3,373,727,633.33 US$ 204,803,100.00
1999 US$ 1,284,254,468.75 US$
4,422,347,937.50 US$ 247,962,125.00
2000 US$ 1,610,370,544.32 US$
4,998,541,555.21 US$ 401,163,483.67
2001 US$ 1,735,746,198.49 US$
4,777,865,728.38 US$ 194,599,477.66
2002 US$ 1,888,783,328.54 US$
4,951,908,335.73 US$ 284,520,638.11
2003 US$ 2,435,656,891.58 US$
5,294,111,995.39 US$ 478,839,359.86
2004 US$ 3,667,324,000.00 US$
6,519,324,300.75 US$ 1,093,219,879.70
2005 US$ 4,288,100,631.91 US$
7,353,733,965.24 US$ 1,048,546,571.88
2006 US$ 4,457,624,093.11 US$
8,610,305,169.29 US$ 933,776,178.96
*Int´l Trade Activity (Currency:
================================
Year Imports Exports Total
2001 US$ 272,512,805.80 US$ 698,781,195.59 US$ 971,294,001.39
2002 US$ 329,117,562.52 US$ 787,007,760.85 US$ 1,116,125,323.37
2003 US$ 437,716,262.98 US$ 1,147,635,524.80 US$ 1,585,351,787.78
2004 US$ 499,849,624.06 US$ 1,499,849,624.06 US$ 1,999,699,248.12
2005 US$ 657,503,949.45 US$ 2,030,647,709.32 US$ 2,688,151,658.77
2006 US$ 524,788,391.78 US$ 782,345,828.30 US$ 1,307,134,220.08
SC is well-known in its industry with strong financial conditions.
Credit dealings with SC in favorable terms can be considered.
Attached: trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 5162 Plastics
Mat'ls/Basic Forms
Importing 3494 Valves
and pipe fittings
Importing 3635 Vacuum
cleaners, household type, electric, and parts
Manufacturing 2273 Carpets
and rugs
Manufacturing 2281 Yarn,
spun, of cotton, man-made fibers, and silk
Manufacturing 2800 Chemicals
and Allied Products
Manufacturing 2812 Alkalies
and chlorine
Manufacturing 2821 Plastics
materials and resins
Manufacturing 2823 Manmade
fibers, cellulosic
Manufacturing 2841 Soap
and other detergents, except specialty cleaners
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2849 Carbides
Exporting 2916 Unsat
acyclic & cyclic monocarbox acid & anhyd etc
Exporting 3901 Polymers
of ethylene, in primary forms
Exporting 3903 Polymers
of styrene, in primary forms
Exporting 3904 Polymers
of vinyl chloride etc., in primary forms
Exporting 3923 Containers
(boxes, bags etc), closurers etc, plastics
Exporting 5501 Synthetic
filament tow
Exporting 5503 Synthetic
staple fibers, not carded, combed etc
Exporting 5506 Synthetic
staple fibers, carded, combed etc.
Importing 2501 Salt
incl table & dentrd, pure sodium chloride
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Importer Vacuum
pumps
Importer Acrylic
nitrile
Manufacturer Bags, polythene-
PVC- PE- PP
Manufacturer Calcium
carbide
Manufacturer HDPE resin
Manufacturer Solvents,
HCFC
Manufacturer Gypsum
Manufacturer 2-ethyl hexyl
acrylate
Manufacturer EDC
Manufacturer Carbon fiber,
reinforced
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to Asia
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to Europe
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to North America
Exporting to
Exporting to Oceania
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to UAE
Exporting to
Exporting to
Exporting to
Exporting to
Importing from Asia
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from Europe
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from North America
Importing from
Importing from Oceania
Importing from
Importing from
Importing from
Importing from
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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 |
|
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%)